First of all, Nathan Barry is an excellent guy. Many people talk, he walks the walk...
Now back to the matter:
If you follow this strategy you must understand that this is not a method for long term ebook sales.
You'll get a quick burst of cash
and not much more after
This isn't a bad thing, this is how this method works. That's why he has 3 books out in such a short period of time....
If you want long term sales, there is another more profitable way to do it (too long for me to explain here).
Also, In some comments here, some people were complaining that the price was too high for a book. But he is not selling a BOOK; he's selling a proven system for making up to $100,000 with your own books. His mistake was framing "authority" as a book in his sales letter and that's why such problems arise.
I'll create the best book I possibly can and sell it for about 19.99. I still make a bit of money up front(less money than Nathan with this model... at the beginning) but a lot more sales because the book wont be perceived as "expensive" by any customer.
The goal here is NOT to make as much money as possible, BUT to make as many sales as possible.
Lets call my book The FRONT_END offer and the goal of the front end offer is just to get people into my marketing funnel.
Next...
I now have a massive list of customers and research shows that once people buy from you once, they are more likely to buy from you again...
It is to this customer list that I will sell the videos, interviews and in my case, I'll add bootcamps, one-on-one consulting sessions etc... I'll call these the BACKEND_SALES.
So, to summarise, you offer:
1. A low cost FRONT_END product to get people onto a customer list.
2. A long list of Higher ticket BACK_END products
You'll be reducing the barrier to entry into your marketing funnel, and you'll build a large customer list that you can sell to for years...
Over the course of the first year, you'll make significantly more this way(depending on your niche) than if you tried to make all that money up-front like this...
I'll do some case-studies and interviews pretty soon with people who I've marketed for/with who have used this system with great success..
And what prevents you from cutting the price of the book in half several months later? This way you still get a big chunk at the beginning, and later you can still market it to the more price cautious population. My bet is that even if people know that the price will go down in 6 months, most of the current buyers wouldn't want to wait, and bought it at the higher price anyway. And the 'this shit is too expensive' crowd can wait and get it at a discount.
What makes you think this method won't generate long-term sales? Unless I'm misunderstanding what you mean by that, your prediction runs counter to my experience and the experience of other information product vendors I've had discussions with.
(Although your suggested method definitely works too.)
The thing is I'm NOT saying he cant also back-end his current customers BUT......
That's not what he's optimising for.
My method below will spread that 100,000 over the year and add a nice chunk to it.
Its really all about what you optimise for... I'll release some case studies pretty soon with real numbers so you can properly wrap your head around the concepts, but I hope you understand so-far.
I think I may have been able to wrap my brain around the basics, yes. :)
My question, however, was not "does your method work?" but "can you show that Nathan's method has the results you claim it does?" - ie a quick burst of sales then severely limited back-end?
Comments
First of all, Nathan Barry is an excellent guy. Many people talk, he walks the walk...
Now back to the matter:
If you follow this strategy you must understand that this is not a method for long term ebook sales.
You'll get a quick burst of cash
and not much more after
This isn't a bad thing, this is how this method works. That's why he has 3 books out in such a short period of time....
If you want long term sales, there is another more profitable way to do it (too long for me to explain here).
Also, In some comments here, some people were complaining that the price was too high for a book. But he is not selling a BOOK; he's selling a proven system for making up to $100,000 with your own books. His mistake was framing "authority" as a book in his sales letter and that's why such problems arise.
Please summarize the better way for long term sales
It works like this:
I'll create the best book I possibly can and sell it for about 19.99. I still make a bit of money up front(less money than Nathan with this model... at the beginning) but a lot more sales because the book wont be perceived as "expensive" by any customer.
The goal here is NOT to make as much money as possible, BUT to make as many sales as possible.
Lets call my book The FRONT_END offer and the goal of the front end offer is just to get people into my marketing funnel.
Next...
I now have a massive list of customers and research shows that once people buy from you once, they are more likely to buy from you again...
It is to this customer list that I will sell the videos, interviews and in my case, I'll add bootcamps, one-on-one consulting sessions etc... I'll call these the BACKEND_SALES.
So, to summarise, you offer: 1. A low cost FRONT_END product to get people onto a customer list. 2. A long list of Higher ticket BACK_END products
You'll be reducing the barrier to entry into your marketing funnel, and you'll build a large customer list that you can sell to for years...
Over the course of the first year, you'll make significantly more this way(depending on your niche) than if you tried to make all that money up-front like this...
I'll do some case-studies and interviews pretty soon with people who I've marketed for/with who have used this system with great success..
And what prevents you from cutting the price of the book in half several months later? This way you still get a big chunk at the beginning, and later you can still market it to the more price cautious population. My bet is that even if people know that the price will go down in 6 months, most of the current buyers wouldn't want to wait, and bought it at the higher price anyway. And the 'this shit is too expensive' crowd can wait and get it at a discount.
What makes you think this method won't generate long-term sales? Unless I'm misunderstanding what you mean by that, your prediction runs counter to my experience and the experience of other information product vendors I've had discussions with.
(Although your suggested method definitely works too.)
The thing is I'm NOT saying he cant also back-end his current customers BUT......
That's not what he's optimising for.
My method below will spread that 100,000 over the year and add a nice chunk to it.
Its really all about what you optimise for... I'll release some case studies pretty soon with real numbers so you can properly wrap your head around the concepts, but I hope you understand so-far.
I think I may have been able to wrap my brain around the basics, yes. :)
My question, however, was not "does your method work?" but "can you show that Nathan's method has the results you claim it does?" - ie a quick burst of sales then severely limited back-end?