Archive | May, 2020

Let’s say you write and sell a fairly successful monthly newsletter. How can you get your subscribers to bring you new subscribers? Or maybe you have a growing membership. How do you get your current members to bring you more paying members? The answer might be as simple as giving your existing members certificates to GIVE to their friends…

In the case of the newsletter, let your subscribers give away 1-6 months for free. Limit the number of gift subscriptions they can give away to keep the perceived value high. Make the gift certificates look like they were paid for by your current subscribers, so that when they give them out, it appears they’re giving a valuable gift (which they are.) This also makes it more likely your subscribers will give the certificates out because there is a sense of pride in the giving of the gift.

When the gift recipients sign up to get their free subscriptions, you can offer them the chance to subscribe for a longer period of time at a reduced rate. Some will accept your offer, others won’t. Those who opt only for the free subscription will receive your offers to renew before their subscription ends. If you’ve provided a great value to them, some will subscribe. And when they do, you can then offer them certificates to give to their friends as well.

Remember, since your newsletter is delivered electronically, it costs almost nothing to give out gift subscriptions. And even if your newsletter is printed and mailed, the cost is still low compared to the number of new subscribers you are likely to get using this simple method. Of course, you’ll want to track your numbers to be sure it’s profitable.

Memberships can work the same way. Let your current members give away limited-time memberships to a small handful of the people they think will appreciate it the most.

You might even do special promotions using this method. For example, you give out certificates in late April for Mother’s Day with instructions to give them to moms who would enjoy the subscription or membership. Or prior to Christmas as gifts, and so forth.

If your membership or newsletter delivers a high value, using your current customers to bring in more customers can be the easiest, fastest and most cost effective way to get a continuous stream of new, happy customers into your business.

Therefore, instead of only thinking about how many of your paid newsletter subscriptions or memberships you can sell, start directing your creative juices to finding ways you can leverage your existing subscriber and customer base’s enthusiasm for your services to start GIVING AWAY everything you have to offer. As you do this, your business and influence can start growing exponentially, and with less overall effort and advertising investment on your part.

Guaranteed, you’ve been on the customer side of this equation. You buy a product and you think you’re going to be directed to the download page. Instead, you find yourself on an upsell page trying to sell you another product.

No problem, you scroll to the bottom and click the ‘no thanks’ link, thinking you’re about to get to the download page.

No such luck. You’re on another upsell page. You scroll down and click ‘no thanks’ again, and you’re taken to…

… yet another upsell page. Now you’re getting irritated. You scroll down, click the ‘no thanks’ button, and you’re finally taken to…

… another upsell page! @#$%&

You’re no longer just irritated, you’re annoyed, mad and even downright ANGRY. Odds are you are talking to your computer and what you’re saying is not very nice.

Who can blame you?

Now then, let’s look at this from the marketer’s standpoint: The more offers you as the marketer can make, the more money you will make.

Today, that is.

But when you make your customers angry, what happens? They remember how you made them feel. In fact, they will remember how you made them feel long, long after they’ve forgotten your product. And the next time you try to sell them something, they’ll decide they’re going to stay far away from your offers because they do NOT want to get caught in upsell hell ever again.

So what’s the solution? Offer ONE upsell. Just one. Then take your buyers straight to the download page.

On the download page, you can offer them another product with a nice discount. You’re not holding their purchase hostage at this point because they’re able to download it. So they’re not going to resent you for making them another offer, especially if they get it at a reduced price.

Then in your autoresponder sequence, you can offer them all the upsells, down sells and cross sells you like interspersed with helpful info, news and so forth.

The bottom line comes down to this: If you want to be a flash in the pan and make all of your money today, use a ton of upsells. No one will buy from you again, but it won’t matter because you’ll be living on the beach somewhere carving coconuts.

But if you want to build a long term business, then respect your customers and never, ever put them through upsell hell again.

First, the bad news: If you’re telling customers that you’re only selling “X” number of your digital product, they’re going to think you’re a scammer.

Think about it. Back in 2000, you could tell people you’re only selling 1,000 copies and they would believe you. But it’s 2020, and people have seen this tactic so many times, they not only don’t believe you – it makes them question everything else you say.

Plus, how shortsighted can you be to limit how much money you make? Let’s say you put out a truly great product, but to create scarcity and make sales you decide to limit either the number of products sold, or the time during which you will sell them.

You make the sales, you pull the product, and your income goes to zero. That could be a big long-term loss for you.

Or worse yet, you claim you will pull the product but you don’t. Or you say you “may” stop selling, but you don’t. Or you stop selling for 2 days or 2 weeks or 2 months, and then you open it up again.

And your credibility goes out the door.

So how do you create scarcity of digital products without losing sales and credibility?

You need to have a legitimate reason for creating the scarcity. For example, if you’re selling PLR, then obviously you can’t flood the market with thousands of copies or the PLR will lose its value.

But most products can be sold forever without causing the buyers a problem. So in that case, what do you do to create scarcity? You use the second method, which is…

… Bonus packages. And the good news: It’s easy, it’s highly effective, and done correctly it can create sales for you for a long time to come.

Here’s how it works:

Go to other marketers who sell products that compliment yours. These should be products that have only been sold and have never been given away. Otherwise they lose their value.

Ask these marketers if you can do a deal: You get to give away their product to your next 50 / 500 / 1,000 customers or all of your customers during the next week / two weeks / month. In return they get a percentage of your profits, along with the email addresses of all the buyers.

Not many marketers will say no to this offer. They get paid for sales they’re expending no effort to make. PLUS they get the email address of every buyer so they can sell them more products later.

And the best part is, you can repeat this as many times as you like, always offering new products as your limited bonuses. Maybe you offer the “XYZ” product to early bird buyers during the first 10 days only. Then during the next month you offer the “ABC” product, and the month after that, the “DEF” product and so forth.

True, in theory you could offer this bonus forever, except that in reality the owner of the product you’re giving away has the final say on how many copies you can give out. And as you tell your customers, you have to follow their rules or you can’t give away any of their product.

See how this works?

Added bonus for you: You’re creating alliances with these product owners. If you treat them right you’ll be able to do more deals with them in the future as well.

Bottom Line: By using REAL scarcity in this manner, you can continue to sell your product for a long time to come. And your customers will respect you for it, too.