So are you finally ready to grab the tiger by the tail and recognize just how potentially lucrative, both the front and long term back part of the holiday season sales funnel can be? I hope so.
Because in part six of this ongoing series, you’re going to be exposed to at least two more incredibly profitable long term marketing strategies that really make wanting to seriously look into perpetually using this proven “raffle” buying process, for first creating a massive and highly targeted and responsive list.
And next; then pro-actively using that list to create more and more long term profit opportunities. Using various proven marketing methods. Two of which you’ll be exposed to you in part six of this ongoing series.
And these two particular marketing strategies really get to the heart of how and why you’ve got to constantly strive to build and leverage an extremely targeted list of some kind. And one that you (if nothing else) have at least partially ownership rights to!
Because when you do, it’s the gateway to some tremendous long term and potentially outrageously profitable marketing possibilities! And you will soon see! So stay tuned!…
So Why All This Fuss About The Holiday Season Marketing Opportunities?
First of all, let’s do a (really) quick marketing funnel recap, so that hopefully you can truly appreciate the enormous long term untapped marketing possibilities, that are about to be exposed!
So remember our main original 20,000 raffle buyers? They each spent a mere $200 dollars in order to buy a raffle ticket and a a guaranteed chance to win (in this particular case only!) A $50,000 dollar Cadillac Escalade! And of course, the raffle tickets could just as easily been a mere one time investment of $500 dollars and it would still be a bargain opportunity, correct?
However, at that higher price point, less people would have even less to spend at Xmas and might just opt for the chance to enter the raffle and not buy quite as many presents for others, as they normally would!
So that’s the main reasoning behind keeping the raffle affordable. Plus, with more entry fees being paid, the larger amount the raffle will gross! Anyway, as we mentioned.
The savvy retailers are also going to reward their most pro-active affiliates next year just before next years’s raffle, that’s if they even have another one!
The four savvy retailers are going to ethically bribe their top affiliates, that have the largest active opt in email subscribers on their list after one year! Huh? Remember those initial 20,000 raffle ticket buyers.
They’re going to be rewarded for getting as many active opt in email subscribers on their list as possible over the next twelve months. And just about Xmas time next year, (just in case ) the retailers don’t have another raffle, the top ten affiliates that have the most opt in email subscribers, they will be financially rewarded!
Ethical Bribes And Other Proven Incentives Keeps Your Best Customers Clients And Affiliates Motivated And Productive!
Here’s how this incredibly simple process will work. Each potential opt in email subscriber will be directed to a special lead capture that’s part of a WordPress website the retailers will have created.
And all the visitor does is enter the affiliate ID of the person that referred them and that’s how the retailers keep track of who’s got the most email subscribers at the end of the year. So they can reward them accordingly!
Now lets play with some (hypothetical) numbers, so you can see the potential profit power of this incredibly simple marketing strategy. First, let’s say the average affiliate (translated), one of the original 20,000 raffle ticket buyers, (over the course of one year) gets and maintains at least 20 active emails subscribers for one year.
Granted, some will no doubt have hundreds, and even a smaller percentage of them might actually reach at least one thousand active subscribers by the end of next year. Granted, it’s not likely, but still in all possible!
However, the vast majority (sadly!) won’t even reach and maintain twenty! So let’s just the average is twenty. So, twenty thousand times twenty equals four hundred thousand opt ins! (20,000 x 20 = 400,000.)
Now watch this, let’s say that one of the local appliance dealers that’s part of the original four savvy local retailers, that sponsored the raffle to begin with.
They’ve come across a major local competitor that simply can no longer afford to compete in these constant price wars!And as a direct result, they’re looking to liquidate their entire 13 million dollar inventory asap!
And they’ll take 50% on the dollar (or X) in order to be done with it over the next two or three weekends! So the savvy appliance retailer sends a special VIP email alert to the entire 400,000 opt in subscribers and make them aware that they can purchase state of the art stereos, tablets, notebooks, laptops etc; for just 65% sense on the dollar!
And they give them the exact time,dates and location(s) of where these “must sell” blow out sale extravaganzas are taking place! Now did you notice something? The savvy local appliance retailer has prearranged to purchase the entire $13 million dollar inventory, lock stock and barrel of a major competitor for a cool cash barrel on the head 50% on the dollar!
Which means, they’ll deposit a cashiers check for $6.5 million into escrow with the competitors legal team.(That’s half of 13 million!)
