Here is an example product ladder from free to 5-figure services. This is an excerpt from my recent book, “More Clients Today.”
Always have something available for the right person to buy. What is the right person? The right person is someone who is ready to commit to bringing about the change in their life, business, relationship, spiritual connection, health, and they are actively looking to invest their time and money into a solution that fits.
Let’s start at the beginning and go all the way to the top-tier offerings.
a. Free download for an opt-in – Usually an audio recording, video, video series, recorded webinar, blueprint, guide – something small and powerful for free and available to the visitor instantly once they enter their name and email address.
b. Tripwire – Used as an initial offer in lieu of an opt-in or directly following the opt-in page. Sometimes seen as,
Great, your free guide is available, however if you want to get even more [result], be sure to get my advanced guide for just [$1, $7, $17].
A tripwire is a self-liquidating offer that basically pays for all of your ads to get people to your site. It also identifies buyers from tire kickers. Some even do a second up-sell off of that – a second up-sell is sometimes referred to as “up-sell hell.”
It’s not a good first impression and can leave new buyers of your tripwire second-guessing your motives and may even feel used.
c. Introductory Offer – This is your one-time charge of $97-$297 for an online program. Usually delivered in a completely automated way. Once created and profitable, this is the closest thing I have ever seen to legally printing money.
d. Low-Ticket Continuity – This is popular with people who are looking to gradually win dozens to hundreds of people over to higher-level investments in the future. These programs are usually $97-$197 a month. Many times it can be as simple as a weekly Facebook Livestream within a secret Facebook group where members communicate with each other.
Some groups are run like a program with an end date. Your program can have a completion or horizon date; One month, three months, six months and the cycle is complete. Other groups one pays monthly for ongoing training, updates, access to other members and feedback from the instructor or mentor and/or moderator.
To leverage your time, you can make an agreement with past or present rockstar students or clients to moderate the group and answer simple questions. Just be sure you are super clear on responsibilities and expectations.
e. Event or Online Training Version of Event – This is where they invest $1,997 to $5,000, sometimes as much as $10,000 to work closer with you for a limited time. This could be a large-scale seminar where they learn in a seminar setting and network with other like-minded people, a multi-day workshop where they have you help them through specifics of their business.
For people who cannot attend the live event, you can offer the same content online over the course of 6-8 weeks. You can supplement this online training with weekly group phone calls to add value and help people get their results.
f. Short-Term Mentoring – This offering allows the client to become mentored through that thing that you do so well to become like you, possibly even do what you teach.
A lot of mentors don’t like to think of it this way, yet this is how mentoring has been for eons. I will teach you to be like me, even surpass me. Today some mentors get frustrated when their students “copy” them and begin to teach what they were taught. This was because they never DTR’ed. That is to say, they never Defined The Relationship and what is required as well as who holds the rights and usage of the material taught.
I don’t go out and copy and paste what my mentors teach because I love to innovate, improve and customize from my experiences to find the next evolution.
There are no original thoughts. We are combiners of our training, experiences, conversations, books, films, videos, we pull from it all and create something new. Mentoring is a transference of what you do so well to someone else to do so well.
Mentoring gives people the opportunity for a defined period of time, usually 8-weeks to 3-months. You do not want it to go on indefinitely as you want people to get their results quickly, not a year from now.
Making it shorter forces you to help them get results quickly which is better for everyone. It also shows you who is best to repeat your program and who is ready for the next level.
Mentoring is a transfer of your years of trial and error and your successes to another. This is a huge value and many coaches charge an average of $1,000 to $5,000 for the short term opportunity.
Create an agreement for mentoring clients to sign that defines what is acceptable to do with the information they learn through you.
Information changes so fast, we are all aggregators today just to survive and adapt. The best at this thrive. Follow the people who are evolving and growing, not living in the past.
g. Platinum Mentoring Group – This is for those advanced clients looking for ongoing support within a group of people who have proven themselves and want to work together and learn from each other as people who have accomplished much in what you train.
Platinum groups are excellent for those with success who are now ready to scale what they are doing well at already. I would recommend not allowing any newbies in this group as the value of the group are in its leadership and members.
You are still the leader and responsible for keeping people in line, setting up accountability, giving feedback, connecting people, challenging people and answering members’ questions.
If you figure that people were paying $1,997 to $5,000 for 2-3 months, you can deduce that a higher level group would command $2,000-$5,000 per month. Yes, per month.
h. Individual Consulting or Coaching – As I see it, a consultant comes up with a strategy for you and you or they may implement it.
I’ve found that the best coaches are there to ask you questions that you answer yourself. I pay coaches top dollar for them to ask me questions so I learn to think differently and come up with answers myself.
