|
Article Directory
|
+ Authors
+ Articles
|
|
|
|
When (and When NOT) to Charge for Your Info Products
Copyright (c) 2009-2010 Judy Murdoch
One of my clients recently asked me whether she should charge for a series of tip sheets she created for families traveling with young children. Great question.
There's quite a bit of confusion around whether you should sell or give away your information products. About half the advice I hear favors giving information away for free. The other half favors charging.
The truth is, sometimes you should give information and resources away and sometimes you should sell them. The real question is WHEN to charge and when not to.
In this article, I'll give you some guidelines around when to charge and when to give information away.
=======================================
Start with What Your Business Needs Now
=======================================
Asking where your business is at and what you need to be successful is a great place to begin.
Every business needs customers, right? So let's look at how strangers become customers. They go through three stages:
~ Stage One: Visibility (V)
To become a customer a person first needs to know your product exists. You become visible by getting your product and marketing message in front of people who fit your ideal customer description.
~ Stage Two: Credibility (C)
Knowing that your product exists is usually not enough to get someone to pay cold hard cash for it. Nope, they're thinking "well, that sounds good but how do I know it will really work?"
During the Credibility stage you need to give them information that demonstrates your product will deliver as promised.
~ Stage Three: Profitability (P)
Once your prospect is convinced that your product will, indeed, deliver the promised value, they will pay you and become a customer.
=======================================
V to C to P = Marketing Funnel
=======================================
Picture a funnel with lots of people coming in the widest part (visibility), a percentage sticking around to learn more (credibility), and a percentage of those who stick around becoming customers (profitability).
At any given time in the life of your business, there are people at different stages of becoming customers. Some are learning about you for the first time, some are checking you out to decide whether they will buy, and some are deciding to buy and paying you.
Ideally, you have a steady stream of people constantly entering and moving through the funnel. If they don't enter or don't continue through, you have a problem and it shows up in your bottom line: You don't have enough paying customers.
=======================================
When to Give Away and When to Charge
=======================================
To decide whether or not to charge for an information product, I suggest you take a look at how many people are at each of the three stages.
Your goal is to use information products as an incentive for prospects and customers to take the next step.
~ When You Need More Visibility
If you're just starting your business or you want to enter a new market, you probably need more visibility. You need people to know your product exists.
When visibility is your goal, I recommend you give something away that provides value and introduces people to your product or service.
Why? The goal for visibility is to answer the following questions:
1. What is it ("it" being your product or service)
2. Does it help someone like me?
You want to give something away that will answer these questions while asking for something minimal from the prospect.
A common example is offering a free Ezine subscription or a free report your prospects can download in exchange for their E-mail address or phone number.
~ When You Need More Credibility
Credibility is an issue when you're getting a lot of first time visitors and inquiries but not enough are coming back.
For most products and services, people need repeated demonstrations of what you can do for them. They need to trust you.
When you are building credibility, I suggest you have two information products: one that is free and one that you sell.
1. A free product that allows you to build a relationship with your prospects. Products like Ezines are great because you get a chance to connect with customers once a month or more.
2. Product you charge for which offers a higher level of customer value.
Ideally, this is a "no brainer" purchase. Something for which the value is so obvious for what you're charging that most people don't need to think too long or hard about whether to buy.
Although you will be making some money, the real purpose is to demonstrate credibility and build trust.
Warning: The biggest complaint I hear is when someone offers a free report or one-hour teleclass that turns out to be little more than a sales pitch.
Again, you are creating value and building trust. Doing both will enable you to convert more prospects to paying customers when the opportunity presents itself.
A sneaky sales pitch will undermine the trust you are trying to build.
~ If You Need More Profitability
If you have a large, loyal base of readers, subscribers, or members who have been hanging out with you for several months and like what they're getting, some of them will want to invest some serious time and money for your focused time and attention.
For example, a consultant I know sends out a free monthly Ezine to her mailing list and sells low cost Tip Sheets, Checklists, and so on.
