Monday, January 31, 2005

6 More MUST Have Strategies To Make Big Bucks with Big Ticket Items

Here is the latest article I promised you. If you were unable to make it to my webinar this past weekend, I am sorry I missed you.  However this article should give you a good  solid background in the information we discussed.

6 More MUST Have Strategies To Make Big Bucks Selling Big Ticket Items Online Or Off!
Copyright (C) 2005 Chuck Daniel, Like Magic Marketing, LLC - All Rights Reserved.


Strategy #1: Risk Reversal

Reversing the risk is an important marketing strategy and it is especially critical to provide some form of risk reversal for Big Ticket Items.

When you are talking to your customer, they are going to have the following questions on their mind. "How can I ensure I get value? Am I going to lose money? Does this sound too good to be true? Am I going to purchase this seminar or tape set and it won't work for me or it's not going to be as valuable as I think it is?"

Risk reversal eases your customers mind and helps them focus on the benefits your product will give them as a solution to their problem.

Risk reversal can be provided to your customer in a number of different ways.

Some are fairly standard legal remedies such as "lemon" laws when you purchase a car, for example.

Most customers know that they can return items to the store they purchased them at, usually with very little hassle. Good retailers know that it isn't worth their while to create a bad return experience for their customers because they want those customers to continue shopping with them.

And customers tend to tell many more friends about a bad experience than about a good one. So creating a bad experience can really build a bad reputation quickly by word of mouth.

In the following 3 risk reversal examples, Ted Nicholas is talking about seminars; definitely a Big Ticket item. Although these examples refer to seminars you can adopt them for use with other Big Ticket products or come up with your own risk reversal strategies, using these as idea generators.

"An ironclad, money back guarantee. Virtually all of our programs come with an ironclad money back guarantee. If people are not thrilled with what they get on the first day of a seminar, for example, they can get, upon request; they can get their money back. So they basically are taking no risk. We're taking the risk in inviting them and coming and sharing information with the prospect."

"We provide bonuses very often which equal or exceed the seminar investment or if they don't equal it or exceed it, they're of extremely high value and they're free. So this helps reduce or even reverse the risk of attending a seminar or buying a Big Ticket set of tapes or videos."

"Showing how even a single seminar tip will return many, many times the seminar investment. … we have reams of actual testimonials with permission to use the name of the individual and the state or country that they reside in where they talk about what value a single tip at one of the seminars that they have either on tape or at a live seminar, what value that had on an individual's business."


Strategy #2: Co-opetition

A combination of the words competition and cooperation; co-opetition was originally coined by Ray Noorda, the founder of Novell. Authors Adam M. BrandenBurger and Barry J. Nalebuff wrote a book about it called "Co-opetition: A revolutionary mindset that combines competition and cooperation".

Many people have the mindset that in business you must crush your competitors to survive. That is certainly one way to do it but it can be very difficult if you happen to be the little guy in the competition. Instead, it is far better to cooperate with your competitors and actively seek opportunities where you can both mutually benefit from working together.

Jay Conrad Levinson defines it as the cooperation with one or more businesses, which will help you market your business while you help them market theirs. This type of cooperation is also called joint venturing.

There are many ways to joint venture. You might have a product that is similar but not exactly the same as your competitor. In other words your niche markets are slightly different.

But guess what? Many people in both of your markets might have interests that span what your products offer. So you can approach your competitor and offer to market your competitor's product to your own customers if they will market your product to their customers.

In many cases, the customers might buy both products and become customers for both you and your competitor. Again, this is a value mindset where you believe that your product has as much or more value than your competitors. Let the customers decide which they want, or both if they desire.

Another way to work with your competitors is to see if they want to jointly increase their customer list by sharing the costs of advertising for new customers that are interested not in a specific product but in a specific niche area. All the joint venture partners get the name, address, email, and phone numbers of all prospects who respond. You all split the cost of the advertising and then you all market to the new prospect.

One last thing, the fact that there are competitors in the market you are targeting or are thinking about targeting is a good thing. It means there is a viable market there. And like most markets there is usually more than enough customers to be shared or had by everyone.


Strategy #3: Auto-humanization

This is a term coined by Joel Christopher, the Master List Builder. It is really automation with humanization.

This is closely related to the strategies of Multimedia Marketing and Building Long Term Relationships.

What Joel found out during his transition from a "touchy-feely" physical therapist, as he describes his old career, to that of high tech internet marketer, was that the more you humanize your business with personal touches, the more profitable it becomes!

