Archive for December, 2008
Seven Things #6: Product Funnel
In the Daily Seminar membership site Jason and I launched yesterday, we're going to be opening up parts of our business that we don't like to give away for free...
Here is my long term business plan... otherwise known as a map of all my current upsells:
It's a slightly out of date map but you get the idea.
That chart tells me exactly what I need to work on next.
I update it regularly (using Visio) but I used to do the same thing with my whiteboard.
Each of those boxes represents a sales letter. When they try to order, the arrows represent the different upsells that I present to them. So they can either: yes, I want to order this package... or say, no, I want this bigger package, and get moved to the next box.
As you can see, the PHP in a Box, Full Blast PHP, and Guerilla PHP stuff is on the bottom. Three packages around $100, upselling into a $200 bundle and then up to a $300 bundle.
I've blurred out the stuff that's not released yet (most of it is very close to being released). Obviously it all points to a giant package in the middle that I will price at $1000.
The ovals represent surprise bonuses I still need to integrate into my products. I'm applying the Ben Prater Refund Reducing Formula on those as loyalty bonuses... autoresponder follow-ups timed a week or two after a purchase. I offer that bonus in exchange for a testimonial about the orignal product.
The dotted lines represent upsells that I haven't connected yet. If I was working and was in a copywriting mood, I should probably spend 30 minutes writing the 1 page sales letter that upsells Full Blast PHP into the PHP in a Box plus Full Blast PHP bundle.
The white boxes mean they are products without video. The red boxes mean those products do have video. Common sense tells me that if I am in product creation mode, I should finish up the videos for Simple PHP 1, 2, and 3.
Because THAT means I can upsell visitors to a $100 product, upsell those to a $200 product and finally a $300 product just by writing a couple more pages of sales copy.
If a box has an "F" letter it means I am satisfied with the number of automatic followups that buyers of that product receive. When I am in followup creation mode I take one quick look at this chart and work on followups for a box missing an "F."
If a box has a "T" it means I'm satisfied with the number of testimonials for that product. If I feel a product is lacking in testimonials I can blast a quick mailing to my sublist for that product, check my old threads or blog comments to canniblalize into testimonials. Maybe even single out some of my active buyers and interview them over e-mail, and turn that into a testimonial.
I teach in Fast Food Copywriting that the only reason you are after testimonials is for proof. You don't need testimonials to sell a product, only to give proof.
Each box also has a bount of the number of scripts, price, video running time, and download size so that I can easily total them up in any bundle to give a "thud" factor -- when I say a product has 2 gigabytes of content, people say, "Wow!"
Read a Sales Letter Aloud
Are you still participating in the daily video challenge?
If you missed out on it, the task is you just record one video every day. It could be a live-action video, it could be a Camtasia video. It could be just 5 minutes if you want it to.
Many many months ago, my friend Steven Schwartzman paid for someone to create a YouTube video out of his site... all he did was record a Camtasia video reading the sales letter for a few minutes.
Due to the rules of the Daily Video Challenge, you're not allowed to do that.
On the plane ride back from Austin, Texas in April... returning from the Warrior Event... I copied a few peoples' WSO sales letters by hand and it works like MAGIC!
Record a Camtasia video of you reading a sales letter aloud... a sales letter of either a competitor's product, or a product in a similar niche to yours.
It will also help with your speaking skills. At one point, recorded a PowerPoint Camtasia presentation for Kevin Riley's Recipe for Post Product Launch.
Guess what that means?
- I now have a web-based video presentation that I loaded into an autoresponder series. I'm using Ben Prater's method of sending out regular follow-ups to reduce refunds.
- I also have an audio product. Camtasia allows you to export just the audio of a presentation into an MP3. I separated the audo into two folders because audio CDs only hold 74 minutes of audio.
- I can easily produce the Camtasia files as a DVD if I want to.
I used it as an incentive for people to purchase from me as an affiliate. If it brought me in enough profits, it would justify buying resale rights... but it didn't, so I didn't buy the rights. That's a heck of a lot better strategy than simply blindly buying up rights.
When you buy up resale rights, you can stick in your own upsells, and create your OWN affiliate program...
In our Daily Seminar membership, we're buying up the best resale rights possible to teach you the basics... while the content we create ourselves, focuses on the more advanced stuff.
Hint: This month in the seminar, I'll be posting a very special paid version of the Daily Video Challenge, with actual step by step tasks for you to work on the entire month.
Leave your ten comments for me and Merry Christmas!
Seven Things #5: Continuity Not Memberships
Reminder: Daily Seminar still has seats available!
Although Dr. Mike Woo-Ming wasn't the nicest guy at the Warrior Event in Austin, he did have a lot of really good information.