Why Not Strategically Leverage Your List And Other Assets Just Like The Ultimate Insiders Do!
But then turn right around (simultaneously) and actually leverage the exact same inventory, that they’re basically buying on consignment for 65% on the dollar to their opt i list of 400,000 subscribers!
Sixty five percent of thirteen million is (drum roll please!) Equals a cool eight million four hundred fifty thousand dollars! ($13,000,000 x .65% = $8,450,000.) Minus their $6.5 million dollar escrow deposit and they just grossed one million nine hundred and fifty thousand dollars! ($8,950,00 – $6,500,000 = $1,950,000 dollars!) Yep! (Or X!)
We’re talking overall concepts here people!
And all because they built and maintained that opt in list ( or offline database) and aggressively and ethically bribed their top ten affiliates that maintained them! Isn’t being a savvy entrepreneur the bomb?
And isn’t the untapped marketing opportunities, buried within the normal hustle and bustle of the holiday season the best? Don’t you agree?
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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I’m pretty happy with my holiday book sales so far, but anyone who’s been marketing eBooks for more than a year knows our BIG sales period is actually the week after Christmas when people are looking to fill up their new eReader devices they got as presents. As far as this week’s tip – I’ve been thinking about a referral program for sometime and after reading your post I’m more convinced than ever to explore this in 2015.
The challenge for digital products and services is finding a distribution channel that can accommodate a referral program. There are several that offer affiliate options, but a referral program for customers is another reality all together as you know.
But I think it’s worth the effort because outside of the opportunity to expand reach, this would provide a solid incentive for people to buy direct rather than go through a large distributor – in my case that would primarily be Amazon. Of course many of not most will still opt for Amazon, but I think there would be enough interest in the referral perks to make it a good ROI.
Thanks Mark, love’n the series! Wish you a happy, healthy Holiday Season and New Year!
Thanks M! And the best to you and yours this holiday season and beyond as well!
First of all, big congrats on the success of your books sales thus far! No big surprise there!
If your entire book project had been an IPO, I definitely would have bought
stock in it!LOL!
You’ve shared a very astute marketing insight, with regards to the actual week after Xmas being a major
increase because of the desire and need to fill their new ereader devices that they just received as gifts!
I’ll guarantee you without knowing all the nitty gritty details, that’s an potential goldmine of currently untapped niche marketing
opportunities!
And a really astute new competitor could come in and specialize in that entire buying process after xmas rush and put together some extremely
lucrative JV’s!
And the other thing M, be sure you always include some type of page in your book, whether they’re physical and or digital, but especially
if they’re digital, where you direct your readers to opt in to get a free chapter of another one of your most popular
sellers and of course follow up with them via some type email follow up series and market the full version of the other
book and or books, at some type slight discount etc.
(Or inexpensively test offering two or three free books to your current paying customers that just purchase one of your books,
in order to further build your list of eager buyers! Because if they bought, you know they like your product! So leverage that
momentum and make some type of offer for either an online webinar, or series of even recorded tele-seminars or a podcast or something!LOL!)
That’s made to order, and practically a slam dunk (if there is one in marketing!) in terms of generating additional
revenue relatively easily.
The other thing you mentioned about the challenge with regards to being able to offer any type of effective referral program
in traditional sense. I think you’ve probably got to approach (creatively explore) keeping it separate from your traditional
book marketing efforts and look for and or create you own think outside the box potential referral marketing opportunities.
Because you wisely pointed out, those large traditional corporate distributors just place far too creative marketing constraints on you!
But still in all, I’m so glad your sales are humming along! Because your message is bringing comfort, empowerment and closure to so
many! Myself included!
I’ve found that holiday marketing can be really hit and miss, but each year I do a little more! I find webinars to product are good at this time of year, people often have more time than they thought!
That’s true Sarah!
Basically (somehow) we always seem to find both the time,
money and other resources, to do the things we really wanna do!
Funny how that works out, isn’t it?LOL!
I have been using the holiday season as a way to really show what products I find most useful. I use the trust that people have in me to spring forward businesses that I’m affiliated with and my own business. I have grown my business and my brand so much since Thanksgiving!
Excellent Heather!
And I’m so glad to hear that!
That’s what we all should be striving to do
as often as possible! The holiday season not withstanding!
Thank so much for sharing your real world results and being
an active part of the conversation!
Your incredibly valuable real world feedback is greatly appreciated!