The Dangers Of Using PLR Content

The Dangers Of Using PLR Content

Have you ever considered using PLR (Private Label Rights) content as your own?

Watch this first!

Please leave a comment below with your thoughts 🙂

Speak soon!
- James Francis.
Founder & CEO, Digital Prosperity.

One Quick Squeeze Page Addition Which Increases Sales (Traffic Tuesdays, Episode 10)

Getting opt-ins/subscribers but no sales? You're probably missing this one simple addition to your squeeze page which nearly always increases sales AFTER people opt-in...

Want me to test more proven ideas like this FOR you? Let's talk about me running your Facebook Ad campaigns and front-end optimization FOR you.

Enjoy!
- James Francis.
Founder & CEO, Digital Prosperity.

Pricing

5 Different Ways To Price Your Product

One of the best ways to increase your conversion rates on your products is to test different prices.

After all, some people may not think your product is as valuable as you do, OR they may think it sounds more valuable than the price you're charging, so surely something must be wrong with it. You have to strike that careful balance.

So here are 5 different ways to price your product...

1) One-time price

This is the most common way business owners price their products.

It's a pretty popular price for the customers, as just the one payment will give access to the product or service for life.

2) Recurring price

Most often associated with a membership (or "continuity") program, the customer purchases the product knowing they're entering a subscription, which usually bills them the same amount on a monthly basis. They can cancel at any time by contacting your support desk or customer support email address.

Because of the ongoing price, it's best to use this type of pricing strategy with a product that provides ongoing value.

For example, Netflix is always updating their archive of movies and TV shows, so they charge a monthly fee for that ongoing value.

So if you're selling a members area where content is being added to it regularly, along with a community or support group of some kind, it's probably best you use a recurring price which matches the amount of value you're providing to people.

3) Split payment

Another less-known pricing strategy to use is the split payment plan. This is essentially two payments of the same amount, usually one month apart.

The main benefits of using this are that your customers can access the product straight away at half the price to begin with, making it more affordable for people.

However, I've sometimes found that just simply adding the same price you'd charge for the one-time payment to another payment next month increases the total profit - without affecting the initial conversion rates too much.

So for example, if you usually charge a one-time price of $97 for your video course, try turning the price into two payments of $97, one month apart. You may be able to massively increase your profit without any extra effort.

Or, for more expensive products or services, I'd recommend adding a split payment option to the sales page. We do this for our Done For You Prosperity sales funnel set-up service, and have increased the profit on that offer massively because of it.

4) Payment plan

For more premium ("mid-ticket" and "high-ticket") offers, it's always worth offering a payment plan.

However, this strategy is at its most powerful when offered as a downsell to the original price.

So in other words, you should only offer the payment plan when people say they are interested in buying the product but can't physically afford the full price upfront.

By asking them what monthly amount would be comfortable for them, you can create a monthly payment plan that suits them - which is going to be tough for them to turn down as they helped you to create the deal.

Just be sure that when you're creating a payment plan, you don't end up with customers still owing you money after the program has finished or the service has been delivered, otherwise they lose the incentive to continue their payments.

5) Trial period

Sometimes you'll have a great product or service, but it seems like a big commitment upfront and people are a little timid about it.

For example, entering into a monthly subscription for a monthly membership program can be a little daunting, as they imagine themselves being stuck into the contract forever (even though they can cancel at any time). This is why conversion rates are typically lower for ongoing membership programs.

So to overcome this resistance, you can offer a free or $1 trial before the main subscription begins.

In our business, we offer a 30-day free trial for our Digital Prosperity Insiders program, which allows people to go through the initial content and see what the program is all about before committing to anything long-term.

Although, this strategy only works when you're delivering immense value upfront, so it'll make people feel like it's a no-brainer to continue receiving this kind of content for the relatively small monthly price they'll be paying.

Another place to use this strategy is within your upsell sequence, after your customers purchase your front-end product.

As they haven't yet had time to go through the main product, it's going to be difficult to get them to buy another information-based product at that point.

So we overcome this by offering a free 3-day trial for our Facebook Ads workshop, then they pay one payment of $97 if they decide to keep it. This gives them 3 days to check out everything before committing to anything, which lowers their resistance to saying "yes!" to the unexpected offer within the upsell sequence.

Using all these pricing strategies in your online business is sure to make a huge impact on your sales, as it's often just a small tweak that creates the biggest wins.

However, if you're unsure which pricing strategy to use, I'd recommend setting up a split test to see which works best for each product. This will tell you which resonates best with your audience, and therefore which makes you the most overall profit.

Have a great day!
- James Francis.

P.S. Which of these pricing strategies have you tried for YOUR products? Let me know in the comments section below!

