Converting

Quick reference

• 00:04 In this video we're going to continue with step three, create a marketing plan.
• 00:10 Now we're gonna talk about converting, right?
• 00:13 So now you've got your marketing piece, you've got people who've read it,
• 00:17 people are engaged.
• 00:18 Now we're gonna talk about the conversion.
• 00:21 What happens when they say yeah, we actually do wanna buy what you have?
• 00:25 This is great, this is great.
• 00:27 So the first thing you want to do is you wanna look at the price
• 00:30 of the item they're going to buy that's called your core product, okay?
• 00:35 Remember, we talked about pick that one thing that you them wanted to do?
• 00:38 So in this example, it's buying a product, okay?
• 00:41 We pick one product, it’s got a core price,
• 00:44 this is it, click here or call us your emails, okay, whatever it is.
• 00:49 Now, once they agreed to buy that product,
• 00:52 your marketing's worked, the next thing you wanna do.
• 00:54 This is going to really help drive your ROI, okay?
• 00:58 Your Return On Investment in your marketing.
• 01:01 It's called the up sell.
• 01:03 The up sell.
• 01:04 It's going to help your numbers.
• 01:06 Because if you sell a core product, let's say it's 100 bucks.
• 01:09 Now you have an upsell of a product that's maybe 50 bucks.
• 01:13 Now they're in that buying mode, they're ready to go,
• 01:15 now you've just put another $50 in your pocket for example, okay?
• 01:19 So an upsell is an item that is a companion item.
• 01:24 It'll make whatever they just- the core product,
• 01:27 it'll help them get that result faster, or more in depth.
• 01:31 Okay, so here's an example.
• 01:32 Have you ever bought something from Amazon?
• 01:35 Something simple, like a toy.
• 01:37 That's great, right?
• 01:38 You buy this toy.
• 01:39 And I'm a dad, so I'll buy the toy and then all of a sudden it'll go through and
• 01:44 say people also bought batteries for this toy.
• 01:48 I'm like, man.
• 01:49 That's great because otherwise, I'd have this toy coming and
• 01:53 my kids would be all excited, and there would be no batteries in it, okay.
• 01:57 So I buy the batteries.
• 01:59 That's an example of an up sale, okay.
• 02:03 In my company, Pure Customer Service, for example,
• 02:05 I have an online program that people can buy.
• 02:08 So once they purchase that, the up sell is,
• 02:11 hey do you want to get results even faster?
• 02:13 Here's a group coaching, okay?
• 02:16 Here's a group coaching package that you can buy as well.
• 02:18 It's going to help you get those results even faster and more in-depth and
• 02:21 more personalized, okay?
• 02:23 So what is it for you and your company that you can offer an up sell
• 02:28 that's going to compliment your core product, okay?
• 02:31 If you're telling me right now, David, well, gosh, we don't have an up sell.
• 02:35 Get one, okay?
• 02:37 Think about what will go with it, it's huge.
• 02:41 Now, some people are going to click on it, or
• 02:44 they're gonna call you, or get an email, they're gonna get your core product.
• 02:46 They're like, gosh I really want it but
• 02:49 I can't really afford it right now, it's too expensive.
• 02:52 Now you have something called a down sell, a down sell.
• 02:56 It's an item that is expensive with maybe less features etc.
• 03:01 But what ends up happening even though it's less than your core product.
• 03:05 A you're still getting revenue but more important than that.
• 03:08 You're getting this prospect, and you're converting them to a client, okay?
• 03:13 So you're using your marketing funnel, right, to go from hey,
• 03:18 now they're just a prospect to now they're a paying client on the down sell.
• 03:22 Now you can market to them in the future, and
• 03:25 next time maybe they'll buy your core product.
• 03:26 And they'll buy the core product and the up sell.
• 03:29 Or they'll buy any other new products that you guys have.
• 03:32 Make them a client.
• 03:34 So, then down the line you can, you can connect with them.
