Archive | October, 2020

Have you ever suspected that marketers make secret deals with each other behind the scenes? And that perhaps they will call each other on Skype or Zoom and coordinate activities and launch dates? And maybe they work together on marketing deals, promote each other’s products and work together to maximize their profits? Well, it’s 100% true…

Marketers network and mastermind with marketers on their own level.

Now, if you’re new to the game, how do you break into one of these million dollar mastermind groups?

Unless you have something incredibly spectacular to offer – like some marketing holy grail or something – you don’t. But you don’t need to.

Think about college – you go to school with a group of people. You meet as Freshmen or Sophomores, hang out together, do stupid stuff together, take classes or study together, etc.

After graduation, who can you call to get an “in” at a company, get a lead on an account, get an introduction to somebody and so forth?

Your pals from college, that’s who. You came up together. You’re friends. And of course you’ll help each other out whenever you can.

Marketing works the same way.

Find people on your level – marketers who are on their way up. Make friends. Hang out. Have drinks. Talk on Skype. Work together. Bond.

You and your friends will progress up the marketing food chain together.

And there’s your ground floor opportunity into your own million dollar mastermind group – the guys and gals who came up with you through the ranks.

So start networking. Get a team of friends. Work together. Help each other out. Have each other’s backs. Care as much about them and their success as you do about your own.

And in no time, people will be looking at your group and wishing they were you.

No doubt you’ve heard that offering a bonus for other product sellers to give to their buyers is a good way to get a list of customers. And that’s true. If your bonus is good enough that the product seller believes it will increase their sales, they might be willing to let your bonus tag along with their product.

You might need to contact 5, 10 or even 20 product sellers to make this happen. Obviously, the better your bonus and the closer it’s tied to the original product, the higher your odds of getting a yes. Having a relationship with the product seller helps immensely, too.

But there is an easier way to get that coveted “yes” from the product seller, and here it is:

Offer them a complete upsell funnel.

A lot of newer product sellers on Warrior and JVZoo don’t have their own upsells yet. And because of this, they’re leaving a lot of money on the table.

If you offer them a complete upsell funnel and let them keep 100% of the profit, you stand an excellent chance of them saying yes.

Your upsell funnel should include a squeeze page offering a good freebie – this will capture product buyers who don’t purchase your upsell. It also should also include a proven product that converts well.

You can add exit splashes, pre-populated forms, bonuses and trial offers – basically whatever it takes to:

1. Capture the email addresses of the buyers, regardless of whether or not they take your upsell.

2. Makes sales for the product seller.

Using this method, you can add hundreds of buyers to your list every week. And as you know, buyers are worth far more than tire-kickers.

Everyone is happy using this model:

– The original product seller is making more money – often twice as much or more.

– The product buyer is getting a good deal on your product.

– Even if the product buyer doesn’t buy your product, they still get your freebie (remember to make it VALUABLE.)

– And you get a list of buyers with very little effort on your part.

For maximum success, rinse and repeat as often as you like.

Let’s say you’re offering a course with 10 videos, 10 corresponding pdfs and 3 great bonuses, all for $47 – and you want to make that $47 seem like an absolute and total bargain price. How do you do it?

By giving your customers a choice right there on the sales page, the check-out page or preferably both.

Here’s how to do it:

Strip your package down to a much smaller one.

For example, 10 videos, no pdfs and no bonuses. Or 10 pdfs, no videos and no bonuses. Whatever works.

Offer that smaller version for $37, or $39, or even $45. You might want to test this to see which one works better.

Have the smaller version right there next to the big version for $47.

Let them know they have a choice. Of course, you recommend the full $47 version, but it’s up to them.

This is a variation of decoy pricing which typically uses 3 prices to sway buyers into purchasing a particular item.

With the slightly lower price giving them so much less, your regular price looks much better.

Also test having a higher price with not much more benefit.

In this case, it could be $67 for a slightly bigger package. That might increase sales of your regular priced product as well.