And it really makes sense. As you build your business you want to have customers who trust you, are loyal to you, buy more products from you and eventually buy your Big Ticket Items. And the only way you can do that is by providing them with huge value and by letting them get to know you, the human you, the real world person you. In other words, you build a long term, personal, relationship with your customers.

Of course the way that you do that, the big key, is automation with humanization. You can humanize your business in many ways. Examples include live teleseminars or webinars, live events, sending postcards, doing follow up phone calls when a customer purchases just to make sure the product arrived, personalizing email messages, etc.

And many of these tasks can be automated with the help of technology. That is the automation part of auto-humanization.

When you remember that there is a human being at the other end of the email address and you always think about them and treat them as such, they appreciate it and they respect and love you for it. And they will pay you back by being your customer for life.


Strategy #4: Testing, Testing, Testing

Testing? Isn't that something that the quality assurance department does to make sure a product is up to standards?

Well, yes it is. But it is also one of the most important strategies that you can use with your marketing as well.

For example, you can even test the waters to see where a viable market might exist for a new product. Say you already have an email list or an address list of customers. Or you could use your co-workers, family, friends, neighbors and local community organizations. What are they frustrated about or need help with?

Survey them and they'll tell you! If you can find a common problem for a large number of people, you can use that as the basis for your next product. Find the market first; then build the product, not the other way around.

Based on their answer, you can go out, do some research, figure out a Big Ticket solution and turn that into a new product!

You can even write up a sales letter or ad before building the product and see who buys it. If no one buys it or very few people buy it you can just tell them that due to lack of demand the product has been shelved and return their money.

Of course, if you have a huge number of orders you will have to be sure you can turn out the product reasonably quickly, with high quality. But what a GREAT problem to have!

Another way you can use testing is to improve your sales emails, letters, brochures and web pages. Even changing something as simple as the headline, sub headlines, location and selection of testimonials, purchase now links, font type and size, paper and background color, choice of graphics and even price can impact response and conversion rates.

Response rate is simply the percentage of people who respond to your offer. E.g. A typical direct mail response rate to prospects might be 2%. Conversion rate is just the percentage of responders who become customers.

In Big Ticket Marketing, you need to ensure that your sales emails, letters, brochures and web pages are as compelling as possible because Big Ticket Items are treated with extra skepticism due to the larger price tag. You must test everything to maximize your response and conversion rates!

Start with one version of the sales email, letter, brochure or web page you want to test. Call this one the master version. Now, all you have to do is change one element at a time. Then test whether it increases or decreases response and conversion rates.

If it increases it, then use that new sales email, letter, brochure or web page as the new master and then change another element. If any change decreases the response or conversion rate, then go back to the previous master version.

And on the internet, this testing can really be done quickly. You can host two web pages that are nearly identical except for one element. You can direct equal amounts of traffic to each page. Then compare which page was more successful. Use that page for the new master version. This is called split A/B testing and there are tools you can use to help automate this task.

And here is the best part: If you don't know if something will work, just test it!!! You should be constantly testing new ideas and new strategies. Let your customers tell you what works and what doesn't.


Strategy #5: Testimonials

You can blow your own horn about how good your product is all day long.

But, from a skeptical customer's point of view, that just isn't good enough.

Sure, your customer is going to carefully evaluate your product on the benefits that you describe to them. They want to determine if your product will be a great solution for their needs.

But, they know that you are trying to sell them your product, after all!

So, what really makes the difference, as Ted Nicholas alluded to in the strategy on Risk Reversal, was to have other people give testimonials about your product.

You see, if you have a ton of raving fans, all telling how your product helped them solve their problems, other people are really going to look at that and be impressed.

Now other customers are blowing the horn about your product! It's not just you saying that your product is great. These, objective and equally skeptical other customers are saying that your product helped them.

And especially with Big Ticket Items, because of the larger customer investment, you need to do everything you can to make sure that your future customers understand how happy existing customers have been with your product and with you.

Testimonials are the answer!


Strategy #6: The Money Is In The List

Jay Abraham says there are three main ways to increase your business:

  1. Increase the number of clients
  2. Increase the average size of the sale per client.
  3. Increase the number of times the clients return and buy again.

Big Ticket Marketing focuses on all three but with an emphasis on the last two. For example, average size per sale goes up when an existing or new customer buys a Big Ticket item. By definition, the Big Ticket item will be a larger sale.

