Not long ago I spoke to a very good marketing friend of mine who happens to know what clicks when you are about to release an information product.
He has worked with Frank Kern before and he dropped a lot of wisdom bombs on me that day.
To make a long story short, I told him I was working on a WordPress training (Authority Blog Profits) and that it was almost complete but still lacked a few technical things here and there.
He got a bit pissed (in a good way) and told me something like this:
“Dude, if it’s not ready yet, you need to start building a LOT of buzz already. It doesn’t matter if you release it next week or next month but start spreading the news!”
My response was that I didn’t want to promote my own training because I wanted to give affiliates the chance to make the most money possible and he didn’t agree with that at all.
Then he literally said:
“Forget the affiliates. What you have to do is create a banner or anything that resembles the product and put that everywhere. Twitter background, facebook header, youtube header, your blog sidebar, etc. Affiliates are going to benefit from that as well and besides affiliates have their own audience and can come up with bonuses and shit, seriously just start telling everyone about your product.”
It sounds a bit too extreme to me but it also sounds like common sense so I’ll talk a bit about why it has taken so long to put this out there and all the little things that happen behind a silent launch.
“Coming Soon” Squeeze Page
I created a “coming soon” page to capture name and email addresses from people who were interested in the training.
Either for buying or promoting it.
I got a nice response but a few days ago I decided to remove the page (it’s still there, it’s just not the front page for AuthorityBlogProfits.com anymore) and linked that to the sales page already.
Doing this placed a bit of stress in myself (which was exactly what I wanted) and now I do feel I have a very strong urge to finish the website and submit for approval.
Lack Of Money
This WordPress training took me a while to put together (it’s a very long story too) and during that creation time I had money at times and I just had enough to survive at other times.
Even though I own a few credit cards myself, I hit rock bottom a few times spending the whole limit on all of them.
I mean just look at these numbers:
- hosting reseller account: $600
- hosted videos: $400
- security script: $300
- WordPress theme: $100
- autoresponder account: $200
Obviously when you already own any of these you don’t have to pay for them again (with some exceptions like the autoresponder and hosting account) but spending $1,600 for someone who is not on a very good economic situation can definitely be a leap of faith.
So unfortunately this took a tow several times on the training so it became an on- and off- kind of project and I adopted the very wrong mindset of “it will be published when it gets published, I don’t want to know any more about it so stop asking me about ABP, period.”
Money wasn’t the real issue though because I do have access to five figures any time I need it (that’s credit though) but the main problem was the lack of confidence I had.
Not The Best Self Confidence
A few friends stopped believing in myself (or my product) and it affected me in a very negative way.
This happened at a time when I was listening to every single thing that was said about me (good or bad) and I couldn’t stomach negative criticism that well.
Right now I’m a very different person with a stronger mindset and this is one of the main reasons why I decided to publish this article regarding all the ups and lows about this product.
Upsells And Downsells
Another thing that drove me crazy until very recently was the special offers I was going to create for the training.
Should I create one membership level or several with different price points?
Big marketers always recommend to “stop selling when people stop buying” and that way you never leave money on the table.
As a buyer myself, I have a very strict policy regarding upsells and downsells.
If they really contribute to the product I don’t mind them at all but not many people feel the same way so I have to be careful with this.
I asked around and some people suggested having some of the training for a basic membership level and the advanced section for a premium membership.
The idea was good and I even thought about creating a free membership level that had access to just one of the modules.
Then everything started to get more complex as I was told that the marketplace I was going to use wouldn’t instantly approve my upsells or downsells and that it would be better to just have one level instead and implement any special offers at a later stage.
Instead of freezing out on this (which absolutely happened) I should have just submitted the training -with or without the special offers- and just roll with the punches.
So right now I’m back to creating one upsell, one downsell and craft a few consulting and “done for you” exclusive offers for member’s only of course.
Note: I wasn’t going to offer any of the upsells, downsells or any extra services but after working with a few clients of mine who already know the basics of WordPress, they are still happy to pay me to do their websites for them.
People save time, it is not a huge investment and they get to pick my brain with new ideas on how to get the best out of their websites so it’s a green flag for these special offers.
This is still something that has been bothering me even on my sleep.
I surveyed everyone who finished my free seven day marketing training and one of the questions on the quiz was:
How much would you be willing to pay for a full hands-on WordPress training that has it all?
By “all” I mean something like this:
- WordPress site building
- Theme customization
- Lead generation
- Traffic strategies
- Membership sites
- Squeeze pages
- Hot seats (student’s material reviewed on video)
- Suggestion box
- Private facebook group
- Live Q&A webinars
And these were the pricing responses I received:
- $9.95 Monthly payments
- $47 One time, lifetime updates
- $97 One time, lifetime updates
- $197 One time, lifetime updates
- $297 One time, lifetime updates
Most people selected the $47 and the $97 one-time offers.
A very big number of people said they preferred the $9.95 monthly payments instead which I wasn’t expecting at all because I thought people normally hated recurring payments, silly me.
Anyway, the training was meant to be sold at $97 but given the fact that marketers continue to sell their trainings at $4.95 or $9.95 I thought nobody was going to get this training at $97 so I dropped the price by half.
I wanted to make it a no brainer kind of investment so instead of $47, I went a bit further, trimmed $10 from it and left it on a fixed launch price of $37.
Some friends told me that if I kept dropping the price they were not going to promote it because you can’t cheapen out a very extensive training that delivers that much value (a few persons already went through the training and the feedback has been nothing less than fantastic stuff).
The least money I ask for a basic WordPress installation offline is $500 and a full website at $1,500.
So how on earth can a training that includes teaching you exactly that, which only represents about 10% of the whole training cost any less than $500 then?
But I know, I know.
Offline marketing and online marketing are a bit different (at least in my personal experience) and that’s how I know this product is way undervalued at only $37.
Price Will Go Up Or Down With Time?
You normally see products being depreciated with time, meaning that for something you may pay $497 right now, you may pay just $397 on a special day or even half its price, you get the idea.
I really can’t say I’m never going to offer this at any less than $37 but if Clickbank allows it, what I’m going to do (or at least try) is launch this training at $37 (so far) then bump it up to $47 and aim to make it reach the $97 price point.
Obviously nothing is set in stone so I may actually leave it at $47 and include a monthly membership for people who want to be able to reach out to me in a more direct way and more frequently.
I wanted to talk about the technical aspects behind the Authority Blog Profits training but this article is more than 1500 words now and some people don’t have time for long posts.
So I’ll leave it here, maybe in the upcoming days I can write about it again and talk about the technical stuff which is always interesting if you have never launched a product yourself.
Thanks for reading and if you have any feedback on anything I just wrote here, I’d truly appreciate you taking the time to comment on the thread down below.