Chris Payne introduced the DEPOT Method at the KISS 2 Event held at Gatwick recently and I subsequently had a consultation with Chris which proved very enlightening.
Firstly let me tell you what the DEPOT Method is. It relates directly to product creation.
When you are planning the creation of a product you must ensure that it meets these criteria:
- Desperate Problem – your product needs to solve a desperate problem – a problem that needs solving urgently. To do that, you need to understand what pain people in your niche are suffering.
- Exactly – your product needs to be exactly what they are looking for. As soon as they see it, they say ‘that’s exactly what I want’.
- Proof galore – show that people similar to your prospect are getting amazing results with your product
- Offer is irresistible – when they see your offer, they will think ‘I thought it would cost more than that.’ Show them how they can get the solution within minutes and remove the risk of buying by offering a guarantee
- Time is short – introduce urgency into their decision through scarcity e.g. the price is going up tomorrow/there are only 3 left in stock/ if you buy today you will get an extra bonus.
Chris Payne reviewed my product portfolio and said to me ‘your products are what your customers need but they are not what they want!‘
He said, ‘They won’t sell well because they do not address a desperate problem.’
Initially this came as an enormous shock to me. I have invested a lot of time and effort into creating my products because I believe that they are what everyone needs to create and grow an online business.
Upon considered reflection, I actually agree with him that they are not what people really WANT! Most people want the ‘easy button’ – a fast and easy way to make money online. That’s what most marketers are marketing but when you have purchased as many products as I have (see last post) then you realise that this is a big lie. There is no ‘easy’ way to build a business – it takes work and building your business around a proven model.
We actually need to build a list, create valuable products for your list, build a sales funnel with higher value products and then generate traffic (preferably by recruiting affiliates) – this is a solid way to build a sustainable online business.
So my strategy now is to build smaller front-end products that conform exactly to the DEPOT Method i.e. sell them what they WANT (on the basis of one problem/one solution) and then educate my customers into investing in my other products or coaching to build the kind of business they really NEED – one that is built on solid principles and foundations.