What if I told you that changing ONE WORD in your marketing could literally 10x your income?
Sounds crazy, right? Let me break it down for you.
Picture yourself walking into Walmart to pick out some shampoo.
One bottle might have really clean marketing; it’s easy to look at and maybe makes you feel more of the version of yourself that you want to be. Especially compared with another bottle that might have awkward branding or coloring.
What I’m saying is that packaging matters.
Maybe one bottle really is better shampoo than the other, but hypothetically it could be the same product in both bottles -- and you still may be willing to pay double or quadruple for the bottle that makes you feel better about the product you’re purchasing.
This principle applies across the board, regardless of what you might be selling.
A lot of the people I work with are what you might call “infopreneurs.” Infopreneurs sell information -- and the ones I work with do it digitally, primarily via online courses.
However, any information can be packaged in many different ways. One piece of education can be packaged as an ebook, printed book, coaching program, or course, among many other forms.
But, here’s the thing -- the market value of an ebook is typically much lower than the standard market value of an online course. A typical ebook might sell for around $15. A really well-marketed ebook that’s at the top of the market might sell for as much as $50…maybe.
However, something like an online course could sell for a minimum of $50 with minimal marketing. And with some good marketing, online courses often go for several hundred dollars.
And turning an online course into a coaching program instead can quickly grow it’s value to thousands of dollars.
Important point! I am NOT saying that every product should be packaged as a coaching program and sold for thousands of dollars.
This would inundate the market with coaching programs, and they would overall lose value. Also, people don’t need coaching programs for a lot of things they want to learn. There are many topics I might be interested enough to learn that I’d be happy to spend $20 on for an ebook, that would not be worth the emotional and time investment of a thousand-dollar coaching program.
This is great news, because it means that there is plenty of room on the market for many different kinds of educational packaging; the key is to match your customer's desired result with the format you are putting your product into.
For example, if your product is designed to change someone’s life radically, an ebook may not give your customer their desired results as well as a coaching program could. In this case, your customer needs your product in a container that will set them up best for success.
Think about it like this: would you rather an ebook teach you how to design a website, or would you rather have a step-by-step YouTube video or online course that would visually and adaptively teach you?
How do I put this principle into action in my own business?
So, are you ready to change the perceived value of your product in the right way?
Start by thinking about these two things:
The result your product gets for customers.
How much that result is worth to them.
From here, make sure that you are putting the information that you are teaching into the correct format or container that you can sell for the appropriate price for the result that you’re providing your customer.
If you are providing a result that might be smaller, package it up as an ebook or even a free YouTube video. On the other hand, if you're providing a result that is life-changing or might leave your customer in a much more lucrative place, make that an online course or figure out how to turn it into a coaching experience that you can sell for a whole lot more.
So, what’s the “magic word” that can dramatically increase my income?
Don’t worry, I didn’t forget about the magic word. So far, we’ve talked about how to change the format of your product, which is still incredibly important.
I see this often in online courses. Infopreneurs will offer an online course along with thorough follow-up for their customers. Whether it be answering every question your customers email you aboutl, group coaching, or maybe community forums. A couple of hundred-dollar online course can quickly turn into what is more often sold as a thousands-of-dollars coaching program.
Here is your needed change:
The right customers will be excited to pay $3,000 for a coaching program that offers them the results that you are able to provide them versus paying $300 for the level of support that you are already offering.
So, transform your business today by utilizing this powerful insight! Multiply your sales revenue with this single-word change, and be properly compensated for your efforts and product!
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MY $10K/MONTH FUNNEL breakdown
In this free 4-video training, I'll teach you how to easily scale your course to $100,000+/year with one simple funnel.
I'll take you through my entire funnel so you can see how it automatically turns a lead into a paying customer, break down the Win/Win webinar strategy, walk through our evergreen sales emails, and explain the big-picture strategy and how you can implement this whole system into your business.
