Selling Products at Events
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I recently made a significant change to the ‘pitch’ that I give when I speak at events.
Over the past many years I have been offering people three options. First, I offer people a DIY (do it yourself) option. With this option I give people a package that includes JUST products. No additional services.
The second option has always been a combination of products and some group coaching. This option has also included the right for people to attend my events for a full year.
The third option is my lifetime coaching package as described in www.TheProductGuru.com. Of late, I have even had people showing interest in this one by finding my site(s) online and then contacting me. More on this later.
Here’s the change I just made starting with my last ‘gig’ in New York City at the Learning Annex.
I changed my first option to include a slightly higher priced option 1B. In the new offering you can either get a package of products only OR a package that also includes a license to one of my more popular products.
I have priced the 1B option at just $100 higher than option 1A.
It encourages people to add $100 and get a product that they can start making money with immediately. I remind people that if they sell just 5 units of this licensed product that they can recoup their entire investment. A great deal.
The product that I make available for license is a great product that ALSO promotes a number of my other products and services. Great deal for both them and me. The buyer can make their money back almost immediately. I, on the other hand get a large number of people who are spreading the word about my OTHER products and services.
Here’s how I have changed my second option. I now offer a deal that includes an ALL EXPENSE PAID trip to Las Vegas. The buyer of this second option are given a full day of my time to help them create both an audio and video program.
For a set fee I will fly someone into Las Vegas, help them create an audio of around 3 hours and a video of around an hour. They spend the entire day with me and get my full attention.
I made this change after seeing some speakers make presentations at my own and other peoples’ events. It becoming increasingly clear to me that people are willing to pay fairly big money to have me (or some other guru) to help them one on one to do whatever it is they are claiming they can help with.
If you sell products, take note. Here is what I recommend that you do. Find a way to give people an option where you DO IT FOR THEM. in this no- work society that we live in people are not willing to do hardly any work and want to get the rewards.
Don’t fight the trends. Join them.
If you sell products, make sure and include an option that allows people to take advantage of your ‘we do it almost all for you’ option.
You will be amazed at what people will pay for this option. I’m setting my price for this middle option (where they come in for a day) at just under $5,000.
I expect NO price resistance. People who often won’t spend a couple of hundred bucks to buy some products will FREQUENTLY fork over thousands of dollars for this kind of a deal.
What price should you set? Here is how I made my computations for that.
I asked myself if this is all the work that I did every day of the year, how much could I make?
If I got $5,000 and did it 200 days a year that’s $1,000,000 gross. Do I EXPECT to be doing this 200 days of the year. Not only don’t I think so, I won’t allow it to happen.
It was helpful in setting my prices. Ask yourself how much you could make if you did something full time and then go backwards from there.
In conclusion, when I offer people products I now offer them the YOU DO IT option. The I HELP YOU DO IT option as well as the lifetime coaching option.
I suggest you use this as a way to come up with your set of options.
Remember, keep it three or less. If not, it will confuse people. Additionally, people tend to go for the middle option when you make an offer, all other things being equal.
Let me know your thoughts and your progress.
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See you next time!