Hi,

This is my problem : I want to launch a product that I have just created. I have written the sales letter. But I don’t know how to price it. The product is fairly unique so there are no good pricing benchmarks around.

I need to get an idea of what the perceived value of the product is, based on the sales letter. So I have linked a pricing survey to a modified version of the sales letter. And I would be most grateful for your input. The URL is

http://www.small-business-planning.c...ard_survey.htm

I would also appreciate feedback on the way the sales letter has been written. How could the perceived value be increased at the same time as realistic expectations are created?

Cheers,

Mark Munday

Mark,

I wasn't really inclined to read much further after this paragraph:

Your product could probably help me. But, as I have outlined in another thread, this type of approach does not demonstrate credibility to me. The copy does not speak directly to my pain, and phrases such as "amazing set of tools" and the hypey pitch just have my barriers up straightaway. My mind is saying "oh no, not another overpriced, shonky internet info product that only half works".

I skimmed a bit further and saw some diagrams and things that made me think this might be a genuine and intelligent product. But, then I saw the list of bonuses. Firstly - there are so many, it's overwhelming. When would I find time to read the books that come with the strategy planner, let alone all the other stuff? Secondly, I know at least 2 of those bonuses are freely available on the internet e.g. Michel's 10 Commandments of Power Positioning - it's a viral e-book which is what got me to copy-doctor and this forum. To my mind, these sorts of bonuses damage the credibility of your product.

However, I am making 2 assumptions here. My first is that you want to attract genuine business people and not just dreamers who have more money than sense, and the second is that your product is a serious business tool like the other Business Planning tools I've run across.

A lot of the software sold from sites with a similar style to your own are utter rubbish. They do one thing, and one thing only, and quite often they don't even do it that well. If your product is not like this, and is in the league of proper business tools then you shouldn't have to bargain basement it like this with all these blasted bonuses.

These are my views and experience as a potential customer of yours, not as a copywriter. My overall feeling is that the product is cheapened, and you don't demonstrate credibility by using this approach.

But it may well be that my opinion is not relevant. Serious business people need a more serious approach; hobbyists (idiots?) might quite like it.

Who is your target market?

Jane

By the way, Business Planning software in the UK goes for about £100. Not sure if that helps as a comparison, but it's the nearest thing I can think of to strategy creation. It's presented differently though.

By the way, I find the long sales letter way of selling software to be quite distracting and cluttered. Oh, and the most seductive way of getting me to buy software is to give me a 30 day trial (I'm assuming that the guts of the product is the software)?

Hi Janeology,

Thanks for your feedback. Your comments highlight the problem I have in framing up the product in a way that makes sense to prospects. This is because the product is very different to any of the planning tools and systems available on the internet.

As a business coach, I have, over a number of years developed a portfolio of tools that I use to move clients through the process of getting clarity on what they are trying to achieve, appreciating the significance of current issues in the business, understanding their business dynamics, developing an outcome focused strategy, and putting it ito action.

Essentially, I have taken these tools and put them into an Excel workbook. And I have written up the process in a PDF ebook. Having access to supporting knowledge resources is very important, hence inclusion of bonus ebooks that relate to the subject matter.

So it is not a software based system at all. Your feedback in this regard is very useful. I obviously need to emphasise the process aspect more.

The guts of the product is the process that it guides the user through. The target market is small and microenterprise. All those people who start businesses and don't get the results they hoped for. Ones who justify the expense of using a business coach and want a DIY solution.

Cheers,

Mark

Personally, I'd like to see something within the first couple of paragraphs that gives me an example of how your software is going to help me.

I'm reading some things that make me immediately think of more questions, like this:

How are you going to do that? How do you know what my business is or where I want to go with it?

Show me some samples of business plans you've written for others. Get their testimonials if you can. Nothing sells me more than a well-written testimonial.

And...30 times my money's worth? An alarm immediately went off when I read that. Three times, I could understand.. but 30? Sounds a bit too hyped up IMHO.

And.. if it's at all possible..I would really steer clear of using *too much* from that salesletter template (I have it too, and immediately recognized what I was reading from) - if you have a good product - and it seems like you do - you won't need a salesletter template to write about it - you can write about it firsthand because you've poured your own design and effort into it. Use the template as a guide, but not as the entire foundation of your letter.

I sincerely hope my input has helped you. Best of luck with your product

Testimonials and previews are helpful as well.

"Before and after" stories with a test group of folks you beta test it with would help build credibility, and would provide specifics you could use.

Your model needs examples. A quick case study walkthrough with example metrics is essential, preferably a couple of different examples, for likely niche markets.

"See how (your product) helped boost this ebay power sellers' revenue by 21% in just 4 months" ...

"Here's a step by step case study showing 11 unique ways (your product) helped drive up my xyzz.com domain's revenue by 22% in just 6 months!"

etc..


Agree w/other post re all the bonus ebooks detract vs add to "why I would want to buy your business model" product... eg bonuses need to be unique and targeted, and should 'stack'.. not generic giveaways..



Ken

Mark,

If this is a serious tool for serious business people then it deserves a more classy presentation than a cookie-cutter sales page.

