Ep78: The Mini Offer Myth (everything you need to know to make those $27 products profitable)

Filed in BUSINESS, The Blog, The Podcast 

Ever thought about launching a mini offer?⁠ ⁠

Maybe you’re looking to branch out into digital products for the first time, these can look like an amazing option.⁠ ⁠

Create something once, and sell it over and over again.⁠ ⁠

Something with no coaching or interactive component.⁠ ⁠

And you might think it’ll be way easier to sell because it’s cheap!⁠ ⁠

I mean, who wouldn’t buy this awesome thing for just $27? It’s a steal!⁠ ⁠

But unfortunately it’s just not that easy.⁠ ⁠ Let’s say you choose to price your offer at $37 and you want to make $10K.⁠ ⁠

Let’s assume a 10% conversion rate on the sales (which is generous, by the way), you’d have to get 2000 people to land on your sales page.⁠ ⁠That’s A LOT of eyeballs.⁠ ⁠ Even if you have a big audience, it’s going to be hard for you to get 2000 people to land on that sales page, particularly month after month to keep profiting.⁠ ⁠

The way you have big success with mini offers is by using paid advertising to drive eyeballs to that sales page.⁠ ⁠If you want to make those $10k months, you have to be running ads to get those 2000 eyeballs.⁠ ⁠

But now you’ve got the cost of the ads (and maybe hiring an ads manager).⁠ ⁠So that $10k just took a hit.⁠ ⁠If you are getting a 2X return on your ad spend, it means you will need to spend $5000 to get that $10000 in sales.⁠ ⁠And if you hired an ads agency? Add another $2000 in management fees.⁠ ⁠That $10k just turned into $3k.⁠ ⁠

We haven’t included any expenses like software, a customer support team member you might need to handle your inbox, and any potential refund requests.⁠ ⁠See how the money can look good from the outside (“easy 10k months!”) but isn’t so great when you peel back the curtain?⁠ ⁠

It was only after I had healthy revenue in my business and could invest in an ads team that I started venturing into mini offers!⁠ ⁠

I today’s episode, I’m pulling back the curtain and talking all about what it really looks like to lead with a mini offer!

Let’s dive in!

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  • Learn about The Mentor Model and how to turn what you know into a successful course idea (even if you don’t consider yourself an “expert”)
  • How to do market research and uncover the best course idea to launch in your niche
  • Identify exactly who your ideal student is and how to find them
  • What your course needs to include in order to sell like hotcakes (and get results for your students) 
  • Sketch out your entire course curriculum using the Course Map Method (all in one afternoon – bring sticky notes!)
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