Monthly Archives: March 2011

Lessons of a Last-Minute 6 Figure Product Launch (Part III)

As a recap, here are the first 2 parts of this ongoing series taking you “behind the scenes” of a six-figure launch in just a few days…

Part I – Don’t Be THAT Guy
Part II – The EPC Myth

Now, during Part III I will share one of the biggest secrets that got affiliates to mail over and over again.

Screw the iPad!

If you’ve ever been part of a product launch, most often they give prizes to the affiliates.

These prizes can be for any number of things including..

  • Generating a specific number of sales
  • Generating a specific number of leads
  • Finishing in the Top 10
  • Top 3 sales for a 24 hour period
  • Top 3 leads generated for a 24 hour period
  • And many more iterations of the above

And just about every single launch I’ve been a part of gives away the same types of affiliate prizes over and over again. It’s usually ipods, ipads, macbooks, xbox, playstations, etc.

BORING!!!

In my market for this launch (fellow Internet marketers), I wanted to do something different. After all, if you already have 3 iPads, is another one really going to give you that push to promote hard? Probably not.

Viva Las Vegas

Instead of offering the ‘typical’ prizes, I decided to up the ante.

I was offering an experience.

For anyone that finished in the Top 10, they would come to Vegas on my dime for 2 days of masterminding and fun.

They would get free airfare, free hotel room for 2 nights, VIP entrance into the hottest clubs, free dinner at the best restaurants, cabana at the pool and much more…

Remember, the Vegas experience was something you CANNOT buy. You would have to earn your way to Vegas to hang with me and the other Top 9.

And let me tell you, no one wanted to be left out of the Top 10.

People mailed over and over again for Nano Continuity.

They created bonuses to their list just to buy through their link.

The Payoff

I did a similar contest years ago in the fitness industry. I flew out some of the biggest names in the fitness industry who finished in the top of my launch to Vegas for 2 days. Guys like Mike Geary, Craig Ballantyne, Vince Del Monte were all there.

They all had a great time. It helped build even stronger bonds between us. And it’s something we all still talk about.

The Risk

Was it a risk?

Absolutely.

You must know your numbers first before you can commit to spending a lot of affiliate prizes or experiences. But you can certainly offer a scaled down experience of your own if it’s your first product launch.

The “Top Dogs”

The “Top 10″ Vegas contest was great to motivate the affiliates ‘on the bubble’, but what about motivating the people to get into the top spot?

I’ll cover that strategy in the next update…

In the meantime, don’t be left out in the cold. Get on the “inside” for just $1 here.



SAM Scholarship

Andrew Lock and I are giving away 6 scholarships to SAM on April 15/16th in Park City, UT. (www.samretreat.com)

The attendees and speakers are like a “who’s who” of business and marketing. Here are just a few of the confirmed attendees…

  • Perry Marshall – Adwords expert
  • Rich Schefren – Business coach
  • Mike Koenigs – Social media marketing expert
  • Mike Hill – Traffic guru
  • Kristi Frank – Star of Season I of Donald Trump’s Apprentice
  • Chris Farrell – Information marketing coach
  • Mike Faith – Founder of Headsets.com
  • Tom Collins – Behind the scenes of $125 million dollar membership site
  • James Malinchak – Big money speaker and star ofA ABC’s The Secret Millionaire’
  • Alex Mandossian – Respected business and marketing expert
  • Gary Goldstein – Producer of blockbuster movie Pretty Woman
  • Jim Kwik – World’s leading memory coach
  • Sam Cawthorn – Australia’s Entrepreneur of the Year
  • Jimmy Vee and Travis Miller – Marketing coaches and authors of “Gravitational Marketing”
  • David Sinick – The “Real World Traffic” guy
  • Tracy Childers – Co-creator of Wishlist Member
  • Garrett Gunderson – NY Times Best-Selling Author of “Killing Sacred Cows”
  • Gail Kingsbury – The most connected woman in business!

And too many more to name…

Each speaker has just 21 minutes to give their biggest business breakthrough. ZERO pitching is allowed.

It’s a unique experience unlike anything you’ve ever attending.

The networking alone will be life-changing.

Plus, we have a special solo acoustic performance by a person who has a number of #1 hits, sold over 40 million albums and has won a Grammy. (ok, it cost us a lot of money for this entertainer, but we really want to make this entire event an experience, not a stuffy seminar!)

GET A SCHOLARSHIP

Tickets cost $4,000.

If you’d like to apply for one of the 6 scholarships, just reply in the comments below. Tell me about your business and why you’d like to attend SAM.

And I’ll see you in Park City…


Lessons of a Last-Minute 6 Figure Product Launch (Part II)

In this ongoing series, I’ll share some BIG insights I’ve learned during my latest product launch of Nano Continuity. In Part I, I talked about the importance of attending live events to develop rock-solid relationships. Now, let’s give into Part II – the EPC myth.

