Do you have a low-price ‘tripwire’ offer?
You know, something that sells for less than $100 bucks and is meant to give paying clients a sample of all the expertise you’ve got?
And if you have a low-price offer, is it making you enough cash?
The problem is that unless you have a high-ticket offer to sell on the backend (ex: a $2,500+ coaching program, mastermind, service or seminar) it’s impossible to earn enough with a low-priced offer and keep the lights on.
The thing is, a lot of the gurus taught our industry to start with a low-price offer.
And while that worked a few years back, it no longer is valid.
Because ad costs have skyrocketed.
So to recuperate your ad spend, you’ll need to build that big ticket offer that you can upsell. That’s where the money (profits) starts to come in.
Now, don’t get us wrong. You do need to have a low-price offer…but that should come AFTER you have something more expensive to offer so you can hit cashflow.
No cashflow, no business!
You’ll be stuck in your career, or spinning plates as you run your offline ‘brick and mortar’ business.
Number one, if you've got a low ticket offer and you really want to start generating more cashflow in your business, you can add more value to that offer so that you could raise the price.
For instance, Anna had a ‘Never Diet Again’ program that was just a system of how to really think about food, fitness, and feeling good. But it wasn't a high priced offer until she decided to offer more access to herself. Buy adding on more value she could raise the price.
The best way to do this, and not eat up all your time, is to offer Group Coaching Calls.
The easiest (but most costly) way to flood your online expert brand with fresh leads is to run ads.
However, if your offer is under $100, then you’ll probably end up spending that (or a whole lot more) on ads. So you’ll be losing money day by day. That sucks.
What you want to do is add what we call ‘profit maximizers’ (or upsells) on the backside of a low ticket.
So if you spend $150 to get someone to buy your $47 low-price offer, but they buy the $500 course you offer as the upsell, and you get 33% of your buyers to take it, you start to make a profit.
Sales ($141 + $500) - Ad Costs ($450) = $191 in profits!
The third thing that you could also do is extend the length of your course.
For example, you could convert your three-week program into a three-month transformation program. So it's no longer just this little product…now it’s a memorable lifestyle change!
And when you do that, that requires a high ticket. That's something that someone's got to be fully ready to invest in.
If they want that result, they want that transformation, they'll be willing to invest in that process.
It's just a bigger promise, more results, longer duration of time. That allows you to start charging over $2,000. That's going to help you start generating a lot more money so you can start things up without breaking a sweat.
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