[OSL]

As you know, I am launching a product. I am testing demand and want to get a general idea of how much people would pay for something like this. Please vote and let me know, thank you.

Included in the product will be worksheets, text content and tutorials, screencast video tutorials, and action plans to help the person along the entire path.

[Vacancier Permanent]

I'd price the initial ebook at $47 then, offer 1 on 1 coaching/training/consulting at $497 to a few hand picked totally serious/committed guys.

[CJ]

The problem here is going to be people that are really looking for jobs, may not have enough money to spend $497. Hell, $47 might be more than they want to spend.

You should start low, and if there's high demand, it is only natural you raise your prices.

[Vacancier Permanent]

CJ,
From my understanding, YMG's product is not going to help people get a or any JOB. There are countless books out there on that topic. What he offers is to help those truly committed, a game plan with specific actions to get their feet into an international job overseas in an emerging market/economy leading to an exicting, rewarding, fullfilling and very lucrative career. That's a MAJOR difference between giving advice on how to get a job versus, getting an international career. As I have learned from both personal experience on my own existing online biz and seeing/reading other successful online and offline biz owners, is not to shoot to sell for anybody and everyone and their dogs, but rather, get very specific about a particular segment of the market/niche, become a specialist in that field/industry, know your products/services inside out, then you'll be seen as the expert, guy to go and people won't blink twice about a price tag of $497. Why? Simply because the value provided here is outstanding and the people looking for that kind of specific and technical knowledge and or first class service, will know they're getting a bargain. Heck, if I have been able to sell my luxury vacation membership successfully at 3k a piece, (again, due to the outstanding real life value it offers to people), I'm confident a knowledgeable (not just theory knowledge but rather, first hand personal experience of what he's talking/teaching about) and bright guy like YMG can easily, not only charge $497 and get it no problem. Actually, after re-thinking about it, once he fine tunes his final product, I feel he'd short change himself if he were to offer it for $497 as he could easily make it into an elite product/service/membership and sell it for twice if not more that price.

[truedat]

$199 for access to the website and course materials/forum etc ($99 per year thereafter for continued access).

$499 for the previous stated access, plus (5) 1 hour personal phone based training/coaching sessions.

My 2 cents.

TD

[OSL]

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[Beavis]

I think it is important to provide consulting services for another reason: this is your chance to impress people directly and turn them in to fans.

It will take a long time for you to have success stories as the whole process takes approx a year to complete. In the meantime, people who know you and are excited about the assistance you have given to date will be excellent references / promotors. At least for me this seems like an important part of the puzzle.

its an excellent idea. good luck!

btw. another thought: probably makes sense to target those who are still in school and looking for guidance on how to turn a summer internship in to something big. those kinds of kids will still have a lot of ambition and financial resources to pursue this kind of project (which is, frankly, a big investment both in terms of time and money).

[OSL]

Thanks for the suggestion Beavis. I see your point about consulting and helping out current university students - my challenge at the moment is not being too many different things for too many different people, or I will run the risk of diluting the value of my product. You raise a good point about getting community support and testimonials, which is why I am offering free consultations to some people at the moment.

Having said that, I have been keeping a keen eye on university students, as they are the best candidates for this sort of thing and have the flexibility to take risks and do this while studying abroad. In fact, I am working with one university student who messaged me from rooshv earlier today. People like him have less holding them back and more room to explore a range of options.

[oldnemesis]

(04-25-2011 12:05 PM)youngmobileglobal Wrote:  

Yeah, I think it makes sense to launch different pricing tiers. Based on the demand testing I've done elsewhere, I've told people I plan to price it at 97 USD and gotten two reactions:

"Really? I don't know if I"d be able to pay for that."

"What!? That's it!? I would pay 500 bucks for that information."

Check this one. It is about software pricing, but the concept is similar.

[OSL]

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[CJ]

YMG have you considered setting up a payment plan of some sort, that would offer a partial refund if the person buying your product were unable to get an international job within X amount of time, assuming they could prove they put in their share of the work and followed your steps?

[OSL]

Yes CJ, I have considered a refund policy. The problem is that it is very hard to keep people accountable on their hustle for jobs.

Hell, I am personally consulting one of my friends and even while holding his hand I can't keep him accountable. I don't know what will happen when I put this out there for strangers to follow.

People can totally lie about whether or not they cold called companies for internships, whether they designed and implemented their independent projects, whether they went out and networked at chamber of commerce events.....there are too many weak links in the chain.

I'm still not sure what I'm going to do about this.