Remember to test, test and test some more to see what works best.

Curious about the 3 price decoy effect?

The most famous example is pricing used by the Economist, and later by many other magazines and newspapers.

The Economist offered an online subscription for $59, a print subscription for $125, or an online and print subscription for $125.

Naturally, this greatly boosted sales of the third option.

How can you apply this proven strategy to your business? I know you can find some creative ways to do so and boost your sales in the process!

Okay, so you’ve hopefully got your core business online, or you’re about to put one online. You have it up and running, making money… Now what?

First things first – figure out how to make MORE money in the business you already have.

How do you get more customers?

How do you sell those customers more stuff?

And how can you charge more for what you sell?

This is basic and should always be your focus. The more value you give, the more money you typically make. Give more value and you can charge more and sell more.

But what about the ‘fun’ part?

That’s a matter of trying stuff out.

Buy new stuff on Warrior and JVZoo. Read the case studies. See the new techniques someone’s dreamt up.

Pick and choose stuff to try and then just try it. Don’t devote a week to it – it might not work. But devote a day or two and see what results you get.

That new thing that everyone is doing? Pick a topic (or whatever needs choosing) and outsource it. Or if you can do it yourself in a day, go for it.

Is it promising? Keep going.

Does it look like a loser? Good – you just found something that doesn’t work for you.

Either way, if you always look at it as experimenting, as having fun, as trying new stuff and seeing what happens, then you’ll never take it too seriously.

You won’t get stressed. You won’t smash your head against the desk when you realize the last 24 hours taught you nothing more than how NOT to do something.

Because you’re having fun.

And when you do strike on a winner, sha-ZAM!

Rinse and repeat and you’ve got another money making avenue in your online business.

Smart marketers are not limiting themselves to the English market. Instead, they are taking their best selling products and getting those products and the associated product funnels translated over to French, Italian, Spanish, etc.

Here’s how to do it:

Unless you’re really sure you want to invest the money, do NOT go with a professional translation service because the cost will be too prohibitive. Not to mention their translations can be too dry and boring to be effective, especially on the sales material.

Instead, find someone on Upwork or Fiverr who is fluent both in English and the language you’re translating your work into. They must be fluent enough to thoroughly know the slang and colloquialisms of that language.

Have them translate the product, the sales letter, the emails, the squeeze page, etc. Also have them translate a month’s worth of PPC ads to bring in new subscribers to your funnel. You’ll want a month’s worth because it can take you that long to test and tweak your ad campaigns.

Then retain that person with a small monthly fee to handle all customer support emails for you.

Rinse and repeat with another language.

No Products of Your Own? No Problem…

Negotiate with product owners for the rights to sell their products in other languages. You might pay them a flat fee, or a percentage of sales after your initial expenses are recovered.

You could build an entire business doing this one thing – getting licensing rights to popular products and translating them to various languages.

And if you’re fluent in another language, then you don’t even need to hire a translator if you’re willing to do the translation yourself.

Your very best products – the premium stuff making you the most money – is worth even more than you think it is.

Let’s say you’ve got a successful membership site. You’re charging $20 a month and you’ve got 300 subscribers. That’s $6,000 a month you’re bringing in, before expenses. Obviously you’re doing well with that, right?

So what do some marketers do? They make an info product teaching how to do this very thing. How to set up the site, how to get the outsourcers to create the content and how to get subscribers.

And they charge maybe $9 or $17 for a Warrior Special Offer or JVZoo offer on this product. That’s one way to go.

But there is another method – one that generally makes more money with less hassles, and it’s this:

Make a premium offering.

Let’s face it – there are significant advantages to attracting $500 customers over $10 customers in the online marketing field.

A $10 customer tends to be skeptical. They need a lot of convincing because they’re pretty sure nothing works. That’s because thus far, they haven’t met with much in the way of online success.

And when they buy your $10 program, they often need help. A typical query: “How do I take payments?”

You: “Have you heard of Paypal?”