If you have customers who value your products so much that they just buy everything you put out, that is an example of the third way of increasing your business. If you total the profit from all the products purchased by a specific customer, the revenue is a Big Ticket sale as well.

Many businesses tend to focus on trying to actively seeking out and find new customers all the time. This process is called prospecting. And, many businesses do this by cold calling the prospects. This is not very effective but we won't discuss it here.

But my point is that many businesses tend to ignore their existing customers. They just assume they already made the sale and nothing further happens unless that customer volunteers to purchase something else.

This is the opposite of the strategies we have talked about for Building Long Term Relationships and It's All About Value.

Your existing customers are the MOST likely to buy from you again and again. They are also the most likely to buy Big Ticket items because they have got to know you and to trust you. And that is why you should treat them as specially as possible.

Joel Christopher says that your list is your goldmine and that he or she who has the gold (the list) makes the rules.

What he means by this is the money is in the list! Your list is your treasure. You can lose almost everything else but if you keep your list of valued customers, you can start again and make it back.

And having a responsive list that trusts you, allows you to introduce new products easily, especially Big Ticket products! And it makes you very popular with other people who have products to sell and are looking for people to sell them to.

That is part of making the rules. You decide what products you offer to your list. You decide who you want to work with. Your valuable customers allow you to generate revenue on demand because of your relationship with your list.

So get to work growing your list!

Here's a resource to help you:

Build and Profit From Your List


Chuck Daniel
chuck@likemagicmarketing.com
Would You Like to Make BIG Bucks
With BIG Ticket Items Online?

http://www.bigtickethomestudy.com
http://www.bigticketblog.com

This article may be reprinted in its entirety in your E-zine or on your Site as long as the content is not modified, all links are left in place and you include the resource box as listed above.

If you do use this material, please send us a copy of the publication. Thanks.

Thursday, January 27, 2005

Another Webinar Announcement

My last webinar was originally called:
12 MUST Have Strategies To Make
Big Bucks with Big Ticket Items


But, the content I wanted to cover wouldn’t fit in the 1 hour time slot allotted for the webinar.  So I split the topic in two and covered “
6 MUST Have Strategies To Make
Big Bucks with Big Ticket Items
” in last weeks webinar. And I promised to finish the remaining 6 in an upcoming session.

I'd like to invite you to join me this weekend for another webinar with Joel Christopher, where I will cover the second half of my original topic.  Here is the info:

SATURDAY, January 29, 2005
10:30 AM PST / 11:30 AM MST /
12:30 PM CST / 1:30 PM EST
"
6 More MUST Have Strategies To Make
Big Bucks with Big Ticket Items
"

The webinar system is fun and very easy to use. Its just like a multimedia chat room will full access to the internet.

If you want to join me on the webinar, all you have to do is follow these instructions:

If you've already download Joel's L.I.V.V.E. webinar software, then go to your COMPUTER DESKTOP...

Then, Double Click on the "VV" icon that says: "Connect To MasterListBuilder.com"

Then Click on the top link that says: "MasterListBuilder.com Lobby"

And then Click on the webcam icon that says: "JoelChristopher Webinar"


And if you haven't downloaded the L.I.V.V.E. software then join us by following these 7 simple steps:

1. Download the free webinar/video conferencing software
here.

2. Click on "Create MasterListBuilder.com Account" and Click "Next Step" (No need for a number)

3. Fill out the form completely and accurately

4. Install it immediately and play with it.

5. 15 minutes BEFORE the scheduled webinar, double click on the "VV" icon on your computer desktop that says: "Connect To MasterListBuilder.com"

6. Click on "MasterListBuilder.com Lobby" (NOT the Broadband Lobby)

7. Then Click on the room "JoelChristopher's Webinar"
The webinar room can only fit 500 people so come and join us 10-15 minutes early.

It's first come, first serve!

Remember it's:

SATURDAY, January 29, 2005
10:30 AM PST / 11:30 AM MST /
12:30 PM CST / 1:30 PM EST
"
6 More MUST Have Strategies To Make
Big Bucks with Big Ticket Items
"

See you on Saturday!

-Chuck
P.S. There will be a special suprise offer for those attending the webinar.  So make sure you book time in your calendar to attend!

