ADVANCED CONVERSION FUNNEL OPTIMIZA OPTIMIZATION TION
(…or, HOW TO BECOME UNBEATABLE IN ANY MARKET)
In the last 36 months we have:
Ryan Deiss Founder/CEO, DigitalMarketer.com
• Invested over $15,000,000 $15,000,000 (of (of our own money) on marketing tests… • Generated tens of millions of millions of unique visitors… • Sent well over a BILLION BILLION emails, emails, and… • Run appro approximately ximately 3,000 3,000 split split tests… ...all in our own businesses.
WHAT MAKES DIGITAL DIGIT AL MARKETER DIFFERENT?
…WE ACTUALLY DO THIS STUFF!
SHOCKING STATEMENT…
THERE’S NO SUCH THING AS A
“TRAFFIC PROBLEM”…
THERE ARE ONLY “OFFER PROBLEMS”
THE CVO BREAKTHROUGH • This realization changed EVERYTHING • It allowed us to get “unstuck” and grow to the next level…
• It allowed us to focus on what matters (instead of shiny objects)…
• It allowed us to declare independence from affiliates and joint ventures…
• And finally, it allowed us win in multiple markets (because this “blueprint” is UNIVERSAL!!)
CUSTOMER VALUE OPTIMIZATION (A.K.A. FULL FUNNEL OPTIMIZATION)
Our Methodology...
THE FIVE THINGS
1
Lead Magnet
2
Tripwire
3
Core Offer
4
Profit Maximizer
5
Return Path
1. LEAD MAGNET
WHAT IS A LEAD MAGNET?
A small “chunk” of value that solves a SPECIFIC problem for a SPECIFIC market that is offered in exchange for an opt-in.
WHY LEAD MAGNETS?
Prospects want immediate gratification and something they can sink their teeth into NOW. Lead magnets give them that...
LEAD MAGNET CHECKLIST " Offers an ultra-specific solution to an ultra-specific market " Promises “one big thing” (as opposed to a lot of little things) " Speaks to a known desired end result " Offers immediate gratification (no multi-day email courses, newsletters, podcasts, etc.) " Moves prospect down a “continuum of belief ” " Has a high perceived value " Has a high ACTUAL value (contains an “Aha Moment”) " Can be consumed in 5 minutes or less
BE SPECIFIC!!! MARKET Investors Forex Traders Bloggers Single Guys Horse Owners Preppers Golfers
LEAD MAGNET “Top Dividend Stocks” “MetaTrader Tutorials” “Appify Your Blog” “The Kiss Test” “Stop Cribbing” “Get a 2nd Passport” “10 Yards Longer”
•
•
•
•
•
•
•
•
•
•
•
•
•
•
SPECIFICIT SPECIFIC ITYY MATTERS MATTERS
THIS IS NOT A LEAD MAGNET…
WHAT’S WRONG WITH THIS LEAD MAGNET?
WHAT’S WRONG WITH THIS LEAD MAGNET?
THIS WORKED BETTER…
TITLES MATTER CASE STUDY: 50,000% MORE SALES!!
Published: 1982 Copies Sold: < 5000
Re-Published: 1998 Copies Sold:
OVER 2.5 MILLION!!!
SPEAKS TO A KNOWN DESIRE…
RAPID CONSUMPTION…
00:02:24
IMPROVE THIS LEAD MAGNET…
WHAT DOES THIS LEAD MAGNET DO RIGHT?
HOW WOULD YOU IMPROVE THIS LEAD MAGNET?
THE PERFECT LEAD MAGNET?
DELIVERING THE LEAD MAGNET…
MORE LEAD MAGNET EXAMPLES…
1. BLIND/BENEFIT-CENTRIC
2. TOOLKIT/RESOURCE LIST
FOR MORE INFO SEE: http://www.leadpages.net/how-to-bribe
CASE STUDY #1: RAPID FILTER BEFORE: # of New Prospects:
6 Per Month
CASE STUDY #1: RAPID FILTER BEFORE:
AFTER:
# of New Prospects:
# of New Prospects:
6 Per Month
6 PER DAY!!
20X INCREASE IN QUALIFIED LEADS!!
3. ASSESSMENT/TEST
FOR MORE INFO SEE: http://marketing.grader.com/
4. QUIZ/SURVEY
FOR MORE INFO SEE: http://mcleangolf.revolutiongolf.com/free-death-move-analysis-tool
5. DISCOUNT/FREE SHIPPING
FOR MORE INFO SEE: http://www.mycostumewigs.com/
6. CHEAT SHEETS/HANDOUTS
7. FREE DOWNLOAD/TRIAL
FOR MORE INFO SEE: http://www.evernote.com/
LANDING PAGE TIP: SOMETIMES LESS (COPY) IS MORE...
