In this training, I’m going to provide you with an introduction to the actual price points, as well as what you should put in your reverse funnel.
Today, in the case of yours, you do not need to make use of these exact price points, so this’s simply going to be an example.
What you will have the ability to do in your company is usually to take this example and compare it to what you’ve in the niche market of yours. You might consider what your competitors are offering, though that is not usually the method in which I love to consider pricing, since you are positioning yourself as the only expert that’s the ultimate in the world at doing X, Y, Z. So when you are the only specialist in the planet which are able to do X, Y, Z, you can easily charge over anybody else, since you are the sole person on the planet which can do it.
It produces an amazing level of scarcity for you. You are the sole person on the planet which can do it, therefore if somebody wishes to discover what you know, they should buy it from you. By default, consequently, they have to pay the price of yours. It provides you with an amazing amount of pricing control while you position the way in which that I have been teaching.
The initial thing that we need to do is simply check out some sample price numbers. We are going to start from the reverse part of the funnel, so the top part of the funnel and we will work down.
You are likely to begin with the supreme package, it is gon na be priced between $5k, $10k, $8k, $12k. Several individuals have $25k, $50k ultimate packages. It is an ultimate package. And it is able to contain ultimate level of access with you. It is able to have ten, fifteen, twenty hours of 1-on-1 access. It might have some live time in the town of yours. It might have a component of small group of mastermind coaching. It might contain an amazing level of instruction. It can contain unlimited access to each of the trainings you produce in a season. It might have a broad variety of items that are various in it.
Today, the allure to the ultimate package deal for you is that frankly hardly anybody is going to purchase that ultimate package. If a person does, it is delivered by you. It is a great day. But in case they do not, what happens is when a new package is viewed by them down, for instance a $2k complete training program which has the exact same training as the supreme package, but does not come with unlimited access to you. Or perhaps 1-on-1 access to you or perhaps whatever would be in the best package of yours. That is the sole difference.
So they are getting an $8k discount, to obtain the very same info. And so the info is valued at $10k, and it is legitimately valued at $10k, since it is for sale at that price tag.
You are marking it up $1500, $2000 perhaps with a payment schedule. So you’ve a payment plan, $2k, with a payment plan of seven payments $277 or perhaps seven payments of $297 whatever works out.
When you are working with a reverse funnel, and you start at a higher ticket item, and you are working down, you create an amazing amount of power for that $2k package since it is being compared to a $10k package. If as an alternative you are working with a regular funnel, in which you start out with say, a hundred dolars product, then $1k product, after which a $2k product, your client needs to justify that that $2k package may be worth twenty times the hundred dolars package. How can we do that? That is so hard to do.
You probably packed a lot of info into the hundred dolars package to prove you are great so that they will buy more from you down the road. And so essentially you wind up shooting yourself in the foot since you have done such a phenomenal job of over delivering on the hundred dolars package, you’ve to over deliver by a factor of twenty times for your client to think that the $2k package warrants $2k. Because they feel like they ought to have the ability to buy twenty times as info that is much as they purchased for hundred dolars initially.
When we reverse the funnel, and they do not have that hundred dolars comparison, they’ve a $10k comparison, that same $2k package feels like, sounds like, a bargain.
High Ticket Trainings are About Results Remember what food we place into a $2k complete training program? What you are able to put into it’s the training component of the higher ticket package of yours. Sometimes I am asked, very well, exactly how do we price, what goes into the higher ticket package that way? The reality of the issue is the fact that at these price levels, it is not about the content that goes in, it is about the results that a person will get. You see, if somebody invests hundred dolars, they will be happy just to learn something. But at $2k, results are wanted by them. And frankly it does not make any difference if there is three hours of training or perhaps 3k hours of instruction. If a person does not get results, it was not worth $2k.
In case they do get results, it may be an hour’s worth of training, and it is worth $2k. It is about the outcomes. Once again, at higher prices, it is all about the outcomes.
Start by identifying the results that the customer of yours will need get. In the niche of yours you must have a sense for what sort of results that a person wants to get. You are able to ask yourself, what sort of results would you would like to get in the niche of yours in case you have been a client for $2k? What kind of results would you would like to get?
List those results out. After you have listed those results out, you just go to the drawing table and you say, okay, what content do I have to produce and so someone is able to get these results? Perhaps you have to create ten hours of training, with a print homework assignment for each hour, so that in case the homework assignment is finished by them, they will obtain the results.
That is the largest drawback with training programs instead of a coaching program is that the majority of folks tune in and never ever DO anything. Effectively, in case a 1 page PDF homework assignment is added by you, that gives someone direct instructions, and in case they do not do those instructions, then it is on them. If the instructions are done by them, they will obtain the results. If the package of yours that way is created by you, you are able to actually create a $2k package that only has eight, ten, twelve hours’ worth of education in it, but it is designed to get results.
Then what do we do? We’ve an ultimate package, $10k ultimate package. We’ve a $2k complete training program. Next we want a midrange home study program. This may be $800, $1k, $1.2k. What is the objective in this? The purpose in this system is usually to have a system which teaches almost almost as the $2k program, but it is priced much less, therefore if someone cannot afford the larger package, they are able to take the $1k package. And perhaps with this you are ambitious about payments, so it has $1k with ten payments of hundred dolars. You make it a thing that rather than advertising a hundred dolars package, and attempting to promote a new hundred dolars package each and every month to the same individual. Although they do not need to make a brand new choice every month, sell a $1k package with ten monthly payments of hundred dolars cost that client similar price each month. The decision is made for them. They are on a payment plan of ten payments of hundred dolars.