Each month 3-5 of her subscribers contact her to learn more about her workshops and seminars costing $500+. She usually books 6 to 8 engagements this way each year.
She explained it to me like this, "I try to provide something useful that my readers can apply right away. For example, I sell a $5.00 meeting organizer they can use to have more productive meetings. Sometimes this is all they need."
"But sometimes they're in a situation that goes way beyond the DIY stage. They need someone from outside the company to step in and help them set up a new system or to help them hire a new executive."
Allowing your prospects to upgrade (or escalate) and get a higher level of support is not only profitable, it's how you can really serve your clients.
=======================================
Bottom Line
=======================================
Whether or not to charge for your information products depends on what your business needs in terms of developing customer relationships.
The less known you are to people fitting your ideal customer profile, the more important it is to offer free or low cost information products which provide something of value.
As you build trust and as your prospects learn how you can help them, you can offer more expensive, higher commitment products for those who want (and can afford) them.
Judy Murdoch helps small business owners create low-cost, effective marketing campaigns using word-of-mouth referrals, guerrilla marketing activities, and selected strategic alliances. To download a free copy of the workbook, "Where Does it Hurt? Marketing Solutions to the problems that Drive Your Customers Crazy!" go to http://www.judymurdoch.com/workbook.htm
You can contact Judy at 303-475-2015 or judy@judymurdoch.com
|
Follow "The Phantom Writers" on Twitter
(@phantomwriters)
to be notified when new articles are made available.
VOTE ON THIS ARTICLE
Needs Work >>
0 -
1 -
2 -
3 -
4 -
5
<< Excellent Article
Tell our authors what you think about their article.
|
Top-Level Category: Business Online Articles || Related Categories: Business Offline Articles
10 Most Recent Articles Written by Judy Murdoch
Why Ker-chunk Needs to Proceed Ker-ching
Written by: Judy Murdoch |
Distributed: 2010-08-03 |
Word Count: 1010 |
Page Views: 105
This morning I was working with a client who was feeling
some frustration around defining the niche for their
business: "Why is picking a niche so hard?" my client
wanted to know.
Guerrilla Marketing: About Love Not War
Written by: Judy Murdoch |
Distributed: 2010-07-29 |
Word Count: 1061 |
Page Views: 202
| Votes: 1 |
Rating: 4.00
"Guerrilla Marketing" is a term coined by Jay Conrad
Levinson in his 1984 book: Guerrilla Marketing: Secrets for
Making Big Profits for Your Small Business. The term is a
spin on "Guerrilla Warfare," war tactics used by small,
often indigenous armies fighting larger, better equipped
invaders.
Dealing with Uncertainty in Marketing
Written by: Judy Murdoch |
Distributed: 2010-07-27 |
Word Count: 929 |
Page Views: 109
So often a business owner will say to me that they "hate"
marketing. If you are a small business owner who "hates"
marketing or even feels a sense of uneasiness when you
contemplate marketing for your business, this article is
dedicated to you.
What Marketing Do You REALLY Need Right Now?
Written by: Judy Murdoch |
Distributed: 2010-04-22 |
Word Count: 1224 |
Page Views: 234
Many small business owners I talk to always seem to be
playing catch up when it comes to their marketing. Last week
when I told a small business owner that she was doing a good
job with her marketing, she replied "Oh, but I have so much
to do!" in an apologetic tone. Listening to her I felt sad.
I mean who the heck laid down these requirements that a
small business has to have so much in place so fast?
Keys to Attracting Win-Win Strategic Alliances
Written by: Judy Murdoch |
Distributed: 2010-04-20 |
Word Count: 908 |
Page Views: 208
The most potent marketing strategy for any small business
owner is not a great website, or lots of Facebook friends,
or a killer networking plan. The marketing strategy that
will get you faster and farther than anything else put
together is developing strategic alliances with other
businesses so you can promote each others products and
services.
How to Persuade Without Really Trying
Written by: Judy Murdoch |
Distributed: 2010-01-19 |
Word Count: 1170 |
Page Views: 231
| Votes: 1 |
Rating: 2.00
Recently, the owner of a consulting practice contacted me.
