Conversions – The Secret to Success

By Mark / October 27, 2011
Conversion the secret to success

Conversion the secret to successBack in June I wrote an article about product pricing  and put forward the idea that it was probably a good time to reconsider how we priced internet marketing products.

One thing I got wrong in that was that I said affiliates probably wouldn’t want to promote a product that was selling at $8 – $12  I was wrong , some affiliates have woken up to the fact that low cost products can provide good value to their subscribers while at the same time earning them a living.

After all we are Internet marketers and Internet marketing is how we put food on the table.

I was doing some research the other day and discovered that there are several marketers making over $30,000 a month just selling low cost wso’s  These marketers are being very selective in what they promote.

The criteria is generally,

Quality:  Demonstrated by purchasing the product or asking for a review copy and feedback by genuine buyers

Value: generally selling below $17

Conversion Rate:  They look for good converting products 10% is probably the absolute minimum.

Earnings:  They look at $1 + per visitor (many good wso’s are over $1.70 per visitor)

Low Refund Rate:  It goes without saying avoid products with high refund rates.

For me apart from Quality (which goes without saying as we are building  a long term business) the important figure is the Conversion rate , this tells you lots about the product,  a high conversion rate tells you the sales page is good, the offer is attractive and above all buyers are attracted to it.

In practical terms this means that if a marketer sends 1000 people to product converting at 15%  150 will buy,  if the earning per visitor is $1.50  the income will be $1500

Which is the same as:

If the average price is $10 the 150 sales will earn $1500

Now consider sending the same 1000 people to a clickbank page that converts at a rate of 2% (which is good)  you’d need to earn $75 commission to equal the wso offer.

Another major point is that many customers will appreciate that you are finding them low cost quality products instead of promoting the usual rubbish that everyone else is promoting at inflated prices.

Another reason why so many marketers are looking at wso’s for their income is that there is a lot less competition. If there is a major launch you’ll find lots of people emailing you trying to get you to buy via their link. With many WSO’s  you will probably find that you are possibly the only one emailing out especially if you pick up an older WSO that wasn’t well promoted.

Believe me there are some superb products being sold as WSO’s the reputation for all wso’s being rubbish is no longer deserved and more and more big name marketers are testing the waters there and providing incredible value.

So how does this relate to you?  Simple, you can earn a very good income by following a few very simple steps. put this in place today and I guarantee that you’ll be earning money by the end of November, done right you really don’t need a big list.

Find a topic in IM that interests you, SEO, Adsense, offline marketing, etc

1. Get an aweber account

2. Start to build a list around that niche, continue building.

3. Write Interesting emails and schedule them to go out regularly twice a week maybe monday  & wednesday or wednesday and friday  etc. Remember as a friend of mine Mark Pocock said today when talking about emails …stories sell.

4. Find a good Quality WSO every week and promote it in the 2nd email.  The first email should give good info and be entertaining…leave them waiting for and wanting your next email.

Thats it, do it right and the world is your oyster… seriously you could soon be one of the marketers earning $30,000 a month. Even if it’s “only” $3000 a month isn’t that better than a poke in the eye with a pointy stick?

One final tip… too many people get on lists then leave because they are being marketed to… be professional, those emails are your classroom. Learn from them, if it takes and hour to read them all every day do it… learn from it, take what you like and use it, what you don’t like  avoid . Build a swipe file of the best bits and the best headlines.

Some Good Resources

How To segment an Aweber List   Paul Nicholls covers how to segment a list in Aweber on his blog …very important information if you want to increase sales.

WSO SuperAffiliate   In-depth WSO about how to become a WSO super affiliate.  I bought this the other day and watched it through in 1 settings.. lots of gems in this one. There are 1 or 2 things i don’t agree with but overall it’s a very good course.

Finally : If you want to know how to build a list don’t forget my Listbuilding Debunked Product You can get  a major discount over the next 3 days by using this link:  Massive Put Beans On the Table Discount 

 

 

 

 

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Mark

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7 comments
Ben

Nice post Mark, this is been something I’ve had on my mind for a while.

I bought the WSO and agreed it had some value, but mostly what I already knew (that says more about me than the WSO though).