Exit Popups

Why I Don't Use Exit Popups (And You Probably Shouldn't Either)

Earlier today, one of my coaching clients asked me if I used exit popups on my website. Which is a great question!

The answer is "no" - but before I get into my reasons for that, let's back up a little....

If you're not sure what an exit popup is, it's a script which makes a little confirmation box appear on your web page when your prospects try to close it.

We're not talking about about a window that sometimes appears when you move the mouse towards the top of the window - those are different (and a lot more ethical).

Here, we're talking about the confirmation box that appears when you physically click the "close" button to close the web page, which usually ask if you want to leave while bribing you to stay.

The typical message is usually something like, "hey, don't go! The terrorists will win and you'll miss out on this awesome thing!". You get the idea.

As recently as 2013, I was using them in my business because everyone else was. Fatal mistake!

Because after looking at my website analytics, I had to stop using them.

Here's why...

From a marketing perspective, the logic behind an exit popup is that the majority of people who land on your web pages don't take any kind of action at all.

When people visit your sales page, over 90-95% of people won't buy.

When people visit your squeeze page, around 30-60% of people won't opt-in for your free content (or "lead magnet").

So the exit popup is there to convert as many people as possible before that chance is over.

Obviously the more people you can get taking the action you want them to take, the higher your results will be, right?

Not always.

See, when people try to leave your web page, they've already shown you they're not interested.

Maybe it's not the right topic for them. Maybe they're not in the mood. Or maybe they just don't have time at that specific moment.

In other words, those people are "less than ideal" prospects at that point.

If you DO persuade them to opt-in, they're not going to have the same enthusiasm as the people who did so without being pushed into it.

They won't pay attention to your offers, they won't consume your content and definitely won't open your emails - because they'll see you as "that marketer who forced me to opt-in".

Would you open emails from a friend who wouldn't leave you alone until you became friends with them?

The same principle applies here.

Oh, and if you DO persuade them to buy through an exit popup, they'll either refund, cause problems with your support desk and/or don't convert as well through the upsell process as the customers who bought without being hard-sold into it.

From my own experience, back in 2013, I showed an exit popup to half of my visitors to offer a $1 trial when people closed the window of my Six Figure Shortcut blueprint. The extra trial sales started pouring in. "This is great!", I thought.

But looking closer at my analytics, around 10% of those people refunded their $1 (yes, true story!), and around half of them cancelled before the 7-day trial was over and they were re-billed at $27.

As for the people who left the page without seeing the exit popup...

They came back to the same page a few days later after receiving some emails from my automated follow-up sequence, and converted at full price without any issues - AND they were better customers - because at that point, they had realised it was right for them (instead of buying based on curiosity).

So I switched off the exit popup and my total profit went up.

Another downside is that the people who still don't take action after seeing the exit popup see you as a pushy "snake oil salesperson", so you have even LESS chance of getting them to take action in the future.

Plus, aside from attracting the wrong people in the wrong mindset into your business, the other major downside is that most PPC networks (such as Facebook Ads, Google AdWords, etc) will ban your account if you repeatedly advertise a page with an exit popup. No exceptions.

The way they see it, you're being unethical because you're interfering with the prospect's browsing experience.

So treading on thin ice like that definitely isn't a great way to run your business.

Instead, I've found a much better way to increase your conversions is to let your follow-up sequence do the persuading.

That way, they'll be enthusiastic about taking the action you want them to take and be a much better customer, in terms of their satisfaction and what they buy afterwards.

And of course, you can't follow up with them if they don't opt-in via your squeeze page in the first place, right?

Well that's what retargeting is for.

Set up a simple ad that says, "Not interested in [topic]? Here's a different guide which reveals [benefits of another piece of free content]...", sending them to a different squeeze page for that different piece of free content, then show that ad ONLY to the people who visited your squeeze page but didn't opt-in.

This way, you still appeal to your prospects' natural desires, instead of forcing them to take action through annoyance - which never ends well.

Have a great day!
- James Francis.
Founder & CEO, Digital Prosperity.

Marketing Hook

How To Improve Your Marketing Hook In Just A Few Minutes

In last week's live coaching session for my Zero To $10k Coaching Program, we reviewed the marketing hook for one of my clients' squeeze pages.

Your marketing hook will make or break your online business, so you need to make sure it's compelling enough that your prospects would crawl over broken glass to get to it.

So here's how we turned a struggling hook into an irresistible customer magnet....

Have a great day!
- James Francis.

Redefining Failure

Redefining Failure

When growing your online business, it's easy to feel like you're constantly "stuck in a rut" or in a constant state of failure. And of course, failure is painful (physically and mentally) - that's why we try to avoid it.

However, failure is an essential part of your everyday life, and happens to everyone.