Sunday, January 23, 2005

About the Title of that 2nd Article

Originally, I said I was going to post a 2nd article called: “12 MUST Have Strategies To Make Big Bucks with Big Ticket Items”. But what I discovered, as I wrote the article, was that the content I wanted to provide was so large that I decided to split it into 2 articles:

6 MUST Have Strategies To Make Big Bucks Selling Big Ticket Items Online and Off!

and

6 More MUST Have Strategies To Make Big Bucks Selling Big Ticket Items Online and Off!

I’ll be working on the article for 6 More Strategies this coming week.  In the meantime, I hope you enjoy reading the initial 6 strategies.

Please feel free to comment on any of the articles or other posts.

-Chuck

Saturday, January 22, 2005

Here is the 2nd article I promised

6 MUST Have Strategies To Make Big Bucks
Selling Big Ticket Items Online Or Off!


By Chuck Daniel
http://www.bigtickethomestudy.com
http://www.bigticketblog.com 
Copyright (C) 2005 All Rights Reserved.


Strategy #1: Change Your Mindset

That's right, change your mindset!  It's probably the number one most important strategy when selling Big Ticket Items.  Plenty of people are uncomfortable selling items that are priced above the $500 - $1000 mark.

It's the intangibles which make Big Ticket marketing tougher to come to grips with for many business people.  They have questions like:

  • Will my customers accept a product priced this high?
  • How can I put a value on information?  
  • Who's going to buy an island for one million dollars?

It's a lot easier to value a low ticket item like an E-book at $17 or $49 or $197.  There are already books available that have prices in a similar range.

So how do you start the switch in mindset?

The best thing to do is to find a Big Ticket product that you believe in and just try marketing it to your list of customers!

That's what Joel Christopher did.  He wanted to attend a particular seminar but it cost $1000.  In those days, that was a lot of money for Joel.  But the organizer told him that if he sold 3 seats he could get in free and earn affiliate commissions on every seat sold.

Now, Joel wasn't sure whether his existing list would accept a Big Ticket Item at that price.  But he decided to go for it!  He wrote up an email and sent it out.  And, much to his surprise, he sold 2 seats in less than 2 days! 

And that was a key turning point for Joel.  His mindset was shifted.

But how did Joel get up the nerve to send out that Big Ticket email to his list?  We're going to talk about that in Strategy #2.


Strategy #2: It's All About Value

It is crucial that you value and believe in all of the products and services you sell.  And that includes all lead generation products and services, as well.

You must always provide huge value for your customers or they won't be your customers for long. 

By providing such value, you are successfully able to market to your customers.  But this is especially important when selling Big Ticket items because it relates to your mindset.

Here are a couple of quotes about marketing Big Ticket Items:

Ted Nicholas: "You need to be able to basically establish the value in your mind before you can establish the value in the mind of the prospect."

Joel Christopher: "Now deep inside, it was really about the value I was giving. When I said, I value what I'm giving and I value this thing then I can really promote it to my list."

In the first quote, Ted is just saying that you need to have a firm idea of the value of the product you are marketing before you can put a price tag on it and convince a prospect that it is
worth that price.

In the second quote, Joel is describing the process that he had to go through internally, establishing the value of the product to himself and also its benefit to his list, before promoting it to his list.


Strategy #3: Have a Marketing Plan

Jay Conrad Levinson calls the Marketing Plan, the first marketing weapon. 

Jay is the father of Guerrilla Marketing and he says: "And in guerrilla marketing, if you don't have a marketing plan, that's like entering a battle under a commander who says, 'Ready, Fire, Aim!' You're not going to win any battles if you do that."

Now, I am not talking about a 300 page document that puts your team members to sleep :-)  No, I am talking about a very simple marketing plan that helps guide every decision that you make for your business.

As Jay Conrad Levinson describes it, a guerrilla marketing plan is only 7 sentences long and can be created in under 5 minutes.

This article is too short to give a detailed description of a guerrilla marketing plan so we'll quickly highlight it and give you some resources for further reading.

Sentence 1: What is the purpose of your marketing? What specific action do you want people to take? E.g. Do you want them to visit your website or join your mailing list?

Sentence 2: How are you going to achieve that purpose? You do this by stressing your benefits and competitive advantages.

Sentence 3: Who is your target audience or audiences?  Who wants your product?

Sentence 4: What is your niche in the marketplace; what you stand for?  When people hear the name of your business, what's the first thing that enters their mind?

