I was talking with a friend this morning and he told me all about a new project he is about to launch.
He was excited and thought he could make a decent amount of money with it.
It sounded interesting, so I asked him how much it cost.
His response: “$5.99!”
There are a lot of reasons to sell a product for $5.99, but making money isn’t one.
My friend has a good size audience, big email list and massive social following. That low of a price point should be reserved for traditional book publishing deals that are getting you exposure and access that no other medium can.
But for making money? Not interested.
Or … maybe I am.
Shortly after having that conversation I was driving down the road checking Facebook and saw this ad…
…annnnnd I immediately changed my mind about my friends $5.99 product.
Because the process behind this Facebook ad is freaking genius.
Jeff (the guy who ran the Facebook ad) has engineered a formula that turns his $5.99 book into a $197 product (and eventually a pitch for his $2,000 flag ship product).
It’s freaking brilliant.
Here is a detailed analysis of how it works:
The 5 second version of all of that
- Jeff sales his book for $5.99 (shipping fee)
- After payment he pitches you a related product for $197
- You receive a free ‘bonus’ of 3 educational videos
- At the end of the bonus videos you receive an offer for a $2,000 product
Why does this work?
Did you ever attempt to kiss a girl within the first 5 minutes of your first date?
If you are wondering if it works, the answer is no. Don’t ask me how I know…I just do.
Have you ever brought a girl flowers on your first date?
That tends to work a lot better.
Getting to know someone by giving is very effective.
And that is why the “Thank You’ formula works so well. Jeff starts his relationship with you by:
1. Showing up in a familiar place (Facebook)
2. Giving you something of value to start the relationship (his book).
Then, just like in any relationship, once you have expressed interest he goes in for the ‘ask.’ But he isn’t obnoxious or annoying about it.
In fact he goes above and beyond to make sure those that are not interested never get asked and for those that are interested he makes it completely pain free to order.
How To Implement
Not going to lie here, this is an advanced strategy. Which is why most people don’t use it.
But you don’t read this site for little league stuff.
You need to be using this.
If you have multiple products. Link them together with the “Thank You” Formula.
Only have one product? Create a $5.99 version and link it to your flagship product.
The implementation varies a good bit based on what shopping cart you use to sell your products.
For example: If you use FoxyCart you have to do a ton of custom coding but if you are on Infusionsoft it’s pretty easy.
To make it super simple for you I’ve researched and put together a list of how to implement a one click upsell on some of the popular shopping cart platforms (Shopify, Infusionsoft etc.).
I’ve also put this formula into an easy to follow checklist to make it simple when you get to the implementation stage. You’ll need it.
Both the shopping cart instructions and the implementation checklist are in the bonus section. (Click here to access )