When you start selling digital products online, you have a choice. You can go with the high-end products, which have the potential to bring in higher dollar amounts, or you can choose to sell low-end products.
Let me start by saying that I get the appeal of creating higher-end products. Big ticket products bring in big income, right?
The reality is… not always.
Let’s take a deeper look at the debate between high end and low end products to see which might be best for you:
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Let’s talk about the high-end products first. I feel like so many coaches and service providers tend to gravitate towards creating the higher-end stuff, specifically courses that are $1,000 or more, because that’s what we see so many other people doing online.
But it’s not as simple as some coaches make them out to be. Here’s why:
1. Big expensive programs typically come with big expensive launches.
I’m talking a month or longer. It can be a HUGE undertaking. If you don’t have a large reach online, it can be a little overwhelming and a little challenging to sell out a high ticket offer.
And it’s not just the time it takes. These big launches usually utilize paid advertising and paid affiliates, taking away from the coach’s bottom line. (Remember I said it’s not simple? Big launches are totally a beast of their own.)
2. Some high priced products didn’t start off high priced
If you take a look around and see well-known coaches selling programs that are $1,000, $2,000 – you might think that’s where all coaches are supposed to start. But something those coaches don’t tell you is that they didn’t start out at that price.
For instance, you may have heard of Denise Duffield-Thomas and her Money Bootcamp. I actually bought that program back in 2013, and it was a $497 program. It is now a $2,000 program. So she didn’t start off trying to sell this $2,000 program when her audience and her reach was much, much smaller. She started lower, and worked her way up there.
3. It’s not always easy to sell high-end offers
You might be thinking, well if my goal is to make $5,000 and my product is $1,000, I just have to get 5 people! But let me tell you, if you don’t have a large online following or a large email list, it’s not that easy!
I’ve sold $1,000 programs and I’ve sold $10 programs, and it’s definitely a lot harder to sell the higher priced ones. It takes more time. And if you have a smaller audience, you have a smaller pool of people willing to buy.
Now let’s talk about low-end. While selling high ticket products can work, and as your audience grows, it does get easier and easier … if you are just getting started selling digital products, you’re going to want to consider selling low-end. Here’s why:
1. It helps you build your audience
If your audience isn’t that big, selling something that’s an easy “yes” will not only make you money, it will help you grow your audience (so you can start incorporating some of those higher-end programs!)
2. Lower cost products are easier to sell
Let’s say you’re posting on Instagram, the chances of some random stranger seeing your post, reaching out to you and buying your $5,000 package is pretty much slim to none.
However, if you focus more on the lower-end stuff, you’re going to have an easier time getting people to take a chance on you. How many times have you made an impulse buy online, justifying it because “hey, it’s only $20?” I do it all the time. People are much more willing to take a chance and buy something from someone they’re just getting to know if the price isn’t a 4-figure investment.
3. It gives you repeat customers
Let’s say you sell your $20, $30, $40 product. You blow your customers away and now they’re hooked. They know you know your stuff. They know you deliver value. So they sign up for a $200 product, then a $500, and then they invest in your coaching program. It all starts with a small offer that they loved and they can easily become a dedicated fan.
4. Low end products are much faster to create
When you don’t have to put together a massive course, with tons of content, you can whip out products much faster. With a shorter launch period. Which means you get to churn out even more content in a shorter amount of time. And of course, more offers means both your audience and your bank account are growing.
When it comes to selling digital products online, there are multiple options. The temptation might be to create something that’s higher end, hoping to make more income, faster. But the reality is, it doesn’t always work that way. If you don’t yet (key word: YET) have a large and dedicated following, consider starting with lower end. You can create more, sell more and really grow your audience.