Test Subject: List of 1000 targeted subscribers.
Reason For Experiment:
I received an email from an Internet Biz Masters follower yesterday that caught my eye. Here’s the email:
Thank you so much for all the great content you’ve been delivering. You are really pulling out all the strings these days.
I have found myself in a bind and I wanted to ask for your advice. I have rent due next week. Next week as in 7 days exactly. If I don’t make this rent, I am going to be out on the street. I have been late the past 4 months and just haven’t been able to catch up. My property manager isn’t too happy. I need to know how would you go about making $800 in the next 7 days…
I have a list. It’s a small list of 1000 subscribers, but it’s still a list. I haven’t promoted anything to them except a small $5 guide I created months ago.
If you know of anything that can help, please let me know.
Questions To Be Answered:
- Can we make $800 in 7 days?
- What price range product will produce more income in one week?
- Will webinars produce the conversions needed?
- Will a small product launch be enough to reach our goal?
- Is 1000 subscribers enough to make our goal?
How I Plan To Answer These Questions:
After receiving the above email the other day, my mind started racing. There are many ways to make money online, but most of them are not meant to produce short term results. To get money and get money now, you pretty much always are going to have to trade some form of service or skill you possess for the value you are asking for. That sounds pretty moronic and simple, but it’s true.
To help answer the questions being asked, I am going to isolate a small portion of my list. The list will be 1000 subscribers deep just like Paul’s list. He is marketing himself in the internet marketing niche just like me. This will make transitioning my steps very easy for an action plan he may use. If you are involved in other niches, you can do the same techniques I am about to show you.
Here’s how I plan to win this experiment…
Since we are working on such a short life line right now, I really can’t waste any time. 7 days is not much time to create $800 with nothing from the start but a small list that might not react to what I throw at them.
Before ever starting with a goal, I like to know exactly what I’m getting into. Right now, all I know is I want $800 in the next 7 days. Today (day 1), it’s not looking like I’m going to make any money…so, I will utilize this day for planning and preparation. My most important step of any process!
To show you exactly my mind process through this, I want to show you my actual business journal. This is something I write in everyday and have done everyday for the past 3 years. The entire business journal is over 18 notebooks full now. ***Side Note: please write down your ideas at all times!***
From the above breakdown, you can see that selling something at $147 is going to take much less sales to hit our goal than selling a $7 product. How well a $147 product converts is a different question… I have to consider where the subscribers on my list came from. Are they buyers who have already invested in me? Are they subscribers I purchased from a low quality source? Are the subscribers in need of dire help?
If I were only allowed to choose one promotion, I would have to consider these questions much deeper. In this experiment, I’m just going to cover both aspects and offer 2 products. One will be in the low range and the other will be higher priced with much more value though. More than likely both will make me $800 from our small list…
The first product is something brand new that I’ve been improving over the past year. I have been doing coaching for quite some time, but in the past it has been huge ticket prices at $1000-$2000 per month. Last month, I had a special group class setting where I walked through a live example of me creating an authority niche site. It has had huge huge results for the participants. One student has already made $1,400 in his first 25 days.
Anyways, I thought this would be a perfect time to try out my newest coaching program ideas. Remember, I needed a higher priced item to sell…well, this will be perfect. Training groups, coaching programs, and anything one on one is valued much greater than a digital product in most cases. You can provide something like this in nearly all niches that provide digital products.
More on this in my next emails…if you are a part of my newsletter that is…click here to join my newsletter!
Allow me to point out a few aspects of the above email marketing campaign that I feel you should be aware of. I’m literally showing you how I’m going to promote to you over the next couple of days. It’s not very often a marketer explains the promotion scheme to you before using it on you… I am very confident in this method though. I’ve used it countless times and expect to make much more than the hoped for $800.
Email 1 – In this email, your goal is to warm up the reader to the idea of your promotion. You should in no way promote anything in this email. You will be doing lots of soft selling in the next couple days followed by a straight promo. So, you don’t want to over promote and lose on the edge subscribers. If you came to this experiment from an email in your inbox, you have received this email #1.
Email 2 – If you want to create buyers, you must prove to your subscribers you can offer them something of value. Don’t be shy with giving your list the good stuff. The more they like your presell content, the more likely they are going to pay you for your product. I am offering my list a video on video marketing tricks.
As you can see, this content I’m giving them is directly related to my end promotion…the traffic workshop. Video marketing will be heavily covered in the traffic workshop…why not show them my worth by giving them my top video secrets right now. You do this and they will be happy to pay for your system. No promotion here…just free goodies.
Email 3 & 4- More great content that just keeps getting better. A closer an email is to your promotion, the better content you should give. For this email, I am holding a webinar for my subscribers. I chose a webinar because these things convert like mad! They are perceived as high value because you are live talking with these people. They ask you questions and you answer right there in front of everyone. If you know your subject, you win every time with webinars.
