How To Deal With Slow Sales
Recently a few of my Publishing Partners have been getting frustrated by their slow progress. But that is because they are working on big projects that will pay HUGE dividends later.
They need to understand the “sow now and reap later” mentality of businesses that have an element of product release to them. Much like a movie theater saves up their big lockbuster for Memorial Day weekend, you might go through some lean times as you await the big payday.
So to set the scene, again, a couple of my partners are frustrated that they aren’t hitting their weekly revenue goal. And this is my fault, because I shouldn’t have given them a weekly revenue goal to meet. That puts their focus in the wrong place. So I sent this email to correct the issue:
DEAR TEAM,
After reviewing your current updates, and reviewing some of your frustrations, I wanted to follow up and show you how to turn these problems in opportunities and optimism.
First, I have to admit that your frustrations are in a large part due to my recommendation of focusing on short term weekly goals.
In certain situations, the weekly plan & money goal can help.
In others, the way it is for most of you, it can actually be depressing and frustrating.
And worse, it causes you to chase too many “charity promotions”, a BIG time waster that we touched on at our Miami Mastermind meeting.
So, here are a couple of things we need to change:
1) No more “weekly” monetary goals.
2) We will keep the monthly monetary goals.
3) This allows you better BIGGER picture planning.
This way, you aren’t promoting “one-off” events that are not only a waste of your time, but a waste of goodwill for both you and the person you are promoting.
Remember…if the only exposure that people have to “Bob the Trainer” is a one-day hard affiliate promotion his product, not only will they be disappointed with you, but they’ll be already jaded against him.
4) This monthly planning will allow you better FOCUS on what really matters.
5) Please follow these rules for future promotions:
a) If you’re not going to mail THREE times for the promo, don’t mail for it at all.
b) If you’re not willing to create a bonus for it, then reconsider your participation in the promo. You do NOT have to create a bonus, but use that as a measuring stick – “Would I go to the effort to create a bonus for this if I had to?” If NO, then do not promote.
c) Ask yourself, will this promo matter in 3 months from now?
d) Set a minimum money goal for each promotion. Let’s say it’s $300. You have to be sure that the promotion will help you at least hit that #. If it’s not a sure thing, or an important GOODWILL promotion, then don’t do it.
(GOODWILL promotion means building GOODWILL with a potential significant affiliate.)
6) Bottom line: I’ve failed as a teacher and let you spend way too much time writing emails for bad promotions. That’s my mistake and I won’t let it happen again.
(PS – Remember what I taught you about Opportunity Cost in Miami.)
Many times it is just not worth your effort to write the email.
You’re better off kicking back in a chair and reading a book.
7) Finally, ALL of you have big promotions coming up in the next few months.
Do NOT destroy affiliate goodwill by having them promote a lesser product now.
Save up all that GOODWILL and get them fully committed to your BIG launch.
Big launch coming for this little guy. Your BIG launch is what matters.
Not the 5 sales you might send to a $7 product now.
Sacrifice the short term sales now so you can have ONE big
sales event later.
Don’t waste the BIG Launch opportunity you have.
In Summary:
Direct ALL of your energy to your launch and to BIG planning.
Once you have your launch done and all those new customers, only then should you start thinking about weekly numbers.
I apologize for putting you down a rabbit hole with the weekly goal.
But it’s better that we learned the lesson now rather than later.
***
So…
1) Plan BIG.
2) Launch BIG.
3) Promote BIG.
Otherwise, relax.
Focus on what matters and what will really move the needle,
Craig Ballantyne
Concentrate on what counts.