Books vs. Programs, $ vs. $$$ | The Answer To ‘Why Would Anyone Buy That, When…’
You've always wanted to be a rock star, right?
In my capacity as product-creating, funnel-building coach/consultant, I hear certain questions repeatedly.
One of them is:
“If I’m offering this material in XYZ format, why would anyone buy the same material in another format?”
In this context, think in terms of XYZ usually being a lower-priced item such as a book, or, say a 3-part teleclass versus a 2 day live training event or lengthier program.
The best answer I have to this comes like so:
‘It’s a good question…tell me, what is the name of one of your favorite musicians or music groups.’
The answers here are quite fun. I’ve had everything from Andrea Bocelli, Roberta Flack, Billy Joel, The Ramones.
This answer in hand, I then ask… ‘Well, if you have their CDs or MP3s, why would you ever go to a concert?’
This way of answering is an example of a shorthand coaching moment, within what is arguably a very consulting- oriented conversation. Most consultants would not take this tack, agree?
Value comes in many forms, indeed, and not just in obvious ways. Keep this in mind as you productize or strategize your next SKUs. What name would you give the value you are creating? Is it the equivalent of a concert? CD? Other?
A great little extension of this occurred this week, wherein the coachee answered the name of their favorite band, and said in addition that it was a very sad thing that he’d never had a chance to go to a concert and they regretted it greatly! So the extra learning became available – in what manner could the ‘concert’ they were to create – live training, keynote speech, etc. – be so valuable and so rich and intense an experience, that word would get around and people would regret missing it?
Great coaching or consulting or business rule number one: have something great to say. That requires some ongoing thought, and inevitably involves finding and developing your thought leadership.
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Crafting coaching moments like this is one of my favorite activities. There are five more available in the Money and Meaning book excerpt available – no-charge – near the top of this page. Takes less than a minute to avail yourself and – it’s as easy a read as this post was. Why not go for it?
LOVE the expert seizing of the coachable moment to really cause a shift in the client and then now sharing it with me so that I can open up and expand the possibilities.
As always, Andrea, you provide enormous value no matter the format. Thank you.
That little piece of advice for re-framing the statement “why would they want to buy it in another form?” is outstanding…
I’m always looking for different analogies and examples to use when talking to business clients or athletes (I’m a peak performance coach for pro athletes) and that quick little re-frame will remain in my back-pocket ready to be unleashed.
Thanks Andrea
- Todd
That’s a perfect analogy. Thanks Andrea!
I’m working on my own signature program and was still on the fence as to offering the same information in the multiple formats. Iknow that it will be important to expand more on the higher price point products/services, however, I’m glad I’m on the right track!