Marketing Runs Deep: Episode 16

Hi everyone, this is Bryan Hatch, founder of AutomateBIG and I want to jump into another episode here of Marketing Runs Deep. I specifically wanted to go over my FAQ sessions. So this is one of the things that I get a lot when I'm going about and talking to different people, telling people what we do here at AutomateBIG. People always ask me a similar set of questions. One of those being, "Look, Bryan, should I offer something high price or should I offer something low price? What's the best strategy?" I talk with and work with, and we work with a lot of people that are selling informational products online. Online training, something that you can purchase and consume online. We help people with service-based businesses where they need it. Maybe what I'm doing as well is actually helping our clients. We need to take time. We do the service base, what we do, and then we also help other people that have products.

Typically those first two are the ones that I get this question most often, "Hey, I have these offers. I have this business I'm running. I'm either trying to grow it, or I'm trying to start it better, or I already made some money. What's next?" But the answer to this question comes in two parts. If you're on the first three years of your business, if you have been running things or starting, you're in the starting phases, and I think that's one to three years, you're in the starting phase. If you're asking this question of what should I offer, a low priced or a high priced item? The answer for those spaces specifically is to go with a high priced offer.

You see, you look at other people out there in the market space, and a lot of people that I have served and know well, I've done work for, Brendon Burchard, Ryan Deiss, JJ Virgin, Frank Kern, Suzanne Evans, Kerwin Rae, Angelique Rewers, Pete Vargas, Dean Graziosi, Growth.com, Ontocore, Brendon Burchard. I'm looking down. There's a list of people that I've worked with or know, and when you look at what they did early on in their businesses, it wasn't free book offers. It wasn't $49 offers. It wasn't $29 offers or $19 or $7 offer. It wasn't those things. That's maybe what they're doing now, after having hundreds, millions, hundreds of thousands or millions of people follow them. But initially, it wasn't that way. What they did is they offered something high price and became known for what they did. You should offer your high priced point item first. That's what you should do.

So wrap all of your marketing and your funnels all around that. If you have a high priced online offer, that's like a thousand bucks... A thousand bucks is debatable whether it's a high price or not, but still, to have someone pull out their credit card and pay for something online for a thousand bucks, that takes a considered amount of effort. But also if you are a service base and you have a $10,000, $5,000, $3,000 program that people need to get into, and that also works for the high price online offer, then go that way, go that direction, go with a high price offer first, and you will win. It's going to take some effort, it's going to take some work. But the basis of that is when you have a high price offer, they typically need to talk to somebody. So if you're going to have somebody that's a salesperson for you, make sure they can kill it for you. You're going to offer something for $10,000, they need typically to talk to someone to make sure they are ready for that kind of commitment.

So typically that kind of a funnel will look like some type of an opt-in or an application, and then they talk to somebody or you can do a webinar that teaches and trains somebody and then pitches the idea of your high priced offer. So there are different ways to get people in, but ultimately you want to get them on the phone to somebody and then from there take applications and then find out how your conversions are once someone talks to a human being. That's going to make you more money, that's going to do better for your business than spinning your wheels on low price offers that are going to cause the same amount of effort, but not the same amount of profit and revenue. A $39, $29, $19, down to $79 item or $7 item is going to take a considerable amount of effort and a lot of money to work up the value chain.

So when someone buys something for $7, typically it costs at least $7, around that amount to get someone to do that. But if you're shipping something to them or you're doing something like a free book offer, you're going to be drowned in costs. So, again, start at your high price, then once you've got your high price worked out, then work your way down to your low price offer. That's what all the gurus have done, and that's how you can make a huge killing if you just do this one little trick. This is one small way to AutomateBIG.