What we also really want is some amount of coaching. This could range between hundred dolars to $500 a month for coaching or perhaps mastermind access.
The coaching program could be for monthly access. A couple hours each month in a tiny group environment, and also a couple hours’ worth of instruction.
What should the training be? It must be oriented to get someone results, so the question is asked by you, what sort of results would someone want to get in my monthly coaching program?
You want then to get:
• X result 1st month
• Y result the 2nd month
• Z result the 3rd month
• And so forth You just create a training that tells them what to do and the way to do it to obtain that result that month. That is it! Simply develop a training for every month, and yes it might be three trainings per month, whatever it’s, but create training each month that if someone does the work, they will get the outcome which they need for that month.
The huge difference between a coaching program, and complete training plan will be the complete training program is a slam dunk. Everything is gotten by them instantly, and it is the responsibility of theirs to go through complete everything and the material.
With month coaching program, instead, you are going to meter it out to them. You say “this will be your month one result, your month two result, your month three result.” And it generally works fairly well for folks because when there is a brain dump, a great deal of times folks pay attention to the 1st hour of training, go oh wow, that is material that is good. Never ever implement it, and since they do not implement it they do not go to another item.
With monthly coaching, they are associated with a group coaching call. You listen to them on the call and you ask them: “John, Mary, have you completed the training for this month? Oh, you have not? Why not? Oh, you have been busy. John is known by you, it is crucial you complete the training in case you are likely to get the end result that you want.” John feels bad, John goes and does the training, John gets the results that he wants. He stays in the coaching. He stays in the coaching program.
That is the largest difference between coaching along with a downloadable training program.
Breaking Out Your Lower Ticket Products
Suppose you’ve a coaching program at $300, $400, or perhaps $500 each month. What if we’ve a number of clients who cannot pay for or perhaps are not prepared to invest $300, $400, or perhaps $500? We create a mini coaching program at hundred dolars a month, which does not contain so much info, does not assure similar amount of results, but it is something which they are able to afford. They may start out with that, and perhaps at some point in the future they upgrade to the larger program.
You see in many of these things which we are doing, we are starting with the greatest price, and we are always comparing another item down with the following higher price. When somebody makes that $2k purchase they are comparing it with the $10k. When they make the $1k purchase, they are comparing it against $2k. $300 / month, they comparing it against $2k or perhaps $10k. $100/month coaching program they are able to compare that against $300/month coaching program. It is all about comparing with something larger instead of building on something lower.
The next question may be; just how do you brainstorm your entire reverse funnel?
This’s exactly where you create a ten x ten matrix. Today, it has among the easiest exercises you will actually do. If perhaps you have been working with me for some time, you have most likely already done it. Do it again.
After you have done the ten x ten matrix, you will have excellent clarity on every item that you will actually create, or perhaps actually need to create at this time in your product funnel. You will have excellent clarity. You are able to actually wear a ten x ten matrix to create the best package of yours, the complete training program of yours, your home study course, along with any of your coaching programs.
Without digging into much more detail, just do the ten x ten matrix, and you’ll be astonished at the clarity that you will receive.
How to Create Your Reverse Funnel Fast The last point I would like to go type over is how you can make all this happen fast. Among the elements that I have learned is the fact that in case your head was put by you down, you are able to get so much done in thirty days as you are able to a complete season. Actually, numerous times you are able to do more.
Here is why: since you are excited today. Your client is excited today. Once again, you are excited today. We get a lot more done when we are excited. Let us face it, in thirty days, you most likely will not be as excited as you’re at the moment. Right now you are pumped up about doing this, you are pumped up about creating this. You’ve much more power than you will actually have today. You’ve much more power than you will actually have for building out this funnel today, today. In case you wait until tomorrow to start, the energy level of yours is going to be slightly lower. And after thirty days, it will be a great deal lower.
Rather than thinking about this as being one thing you are likely to do more than twelve months, just do it all the 1st month. The reality of the matter is, in case you work on a funnel this way, with a $2k complete training program which has fifteen hours of education in it, a home study course with ten hours, that is twenty five hours of training, the coaching plan is produced on the fly, meaning no training created ahead of time. And also the supreme package is no training created ahead of time. Therefore actually, as a way for you to launch this entire funnel you only need twenty five hours’ worth of instruction.
When you do your ten x ten matrix, you will find out how easy it is going to be to record twenty five hours of instruction. There is thirty days in the month. Which means in case you simply take one day, one hour one day for twenty five days, you are able to create twenty five hours’ worth of instruction. Just an hour one day.
The reality of the matter is; you have most likely reserved four to six hours one day for working on the company of yours. The most significant thing you are able to do in your small business is develop the item the first month. in case all you will do is take the very 1st hour of the day, and record one hour of training: at the end of twenty five days if you have done little else, you will have a product funnel like what we have just described.
Exactly how will that feel?
Allow me to say this: it is going to be less difficult to create twenty five hours of education in the 1st thirty days than it’ll be to create twenty five hours of training the last eleven months. Because you are enthusiastic now. So get started now.
You are going to do the ten x ten matrix, then get going. Get started immediately. Because the quicker you launch this, the faster you are able to introduce it with the world, and the quick you will have the ability to do two things. #1, start getting the clients of yours the results that you desire. #2 start making the cash that you wish.