Unfortunately This Is A Sure Sign You’re Sign You’re Working Too Hard!
(And You’re Definitely Headed Towards Burn Out And Potential Bankruptcy!)
You’ve definitely run your fair share of paid ad campaigns over the years, correct? Me too. And not all of them, we’re winners, right? And clearly some of them worked, while the vast majority of them, probably did not. Agreed?
And when it comes to some of the promotions or non conventional marketing strategies or tactics, you and I have attempted over the years. Pretty much the same can be said for them as well. Right?
So when or as you boil it all down. You can easily get so caught up, in trying to create an initial front end profit, you start consistently spinning your wheels so much. Till you sort of get blinded to the fact. You’re simply working too hard. For such little bankable results. May this never, (or) recently has happened to you? Are you sure?
The following examples, will hopefully demonstrate to you, how, why and where, you are not maximizing your business or services full earning capacity. You have a look, then be the ultimate judge. Fair enough?
You Definitely Need To Be Or Become Aware Of When You’re Potentially Working Too Hard!
Take this first, incredibly simple, but all too common example, of a single location, product based business owner. Who for whatever reasons, is constantly working way too hard. (See how much and to what degree you can relate.)
Let’s say you currently own and manage, a single location, fairly successful, higher end men-s clothing and accessories store.
And to date, one of your most successful, (and therefore) most profitable marketing strategies, is using snail mail post cards.Say what?
To inform the ultimate 1st grand prize winner. Along with the other 99% of your runners up.In your extremely popular, quarterly free drawing. Where your 1st grand prize winner, gets a fully customized men-s suit. Which would normally retail for at least $2,500 dollars.
And let’s say, over the last year. You’ve held this particular drawing, once every quarter, (aka), once every 90 days or so. And thus far, it has yielded, four 1st grand prize winners.
And your snail mail post card list, is now up to 1,000 subscribers strong. Good for you and major congrats BTW. Now it’s time for you or your major competitors, to start working extremely smart.Huh?
Let Modern Technology Start Doing Some Or Most Of Your Marketing Or Promotions Heavy Lifting!
Case in point. Now that you’ve finally decided, on utilizing, a reputable, state of the art, paid autoresponder service provider.So you re-mail yet another round of snail mail post cards, to your 1,000 subscribers.
And you attempt to ethically bribe them. By offering them, for an extremely limited time of course. Every snail mail post card subscriber, who joins your opt in email or mobile marketing list.
They save 40% off any purchase between $500 -$997 dollars. Or 25% off any purchase under $499 dollars. And they can save a staggering 55% off any purchase over $1,000 dollars.
Provided, they drag a male friend with them, to your store, whose at least 18. Otherwise. They come alone and spend over $1,000 dollars. They still save 45% off any purchase they make.
And let’s say 501 of your snail mail post card recipients.
Decide it’s definitely in their long term best interest, to join your opt in email list. And sadly, the other 500, for whatever reasons.Don’t take advantage of your marketing generosity. (You’ll see “why” 501 was used and not an even 500 in just a second.)
Are You Finally Ready To Start Experiencing Some Type Of Geometric And Not Just Linear Growth!
So let’s take a closer look, at how your numbers might play out, (going forward)when you start sending, periodic email messages.Instead of constantly paying postage typesetting. The postage itself, for another round of 1,000 or so, single sided, snail mail post card mailings.
So you, someone in your company. Or you decide to hire a professional, to craft your, extremely time sensitive email alert messages. To your 501 newly acquired subscribers. And in the case of aweber. My current, reputable paid email service provider of choice.
Once your subscriber base exceeds 500, your monthly rate, (starting) the very next month or quarter.. Provided you’re currently paying by the month or quarter.
It automatically increases, from the previous $19.95 per month, through your first 500 subscribers. Once you reach 501. Then your invest is $29.95 per month. (Please see their latest pricing options, simply by visiting their website/blog.
Anyway. Let’s say your email or mobile marketing messages, current open rate is a very respectable 30%. Which means, (for this particular, hypothetical marketing example only.) When you send your subscribers, any type of email message.Out of your current 500 total subscribers.
