Selling Information Products: A Splinter Might Save Your Business
How can we sell a product that prospects can’t see?
In other words, a MYSTERY PACKAGE.
If your business sells books, training courses, guides, events, memberships, or any other form of information-based product, stick around, this blog is for you.
In a world plighted by rip-off merchants, internet conmen and phoney digital experts, how is it fair that your valuable information (built from experience and hard-work) has to compete?
The truth is, it isn’t…
…but that’s why Einstein’s writing this blog.
We want to give you the advantage back.
Stick around, soak it up and apply these KILLER strategies to your marketing campaigns.
The Big Problem
Einstein’s sure you know how valuable your product is.
You’ve probably spent weeks, months or years perfecting the information and even longer amassing the knowledge and experience.
The problem is, customers have heard it all before…
…and they couldn’t give a damn.
Their BIG PROBLEM is RISK.
People don’t want to spend their hard-earned money on something they can’t see, feel or hear.
Information does none of those things. It’s a MYSTERY PACKAGE.
Sure, it’s got masses of VALUE and can transform lives, but people won’t buy it because RISK is attached.
That’s where Einstein comes in with a CLUSTER-BOMB of selling STRATEGIES.
The Splinter
We love this one, and not just for its cool name.
The Splinter works in a ton of different ways, all because it greatly REDUCES RISK.
It works by pulling a SPLINTER out of your information product and making it a product in itself.
If that doesn’t make things any clearer, try this as an example:
Einstein works with a business who sells e-courses. A full course costs £499-.
That’s a tough sale, especially to COLD TRAFFIC (first time viewers).
So, we splintered off one module from each e-course and sold it for £19-.
Buying a MYSTERY PACKAGE at £19-, is a much smaller risk than £499-.
And once the lead buys the SPLINTER product, and they find huge value in it, RISK DISAPPEARS, and guess what? They buy the full e-course at £499-
But…
…that’s just the tip of the iceberg.
If you truly want to harness the power of the SPLINTER, use it as a LEAD MAGNET or TRIPWIRE OFFER.
Don’t know what either of them are?
A LEAD MAGNET is given away for free in exchange for contact information, and the TRIPWIRE is a low value offer (usually under £10) that brings new customers into the buying process (we get them to buy the BIG-TICKET product later).
Learn more about LEAD MAGNETS and TRIPWIRE OFFERS.
If a customer receives real VALUE from a free or low value purchase, their mentality instantly shifts from, ‘what’s the harm in getting something for free, or under £10?’
…to…
‘woooahhhh, if that was what I get for FREE (or under £10) the full package for £299- might change my life! This company really knows their stuff! I gotta have it!’
That’s the power of a SPLINTER.
Einstein uses them as LEAD MAGNETS and TRIPWIRES all the time…
…they work!
You’ll convert at an infinitely better rate and get a whole heap more back-end custom with one.
Risk Reducing Offers
If the splinter didn’t tickle your fancy either you’re clinically insane, you’ve already got one in place, or you’re thicker than a box of rocks.
Whatever the reason, don’t go anywhere, we’re going to show you how to supercharge your INFORMATION PRODUCT OFFER.
Payment Terms
An offer type that every HIGH-TICKET information product should offer.
People are much more likely to buy when they see smaller numbers, but how do we do that without reducing the price?
We break it into parts.
Offer your customer the chance to pay in instalments- monthly, quarterly, or every 6 months.
The Bundle
How many MYSTERY PACKAGES do you sell?
If it’s more than one, create a BUNDLE.
Add up the prices and reduce it (because they’re buying in bulk), tie this in with a KILLER splinter, and an awesome DECOY OFFER (find out more about pricing strategies), and you’re onto a winner.
The Premium Offer
We’ve got a whole blog coming soon about the power of PREMIUMS, but for now, we’ll give you a quick taster…
…if you’re selling a SERVICE or INFORMATION PRODUCT that isn’t physical, create a physical product to go alongside it.
It adds excitement, and anticipation (like when you buy something online and you’re waiting for delivery).
Watch this space for more information. You want to know more about PREMIUMS, trust us.
Flash Sale
Everybody knows what a flash sale is, right?
It’s a reduction in price for your product/service that happens for a limited time.
You should be using FLASH SALES every 6–12 weeks.
There’s a bunch of different ways to optimise FLASH SALES, we’ve recently posted a blog about optimising them, so we won’t go into all the details now.
But you can check out some conversion increasing tactics about SCARCITY and URGENCY on our Northern Lights post.
Killer Copy
Once you’ve got the SPLINTER in place and reduced risk with the correct OFFER, you’ve still got to persuade the prospect to BUY.
Awesome copy is absolutely PRICELESS in the information product world.
Here’s 3 tips that you’ll need to adopt:
- Transformation
What’s the difference between somebody who has absorbed your information and somebody who hasn’t?
BEFORE and AFTER. Your copy must articulate the divide.
Show a potential customer what they will achieve and have in the AFTER state.
Draw on the strengths of your MYSTERY PACKAGE and target it at the BEFORE state of your audience.
2. Authority
If you’ve got experience or success in your industry, you MUST prove it as EARLY as possible.
Use real life examples to grab the attention, reduce the risk and build trust with your target market.
And make sure you RELATE!
If you’ve been where your audience is NOW, tell them the story of you moving from BEFORE to AFTER. (We’ve got an amazing Storytelling Blog series if you’re a creative dunce!)
3. Proof
How many success stories has your product created? What percentage of customers would recommend your product? How has it changed buyers lives?
Prove the quality of your product with stats and real-world evidence, but DO NOT LIE!
If you’ve got testimonials or customer stories, use them (if they’ve given consent).
Reviews work a treat too.
Pouring PROOF into your copy, will instantly dispel thoughts of DISTRUST and REDUCE RISK.
Information Product Selling: Be the Real Deal
The quality of your product is crucial. If it sucks, we could reel off proven strategy after proven strategy, and it still wouldn’t sell.
BE THE REAL DEAL!
Create a product that has tons of actionable value and makes a difference to your customers lives, use our INFORMATION PRODUCT selling strategies, revel in the successes of your customers, and watch your business grow.
These things tend to work like vicious circles, only a whole lot nicer.
Let’s call them delicious circles for now.
Einstein has the recipe. You just need to bring the ingredients.
Could your product be the next big thing? Leave a comment or send us a message and we’ll reply as soon as our social media manager has stopped knocking drinks off my table.
Originally published at www.einsteinmarketer.com on March 15, 2018.