Sentence 5: Which marketing weapons will you use? Guerrilla marketing has over 100 to choose from.  E.g. marketing plan and marketing calendar. Check out
http://www.gmarketingcoach.com/weapons.htm
for the complete list of marketing weapons.

Sentence 6: What is your identity? Which means your company personality. And it tells the truth.  An image tells a lie; an identity tells the truth. Every business has a personality.

Sentence 7: What is your marketing budget? It should be expressed as a percentage of your projected gross sales.

And that's it, a marketing plan that is concise and focused.  Make sure you check out the following resources as well:

Bigwig Briefs: Guerrilla Marketing - The Best of Guerrilla Marketing & Marketing on a Shoestring Budget
by Jay Conrad Levinson

Note: link has been deliberately split. Paste the pieces
together before pasting into your browser.

http://www.amazon.com/exec/obidos/ASIN/
1587620677/ref=sib_rdr_dp/104-1452076-7663165

The One Page Business Plan with CD ROM by Jim Horan

This book isn't Guerrilla marketing but the planning is very similar.  It also has some easy templates you can use.

Note: link has been deliberately split. Paste the pieces
together before pasting into your browser.
http://www.amazon.com/exec/obidos/tg/detail/-
/1891315099/qid=1105402709/sr=1-1/ref=sr_1_1/104-
1452076-7663165?v=glance&s=books


Strategy #4: Have A Marketing Calendar

Jay Conrad Levinson calls the Marketing Calendar, the second marketing weapon. 

The marketing calendar does not have to be a time consuming task.  You can do the rough outline of a simple one in 5-10 minutes or you can do a really detailed year by week calendar in about 2-3 weeks.

Here's how to create a simple marketing calendar:

Create a table with 12 rows and 5 columns.  The 1st column is Month, the 2nd column is Thrust, the 3rd column is Media, the 4th column is Marketing Cost ($) and the 5th column is Grade.

For each of the 12 rows, fill in one month (e.g. Jan, Feb, Mar, etc.) in the Month Column.

Now for each row, fill in the thrust of your marketing in the Thrust column.  In other words, for each month you should have a particular thrust for your marketing.  (e.g. a special event, a special price, a new service, etc.)

Now for the Media column, fill in the media you plan to use during a particular month. (e.g. email, newspaper, radio, TV, networking, etc.)

In the Marketing Cost ($) column, you will fill in how much money it cost you to do your marketing for that month.

And finally, in the Grade column, you give a letter grade (A, B, C, D, E, F) about how well you thought your marketing did that month.  Be honest!

Now, at the end of the year you simply look back over your marketing calendar.  Compare your monthly financial statements with the marketing activities for that month and see which activities really paid off for you.

Eliminate any marketing activities that did not receive an A or B grade. Use only those A and B grade activities for planning the following year's activities. 

After the second year, repeat the above process again, except only keep marketing activities that had a grade of A. All you're left with are things that have been proven in action for your business.

Now isn't that worth the small amount of up front
effort to create the marketing calendar?


Strategy #5: Multimedia Marketing

Single media marketing is not sufficient!  You cannot reach all the prospects for your products and services through a single media anymore. 

Take email for example.

But first, a brief side note.  Your marketing email message should NEVER be SPAM; it should always be permission based email.  In other words, the people you're sending it to should have opted in to receive it.

Anyway, with the ever increasing amount of SPAM and people using SPAM filters to try to help that problem, your marketing message in email might not even be making it through to your prospective customer! 

Or your customer may be overwhelmed by the sheer number of email messages they receive and will not even get around to reading your Sales Letter, E-Course, Article, or Newsletter.

TV and Radio.  How many customers just ignore your message because they use VCR's or DVD recorders to tape only the shows they want to watch AND then they speed through the advertisements.

And TV and Radio ads are notoriously hard to track in terms of their effectiveness.  Infomercials at least use specific 800 numbers that can be changed for each marketing campaign to track how well they are pulling in sales.  But how do you gauge whether a 30 second ad spot on TV is working?

Here's what Jay Conrad Levinson, the father of Guerrilla Marketing had to say about multimedia marketing:

"Guerrillas know that the only thing that works now is marketing combinations.  If you do advertising and you do direct mail and you have a website, all three will work.  All three will help each other work. The days of single weapon marketing have been relegated to the past and we're now living in an era where only marketing
combinations work.
"

And here is what Joel Christopher, the master list builder, had to say about multimedia marketing:

"Multimedia marketing is the next principle.  See, another myth that I saw happening was that internet marketing is the end all and be all and nothing else. ... you can generate leads and do email marketing, but for High Ticket Items, the sale is done offline.  So you have to combine online marketing with offline marketing."

