More PROOF That the Information Marketing Funnel Works
Everyone who does information marketing needs to understand a basic model for success. It revolves around getting people to buy something from you at any price. Usually a low one. Once they buy that first product, you have to blow them away with the quality of your content.
When you do that, the chances of someone buying additional products from you goes way up. And, many times, they will be willing to spend more money with you.
There are a lot of different “front end” products you can create. Those are the ones that you sell FIRST. Again, usually the “less expensive” ones. That term is relative.
For the past 4 years or so I’ve been offering people who want a brief consultation for a reduced fee. I’ve been using ConsultWithFred.com to promote this service. When I first introduced the service, I offered people 90 minutes of my time for $500.
As the economy tanked, I changed my pricing. I now offer people 20 minutes of time for $100. This is an hourly rate of $300 per hour. The previous option came out to around $333 per hour.
There are also two additional provisions to this system. First, people can only use this option ONCE. Second, they can deduct $100 off the price of any product or service priced at $200 or more after they buy this option.
Another option I’ve been offering is a $500 monthly one on one coaching program. I give people 2 calls a month for an hour each.
My “endgame” for my business is to find and attract 100 subject matter experts who want to turn their knowledge into a business. I already have a decent number of high quality partners.
In order for them to become a JV Partner, they must pay for and attend a FredInfoBootcamp. The bootcamps are currently priced at $3,000.
Some of the folks who attend the bootcamp become JV Partners.
All of this is fine for me, but how does this help you?
The system works. You need to create some great lower priced products and services using a variety of modalities. Some written, some audio, some video, some personal consulting, and some text (ebooks, etc.).
Make sure that any of the products or services you offer completely blow people away in terms of terms of content and quality. Then have a very specific game plan to trade people up to your other more expensive products and services.
The vast majority of the folks who attend my bootcamps START by buying one of my front-end products. In the past couple of weeks, here is a textbook example.
Someone signed up to get my 20 minute, $100 personal consultation. He then traded up to a $500 monthly coaching program. In less than a month, he made a decision to attend a bootcamp for $3,000.
This is NOT an isolated example. In fact, close to 50% of the bootcamp attendees go this route.
YOU need to set up a similar FUNNEL for yourself. Feel free to basically copy my model. Why reinvent the wheel? The system works. It’s been proven.
Here are the sites for you to look at if you want to “borrow” from my system.
ConsultWithFred.com – My $100, 20 minute option
BootcampByPhone.com – One of my group coaching programs
JVwithFred.com – For people who want to become partners with me
FredInfoBootcamp.com – This is my 1 week event held at my house in Vegas
There you have it. Now go out and do it yourself. Please come back here and report your results! I look forward to your comments and questions.