The One Thing That Breaks You Into The Big Leagues…Especially In Your Online Business
It may seem obvious, but a lot of people don’t pay attention to the best way to break into the big leagues online.
What is it?
You have to have a big-ticket product.
The truth of the matter is that you’re not going to make big bucks online selling a $7 “tripwire” product.
For example, I have a $29 ebook that generated over a million dollars in sales of the ebook all by itself, but…It took nearly 20 years to do that!
If you want to make a million dollars in less than 20 years, you need a big-ticket item.
Now, “big ticket” can have several definitions, but — to me — it’s anything over $200.
It’s easier and simpler to find a hundred people to pay you $200 each than it is to find 2,000 people pay you $10. (You get paid $20,000 either way.)
The Big Idea
This lesson came home to me in 2003.
We had moved out of the trailer park and bought a little house.
18 months later I paid that house off with a single check.
How did I do it?
By launching a high ticket product that enabled me to pay off that house 28 and a half years EARLY!
That’s when the light bulb really went off, and I said, “Wow, maybe I should create stuff that has more value in it so that I can charge more?”
And everything got better since then.
Should I ONLY Sell High Ticket Products?
High ticket products are what you have in addition to what you’re already doing.
You need to have the “little,” less expensive stuff on the front end to get people into your world.
But if you want to join the big leagues, you’ve got to have something for the high reactors, the big fans, the people that love you and want more.
You’ve got to have a way for them to get more value from you… and pay you more!
In my experience, 10%–20% of the people who buy your lower ticket item are eager to spend more money with you at a higher level because they want more:
- Of what you offer;
- Of your personality;
- Of the value they see in what you do.
Frankly, they want more of you!
The way they get that is through what my buddy Russell calls your “Value Ladder.”
There are a lot of ways to structure your value ladder.
Usually, people start with something low-priced and then build up.
A possible value ladder might look like this:
- Free Report
- Low-cost ebook — $17
- Home study course — $297
- Group coaching — $497
- Live event — $997
- Mastermind — $2997 — $24,997
This is just an example, so please don’t consider this “the only way to build a value ladder.”
This weekend, get out a piece of paper and sit down to plan out your value ladder. (Some people call it a “backend.” What you call it doesn’t matter, but you do need to have this laid out.)
Think through each of these questions and write down as many ideas as you can about what you could offer at each step in your value ladder.
- What’s the low cost or free thing I could offer to get people into my world?
- What’s the next most valuable thing they could buy from me?
- What’s the next most valuable thing I could do for them?
- What would they want after that?
No matter what market you’re in, think this through.
If people are buying your front-end offer, a certain percentage will pay more money to get more value on the back end.
I guarantee it!
By the way, if you like this article and want to learn how you can get more leads, sales, subscribers, and fans…Click here to get a free copy of my book at CopywritingSecrets.com.