An excellent resource on multi-media marketing:

Mining Online Gold with an Offline Shovel
by Joel Christopher and George McKenzie

Note: link has been deliberately split. Paste the pieces
together before pasting into your browser.
http://www.amazon.com/exec/obidos/ASIN
/0972
978208/qid=1105636426/sr=2-
1/ref=pd_ka_b_2_1/104-1452076-7663165
 


Strategy #6: Build Long Term Relationships

Building relationships isn't a new marketing concept.  You must build relationships with your customers.  In order for them to buy from you, they must come to know you and trust you. Only then, will they buy from you. But once they buy, most of them will be your customers for life as long as you treat them well.

In the field of Customer Relationship Management (CRM), building relationships has taken on even more importance over the last few years.  It used to be that CRM was nothing more than a new buzzword for sales force automation (software to make the taking of orders easier for sales representatives).  There was no "C" or "R"
involved, only "M" for management of sales.

But, people in the CRM field learned that in order to maximize profit you must first maximize customer lifetime value.  And the way that you do that is by building long term relationships with customers!

This becomes particularly important in Big Ticket businesses with extremely long sales cycles.  E.g. Mainframe or super computers E.g. Jet or 747 airplanes.  You cannot just hit these prospects with a "buy, buy, buy" sales message.  You need to build a relationship with them.  Their order could be worth $500,000 to $1,000,000 or more.  They are not going to trust you with that size of an order without getting to know you much better, first!

Jay Conrad Levinson says: "... traditional marketing is all about taking.  How much can we get from each customer?  Let's go get it.  Guerrilla marketing is all about giving. Guerrillas realize that marketing's real purpose on earth is to educate people how to succeed at achieving their goals."


Copyright (C) 2005 All Rights Reserved.

Chuck Daniel
chuck@likemagicmarketing.com
Would You Like to Make BIG Bucks
With BIG Ticket Items Online?
http://www.bigtickethomestudy.com
http://www.bigticketblog.com


== Attention E-zine Editors and Site Owners ==
This article may be reprinted in its entirety in your E-zine or on your Site as long as the content is not modified, all links are left in place and you include the resource box as listed above.

If you do use this material, please send us a message so we can have a look.  Thanks.

Thursday, January 20, 2005

My Upcoming Webinar

Last time I was supposed to have a webinar with Joel Christopher I forgot to let you know in advance.

I'm not making that mistake again! :-)

I'd like to invite you to join me for my next webinar with Joel. Here is the info:

SATURDAY, January 22, 2005
10:30 AM PST / 11:30 AM MST / 12:30 PM CST / 1:30 PM EST
"12 MUST Have Strategies To Make Big Bucks with Big Ticket Items"

The webinar system is fun and very easy to use. Its just like a multimedia chat room will full access to the internet. If you want to join me on the webinar, all you have to do is follow these instructions:

If you've already download Joel's L.I.V.V.E. webinar software,
then go to your COMPUTER DESKTOP...

Then, Double Click on the "VV" icon that says:
"Connect To MasterListBuilder.com"

Then Click on the top link that says: "MasterListBuilder.com Lobby"
And then Click on the webcam icon that says: "JoelChristopher Webinar"
And if you haven't downloaded the L.I.V.V.E. software then join us by following these 7 simple steps:

1. Download the free webinar/video conferencing software here.
2. Click on "Create MasterListBuilder.com Account" and Click "Next Step"
(No need for a number)
3. Fill out the form completely and accurately
4. Install it immediately and play with it.
5. 15 minutes BEFORE the scheduled webinar, double click on the "VV" icon on your computer desktop that says: "Connect To MasterListBuilder.com"
6. Click on "MasterListBuilder.com Lobby"
(NOT the Broadband Lobby)
7. Then Click on the room "JoelChristopher's Webinar"
The webinar room can only fit 500 people so come and join us 10-15 minutes early.
It's first come, first serve!

Remember it's:

SATURDAY, January 22, 2005
10:30 AM PST / 11:30 AM MST / 12:30 PM CST / 1:30 PM EST
"12 MUST Have Strategies To Make Big Bucks with Big Ticket Items"

I hope to have a chance to talk to you on Saturday!

