How do you choose the right product, one that will sell? Do you start with a high-priced product or a low-priced one? Here’s a model from an 8-figure marketer that you can easily implement without wasting a lot of time and with very low risk.
This model will remove the fear of spending a lot of time creating a product no one will buy. And it leads to the opportunity to sell a lot of products at a range of prices.
You can use this technique in any niche. And you can use it over and over again.
At the end of this post, I have a $7 offer for you to make it drop-dead easy for you to implement this model.
Find one simple, desperate problem
An example of a desperate problem is that people want to lose weight. There is no doubt about that. But that’s not a simple one; that’s a very complex desperate problem. A simple one would be to provide them with the best meal plans, quick meal plans to lose weight. So you’re taking a small chunk of losing weight; you’re approaching just one part of a bigger issue.
It’s the same thing with Internet marketing. The big problem is how to make money online. But that’s a big, complex, desperate problem. A simple problem is how to build a squeeze page in 4 minutes or less that converts at 25 percent. That’s simple and that leads to the next thing. Come up with an instant solution.
So you take a chunk of a large problem and for that simple, desperate problem that they have, you come up with a solution.
For example, one of the aspects of making money online is writing articles. So one of the problems they have with writing articles is they can’t write them fast enough, so suppose you create an instant solution for that. It’s a simple problem. I want to write articles faster. Solution: Here’s how you do it in 7 minutes.
Other people say, “I want to instantly get a ton of articles, so I don’t have to spend any time researching,” so create another simple solution: How to turn one article into 8 quicker than ever, quicker than you could write 2 articles.
And so what you want to do is find a desperate problem and to find the simple solution that’s step-by-step and that will give them the solution to their problem in a short amount of time. And you only have to write 5 pages, maybe 10 if you’re not a very good writer and you’re not very clear and you can’t get right to the point. Write about 5 pages with steps that anybody who’s dedicated can do; in one sitting anybody can write 5 pages. Put it out there. Sell it for $7.
Get instant feedback in the marketplace
The trick here is to get instant feedback in the marketplace to see if you are even close to meeting their need. The other cool thing is it’s very easy to write copy for a $7 item. So you don’t need to be an expert copywriter, and you don’t need to be very good at creating products. You can just sit down and write what is just a really long article. Sell it for $7.
Now get this, if it doesn’t sell, no big deal. Go back to the drawing board. Either create another report, either mess around with the copy and try it again or go to another niche. You’re not that invested so you can make quick decisions, see what happens, and then move on. And know where to go next.
Turn it into a $17 product
But if it does sell, then here’s what you do next. You now have a proven winner, so if they’ll buy at $7, they’ll probably buy at more expensive prices. Here’s what you can do:
- Outline that 5-10 page report into a mind map
- Shoot it, record it in video
- Export the video to audio
- Now sell it for $17.
Not only are they getting a report; they’re also getting a video.
If it sells at $17 or even if it doesn’t, if it’s still selling at $7, not a big deal. You didn’t waste that much time creating an audio/video series. You want to go back to that same niche and you want to isolate 2 other desperate problems.
So, for example, with copywriting you could create these 3 products:
- How to get more copywriting clients
- How to write sales copy very quickly
- How to write near world-class copy in 2 or 3 hours or less
Then you could provide a swipe file that gave them an instant solution–copywriting templates.
Those are simple desperate problems that you can provide instant solutions for and build a list of buyers from that. Anybody can do this:
- Make it 7 bucks
- If that sells, turn that into $17 or $27, whatever you think you can get out of it.
- Then write more $7 reports and start the process over
You’re going to get some buyers in from those products.
Maximize your buyers
Once you have the buyers, it’s time to maximize them. Poll them and simply ask them what they want. Just flat-out say, “Hey, I want to create the ultimate thing for _____ [online entrepreneurs, health-conscious Moms, etc].” So what I want to know from you is what you would need from me to consider it the ultimate thing. You got your buyers; they’ll tell you what they want.
Collect all of the relevant information they give you and create a massive package.
This is when you’re going to go all out. You’re going to try to solve that complex desperate problem now. Then you can add in all that other extra stuff and go hog wild. In this case, you make that big, thick, 90-page PDF or whatever. You can go out and interview 4 other experts on the subject and shoot a ton of videos. Try to pack in as much value as possible.
I call it a home study package. It has that thud factor so you can sell it for a high price – $67, $297.
Or do a membership program like I do. (Check out my membership program, Reach the Stars Club, here.)
Or you can do a coaching program.
Make many products from the big package
When you’ve got this big package, you can splinter it off into other smaller products that you can sell for $7, $17, $27 or even 37 or $47. Then you can modify some of those and give them away as free reports.
“Want to know ____? Sign up for this free report and we’ll tell you how.”
You didn’t have to create anything new. You’re just leveraging that massive home study package you created once you had a list of proven buyers.
That’s the $7 model. It gives you quick feedback and the flexibility to create many products from the original one.
Here are some $7 report ideas for you in 4 niches
Can’t think of an idea for a $7 report? I’ve collected 5 ideas for you in 4 niches–that’s 20 ideas in all:
- Internet Marketing
- Personal Development
It’s called “$7 products: 5 Ideas in 4 Niches.” You can get it here for (what else) $7.
Note: Most of the content in this blog post comes from a seminar by Jason Fladlien that I bought as a transcribed Word document from Dennis Becker (who bought the rights from Jason). It came with Private Label Rights so that I can publish it in a blog post. I’ve edited what Jason originally said to make it easier to read and add my own expertise. I wanted to give Jason credit for his ideas, even though I don’t legally have to.
What $7 product will you create?
Does this idea sound useful for you? Please leave a comment and share this post using the social media share buttons!