First: Have you grabbed your FREE ticket to the Make Email Great Again convention yet?
I’m featured on a panel of 15 copywriters and email marketing experts. Sharing our best tips on how to make maximum money in minimum time from your (or your client’s) email list.
This simple little secret can lead to HUGE paydays…
Two days ago, I shared with you how you can get fast cash from your email list.
Yesterday, I released a video on the 7 Dimensions of an Irresistible Offer.
Today, I want to share the missing piece that will make BOTH of those fare more valuable, when combined.
And forgive me if this seems a little simple, a little elementary…
But sometimes it’s the simplest ideas that are the most profoundly powerful when simply applied.
A simple math lesson shows you how you can make a lot of money…
Okay, let’s do some really simple math.
How many sales, at $49 each, does it take to make $1 million?
Well, we divide $1 million by $49, and we can round up to 20,409 sales.
That’s a LOT of sales!
Now, let’s figure out how many sales, at $10,000 each, it takes to make $1 million…
$1,000,000 divided by 10,000 gets me…
Just 100 sales!
Now isn’t that interesting.
You could convince 20,409 to spend $49 each, and generate $1 million in revenue.
Or, you could convince just 100 people to spend $10,000 each, to get to the same amount!
I know, I know…
It feels like a simple and obvious illustration, but consider this…
20,409 customers spending $49 each are going generate at least 100 complaints, issues, and customer service requests. Especially if they are first-time customers.
The bandwidth and agony required to deal with 20,409 customers is pretty substantial.
And, often, people who spend less complain more.
When someone spends $10,000 on something, they often want some level of service, but they come at it from a completely different perspective. They are seldom crabby, and often just want the best experience from their investment.
(Pretty much regardless of what you’re selling, this is true — unless you’re selling junk, in which case people are rightfully complaining and you need to fix yourself.)
Not only that, you can deliver a better experience for a $10,000 product than a $49 product.
There’s far more margin per customer in $10,000 than $49, with very few exceptions. And I don’t care whether you’re selling a physical product or a high-margin group coaching program.
The more you charge, the more you can spend on delivering a delightful customer experience.
Likewise, $10,000 may be 204X as much revenue as $49… But it won’t cost you 204X as much to get a $10,000 customer.
You’ll spend more per customer to sift and sort them out, sure. But not 204X as much. So even just in this, you can spend ample amounts to get the more expensive customer and STILL spend a smaller percentage of your revenue.
In other words, your advertising has higher ROI.
Now here’s where this gets really fun…
I’m not saying you should avoid lower-ticket offers.
Just that you should always make sure you have high-ticket offers as well.
Because that’s where your business is going to make all the money.
This is one of the first things I covered in my interview for the Make Email Great Again conference — get your free ticket here.
In fact, when they created an action plan based on my interview, they called it the “Whale Hunting” promo.
Because I emphasized the simple fact that if you want to make a lot of money fast, you do that most easily with high-ticket offers.
What works really well is building a list with lower-ticket, entry-level offers. That’s how you bring a bunch of new customers in the door. Hopefully around break-even or better.
Then, run my “Whale Hunting” promo, selling a high-ticket offer. And generate a whole wave of cash.
(This is a fairly tactical way to implement my Most Valuable Customer Strategy.)
The best news about this is it’s actually EASIER!
Here’s the thing.
Acquiring a new customer is hard.
This is what the world’s best copywriters and marketers get paid the big bucks to do. And when it works really well, a business can grow at a ridiculous pace.
Selling to HAPPY past customers is easy.
They’ve already done business with you. They don’t have the same kinds of hesitation as they did when you were a total stranger. They don’t have the same obstacles of believability and trust to overcome.
And, because you’ve proven yourself once, they’re much more likely to spend a significant amount of money with you.
And so the selling can be more direct. The sales messages can be simpler.
Even though the ultimate offer is more expensive, the overall complexity factor of the sale is lower due to the preexisting relationship.
This is why at the best direct marketing companies, it’s often the B-level copywriters who end up with these projects.
These can STILL be one of your biggest sources of big paydays!
Simply because there are more dollars coming in through the door.
(Money doesn’t care how hard you worked to get it, it will spend just the same!)
I’ve done this over and over again…
Selling high-end solar power generators for $5k+…
Selling high-ticket investment and trading services…
Even my BTMSinsiders All-Access Pass falls into this category…
The key is to make something immensely valuable, that’s a great deal, that you can sell for a lot of money and still have people feeling like they’re getting a bargain.
Then make that offer in a way where the people who are most interested will step forward and take you up on it.
It doesn’t have to be right for everybody.
It doesn’t even have to be right for most.
In the example above, if you made your first million selling $49 products to 20,409 customers, it would be very easy to make your second selling $10,000 services to the top 100.
In which case you wouldn’t have even had to spend another dollar on advertising — just do my “Whale Hunter” promo! (Here’s one last link to the Make Email Great Again conference.)
Yours for bigger breakthroughs,