If the lead doesn’t buy after a few days, they continue to send them a random broadcast email a few times a week about the SAME PRODUCT.
Your email marketing list, naturally, gets burned out.
They get tired of hearing about the same thing over and over again. Sales grind to a halt and traffic costs were going up as new competitors enter your market niche.
The business now becomes in danger of going under…
So here’s how we turn things around and, specifically, how we double (and sometimes triple) revenue in every business we consult – and we do it almost immediately after customer acquisition.
Let’s say for instance that you have an email list of 116,343 subscribers, they only had one product priced at $47 and no one is buying it anymore… (surprise surprise)
My team and I will often know that you need a new offer, but there isn’t time to create a new product. This business needed a cash injection… and fast.
So, here’s what we did…
We took a bonus report that was bundled with the main product and offered it for sale for only $7.
Here’s the important part…
I didn’t care about the $7 sales. Nobody is going to get rich selling a $7 report and I know that…
I just want buyers.
Because according to our B2B market research, if someone takes that $7 “front end” offer they are 16X more likely to buy your core product or service offering.
The results are often staggering. Let me break it down for you:
- List Size: 116,343
- $7 Sales: 962 in 30 days (8.3% Conversion Rate)
- 253 upgraded to the $47 main course (26.3% Ascension Rate)
- That’s $17,779 in monthly revenue total = $6,734 in sales from a $7 report + $17,779 in bonus revenue from the main course.
$18k in revenue from a tired product offer sent to a “dead” email list!
Was it a magic trick?
Not at all…
It’s a simple tactic we employ in all of our funnels called Offer Fragmentation.
Here’s how it works. Your core product or service offering is made up of many different components.
If you sell a guitar training course, it’s made up of smaller lessons and modules.
If you sell website design, it’s made up smaller services like logo design, information architecture and wire framing.
If you sell golf clubs, they can be broken down into drivers, irons, putters and wedges.
Offer Fragmentation is the process of breaking off bits and pieces of your core product offer and selling them a la carte.
Let me show you what I mean…
A company hiring me was selling a big, multi-module training course called 40 Days showing you how to survive off the grid for at least forty days and nights. As I said before, this product sold for $47.
From this one core product offering we were able to splinter off over a dozen smaller products.
The one we got the best feedback on, called 170 Gallons a Day, was the one that we plucked out and sold as our $7 offer.
It was a splinter of the main product and it was how we were able to generate $18k in monthly sales from that tired email list.
The next month we splintered off another report and repeated the process. And we did it again and again.Ultimately, this “Offer Fragmentation” process is what allowed us to grow this business from $15,000 a month to well over $400k a month in just under 9 months.
By changing up your “front-end” product, you’re able keep your marketing efforts fresh… and go back to the same email marketing list selling the exact same “back-end” product month after month without burning out your email marketing list.
Those prospects not interested in one “fragment” of the core product would never see the offer for the core product.
This means that we weren’t exposing our list to the same old tired offer over and over again.
The only time they would see the core offer is if they were a BUYER.
Here are a few examples of Offer Fragmentation in 2016 …
- A web designer that sells logos
- A dentist that sells teeth whitening at dead cost
- A roofer that offers gutter cleaning
- A website hosting service that sells website templates
- A lawn care service that offers to fertilize off-season at dead cost
When you splinter your existing product or service your promotional opportunities become endless and that is how you make more sales from the leads and prospects you already have.
Here’s the formula…
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