How to sell an "idea" online
What's an "Offer"?
The offer is simply your value proposition... in
other words, what are you prepared to give your
customers in return for their money?
Each time you send a product promotion to your
mailing list or post a product to sell on your
websites, those are all offers.
You see, if you ask people for money, you actually
have to give them something in return. Logically, NO
ONE is going to give money to you for free.
The key to making this work is by delivering
something that has a high perceived value that
actually costs you less than the product's selling
price. That's how you make a profit, that's how
all businesses make a profit.
Generally, to make money is to sell a product.
Take the amount of sales minus your product cost
and you'll get the profit.
This is simple to understand and yet, some people
can get the equation right.
The difference between your COST and the PRICE
someone is willing to pay for your products is PROFIT.
When I say 'profit' I usually mean 'gross profit'...
you still have to deduct your fixed and variable
expenses as well as taxes to arrive at your net profit.
From this point forward I'm only talking about
gross profit, unless I state otherwise.
And there is not another product on the face of this
earth with more profit-ability than 'information'. In
many cases, especially online, your gross profit on
an information product is 100%... you can't get much
higher than that.
But there is a problem selling information products
that is not a problem with other types of products.
The first problem is that you cannot take a picture of
them. The only way to describe them is through your
words... your sales copy, the text describing your product.
And unlike their physical counterparts, ebooks and
digital products do not even exist in the 'real world'
they are electrons.
If you tried selling electrons, how far do you think
you would get? I don't think you can convince
someone to buy electrons (smile). In the purest form,
that's EXACTLY what you're selling.
But what you're selling is what the electrons
represent which are 'ideas'... right?
These electrons are not electrons anymore but ...
they are "ideas" now.
If you're selling an information product of any kind,
digital or paper based, you're selling 'ideas', right?
Those 'ideas' are just the beginning though.
You cannot sell JUST 'ideas' can you?
Let's say you tell the world that you have this
great IDEA... but you didn't TELL them what the idea
was... and you're willing to sell this "idea" to
the first buyer for $49... do you think it would sell?
Probably not... but you never know. Some people
will buy.
If you said, I have an idea about "how to make
$1 million dollars" and you tried selling it for $49,
you would probably get many more buyers now.
But then again, if you sell these ideas WITHOUT
a detailed explanation, you're going to get refunds
for your sales.
Generic ideas (Or answers) will not make you rich.
Like I said, even if you sell a lot of those, you'll
get refunds.
What you need are DETAILED IDEAS or NEW IDEAS
to convince your prospect to pay you money for them
without asking for any refunds.
Let me explain further what are detailed ideas
and new ideas.
A generic idea to make money from the stock market is
to buy the stock when the price is low and to sell
it when it's high.
Detailed ideas are telling them EXACTLY how they
can buy low and sell high. Also, you might want to
include the procedures to do this.
"New Idea" are telling them how they can make money
from stock market without buying low and sell high.
For instance, how to get the stocks for free and sell
them when they're listed. Now, I don't think it's
possible to get stocks for free ... but if it's possible,
isn't that a new idea? If you have these new ideas
and they CAN actually work, you can expect to sell a lot
of them on the internet.
Customers are looking for details and new ideas -- NOT
just an idea, even though that's what you told them
they would get.
If you want to hit a home-run with selling your
Ideas ...
Include the DETAILS in your product they never
expect to find... you give them more than just an
"idea" you give them MORE details, MORE information,
MORE advice than they thought they are going to
get – and BEST OF ALL, give them NEW IDEAS.
Think creatively how to sell your idea when you
have one in mind. Remember, detailed and new ideas.
You "Chan" Do It!
-Patric Chan
---
The offer is simply your value proposition... in
other words, what are you prepared to give your
customers in return for their money?
Each time you send a product promotion to your
mailing list or post a product to sell on your
websites, those are all offers.
You see, if you ask people for money, you actually
have to give them something in return. Logically, NO
ONE is going to give money to you for free.
