Seth Godin Video:
Links
Additional Thoughts
As a quick addition, let me mention that I’m aware of some very interesting micro-transaction business models. Even though micro-transactions are all about cheap prices, this type of business model can actually be done without it becoming a race to the bottom.
As an example, let’s look at the Apple app store: most apps are sold for $0.99 and many also come with a free version. The business model works wonderfully, though… at least for Apple and for a few developers who hit a homerun with an app. For the majority of developers, it’s a struggle and they would be far better off in an environment where they could charge more for their products.
By the same merit, the whole Warrior Forum thing works splendidly well for the people who run “the machinery”: they cash in listing fees, payment processing fees etc.
Let me know your thoughts and comments!
Note that I don’t reply to all comments, but I do read them all. If I don’t reply to your comment, it most likely means that I agree with what you say and don’t have anything meaningful to add, myself. I appreciate and read all comments and your comments play an important part in what I write about, so keep them coming.
Spammy comments are always filtered or removed. No surprise there.
Jesus it’s like you were reading my mind – this is exactly the thought process I was going through earlier on. “Should I lower price X”. Lizard brain is going “no no…lowering prices means competing in the dirty with everyone else”.
He’s bang on the money though and the WF and most other aspects of IM all seem to be busy in offering more stuff at a cheaper price. After reading/watching this I know where my price points are going :-)
Shane, I did send you an eMail regarding this but I did’nt receive I reply – I understand , you must have a ton of stuff in your mailbox.
Hybrid Connect: this sounds like a buyable product – my question was – how adaptable is this to autoresponders other than those you mention in the sales letter?
I ask because I have a self hosted responder which I have used for years and which I have never had problems with. Maybe you would comment.
Hallelujah – a light bulb moment!
Just been through the two video’s above and you both say what I have been thinking and which you both describe as “the race to the bottom”.
I have also now been through my eMail boxes and unsubscribed from a ton of the crap which arrives on a daily basis (sometimes 2 or 3 times a day).
It’s going to be a very blinkered approach from here on in where I will concentrate on MY own products and not someone else’s.
Perfect Rant Shane!
If that is what you want to call it.
Lots of to-the-point truth there!
Only thing I would say is that among the plethora of WSO low-priced & $7 products there are occasional gems.
The art is to develop a strong set of criteria to evaluate the offers as well as a strong ability to recognise the sales process button pushing and become inured to it!!
Beginning now to make a point of always watching your Sunday vids!
Best,
George
Thank you Shane for your excellent rant on wso’s.
I sometimes receive 3 or more emails promoting the same wso.
After buying a couple of them and finding, as you pointed out,
nothing but fluff, I started unsubscribing from these guys lists.
I have also experienced the loss of attention to these emails.
They just don’t have any credibility any more.
I make and sell signs. Real physical products.
Over the years I have had many customers try to get me to negotiate my prices.
If I do lower my price, I see it as money going from my pocket into theirs. That is not a good feeling and helps me keep perspective.
This is exactly as Mr. Godin describes, racing to the bottom.
I have also realized that they are just testing me, to see if I will lower my price. If I won’t, they normally buy the signs any way, at my quoted price. It’s almost like a game to see who will flinch first.
At times, if they do suggest a lower price, I will come back with a price that is higher than my original quote. This freaks them out. They want lower, I want higher.
If they are trying to beat me down, I’m going to raise them up, so to speak. It’s 2 sides of the same coin.
Believing in yourself and your products are the easiest way to stop the price wars.
Thanks Shane for your correspondence.
Out of hundreds of emails I receive daily, yours rises to the top of my tree, by providing thought provoking and valuable information.
Much appreciated, Tony Medina.
That’s why I keep opening your emails Shane and read/watch the content straight away… because the content is always pure GOLD!
It has to be the dumbest thing to do as a marketer, is to condition your list to only buy at $5 or $7. I followed a great marketer for many years and didn’t hesitate buying at his $47, $97 and sometimes $497 price points. Then he converted those products to a $5 WSO… I felt ripped off and now won’t buy anything from him again at a higher price point… I also take days to open his emails!
Instead of discounting (because your product is not selling, but is great quality according to the people who have bought) add more value to the product. It needs to feel like you are getting a Ferrari for the price of a Mini…
Cheers
Ian McConnell
Western Australia
The nugget here is: micro payment business models
Spot on Shane (again!).
The WSO thing is dreadful. I’ve bought some good products but, unfortunately, these are drowned out by the crappy ‘me too’ offers that are dominating this marketplace.
If you create something of real value, charge a fee that is representative of that value.
Nice info. thanks.
The support ticket system for Hybrid Connect is not accepting ticket, and I have not gotten a reply to emails to the help desk since June 14, so as a last resort, I am posting here.
Have not gotten a reply to emails.
I reported in ticket #5927, that activating Hybrid Connect causes the 2 sliders on my website (jeffersonstatepost.com) to freeze.
I disabled all plugins and activated Hybrid Connect to determine that HC was involved.
In a response to the ticket 5927, Paul requested an Admin login, which I attempted to send by support ticket. (No success.)
I’d greatly appreciate knowing if you are able to sort this out.
Thanks, Phil
PS: I also have the WordPress “SharePress” plugin installed. Since the functions of the 2 plugins overlap somewhat, I’m wondering if they might be conflicting with one another. Just a hypothesis.
PPS: My next step will be to request a refund.