As Jim Collins says, I'd prefer to fire a few bullets before firing that cannon.
If you can sell 10% of them...its a deal, but that's probably a high target.
ok, thanks for replies - just as any fyi, i wouldn't be the add on, i would be the whole content of the email
My pleasure. That would definitely convert better. Assuming your sales page is top notch and you already know it works well, the numbers I posted at 1% conversion assume you're the main content. If you're anything less, it'd be worse.
But I could be completely wrong. If you try, will you share your results?
Justin: After hearing some feedback, its doubtful i will do that...
and your comment about: " advertising is the most expensive and least effective" has been my results of the small amount of advertising I have done so far...
but, list building is very slow - i would appreciate any ideas, suggestions, feedback
List building is very slow, Mia, but always worth it. The stuff worth doing usually doesn't happen overnight.
I have a list of 101 free and low-cost ideas that you can download at http://coachradio.tv/subscribe. Let me know what you think.
I am going through your list - thank you for it. I see that you mention google adwords - what is your experience with google adwords and your opinion of it, if you have time.
Right now, I have about 150 people on my email list.....
Out of those 150, I have probably sold a curriculum unit to 30 people - what do you think of that rate? My curriculum units are only 4.99, so its not like I generate alot of money per sale.
For the right business it's phenomenal. I'd have to do an in-depth study of the competition and pricing, and know what that business is selling, to be able to advise on it.
You've got a great conversion rate with your current newsletter. It's small, but that means it's well focused.
Thanks - I don't mean to take up all your time. ...so with that conversion rate and the price of the product, you can see that I would need to have a pretty large list though.....
That IS a great percentage of sales.
Can you develop add-on sales and up-sell these customers?
What if you start an affiliate program and use these 30 people to share to their friends...offer them a discount on future purchases if their friends buy...
Or, could you enroll them in free newsletters that will later invite them to buy more?
Offer a free members' only benefit for everyone who has bought anything so far and cut-it-off at the end of the year. Beginning in 2013, it becomes a new product for $3.00 per year. Make it worth the money by keeping it current and vibrant.
thank you so much for your ideas...i appreciate it...
i am trying to think thru that members only benefit...i have another science product that would typically follow the one that most people purchased, and it comes out in november...
sooo, can you spell out more what you are thinking? they already bought a 12 week one for $4.99, and the next 12 week is $4.99 - so how would i do that?
You can add access by video for a more personal feel: live Q&A by video chat or a YouTube link that answers their questions.
For $9.99 they can have three questions answered by video...and later those become part of the membership benefits archive.
When you scale this business, it can grow deep and wide.