The key to making this work is by delivering
something that has a high perceived value that
actually costs you less than the product's selling
price. That's how you make a profit, that's how
all businesses make a profit.
Generally, to make money is to sell a product.
Take the amount of sales minus your product cost
and you'll get the profit.
This is simple to understand and yet, some people
can get the equation right.
The difference between your COST and the PRICE
someone is willing to pay for your products is PROFIT.
When I say 'profit' I usually mean 'gross profit'...
you still have to deduct your fixed and variable
expenses as well as taxes to arrive at your net profit.
From this point forward I'm only talking about
gross profit, unless I state otherwise.
And there is not another product on the face of this
earth with more profit-ability than 'information'. In
many cases, especially online, your gross profit on
an information product is 100%... you can't get much
higher than that.
But there is a problem selling information products
that is not a problem with other types of products.
The first problem is that you cannot take a picture of
them. The only way to describe them is through your
words... your sales copy, the text describing your product.
And unlike their physical counterparts, ebooks and
digital products do not even exist in the 'real world'
they are electrons.
If you tried selling electrons, how far do you think
you would get? I don't think you can convince
someone to buy electrons (smile). In the purest form,
that's EXACTLY what you're selling.
But what you're selling is what the electrons
represent which are 'ideas'... right?
These electrons are not electrons anymore but ...
they are "ideas" now.
If you're selling an information product of any kind,
digital or paper based, you're selling 'ideas', right?
Those 'ideas' are just the beginning though.
You cannot sell JUST 'ideas' can you?
Let's say you tell the world that you have this
great IDEA... but you didn't TELL them what the idea
was... and you're willing to sell this "idea" to
the first buyer for $49... do you think it would sell?
Probably not... but you never know. Some people
will buy.
If you said, I have an idea about "how to make
$1 million dollars" and you tried selling it for $49,
you would probably get many more buyers now.
But then again, if you sell these ideas WITHOUT
a detailed explanation, you're going to get refunds
for your sales.
Generic ideas (Or answers) will not make you rich.
Like I said, even if you sell a lot of those, you'll
get refunds.
What you need are DETAILED IDEAS or NEW IDEAS
to convince your prospect to pay you money for them
without asking for any refunds.
Let me explain further what are detailed ideas
and new ideas.
A generic idea to make money from the stock market is
to buy the stock when the price is low and to sell
it when it's high.
Detailed ideas are telling them EXACTLY how they
can buy low and sell high. Also, you might want to
include the procedures to do this.
"New Idea" are telling them how they can make money
from stock market without buying low and sell high.
For instance, how to get the stocks for free and sell
them when they're listed. Now, I don't think it's
possible to get stocks for free ... but if it's possible,
isn't that a new idea? If you have these new ideas
and they CAN actually work, you can expect to sell a lot
of them on the internet.
Customers are looking for details and new ideas -- NOT
just an idea, even though that's what you told them
they would get.
If you want to hit a home-run with selling your
Ideas ...
Include the DETAILS in your product they never
expect to find... you give them more than just an
"idea" you give them MORE details, MORE information,
MORE advice than they thought they are going to
get – and BEST OF ALL, give them NEW IDEAS.
Think creatively how to sell your idea when you
have one in mind. Remember, detailed and new ideas.
You "Chan" Do It!
-Patric Chan
---
posted by Patric Chan at 4:04 AM
2 Comments:
Hi, this is all good and well, but of course you can't sell anything without traffuc. fundemental I should think.
Many a good idea has fallen by the wayside becasue people can't find the information so of course any trafic
is good to sell that brilliant idea or product.Interesting blog topics thanks
Jon Perino
href="http://gippsland.com/web/AVIDTECH/">Avid Tech
I have tried the site www.ideatodo.com and the result is better than what I expected.
I posted the idea there once, and can collect money since then. Not bad. The idea was not as complicate as you mentioned, but the simple idea that can make a few bucks once awhile is not bad.
Besides, I do not do anything now and watch my account balance grows by itself.
CC
Post a Comment
<< Home