“FOOL-STYLE” LANDING PAGE
“FOOL-STYLE” LANDING PAGE - Our Version -
43% OPT-IN RATE (COLD TRAFFIC)
FEEL FREE TO GET “CREATIVE”
55.35% Conversion Rate
54.95% Conversion Rate
ANY QUESTIONS?
2. THE TRIPWIRE
WHAT IS A TRIPWIRE?
An irresistible, super-lowticket offer that converts prospects into BUYERS!
TRIPWIRE CHECKLIST "Low barrier to entry / impulse buy "Easy to understand and explain "Seamlessly leads to the core sale "Useful but incomplete "Has a high perceived value (find their “cheese”) "Has a high ACTUAL value (positive first transaction)
TRIPWIRE TYPES
1. PHYSICAL PREMIUM
2. SMALL BUT CRITICAL
3. BOOK/REPORT
FOR MORE INFO SEE: https://www.newsmaxstore.com/nm_mag/obamacare_911b.cfm
CASE STUDY #2: SURVIVAL LIFE • List Size: 113,636 - ONE PRODUCT ($47)
TURNED A BONUS INTO A TRIPWIRE
CASE STUDY #2: SURVIVAL LIFE • List Size: 113,636 - ONE PRODUCT ($47) • $7 Sales: 9,926 in 30 Days (8% Conversion Rate!!) • 2,536 bought the $47 course!!! TRIPWIRE SALES: $69,482 CORE OFFER SALES: $119,192 TOTAL SALES: $188,674 (from a “dead” list)
SURVIVAL LIFE CASE STUDY - 1000 CLICK SNAPSHOT -
•BEFORE: 1.5% average conversion rate (at $47) •$705 / 1000 visitors •AFTER: •TRIPWIRE: 8% at $7 = $640 / 1000 visitors •CORE OFFER: 30% at $47 = $1,128 / 1000 visitors •TOTAL REVENUE: $1,768 / 1000 visitors (160% INCREASE!!!)
4. WEBINAR
FOR MORE INFO SEE: http://sneakyemailtricks.com
5. SOFTWARE/PLUGIN
FOR MORE INFO SEE: http://www.freshkey.com
6. ALA CARTE SERVICE
http://www.youtube.com/watch?v=da9QGgKR558
CASE STUDY #3: MARKETING AGENCY •
2000 attendees
•
603 people approached booth
•
87 people bought the “tripwire” - $20
•
19 converted to $500/mo. core immediate
•
23 more converted via phone after results
BEFORE: Average 3 new clients per show at $500/mo...
$21,300 mo. Recurring 7 Month Stick
$149,100 200 Trade Shows a Year
TRADE SHOW CASE STUDY •BEFORE: 3 clients at $500/mo ($10,500 LCV) •AFTER: 42 clients at $500/mo ($149,100 LCV) • PLUS: 87 “tripwire” clients that they can followup with via the Return Path
• PLUS: Tripwire sales covered booth costs ($20 x 87 = $1740)
CASE STUDY RECAP • Survival Life Case Study: • 5X increase in total customers • 160% IMMEDIATE Revenue Increase • Trade Show Case Study: • 1437% Revenue Growth ($10,500 to $150,840) • $68,240 in IMMEDIATE Revenue • $82,600 in RETURN PATH Revenue (60 days later)
ANY QUESTIONS?
3. CORE OFFER
WHAT IS THE CORE OFFER?
The core offer is the company’s flagship product or service. This is the offering they are most known for, and most proud of.
THE GOAL IS NOT TO OPTIMIZE
CONVERSION RATES...
THE GOAL IS TO OPTIMIZE
TOTAL REVENUE!!!
FLAWED MODEL
BIG TIP #1
!"#$%!& ("!)*+#, -%.* /+""01
PROOF TRUMPS ALL!! 20% - 80% CONVERSION RATE INCREASE!
BIG TIP #2 ,2342562 %7 (89:6;<
HTTP://PERRYBELCHER.COM/21-STEP-SALESLETTER/
BIG TIP #3 "=:>9?2 @A48 "8B28 0A8>71
RESULTS: CART ABANDONMENT CUT
HALF!! (IN OTHER WORDS...SALES DOUBLED!!!)
OFFER TESTING CHECKLIST " Headline - Write 25 and test your top 5 " Product Deliverables " Graphics (if any) on top of page " Subheadline - Write 10 and test top 3 " Lead - Negative vs. Positive / Story vs. Direct " Guarantee " Scarcity
" VSL vs. Long-Form " If VSL… " Voice " Speed " Volume " Background Image/Color " Autoplay vs. Click-To-Play " Last but certainly not least… Price!!!