These webinars will contain the first promos. To help boost sales and give a sense of scarcity, I have decided to scale my pricing and raise it each day. This will be softly mentioned in the email itself but only at the end. The end of the webinars will explain the traffic workshop completely and show the viewers that if they buy right now, they can get the training for only $67. If they wait till even tomorrows webinar, it will cost them $97…then the day after $147…
This tiered pricing plus the quality content in the webinar will have high conversions.
Email 5 – This email will be short and straight to the point. It will pretty much just direct them to the workshop sales page. I will more than like just create a video…throw it on a page and have a buy button below. Nothing fancy…the email content and pre-delivered value is what sells the product…not the sales page.
This might be different for many marketers, but I hate to sell. I like to over deliver. It’s much easier for me to make money just giving my best instead of trying to convince people to buy from me. Don’t get me wrong, I use the best sales copy I can possibly create and test everything… But, my ideal customers won’t require some fancy sales copy to buy from me.
The above image was my estimation of how it would go. I didn’t know if the list was full of buyers or just prospects so I did two different estimations. Either way, I don’t think it would be hard to get 40 people in a webinar from a list of 1000. You can easily find viewers for a webinar by contacting a few other businesses in your niche.
SIDE NOTE: Don’t think you can do a webinar right now?… You are dead wrong. Gotomeeting.com offers a free 30 day trial. I guarantee if you use webinars in your sales funnel, you will make enough money to pay for the monthly bill.
As the price goes up, the conversions will go down. The straight promo and sales video will convert the lowest more than likely. These are all just estimations from past experience. My list will more than likely react better than this because I have delivered quality content for some time now. The trust has been built with many of them.
Just to make sure I hit that $800 goal, I am going to go ahead and throw in a WSO launch as well. I have been having a great time marketing in this market. I’m very used to the Warrior Forum. It’s very easy for me to relate with the readers from this traffic source.
I’ve launched 3 WSOs over the past 45 days pretty much (actually about 75 days, but took the month of April off for my birthday month hah). These WSOs have revenued over $8,000. This is sick when you think about how little work I have to do to promote. Affiliates pick up like crazy with WSO Pro and each product I launch I add about 300-500 buyers to my list. Each product makes me more and more money too.
As you can see from the image, I am going to keep with the webinars. The day after my Workshop promotion, I will be holding a free webinar on the topic my WSO will be covering. I will launch the WSO at the end of the webinar so that the viewers can get the best price possible. This will be the low priced item. Probably starting at $5 and capped at $9.
The day after an email is sent to the list that promotes the new WSO just in case subscribers missed the webinar. To make things even easier, I will record the webinar and include it in the WSO product. Adds value and kills two birds with one stone.
Following the past two WSO releases, this is about what this launch will produce in the next few days from a list of 1000…
This is extremely low balling it too. But, we want to keep everything in a realistic zone. If this is an important monetary goal for life expenses, you don’t want to over estimate what you can do. It’s a disappointing feeling lol.
This estimation doesn’t include an upsell either. More than likely, I’m going to upsell the workshop. Catching buyers right after they have given you money is one of the best times to ask for more. This upsell will be a special price…maybe $67-$97 dollars instead of the full $147 at WSO launch time. More than likely this will add a few hundred extra bucks in the pocket.
Alright, you know what you want to do…now, it’s time to schedule it out. It might sound like a lot of work right now…webinars, emails, videos, sales pages, products, WSOs, ahhhh!!!! When you actually schedule it out and complete one thing at a time, it’s actually not bad.
Let’s look at what all needs to be done:
We’ve already used Day 1 for planning. Now, it’s time to fill in the rest of the days. Only you can determine how much work will be done in a given day. I have a bad habit of ending up on the boat during these spring/summer days instead of at the office. My employees don’t expect to see my during this half of the year hah. I’m really going to have to buckle down over the next week to get both of these campaigns completed.
Here is a reasonable amount of work for me to do each day to complete the goal (see correlating number in above image):
Day 2 – 1, 2, 3, & 4
Day 3 – 5, 6, & 7
Day 4 – 8 & 10
Day 5 – 9, 11, & 13
Day 6 – 12 & 14
Day 7 – More 14 and probably find some prelaunch reviewers for the WSO.
If you follow this plan, I can almost guarantee success.
Here were my results…
As you can see, we beat our goal of $800 and hit $1066. We asked some questions at the beginning of the post. I can now answer them efficiently…
- Can we make $800 in 7 days? – Oh yea we can! As you can see, we did much better than that and the sales continue to come streaming in. The major benefit is the amount of new affiliates that have been added. They love the webinars.
- What price range product will produce more income in one week? – During the first webinar, I changed my mind about what I wanted to promote. I dropped the high ticket workshops and focused all my sales energy on the new products. I did this mostly due to the fact that I could grab more affiliates if I used webinars to sell the products.
- Will webinars produce the conversions needed? – They converting extremely high. 30% of my viewers purchased one form of the product or another.
- Will a small product launch be enough to reach our goal? – It definitely was. The product price never exceeded $9.
- Is 1000 subscribers enough to make our goal? – The 1000 subscribers gave the product launch and opening webinar enough buzz to get other affiliates excited about promoting the product. Your list will convert the best on your products. Send them to your products first so that your opening conversions are impressive.