That headline is a real attention-getter isn't it? However, just so I don't mislead you into reading any further, this article has absolutely nothing to do with the size of a certain part of a man's anatomy.
The headline is referring to the size of your product transactions.
Okay, now that we've gotten that out of the way, allow me to throw some numbers at you.
Suppose your financial goal is to make $100,00 a year. You will have an extremely difficult time achieving that goal selling a $29 product. I'm not saying it's impossible, but it will be extremely difficult.
To achieve your goal, several things would have to occur:
A. Your product has to be extremely unique.
B. You have to generate a ton of cheap traffic.
C. There needs to be a strong demand for what you're selling.
D. You have to be a little bit lucky.
And even if the stars are aligned in your favor and all of those things occur, you are still going to have a difficult time. Why? Because even if you're selling digital products like e-books, with extremely high profit margins, you're going to have to sell a ton of e-books to hit your $100,000 goal.
So how many e-books would you have to sell to reach your financial goal? Are you ready for this? You would have to sell an astounding 3,448 e-books. That's an average of 287 e-books every single month.
That's a pretty tall order, indeed, even for the most accomplished Internet marketers.
However, there's a much easier way to achieve your financial goal.
If you create and sell a product or service for $1,000, it will only take 100 sales to reach your goal. That's only about 8 sales per month. And here's the best part of that equation. It really isn't anymore difficult to create and sell a $1,000 product or service than it is to create and sell a $29 product or service.
How do I know? Because I'm currently doing it, and so can you.
Here's something else to consider: Who do you think will be a better long-term customer? The customer who spends $1,000, or the customer who spends $29?
Well, speaking from experience, I can tell you, the high-ticket customer - the customer spending the most money is the customer I'd prefer to have. Why? Four reasons:
1. You'll have fewer customers to deal with - thus fewer headaches.
2. The quality of each customer will be better.
3. You'll enjoy much higher profit margins.
4. You won't have to work nearly as hard, to realize your financial goals.
There's also a psychological advantage to selling a higher-priced product or service. Generally speaking, consumers relate a higher price to higher quality, and that's a fact. That's another reason why you should consider selling big-ticket items.
But whatever you do, NEVER, EVER underestimate the value of your product or service.
Just make sure if you're selling big ticket items that you over-deliver. Always give customers their money's worth and then some.
The key to successfully selling higher-priced products and services is to place an emphasis on the value of the product or service - and not the price. Of course, you should ALWAYS do this regardless of the price of the item - but it's even more important to do so with big-ticket items. With big-ticket items, you have to focus even more on solving the customers problems, and taking care of their needs. You have to focus even more on benefits, benefits, benefits. However, I can assure you, if you market your product or service correctly, price will almost never be an issue.
So go ahead, get started creating a higher-priced product or service. You'll be glad you did.
Dale King is the owner of GuruKnowledge.org - The Ultimate Marketing Resource!
If you're tired of all the money-making hype, lies and scams. . . read this!