Five Reasons to Offer Tangible Products
Creating physical products in today’s digital age might seem behind the times. Yet the most successful information marketers out there still seem to be doing it. Why is that?
Smart marketers know that tangible products have a very important edge over digital products. Here are five reasons why you might want to offer tangible products.
==> #1: Higher Perceived Value
CDs and DVDs have a higher perceived value than MP3 downloads and video downloads. That means that for the exact same content, people will generally be willing to pay more for DVDs than video downloads.
Let’s say you’re selling 8 hours’ worth of audio. If you sell it in digital form, people might only be willing to pay $97 to hear your content. In CD binder format, however, you might be able to sell the same content for $297.
==> #2: Upsell to Even Higher Prices and Workshops
The amount of money you can charge for products earlier in your funnel has a trickle-down effect on the rest of your funnel.
If the first item on your funnel is $97, it’s hard to make the jump to a $697 product. On the other hand, if your first item costs $297, you can easily jump to $679 or even a $2,000 workshop.
The higher perceived value makes it easier for you to jump to higher price points later down the line.
==> #3: Builds More Credibility
People give physical product creators more credit than online product creators. They’re seen as more of an expert than people who produce digital products.
That means people are more likely to buy from you. It means they’re more likely to buy from you again. Emotionally, people perceive you as “the real deal.”
==> #4: Easier to do Partnerships, Speaking and Interviews
When given the choice, most people would rather partner up with someone who does physical products than someone who does digital ones.
Again, it’s a credibility issue. People view you as a more credible partner. They’re more likely to want to associate with your name and want to tie their brand in with yours.
==> #5: It Attracts a Different Crowd
Tangible products have a slightly different audience than digital products. People tend to be a little bit older and tend to be a little more willing to spend money. This isn’t always true, but in many cases it is.
Business owners who’ve been around for a while are used to purchasing CDs and DVDs for informational content. If you’re trying to get college aged kids today, digital downloads might work better. If you’re targeting people who have money however, tangible products are probably the better bet.
The bottom line is that tangible products can help you make money. It can help you raise prices, boost credibility and bring in more sales.