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‘We were testing 200% commissions on a
JVZoo product.’ Yesterday, I received this note from a US friend. So, he has affiliates (agents) selling
his $10 book and he pays them $20 for selling it. Either 100% or 200% commissions are
risky and expensive, so where is the pay-off? The IM business model says that selling
$10 books alone will not give you a gold-plated retirement. It is merely
a hobby. The business needs to sell more
expensive products to its buyers to make serious money. These are ‘upsells’ or OTO’s
(one-time-offers) and ‘downsells’ (an alternative offer to those who refuse an upsell). So, we set up a ‘sales funnel’ starting
with a $10 product and moving up to a ‘high-ticket’ product of $100 plus. It is a funnel, as less people buy at
each level to which the price rises. Let us say that your high-ticket
product sells for $3,000 (training, affiliate access to a profitable sales funnel). If your high-ticket product is
well-established and converts well (many buyers of your cheaper products buy it), you may decide that you can live with the profits of the high-ticket product and make no money on the cheaper products sold by affiliates. If you offer 100% commission on your
cheaper products, this will probably attract more affiliates to promote your products. This will result in more
high-ticket sales, based on your experience. When YOU make any sales of cheaper
products, without the affiliates, you keep all the money. To be continued
Time to watch a great webinar!
I have a request :
Please make time to view this
free webinar from my mentor,
John Thornhill:
Product Creation Workshop https://jvz7.com/c/593801/305413 Please make time to watch this! We have been recently reviewing the Easiest System Ever and its demo: This is a done-for-you system to save
you time in setting up your business.
In contrast,
Product Creation Workshop is a more hands-on system, helping you
build your business with your own products.
You will see that you need to do this to
have a more competitive IM business.
This webinar provides a comprehensive
view of the IM business from a master
practitioner.
This is the path I am taking
to build my IM business. I want you to
see it, even if you prefer the
done-for-you approach.
I have invested in both.
Which is your best path to IM success?
Product Creation Workshop Please make time to watch this! (More of Mark!) Better pricing = higher profits
If you have a service business, you can
earn much more from this series. Also, Mark runs a programme called
Price Consulting, and he teaches
accountants/bookkeepers how to help their customers with their pricing. Thank you for the positive response to
posts on this topic and the action taken. Please tell your friends!
Those links again:
The Value Pricing System
Effective Pricing for Accountants (book)
The Power of Price Psychology
Monthly Mentoring
The complete guide to menu pricing – NEW!
(video training programme) How to build a successful bookkeeping
business (book) How to build a successful bookkeeping
business (video training programme) Grab them NOW and claim the true income
that you earn!
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