Pricing OTO at $1. Good Idea?

I would say so yes...

still with $1 Products although people with be buyers, some will be doing it for a "Punt". $1 is not much at all and people tend to throw dollars here and there.

$7 on the other hand will filter the money chuckers to the people who have actually thought about this.

entierly up to you and how and what you plan to market to the list you are building...

I don't know what WSO you are talking about. But I understand the concept...

The concept is that you are building a "buyers list"> Even though the purchase was only $1, these are people who are willing to spend money on products that you sell. And it has been proven time and time again that it is much easier to sell to someone who has bought from you before than it is to convince a non-customer to buy. You are building a list of people who have taken the big step to actually give you money, even though it is a nominal amount.

To make this even more successful, sell a product that is worth $97 for $1. Now, not only do you sell quality products, but you also give immense value for the price. You "build trust" as they say.

That, I believe, is the theory behind what you were taught. As to the effectiveness, that is something only you can determine through testing.

These potential buyers will already be on your prospect list (since they'll only see the OTO after opting in.)

You can still send them the same promo's later on, whether they buy or not.

Being on a "buyer's list" doesn't automatically mean that a particular individual will be more likely to purchase from you than if that some person were only on your "prospect list."

So the question is whether, in your case, a person who has bought a $1 product is more likely to buy from you again than is someone who just got your freebie.

My guess is that they probably are, but not by a huge margin. A lot of it is going to depend on the nature of the products.

So then you have to look at the difference in immediate revenue it will make. You definitely will make FAR more sales on a $1 product than a $7 product. Will it be 7 times as many sales? Hard to say. Maybe.

The only way to know for sure with any of this stuff is to split test it.

Short of that, you just gotta go with your gut.

However, keep in mind that if someone's first interaction with you is getting something for free, then something for $1, that may actually make it more difficult to sell higher priced items later. Some may expect you to continue to deliver for nothing or next to nothing.

Jeff

I agree that a $1 OTO does provide a quality list instead of a quantity list. Which obviously a quality list is key to a successful IM career.
Good luck warrior!

i know of at least 2 very professional warriors who tell to do just what you are suggesting and they sell well big time. So yeah its a good idea. You are bringing buyers in.