Mike: What Frank does is he takes this information and now that he has people that maybe pay, I don’t know what it was, maybe $5,000 or $10,000, whatever it is, to get into his coaching program, he then uses that to create the product. He then goes and he’ll sell that product for let’s say $497 or $997 instead of $5,000 and it’s the recordings.
And then he can later go and create a Mass Control e-book where he can take a summary of everything and sell it for $47 on ClickBank. Then when they buy it he can say, “Hey, I have a home study course that sells for $1,597. In fact, you may remember last year we sold 1,000 units in 36 hours.
“Well, since you’ve just purchased my e-book for $47 and you’ve shown an interest in Mass Control, what I’m going to do is I’m going to give you a five times discount on that $47 you just paid. I’m going to give you up to $500 off my home study course, normally $1,497. You can buy it now for $997 at this one time offer special since you’ve shown interest in the Mass Control psychology.”
So what ends up happening is we recommend creating the bigger product first and then finding something that you could break down out of it to create your front end product. So what we’re doing with the 7 Figure Code is we have the home study course which is a DVD home study course with printed transcripts and the Power Point slides of every presenter.
We paid someone to go through the entire 7 Figure Code and create a mind map of every single DVD. So it will show if we were talking about taxes or we were talking about product creation or time management or hiring employees. Now you get these awesome mind maps. I mean these things are just awesome.
Then we hire somebody to take all the transcripts and then read them and say, “Okay, how would this look if it was a book?” and write it in chapters then and then put it in more of a sequential order and now we have The 7 Figure Secrets with these mind maps and we also have the Power Point slides that can be popped in there as well, usually with some good flowcharts and things like that.
And now we’re going to take that and what we’ll probably do is raise the price of the 7 Figure Code because right now we’re selling about ten a month, maybe a little more, maybe about twelve to fifteen a month. But what we do now is we raise the price to $1,497 and that is a contrast point.
And now that we create the front end we say, “Hey, you can get this $1,497 course,” and create a charter price or whatever we want to call it of $797 or $697 or $897 or $997, whatever the case is.
So when you have a price comparison you have to have a price comparison when you do a one time offer. It’s crucial. That’s a big mistake a lot of people don’t do. They never show they’re selling higher somewhere else. Otherwise what’s the incentive to buy it now?
You don’t want people thinking, “If you don’t buy it now you can never get it again.” What you want people to think is that if you don’t buy it now you’ll pay more later. That’s a very important thing in a one-time-offer.
What we try to do is now create that front end, so now if we can sell 15 or 20 e-books a day, now you can get a 10% conversion where you can do 1.5 to 2 sales per day of the home study course on autopilot for years to come—where you can sell two to three courses a day by creating a front end for it.