In the email, she said that she needed an easier, more
predictable way to find ideal prospects. She had already
tried a lot of different things but nothing worked. So we
set up a meeting so I could learn more about her situation
and whether I could help. In this article, I will share with
you what "I" learned...
How Numbers Matter in Marketing
Written by: Judy Murdoch |
Distributed: 2010-01-14 |
Word Count: 1388 |
Page Views: 203
| Votes: 2 |
Rating: 2.50
I typically write a lot more about the "human side of
marketing," because I think topics like trust, sincerity,
and emotions get overlooked in most marketing advice
discussions. And no matter how clever your copy and fail
safe your system, neglect trust building and you will have
to work twice as hard at your marketing for half the
results. But that doesn't mean you can ignore the numbers
side of marketing. In this article I talk about why numbers
are important and how to make them work in your marketing.
Why Marketing for Services Stinks (and How to Make Sure Yours Doesn't)
Written by: Judy Murdoch |
Distributed: 2010-01-12 |
Word Count: 1386 |
Page Views: 264
| Votes: 1 |
Rating: 1.00
One of the greatest challenges of doing business in a
"knowledge economy" is selling what is intangible. If you
are a coach, a consultant, an alternative health
practitioner, or any other business owner who is selling a
service, you know how difficult it is to come up with an
effective message that gets across why someone should hire
you...
Using The Moment of Truth to Get Prospects Attention
Written by: Judy Murdoch |
Distributed: 2009-12-30 |
Word Count: 940 |
Page Views: 207
| Votes: 2 |
Rating: 1.50
The best message in the world will fail if prospects read it
out of context. If prospects see your message at a time when
they aren't concerned with the problem your product solves,
they will ignore it. Your message might as well be
invisible. Context is about making sure prospects see your
message at the "moment of truth": the time when they are
most aware of their problem and looking for solutions.
How to Be in Charge (without Being a Jerk)
Written by: Judy Murdoch |
Distributed: 2009-10-29 |
Word Count: 1068 |
Page Views: 293
| Votes: 1 |
Rating: 2.00
Earlier this year, I was working at a sales training seminar
and we were on the topic of handling customer objections. A
participant who owns a massage therapy practice was asking
how to best address a prospective client who didn't want to
follow his recommended course of treatment.
All of Author's Articles on this site: Judy Murdoch Articles
Most Recent "Business Online" Articles
Online Brand Management - 5 Benefits of Viral Videos
Written by: Enzo F. Cesario |
Distributed: 2010-08-31 |
Word Count: 854 |
Page Views: 82
Viral video is simultaneously the most entertaining and the
most infuriating element of online marketing. Let's clear
the air quickly: No one can promise you a viral video
success. Ever. Viral videos succeed because the audience
likes them and spreads them on to other people. If the
audience doesn't get it, the video doesn't go viral, and
there is nothing that can guarantee the response you want.
Let us consider the success of one particular viral series
to see some of the benefits available from this branding
tactic.
Building Brand Identity - Five Reasons Your Blog Needs a Ghostwriter
Written by: Enzo F. Cesario |
Distributed: 2010-08-24 |
Word Count: 907 |
Page Views: 93
A ghostwriter is any writer who creates content for a
project that will be presented under another name. Every
blog needs a writer to direct it, and blogs do best when
guided by one or two voices in a consistent direction.
Sometimes, however, the originator of a business or idea
isn't the one who can best capture that direction, and
that's when you should turn to a ghostwriter.
Building Brand Identity: How Wikipedia Defines Branding Success
Written by: Enzo F. Cesario |
Distributed: 2010-08-19 |
Word Count: 917 |
Page Views: 96
It is instructive and inspiring to take a look at the people
who have succeeded in your field. Whether it's an attempt
to learn from their mistakes and victories or just a pause
to reflect on the admirable accomplishments of another,
studying the work of those who've set the benchmark can
inspire reflection and spur us on to greater heights.