About 30% of them Or 150 subscribers, at least initially open your email. (They haven’t bought anything yet. But they have taken the all important, very first step. Which is, 30% of them, at least opened it. (500 x .30% = 150.)
So You’ve Put Your Business Or Service In The Position To Push Send! (Now What?)
And let’s say your email or mobile marketing messages, also averages a very respectable, 30% Click Through Rate (CTR ) as well.Which means, out of the 150 subscribers, who initially opened your email/mobile marketing message. 30% of them, or 45 subscribers, actually clicked your link.
And let’s say they’re automatically directed, to one of your extremely time sensitive offers.And 30% of these 45 subscribers, (or 13.5 subscribers, rounded off to 13, for ease of calculation)
They actually come into your store. And they average about $450 dollars each. Say what? Which means, you grossed, on the front end of your sales, an additional $5,850 dollars. (13 x $450 dollars = $5,850 dollars.)
And since 30% of your 13 subscribers, took advantage of your ethical bribe, for dragging a male friend with them, whose at least 18. This means, an additional 3.9, potential first time customers came to your store.
So let’s round 3.9 off to just 3. And let’s further state. Say you also ethically bribe these potential first time customers. So at least two of them end up averaging, an additional $200 dollars each. So you grossed an additional $400 dollars, on top of your $5,850. ($5,850 + $200 more dollars = your new gross of $6,050 dollars. Not bad for one day or one weekend, correct?
(And remember, this is the gross front end, from a portion of your email subscribers. This gross front end figure, doesn’t take into account, any o your walk in profits. Or any gross front end profits, from any paid advertising or potentially profitable JV (Joint Venture) or cross promotional arrangements you may already have in place as well.)
As You Or Your Major Competitors Gradually Lower Your Expenses! (Your Gross Profits Steadily Go Up!)
Now let’s (once again!) deduct some of your traditional cost. Only this time, unlike when you were constantly sending your 1,000 or X number of local customers or prospects, your periodic, single or two sided snail mail post or index cards.
Remember how, each time you did that. You had to pay for a new round of typesetting, plus postage and if you wanted any special colors added.Doing so further added to your front end costs.Correct? Absolutely.
Now, after you or somebody wrote your email and crafted, (hopefully) an appealing subject line. You hit the send button and your unscheduled, “broadcast” email message was sent. In this case to 501 of your your new email subscribers. And since your list is currently over the cutoff of 500.
Your monthly or quarterly rate went up. And now your monthly rate, (if you’re currently paying by the month. It’s now $29.95 per month. And if you make one annual payment of X. And save a certain percentage (BTW), for doing so.
Then starting the next month, you now make an adjusted payment, either by the month, quarter or year. To reflect the appropriate increase, on your individual payment plan.
Is It Starting To Feel Good Because Your Email Marketing Campaigns Have Replaced Your Outrageously Expensive Direct Snail Mail Campaigns!
So just for the sake of example. Let’s say you currently pay by the month. And when you first opened your account. Your monthly payment, was just $19.95 per month, right? Up to your first 500 subscribers. Then as soon as your active subscriber count reached 501. Aweber now raises your monthly rate to 29.95.
(Remember, each reputable, paid autoresponder service, has similar, but different, although competitive pricing plans and benefits.)
And it remains that cost, until your total subscriber base exceeds 2,500. Then it goes up again. So you deduct $29.95, from your total gross profit of $6,050 dollars.
At first glance. It looks like, you could probably afford, to continue to market to your current and future subscribers, via a paid, state of the art email service provider. Don’t you agree? Absolutely. In part two.
You’ll discover, how an extremely marketing savvy service provider, can and should strategically utilize opt in email/mobile marketing. So please stay tuned.But for now, can you much better appreciate, the classic signs, of when you’re definitely working too hard.
There Are Definitely Times And Situations Where State Of The Art Technology Serves You Or Your Major Competitors Extremely Well!
P.S.Now as is customary during this part of our show.Please share your extremely valuable comments (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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