5 Things People Buy And Will Pay The Most Money For
When you are brainstorming things that you can create and sell, it is useful to know the primary things that people are willing to pay money for.
Things are changing. Well, actually, it changed a while ago. The things people buy online have evolved somewhat. Did you notice?
Selling information online isn’t as easy as it used to be. Why is that?
It is because there is SO much information out there already for free. I call it content inflation.
So, you have a couple of things happening… (1) People figure they’ll just find it for free elsewhere, OR…. (2) They’re so overwhelmed already, they just don’t give a crap about buying any more.
Perhaps this is sounding familiar to you. 😉
So, if you’re in the position of trying to do info marketing online, what do you do? Should you sink weeks of work into that next ebook offer?
The Importance of Understanding Your Prospect Psychology
A successful marketer doesn’t just sell knowledge. They sell what is most valuable to the prospect. The knowledge is a means to an end, but you SELL the end.
Not only that, but you have to realize what they REALLY want. They don’t care about a massive brain dump. When you try to sell that ebook, they don’t care about how big the ebook is and how much is in it. Usually, newbie marketers who go down that road end up on a race to the bottom…. they’ll try to sell on the “get all this for a really low price” approach. Hmmm….
That approach can still work in some markets, but it is working less and less. I’ve used it before. Most people selling online have done so. But, it has limited workability and isn’t a good long-term strategy.
So, while it might be a good idea to have some low-end offers out there which you can market in that way, the best way to make a LOT of money is to go for higher-end products with higher price tags. To do that, you need to think about what it is people are willing to pay the most for.
Here are 5 of them…
#1 – Speed + Convenience
People want an outcome of some kind. And they want it NOW. They don’t want to have to spin their wheels for too long. They want the runway to be shortened.
So, how can you provide them an outcome in a fast way and make it convenient?
How can you prove and show that the result they want will come quickly?
#2 – “Done For You”
Things need to get done. They know it. They don’t want to do it themselves. OR they don’t know how.
So, how can you structure an offer with a “done for you” component?
I’ve seen blogger courses offered where part of the deal is they’ll set up the blog for you. That is a nice “done for you” offer, and it removes a common pain-point for bloggers (the technical stuff).
We also offer “done for you” Wordpress marketing automation… where we can do things like set up membership sites and other site changes.
Unless you can automate this stuff with software, the “done for you” easily gets into offering services. Do you want to do that? Perhaps not and there’s nothing wrong with that. But, you can also explore more creative options.
For example, in the above blog setup offer, you could hire somebody overseas to do the blog setups (it is pretty repetitive stuff anyway).
#3 – An AWESOME Experience + Status
Around the world, you have some pretty well-off businesspeople paying large sums of money to be added to a waiting list to be a space tourist. They want to be one of the first civilians to go into space once it has been fully commercialized.
Why do they want to do that? Because they can, yes. But also…. because they want the experience and they also want the STATUS of having been a part of it.
People love to be able to participate in something that others cannot. And they love to brag about it to others.
How can you incorporate that into your offers?
It doesn’t even necessarily have to be just for paid things. In internet marketing circles, you see this being done in product launches all the time among affiliates. Ever seen a “JV Leaderboard”? It is the ongoing “top 10” affiliates for a launch. It is a matter of STATUS to be on that list. And sometimes, the seller will couple together an experience with being in the top 10.
I’ve seen others who will sell an online course, but part of their offer is to come to a live event for fellow students. That’s an experience.
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#4 – Leading Edge, Trendsetter
To get out ahead of the pack, to get in on something before others are able to. People LOVE to feel as if they’re “on the inside” and getting in on something before it takes off into some huge thing.
People will pay for a competitive advantage.
Can you build that into your offer? Can you show how people who buy your product are going to get an edge over others?
#5 – Access
This is a biggie. In this world of information overwhelm, it is ironic that what people value most is good old-fashioned human interaction. You can cut through the noise and get it from the horse’s mouth, so to speak.
Why can a politician charge multi-thousands per plate for a fundraiser dinner? Because those people want access to the person.
Why do people pay extra for back-stage passes? So they can meet the artist.
You don’t have to be a celebrity to do this, either. How can you provide and offer access to you? Perhaps 1-on-1 phone consultation? Direct email access? The experience of flying to you and spending the day with you so you can personally help them?
Brainstorm This Stuff
You should take whatever it is you are offering and see what you can do to make the offer much more valuable and charge a higher price for it.
It also really helps to brainstorm your offer from beginning to end. We’ve got a whole process for this inside our Offers That Convert course.
If you’re just offering another ebook, you’re in the crowd with everybody else.
Find out what your target prospect REALLY wants, what their ideal outcome is, and then brainstorm these 5 points to come up with an AWESOME customer experience that will just WOW them.
Then, you’ve got a customer for life.
It doesn’t seem like there is money left to be made anymore. With Walmart and others online, and Facebook as a go to social media forum. Adding the whip cream of the streams of information on the net for free, it seems like a drowning feeling of despair. You see psychics, mega evangelists, too many dating sites to count. This is where ppl find value. But really it is all about one thing money! You can be a hard worker, you can be smart, you can be people friendly, dependable. But ask yourself how many times have most of you ended right back to the drawing board to find that 1 thing that works. Problem is there are billions just like you. All one one drawing board. smh…..
And yet, people are starting businesses every day. Honestly, in this day and age, with the technology we have and all the ways there are to make things work… the only thing stopping you from doing it is this very attitude.
i am just wondering… is the person with no experience in emarketing, no experience with automated selling online PRODUCTS is such person able to get anything out of his work? Or this is some kind of a secret knowledge and you gotta be focused on english-speaking audience to earn money online by doing something good with high quality?
You have to do something good and high quality, yes. Isn’t that what YOU would want to buy, as a customer? You want something good and high quality, right? So, if you want people to pay you, you have to give them something like that.
And, no, there’s no secret knowledge. You have to be willing to work hard, learn, invest in yourself, and make decisions.
Some really great tips. Although it might depend on the situation I think the most important one is convenience. People have busy lifestyles today so if they can shave at least few minutes off a task using an app/service then they will go for it.
Definitely gonna give some thought to the access ones. You’ve opened my mind for some additional revenue streams.
Spot on! When you strip everything away, what your customer really wants is to feel like they are important. At the end of the day if you can offer a solution to a problem and make your customer feel valued, you’ll have a customer for life!
good points and universal – AND – Letswin’s “Happiness” is in there – when you bring the first 5 points home, the happiness is coming pretty quickly —
Once a marketer teach me that people buy because of emotion. These point that you point out are good accessories to the emotion think.
Great posts. I prefer to pay most of my money for Happiness.