Your customer, “Sure, but could you walk me through on how to set that up?”

A $500 customer, on the other hand, tends to be on an entirely different level. They’ve likely already experienced online success, which is why they can see what you’re offering works.

They don’t have as many questions. And they know that any basic answers they do need (like how to set up a website, or Paypal) can be found online, rather than expecting you to do the work for them.

It’s paradoxical, I know.

A $10 customer needs $100 worth of your time. Or more.

A $500 customer generally doesn’t need help. But even if they do, you don’t mind spending the time with them because they’ve paid you good money.

So to get back to my original point, don’t sell your knowledge short.

Packaging your know-how and experience into a $10 product may lead to more frustration for you than anything else, even if you do have a great upsell.

Since, in this example, you’ve got a membership site that’s doing well, you could:

1. Offer to build them a similar but non-competing website, complete with 6 months of content.

2. Offer to coach them one-on-one on how to build their site themselves (far more valuable, since they will then own the skill).

3. Work with membership site owners to get their subscribers up to a certain level.

And so forth.

And for any one of these things, you can easily charge $500 – $2,000. Get 10 customers at $500 each you’ve just made $5,000.

To make that same money selling a $10 book or program, you’d need to sell 500 copies, assuming you make all the sales yourself without affiliate help.

Now then, how about getting the best of both worlds?

Create the inexpensive product and sell it without any personal coaching. Make this clear – they get the information, but you’re not holding hands for 10 bucks.

If they want personal help, you can offer that as an upsell. And if they’re truly serious, you can offer one of the above three options at full price as well.

Of course, the $10 and $500 is arbitrary. You will set your own prices as you see fit. For example, setting up a full membership site with six months of content is obviously worth a great deal more than $500.

As long as you’re not setting up direct competitors to your own membership site, you can do this every single month if you like.

Using this method alone, you can easily double your income.

Membership sites are just an example. This works no matter what you’re doing online that is making you good money.

Which of these two products would you most likely buy: “How to sell stuff using Facebook ads”… Or: “How to make 461 affiliate sales totaling $8,384 in commissions in the next 72 hours using $112 of Facebook ads”? The second one, right?

How about these two…

“How I lost weight”

Vs

“How I lost 93 pounds in 6 months and went on to win 2 bodybuilding championships at the age of 42”

Of course, it’s the second one that gets your attention.

Why is that?

Because the second titles are exact and precise, which is exactly what people buy.

Vague isn’t interesting. It isn’t sexy. And it doesn’t make sales.

To be clear here, we’re not just talking about having great titles. That’s crucial of course, but so is this:

Base your products around just ONE main promise.

Compare these two:

“The complete, no-holds-barred, definitive encyclopedia on Facebook Marketing”

Vs

“The 3 step formula to selling almost anything on Facebook and making a profit within 24 hours, guaranteed.”

The first one presumably covers everything you could imagine about Facebook marketing.

The second one makes a single, precise promise.

Guaranteed, the second one will outsell the first one 10 times over or more.

Choose one thing and cover it in depth. This is what makes sales. It’s easier and faster to make this type of product. It’s simple to explain in your sales material. And it’s a no-brainer for the customer to grasp.

They know exactly what they can expect, which makes it far easier to get the sale.

And best of all…

…let’s say you’ve got a book/program/software that covers or does a whole range of stuff.

If you break that product down into ‘one promise’ products, you will have more products to sell, and you will sell more of each product.

You might want to read that last sentence again, because it is a million dollar piece of marketing advice if you understand and implement it.

Make the title of your product a single promise. Then go deep, not wide. Rinse and repeat.

Using this method you can crank out a product a week instead of a product every month or two. Frankly, if you work on this full time, you can do even better than that.

And you’ll actually sell more of each product. Paradoxical, maybe. But it flat out works.

One last example:

You’re building a WordPress plugin that does everything but the kitchen dishes.

Stop.

Break that plugin down into several small plugins, with each plugin delivering on a single promise.