-Chuck

Tuesday, January 18, 2005

Here is the 1st article I promised

8 BIG Benefits To Selling Big Ticket Items
By Chuck Daniel
http://www.bigtickethomestudy.com
http://www.bigticketblog.com
Copyright (C) 2005 All Rights Reserved.

Ok, before we get down to the benefits of selling Big Ticket Items, we had better define what a Big Ticket Item is.

A Big Ticket Item is any product or service that sells for more than $500 or $1000.

Or, at least, that's my definition.

The truth is, the definition of a Big Ticket Item really depends on where you are starting.

Maybe you already sell E-Books or some other product for between $17 and $97. Or maybe you think $200 to $300 is a lot of money.

My point is, the definition of Big Ticket depends a lot on your perspective. For now, it just helps to use the simple definition I have provided.

Now, maybe you are completely happy selling E-Books or other lower priced items. There is absolutely nothing wrong with that. In fact, every really successful marketer has a range of products that they sell or use as lead generators. Robert Allen calls this multiple streams of income.

Now, let's take a close look at the BIG Benefits to selling Big Ticket Items.


Benefit #1: Sell Less Product and Make More Money!

An example will help. Let's say you sell an E-Book for $17. How many E-Books do you have to sell to make $5000?

The answer is 295! That's a lot of E-Books!

Now say instead you sold an information product that consisted of 6 CDs and instruction manual. And it sells for $297. How many copies do you have to sell to make $5000?

17 copies!

Or, to take this a bit further, say you had a complete home study system which included 20 CDs, 20 DVDs, 3 training manuals and 1 Year of Free Access to a Membership Site. How much would that be worth? How about $1499? How many of these systems do you have to sell to make $5000?

ONLY 4 copies!

Note: if you are selling as an affiliate for someone else's product then it may take you slightly longer since you are making less money per sale then if you owned the product.

But the point is that you can sell much less product and make more money!


Benefit #2: The Money is in the Backend!

If you ask anyone who has been really successful in the marketing business where the money is, they will tell you it's in the backend.

What does that really mean? It means you're not going to get rich selling E-Books or other Low Ticket Items!!! Sorry, it's the truth.

You need a strategy to build relationships with your customers that move them from being prospects to customers. Initially that means they will buy some low priced item from you. Once they come to trust you as a customer, some of them become highly valued clients when they purchase Big Ticket Items from you.

Joel Christopher calls this the Profit Pipeline model.

And Ted Nicholas says you shouldn't even launch a lead product unless you have a medium or big ticket product ready to follow it up with.


Benefit #3: Your Net Profit is Substantially Higher!

Now, I admit that net profit depends on the product you are selling. But, for Big Ticket information products, real estate or other unique and specialty items, your profit is usually much larger than on a low ticket item.

E-Books are cheap to create. Production costs are zero on a digitally downloaded E-Book. So, your sale on a $17 E-Book is almost pure profit.

But, the creation and production costs of a similar Big Ticket information product, although higher, are still pretty low. Really, just the cost of CDs, DVDs, and their cases, binders, burning the CDs or DVDS and printing out your hard copy information. Maybe $30, and that might be on the high side.

So on a $1500 product your net profit is $1470!!!


Benefit #4: Big Ticket products have Higher Perceived Value

And not just due to the price tag either. The products are generally more comprehensive or represent a substantial investment on the part of the customer, both in terms of time and money.

So even though product creation and production costs might be low, perceived value is extremely high.

And many extremely successful marketers including Joel Christopher and Ted Nicholas have found that physical products are perceived to be of even higher value than digital products. E.g. response rates were higher when selling an actual hard bound book as compared to its digital equivalent.

Also, product returns are actually less with Big Ticket items because of the customers themselves are more invested in the product. It's easier to admit you made a mistake and return a low ticket product then to admit a mistake on a big ticket item.


Benefit #5: Customers are More Likely to Actually Use and Benefit from Big Ticket Items

Benefit #5 is closely related #4. Since the investment by the customer (cash, time and emotional investment) is so much higher for a big ticket item, consequently, so is their personal level of commitment to actually use the product and benefit from it!

After all, as product creators and marketers, we are supplying these items so that people will actually use and reap the rewards from our products.


Benefit #6: Big Ticket Customers Go on your Most Valued Clients List

These are the folks who have typically bought a low ticket item from you already. Not always, but usually. The fact that they are purchasing a big ticket item from you now indicates that they are putting a lot of trust in you and your product
or service.