Every day, I fail at least three times in my business. Whether it's a new split test idea, marketing campaign, traffic generation tweak, technical gremlins or similar, I wake up in the morning already knowing that things probably aren't going to go the way I'd like - and that's ok!

How can I be so confident? Because I know I'm still heading in the right direction overall – and assuming you're actually making some progress in your business, you should too.

If I (just a normal guy who used to work in a grocery store) can do this - not to mention thousands of other people around the world who have overcome their failures and are now living their dreams, so can you.

Instead of succumbing to failure and letting it control you - or worse, NOT taking as much action as you should for the fear of failure – you need to just accept it as an important part of the journey.

Like a muscle, if you don't stretch yourself by failing all the time, then your business isn't going to grow stronger as a result of those failures.

In other words, don’t worry about the failures. It's all about continuous improvement.

If a lower amount of your traffic converted into leads than you expected, that's not failing. That's just your campaign giving you a benchmark to improve upon in the future.

If you're paying too much for your advertising, then does it mean your entire business is doomed? No! You can simply tweak your ads to cost less per click.

If you're not converting enough of your leads into sales, then is the universe going to collapse in on itself? Of course not! You can now improve every element within your sales process and make your website copy more compelling.

Plus, if you're regularly failing, you aren't truly "failing" anyway, as true failure is when you've exhausted all possible options and you have nowhere to turn. Anything less is just a small bump in the road towards your destination.

So take a minute to redefine your failure right now. You’ll not only feel a lot better about your progress so far, but also the opportunities waiting for you in the future, too.

Have a great day,
- James Francis.

3 Awesome Split Tests

3 Awesome Split Test Results

The best way to improve your results is by split testing a new page against an old one, to find out which version gets the most results.

Alternatively, you can just ethically “steal” the results from other people’s split tests and implement them into your own sales funnel to shortcut the entire process.

Well here are 3 of my best split tests ever, taken from last night's live coaching session…

 

Click Here To Access The Full 1 Hour 47 Minutes Recording

Don’t forget to leave a comment below with your thoughts, too 🙂

Talk soon!
- James Francis.

Do Higher Prices Mean More Profit?

Do Higher Prices Mean More Profit?

There’s one question which has been plaguing information marketers for years…

“What should I charge for my product?”

After all, if you increase the price, surely you’ll make more profit, right?

The answer is… Not always.

It vastly depends on where in your sales funnel your product will be sold from.

Sure – you can make a heck of a lot of money by charging super-high fees for your valuable services, but you’ll have a tough time selling them to people who are scared to spend anything above $97.

This is why (from my experience) high-ticket products usually convert better when presented to existing customers, i.e. in the “back end” of your sales funnel.

But what about near the start of your sales funnel?

Well a few months ago I tested just that.

For one of my earlier sales funnels when I was using a PLR product as my One-Time Offer (i.e. the offer presented to a prospect when they opt-in to your email list), I needed to find out which price made the most money.

So I set up a split test for it.

On one page I listed the product at $7, and on another page I listed it at $17, then split the traffic between the two using Google Content Experiments.

Here were the results…

If math isn’t your strong point, 5 sales of $7 comes to $35 – which is more than double what I earned from pricing the product just $10 higher at $17.

Pretty shocking, right?

But if you think of it logically, when people have just joined your email list, they usually have no idea who you are and they haven’t yet built up any trust for you. So offering them a product at a low price is a very low risk situation for them.

(But saying that, I currently do very well when offering our $497 “done for you” solution as my one-time offer, as it’s exactly what most people are looking for. It all depends on the quality of the sales copy – so always test it for yourself.)

Plus, the added benefit to selling products at a lower price is that you gain a lot more customers onto your email list, who can then go on to buy your higher-priced products.

However, when a customer has already shown you they’re comfortable paying a certain dollar amount, the results are the opposite – you should always promote similar or higher-priced products to them, as it’ll increase your lifetime customer value (“LCV”) – i.e. how much money you earn from every customer you gain.

So there are two morals to this story…

1) Always split test everything. I would have previously assumed that the higher price would have made more money, and if I just changed the price without testing it, I’d have left a lot of extra money on the table.

2) When choosing a price for your product, map out your sales funnel and decide where it’ll be placed, then increase the price depending on how deep into your sales funnel it’ll be offered. For example, if you want a product to be your main flagship product which can be marketed to the masses (i.e. the front-end of your sales funnel), split test a few lower prices (i.e. below $50). But if you want to offer an exclusive one-on-one coaching program, you can physically only take on a limited quantity of clients at any one time, so test some higher prices at the back-end of your funnel.

Remember – never assume! Always find out the actual results for yourself, as your online business will be a lot more profitable because of it.

Talk soon!
- James Francis