Your marketing just became easy as pie.

Your sales letters and videos will practically write themselves because it’s now so simple. People will better understand what you’re offering. And you will sell TONS more.

Okay, I’ve harped on this enough.

One promise products – be specific – go deep, not wide – rinse and repeat.

The National Aquarium of New Zealand once reported that Inky the Octopus escaped. The smart 8 legged creature squeezed out of a small gap at the top of his tank, slithered across the floor of the aquarium and used a sea-water runoff pipe to make his way to Hawke’s Bay, and on to freedom.

Octopus are known to be very intelligent and curious, and enjoy pushing boundaries.

If you can, imagine you’re Inky, trapped in that aquarium. You remember what it was like to be free in the ocean, and your big goal is to return to that ocean.

So you study your surroundings. You learn everything you can about the place. When the human captors are watching. When they’re not watching. Where the possible escape routes are.

You notice that water always runs to that small hole in the corner. You think about that – where does the water go? Where does all water go if you’re an octopus? To the ocean, of course. And as you study the situation, you devise a plan to win your freedom.

Then when the time is right, you make a very daring and risky escape.

Remember, you don’t know for certain where that pipe goes.

You don’t know for certain you can make it to the pipe. After all, you’ll be out of your element. You won’t be able to breathe properly again until you get back into water.

You’re taking a really big chance. It would be safer to just stay in the aquarium, eat the free meals and spend the rest of your life lounging about like a lazy couch octopus.

But not you. You want more out of life.

You push up against the heavy lid on the tank and manage to just squeeze out.

You slither down the outside of the tank, across the floor through an element that is totally foreign to you – air.

You reach the pipe. Little do you know that pipe is as long as 5 football fields and full of the foulest smelling stuff you can imagine.

But you don’t stop.

You. Do. Not. Stop until you reach your goal – open water. The ocean. Freedom.

And yes, it is believed that Inky did indeed make it all the way back to the ocean in his daring night time escape.

Now imagine you’re an entrepreneur.

You have a big goal (or at least hopefully you do).

Just like Inky the Octopus, you study the terrain and formulate a plan. You rehearse it in your head. You know you might encounter obstacles along the way, but you have confidence that you’ll deal with those as they come up.

It’s time. You’re nervous and scared, but you’ve got the guts to go for it.

And once you launch, there is no turning back. You are now on your way to something bigger, better, scarier and a whole lot more exciting.

That sure beats watching reruns on TV or going off to a J.O.B., doesn’t it?

5 lessons from Inky:

1. Have a big, daring goal.
2. Learn everything you can that will help you achieve your goal.
3. Formulate a strategy.
4. Fear is just a word. Do it anyway.
5. Execute your strategy like your entire future and your very life depend on it.

Can’t you just see Inky emerging from that pipe into the bay?

Imagine how happy he must have been. From there it was a relatively short, joyful swim to the ocean and total freedom.

Way to go Inky!

And when you reach your big goal, way to go YOU!!!

That’s the question posed in an online forum recently. Answers ran the gamut of the spectrum, but here are the 28 I found especially helpful, in completely random order…

Become financially educated. Read personal finance management books, starting with Rich Dad Poor Dad. Learn how to budget and how to invest.

Live frugally. If you’re thinking you can’t save more of your money, take a look at homeless people who live on almost nothing. Yes, you can save money. Stop eating out so often. Cancel the cable. Don’t buy a new car. Don’t buy a new used car until you absolutely need one.

Always pay yourself first. Devote the first 10-30% of your pay to savings and investments.

Spend money on assets (real estate, stocks, bonds, etc.) not liabilities (everything that loses value the moment you purchase it). Thinking of buying a new car even though your old one is fine? Take that money and invest it in your business, in stocks, in real estate or something that is an asset. Then buy a good used car in a few years, when you really need one.

Don’t care what people think of you. Your neighbors think you’re poor because you don’t buy new cars? Little do they know that $20,000 you would have spent on a car is now earning you a 10% compound interest rate.

