044: Offer vs. Product: The Easiest and Fastest Way to Make Money Online with Your Membership Sites and Websites, Plus: The Power of the Magic Wand

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The Difference Between an Offer and a Product

The Product: This is a solution to a problem. Also called an "information product"
The Offer: Is the whole package grouped/stacked in a way that's really "sexy"

Let's Break Down Information Products

Here's a little exercise for you:

Go to ClickBank.com. At the top there is a tab that says "Marketplace." Click on the magnifying glass. It shows top offers on this site. These are real things that people are looking for-i.e., infertility cures, how to play piano, etc. Since people are looking for them, you know now that these are subjects that people are willing to pay for if you provide an "information product" that will help them fix it.

An Information Product can be an E-book, a video, or a PDF file. It just needs to be digital.

An Information Product is a step-by-step repeatable solution to a problem many people have.

Let's Break Down Offers

An offer is how you "package" the Information Product.

Most solutions involve combining 2-3 things, if not more, so those become your "offers."

This is the "extra stuff" that people will find exciting and desirable.

For example, if your Information Product is an E-Book on "How to Play Piano", your "extras" could be that you're going to teach them how to read sheet music or you're going to teach them how to play the most popular 5-10 songs right off the bat. You could include a monthly video meetup (via Skype or Google Hangout) to talk about what they're learning.

Now, they're not getting "just a book." Anyone can go buy a book and they probably already have and didn't find the answers they were seeking. You are here to take it to the next level and give to them what other's didn't.

What Do You Need To Sell Effective Offers?
Good Copy!

Here are Robert's "Geeky Copywriting Terms"...

Product-see above.

Features-what it is. In this example, it is an "extra" on how to read sheet music.

Benefits-what you can do with it once you learn it. Once you learn how to read sheet music, you can literally read limitless songs. The benefit is WHAT YOU CAN DO WITH IT. What people are REALLY looking for is what THEY can get out of your training.

The Hook-what the offer hinges on. This is where you boil down your offer to the coolest thing you have included and inform about it in a short, concise sentence. This is what most of your marketing and your follow up emails and your sales copy is going to hinge on. Most people are going to be sold on the one thing because it's the coolest thing you have going on.

Let's put ourselves in the mind of your prospect . Someone just wants to play the piano. They want the shortcut. Your "Hook" would be: PLAY GUITAR TODAY.

That's an easy way to find a hook-take something that people expect to take months or years to learn and show them how to do it in a REALLY short time.

On his IncomeMachine.com, he teaches the 8 things you need in under 3 days. Shows people how to stop spinning your wheels and get something completed.

The formula is: How to get something big in value for little in money in a short amount of time without a lot of unnecessary stuff and fluff.

The Magic Wand-what would you add into this package if you could wave a magic wand, if anything was possible? It doesn't have to be practical. Think big and open up that creativity.

A Short Little Break for Some Quick Thoughts from Robert

Dunning-Kruger Effect: intelligent people tend to underestimate themselves while idiots tend to be overly confident and very often loud. That's okay. Just rest in the knowledge that if you're quiet but very capable that's okay too.

Facebook: Everybody's Facebook persona is better than real-life. When you see someone on there who's bragging every day, just know that they're more than likely overcompensating.

Thank You: Just say "Thank You" when you receive a compliment. It's that simple.

And, now…back to the show!

Let's Talk About Consistent Passive Income

This is your goal in Online Marketing. You want to get to a point where people are continuing to buy from you but you are not working harder than ever to keep up. The goal is to work less and continue having income and grow and excel.

People make a lot of mistakes in this area. Here's where they fall down:

1. People think that you can just create a membership site at $5 or $10 a month. They believe they will get 50k customers at a tiny monthly cost who will never remember to cancel it. That's not a way to make money. The way to find real money is to find solutions for people, price it reasonably, have happy buyers on your buyers list and continue to sell to them.
2. People just load up their site with interviews, articles and tidbits, etc. That's a lot more work for you and it has no substance and more fluff for them. Again, the way to find real money is to find solutions for people, price it reasonably, have happy buyers on your buyers list and continue to sell to them.
3. People want to give a "bulk discount" or a short "free trial" with a payment later on. That's just gimmick-y. You only want to price low (and it needs to be a high value product) if you're trying to build a list to sell higher-priced products later.
4. People use "geeky" research tools. Doing all this research on your competitor's blog posts and ads and pricing is not productive. You don't want to look to your competitors just for their pricing. To make this productive, you need to be concerned with what their hook is and come up with something better. The core of your marketing should be fixing a problem your customer has in a unique and fresh way.
5. People load up their site up with 20 bonuses, 1000 hours of video, etc. No one cares how many hours or years you worked at something. What they care about is "is this solution going to fix my problem?"
6. People get too close to their offers and too in love with their own stuff. They are so worried about having stuff and more stuff, that they end up just churning out crap. Again, think of a problem you're solving, create a product to solve that problem, throw in some offers that mean something and that you can keep active on a consistent basis for people to continue to buy packaged just as it is.

To see the way Robert markets, go to his sites BackupCreator.com and MembershipCube.com.

Okay, I've had enough problems! Let's Talk SOLUTIONS!!

