Happy holidays! I hope you are enjoying the season with family and friends this year. I’m not taking time off to celebrate until this evening so I want to share an interesting story with you.
I was talking with one of the speakers at the GKIC Info-Summit before his big presentation. It was the first time he’d had an opportunity to speak on a stage, teach his materials and offer a product to an audience.
He told me, “Robert, the product I’m offering here is the product I created from the teleseminar series I learned how to do from your Official Get Rich Guide to Information Marketing book. I sold the original series for $99.00 to generate some sales and get feedback while I created the product. Now I’m on stage and have the opportunity to offer it for $997.00.” And you know what? I followed up after his presentation, and he already had 56 sales of his product. (If you aren’t familiar, check out Section II, starting on page 99 of The Official Get Rich Guide to Information Marketing, Second Edition.)
There are two lessons from this story.
First, just because you price something at $99.00 when you are unknown and trying to get something started doesn’t mean you can’t offer the same product for a much higher price later on. No one in that room knew he had offered the same product at 10 percent of the cost just nine months earlier. And even if there had been a previous buyer in the room, it would have made that buyer happy to know that he or she had gotten such a great deal. And what’s more, the customers who paid $997.00 received a tremendous value. The price is determined as much by the environment of the sale, the notoriety of the presenter and the delivery mechanism of the product as it is by the actual content of the product. An important lesson to learn.
The second lesson is that you must mix and match different launch models. This info-marketer started with the teleseminar series and generated his next batch of customers using the joint venture model by speaking on someone else’s stage. Too many info-marketers experience success with one launch model, say, teleseminars, and then they are tempted to go right back and offer another teleseminar series. Then another. There’s nothing wrong with that, but it’s nowhere near as powerful or as fast as switching them up.
My coaching clients who are beginning info-marketers fall into three distinct groups. The clients in the first group try everything. During every coaching call they tell me about some product they have purchased or advice they have heard that they are now pursuing within their businesses. These folks stagnate because they never finish anything. They get 1,000 projects 90 percent complete, generate a handful of clients and then move on to the next marketing strategy, idea or product offering.
Clients in the next group learn to finish a particular launch model and are successful. And then they are extremely reluctant to venture outside of it. If they have a successful teleseminar launch, then they want to do a lot more teleseminars. If they use direct mail, then that’s their marketing method. These clients’ businesses stagnate because they aren’t leveraging the products and programs they create from their efforts.
And finally, there are those who methodically finish one launch model, then move on to the next. They are diversified, profitable and grow much more quickly than other information marketers.
If you are using a particular marketing system because that’s what you learned, then you should continue using it, and simultaneously add an additional marketing method to supplement, diversify and leverage your efforts.
What do you think? Have you tried using more than one launch model? Have you found this to be as successful as I and many other info-marketers have? Do you disagree and have a better way? Visit the page A 10 Times Price Jump! and scroll down to the bottom of the page to leave me a comment. I read every comment and reply when appropriate.