Here is an article by David Risley I stumble upon yesterday – made a lot of sense I had to re-post it here..
Table of Contents
The Importance of Understanding Your Prospect Psychology
A successful marketer doesn’t just sell knowledge. They sell what is most valuable to the prospect. The knowledge is a means to an end, but you SELL the end.
Not only that, but you have to realize what they REALLY want. They don’t care about a massive brain dump. When you try to sell that ebook, they don’t care about how big the ebook is and how much is in it. Usually, newbie marketers who go down that road end up on a race to the bottom…. they’ll try to sell on the “get all this for a really low price” approach. Hmmm….
That approach can still work in some markets, but it is working less and less. I’ve used it (even recently) in the tech niche. But, it has limited workability.
So, while it might be a good idea to have some low-end offers out there which you can market in that way, the best way to make a LOT of money is to go for higher-end products with higher price tags. To do that, you need to think about what it is people are willing to pay the most for.
Here are 5 of them…
#1 – Speed + Convenience
People want an outcome of some kind. And they want it NOW. They don’t want to have to spin their wheels for too long. They want the runway to be shortened.
So, how can you provide them an outcome in a fast way and make it convenient? How can you prove that?
#2 – “Done For You”
Things need to get done. They know it. They don’t want to do it themselves.
So, how can you structure an offer with a “done for you” component?
I’ve seen blogger courses offered where part of the deal is they’ll set up the blog for you. That is a nice “done for you” offer, and it removes a common pain-point for bloggers (the technical stuff).
Unless you can automate this stuff with software, the “done for you” easily gets into offering services. Do you want to do that? Perhaps not and there’s nothing wrong with that. But, you can also explore more creative options. For example, in the above blog setup offer, you could hire somebody overseas to do the blog setups (it is pretty repetitive stuff anyway).
#3 – An AWESOME Experience + Status
Around the world, you have some pretty well-off businesspeople paying large sums of money to be added to a waiting list to be a space tourist. They want to be one of the first civilians to go into space once it has been commercialized. Why do they want to do that? Because they can, yes. But also…. because they want the experience and they also want the STATUS of having been a part of it.
People love to be able to participate in something that others cannot. How can you incorporate that into your offers?
It doesn’t even necessarily have to be just for paid things. In IM circles, you see this being done in product launches all the time among affiliates. Ever seen a “JV Leaderboard”? It is the ongoing “top 10″ affiliates for a launch. It is a matter of STATUS to be on that list. And sometimes, the seller will couple together an experience with being in the top 10. For example, as this post goes live, I am in Las Vegas with Ryan Lee because I was one of his top 10 affiliates for one of his recent launches.
#4 – Leading Edge, Trendsetter
To get out ahead of the pack, to get in on something before others are able to. People LOVE to feel as if they’re “on the inside” and getting in on something before it takes off into some huge thing.
People will pay for a competitive advantage.
#5 – Access
This is a biggie. In this world of information overwhelm, it is ironic that what people value most is good ol-fashioned human interaction. You can cut through the noise and get it from the horse’s mouth, so to speak.
Why can Obama or another political figure charge multi-thousands per plate for a fundraiser dinner? Because those people want access to the President.
Why do people pay extra for back-stage passes? So they can meet the artist.
You don’t have to be a celebrity to do this, either. How can you provide and offer access to you? Perhaps 1-on-1 phone consultation? Direct email access?
Brainstorm This Stuff
You should take whatever it is you are offering and see what you can do to make the offer much more valuable and charge a higher price for it.
If you’re just offering another ebook, you’re in the crowd with everybody else.
Find out what your target prospect REALLY wants, what their ideal outcome is, and then brainstorm these 5 points to come up with an AWESOME customer experience that will just WOW them. Then, you’ve got a customer for life.
You can keep up with the author here Blog Marketing Academy