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- Jan 18, 2012
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ATTENTION: Fastlaners Who Are Looking To Kill, Dominate, Crush, Own Your Market...
...You don't want to miss out of these 5 series of "threads" because...
...By the end of these posts, you will:
at least 3x your current revenue/profit
you will make your competitors go so nuts that they won't be able to sleep at night
you will be so excited that you might work a few days in a row without sleep
you will finally take "real control" of your business
and much more...
What I'm about to share with you have been game changing for me and I latterly have spent ten of thousands of dollars to figure this out.
So, I really hope you are going to take action on this because the power of the information I'm about to give you for FREE isn't going to change anything if you keep it in your "mind/brain"...
...Okay?
Great!
There are a few fundamentals keys that make a business unstoppable in my opinion and I want to share them with you before I give you the content.
In order to make your business unstoppable, you will need to focus on these 3 things:
Three ways to grow a business,
So...
Obviously for the first stage of your company (0 to $1 million in revenue), you should focus on sales only.
I see way too many people trying to make everything perfect before launching their businesses and they end up with no sales after a few months... (I have been there and I still tend to try to make everything perfect up front)
Apple is the best example...
They rather launch a good product and make it become "perfect".
Fact...
They always keep updating/upgrading their phone/ipad/mac along the way with the feedback of their users/market.
So please, do not try to make your business perfect right of the bat, instead you should focus on creating a marketing/sales system that will get you profitable and make you a ton of sales.
This is what we are going to focus on.
Creating a machine that will make you a ton a money while beating your competitors without "any" problems.
Just before we start, I just want to make sure you understand my point on sales/marketing vs quality.
Have you heard of McDonald?
Pretty sure you did right
?
Can you tell me why they are the best "burger" company in the world while they probably offer the worst burger in terms of quality?
It's because of their sales/marketing system
.
Alright so the first thing I want to talk about is acquiring customer/buyer magnet/tripwire or however you want to call it.
You see, 90-95% of the company make this first mistake which make it pretty hard for them to become a "leader" in their market.
They try to be profitable on the front end right from the start with their first product.
Let me give you a few examples:
-People who are trying to sell a how to product at $47-$67 as their front end.
-Haircut salon that try to get new customer in... like the 10 other haircut salon in the area.
-The real estate agent that tries to get new listing by doing what the whole industry does.
-E-store that tries to get new customer by selling their main product
-etc...
I could probably list any company in any market that make this mistake and here it is...
MOST company try to sell their MAIN product as their FRONT END...
Here's one of the problem.
Most of these products are part of what I call: the middle of the value ladder.
For any customer that doesn't have a buying experience with you yet or even an old customer, it's going to be VERY hard to sell a product that we can "qualify" as a product that's part of the middle of the value ladder.
How can we define what service or product is qualified as a middle of the value ladder?
#1 If the product/service you are offering "define" your business (usually what you are known for), that's usually going to be part of the middle of the value ladder.
#2 If the product can be compared with your competitors or if it require your prospect to think and see the pros and cons of why he should buy it with you... it's usually a product that will be in the middle of the VL.
Example: listing a home.
That's the big problem most company have, it's hard to acquire a customer because most of the time their prospect don't know them, the prospect don't trust them yet and they can look around and make their researches about a lot of similar products/services that will solve their needs/wants but...
...don't worry there is a way to fix this problem.
I think we are living in a moment where it's never been harder to get people to give us money because of the accessibility of the information and many other reasons we don't really need to talk about.
That's why we are going to use a "tripwire".
What's a tripwire?
An irresistible, super-low-ticket offer that converts prospects into BUYERS! (most of the time it's an impulse buy)
Let me give you a few examples before I explain the real power of a tripwire.
Burgers at McDonald ($2,08)
TVs, Computers At Best Buy (even if it's not a super low ticket offer, best buy, compared to most of their competitors, they sell their "main" product without making any profit and you will understand why later)
$1-$7 info product
FREE DVD plus S&H, FREE BOOK plus S&H, FREE physical product etc
Tires at their dead cost
100 Guitar picks at $5
FREE Business Cards (Vistaprint.com)
Columbia Music Record - $1 for 13 CDs
etc...
What most of these products have in common?
Obviously, you won't become rich by selling these BUT...
...all of them are an easy decision for your prospect that you attract through great marketing right?
Most businesses would think that you are nuts to offer SUCH a great deal to your market but here's the thing.
