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We have already seen a few of the advantages of selling low-priced products in previous chapters.

For example, when there is less money about, you are likely to sell far more low-priced products than you are going to be able to shift products with a premium ticket attached. Sometimes, this will give you access to markets that would otherwise be denied to you as we saw in the debt example.

Also, selling a low-priced product can often be a very effective ‘door opener’ for a more expensive product in the same marketplace. For instance, most online marketers have an ‘upsell’ product that they present to anyone who has bought a product from them.

If your ‘front end’ product is a low-ticket item, it naturally follows that it will sell in far greater numbers than would a higher-priced item, thus enabling you to present your ‘upsell’ product to a greater number of customers.

Most experienced marketers understand that once you have pulled a new customer into your business with a relatively low price product sale, the next thing to do is to start qualifying that customer. In particular, it is important to establish how much money that customer is able or willing to spend with your business, because the customers who are willing to spend most money are ultimately your most important customers.

Thus, the most effective upsell tactic is to present the new customer who has just purchased a front end, low-priced product with a complementary product with a significantly higher price tag attached. In this way, you can immediately ‘ask’ the new customer whether they are able or willing to spend more money with your business.

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If you buy lottery tickets, having less competition is great. If you do SEO, having less competition is great. If you do PPC, having less competition is great so you can hoard all the good keywords and bid pennies per click on each one. It would seem that having competition blows.

Well actually, in this case, competition is good. What does the presence of competition mean for product creators? Well, it means that a market exists for a certain product or in a certain niche.

The more competitors or competing products that are present in a niche, the hotter you know that niche is. Remember all those “get your ex back” products? Yeah...hot niche indeed. If you wanted to create some kind of “ex back” product though, I wouldn’t consider those guys my competition. I’d consider them potential JV partners.

Here’s why all of them would want to become my JV partner: I’d create a product which does not directly overlap with theirs.

For example, if I wanted to create an “ex back” product, instead of creating yet another one of them, I’d create a “how to get back with your ex wife” product or something like that. I wouldn’t be directly targeting the same audience as the other products; just the divorcees. Or I could do something specific like “how to get your ex to call you”, “psychology of the breakup”, or stuff like that.

Instead of creating another “how to play golf” product, I could create a product about golf clubs or golf balls. This way, my product would be of interest to the general golf market and yet, not be in direct competition with the main golf products.

Instead of creating another “how to stop your panic attacks” product, I could create a product about the power of meditation and thought for example.

Instead of creating another generic “make money online” product, I could delve into a specific method of making money online that nobody has ever heard of before and reveal some crazy awesome secret tools and sites that nobody knows about – a method which has made me billions online.

Actually, on second thought, I think I’ll keep that one to myself for now...