Ahhh.. information marketing.
Pure and simple, the best business in the world.
You can build a business around your passions, hobbies and expertise.
You can work from anywhere (I’m writing this post from Starbucks!).
You can live anywhere (my wife and family lived in Florida for 2 years for a change of scenery).
Oh yeah – the margins are insane.
I have re-created the information marketing funnel – and here’s the graphic (I originally posted this last month).
Today, I’d like to focus on “Big Ticket” products.
THE BIG TICKET PRODUCT MYTH
I LOVE creating (and, of course selling) big ticket products.
There is always a percentage of your customers who WANT the big full-blown training system. And they are willing to pay a premium for it.
It took me about 3 years until I fully understood this. And when I released a $200 training program over 10 years ago- I was shocked with a $20,000 payday.
But when some of my fellow “Internet marketers” talk about creating big ticket products, they usually say you can charge $2,000 (or more) without a problem in ANY niche.
And the moment someone says that, I know instantly they have ZERO CLUE what they are talking about. I’ve created a lot of products in the fitness niches – and it’s a big challenge to sell a $1k information product to consumers. And that’s the fitness/weight loss market!
I believe they are living in a fantasy world. They’re used to selling only “how to make money online” products – not softer topics. And by softer topics, I mean hobbies, personal development, etc.
A ceiling price “pure” information product (one that doesn’t include a live experience) varies wildly on the market.
Do you REALLY think you can sell a “how to knit better” DVD set for $2,000? I’m a pretty optimistic person – but even I know it would be almost impossible to pull that off.
The reality is many of the “hobby” markets will consider $200 a big ticket price. Very big.
But here’s the good news – you can still impact a lot of people AND bring in a very nice income with a $200 product as well.
Let’s look at the math.
You create a one-day workshop on a topic that resonates with your market in the gardening niche. ***That’s important – you must create something that people really, really want.***
Let’s call the workshop “How to Start Your Own Home Gardening Business”. You sell the recordings for $200.
You follow my traffic advice (and use this program).
You hustle and things start to happen.
Before you know it, you are selling ONE a day.
But, even at just selling ONE a day – you are bringing in $6,000 PER MONTH. That’s $72,000 PER YEAR. Most people would be happy with that income, and that’s just at one a day.
What if you average 2 sales a day? Or 3? Well, you can see the potential.
So whether it’s a $200 product or a $2,000 home-study course, you should start to generate ideas on how to create products for people who WANT premium.
If you want to build a true online empire, follow the chart above and create products in EACH category. And never forget BIG TICKET!
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P.S. For the first time, I am revealing EXACTLY how I have created Big, Fat Paydays on this free live webinar, Register here.