"I bought the book Think and Grow Rich for about $10 and it sat on my bookshelf for a year. I could never find the time to read it. So I decided to check on Ebay to see if it was available on CD. I wanted to read it, and this way I could listen to it in my car. Sure enough, I found the CD's and paid another $100 for them. There's no difference in the content between the book and CD, but I paid almost 10 times as much for the convenient format. Almost any book can now be found in text and CD. It's the exact same content, packaged in two different ways, but now you can sell the CD for a lot more money than the book.
As another example, I paid $1700 for a course on CD with included workbooks, but never had the time to go through it all. But recently this course became available in an MP3 format. So guess what, I bought it again! Customers will pay more for convenience. Now, where do you begin with your product? Let's take a look at what I call The Value Ladder.
1. Book or E-Book
This is the most difficult way to market your product. It requires the most time to put together, and earns the least amount of money in return.
2. Audio
This option is the most convenient for your customer and now you're able to charge a bit more for your product.
3. Video
Again for convenience and even more return than the audio format.
4. Live Seminar
You charge more with each step until finally you reach the top.
5. One on One Consulting
Customers will pay top dollar for the opportunity to learn from the best.
Take your content and teach or distribute it in different ways. Using this Value Ladder allows you to make more money while better serving your customers. Everyone wins!"
