The Best Way to Get Someone to Give you $3000, is to Get Them to give you $300 First !
This marketing secret is oriented toward the fact that it’s very difficult to ask a new customer for $3,000 – or in some cases, even $300 – right off the bat. The way to build your relationship and trust with someone is to sell them a low-cost offer on the front-end, with your very first sales. You do that by selling something for $30, or $40 or $50.
As long as it’s a low-entry price, this will work well – especially if you under-promise and over-deliver. The reason you do that is because you don’t really care about the profits on the front-end. You’re not going to get rich with your front-end sales profits, and anyone who believes otherwise is doomed to failure. Ultimately, the purpose of that front-end sale is to build a strong relationship that will lead to lots more sales. Your customers really have to take a leap that first time, even when there’s a very low-end product involved. When they get that product and it’s more than what they expected – and they believe it’s worth ten times what they paid for it – you’ve started that relationship in the strongest possible way, you’ve locked it in, and now they’re ready to go with you to the next step and purchase that $300 product, or that $3,000 product.
Here’s an example of this principal in action. If you watch infomercials (and as a student of marketing, you definitely should), you’ll see that almost all the products advertised are very low-end items. For example, there’s one marketer I’ve seen who sells a product on TV for about $40. When asked how much money he was making selling that product, he said, “I don’t make any money on it. In fact, I lose millions of dollars every single month selling that product. The infomercial alone costs hundreds of thousands of dollars to create.” But, he said, “I don’t sell that product to make money. I sell that product to get the people in, to qualify them, to build that relationship, and then I have my people on the telephone sell them a $2,000 product, then a $4,000 product, and then a $7,000 product! That way, I don’t have a problem losing millions of dollars on the front-end because I’m building up my customer base, I’m building those relationships, and I’m making $10 million to $30 million on the back-end.”
That idea of getting the people in, building the relationship with a low-cost front-end product, and then making your big profits on the back-end with higher-end products is a perfect strategy. “First you must win their trust, and then you win their money.” The infomercial example is a powerful way of illustrating that. You may not know this, but many online and offline marketers lose money on the front-end. All of their profits are made on the back-end. A lot of marketers don’t understand this at the beginning. A person I know is a good example. When he was starting out, he once saw a full-page ad in a magazine that sold a $10 book. He said to himself, “I can write better ad copy than that! I’ll put out my own ad.” What he didn’t know was that money wasn’t being made at the front-end with that $10 book.
But that’s how you have to start out in building that buyer-seller relationship. Look at it in terms of a romantic situation. When you invite someone to dinner, what you’re really doing is hoping to form a relationship, so you might eventually invite them to your house. You can’t say, right away, “Why don’t you come to my house?” You might get a few takers, but not many!