• 03:38 So, psychologically, In their mind, they went from a prospect to a client as well.
• 03:43 And that’s a very different relationship, okay.
• 03:45 So you may even give a free book for example and I've seen this quite a bit.
• 03:50 An author will offer their free book right a $20 book for free, you just pay for
• 03:55 the shipping so it might be five or six bucks.
• 03:57 And you've only spent five or six bucks but
• 03:59 you're getting great value from that book and now you've gone from
• 04:03 a prospect looking at some bodies marketing to becoming an actual customer.
• 04:07 Does that make sense?
• 04:08 Okay, good.
• 04:10 So next, when you're creating your marketing plan,
• 04:12 you want to get yourself an advertising budget.
• 04:16 You have to do a budget.
• 04:17 I have a lot of people come to me, they don't have a budget.
• 04:20 And that's risky, okay?
• 04:22 That's risky when you don't have a budget.
• 04:24 You wanna make sure that you wanna look at your revenues.
• 04:26 You wanna look at your numbers, and pick a budget.
• 04:28 Whatever, it could be a percentage.
• 04:30 It could be a dollar amount.
• 04:31 But that's your advertising budget.
• 04:33 So whether,
• 04:34 because there's a lot that, people think that marketing is an exact science.
• 04:38 There's a lot of science in it, but a lot of it's luck and a lot of it's art, okay?
• 04:44 So we're gonna give you the best science piece of it and
• 04:47 also the artistic piece and then the luck piece, right?
• 04:51 So you want to make sure that when you're advertising,
• 04:53 you don't want to lose a bunch of money, okay?
• 04:56 So you can get an advertising budget that's daily.
• 04:59 You can set something daily.
• 05:00 You can set something weekly, monthly, annually, whatever that is.
• 05:05 So that way you don't get yourself into financial trouble with marketing or
• 05:09 advertising whether it fails or whether it succeeds.
• 05:12 You've got that area.
• 05:13 For example, I've got a client.
• 05:16 He owns a luxury travel agency and he was doing really well.
• 05:20 And he was going through a growth stage, he was hiring more people and
• 05:24 the business was growing.
• 05:25 And unfortunately, he got this idea, you know,
• 05:29 of this luxury, to take out an ad in a magazine, a luxury magazine.
• 05:34 And this wasn't just any luxury magazine.
• 05:37 This was an expensive luxury magazine.
• 05:40 Now it was talking to the people he wanted to talk to, right?
• 05:43 But there was a lot of different things,
• 05:45 especially with magazine ads, that's simply an eyeball thing, right?
• 05:49 And unfortunately, the ad didn't have these things we talked about,
• 05:52 the call to action, and all those different things.
• 05:55 And it was $90,000.
• 05:56 Now for this small business that was a big chunk of money.
• 06:01 And that money went, it came out, it looked great,
• 06:04 they did not get one piece of business from that advertising, okay?
• 06:09 So you wanna make sure and it was crippling to the company.
• 06:13 So you wanna make sure you have an advertising budget, and you wanna go
• 06:17 through all these different steps to make sure that you minimize that risk, right?
• 06:20 Because marketing is risky.
• 06:21 Let's be honest, okay?
• 06:23 So you wanna minimize that risk by going through these steps.
• 06:26 Makes sense?
• 06:27 Okay, good.
• 06:28 I don't wanna scare you but
• 06:29 I do wanna be real with you that these steps are important, okay?
• 06:33 So let's do a quick recap.
• 06:35 Converting, you want them to buy your core product, okay, whatever that is.
• 06:40 Make sure you have an up-sell: an item that's a companion item.
• 06:43 Make sure you have a down-sell,
• 06:45 an item that's less expensive that has less features, etc.
• 06:48 And make sure you put aside an advertising budget
• 06:50 that's no going to affect you bottom line too much one way or the other, okay?
• 06:55 You got this.
• 06:55 We'll see in the next video.

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