Creative Conjuring for Your Writing Team
Written by: Enzo F. Cesario |
Distributed: 2010-08-17 |
Word Count: 870 |
Page Views: 119
Let us suppose for a moment that you have made the decision
to hire a permanent, in-house writing team as opposed to
seeking out writers on a more per-contract basis. Now that
you've got them, what's the best way to maximize their
creativity? Have a look at a handful of techniques that have
been demonstrated to help spur productivity and creativity
in your writers.
Building Brand Identity - Tag, You're It
Written by: Enzo F. Cesario |
Distributed: 2010-08-12 |
Word Count: 955 |
Page Views: 92
A good tagline needs to be both memorable -and- honest,
focused on the brand and the truth about that brand. When
saying, 'tag, you're it,' the stress is on the -you-.
Make the tagline about your brand, and nothing else. Here
are some tag line tips to think about.
In or Out - Choosing the Content Service for Your Brand
Written by: Enzo F. Cesario |
Distributed: 2010-08-10 |
Word Count: 884 |
Page Views: 103
It's only a bit of an exaggeration to describe the debate
over in-house writers vs. an outside content service as
"raging." For any organization dedicated to producing
written content as part of its brand, it is an important
matter that eventually will need to be addressed. Each
method, of course, has its advantages and disadvantages;
there are no quick answers. But here are some considerations
that should make the decision a little easier:
How To Out-Socialize The Gurus On Twitter And Other Social Media
Written by: Marty Bradfield |
Distributed: 2010-08-06 |
Word Count: 1064 |
Page Views: 237
| Votes: 1 |
Rating: 5.00
Social media has long been touted as the latest and greatest
Internet marketing tool that will bring new people to any
online business seeking new customers... For most online
marketers, the social media environment appears over-hyped
and ineffective... But, this article will show you how to
find real success with social media marketing...
How To Get Your Syndicated Articles Opened, Read And Published
Written by: Bill Platt |
Distributed: 2010-08-05 |
Word Count: 1318 |
Page Views: 200
Syndicated articles can be a very powerful promotion tool in
the hands of the person who knows how to use them... This is
the reason why article marketing is generally a hot topic of
conversation... Unfortunately, not all of the conversation
is positive, because the vast majority of people who attempt
to utilize article marketing for the promotion of their
online business are absolutely clueless as to how to use
article marketing to its fullest potential...
Marketing Tip: There Is A Time For Selling And A Time For Closing The Sale
Written by: Marty Bradfield |
Distributed: 2010-08-05 |
Word Count: 1070 |
Page Views: 90
Most commercial webmasters enter the online sales process at
a great disadvantage... The disadvantage is that they have
never worked in sales, nor have they studied the fine art of
copy writing... Many webmasters spend a considerable amount
of time second-guessing themselves about when and where to
ask for the sale...
Online Brand Management - Deliver the Best of Your Brand with an Online Newsletter
Written by: Enzo F. Cesario |
Distributed: 2010-08-05 |
Word Count: 904 |
Page Views: 83
Emailed newsletters have the benefit of requiring fewer
resources, going out faster, reaching a wider audience with
less effort and being easier to correct if a mistake slips
in. However, many of them end up being ignored just as much
as their physical counterpart. Here are several tips for
making sure that even a newsletter can have the desired
effect and reach audiences with the message you want them to
get.
Most Viewed "Business Online" Articles
Attracting Readers to your Book
Written by: Alastair Hall |
Distributed: 2006-05-18 |
Word Count: 708 |
Page Views: 41636
| Votes: 9 |
Rating: 2.11
One of the common and obvious ways to market a self-published
book is having your own website. The harder part is how to
attract your target audience and then convert the sale.
How To Make Visitors Bookmark Your Site
Written by: Cheryl Miller |
Distributed: 2006-10-10 |
Word Count: 536 |
Page Views: 33978
| Votes: 13 |
Rating: 2.38
When visitors bookmark your site it is a sign that you have built
a great website and are pleasing them. Visitors think highly
enough of your site to want to return and possibly tell others
about it. You are not only increasing traffic from your existing
clientele you are encouraging new traffic by means of viral
marketing.
