Before I begin, I know my posts have been a little late lately. My sleeping pattern have been off the charts as I stay up day and night working on some projects that I like to get out of the way. So forgive me for that.
Alright; I am going to give you some golden nuggets in this post on how to price your offers and products for maximum profits. Let’s assume that you have a product for sale and that it is in somehwat of a demand.
So now you have this product with a salespage ready to be sold on the market. First thing you need to understand is that:
NOT ALL TRAFFIC IS CREATED EQUAL !!!
People have a hard time understanding this which is why I laugh at the gurus when they tell you to just drive traffic from all those different sources and you will just make money. I guarantee you that no GURU is getting more than few thousands visitors to their website from direct traffic per day. Please do not misuse my words, I am saying from direct traffic. Let me explain why.
Only a few marketers like myself spend years to understand the effectiveness of each method of traffic. Let me put it to you this way:
- The traffic you get from Google is Different from that you get from BING
- The traffic you get From Google search and Adwords serves a totally different audience.
- Traffic you get from Facbeook serves a different purpose and different audience.
You really must understand the traffic that is coming to your website to be able to deliver your product effectively to that traffic. Now before I go further, I wrote a post a while back about pricing your product as well. Following that previous post and this one here will help ensure you determine which traffic methods are even profitable for you.
The question begs, “How will I know the quality of each traffic and if it is profitable for me?”
Answer: There is no easier way to put this but you really have to:
- spend money
- test your offer with each traffic method from many different angles WITHOUT watering down (losing quality) of your offer.
This is the only way you will discover if each traffic method is even worth it for you. I can give you some pointers but do not take them as a holy grail, take them as a starting point to go by:
- If you want to sell a product directly at a higher price point or monthly subscription, I have my best results with PPC. Anything I sell that is $97 and up, I do PPC, surprisingly, for my offers personally, Warrior Forum works for me even on expensive products I sell.
- If I want to build a list or sell low end offers, I use CPM mail drops and other cheap traffic methods. Because a free offer is free offer, you just have to drive targeted traffic to that offer.
Now here is a trick that will help you make way more money if you follow it. What I am about to tell you, I myself was a victim of it for the longest time. Most peopel who create products including me, we hold our product and the price point of the product dear to us. We only want to bring the price up and never bring it down.
This is because:
- We spend weeks and months, even years building that product
- We put sweat and tears into the product
- We know our product’s worth but we have a hard time portraying it in a way that gets us top dollar.
I was a victim of all this for the longest time and till this day, I think it left some residue that I have yet to get rid of 😉
Bottom line is this; do not get too attached to your product and how much you’re selling it for. Money is money, whether you get lots of it or less of it, bottom line is that you want to get some and you should price your product at whatever price point to be able to get that sale whether it be $27 or $97.
So here is what I do sometimes. With differen traffic methods that I find effective with my offers, I sometimes create separate videos or sales pages and on each traffic method, I sell my product at a different price point just to be able to cater to the audience of that specific market.
And I am cool with that I don’t care as long as I a making sales. If you learn to do that as well you will get way ahead with your online business.