Information Product Creation and Sales, Continuing Education and New Vendor Recommendations
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New Vendor Recommendations
Information Product Creation
I’m writing this newsletter as I sit in my office surrounded by more and more equipment. To give you an idea, I have a Mac G5 (dual processor I might add) in front of me. To the side, my Mac Mini. On the side of the mac is my Tascam CC-222.
The Tascam is a machine that has both a CD and a cassette player and recorder. This allows me to dub from one to the other and also to use it strictly as a playback device to import many of my “old” programs into the computer to put into CD and mp3 format.
I’ve got someone working with me almost full time to take all of my content and put it in that form. I’ve got well over 100 separate programs some of which have references to Ronald Reagan to let you know how old some of them are.
I can’t tell you how important it is to keep cranking out good content. It will only give you a “library” of things to sell and put on your membership sites.
I’m creating membership sites for each of my 9 or so niche markets.
I also have a Go Video Machine that is taking all of my old VHS tapes and putting them into DVD form. The quality is surprisingly good and if you can, by the machine at my favorite store Costco. If you or anyone you know works for them, make sure you forward them this email.
The specific machine is model #VR3840. I am taking all of my old videos and putting them into DVD form.
I’ll sell them on the membership site and on Amazon. Remember, Amazon doesn’t just sell books. Videos are fine as long as you slap an ISBN sticker on them.
If you don’t know about this, you’ll need to have an ISBN number for everything you sell. It’s like a social security number for your products. Not having one makes your product an illegal alien.
Get them at www.Bowker.com
I’ve also got a DVD/CD duplicator that can do as many as 8 at a time. This one happens to be a Pioneer unit. I just went online and found the place with the best price and the best service policy that was within 250 miles from me.
I won’t give you a name because I don’t have any experience with them so I don’t want to recommend them yet.
Information Product Sales
I did a seminar last weekend in Los Angeles and learned some things worth sharing.
When I do a 1 day event I always do my product pitch just before lunch. This allows people time to look over the order form while they are eating.
It gives them time to think about which package to get.
I normally make a 3 tiered offer. I offer people a package that consists entirely of products, a slightly higher offer that consists of products and group coaching and finally my lifetime coaching offer.
I don’t even really think it’s worth calling the 3rd option on offer, it’s more of an explanation and I’ll explain why in a bit.
I how people that the retail value of all three items is over $2100. If you add up $997 + $997 + 197 that’s what you come up with.
I explain to people first that all of my products have a lifetime guarantee. I always make it a bit funny by mentioning that I’m referring to MY lifetime. That usually gets a laugh.
I also explain that people usually fall into one of three categories. Those who like to “do it themselves”, those who like to do things with a little help and those who want me to work with them every step of the way. Thus the need for a three tiered offer.
After explaining the first offer for products only and showing people that the retail price totals about $2100, I ask the audience what they think would be a “fair” price given that I’ve got them sitting in front of me and I don’t want anyone to walk away empty handed.
In LA, I got a rather typical shout from the audience. The amount they shouted out was $1500.
My response: Yes, that would be a very fair price for these materials however, I don’t think that would be good enough for this group. I then tell them that the price of those three items is just “X”. This X will vary based on the group and what I think they would be willing and able to spend.
Yes, I change it. But, I do have a minimum price I never go below.
Since this number is much less than what someone said was fair, most people are pretty comfortable with the pricepoint I give out.
What would happen if someone said a number that was much lower than what I intended to sell it for? I would chuckle and then repeat the question emphasizing the word fair. I will always get an answer that is higher than what I will sell the items for.
When I go to the second offer, I don’t do the same thing again because it would look hokey. The second offer is a product plus group coaching offer.
My last offer is an explanation of my lifetime coaching deal. This never gets discounted. Not now, not ever.
I suggest you consider testing what I described above.
Here is what happened at that event that was so illuminating to me and worth sharing with you.
At the last break of the day I only had about 10% of the people buying anything. This is not my usual percentage.
I then reminded myself that this was a Learning Annex event where most people had paid less than $50 to attend.
I strongly believe that it is tough to price your lowest priced package at an event for anything more than twice what the cost of admission was to the event itself.
That means that I hadn’t really given people an offer that would be in that price range. The first package with three great products sells for way more than $100.
So I asked everyone in the group. I said: “I see that only a few of you have ordered anything, can I ask you what the problem is?” One brave soul told me that the prices were a bit steep for them.