Treat Online 'Guests' With Respect
Written by: Rick Sloboda |
Distributed: 2007-07-27 |
Word Count: 472 |
Page Views: 26310
| Votes: 24 |
Rating: 3.71
Does your website show your customers lack of respect? Review the
following checklist to find out.
How I Got 70,000 Useless Visitors To My Site In One Day! (One Internet Marketer's Analysis of Social Bookmark Traffic)
Written by: Titus Hoskins |
Distributed: 2007-11-06 |
Word Count: 1545 |
Page Views: 22934
| Votes: 8 |
Rating: 2.13
Is social bookmark traffic useless? Is it even worth cultivating
for your site? Can it be used from an online marketing
perspective? Read to discover one Internet Marketer's analysis
of social bookmark/media traffic...
Tips For Building Your First Website
Written by: Benny Tsabba |
Distributed: 2007-05-30 |
Word Count: 1511 |
Page Views: 13201
| Votes: 9 |
Rating: 2.00
New people are coming online everyday. And many of those people
desire to turn their spare time into spare cash. So begins their
journey.
Increasing Productivity In Your Online Business
Written by: Willie Crawford |
Distributed: 2006-06-14 |
Word Count: 1407 |
Page Views: 3598
| Votes: 32 |
Rating: 3.72
Running an online "empire" of approximately 1600 websites and
blogs, selling a variety of products, services and ideas, I
have to be much more productive than the average person in a
"regular job."
A New Home Business
Written by: Angela Recchia |
Distributed: 2006-09-08 |
Word Count: 319 |
Page Views: 3411
| Votes: 7 |
Rating: 2.57
When joining a new affiliate program, many people do not know
where to go next. They join thinking that's all that is needed
without a plan of action. What is needed is promotion of your
program and getting others to join you. If you are motivated and
have the drive and knowledge to get you started. Then you are on
your way.
Who Else Wants to Know How-To Write an Effective Advertisement?
Written by: Bill Platt |
Distributed: 2007-11-09 |
Word Count: 1431 |
Page Views: 3250
| Votes: 20 |
Rating: 2.40
Webmasters struggle everyday with the question of how they should
advertise their website. There are so many advertising venues; it
is hard to know which is the right venue or the right combination
of advertising venues.
Credit Card Growth
Written by: Scott Burke |
Distributed: 2006-07-05 |
Word Count: 384 |
Page Views: 3195
| Votes: 9 |
Rating: 2.44
Industries that expand at such a rapid rate often are vulnerable
to fraud schemes devised by those seeking to capitalize on
newfound criminal opportunities, dated security measures, and
outdated laws. The credit card sector is no exception.
Click Fraud: Defining the Context of a Problem (Part 1)
Written by: Jim Hedger |
Distributed: 2006-10-12 |
Word Count: 1426 |
Page Views: 3191
| Votes: 11 |
Rating: 2.55
Everyone involved in search marketing considers Click Fraud a
problem issue though to what degree problems exist depends on who
is looking at the issues. Pay-Per-Click (PPC) search advertising
is the golden goose that makes the major engines financially
viable but the success of the PPC model, mixed with the nature of
the 'net can make PPC advertising a double-edged sword for
advertisers.
Highest Ranked "Business Online" Articles
What Kind Of Backlinks Are Best At Helping Your Website In Google?
Written by: Bill Platt |
Distributed: 2009-11-09 |
Word Count: 439 |
Page Views: 786
| Votes: 5 |
Rating: 4.80
I was in the Warrior Forum, and someone asked what kinds of
Backlinks are worth pursuing. This is my answer to that
query.
Making Money with High Paying Adsense Keywords
Written by: Blake Evans |
Distributed: 2008-12-18 |
Word Count: 536 |
Page Views: 572
| Votes: 5 |
Rating: 4.20
Google was ingenious when they came up with Adsense. Not only do
they get an opportunity to make additional money from their
search engines, but they also allow Internet marketers a chance
to make money in an easier manner. Why is this so? Well, with
traditional affiliate marketing, you must make a sale before you
receive commission. But with Adsense, all you have to do is
create content that will produce ads that readers will click on.