I had a couple of questions though if I may

a) Does it cost money to join WSO Pro or whatever the affiliate system is called?
b) Should I create a low cost product of my own and use that to develop a list (either thru WSO or a well known marketer.. *cough* :P), or create a free product?

Thanks Mark!
Ben recently posted..September 2011 Update – Success, But At A PriceMy Profile

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Mark
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a) 3.99 to promote products… bargain! seriously 1 sale a month will cover it.

B) create a product, forget a free products you end up with a lot of freebie seekers. (check out list building debunked 🙂 )

I bought a WSO yesterday and i knew it all but it was concise and served as a reminder of how simple this business can be if you don’t over complicate it.

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Ben

Cheers Mark

I do have List Building Debunked.. loved it but of course never put it into action.

I definitely agree about being reminded of the fundamentals though.

By the way your reply button is broken on my screen
Ben recently posted..September 2011 Update – Success, But At A PriceMy Profile

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Bolaji O | The Nocrastinator

What’s up, Mark!

Thanks for sharing this blog post, and the one on pricing from July.

The Warrior Forum does seem like a very unique pond.

While the same human condition that correlates level of quality with level of price,
the expected price range is orders of magnitude lower than you’ll find elsewhere.

I think last I checked, the average price on the Warrior Forum was $16.

(But I bet the median price is closer to $10;
there are a few really expensive coaching offers out there,
but the majority of offers are between $5 and $17.)

As we just discussed privately, that 10% conversion rate as a minimum to attract affiliates
is also unique to the Warrior Forum. I think you cited a 2% conversion rate as being good
on Clickbank (to contrast).

I only discovered Warrior Special Offers in May of this year, after attending the annual
Warriors Live event in Raleigh, North Carolina.

It’s been an amazing ride since.

Interestingly, even in a market with fairly low price products,
smart marketers are not building their entire business at this price range.

Instead, they’re building a whole funnel full of products,
providing different levels of value, detail, convenience, and/or personal access to the author.

By so doing, they can generate larger numbers of new leads
with the low-priced products (or front-end products),

And then make a back-end offer (One-Time Offer) at a slightly higher price…
(So front-end sales page conversions aren’t the only conversions to think about)

And even after that, continue to make a sequence of offers, over time,
via their email autoresponder.

In so doing, you could have someone who pays $5 for a Warrior Special Offer from you,
but ends up paying you four figures for personal coaching.

This specific example is one I’ve seen a marketing colleague of mine do repeatedly.

Hopefully this blog post has “converted” you into being a believer of
“strategic” low prices. 😉

Great post, Mark.

Bolaji.
Bolaji O recently posted..WIN My Next Product for Free! [The Product Hydra Slayer]My Profile

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Good Points Bolaji, even in the past month i’ve seen several big name marketers who would never been seen dead in the warrior forum previously do 5 figure wso’s.

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paul nicholls blog

hey mark

good post and thanks for recommending my post 🙂

i also like to promote WSO`s as the prices are very good and affordable and often theres some great content in them. I do think that selling a WSO`s are a great move and even better if you are doing one yourself because the WSO can be the front end product at a low price and then have your flag ship product as a back end

this is what i plan to do very soon and then obviously segment my buyers accordingly when they make the second purchase

i love building that buyers list even if there only low cost products, you then know if someone is seriously interested in what you have to offer.

i still believe clickbank to be a great money earner but its all in the list with clickbank, having a good funnel and also having good traffic streams providing you with consistant targeted traffic

ive not done a WSO yet but i will be witin the next few months, im looking forward to it 🙂

cheers for the good post mark

paul 🙂

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Mark
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Paul, Doing good quality wso’s are a really good way of building a good reputation, a loyal buyers list and a network of affiliates. Since writing this post and the previous one on low cost products i have been talking to people who started out building lists , relationships and quality products then selling them through the wso forum. In the 4 or 5 months they have been doing it many have earned over $100,000 one I know over $250,000… and managed to maintain a good reputation. However it does only take 1 bad product or 1 bad recommendation to ruin your reputation so you need to be vigilant.

BTW why didn’t you use the comment luv button for some nice link action 🙂

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