High Perceived Value Backend Products
There is always a good idea when you are marketing to make sure that everything you sell has a backend product with it. This backend product can give you additional income once the frontend has been sold, but it is also advantages to you to make sure that the backend product has a high perceived value. That means that people are willing to pay more for it and this will increase your profits in the long term. How do you give your backend products this high perceived value to customers? In this article I will share with you some of the best methods for doing this.
The first way you can give your backend product a higher perceived value is to create additional video training which goes with your front end product and nicely compliments it. That means that the video training should be on the same topic, but in more depth. It may just be by creating screen caps or videos you have differentiated your front end and backend product enough that somebody feels they will buy both. Video automatically has a higher perceived value because people can watch what you are doing and they do not have to merely read about it. So always consider this as a backend product option.
Another way to give your product a high perceived value is by offering personal coaching. This means that you have to contact your buyer one to one and provide them with thoughts, feedback, help, and support. Often this does not need to be hard for you. Most people just want accountability and they are willing to pay for it. That means you can check back with them about how they are completing the tasks and if they have done everything. Because people do not want to let down their instructor they will often do tasks they would not have done. And this is why personal coaching can be so effective. It does not mean that you need to learn any great additional skills or to be an expert teacher to profit from it. So always consider personal coaching as a highly lucrative backend income stream.
Another option for you is to offer training to a group instead of to individuals. This can have a high perceived value as well. One might like groups instead of individuals because it is a better use of time. You can be teaching multiple people at once rather than a single person. Even if you are teaching a group of eight this is going to free up a lot more time than if you were going to teach people individually an hour a week. You certainly do not find that you are being paid one eighth of the price for group teaching then you would be for individual teaching, so this will push up your hourly rate. Because any form of teaching where people can ask questions and communicate with you directly has a high perceived value. This is great for you for making more money for your product.
So you need to make sure that your backend product has a high perceived value because this is likely to create a great amount of income for you. In the meantime if you do not have a product or you are not sure where to start you could wish to go and offer a form of training either as individual coaching or as part of a group. But alternatively you could create video training which is pre packaged. That way you do not need to do any work live but you have a highly lucrative backend stream with a high perceived value. Just implement one of these solutions into your business and this should increase your overall profit margins.
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