If your’re a parent, or you’ve ever had a parent (I guess that’s most bases covered?) you’ll recognise this threat. Well I’m making it now. Frankly you’ve got obsessed with marketing tech over the last couple of years and it’s time to get your face out of that screen and learn to pick up a… Continue reading
If there are two big opportunities to sell that most businesses miss, one of them is after you’ve just got a result for them. We know that. Most businesses forget to close the loop and move customers back into the sales loop. Maybe they don’t have a follow-on product to solve whatever the next problem… Continue reading
The biggest reason for failure I see with people launching online courses is that they hit the wrong point on what economists call “supply & demand”. The ideal place to be is lots of demand, but little supply – making you the only viable option for your prospects. It’s a hard place to find, but… Continue reading
Discover demand, competition, and typical earnings for your video course – before you create it.Continue reading
Way back in 1989 – a full year before the invention of the World Wide Web, a lanky 18 year-old walked into a bar and landed himself a job for the summer holidays. The bar was the busiest tourist pub in Oxford. A three storey, three bar building by the River Isis, within walking distance… Continue reading
See that receipt? That’s a £3.39 coffee. Trapped at a motorway service station with no option other than the bitter, scalding cups of tar served in McDonalds, these guys had jacked up the price by a whole £1 over what they usually charge. My reaction? A tut, a shake of the head, and hand over… Continue reading
If website traffic was cake, SEO would be like the cherry on the cake. Not the cake itself. The “cake” is traffic that you can control, that you can turn on and off at will, that you can get started quickly, and that you can keep testing until you have a process that at least… Continue reading
Way back in the early 2000's I had one of the best initiations into learning about online conversion that there is, running a 7 figure business that relied entirely on affiliate commissions.
I was building a 2 million-name email list, and profited from it only when I made a sale or a lead for one of my clients.
I ran deals in online retail, market research, gambling, travel, just about anything. We had a huge pool of data on each of the contacts on our lists and would be sending out multiple targeted emails campaigns each day across the list.
There's no better way to learn what does and doesn't turn traffic into sales.
But one of the biggest lessons I ever learned was from a side project I set up after a night out.
Much of the UK affiliate industry back then ran at “Get Togethers”. Basically an agency would put up a four figure bar tab, invite the advertisers and publishers along, and a lot of business would get done.
Near the end of one of these events, a slightly inebriated PR agent for Ann Summers let slip that they were releasing a new version of their famous Rampant Rabbit vibrator.
I managed to secure a suitable domain name, threw up a single page website with some images she gave me, and got it ranked #1 in Google for the product name, ahead of its launch. (don't bother asking how I did that bit, this isn't a lesson in SEO, and in any case it wouldn't work today).
The product was released and I started making consistent commissions from people who had visited my site and bought the product.
£5, £5, £5, the payments dropped in hour after hour and I was pretty pleased with my results.
After about a week I got a call from the head of marketing at one of Ann Summers competitors who told me they had the exact same product, from the same factory in China, price £5 less and with a free shipping offer. They couldn't use the “Rampant Rabbit” brand but it was obvious this was the same product.
I tweaked my site and started sending half my traffic to them. What happened next was an absolute eye opener.
The commissions were all over the place.
£1.12, £9, £23, £3.22. The numbers were all over the place, but I was making way more money off the exact same traffic.
I called my contact at Lovehoney, and he wasn't surprised.
“Yeah, we're a bit cheaper to start with but we're way better at selling other products, and getting people to come back again more often”.
That was it.
They'd just focussed on making each sale bigger and making the sakes more frequent, and they were killing it.
All the fluff that Ann Summers had given me about “the strength of their brand” wasn't enough to compete with these guys.
The “MAPPED Method” contains a breakdown of exactly how Lovehoney had set themselves up for success against the only high street brand in their sector.
If you want to know more about how to build a rock solid marketing foundation for your business, get yourself on the VIP list when “The Mapped Method” opens up.
Another question from one of my Foundation Funnel customers.
“My funnel is in place, thanks to your help, and I have a product that is making a bit more than breakeven on my Facebook ads. What do I do now? Start testing and optimising, or scale up the traffic?”
Now I know this guy really knows the answer, he’s just scared to start spending ad dollars on something that isn’t making the kind of returns that the Fartbook gloaters are claiming.
So, forget about them.
You’ve already done a great job getting to breakeven. That’s hard.
Without a lot of traffic it can take a while to make decisions and adjustments, but you can make those changes without watching a ton of money go down the drain while you do. And you can make changes without or stopping and starting your campaigns like a beaten-up old car.
At every stage of your business growth you need traffic. That volume will allow you to test and make changes, pushing up the dial of profit as you find winning formulae, and adding more product to your ecosystem.
Now is the time to scale up, and if you’re worried, think of this.
You’re not buying leads any more, you’re buying customers.
Stop thinking your customers aren’t profitable. They are. It’s your campaigns that aren’t making money.
You need fewer bad leads and more good ones, and when you have customers comeing in, you’ll start to know what good leads look like.
It's like panning for gold. You get better at shifting the dirt, and better at spotting where the gold is.
Less dirt, more gold. Both ways work.
You’ll be building up more and more buyers that you can use to find what a good customer profile looks like, AND to sell your next product to – at almost zero cost.
So get on with it.
As soon as you're breaking even, get off the fence and start buying all the customers you can.
If you’re still struggling to get your first product to breakeven though, you need a simple route to turn your prospects into buyers.
You’ll find it here:
How much should you charge for services, and when?Continue reading