The Steal Club - Pricing secrets from a $1.3M course

Hey fellow thieves, and welcome back to The Steal Club!

We plan to commit five quick heists today, one content related, the rest business-related. It should be a good one.

Let's dive in!

5 quick thefts

#1 - Price anchoring done right

Having three price tiers for whatever you sell is common advice (known as price anchoring), but here's a practical example on to do it well:

According to Thomas Frank (this is from one of his products), approximately 95% of people buy the $229 bundle.

In addition to offering more for that bundle, he also makes the price gap between the second and third tiers smaller than the gap between the first and second tiers.

So if you are selling something with a few price tiers, definitely steal this.

🕵️‍♂️ Stolen from Thomas Frank​

#2 - How to craft good offers (visual)

Not a bad formula eh?

🕵️‍♂️ Stolen from Jon Brosio (who stole it from Alex Hormozi)

#3 - Pricing secrets from a $1.3M course

I see a lot of creators (me included) just slap a price on their digital products without thinking too much about it.

Just as I was thinking about it, I came across a thread from Justin Welsh explaining the science behind the pricing of his LinkedIn course.

A course that generated over $1.3M in revenue.

Justin found the sweet spot to be $150.

But why?

• It's accessible. He targets a larger audience (beginners) that's not ready yet to make a huge investment
• It's a "quasi-impulse" buy
• It's more likely to generate word of mouth (we are more comfortable recommending affordable stuff)
• It will accelerate global adoption (he included parity pricing to make sure it would happen). This also increases people referring the course.

So if you are planning to release a course soon, consider the $150 price tag!

🕵️‍♂️ Stolen from Justin Welsh​

#4 - How to use Reddit to find content ideas

It has always seemed to me that Reddit is a great source for business ideas and content.

Corey proposes a very smart framework for getting insights directly from your target's "mouth".

Corey Haines @coreyhainesco How to find your next marketing idea on Reddit: 1)Find a relevant subreddit for your product 2)Search for specific keywords like "how to" or "struggle" 3)Sort by top-voted comments That right there is a huge library of your customer's pain points. Solve them with content. February 7th 2023 1 Retweets 30 Likes

Okay, the tweet above talks about marketing ideas, but this method would also work for content ideas.

This is especially brilliant because you can filter your audience by keywords like "how to."

It reminds me of my framework to steal ideas directly from your audience.​

🕵️‍♂️ Stolen from Corey Haines​

#5 - How to increase sales 101:

• Tell people you'll increase prices
• Add a time constraint (for example, in 1 week)
• Watch your sales skyrocket

FOMO (fear of missing out) is one of the most powerful sales tactics out there. Proof that it works 👇

Danny Postma @dannypostmaa With @getheadlime, this got me $8K extra MRR in 48 hours 😅 twitter.com/investinganna/… Anna 📈 @investinganna How to increase sales 101: 1. Announce you will be increasing prices 2. Allow people to purchase with the old price for 1 more week … profit 😅 February 6th 2023 3 Retweets 64 Likes

This could totally be applied to digital products and even services! But you can't do it too often or you'll annoy people.

🕵️‍♂️ Stolen from Anna​

Newsletter worth stealing from: The Tilt

The Tilt is a twice-a-week newsletter that helps content creators with the business side of being an entrepreneur, with news, successful creator case studies, how-tos, education, and training covered in each issue.

​Check it out!​

💰The Stash

If you’re tired of being lied to by gurus, this book will show you the truth about building a successful online business.

My good friend Janis writes the Ideas newsletter. He shares short ideas for creative entrepreneurs (with amazing visuals). Join for free.​

I plan to double down on LinkedIn for the next few months. This is the tool I'll use to manage my content (from the same folks that made Tweet Hunter)

Some of these are affiliate links, ads or links from friends

That's a wrap!

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See you next week!

Alex Llull, Chief Thief

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PS: I'm still gauging interest on if I should make a mini course on my "How to make 5 pieces of content from just 1 idea" framework.

Reply to this email with the word "IDEAS" and I'll send you the landing page as soon as its ready (with a big discount :)).

If you already replied last week (thank you), I'll be in touch shortly!