[Caramel Communist]

Pricing is off:

You need to decide your pricing strategy is either
bargain
premium
cost plus
variable - dynamic

I would keep it between $10 - $20 bucks. Why?
-what makes you an expert? Success stories that make you credible?
-the internet makes cost, distribution, information accessible, low cost, and affordable.
I see nothing as far as retention strategy or value added to justify $50 bucks or more for information I can google or call a professor at a local university and obtain for free. If I spend that much I want a guarantee that rihanna and vida guerra are gonna top me off b4 I go to bed.
-your customers have been conditioned to pay between free and $150 (Text Books) Anything over that better come from reputable research/consulting firms staffed with Ivy League graduates with a track record and success stories.
-I can't get any of this information from Alibabba.com for free?

just feedback bro and i'm not trying to insult you... challenging you just like I would want someone to challenge me....good luck!

[hydrogonian]

Your pricing and sales volume should maintain a rough inverse relationship, with there being a "sweet spot" in pricing and sales volume that is the most profitable.

That "sweet spot" could be as low as $10 or as high as $500. It is very possible that a $10 impulse product could make enough sales to surpass the profitability of a $500 dollar product (or pick your price - I'm just using the other end of the spectrum), or that the more expensive product, with maybe just a few sales per month, is the better strategy. But there's no way to know without testing.

With that in mind, its a lot easier to move your price up than down, and if you start low you will get a lot more useful sales volume data right away. I think starting low is the right choice. Also, your product should improve after you release it, either with added material or improved material, and so pricing the first release at your lowest price tolerance is probably best.

Pricing for maximum profitability is the hardest task to accomplish with something like this, imo. But its definitely one of the best uses of your time and money to find out the optimum pricing is.

The only shortcut I can think of is to use the competitive experience of another product creator. How? By finding a comparable product with a lot more time on the market, even if it isn't exactly the same, and taking note of their pricing strategy. If they seem to be well known / successful in their niche, than you can be sure that at least a little testing went into their pricing. If not testing, then just hard experience.

Also, keep in mind that the more people that own your product the more word of mouth will help your sales, boost your reputation, and enable you to charge more in the future. If no one can attest to your product, because its $100 or $500 and not that many people own it, then your already low sales of a high priced product will be lower than they would be if you had a lot of raving fans out there. So, an initially low pricing model will help build that raving fan base that may enable you to charge more, while maintaining sales volume, in the future. Or, you may want to keep the price lower and make your money on volume. Again, this returns to the concept of optimum pricing.

[manilaguy]

I have little interest in China so it doesn't apply to me. $1 - $20.
If there is one for Brazil, then I could directly see the benefit. $19.99 - $45
Now if it were to be some sort of "principles of international career hacking" where the information is transferable to any country then maybe $15.99 + individualized private consultation fees for target country.

In summary, I would pay medium amount for general information, but if it's specific to my needs then I would spend more.

My profile: young professional with not much time to research opportunities.

[manilaguy]

I'd throw the money to see if it was worth it. I think you will make more on the consultation. If you are able to place someone then that's another ball game.

[OSL]

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[hydrogonian]

(04-25-2011 09:02 PM)youngmobileglobal Wrote:  

Quick note before I reply to a lot of very solid feedback you guys posted.

http://www.escapefromamerica.com/

I sent my method into them in the form of a 1500 word article and the editor of that magazine has agreed to feature it in the May issue. Once I put my website/product up, I can throw a link onto that article or whatever other articles I write in the future.

400,000 subscribers will be getting my article in their inbox in May. Demographic is expat and other westerners abroad - you can tell by the website name the nature of the market here....."Escape from America...."

There is a lot to be said, I realized, about leveraging these websites if I can get published on there.

All you other young, mobile, global, and well-written fellas.....think about contributing a piece.

uhh...your going to make some serious cash if you price it right and can have something ready to go.

I think their ebook format is geared toward $20-40 dollar products. Hell, just put a substantial teaser product out there at that price, and then you can upgrade previous customers to your full product later, when it comes out, and give them a discount in the amount that they paid for your teaser product. On second thought, i think that the publisher of EFA would have to be cool with this as I'm sure they value the trust that they have with their subscribers. Selling less than a full product might not go over so well. These are just some random quick thoughts, obviously. Getting featured on their website is a huge break.

[OSL]

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[OSL]

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[CJ]

So, are you going to go with the book route, and then offer a course separately? That seems to make the most sense to me. Kind of like Roosh offering his book, and then offering one on one personal training. You could have your own seminars!

I agree with Hydro, if your execution is correct, you stand to make a lot of money with this idea. Good luck!

[OSL]

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[OSL]

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[Jalouse]

I would price it on the high side, if you're delivering what you promise this is of huge value to the customer, also by pricing it high you automatically discount the people who wont follow through.

[OSL]

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