How to Keep Your Article Content Fresh and Interesting
Written by: Craig Ritsema |
Distributed: 2006-08-29 |
Word Count: 699 |
Page Views: 1355
| Votes: 17 |
Rating: 4.18
Webmasters everywhere are constantly on the lookout for fresh and
interesting content for their website. Along with these content
qualities is the requirement that it be unique. Everyone wants
their website to stand out above the others in the search engine
results. So what is the trick for you to keep a steady supply of
this quality content coming your way?
Is Your Business 'Out Of Site'? Employ The Ultimate Marketing Tool
Written by: Rick Sloboda |
Distributed: 2007-01-09 |
Word Count: 445 |
Page Views: 1392
| Votes: 18 |
Rating: 4.11
With the rapid expansion of the digital economy, the web site is
conceivably the most powerful marketing and sales tool you can employ.
Find out what a web site can do for you.
How To Use Your Race To Get Rich
Written by: Herbert Harris |
Distributed: 2009-07-07 |
Word Count: 1407 |
Page Views: 1718
| Votes: 40 |
Rating: 4.05
Amid recent news reports that there continues to be an ongoing
and substantial gap between the net worth of Whites and other
racial groups, it is easy to be distracted and overwhelmed by the
raw data. However, I am immediately reminded of a quote offered
by an economic expert from the past... "There are lies, damned
lies, and statistics!"
Secrets of Domain Parking - An Innovative and Easier Way to Make Money
Written by: John Khu |
Distributed: 2009-02-27 |
Word Count: 484 |
Page Views: 488
| Votes: 7 |
Rating: 4.00
Using a good domain parking services to monetize expired domain
names seems to be a neglected aspect with a number of domain
names traders. Domain parking is also an unfamiliar concept to
many inexperienced domain name traders. Read this article to
better understand domain parking and how it can be of benefit to
you.
Expired Domain Gains - Simple Ideas to Create an Income Base
Written by: John Khu |
Distributed: 2009-07-31 |
Word Count: 549 |
Page Views: 2403
| Votes: 14 |
Rating: 4.00
You can use a number of simple methods and plans to create a
solid income base that earns a monthly ongoing income base.
For many expired domain entrepreneurs (both full-time and
part time), expired domains offer an opportunity to
supplement their current income with money earned out of
dealing with expired domains.
The Most Important Ingredient for Info Product Success (is You)
Written by: Judy Murdoch |
Distributed: 2008-04-15 |
Word Count: 981 |
Page Views: 638
| Votes: 13 |
Rating: 3.92
Last week I was attending a conference and mentioned to someone I
help small business owners create information products. The other
person was very friendly until I said "information products."
Then the temperature in the room dropped about 10-degrees
How To Build A Website That Will Rank Well In The Search Engines?
Written by: Fred Schebesta |
Distributed: 2007-04-23 |
Word Count: 1064 |
Page Views: 1376
| Votes: 9 |
Rating: 3.89
Redeveloping your website can be a real challenge when you assume
your web designers and developers understand search engine
marketing. Unfortunately this is not usually the case. Most
designers are great at making pretty pictures and developers are
great at making great technology. But pretty pictures and great
technology don't necessarily give you great search engine
results.
How to Prosper Beyond Virtual Real Estate
Written by: Kamau Austin |
Distributed: 2006-10-17 |
Word Count: 1263 |
Page Views: 974
| Votes: 7 |
Rating: 3.86
We explore virtual real estate (VRE) sites as sites primarily
embedded with Google Adsense(tm) or Yahoo Publisher's Network (YPN)
ads.
|
|
|
Article Reprint Rights
|
This work is
licensed under a
Creative Commons
License
You are not required to show the creative commons license notice when you reprint this work.
|
|
Home
for Writers
for Publishers
Article Directory
Article Search
Get RSS Feed