He gave me a really cool AdWords idea: Instead of blindly bidding on a keyword, he chose the top ten sites in the Google search results for that keyword, then placed AdWords ads and limited them to appear on AdSense ads for those pages that appeared in the top 10.
Not just those domains... those exact pages.
At the end of his talk, Mike said, "I don't do memberships... I do continuity." He didn't explain himself and I had to ask him about it during the hotseat Q&A session on the final day.
Here's the explanation: Running a membership site is too much work. If you don't provide new content to a membership site every couple of days, people will complain and unsubscribe. If you want a recurring income you can still promote membership sites... as an affiliate. Don't be responsible for the membership content.
Before coming to the event, I was against starting a membership site. During the event I was ready to start my own membership... but that little bit talked me out of it.
Now, I'm back in! Why?
Jason and I have enough content. (I don't think I could start a membership site on my own.) We have a huge stockpile of content ready to go, we got a lot of practice pumping out products quickly from our Product University class.
Look at that, 16 live posts and 80 scheduled posts... for a total of nearly 100 posts! I am finishing up March 2009 this week. That's the only way to do it... knock out one month completely, knock out the next month completely...
Our original plan was to kill ourselves and spend 1 week out of every month recording 25-ish interviews. That would have been stupid and would have burned up our content too fast.
Instead, we scheduled the interviews once per week. To fill out the rest of the week, Jason and I each recorded some 20-minute videos on our own. (When making the bonus materials for Product University we got a lot of practice pumping out 20-minute video products quickly.)
So, our formula consists of: Monday, a video by me... Tuesday, a video by Jason, Wednesday, one of our interviews converted into video... Thursday, some product we had secured the rights to... Friday, a question and answer session... and if we still had stuff to give, we'd fill up Saturday and Sunday too.
Why not join to see for yourself how we structured it?
We've filled up every single day of the month so far. Since it's all scheduled several months ahead of time, all we REALLY have to do is answer blog comments. We've had a couple minutes every day to fill up a Saturday or Sunday slot too.
We also know the demand exists. Our own product creaton low ticket items sold well. Our high ticket items sold well. Now it's time for the next step (recurring).
One last thing. You don't have to kill yourself when you make a membership site. Just figure out a way to schedule content to get released most days of the week (like on a blog).
We almost killed ourselves trying to come up with content the first time around. When we did the Product University class, we hosted TWO webinars per week when one would have been fine.
Heck, how much PLR or MRR content is sitting on your hard drive? Could you assemble some of that into a membership site?
Or maybe you just freelance. If you are a successful freelancer you know that your best business comes from repeat clients... so why not get them in a membership site? If you're a writer, guarantee a certain number of articles per month. If you're a copywriter, guarantee a number of autoresponders, solo ads, or sales letters per month. And so on. Why go to all that trouble of begging for money every month?
Add ten comments to this blog post for the next big thing I changed this year!
Seven Things #4: Joint Products
During lunch at the Warrior Event in April, I was with the group at a really cool Mexican restaurant and I sat next to an attendee who was an NLP copywriter.
No, it wasn't Steven Schwartzman, actually I can't remember the guy's name. He was new to the warriors but he really knew his stuff. (He taught coaching in the dating and hypnosis niches).
I explained to him that one of the weakest points in my business system is joint ventures. I am not a people person. Even though I have a large buyers list and people like Eric Louviere said I was a really popular, I didn't believe him because I don't have any really good contacts.
Some of those people on my customer list include Allen Says, Paul Myers, Willie Crawford, Marlon Sanders, Marc Harty, Mike Filsaime, Armand Morin, Tony Blake, Ewen Chia, David Valleries, Dave Miz, Kevin Riley, Paul Kleinmeulman... I could go on.
I'm still a nobody because these guys are flooded with joint venture requests... I don't offer any high ticket, high commission, recurring, multi-tier products. I still have a long way to go.
This NLP guy gave me a cool idea to start small... and that's to create joint products... but not in the usual way.
As Willie Crawford said in his talk about joint ventures at the seminar, you need to hand everything to them on a silver platter.
NLP guy's suggestion: Ask the joint venture "target" to ask his list for their best question about your topic... whatever topic you are an expert in.
Then, answer those questions and give it to that list owner as a product... that they have exclusive rights to... that ends in a call to action to buy YOUR product, with their affiliate link.
You could host a teleseminar or even just record a skype conversation where you discuss the answers. Maybe cut them up and make a podcast.
Transcribe them so you have an autoresponder series.
That's how you create a joint product.
That's what Jason Fladlien and I did later this year after the Philadelphia JV Alert seminar in June. We recorded a bunch of Skype interviews... and guess what... we'll be adding them to Daily Seminar every single week.
