Here's the Transcript:
Hey there, this is Prashant Sharma and in this video, we're gonna talk about How to price your products right for Solo Ads.
And the pricing strategies that you can use for almost any source of traffic online.
And here we go alright, so these are the different price points and how it affects the sales processes and your commissions, right.
So anything under $47, works best for cold traffic and Solo Ads is cold traffic, right. So there are 3 categories of traffic:
- Cold Traffic
- Warm Traffic
- Hot Traffic.
Cold traffic doesn't know you, don't trust you.
Warm traffic knows you a little bit or knows about your offer a little bit and;
Hot traffic, they want your product, right.
So in order to generate hot traffic from a list that you already have, you just have to send out an email saying that if you want this then just reply. And if they reply, you know that they're interested in your offer. That would be categorized as hot traffic, right.
So there's cold traffic, there's warm traffic and then there's hot traffic.
Cold traffic works best for anything under $47.
Now for anything over $47, so $47-$197 you need to have very solid long-form Sales Letters or a Video Sales Letter that's engaging but I still think that under $47 is what works best for Solo Ads, right.
Anything over $500, like a $500-$1,000 – Webinars with Q&A at the end work the best. It has to have some form of 2-way dialogue where people can actually ask you questions if they've any doubts because a sale is usually made when they're really hot.
So if somebody watches your webinar and they're excited about the message that you deliver in the content and you answer the questions you have a much higher chance of getting them as a client rather than, you know they see the webinar and then they send you a question and then you answer the next day.
The lead, they've forgotten about it, life has got in their way, they're not gonna give you the money later.
The conversion rates are gonna drop significantly if you use a pre-recorded webinar versus a webinar with Q&A at the end, right. So $500-$1,000: Webinars with Q&A.
Anything over $1,000: A call works the best, so you call them on the phone and answer the questions, figure out what their problems are, help them out with the solutions.
And then you know it's something that I learned from Frank Kern:
- Here's what I got.
- Here's what it's gonna do for you and;
- Here's what I want you to do next.
Here's what I got is where you tell them what you have.
Here's what it will do for you is where you show them that it's gonna help them alleviate the pain or just get rid of the pain completely.
And Here's what you gonna do next is where you collect the credit card information and you make the sale, right.
It requires a 2-way dialogue and a Q&A session, right. So the person who's gonna invests $1,000+ because there are so many scams that are happening online they want to interact with you. They want to have a 2-way dialogue.
And then anything over, like I sell $5,000-$10,000 and it always works the best with the call.
With emails, you're not gonna be able to sell a $5,000 for sure unless it's just a fluke or you're extraordinarily good at copy and emails and persuasion and a whole lot of stuff.
But with a call it's really really easy because you have a system to build that trust over the phone, show them that you can actually help them, you are a trustworthy guy and build that likeability and that's how business is, right.
People don't buy from people they do not like. People buy from people who they like.
So that's what you need to do.
If you have a $1,000+ price point and a special case with Solo Ads is because we're in the making money online or the home business industry, there are a lot of generic offers that get affiliates to promote the same offers without really doing much.
So generic offers would be something in which you get access to a sales letter and then you sell that as your own for the percentage of the clicks.
I hope it makes sense. If it doesn't, you've probably not been exposed to generic offers so just ignore this point.
But if you're promoting a generic offer use custom opt-in pages. You need to have custom email sequences, the standard ones.
They have been overused, they've been overexposed in the market so you're not gonna see the kind of conversions that you wanna see if you're using a generic offer unless you're using custom opt-in pages and custom email sequences.
And the reason why I'm making these videos right now is that I interact with a lot of people on a daily basis through my websites and my support desk.
And most people that I speak to they've been trying to make money with this online marketing thing for years with little to no success. They've tried blogging, they've tried social media, they've bought product after product, and they still not made any money.
They're jumping from one shiny object to the other but they're not getting any results. They sound desperate for success, they want to make it work, they're working hard but they just don't know HOW.
The fact is, there is a pyramid online that only a few people will ever talk about and most of these guys are at the bottom of it, the people that I interact with.
I've made a video revealing this online income pyramid so you can at least have a better idea of what you're doing and where you're heading.
If you would like to know more about this online income pyramid and how it's directly affecting your ability to generate commissions or sales for your online business, go to GIFunnel.com and spend some time learning how you're risking everything your time, your effort, your money to build someone else's business and making them rich.
I'm Prashant Sharma and I'll speak to you later. B-Bye.