I have seen many people who are new to marketing complain that they are not earning 5 figures a month.
So, me being the curious gorge me, ask them what are they selling…
$7 reports
$17 ebooks
$27 video sets
\”Okay, let\’s do some math. Five figures a month is $10,000 or more. How many of these 7-dollar products would you need to sell in order to make $10,000?\”
“I don’t know,” they say.
The answer is 1,428.
What about $17 ebooks?
If you sell 588 of those a month, you’ll make five figures.
Yeah, but what about $27 video sets?
You only need 370 people a month. That is 12 or 13 people every day.
If 5% of all of your visitors are interested in your product, you will need 360 visitors a day to achieve that.
It will cost money to drive traffic to your website. If you sell a lot of products, then it will be worth it. But if the basic structure of your business is not profitable enough, then you need to change what you do.
You see where this is going.
It\’s like buying a car that can only go 50 miles an hour. And feeling disappointed and mad when it won\’t go 100. It just can\’t do that speed, and your business might not be able to earn $5,000 in a month.
Low-priced products are good to build a list of buyers and to advertise with. You pay $100, but then you get $100 back. And you make more money because you have a list of people who want the low-priced product and another list of people who want the expensive product (the expensive product is where the real profit is made.)
If you want to make $10,000 a month or more, then you will need to either sell something that costs more money like a course for $197, or coaching for $500. Otherwise, it will be hard to make this much if you are only promoting $7 products.
We will talk about the $197 price tag. To earn $10,000 a month, you need to sell 50 of these a month..
Or you can sell 20 of the $500 coaching.
The point is, if all you are selling is small things, then you can\’t complain if you\’re not making any real money.
It\’s time to make changes in your business. If you are not selling enough profitable products, stop doing that.
Don\’t tell me that your list won\’t buy expensive products because I know they will. They are already buying from other marketers, so why not from you? Build trust with them and some of them will buy anything you offer.
But the first step for selling big-ticket items is to believe that you can do it – if you think you can, then you will.
If you just started a business, it can be hard to have a lot of products. But you can add multiple products to your line. You could also add a membership site, newsletter, or podcast. You should also add some products that sell for $47, $67, and more. Find affiliate products you love and believe in that earn good money per sale.
This way you can work your way up to the big-ticket items.
It\’s crazy that I know one marketer who doesn\’t sell anything with a price less than $1997. This is because he doesn\’t need 500,000 people on his list. He has 5,000 people on each list and this works well because every sale makes him money.
What he thinks is that it\’s a waste of time to sell things for $17. But he can make one sale of $1997 or 117 sales. He chooses to make one sale and OMG as I am writing this, I too need to focus on selling higher-priced products 😆.
I guess there is a lesson here for all of us.