I responded by saying that I understood. I then asked how many of you would buy something from me if I could find a way to give you something, anything, that would sell for around $100. I asked them to raise their hands.
They were making a committment, but I wanted them to keep it so I said, OK, pull out your credit cards all of you who raised your hands. I proceeded to unbundle the items and found a way to get people a product that went for around $100.
Net result? Over 50% of the audience bought from me
last weekend. My total product sales dollars went up about 300%.
Then someone in the audience asks me if I had planned what I just did. I wish I could have said yes, but I had not.
I think I’ll keep doing what I just described above.
The people who are willing to spend some good money will keep their orders at the higher price point and generally (in my humble opinion) won’t rescind them after you do this. They were already committed to getting some additional products and services.
So from now on, I’m going to ask people, right after the last break of a one day event, how many people would have bought . . . like I said above.
I’m curious to see how it goes. I’ll keep you posted. I have another event in San Francisco this weekend again at the Learning Annex there. If you’re in the bay area, try and make it. Sign up through them.
Some people think it is beneath them to speak at a place like the Learning Annex. Not me. I will speak anywhere that someone can get me a good number of people together in a room who have the possibility of buying my product.
I like speaking at continuing ed places for 3 reasons:
1. It gives me a chance to practice things like I described above.
2. It allows me to record sessions. I usually bring a recording device with me.
3. It gives me some extra cash without having to travel long distances.
I know that the average value of one of my customers is $445. This means that if there are only 40 people in a room that I will eventually get them to give me well over $16k. Not immediately in most cases, but eventually.
I would suggest you do the same. Try and get yourself booked at some continuing ed centers. No matter how successful you are. Use it as I described above.
There are still some spaces left for the Info Products
Bootcamp. Like I’ve been telling you, if you have any interest at all in doing your own products, this is my absolute specialty.
I’ll be showing you exactly how I create my own products that you’ll want to take home and copy for yourself.
Please try and make it.
If you like the idea of doing your own seminars and events, then you’ve also got to make it to the event in May: http:www.SeminarOnSeminars.com
This is one of my most popular events. If you have any interest in doing your own seminars this is an event you cannot miss. It’s also a lot of fun.
New Vendor Recommendations
If you want someone to fulfill individual book orders for you, I’ve got the guy. His prices are extremely reasonable and he’s 100% reliable.
His name is Bret Ridgeway. Take a look at: http://www.ShipMyBooks.com.
You are the very first people to hear about this site and this service. Jump on it while he still has room to fit you in.
I’m going to be having these folks take over all of my amazon book orders so I can concentrate on what I do best, making products and marketing.
I also just got off the phone with a product developer named Randon from Sorenson. They are the folks that put out this product called Squeeze. Don’t worry, nothing immoral or illegal.
It’s a product that will help you compress video into a useable form both on and offline. I highly recommend that you take a look at:
Good products and good people. Download the trial version. That’s how I started. Just like with WebMarketingMagic they are using my system of “crack dealer” marketing to get you hooked on their product so you have to have more.
Philosophy Items (aka my “rants”)
Here’s one for you. I’ve been recommending a person’s services for a while with no demands for compensation. I don’t remember getting a thank you recently. Not good form.
Also, I’ve got a number of events coming up, do you think this person will send people my way? I’m not sure, but I am asking the question.
When you’ve got people who work for or with you, take care of them.
I recently sent a vendor a dozen brownies from www.Brownies.com.
They do a great job, but more importantly, the people who got them were impressed. If you want great service, make your vendors think of you first by taking care of them.
Can you make more money by playing fast and loose with the facts, but is it worth it?
I don’t think so.
Last email I talked about Million Dollar Baby. Hate to tell you, but I was right. I got 4 out of 5 of the main categories. I missed Cate Blanchett for the Aviator. I thought Virginia Madsen should have won for Sideways, another great film.
I’ll try and get my film sites launched very shortly. Lots of other stuff to do.
Speaking of film, I’m off this summer to take some classes up in Maine at:
Anyone interested in coming with me?
If you’re curious, get a hold of their current calendar. I’m looking at a few classes. Contact me if you might want to go.
I’d like your help. If you find my information useful, please send people to the following link: www.FredGleeck.com/ebooks.
This will give your friends a copy of some of my books. Gratis, as my gift for having them sign up for this ezine.
If you think it’s worth it, pass along this link.