If on the other hand, you want someone to give you their answers to you, that’s a consultant.
Some people like the 1-1 model, however, I normally would have people coach or consult with me before a Platinum Mentoring Group. Why, because in a group, they can learn from all members, not just me. The network has more value than just access to me. So, in a way 1-1 is not leveraged for you and it’s not in the best interest for individuals who want to get the most for their money.
I offer 1-1 coaching at a higher price and as month-to-month or 3 months. Why? Because I do not want a contract with someone for a year that I know I owe 4 or 8 hours a month too. Consult or coach for a brief time then get them into a group that fits them.
i. Mastermind – First of all, the term mastermind is used waaaaay to much to mean advanced mentoring. I’m guilty of this myself.
A mastermind is an exclusive group where paying financial dues isn’t the only requirement. A true mastermind is a tight-knit group of equals who have a code that they abide by and they collectively choose the next member after a vetting process.
So, someone paying YOU $50,000 to access YOU and hang out with other cool people is NOT a mastermind as people like Napoleon Hill would call it. Call it Platinum Group or VIP Mentoring or something other than Mastermind.
What people so popularly call masterminds today are the new country club. It’s status and access.
The Mastermind to me is the pinnacle and should NOT be charged for. You heard me right. Masterminds should be FREE and super-exclusive. It is a commitment unlike you have ever experienced before. I believe it can be stronger than a marriage.
The payment is not money, it is all-in, 100% commitment to each member, 24 hours a day, 7 days a week, in sickness and in health. If not, as people succeed, they leave the group. Let them know that as one succeeds, all succeed. This is why everyone is hand-selected by the other members.
It is a group of people who collectively share each other’s minds, and contacts and all work together in a spirit of absolute harmony, rather than work separately as individuals.
TACTIC 1: 10 x’ing your offers. Think of the 10 x as your product ladder. If you have a $47 program, what is your $497 program? If you have a $497 program, what is your $4,997. If your top is a $4,997, what is your $50,000 program? Multiply by ten.
Even if no one has purchased one yet, you know you can go there. You have that level defined and you believe that you have the value within you to offer them.
What would your $100,000 program be? You think I’m kidding, yet no one will ever buy a program you do not believe you can deliver on.
TACTIC 2: Group = Leverage. 1-1 anything does not allow for any leverage, it is dollars for hours or a high-paying job. Get people into groups and you can have moderators and assistants help you. Also, other experts in the group can also share in the teaching and answering. Are you okay with not being the know-it-all?
TACTIC 3: Over-automated. Don’t get into the online marketer trap of automating everything – especially when you are starting out. Automating is cold. It takes out any person-to-person interaction. Be slow to offer things where people get no access to you.
Also, be sure that even though they may have paid $97, how you serve them by answering their questions and over-delivering on value will make it that much easier to upgrade people to the next level.
When people feel like you don’t care and there is no contact with you and slow to no customer service, they disconnect from you.
TACTIC 4: Sell then create. Offer something completely new to your list. This is something you create after your sale.
You are selling the end result. Create the roadmap of what you will need to cover and put them in a logical order and present or record weekly modules and sell it before you create it.
If you can, create a program with high value and low time investment for yourself. Would you have a win if only one person buys it?
The worst case scenario is that you sell one and you didn’t charge enough. If you sell none, it’s okay; you didn’t put any time into delivery because you never create it. Create a simple win whereby making a single sale, you are profitable.
Always stay one or more weeks ahead in your content creation. Learn from new clients what they need and create that; paying clients who apply what you teach have the best feedback when it comes to content creation.
Agree that they get a special price because you are looking to collect testimonials from rockstar students/members/clients who implement. Get feedback on how to make this product better and sell the 2.0 improved version using their testimonials to the marketing the next time around.
TACTIC 5: Refresh. Simply repurpose a former training. What was your best-selling program in the past? What would it look like if you offered the “new and improved” version today?
If you’ve sold trainings in the past successfully and have all of the original content available to you, (original slides, video project files, word documents, layered graphics) you can fairly-easily refresh a training or service that you offered in the past. Retitle it. New graphics. New videos.
Update the training so that it is 100% applicable to where the market is going next.
Take all of the positive feedback and use it as marketing material. Use the negative feedback (Facebook posts, customer service emails and member forums) as ideas for you to improve upon it.
If you have an email list, ask people if they are still interested in getting [ the big result ]. If you get a lot of yes responses, be sure you reply and engage with each of them individually.
Does all of this sound good and you’d like some help with the strategy, release, offer and up-selling and down-selling process?
Reach out to me and fill out the short form here and I will be in contact with you.
Matthew J Peters
Bestselling Author & President of the Brilliant futures Institute