Turn Your $27 eBook Into A $2700 Info Product
Often a potential client will approach wanting me to write copy for a relatively low priced ebook. Usually in the $27 - $67 price range.
One of the first questions I ask is “what’s your backend product?”
The fact is it’s hard to make a lot of money from a single ebook. Yes, it can be done, but your chances of becoming wealthy from one ebook are slim.
At $27 you’d have to sell 1629 copies to make the U.S. median income of approx $44,000. Figuring an average 2% response rate you’d need 81450 unique visitors to your website. About 225 a day. Again, it can be done. But traffic like that usually takes time and/or money.
A safer bet is to expand your product line and create high ticket information products.
Let’s say you create a $2700 info product and offer it on the backend to your ebook buyers. With the same 2% conversion rate on the ebook, and a conversion rate of 2% on the upsell you’d only need 550 ebook sales to hit the $44,000 mark. That’s the same amount of money with 1/3 the traffic and customer support issues!
Now, what if you sold the $2700 product straight from the website? You’d only need to sell 16 copies to hit the $44,000 mark. Even with a meager 0.5% conversion rate you only need 3200 visitors a year, or 8 a day. That’s the same amount of money with 1/25th the traffic and 1/100th the customer support issues!
Of course, you might not be able to justify a $2700 product in your market (although you might be surprised). But even a $197 backend sale on a $27 product will make a dramatic difference to your bottom line.
And a strange thing happens when you sell high ticket items. You often find your refunds go down. Your customers are more likely to take action, and less likely to complain. Sometimes your conversions actually increase.
With a higher profit margin and less customers you’re able to provide a more hands on service and a better overall experience — exactly what people are looking for.
Luckily, turning a low priced ebook into a high ticket information product is a lot easier than you might think.
You take the same basic information in your ebook and look at ways to increase the value of it in the eyes of your customer. Anything that helps them get their result easier, faster, or with less risk.
For example…
- Provide case studies and examples. Showing real life results of the product in action can help solidify concepts in peoples minds. It’s also a form of social proof and a confidence boost.
- Add audio. Some people hate to read and learn better via audio. This also allows people to digest the information while driving.
- Add video. A short video demonstration is often the most effective way of explaining something.
- Add a quick-start guide. No one wants to spend a few days going through a 300 page manual + 18 cds and 10 dvds. A quick-start guide allows them to start using the information right away.
- Provide proprietary software. Create software that takes care of any repetitive tasks.
- Convert to a physical product. Hard copy allows you to take notes, bookmark and read anywhere. There is also something more “real” about a physical product so it has a higher percieved value.
- Bundle services. Throw in services that support your customers in their quest.
- Let them touch the hand of god. Make yourself available to your customers. Give them your personal email or phone number. Answer their questions.
- “Done for you” samples. Don’t just tell them what to do, actually do it for them! Make everything paint by numbers.
- Provide checklists. Most results are easily duplicated simply by following the same steps. Make it brain dead simple for them to follow in your footsteps.
- Give them your private rolodex. Grant access to the same resources you use. Your vendors, partners and affiliiates.
- Add a membership site. Create a membership site with private forums and extra resources. A place where customers can come and share knowledge, tips and tricks.
- Test them. Turn your info product into a course, complete with tests, grades, and certificates of completion.
Remember, people don’t buy information, they buy what that information can do for them. Make it easier for them to achieve their desired outcome and you increase the value of your product.
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