A buyer, even if it's a $1 transaction, is worth 10x more than a non-buyer.
Also, by giving such a great deal to your market, you create good will and you will obviously stand out.
Then if you make sure that this first experience/product/service is VERY valuable for your customer then guess what?
Yes, you are losing money upfront but instead of converting 2-4% of your traffic/visitor, you convert 10-30% of them INTO BUYERS.
Now, they trust you, they respect you and they love you IF you delivered VALUE and treated them like a BUYER that paid for the full price.
The best example of companies that doesn't use the tripwire correctly are companies that work with GROUPON.
They offer a REALLY nice discount on their services but they treat these costumers based on the price they paid which is a pretty huge mistake.
Example:
50% off for X restaurant.
The goal here is to get people to come into your restaurant, make them have a great experience with you so they come back over and over again and talk about their experience to their peers but...
...sadly most businesses will treat these customers like "shit" because he's not as "valuable" as the other customers.
They do not see long term and they don't have any strategy around their tripwire. (this is something we'll talk about in other thread.)
Let's be honest here...
Over the last 12 months, how many time have you eaten to a restaurant where you had a great experience?
For me, at least once a month (minimum) and I have been talking about this restaurant to my whole circle of friend because the food is great and the service is perfect.
They could have paid for my first dinner at their restaurant to acquire me as a customer and I would still have been profitable for them because they delivered GREAT value.
Most of the time, there is way too many similar products/services for a market that it's making it almost impossible to get a customer to come into your store but...
...If you apply a tripwire and you are willing to accept that REAL BIG businesses are losing money on the front end then...
...you will have an incredible edge over your competitors because you will have so MANY new BUYERS to monetize in your backend.
(we will talk about how to be profitable with these new buyers on the next thread)
In my market, I give away a FREE DVD plus S&H...
Do you really think I'm profitable on the front end with this?
no way!
But...
I'm acquiring a bunch of buyers that I can immediately upsell into my CORE PRODUCT (MIDDLE OF THE VALUE LADDER) and guess what?
Instead of having 2-4% CR in some cases, I will hit 25-50% CR for my core product and my tripwire will convert anywhere from 10-20%...
The one that don't buy my core product and my other higher end product are still going to receive a massive amount of value from my FREE DVD which will turn them into fans for life because of the value a delivered on a FREE product.
Real estate agent...
why don't you figure out what's the biggest question people have in mind when they want to sell their home and why don't you create a webinar where you attract qualified leads through marketing/advertising to educate them on this big question while giving them value?
Example:
Let's say most people want to know how they can sell their house for a higher price quickly.
Create an ads that says:
How To Sell Your House 10% Higher Than Your Comparable On The Market Under 90 Days.
If that's the question most of your prospect have in their mind then obviously a lot of them will register to this webinar.
Then, you answer this question through a webinar and you position yourself as the expert in their area and you give them a plan on how to sell the house 10% higher [...] and at the end obviously it will look like a lot of work to them so you could ask... Need Help Implementing This?
Most of them will say yes and boom you close them and you list their house.
That was a really really quick "example" here but at least here you are doing something that 99.9% of your competitors don't do.
This can be applicable for any business.
Are you selling clothing?
Turn your most popular item into a tripwire and give it away at your dead cost and make sure your sale reps upsell them shoes, accessories, pants etc...
If you can give them such a great deal on this tripwire, they won't be able to pass by the store without buying it and we both know that once you have made the decision to buy something in a store, you will look for something else that could fit, upgrade, improve your initial purchase.
Infomercial are good at it.
They give you such a great deal because they want you to call them but you will always end up buying other things because they have a system/sale strategy in place for their backend. (again that's something we'll talk about later.)
If you want more examples or you need help finding ideas for your business, you can join this group on FB where I'll be able to help you guys:
[REMOVED]
Look, I could go on and on and on talking about this but it would take way too much time.
So... join this group instead, we will be masterminding with people that are interested:
[REMOVED]
Alright, now it's time to go out there and create that first tripwire.
Make sure it's an impulse buy that will deliver a great amount of value, make sure it's such a great deal that your audience can't refuse it and make sure it lead to your core product.
Here's a few ressources that I use to create tripwire:
Disk.com
Alibaba.com
Once you have that created for your front end funnel, you will be acquiring a bunch of new customers and most of your competitors will be thinking that you are nuts for doing this and that you will go bankrupt but... you will see what we do with the power of the backend in the next few chapters.