The problem with using a cookie-cutter sales page is that you haven't learnt the skills that generate such pages. Therefore the end result is always a bit "off", because the writer doesn't really understand what they are doing.

Let me ask you this - would you do your own year-end accounts with some software you found on the internet? Would you risk the NZ tax office coming after you and investigating you because you had submitted improper or incomplete accounts?

Let me assume you said no. In which case, why risk your marketing in the same way? Why not invest in a proper professional for that, the same way as you would an accountant? Or would you prefer to save a coupla thou now, but see your product cheapened and not attain the price it's capable of?

Personally, I don't want to be told the process and given some spreadsheets. I would prefer fully fledged software that asks me a bunch of questions, gives me some space to do calculations, and then spews out a strategy plan. Such software already exists. You're asking me to do too much work by giving me all these e-books and expecting me to figure it out myself. Whilst I personally would welcome a "solution" that helps me figure out my strategy, I don't particularly want to have to read yet << more >> and do it myself, when I've paid you to figure it out for me.

Unless it's only $20 or $30, in which case, fair enough - go with the cheesey sales page and try to sell to more people.

I suspect, however, that most people are not really interested in strategy. I know they aren't in my market - and that is independent consultants, so you might have to aim higher, in which case, again, it needs a better presentation.

Please excuse me being blunt and critical, but I really think the internet now needs an alternative to those types of sales pages. They're so unoriginal!

Hi Mark,

I think your message misses the market where my gut tells me this product belongs.

I would test the sort of idea Carlton uses of bundling your product with tapes/CD's and additional services on a tiered price structure which you can view here: http://www.marketingrebel.com/.

The bonuses become a mute point. Notice, if you will, Carlton's pricing structure is designed to drive people to the middle level of $589.00.

The general price arena I would test with your product is the $197 for the low tier, $297 for the mid-level and $600ish for the top tier.

Accurate or not, I detect a Robert Middleton influence in your material. The purpose of his landing page is to get the visitor to download the workbook. www.actionplan.com. His sale is easier, his price point is lower than where I think yours belongs. He doesn't need big guns to give you the freebie. It's a softer sale, more process oriented as opposed to event oriented. Not a bad strategy.

Who wants your product and how do you know they want it?

The people you are collecting data from may or may not be your market - are you validating your data? How?

My questions are pointed because I think you're on to something that could be exploited in such a way that it would become an integral part of your overall marketing plan. One facet among many, if you will.

If you bundle with coaching time, then your buyers of the package would get a trial of your service and you would get paid. Presumably, ongoing clients would grow from this seed. That's just a small taste of what I see in this.

If you go with the higher price points, I suggest you take a look at: http://www.webcredibility.org/ and a quick reference at: http://www.webcredibility.org/guidelines/index.html. I'm not suggesting that your site isn't credible, just providing some resources for you to ponder if you wish. Occasionally, I run across a sale that I think might be enhanced by unusually high levels of credibility and this is one of those occasions.

[Edit] Just to be clear, in this particular instance I'm bringing up credibility becasue it would help you establish and extend your back end.

In other words, the ebook represents the top of the marketing funnel to me. What I'm suggesting is more complex than a single page might handle only because I see you extending this product into seminars, a product line and so on. Otherwise I would say go with what works and that's the sales letter format.[/Edit]

Your project has a very big and positive vibe to me.

I hope this has been of some help to you.


Peter Stone

Hi, I have to agree with Janeology's comments. If your target is business people, then I suggest more of an "advertorial" or white paper approach, that lets them know how you can help their business.

Your copy is, um, a bit "overenthusiastic" in places...here's one example:
Experiencing the StratPlan Model, will convince you that you have to use the StratPlan Wizard in your business

Nobody "has to use" anything, and most don't like to be told this. Instead, a clear presentation of the benefits readers will experience, targeted to them in their language will work best.

I just helped someone revamp their stock trading tips web site. They had gone with a very hypey, "cookie cutter" sales letter approach, which didn't build up credibility.

Buried deep in the copy were relevant facts: this man was a registered stock advisor, and had 12 years of experience in the field. Now, I like to know the credentials of someone that I'm trusting to advise me right up front, so I suggested we make his site more "business like" and in the headline, let folks know that a registered trader with 12 years of experience was willing to share his insider tips and strategies...far different from the "make a lot of money! Fast!" headline he had before....

I suggest a similar approach to your site.
Also, you have 3 testimonials boxed together past the middle of your site. I would have one close to the top, and the other two right before key points (such as the price). Can you get at least 2 more good testimonials as well? That will help.

I hope this helps, and good luck with your site,
Sheri

Hi Everyone,

An engaging dialogue really. Just to go back to the basics of Marketing, "AIDA".

Attention-Interest-Desire-Action

That's where it all starts and ends. Hope you narrow the target market down to a solid description, focus on the true value of the product - not the added value alone, and write copy that talks the reader along the AIDA principle.

Then there are tens of ways to go about it: Collect email addresses, offer a course powered by autoresponders, etc.

Hope that helps!