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‘We were testing 200% commissions on a
JVZoo product.’ So, he has affiliates (agents) selling
his $10 book and he pays them $20 for selling it. So where is the pay-off?
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. So, what are the rules for success for
100/200% commmissions ? 1. You must have a high-ticket product
in your funnel, 2. You must use an ‘evergreen’ lead
product that has a good record of conversion through to your
high-ticket product. Using a new lead product increases
risk, as you do not yet have conversion figures. 3. The high-ticket product has either a
normal commission, or none at all, if you mail the affiliates’ buyers directly. This is your only income from affiliate
sales in this model. Above all, you must know your sales and
conversion rates. 100% commission means no income from
the products sold. 200% commission means a loss on every
item sold. In either case, you need to be sure
that you will have sufficient income from the high-ticket product,
generated by the affiliate sales. 200% is still being tested, but 100% is
being used increasingly by the IM top players. Can we expect more than 200%?
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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