Cheers
See you in the next thread
...You don't want to miss out of these 5 series of "threads" because...
...By the end of these posts, you will:
at least 3x your current revenue/profit
you will make your competitors go so nuts that they won't be able to sleep at night
you will be so excited that you might work a few days in a row without sleep
you will finally take "real control" of your business
and much more...
What I'm about to share with you have been game changing for me and I latterly have spent ten of thousands of dollars to figure this out.
So, I really hope you are going to take action on this because the power of the information I'm about to give you for FREE isn't going to change anything if you keep it in your "mind/brain"...
...Okay?
Great!
There are a few fundamentals keys that make a business unstoppable in my opinion and I want to share them with you before I give you the content.
In order to make your business unstoppable, you will need to focus on these 3 things:
Three ways to grow a business,
- Increase the number of customers
- Increase the average transaction value per customer
- Increase the number of transactions per customer
So...
Obviously for the first stage of your company (0 to $1 million in revenue), you should focus on sales only.
I see way too many people trying to make everything perfect before launching their businesses and they end up with no sales after a few months... (I have been there and I still tend to try to make everything perfect up front)
Apple is the best example...
They rather launch a good product and make it become "perfect".
Fact...
They always keep updating/upgrading their phone/ipad/mac along the way with the feedback of their users/market.
So please, do not try to make your business perfect right of the bat, instead you should focus on creating a marketing/sales system that will get you profitable and make you a ton of sales.
This is what we are going to focus on.
Creating a machine that will make you a ton a money while beating your competitors without "any" problems.
Just before we start, I just want to make sure you understand my point on sales/marketing vs quality.
Have you heard of McDonald?
Pretty sure you did right
?Can you tell me why they are the best "burger" company in the world while they probably offer the worst burger in terms of quality?
It's because of their sales/marketing system
.Alright so the first thing I want to talk about is acquiring customer/buyer magnet/tripwire or however you want to call it.
You see, 90-95% of the company make this first mistake which make it pretty hard for them to become a "leader" in their market.
They try to be profitable on the front end right from the start with their first product.
Let me give you a few examples:
-People who are trying to sell a how to product at $47-$67 as their front end.
-Haircut salon that try to get new customer in... like the 10 other haircut salon in the area.
-The real estate agent that tries to get new listing by doing what the whole industry does.
-E-store that tries to get new customer by selling their main product
-etc...
I could probably list any company in any market that make this mistake and here it is...
MOST company try to sell their MAIN product as their FRONT END...
Here's one of the problem.
Most of these products are part of what I call: the middle of the value ladder.
For any customer that doesn't have a buying experience with you yet or even an old customer, it's going to be VERY hard to sell a product that we can "qualify" as a product that's part of the middle of the value ladder.
How can we define what service or product is qualified as a middle of the value ladder?
#1 If the product/service you are offering "define" your business (usually what you are known for), that's usually going to be part of the middle of the value ladder.
#2 If the product can be compared with your competitors or if it require your prospect to think and see the pros and cons of why he should buy it with you... it's usually a product that will be in the middle of the VL.
Example: listing a home.
That's the big problem most company have, it's hard to acquire a customer because most of the time their prospect don't know them, the prospect don't trust them yet and they can look around and make their researches about a lot of similar products/services that will solve their needs/wants but...
...don't worry there is a way to fix this problem
.I think we are living in a moment where it's never been harder to get people to give us money because of the accessibility of the information and many other reasons we don't really need to talk about.
That's why we are going to use a "tripwire".
What's a tripwire?
An irresistible, super-low-ticket offer that converts prospects into BUYERS! (most of the time it's an impulse buy)
Let me give you a few examples before I explain the real power of a tripwire.
Burgers at McDonald ($2,08)
TVs, Computers At Best Buy (even if it's not a super low ticket offer, best buy, compared to most of their competitors, they sell their "main" product without making any profit and you will understand why later)
$1-$7 info product
FREE DVD plus S&H, FREE BOOK plus S&H, FREE physical product etc
Tires at their dead cost
100 Guitar picks at $5
FREE Business Cards (Vistaprint.com)
Columbia Music Record - $1 for 13 CDs
etc...
What most of these products have in common?
Obviously, you won't become rich by selling these BUT...
...all of them are an easy decision for your prospect that you attract through great marketing right?
Most businesses would think that you are nuts to offer SUCH a great deal to your market but here's the thing.
A buyer, even if it's a $1 transaction, is worth 10x more than a non-buyer.
