Last month, I ran the Price Increase Promo Challenge. One of the people who took me up on it was Chris Howes, who runs Creative Strings Academy, an online music school.
Over the past few days, Chris ran his price increase promo for a course he delivered last year and sold for $30. This morning, Chris wrote me with the results:
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JB- I’m fucking swimming in sales over here!!!!!
63 sales of the $30 product based on PIP (“get it before it goes up to $67”) Remember I originally sold 74 of them at the launch in December. That’s almost as many as I sold the first time. So thats $1900.
Tons of the original 74 buyers bought the new Pentatonic Patterns PDF and Web App. And lots of the new buyers also bought the new thing at checkout as upsell.
We did about $1500 on that product. Which i will split with my developer and he will be super happy, because that is a good payday for the few hrs of work he put in, and now it’s launched evergreen.
And then I had sales of other upsells on the checkout pages as well…. which I didn’t even remember to add until the last minute.
I want to try to sell everyone who bought something on joining the membership tmrw or this week, because every new member gets a free private lesson with me, which what could be a better way to follow through and implement?
So I probably earned about $3,000 – thrilled to tell my wife that – and I want to use the sequence I created as the new opening welcome sequence for people into my list, and/or start running ads and promotions to the funnel somehow. because I think I’m onto something that resonates with my audience.
So, yeah, thanks John. You kicked my ass in a good way.
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So much good stuff in what Chris writes above. Specifically:
1. A higher priced asset he can use to sell his other offers more easily in the future…
2. A proven funnel he can run more traffic to (welcome sequence or maybe even cold traffic)…
3. 67 new buyers who make for new leads for his continuity offer or coaching if he wants to make that available, possibly leading to thousands or tens of thousands of dollars more…
4. Higher overall perceived value of his own expertise and products (yes, people do judge a book by its cover as well as its price)…
5. Something nice to tell his wife…
… plus $3k for himself and about $750k for his developer. That’s not Pablo Escobar cocaine money, but getting paid $3k to also get a bunch of new leads and some new assets in your business sounds like a good deal to me.
All in all, that’s 6 benefits of running a promo, or more specifically, a price increase promo for an offer that sold pretty well once upon a time.
The Price Increase Promo Challenge is over. I have no plans to run it ever again. But if you have a list, and an offer, and if you would like my help making more money from your list and offer, hit reply, and maybe we can work something out.