What Is Your Product Worth
This is an expansion of an earlier article – if you haven’t already I encourage you to read the original post first.

Rock Solid Scripts that Sizzle

If you want to read the entire Video Sales Letter article series from the beginning, start here…

The First Five Steps to Creating Sleek Video Sales Letters

 

The hardest part of selling is asking for the sale.

On paper it sounds easy. You say, “The product can be yours today for just $997! Go here to make your purchase…”

You deliver one line, and then it’s a simple transaction – money in exchange for the awesome product or service you have to offer.

But it’s a line that’s loaded with danger for both seller and prospect.

The seller is thinking…

  • Have I done a good enough job of selling the benefits of my product?
  • Have I selected the price point appropriately?
  • Will the prospect really believe my product is worth this price?
  • Will I sound nervous or weak when I deliver the line?
  • Is the prospect, at this point, going to turn around and walk away?

And the prospect is thinking…

  • Is the product really worth this amount?
  • Can I afford this amount?
  • What might I be able to purchase instead with this money?
  • Will my family be unhappy with me for making this purchase?
  • Is there a better offer elsewhere?

This is where you make it or break it and the precise reason why asking for the sale is so freakin traumatizing!

From the perspective of a Video Sales Letter (VSL), this line is the defining point. Once you reveal the price of the product, your prospect begins to decide, within a few seconds, whether or not they’re going to make the purchase.

  • If the answer is NO, the prospect is probably going to close the video, which is totally okay. We all know that a 100% conversion rate is the eCommerce equivalent to a laundry folding Unicorn.
  • If the answer is YES, congrats… job done!
  • If the answer is MAYBE, then you’ll spend the next couple of plot points pushing them off the fence and into the shopping cart.

This particular section of your VSL could be the most impactful pivot point of your entire production.

But, no worries me lads and lassies… we’ve got it all figured out for you.

Choose Your Moment

The key to asking for the sale with full confidence is timing.

In fact, the key to producing a winning VSL, from start to finish, is mostly about timing.

Remember how we deliberately delayed revealing the name and specifics about your product? (See The Roadmap to the Big Reveal) The reason was because we first needed to agitate the pain points, establish you as an expert, tell your story, and so on.

By laying the groundwork, we made the revealing of your product more impactful.

This is the same principle.

Your viewers want your product. We know this because they’re still watching. (See How to Prove Your Product Is the Perfect Match to Your Audience’s Needs) Now all they care about is whether the price is going to be within their budget.

They’re ready to hear your price point so they can either excitedly hit the “Add to Cart” button, or gloomily close the video down, cursing their lack of spending power.

But, just as before, we delay.

And we delay, and we delay, and we delay.

So that, when you finally ask for the sale and reveal the price point, the groundwork you’ve laid down will allow you to deliver the line confidently, and will put your viewers in a place where there’s no doubt that your product IS worth the asking price…

Because it’s actually worth a whole lot MORE!

Plot Point #21: What’s it Worth?

How do you demonstrate that your product is worth more than the price point that, eventually, you’re going to reveal?

There are a number of ways, the first of which is through comparisons with other similar products on the market. Pick two or three competing products and do a side-by-side comparison.

Start with a ridiculous example that is much, much more expensive than your product.

  •      If you’re selling video editing software, you might compare it to something that Pixar uses to create its movies that costs hundreds of thousands of dollars.
  •      If you’re selling a golf training product, you might compare it to hiring a professional coach for six months.
  •      If you’re selling a rotisserie oven, you might compare it to a large industrial unit, used in a busy restaurant.

Then move down the scale to more realistic comparisons, citing examples that are closer to, but more expensive than, your product.

There are a variety of formulas you can use when drawing these comparisons, but the three we tend to fall back on are…

Old News: This product has been around for ages but everyone knows it’s a bit clunky, a bit flaky around the edges, and isn’t really the right choice in this day and age.

Impractical: There are some good points to this product, but it has this problem and that problem, and the chances that this is going to solve your problems are itty bitty, to non-existent.

No Contest: This product actually isn’t bad, but it doesn’t have this feature or that feature, and it isn’t really in the same league as your product.

Remember, you still haven’t revealed your price point yet. After each comparison, conclude by saying something along the lines of, “This solution costs XXX, but my system won’t cost you anything near that.”

This video sales letter outline and the points it makes allow your audience to see that you are giving them true options to ease their pain.

Plot Point #22: You Have a REAL Choice!

Take a little pause in the buildup to your price reveal and do a quick recap on the pain your audience could soon be removing.

Having done a great job of agitating the problem, you don’t want you audience to become so obsessed with what your product is going to cost that they lose sight of what really matters.

Go through the questions again…

  •      What will life be like if you don’t solve the problems you have?
  •      What will life be like if you do solve the problems you have?
  •      What would that do to your quality of life?
  •      How long have you been struggling with your pain?
  •      What would it be worth to you to end your pain?

Plot Point #23: Massive Value TODAY

Once you’ve finished your brief recap, go straight back into the tease.

There’s good news! Remind your audience that lesser products cost X but today they’re not going to pay anything like that.

And now you really bait them…

Reveal the normal, reasonable, everyday price of your product.

This is what we might call the recommended retail price. You could even show them your sales page which lists the regular price of your product. This is what people normally pay and your customers who have already purchased at this price point are very satisfied and successful.

Your audience could go, right now, and purchase your product for this great price.

BUT…

Even that normal price is not what they’ll pay today.

Can you see what this sequence does to your audience who are eager – maybe even anxious – to find out what your product costs?

Your regular price point is very reasonable and, for a moment, your audience will have been asking themselves whether or not they can afford this figure. But now you’re telling them that it’s even going to be less than that?

Now things are starting to get really exciting!

Some more cynical/savvy viewers will be questioning why you’re pitching them a price below what you usually charge, so make sure you have a good answer.

Maybe this is a grand opening for a new, updated version of your product. Maybe it’s a test offer to see how people react to a different price point. Maybe you need more case studies and you’re willing to offer a substantial discount to get more people in the door.

Whatever the reason, make sure it’s a genuine reason and not something you’re just making up to fake some kind of scarcity. The best marketers and salespeople are wily, but never dishonest.

If you can’t come up with anything interesting, just position it as a special offer for a limited time period. It’s your product, and you’re well within your rights to offer a discount if you choose to do so.

***

And after all of that, you STILL haven’t revealed the price!

You’ve given away enough information that your audience knows it’s going to be less than your regular, sales page price. And this will serve to have your viewers salivating at the prospect of getting their hands on your problem-solving, pain-soothing product for a steal.

A good portion of your audience will be ready to buy and you could probably ask for the sale now and get a few conversions.

But we don’t want to make A FEW sales – we want to make A LOT of sales.

So, before you reveal your price, you’re going to add a whole lot more value to your offer. In the next article in this series, we’ll introduce the Bonus Stack.

All of Genesis Digital’s launches, including WebinarJam and EverWebinar, have followed this VSL outline. One of our favorites is the Bonus Stack! Stay Tuned…

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