Have you created any joint products? Do you have any joint product tips to share?
Dual Monitors
One thing I forgot to mention the other day about my Camtasia PowerPoint process is that I now have a dual monitor setup:
On the left is my new computer that came this week. It's one of those iMac ripoffs where the whole computer is contained within the monitor. It's an AVERATEC F1 D1002UHCE-1.
2.4 GHz Intel Core 2 Duo E4600, 2 GB DD2 memory, 320GB SATA hard drive, 22 inch monitor, Nvidia GeForce 8400 256 MB graphics card, built-in wifi, memory card, DVD burner, webcam, TV tuner. I upgraded from a Shuttle, little toaster shaped computer I bought a couple years ago.
I like tiny computers... less clutter.
But I plugged my 19-inch monitor from the old computer into the back and now I have a second monitor. Great for recordnig those Camtasia PowerPoints as you can see in the picture.
I configured PowerPoint to display the actual slide show on the right monitor, and show "presenter view" on the left so I can see what slides are coming up next.
Yep, if you go to "Set Up Show" in PowerPoint you can not only specify which monitor will display the presentation, but also what resolution to resize it to... I tell it to resize to 640x480 for the presentation.
What's more, if you use the REAL PowerPoint (not OpenOffice like some people named Jason) and you install Office first, then Camtasia, they will add a little button to the "Add-Ins" tab of Camtasia to start the slide show and start recording with one click.
I click ONE button, it resizes my second monitor to the low resolution for recording, starts the slide show, and starts recording. As soon as the slide show is finished, it resizes the monitor to the old resolution and asks where to save the Camtasia recording.
Super cool, right?
The one-click thing might sound stupid, but I'm recording so many videos for the Daily Seminar that I'm at the point where I need it.
I've used dual monitors at work for over a year now and it makes you way more productive in other ways. You can code in one window and read instructions in the other... edit graphics in one window and write in a document on the other. But Camtasia recording is by far my best use for dual monitors.
Do you have a dual monitor setup? If you don't, why not? What desktop setup do you have to get the most productivity?
Seven Things #2: Advertorials
In April 2008 I attended my very first real seminar. We socialized at the bar every night (Thursday night through Sunday night) and one of those nights, starting drinking in a group of people that included Bruce Wedding -- copywriter!
Bruce is slightly ahead of where I'm at (he does $4000 copywriting jobs) and he spoke a little bit about how he has been trying advertorials.
An advertorial is exactly what it sounds like: an ad that teaches some kind of information.
I wrote a sales letter a couple of days after returning from the event and it was an advertorial. I wrote it like an action-packed article and it ended up being a 20 page sales letter.
If you know my PHP products, I sell a package of seven scripts... each script contains source code, PDF instructions, and a how-to video.
I was able to split the long sales letter into seven sub-letters. There was an overarching story throughout the whole thing, but each sub-product had its own story.
I registered seven extra domain names (each for its own script), put each sub-page as its sales letter, put up an order button and upsold it all to the main product.
Don't forget, I also wrote solo ads and setup affiliate programs for each product.
A lot of work, but there you have it... 8 products!
Tomorrow, Jason Fladlien and I are launching the Daily Seminar where we give advice about how we create products quickly, write sales letters quickly, sell without selling, and more stuff... we give advice every weekday!
Gimmie ten comments down below and I will share the next tip with you.
PowerPoint Camtasias
I can't believe I haven't given away this procedure on the blog before. I think I've mentioned it in passing once or twice via comments, and explained it in the private Product University membership last month, but I'm sick of repeating myself, so...
Here is the formula to turn an audio product into a video product. It requires Camtasia ($299 with 30 day free trial) and Microsoft PowerPoint (OpenOffice is free, or you can get the downloadable home edition of Office 2007 for only $80 on Amazon).
Let's pretend you have an audio product that's 27 minutes long.
1. Open up a blank PowerPoint and start playing the audio in your MP3 player. (The default black and white theme will work fine for this.)
2. Fast forward to 1:00 (one minute) in the audio and start listening. Type in the main point of 1:00 to 1:59 as the headline of the slide, and type three quick bullet points of 1 to 6 words each. (Pretend you're back in school and taking quick notes).
3. When the audio passes 2:00, skip to slide 2 by hitting ctrl+enter. Type in your headline and three bullet points for 2:00 to 2:59 in this.
4. Repeat for the duration of the audio. The beauty of this is if you need to stop at say, 15 minutes, you can come back and you'll know exactly where you left off. By the end of this, your 27 minute audio now has 27 slides.
5. Insert a slide in front of all the other slides in the PowerPoint. Change its layout to title slide, and type in the name of the product and the author.
