big life/marketing lesson: how NOT to build a profitable funnel

absolutely gem of a marketing (and life) lesson, you’ll get a lot out of this one.

However, first – and the reason will become apparent in the ‘marketing & life lesson’ – a quick heads-up on an oversight of mine:

You’ll remember me mentioning Walt Bayliss’ ‘Repwarn’.

well, the name itself is a bit of a ‘mistake’ (IMO)

I first thought this was all about ‘reputation management’

Well, RepWarn is so much more than just that!

When you look at the case-studies and testimonials on the sales-page

… you’ll notice that Repwarn is a bit like ‘Google Alerts for EVERYTHING (on steroids)’ …

… which is of course where you should be getting very excited!

This is – amongst many other uses – an awesome lead-gen tool!

(I know Walt reads these emails … Walt, why did you not tell me this? as in: LOUD, when I was obviously not listening!;-)

ok, kidding aside:

no matter what you’re doing online (and even offline), if you have prospects who talk online about your products or services, or even just the problem they’re facing, this tool is an absolute goldmine!

E.g. Alex does a lot of ‘manual prospecting’ and market research for me … now his job is a million times easier!

(market research, creating hot offers, building funnels, all that stuff is based on knowing what’s going on in people’s heads … so you can continue that conversation. With this tool, you can!)

If you’re doing any sort of MLM, my word, can you see how being able to tap into people’s conversations and being the first one to respond is pure gold?

Similarly, if you’re doing any sort of forum-marketing, join group-discussion etc, again, you’re the first one in with a good answer

The list goes on …

anyway, might as well lock in the launch-special price before it goes away later on tonight

Btw, John asked me if you can add your own sites to monitor to the tool, and Walt tells me it’s coming!

onto the ‘marketing & life lesson’

so, remember how yesterday I said I *was going to* send you something about a Perry Marshall webinar, but then didn’t?

Here’s what this is about, and the lesson to be learned:

Let’s start with the email I had already written:
(make sure to read all the way through to the end, because the content of the email I would’ve sent is no longer up-to-date!)

———————————————————————-
Subject line:

[ABSOLUTE MUST-HAVE] GREAT Perry Marshall webinar

Body copy:

just signed up to a paid Perry Marshall webinar called ‘Pivot’:

perryPivotOrder

and this is outstanding for 2 reasons!

a) the content itself:

As Perry says on his site:

If you need to wow your audience with compelling offers on a consistent basis, and you need to do it as quickly and efficiently as possible…this is the best $29 you’ll ever spend.

Basically, it’s about making your ‘thing’ stand out … so people pay attention, instead of bouncing off your site or ignoring your emails.

The webinar is tomorrow, and there’s a replay in the members’ area:

https://m171.isrefer.com/go/pivot/eleuth/

b) turns out, going through Perry’s funnel is a GREAT marketing education in itself!

first, when you go through Perry’s mini-funnel, you’ll see two very interesting things definitely worth testing in anything you do.

secondly, when you then watch the ‘upsell-videos’ there’s a ‘holy-&#$%’ moment: one of the best uses of “why you need this now”. EVER!

anyway, like I said, it’s tomorrow (Thursday), so make sure to get in now:

https://m171.isrefer.com/go/pivot/eleuth/

Cheers & see you on the call (I’ll be there, already blocked the time on my calendar;-)

Veit

PS: send me your receipt, and I’ll hook you up with a quick video showing you why it’s such a ‘holy-&*&%$’ moment and how you can/should use that in your marketing.

 

—— END OF BODY COPY/BEGINNING OF CASE-STUDY/LIFE-LESSON——

Now, just by chance I checked, and it turns out Perry only pays a 10% affiliate commission for this product.

That’s $2.90 on a $29 product.

Meaning: everybody on my list would have to buy 2 copies to make this economically viable for me.

as in: there are tons of other good quality programs out there I can recommend and get much higher EPCs (earnings per click), whilst serving my list/your needs…

… or I could spend my time much more profitably creating a new product …

… or I could talk to my mentor …

… or I could read a good business book ….

and so on.

all of which would’ve been a better, and more profitable use of my time.