What Makes Good Offers... What You Need to Know:

1. Not all websites can be recurring membership sites. For ex: "Dollar Shave Club." You're not a startup. You're here to start making money, not invest millions.
2. You need to solve a real problem 1-30 days. This is why Robert likes FIXED TERM membership sites. It's easier to make the course and sell it over and over again. The average attrition rate for membership sites is 3 months. If you charge someone $10/month and they only stay for 3 months then you've only made $90 and you constantly have to come up with new content to hopefully even keep them on your site. INSTEAD, solve their problem in a shorter amount of time, package it that way, that's what's on your sales and membership page(s) and you can keep selling that same product over and over again for $150. It's easier to sell once than to keep people engaged indefinitely.
3. Sell what you sell. Sell what you sell at the price you always sell it at and make it really easy for the customer to buy it. No one wants to wait 2 hours on a video for a "buy button" at the end and no one wants to pay $100 today and see it discounted to $50 the next day. Both of these tactics will just annoy potential customers.
4. Stomach buying from your competitors. That's right, buy your competitor's product. See what they're leaving out and how you can maybe do something better than them. If they're champions, then figure out how you can emulate them.
5. Eat your own dog food. Use the products you sell. Make it clear on your site to your potential customers that you use them.
6. The Magic Wand (yeah, it's that important we said it twice!) Do something fantastic. If you're Information Product is teaching them how to have their own membership site, do the initial set-up for them and your information product is how they can "run it."

How Do You Present an Offer?

First is The Core Offer. Tell them how many modules they're getting (the ideal number is 4). Every 60 to 90 minutes they get to the next milestone.

Tell them about the bonuses (which are also digital, like PDF checklists). Then, here is the physical bonuses (it could be anything from a DVD to a handheld video recorder, depending on the product you're starting with and the cost).

The FOUR Questions that will determine what you include in your total offer package:

• What do people need to fill in the gaps? Could you send an iPod or camera to record video? Can you hook them up with an adwords coupon to help get them started?
• What new problems do they have now that they solved the first problem? For example, they set up the membership site, now they need content. So, now you have a training on how to record and publish PowerPoint content using a video player.
• Is there anything that can be a shortcut for them? An external service, a "Done-for-You" or even a simple calculator
  For example, in DropshipCEO.com, Robert offers a built in software tool that generates an email to all the customers requesting them to leave an Amazon review.

Is there something huge and cool that you could put in the offer that makes them say "Gotta Have It." For example, In Robert's SpeedCopy.com, he includes his huge swipe file.

The "Ultimate Offer Master List"

You need to go "Deeper Focus." Really hone into those things your customer desires.

• Template or Checklist or a Swipe File: For example, a Checklist with How to Play Guitar would ask, "what kind of guitar do you have/plan to buy? Do you plan to play acoustic or electric? Did you buy extra strings?, etc. etc. You want to group these in 10-question sections by break-down of the subject. One guy who does real estate includes a swipe file of all of his successful real estate ads
• Software (can be Web-Based or External): For example, WPNotepad.com lets customers track their own progress through their program on your membership site.
  • Or, you could offer a coupon for an external service, like a coupon for Camtasia Studio software.
  • Or, it could be a bundled service. Customers who purchase the program at WebinarCrusher.com, get automatic account with "GoToWebinar."
• "Done- for- You": Just like it sounds... do something for them. If you're teaching them the Amazon FBA program (Dropshipceo.com), offer to make their first call to a supplier WITH THEM.

Go for the Low-Hanging Fruit (stuff that's pretty easy to do)

• Mixed modalities: Make audio and/or video for things that are also written. Or, if your Info Product is already in video, provide them with an accompanying manual (use Lulu.com for this)
• Resale Rights: This is a right to resell this and that part of your course. Don't sell the entire course. But, you can give sell them re-sale rights on maybe 3 of the videos in the program.
• Personal coaching: Statistically, only about 5 -15 % of your customers will actually talk to you. Use TimeTrade.com to put up a special link in your site where they can schedule a time to talk to you. Or, give them access to text you with questions (use a Google Voice number for this).
  Extra content: interviews with experts. Extra resale rights you bought and re-packaged from a site like Master-Resale-Rights.com. (just don't tell them you did that)

"Go Large" with Enlargement

• Extra Live Webinars: like a monthly recurring webinar where your customers can have a Q & A session.
• Physical items like DVD's: (use Kunaki.com) or cameras, etc as discussed above
• Offer them "community": Facebook Groups or Forums (the tricky part about forums is either a ghost town or a mess that you have to moderate).
• Certification Directory: Dr. Charles runs membership sites for different surgery procedures. As part of other doctors paying him monthly for access to the instructional videos, they're part of a directory. Then, when Dr. Charles advertises, and someone seeks him out, they will find a physician near them trained in his methods.
• Live event: "I'm going to teach you how to do this at this time and this place" on't offer this without an actual date or hotel booked. Or, you can rent out a smaller space, like a loft (check out AirBNB.com).
• "Bundle It": Buy a program from this site and get access to an additional site.

10 Built-In Benefits that Should Come with Every Offer

1. Proof and results
2. Customer support
3. Uniqueness
4. Up to date
5. Price
6. Guarantee refund
7. 24-7 access
8. Lifetime upgrades
9. Access to course forever
10. Community (means what you want it to mean as much or as little as you want)

Robert's Closing Thought: When someone google searches your name what comes up? Make sure it's what you want them to see!

Podcast: Play in new window | Download (Duration: 1:13:05 — 66.9MB) | Embed

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Filed in: Archive 1: 2012-2016 • Podcast • Product Creation