Invest in yourself. Self-education equals new knowledge. Add execution to that new knowledge and you get results. Repeat continuously.

Find ways to help as many people as possible. The more you can help others get what they want, the more money you can make.

Scale. Don’t render services when you can mass produce products. Better to make a $10 profit on a million sales than a $1,000 profit on 100 sales.

Stuck on services? Go upscale. If you’re going to render services, find the niches that pay the most.

Have multiple streams of income. This way if something happens to one, you are still in good shape overall.

Sell stuff. Lots of stuff. Hire others to help you, so that your earnings are no longer tied to your hours.

Always keep the return on investment in mind, whether your investment is time or money.

When you want to buy something, figure out how to make the money. Don’t take money out of your savings to buy a car or a vacation. Instead, figure out how to make the extra money needed to cover the new expense.

Be friends with people who have more money than you. Their mindsets and thought processes will rub off on you. That said, do not try to compete with them – keep the car and house you have now, at least for awhile.

Leverage your abilities to their fullest extent instead of working harder to get ahead. Forget working hard and focus on working smart. For example, a personal coach can create a course and sell it for $297 a million times over, but can only coach a few people one-on-one at any given time.

Take calculated risks. Failure is a part of the journey. If you’re too afraid to fail, you will never take the smart, calculated risks needed to become wealthy.

Use your head more than your heart. Make your financial decisions based on provable fact rather than gut instinct.

If you have a business, work ON it, not in it. Your labor isn’t needed to make the business a success – your ideas and leadership are.

Things like sports and entertainment are simply distractions for the masses. While you’re watching sports and shows 2-6 hours a day, the rich are making million dollar contacts, doing deals and starting businesses. If you get more of whatever you focus on – maybe it’s time to stop focusing on distractions and start focusing on your finances.

Bad decisions are better than no decisions. Any decision that moves you forward is better than total inaction. The key is make decisions quickly and work until you get results.

Confidence and belief in your ability will take you further, faster. The higher your confidence and the more you believe in what you’re doing, the easier it is to bring others on board, to convince buyers and to make money.

Having a lot of money doesn’t change life as much as you think. It’s not a magic shield from illness, tragedy or loss. You’re no smarter for having it (although perhaps wiser if you made the money yourself.) You still have problems, although they might be an entirely new set of problems. On the plus side, you never have to worry about putting food on the table or paying bills, which frees you up to think about bigger things.

People will look at you differently when you are rich. The upside is they respect you more. The downside is most people will want something from you.

It’s best to not flaunt your money, but instead put it to work to make more money. Many millionaires drive beat up cars and live in perfectly average homes. Few people know they are rich and they like it that way.

Don’t buy stuff you don’t need. Rent it, borrow it or do without. And don’t carry a balance on credit cards. Ever.

Never borrow money to make discretionary purchases. Only borrow money to make money.

Start with the end in mind. If you’re starting a company, from day 1 ask yourself what to do to make your company as valuable as possible so you can one day sell it for millions.

Lastly, having money is power. Power to help any charity you choose. Power to help anybody or anyone. Power to make positive changes in your community, positively impact the lives of others and make the world a better place.

…how could you do it?

I’ve come up with not just one, but potentially 4 different ways to make a million dollars in 12 months.

Not an easy task, but it’s certainly possible. And if you only do 1/10th as good, that’s still $100,000.

First, before anything else is even considered, you need to find yourself a very important reason WHY you want to make a million dollars in 12 months.

The stronger your reason, and the more often you play out that reason in your head, the better your odds of achieving your goal, regardless of which method you choose.

Now then:

Method 1: The Chris Sacca Method

Chris initially became a millionaire by leveraging $10-20 thousand dollars into 12 million dollars by taking advantage of a flaw used by online trading brokers.

When the market crashed, Sacca found himself $4 million in debt. He negotiated to have it reduced, and then paid off the balance in no time.