ANY QUESTIONS?
4. PROFIT MAXIMIZER
WHAT IS A Profit MaXIMIZEr?
Whether it's an upsell (offering someone more of what they already bought) a cross-sell (offering them a related product or service) or a subscription (offering them access to a club, community or association), every offer needs something on the backend to increase immediate average customer value and overall engagement with the buyer. That, is the Profit Maximizer!
David Sulzer, an associate pro fessor at Columbia Universit y Medical Center
TYPES OF PROFT MAXIMIZERS
1. Immediate Upsells 2. Cross-Sells 3. Slack Adjusters 4. Bundles and Kits 5. Value Buckets 6. Line Extensions 7. Affiliate/CPA Offers 8. Premium Subscription
1. IMMEDIATE UPSELLS
SPEND $1.91 to get a person in the drive-thru EARN $0.18 profit on a $2.09 burger sale PROFIT $1.14 EXTRA on fries and Coke upsell
$1.32 Profit (7.3 times that of the core sale)
CASE STUDY #4: CLEVELAND EQUIPMENT
CASE STUDY #4: CLEVELAND EQUIPMENT • Core Offer (Heat Sealer) - $250 • 40% Profit Margin - $100 per sale • Cost To Acquire (after AdWords costs) - $70 • NET PROFIT = $30 • Immediate Upsell (Extra Elements) - $60 • 100% Profit Margin (Free from the factory) • 50% Take Rate = EXTRA $30 PER SALE!!!
100% INCREASE IN PROFIT ON JUST THAT ONE ITEM!!!
2. CROSS-SELLS
3. SLACK ADJUSTERS
EVENTS & CONSULTING
THE MAGIC QUESTION F GA8B7 #H;I J"KL-*J "48 L4795277MMM
“WANT SOME HELP?”
OFFERING DONE-FOR-YOU CONSULTING ADDED AN EXTRA
$453,000 ...FROM A BASE OF JUST 1500 BUYERS!!
4. BUNDLES AND KITS
5. VALUE BUCKETS
6. LINE EXTENSIONS
7. AFFILIATE/CPA OFFERS
8. RECURRING BILLING
$168,557.55 (a month)
$168,557.55 (a month)
...JUST BY ADDING A PREMIUM SUBSCRIPTION OFFER TO THE BACK OF PRODUCTS THEY WERE ALREADY SELLING!!!
AND THE ULTIMATE FORMULA FOR A CRAFTING A WINNING PROFIT MAXIMIZER IS...
SPEED AND...
...AUTOMATION
1. SOFTWARE/APPLICATION
SPEED AND AUTOMATION UPSELLS IDEAS
2. DONE FOR YOU SERVICE 3. AUDIT/STRATEGY SESSION 4. PRIVATE LABELING 5. TEMPLATES/THEMES 6. SUPPLEMENTS 7.
EQUIPMENT/TOOLS
5. RETURN PATH
WHAT IS RETURN PATH?
Thanks to the lead magnet offer, we now have the ability to go back to non-buyers and put them into a followup series to increase initial conversions. Equally important, we also have the ability to go back to our buyers who didn't purchase everything in the sales funnel (i.e. tripwire, core offer and profit maximizer) to increase the average customer value and overall buyer frequency.
1. CONSTANT STRATEGIC COMMUNICATION
RETURN PATH
2. AUTOMATED FOLLOWUP 3. BANNER RETARGETING 4. CUSTOM AUDIENCE MARKETING
1. CONSTANT COMMUNICATION
IF YOU AREN’T BROADCASTING YOUR EMAIL LIST AT LEAST ONCE A WEEK YOU OBVIOUSLY HATE MONEY!!!
BUT IT’S NOT JUST EMAIL…
2. AUTOMATED FOLLOWUP
3. BANNER RETARGETING
BANNER RETARGETING NETWORKS •
Google AdWords Retargeting
• AdRoll.com •
Retargeter.com
• Fetchback.com • Chango.com • PerfectAudience.com (Facebook)
4. CUSTOM AUDIENCE
CASE STUDY #5: SKIN CARE PRODUCT • List Size: 36,000 • Launching a new skin care product • Ran FB Custom Audience to half the list (18,000) COLD LEADS: $2,563 “PRE-SEASONED” LEADS: $8,839
SALES INCREASE OF...
$6,276 FACEBOOK AD COST $238.13
Whole List Result? $12,000+
SOUND HARD? SOUND COMPLICATED?
IT IS...AND THAT’S WHY YOU WILL WIN!
