I’m reading a book by a successful direct marketer. A few nights ago ago, I came across the following provocative statement:
“Creating too many products is one of the biggest mistakes marketers make. Customers become overwhelmed too easily.”
The fix, according to this guy, is to have a few products — three is enough — and to do a thorough job selling them, by changing the hook, the segment you’re targeting, your method of selling. The guy gives an example:
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I ran two campaigns, back-to-back.
The first was a seven-day webinar that talked about a hot new niche that’s taking the Internet marketing community by storm. The day after that promo ended, I launched another promotion, similar to the one I’ll reveal in the next chapter.
In both cases, I was selling the exact same product. Same exact offer and price point. But I used two different hooks and two different strategies (webinar vs. mini group).
The first promotion generated $180k in up-front sales… and… the follow-up promotion generated over $200k.
If I had just promoted the webinar and concluded that I had pulled all the sales out of my list, I would have lost out on $200k.
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Over the past few weeks, I’ve been getting people to raise their hand if they’ve tried offering coaching to their list, and if they only heard crickets as a result.
My solution to this cricket cacophony is to repackage and reposition “coaching” into a $1k+ offer to solve a specific problem. Doing this makes both selling and delivery easier.
But here’s the crucial thing, and how this ties into the “too many products” idea above:
If you figure out a solid way to solve a problem for one segment of your audience… chances are excellent that have you just “created” a half dozen successful new offers, which you can sell in the future, with minimal tweaking of the underlying product, just by changing the hook, the segment you’re targeting, or your method of selling.
As one example, the product I have created as the solution to the “coaching crickets” problem is something I will pitch in the future to:
– People who hear crickets when they pitch “consulting”
– People who have a small list and want to monetize it quickly
– List owners (including those with big lists) who are only selling low- and mid-ticket offers, and are frustrated by it
– People who have a cold traffic funnel that is working but which they cannot scale (hello Nick)
– Freelancers who cannot get their audience to take them up on their services
– Freelancers who want income stability
– Community owners who want to monetize their group
– etc.
But… forget I said any of that. At least for now.
Because for now, I am only focused on list owners who pitched “coaching” to their list… and heard crickets as a result.
If that’s you, I have a solution, which I’m happy to share with you in the form of a 1-page overview.
If you like what you read, you’ll also have the opportunity to work with me directly in February, to implement this for yourself and your own list.
In case you’re interested in the 1-page overview, hit reply, tell me you want it, and I’ll get it to you.