Right now I’m (hopefully) on a hard hike in the fjords of Norway with the mysterious Simon Black of SovereignMan.com.
And it’s quite possible we’re having a conversation on the exact same topic you’re going to read about.
After all, it’s something that can help his business – and yours too.
So here’s the $7 “make money-money” system that you can use to unlock stored value and profits. It’s the BIG lesson from this week’s issue of “What’s Working Wednesday”.
First, a bit of background…
In my Turbulence Training business, I’ve created many $19.95 front end offers for my membership site. These all consist of a great offer (3 for 1 deals) that lead into a free month in my member’s area, followed by $19.95 per month if the reader chooses to remain a member.
This was one way />This was one way to leverage my past content creation.
But the membership component reduced front-end conversions and therefore the number of new customers from affiliates.
So I’ve experimented with releasing a few of thesasing a few of these $19.95 offers as one-time sale, no-continuity $7 offers.
(I’ve tested $7 vs $9.95, and there were more order with $7. My colleagues have tested $7 vs $17 and claim there to be no difference in front end orders. Certainly warrants more testing.)
The results of the $7 Sales System?
When running a $7 promotion, you make a large volume of front-end sales.
(TIP: If you’re working with a big affiliate, you might offer them 100% commission to make up for the low absolute commission on the $7 price point.)
But your net profit will be made on up-sells and by selling additional products – first by cross-selling to other solutions, then bundles, then long-term packages.
(Side note: You’ll likely get a lot of international orders, probably because this is the first thing they could afford.)
Main benefits of a $7 “No-Brainer” offer
1) You get lots of new 1st-time customers added to your customer funnel (from both your own prospect list & from affiliates). This is (obviously) extremely important.
As Michael Masterson told me, “A business should spend 80% of its resources on new customer acquisition. It’s the lifeblood of any business.”
2) You profit through strategic up-sells.
Follow this exact step-by-step formula for your sales flow:
Step #1: Main Product + Bonuses
Step #2: “Done-for-You” Automated Upsell
Step #3: Accelerated Results Upsell
Review the 24-7 product launch bonus in the FIM customer area for more details.
3) You will release stored value in currently underutilized content/products that you’ve created. (I simply package up the products delivered on a monthly basis to my members.)
4) You create a new way for affiliates to make easy money because they’ll make dozens or hundreds of sales.
5) It provides the first-step for international clients to Know-Like-Trust you as a customer
6) The $7 sale has a “Customer appreciation” aspect to it… past customers appreciate the low-cost offer compared to all of the other high-priced products that have been promoted to them in the past. They feel they are stealing a deal here.
7) It gives past customers a taste of other offerings & gets them thinking about upgrading to various “All Access Passes” or Lifetime memberships.
The $7 Sales System is a simple way to inject cash and new customers into your business.
And if you believe, as I do, that getting the first dollar from a prospect is the key to long-term profits, then you’ll see the value of this strategy.
Unlock your profits today,
“Everyone lives by selling something.” – Robert Louis Stevenson