You know you should be building a list, right? Since I have mentioned it several times over the last year or so I trust that most of you, if not all of you, are building a list of people to communicate with. There might have been a mention or two in some of the other communications you have seen and read over the last few months as well. However, the saying is "the money is in the list", but you may not have seen too much of that money yet. I know that not all of my emails generate sales. Most of my campaigns to grow my list are not in positive ROI territory either. I figure that some of you are having the same issues. I learned something today that I haven't put into practice yet, but I will. With any traffic source, multiple offers will resonate with them, but you don't know upfront which ones they are. The only way to find out is to test them. The challenge then is to do enough testing to be able to identify a winning offer. Makes sense doesn't it. The question then becomes; How? How many clicks do you send to an offer to determine if it's worthwhile for this traffic? There's a formula. It's based on the value to you of the offer. If your commission is $10 and your cost per click is $1 the formula is three times the commission divided by the cost per click. In this case, you would send 30 clicks and expect one sale. If the commission was $50 and the cost per click was $0.30, then you send 150/.3 = 500 clicks to get a single sale. This is not all of the formula though; you also need to be testing the landing page, in this case, a squeeze page to optimise the signups, and you need to optimise the Thank You page (your offer page) to make the sales. How do you manage to set all that up and test it all at the same time? I neglected to mention that you also need to be testing multiple offers at the same time, so you get to the profitable ones faster. Now, do you see why you haven't managed to be profitable yet? If you did strike it right with your first few campaigns can you understand why it had a lot to with luck? Good on you if you did strike it lucky, congratulations. Would this help you to find the next profit centre faster? In the P.S. I share with you the tool I'll be using to make all this easier. Regards, Brent. P.S. Running multiple campaigns at the same time is challenging, and you will need to be automating as much of it as you can. The same goes for me, but I have several secret weapons in my arsenal that will make this easier. The first is a great page builder that will allow me to create landing pages quickly and duplicate them for split-testing; that tool is Convertri. The second tool I'll be using is Click Magick. The reason for that is that Click Magick has rotators build in. Meaning that I can set up multiple campaigns in Convertri and point the Thank You page link to the rotator URL which will spread the signups through the offers according to the number of clicks each needs to satisfy the formula. I can also use the rotators to spread the incoming clicks across the various landing pages, so I only need to promote a single link to whatever traffic source I use. Ready to make your list building profitable? Get Convertri here. Get Click Magick here. |
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Brent Milne 12 Torrens St Happy Valley South Australia |
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