I just got a email from a gentleman who has the next awesome product. He wants to make a informational product and sell it. He is super legit and he is a multi millionaire so I have no doubt what he wants to sell works.
Now I get emails like this all the time and I can’t speak for everyone but everyone I have ever checked out is pretty awesome. Some are completely revolutionary and if someone follows it step by step there is NO doubt you can make a lot of money.
Before I go to far into it let me give you a great example:
When I was growing up I had this neighbor who made AMAZING food. It was sooo Amazing good like nothing you would ever get at a restaurant. One day he got a small business loan and opened a restaurant. It did well. At least I thought. Every time I went in there it was busy as shit. But sadly it failed. Badly…
But that is very common and why a HUGE percentage of new businesses fail.
Here is the reason… are you ready for it?
Its always the model. Â Its never the product.
The EXACT same thing happens in our space. You can have the greatest product ever but if you do not understand the model on how to sell it… and how to monetize it then you are fucked.
In order to sell your product or service you have to:
- Get affiliates to promote it. Â The general model is to pay out 75%-120% of the sale price. Â Without this your product goes no where.
- Guarantee the user consumer will make a ton of money.
- Guarantee the user consumer have to do ZERO work.
- Have testimonials where people talk about how the product changed their life.
- Guarantee the user will make money while they sleep.
That seems crazy right? Â After refunds and paying affiliates your going to lose probably 30-50% of your money.
To make money on your product or service you have to:
- Make the refund process VERY hard for the consumer. Â Send something physical so they have to return that in order to get a refund.
- Sell the person’s information to coaching floors, tax preparation services, 401k planning and then do a revenue split with mass mailers on all of the buyer and partial data.
- Promote other people’s products with your new list of emails.
By the time everything is said and done you should be 100% of the original purchase price in the green.
Now once I explain that to people they usually retort with something like:
But you have had tons of great products and services that have been very successful. How did you do it?
Well first of all I have to disclose something to you. Know how I know so much about the above? Because I went down that road for a short time. I have no excuses it is what it is. I will tell you it was a huge mistake.
Guess why I failed.
- I am easy to find and get ahold of.
- I refund everyone who wanted a refund.
- But the bottom line is I was not willing to do what it would take to be competitive (to the mainstream) by sinking well below FTC guidelines.
But I have had many products and services succeed without sinking to a low level. Â Which is probably why so many people turn to me for that question.
So ok let me answer that directly. Â Ready for it?
Give people value and build trust with them.
Evidently a lot of people find value in my blog. Â Whenever I sell something it sells. Â A while back I wrote a 80 some page PDF called the Affiliate Cash Tree. Â When it was for sale I did not make any income claims or promises of wealth with no work. Â Instead I made a simple description of the product and a button that said “Just Buy My Shit”. Â I had no affiliates. I just used my blog to promote it. Â Â I sold $40,000 worth in the first 24 hours and another 20k or so later. Â Sure I had some refunds… Â but it was a great product, people loved it.
BUT I only reach so many people. Â And while selling 60k (maybe 50k after refunds/paypal fees) may sound like a lot it doesn’t even cover a month of my expenses. Â But honestly it took me a week to write that PDF and it was somewhat bonus income.
So here is what I do and why it is so effective.
- Give people something of value. Â Something that shows you do know what you are talking about.
- Establish credibility right away.
- Show what makes you different then your competition
- Tell people the reason you are selling your product or service.
- Tell people how you started.
- Make it easy for people to get ahold of you. Â Its never been easier then ever to interact with people interested in your products and services through email and social media.
You have to do what your competitors CAN’T.
- I have sold over 10m+ of other peoples products through email. One guy even bought me a brand new BMW cause I sold 500k of his product.
- Nominated by eBay for a Presidential Award in 2007.
- Had my own segment on Good Morning America answering questions from small business people.
- Been in countless major news outlets.
This is what makes me different. I know you are better then your compeditors, probably have press, and have REAL customers that love your products.
For instance when you signup to http://www.shoemoneytraining.com
- I give you a free ShoeMoney System account.
- Give you more free stuff.
- Talk about why you should listen to me and not these other idiots who have never done anything.
- Give you more awesome free stuff.
- Build more trust with you.
Â Then I sell you shit. Â Go ahead and sign up. Â You will buy something. Â I know it sounds funny, Â and maybe even cocky but its just fact.
This is one of the key factors why our PAR Program has taken off like a rocket. Â You take someone like me, Â who has 8 years of copywriting experience to build relationships and sell shit through email and put it to work for your product or service…. for our clients its night and day.
But wait it gets better!
Have you noticed what I did in this post? I gave you a huge amount of value on how to sell your product or service. I established that I know what I am talking about. Â I talked about all the press I have gotten and awards. Â So I bet you are now ready to sign up for the PAR Program and let me consult and setup your company to make money while you sleep…
20 thoughts on “Why Nobody Buys Your Product or Service”
lmao that’s bloody brilliant – signing up to buy all your shit right now!
Yep I agree give your reacts good content and build trust. They will purchase stuff if they trust and know you. I like the idea on telling people how you got started. I see you did the same thing…
You can manipulate people by giving them the best.
Don’t you mean ‘influence’ people? Manipulate is such a scary word! 😉
hi Shoe, love your posts as always.. I just took a look at the SHOEMONEYTRAINING site – wow that some old content on there? most is not applicable anymore (using craiglist for clickbank promo, abritrage, Seo stuff is out-dated) any plans to update to something more relevant?
This is a great post and this is why you succeed, building trust is always the first step, then you can sell people anything, I know who sell hope!
Nice thoughts Schoe, its quite important to follow trends too. We should question ourselves why should one buy our product? The answer to this question will solve many problems. Thank you.
As pathetic as this might sound Shoe, I still find it a little disconcerting that you describe your products as ‘shit’! I get the lingo etc but others may not. ‘Shit’ carries mixed connotations and I don’t want to buy anyone’s shit! Now don’t give me shit over this comment you hear? 😉
As pathetic as this might sound Shoe, I still find it a little disconcerting that you describe your products as ‘shit’! I get the lingo etc but others may not. ‘Shit’ carries mixed connotations and I don’t want to buy anyone’s shit!
Well I signed to the shoemoney training even before reaching the end of the article so… I guess this post gave me MASSIVE value.
I’m pretty sure I went through that training before but I’m certainly going through it one more time since I wasn’t doing anything before.
Might learn a few new things for sure!
Thanks for such a great information. In these days its hard to find a honest blog.
This is sooo exciting! I love your blog and check it every day.the blog has grown so much. Wish you & the blog more success!
Hi, Great blog you have here stacked full of info that will greatly help me so i will sign up right away.
It’s true that most businesses fail because of flawed models even when they have great products. It’s important to make sure that the administrative and financial aspects of the business are looked after effectively.
this is the article that i looking for. ,
i wish u write an article like this for many time . . ,
Man you’re a Deva, Using a lot of advanced psychology techniques in the post . i take off the hat for you
[…] the software. Even though I’m giving it away for free, ShoeMoney posted some great advice on why no one buys your product or service which I’ll be taking on […]
Proving value builds trust and desire for your offers. When I think of all the times I have opened my wallet and bought something online. This has been crucial. Really, just look at why you bought something and do the same thing.
Where is the sense to payout 120% of the sale of a product? This sounds like a strange business-model. 😉
Congratulations on your article I found quite motivational, I think the relationship with people is the most important.
They will purchase stuff if they trust and know you. I like the idea on telling people how you got started.
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