This is the third post in a short series on building a minimum viable funnel to validate an info product idea. You can go back:
As we discussed in part 2, the potential financial value is about $44k for the year. The potential emotional value is high and the potential financial value is about $44k/year.
We aren’t using this information to inform price. We are simply using it to validate the importance of our product idea. And also use it as one data point for our polished product later.
Sidenote: You likely won’t be able to generalize your MVF’s findings to a higher ticket product if it does not check these two boxes:
- the promise of transformational value to a person personally and/or significant financial value
- and delivers that as determined by the purchaser, not you
Ideally you would be able to create a robust flagship course and justify charging $500 to $2000, but without those boxes ticked, your MVF price, even if successfully profitable, may end up as your ever-price.
The relationship between content format and price
Modeling value for a group of people means that the value is enough that once we do validate our funnel. you can increase your price above and beyond typical value sing a financial value multiplier to determine price But alas, we only have a day.
So you consider your options for a beta, or for only doing one part:
- 20 Page Ebook – $40
- 5 x 20 Minute Expert Interviews – $50
- 4x 30 Minute Videos Course – $100
You decide the expert interviews would take too long to setup and the ebook price wouldn’t generalize to a higher-ticket price for our purposes of validating the idea.
You opt for recording the four 30 minute videos, with a bonus video if you have time.
Next, we’ll go over running quick projections for choosing a test ad channel for your funnel test. Here’s where we are:
- Shaving down your idea
- Determine the value to your ideal prospect
- Choosing a good enough content format (and price)
- Choosing a channel and ad budget
- Facebook Ads vs Google Ads (Pros/cons)
- Running ad campaign projections
- Determining whether your MVIPF was viable
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