What is EPC?

EPC stands for “Earnings Per Click”, it’s the average amount of income you earn when someone clicks your link. And most big affiliates want to know that number. For example, let’s say you are promoting a $100 product that pays you $50 per sale – if you send 100 “clicks” to that page and make 3 sales, your EPC is $1.50.

  • 100 clicks
  • 3 sales (x$50 per sale)
  • $150 in commission
  • Each click is worth $1.50

If you pay good commissions and have a strong conversion rate, your affiliates will have a bigger EPC. And that’s what most really care about. So it falls on your shoulders to provide a compelling offer that converts well.

A majority of affiliates fall into this category of measuring EPC and that’s it.

BUT…

The “Other” Affiliates

There are some affiliates who have a really strong relationship with their list. They don’t care much about EPC. They only care about sharing the best products with their subscribers. And because the trust level is so high, as a result their EPC ends up being higher anyway.

These affiliates always review the product first. They offer special bonuses. And they personally endorse it. We had some affiliates without a strong list relationship that had low EPCs of $.33 and we had some with an EPC of $5.00 and higher.

Same product. Same offer. Different relationship.

There is a Choice

The ideal situation is to have a great offer with compelling copy that provides tremendous value. A lot of my original students in the health/fitness space have done that with integrity (the list is a mile long, but here are just a few examples of people doing it right… Mike Geary, Isabel Del Los Rios, Vince Del Monte, Joel Marion, etc.) and their bank account is proof.

But sometimes you have to make sacrifices. I could have sold more if I had made outrageous promises with Nano Continuity. Fake paypal screenshots and headlines that promise wealth with no effort would have certainly increased the EPC for my affiliates.

That would have made me more sales up front, but it would have been more harmful in the long run. This shortsighted approach would have led to…

1. More refunds. Some of the big “clickbank” offers that overpromise and underdeliver have refunds up to 50% (ours is around 3%). Remember, it’s not what you make, it’s what you KEEP that matters.

2. No trust. You will lose trust and never be able to sell them more products/services in the future. So your list will have no value. It’s much easier to resell existing customers than to try and find new customers.

3. No continuity income. Forget having these new customers signing up for your continuity programs now, or in the future. And you know how much I love continuity :)

4. Bad name. With social media, discussion forums and the viral nature of the internet, if you provide a sub-par product or wrong your customers – word will spread like wildfire. And people are just a google search away from seeing all the pissed off customers.

5. More Customer Support. More refunds and more chargebacks = more customer support. And that means more costs for you!

So there you have it. Figure out the magic mix of compelling copy with a great value that also earns a nice EPC for your affiliates.. and you’re home free.

Coming in Part III of this series, the “secret” to get affiliates to mail over and over again for you…

**As always, feel free to post your comments and questions below. If you’d like to get more of the insider secrets and access to 2 new products a month from me, click here.


Lessons of a Last-Minute 6 Figure Product Launch (Part I)

Last week I, with the help of my affiliate manager Jit Uppal, put together a super-fast product launch.

From product idea to affiliate recruitment to launch was just a few weeks. In today’s market with new products every day and email schedules booking up months in advance, it was almost unheard of. And we still hit six figures in sales.

I learned a lot of valuable lessons during the process. And I’ll share these lessons in bite-sized chunks during the next few weeks.

LESSON #1: Get Face-to-Face

Ok, this one might sound like common sense, but it was key to having people get behind us on such short notice.

Just about every person who mailed for us was someone we have met in person, often numerous times. I’ve said it before on this site, but I can’t stress how important it is to step away from the computer, get off your ass and go to LIVE events in your market.

There’s NOTHING that comes close to looking someone in the eye and shaking their hand. Email, phone, chat or skype can’t hold a candle to meeting someone in person. Not even close.

Don’t Be THAT Guy

When you meet someone at an event, don’t be “that guy”. You know who I’m talking about. The annoying person. The one who always wants to talk business. The one who is there every time you turn around.

Go there with the intention of meeting people and asking those magic words… “How can I help you?”

And for goodness sake, loosen up and have fun. Laugh, smile, and don’t be so serious. No one wants to be around a big fat bore!

Annoying plus boring is a deadly combo :)

Attend AT LEAST 2 Live Events a Year

If a guy like me with 4 young children can make sure to attend at least 2 live events a year, you can do the same. It’s THAT important to your bottom line.

Just make sure the events are in your market.

For example, if you want to sell products to professional DJs, then go to Association events for DJs. Only going to “internet marketing” events and skipping the DJs is not a good idea. You can go to both, but don’t miss your market events.
That’s lesson #1. Again, it might sound like common sense, but it really was a KEY part of getting affiliates to mail for us (and push other programs off their calendar).

Coming soon. Lesson #2.. The EPC myth…