There’s three things someone needs, to be a prospect for an information product.

If they’re going to buy coaching, a course, a book or anything else where they have to do the work themselves, they need:

  1. Pain
  2. Time
  3. Money

On the other hand, there’s only two things they need to be a good prospect for a service business.

  1. Pain
  2. Money

It’s pretty easy to see that the thing between the two is time, or at least the prospects’s perception of it…

You’ve heard the saying “Time is money”.

Successful people really believe that. Although they have the same 24 hours as everyone else, they feel that they don’t have time, so they spend money to save time.

That really limits what you can sell them.

If there’s any chance they can pay someone else to do the work, they will.

The only things they’ll spend money on that don’t save time are things no-one else can do for them.

Eating, sleeping, exercise, and anything where they need to show up in person, so maybe public speaking, maybe dating.

If you’re going to sell an online course where someone has to spend time to learn a skill, and then spend time to execute on it, you need to qualify them as having time.

If you’re going to sell a service where the whole idea is that they trade that time for money, you need to qualify them as having NO time.

The target audiences, and the funnels for these two offers are radically different.

If you want to prove that someone has time then long funnels, lots of content, hour long webinars will do that for you.

If you want to prove that someone has very little time, slap a phone number down as the call-to-action, and make sure that someone is available to answer it, pronto.

Now you might think that this means you should make a hard call between providing a service or selling a product, but if you did that, you’d be making the second huge mistake I see startups make, whether they’re selling services, courses, SaaS, or even physical products.

I’ll go over that in the next email

 

Stephen Pratley
Copy & Conversion Consultant
The Conversion Co.


c/o The Conversion Co., 2a The High Street, Thames Ditton, KT7 0RY, United Kingdom
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