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.
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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.