These people are also the most likely to buy from you again and again. And, they have the capital to do it. If you are not already doing so you should have a specific sub list of your customers who are big ticket item purchasers. Joel Christopher calls this sub list his highly valued clients list.

Existing clients are also your best source for future business.

Dan Kennedy has said that he became a millionaire by selling to many, many people. But he became a multi-millionaire selling to a much smaller, select group of his existing customers. That was Dan's big ticket sub list!

Treat the people on this sub list very specially. They should be getting your some of your most valuable information and unexpected bonuses, for FREE!

You should also give them first chance at other high ticket items you have, create or endorse.

They have shown you their trust, make sure you show them you appreciate them.

Benefit #7: Once You Develop the Big Ticket Mind Set You Can Do Anything

The leap from selling a product at $17 or $49 or even $99 to selling a product at $999, $1599, $2499, $4999 or even $1M is a giant one. It requires a shift in mindset and perspective.

But, once you make that shift, there are no limits! It is then only a matter of scale.

Plus, once you have that paradigm shift, it is also reflected in all other aspects of your life.

Confidence, imagination, belief, personal power are all increased and improved!


Benefit #8: Return on Investment

Financial planners, stock traders, business people all think about return on investment or ROI.

Return on investment is simply what you think you are going to get out of the investment based on what you put in.

Many investors and business people won't invest in equities or projects unless they think they can double or triple their investment.

The investment might be money, services or time and labor.

Face it, You're going to do one or more of the following activities. Write a one page sales letter, create a direct mail campaign, create a website, hook up a shopping cart, drive traffic to the site and basically do all the other things we do as marketers!

And that's going to happen for every product you sell!

Wouldn't you rather sell a higher value, higher priced, huge profit margin, big ticket item than a $17 E-Book?


Copyright (C) 2005 All Rights Reserved.

Chuck Daniel
chuck@likemagicmarketing.com
Would You Like to Make BIG Bucks
With BIG Ticket Items Online?
http://www.bigtickethomestudy.com
http://www.bigticketblog.com


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I apologize, I messed up!

I said I was going to announce when the webinar with Joel Christopher was and I didn't do it!

The webinar was scheduled much faster than I expected and I had even less time to prepare than I thought. Anyway, it turned out great. Or at least several people from the webinar told me so.

The actual webinar was held on Friday January 14, 2005 @ 6:00pm PST.

But that doesn't excuse the fact that I didn't let you know when the webinar was. Now, the good news is that I recorded the webinar. And I am going to have the webinar audio transcribed into a PDF file.

Now, here's what I'm going to do. The topic for the webinar was "8 BIG Benefits To Selling Big Ticket Items" and that is also the topic of the article I told you I would provide in my last post. So I am going to provide the article as my next post. And ...

... I am going to give the audio recording of the webinar, the webinar slide deck, and the transcript of the audio recording to anyone who signs up for the Big Ticket Marketing E-List.

You can join the E-List by providing your Name, Email address and Phone number in the text boxes provided in opt-in box at the upper right hand side of this Blog.

Don't worry, if you already joined or if you join before the recording, transcript and slide deck are available, you can just email me at
chuck@likemagicmarketing.com and I will get them to you.

Sorry again,

-Chuck

Wednesday, January 12, 2005

Blog Updates and Announcements

Well, I took some time off over the holidays to just relax and be with my family. I hope everyone reading this Blog was able to do the same.

Anyway, I am back at it again and I started by updating this Blog to include an opt-in area for people wanting to be on the Big Ticket Marketing E-List. It is my intent to provide you with information, advice, thoughts and commentary on creating, marketing, selling or being an affiliate for Big Ticket Items through the E-List and this Blog. So please subscribe to the E-List so you can stay current in this area. You can signup in the upper right hand corner of the Blog, just under the title block.

I also updated my personal information so you would know a little bit more about me. You can find that also on the right hand side just below the opt-in area. Who knows, perhaps we have a few things in common. If so, let me know.

Finally, I want to announce that I've got a couple of articles that I am going to post over the next couple of weeks.

The first is "8 BIG Benefits To Selling Big Ticket Items". The next is "12 MUST Have Strategies To Make Big Bucks with Big Ticket Items".

So definitely look for those.

Also, I've got a webinar coming up with Joel Christopher (The MasterListbuilder) very soon. I'll post more details about that as soon as I have them.

That's all for now.

Thanks for reading!

-Chuck