Also, by giving such a great deal to your market, you create good will and you will obviously stand out.
Then if you make sure that this first experience/product/service is VERY valuable for your customer then guess what?
Yes, you are losing money upfront but instead of converting 2-4% of your traffic/visitor, you convert 10-30% of them INTO BUYERS.
Now, they trust you, they respect you and they love you IF you delivered VALUE and treated them like a BUYER that paid for the full price.
The best example of companies that doesn't use the tripwire correctly are companies that work with GROUPON.
They offer a REALLY nice discount on their services but they treat these costumers based on the price they paid which is a pretty huge mistake.
Example:
50% off for X restaurant.
The goal here is to get people to come into your restaurant, make them have a great experience with you so they come back over and over again and talk about their experience to their peers but...
...sadly most businesses will treat these customers like "shit" because he's not as "valuable" as the other customers.
They do not see long term and they don't have any strategy around their tripwire. (this is something we'll talk about in other thread.)
Let's be honest here...
Over the last 12 months, how many time have you eaten to a restaurant where you had a great experience?
For me, at least once a month (minimum) and I have been talking about this restaurant to my whole circle of friend because the food is great and the service is perfect.
They could have paid for my first dinner at their restaurant to acquire me as a customer and I would still have been profitable for them because they delivered GREAT value.
Most of the time, there is way too many similar products/services for a market that it's making it almost impossible to get a customer to come into your store but...
...If you apply a tripwire and you are willing to accept that REAL BIG businesses are losing money on the front end then...
...you will have an incredible edge over your competitors because you will have so MANY new BUYERS to monetize in your backend.
(we will talk about how to be profitable with these new buyers on the next thread)
In my market, I give away a FREE DVD plus S&H...
Do you really think I'm profitable on the front end with this?
no way!
But...
I'm acquiring a bunch of buyers that I can immediately upsell into my CORE PRODUCT (MIDDLE OF THE VALUE LADDER) and guess what?
Instead of having 2-4% CR in some cases, I will hit 25-50% CR for my core product and my tripwire will convert anywhere from 10-20%...
The one that don't buy my core product and my other higher end product are still going to receive a massive amount of value from my FREE DVD which will turn them into fans for life because of the value a delivered on a FREE product.
Real estate agent...
why don't you figure out what's the biggest question people have in mind when they want to sell their home and why don't you create a webinar where you attract qualified leads through marketing/advertising to educate them on this big question while giving them value?
Example:
Let's say most people want to know how they can sell their house for a higher price quickly.
Create an ads that says:
How To Sell Your House 10% Higher Than Your Comparable On The Market Under 90 Days.
If that's the question most of your prospect have in their mind then obviously a lot of them will register to this webinar.
Then, you answer this question through a webinar and you position yourself as the expert in their area and you give them a plan on how to sell the house 10% higher [...] and at the end obviously it will look like a lot of work to them so you could ask... Need Help Implementing This?
Most of them will say yes and boom you close them and you list their house.
That was a really really quick "example" here but at least here you are doing something that 99.9% of your competitors don't do.
This can be applicable for any business.
Are you selling clothing?
Turn your most popular item into a tripwire and give it away at your dead cost and make sure your sale reps upsell them shoes, accessories, pants etc...
If you can give them such a great deal on this tripwire, they won't be able to pass by the store without buying it and we both know that once you have made the decision to buy something in a store, you will look for something else that could fit, upgrade, improve your initial purchase.
Infomercial are good at it.
They give you such a great deal because they want you to call them but you will always end up buying other things because they have a system/sale strategy in place for their backend. (again that's something we'll talk about later.)
If you want more examples or you need help finding ideas for your business, you can join this group on FB where I'll be able to help you guys:
[REMOVED]
Look, I could go on and on and on talking about this but it would take way too much time.
So... join this group instead, we will be masterminding with people that are interested:
[REMOVED]
Alright, now it's time to go out there and create that first tripwire.
Make sure it's an impulse buy that will deliver a great amount of value, make sure it's such a great deal that your audience can't refuse it and make sure it lead to your core product.
Here's a few ressources that I use to create tripwire:
Disk.com
Alibaba.com
Once you have that created for your front end funnel, you will be acquiring a bunch of new customers and most of your competitors will be thinking that you are nuts for doing this and that you will go bankrupt but... you will see what we do with the power of the backend in the next few chapters
.Cheers
See you in the next thread
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