So how did he earn his next millions? That’s the method I’ll cover here.

Of course, if you do happen to find a flaw in online trading software that you can take advantage of, terrific. Otherwise, you might try copying Chris’ second method:

Sacca created a fake company, complete with a great looking website and business cards.

Frankly, your company doesn’t have to be fake, it can simply be new. Make sure you choose an impressive sounding name like the Sadlias Group.

Now get tickets to every networking event in your field. Go to these events and network like crazy, making contacts with entrepreneurs.

Look for people who want to change the world, and find ways to help them make that change.

Introduce yourself and – get this – offer to help them out for free.

That’s right, for free. Do you want to stand apart from everyone else at that event? Do you want them to remember you, contact you and work with you? Offer to help them for free.

Using this method, Sacca became one of Twitter’s first four investors.

Even if this method doesn’t make a million in a year, it will make your life interesting, exciting and highly relevant. You’ll find outstanding mentors to help you along.

And you’ll make contact with investors who can back you when you decide to start your company for real.

Take notes along the way, so when you do make your first millions, you can write your tell-all book letting people know the inside story of how you did it.

Method 2: Day Trading

This is a great way to make money fast. And it’s an even better method to lose money even faster.

You’ve got to be good. You’ve got to know what you’re doing. And you’ve got to leave all emotion and ‘gut instinct’ behind as you follow proven, trusted methods that work.

Frankly, it can take you 2-3 years of daily practice just to get good at this.

Then again, you might have the capability to make a million in the first year. It is completely possible, just not highly likely.

If you choose this method, invest in the best education and hundreds of hours of practice trading.

Your best shot: Start with $10,000, margin it to $30,000, and find 180 trades that will return 2% or more in 1 to 2 days.

Easy? No. Doable? Possibly.

Method 3: Sales Funnel

Build the best sales funnel you can – everything from a free product to get subscribers onto your list, to a $10,000 product you sell to your best customers and everything in between.

Think about this: To earn a million dollars, you can sell any of the following:

– 1,000,000 products for $1 apiece
– 100,000 products for $10 apiece
– 10,000 product3 for $100 apiece
– 1,000 products for $1,000 apiece
– 100 products for $10,000 apiece
– 10 products for $100,000 apiece
– 1 product for $1,000,000

Look at Dollar Shave Club and you’ll see they’ve chosen the first option on this list – selling a $1 product to millions of guys.

But if you have an effective sales funnel, you can take those $1 customers and upsell them to your $10 offer, your $100 offer and so forth.

Once you start selling $1,000 products, it no longer takes massive sales to reach that magical million dollar mark.

Things to remember – focus more on what people WANT than what they need.

Sell them the way they want to be sold.

Make the entire experience fun and easy for the customer.

Whenever possible, find ways to make your messages go viral, even if there is no immediate pay off.

Your primary goal is to get as many qualified people onto your list as possible.

Your next goal is to move them up the sales funnel by always giving them great value for the money.

Do these two things and your final goal of making a million will take care of itself.

Method 4: Sales

If you’re already good at sales, or you can acquire sales skills fast enough, AND you have the right product to sell, then you can make a million dollars in a year.

Obviously you want to sell very high ticket items with lots of commission. And of course already having a sales background will be a tremendous help, if not a necessity.

If you want to take this route and you’re willing to wait two years, it becomes much more likely you will succeed.

Spend the first year becoming great at sales. Study sales techniques, get a great mentor, work in sales 10-12 hours a day.

And during your first year, find out what kinds of products pay the most in commissions. Make contacts in those industries and get yourself a job where you can make the most money.

Then spend your second year making that money.

It will take plenty of hard work, but it will be worth it.

Method 5: ??

These first four methods should get you thinking.

And maybe, just maybe you’re got an even better idea.

Like creating the next social network, winning the lottery, doing one million dollar deal… there are plenty of ways to make lots of money.

The trick is to pick the one that works for you, and then work it tenaciously until you succeed.