Freedom Newsletter

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Why Would Anyone Pay for This?!

2017-01-05 09:43:45

When I was creating my very first product, an ebook for my site at greenexamacademy.com, one thought kept racing through my head:

Why would anyone pay for this?!

You see, I had built a blog that had all of the content one would need to pass the exam for which the site was about—and it was all free! So to package it into an ebook and sell it almost seemed like a sin to me.

Why would anyone want to pay for an ebook that has the exact same information that could be found for free on my site?

Fast forward to today and over 15,000 copies of the ebook have sold. Not one person has ever complained about the content of the ebook being the same as what could be found on the site.

Not one.

Why do you think that is?

Because the ebook was convenient—and people will pay for convenience.

That's the first big lesson here.

Anything can be found in search engines these days. But it's a hassle to spend the time to do the research and figure things out, so people will pay for something more convenient.

A website with free information about a particular topic is more convenient than manual search for obvious reasons, but even then it's still a hassle for a lot of people to go through a crowded site with superfluous information and/or go back and forth between pages, etc.

The ebook was my convenient solution for greenexamacademy.com, and it worked like a charm. Later I added an audio guide to go along with it, which people were happy to pay for as well.

The second big lesson is:

Some people would much rather pay for stuff than get it for free!

There's something going on psychologically when it comes to buying stuff and then doing something with it, as opposed to just getting stuff for free.

The perceived value of free information is far less compared to the same information that's put into a "neatly bound" and convenient product.

People want to pay for things, and the cool thing is, when they pay for things, they are more likely to take action with it!

If it's free, people feel like they're not losing anything if they don't follow through, which is a bad mindset to have.

But, if they've paid for something then they've made an initial investment and are more likely to use whatever it is they've purchased.

Just something to keep in mind :)

So how are you making the information you have to teach more convenient for people to consume, and what's the perceived value of the information you have to give?

You likely have a lot more to sell than you're already selling. Validate that next idea, and then move forward with it.

More on validation in upcoming emails. . . but hopefully this gets the wheels turning. :)

Cheers, and all the best to you!

-Pat

P.S. f you're anxious to get started with building something that matters to your audience—something they would pay for—I recommend you check out this guest post by Grant Baldwin on the blog, where he took an idea, validated it, and then made $141,659 in 6 months.

Click here to check out the step by step guest post on the SPI Blog.