So, lesson #1 (and this is a ‘mindset’ one):

ultimately, one of the ‘best’ types of traffic is ‘endorsed’ traffic.

Why?

Because you don’t really have to pay for it.

You just give up a percentage in the form of a commission.

And for e.g. a digital product like Perry’s webinar, well, the cost of delivering to a few more people is ZERO.

Hence: you can only win.

aka: it’s stupid to go all stingy on a front-end offer. (yes, Perry, I’m saying it’s STUPID!)

But: you only attract endorsed traffic if you can provide ‘high enough’, or ‘higher than everybody else’ EPCs.

If you don’t, affiliates & JV partners will go elsewhere.

It’s simple economics.

Or, as many a marketing guru including Dan Kennedy, Glenn Livingston, myself and many others say:

(s)he who can pay the most for a customer WINS!

So, take-away lesson #1: if it costs you NOTHING to deliver that front-end product, heck, why be stingy and only give away 10% as commission?

Why not give them 100%?

Now you might think: “well, if I give away 100% commission, then I don’t have anything left over to pay for my mortgage”, right?

Which brings us neatly to lesson #2:

Ultimately, your job is to create high-ROI *FUNNELS*!

Something where whenever you add $1 in traffic, it spits out > $1 in revenue.

Ideally MUCH MORE!

Part #1 is:
(s)he who can pay the most for a customer WINS!

and part #2 follows:

(s)he who has the best funnels, can pay the most for a customer.

therefore:

(s)he who has the best funnels, WINS!

It’s as simple as that.

(except, as we see in this case-study: it’s not quite as simple as “good offer, good funnel” … you also have to have the right mindset. Unless of course you don’t care about endorsed traffic. In which case the question is of course: why have an affiliate program in the first place….)

End of life/marketing lessons.

[as an aside: I recently saw a blog-post where some rather well-known (A-list) SEO-guys did a case-study highlighting some findings of some recent tests.

and it started with something along the lines: “we did this for a client whose margins are so small they can only stay in business using free/SEO traffic”

if you find yourself in that situation, do yourself a massive favour:

either fix that business and make sure you build a funnel that’s ROI-positive even for ‘paid’ traffic … or shut this thing down and set up another business!

There are literally countless opportunities & ways of providing value and getting compensated handsomely out there … there’s absolutely NO reason to be living in fear of the next Google slap!

(in case you wonder why I’m mentioning this …. I once lost ‘everything’ to a nice lil’ Google slap. Not pretty, but a story for another day;-)

Now, back to Perry and his offer:

I still think it’s a terrific subject, and I think you’ll get a lot out of it, so that’s why I’m recommending it, even though it’s (economically speaking) a stupid thing to do (as I’m not expecting everyone to buy 2 copies;-)

However, it also means that it’s not economically viable to spend quality time on creating the bonus.

So, sadly, the above is FYI only, no bonus, but if you look closely at Perry’s funnel, you’ll find a lot of good things you can/should model in your own business.

I’ll probably turn it into a case-study for funnelassassin.com, so at some point in the future you may just see my take on the genius of the ‘holy-#$%#’ moment…

hasta luego!

leave a comment and let me know what you think!

Veit

PS: ah yes, this was an email … and I had to put it on the blog because of a trigger word. What made the spam-filters so angry?

The word ‘profitable’.

I even had to remove it from the URL of this post!

Anything profitable is interpreted as ‘make lots of money’ these days.

And that’s apparently considered ‘bad’.

Yeah, Warren Buffet, you’re a ‘bad’ man;-)

PPS: Mindset + Offer + Funnel (Use a tool like RepWarn to do some kick-ass market research to build a hot offer & funnel) = WIN!

 

Some of the links in the post above are “affiliate links.” This means if you click on the link and purchase the item, we will receive an affiliate commission. Regardless, we only recommend products or services we believe will add value to our readers.

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