6. (Optional) Edit the master slide and insert your URL at the footer, that way your URL appears on all slides.
7. Select all slides. In PowerPoint 2003, go to Slide Show... Slide Transition. In PowerPoint 2007, there should be an Animation tab. UNCHECK the "advance slide on mouse click" box, and click the "automatically after" box, then type in 01:00 for one minute.
8. Resize your screen to 640x480 resolution, fire up Camtasia Recorder and set it to capture WITHOUT sound, full screen, at 1 frame per second.
9. Start the slide show and hit record (once you get good at this you can actually do it in one click with the "Add-Ins" menu but let's not get ahead of ourselves). Leave the computer, because if you click around on other windows, even if you have multiple monitors, it will mess up the slide show. Don't take too long of a walk because you'll want to be there to hit Stop as soon as the slide show goes black.
10. Stop the slide show, save the camrec, open up Camtasia Studio to edit your recording and import both the camrec video and the MP3 audio. Add a 2nd audio track and drag the MP3 in as the audio.
Congratulations, you've just turned your 27 minute audio into a 27 minute video, and it only took you 27 minutes to listen to the audio and about 2 minutes to get it into Camtasia Studio.
Now export it to an SWF 1 frame per second video if you want to show it on the web. If you want a downloadable version, I prefer to export to WMV. Camtasia 5 has a checkbox that will also export into an iPod version. Cool beans!
Guess what, you can also export the PowerPoint slides into PDFs as well. You've just given yourself an excuse to charge $10 or $20 more for your product.
Don't even have an audio product? Read your book aloud, word for word. Record it into Camtasia and export just the audio (I don't even bother with programs like Audacity).
This is how I make audio products. I'll record text word for word into audio, then PowerPoint it to make it a video.
Most of the time I'll do it backwards, and write PowerPoints where 1 slide = 1 page, then record the PowerPoint with Camtasia running, capturing audio as I read each page aloud, and change the slide when I turn the page.
Then export the PowerPoints into PDF, camrecs into WMV, MP3 and iPod... $17 e-book becomes a $47 video product.
For the products Jason and I are creating for the Daily Seminar, most of the time we don't even bother with the text... who has time to write when you are recording a 20 to 60 minute seminar every day? Just record Camtasia PowerPoints and export video plus audio plus slides. If people really want text, we'll transcribe them, but those costs really add up.
What are your thoughts? Do you use something similar to my PowerPoint Camtasia method? Do you have an even BETTER system than me? Please tell me to know, I'm dying to hear about it!
Seven Things I Changed This Year
Guys, I'm launching a membership site next Monday (December 15th) at 10:00 AM PST. Just wanted you to be aware.
2008 was my most important year in marketing. I changed a heck of a lot of things and actually took my marketing seriously.
The first thing I changed: a longer stream of upsells.
I've only started using upsells this year. An upsell is where you sell a low-ticket item for $27 and just as your visitor goes to order, you give them a choice to either pay the $27 or $97 for a higher ticket item.
Even better, get the $27 order first and on the thank you page, give people the choice between clicking over to the download or giving you the extra $70 for the full package.
Attending seminars made me realize how short sighted I was. Many of the attendees sell products in the $600 range and upsell coaching packages all the way up to $10,000.
As soon as I arrived home from my 4 hour flight and 90 minute drive from the airport, I changed many of my upsells that went from $27 to $97... to upsells that went from $27 to $97... to $197... and finally to $250.
I would bump the upsell to $500 or more but Clickbank has my price limit set at $250.
Do you have an upsell for your product? How many steps?
Please fill up this entry with ten comments so I can share the next big thing I changed this year...
What Membership Software Do You Use?
Do you run a membership site?
What software, plugins, and payment processors do you use for it?
I just setup a real recurring membership site. No more of this password protected blog stuff. I used aMember and WordPress, with Clickbank as the payment processor.
I was really surprised how many plugins are available for this stuff now. Even a year or two ago, you had to modify code and do custom scripting... "duct taping" the scripts together. Now you just install some plugins.
Pretty freaking cool!
I used a blog because I wanted to stockpile a bunch of content up. aMember has the most support (I'm a member of Membership Academy so that helps.)
And Clickbank? If you read my Membership Sites on Crack report, you'd know why I chose Clickbank. Affiliates (60% commission on a recurring product) plus the escape plan. If I can get enough content piled into that membership site so that I have a year's worth of content in advance, you better believe I'm selling it off.
Do you run a membership site? What software do you use to run it? Membergate, aMember, Visiongate? What processor... PayPal, Authorize.net, Clickbank, PayDotCom, 1ShoppingCart? How do you like it?
Please, show off the sales letter to your membership site as well since those can be tricky...
