Earlier in the week I was listening to an amazing interview between Vince Reed and an individual from whom I have learned so much, Tim Erway. This interview is very important and something that everyone should hear.
But, for those who will not get a chance to hear the whole thing, I would like to cover some of the major points that were brought up. Tim Erway was discussing his “7 Pillars a Multiple 6 Figure Business” and provided copious information on why each point was so important.
I found this information very useful and figured I would go ahead and share my notes with all of you. I do this in hopes that you can gain the value from these words of wisdom that I have and be able to improve your own process to increase success.
- Target Market
It all begins with a working knowledge of your target market. If you do not have a clear image of your target audience and how you plan to reach them, campaigns you begin, leads you generate or traffic you drive will be inaccurate and random.
You need to know who you are selling to, their profile and personality. What do they like to eat and wear? What are their aspirations? What do they experience every day? What are their needs, fears and pains? All of these answers will help you create a precise and accurate marketing message that will be effective with the people you intend to reach.
This will result in ad campaigns with a clear marketing message that has the intended effect. This will lead to an improved relation with your audience and better results from your audience and lead list. After all you will understand their need and this in itself is highly attractive and essential for building trust.
- A Compelling Offer
This takes us to our next point which is creating the message that will be sent to the target audience you have in mind. If you are in the fitness industry marketing a special supplement and exercise program that transforms the smaller body type into a robust physique. Your offer needs to convey the value of what you are providing and how your solution changes their world.
This must be done in a way that inspires confidence that you know their problem better than they do themselves and have thought long and hard to bring them the exact solution at the perfect price. Hitting this sweet spot will take some clever calculations.
One important way to do this is to follow the 10X value, always sell your product as if it were 10X as valuable as the price you are asking for it.
- A Lead Capture Machine
“The money is in the LIST!” This is something we have heard a zillion times. But, in all truth, we could stand to hear it a bit more. The list is a solid gold mine and if you are not taking full advantage of your list building capacity you are missing out on major profits.
The statistics from the best Direct Response Marketers in the world prove this. There is only a slim 3% of passing traffic that will convert to paying customers at first contact. Then there is this giant 97% of traffic that will see your message and have great potential to convert to paying customers if they were only followed up and engaged.
This is where a lead generation tool would be really useful in ensuring not one visitor is allowed to escape from your marketing campaign. Lead generation allows you to reach out to the rest of the visitors that did not buy and give them another chance after building a better relationship with them.
If you are not capturing your leads and building a daily list, you are walking away from a major profit.
- A Sales Conversion Process
Now that you have an email program up and running and pulling traffic back to your online presence, you will need a sales conversion process to turn this attention to conversions. There are several important components of your sales conversion process.
- A capture page – for lead generation
- A Thank You Page – if you are selling affiliate products
- A Sales Page
- An Email Follow Up program
- Continual Value Based communications – including YouTube videos, podcasts, and blog posts, etc.
One great way to boost your sales as an affiliate is by adding a bonus for those who choose your offers. To do this effectively, think of your offer from the perspective of the consumer, what would they really like to see attached to the deal? Think of what is missing. This will lead you to fill the void with something that adds scarcity, urgency and additional value – these are difficult incentives to resist and a sure fire way to boost your sales.
- A Process To Increase Your Customer Value Over Time
You will then need to maximize the value of the customers and the deals you are offering them, this can be done in a variety of ways. For network marketers, use training programs and systems that will keep your network members attention.
If you will be selling affiliate products, make your sales and promotions according to the products with a good ascending sales funnel and a higher ticket backend offers as well as hefty commissions.
For those selling their own products, you will need to take full advantage of your higher ticket backend offers that will widen the profit margins and improve the value of your clients over time.
Here is something to consider, if you only have one offer to make to your visitors and prospects, a $27- Ebook. You will have to sell MANY ebooks to hit a respectable goal like $10k each month.
But another way to do this would be with a strong ascending sales funnel. If you are offering a $97 offer, a $297 offer and a $2000 offer, you will only need a relatively small number of customers to complete your goal. This greatly increases the value of your customers.
- A Place to Find Targeted Prospects
This all comes back around to the first point we made about knowing the avatar of your target audience. You can have the perfect marketing campaign in place but if you don’t have a good hunting ground picked out, so to speak, your quarry will never arrive. This will mean that sales conversions, page conversions and any other positive metrics will never get a chance to get off the ground.
But the good news is that there is a way for you to get ahead of the curve and locate your target audience where they tend to hangout the most, Facebook. After this all you will have to do is choose the most suitable ads and social media strategy to present to them. Tim Erway actually makes a fairly impressive training product on how to use Facebook more effectively.
- Regular testing & optimization
In the beginning you will be greatly focused on making sales and acquiring as many customers as it takes to do this. But, in the long run it will be how well you can learn from your process and improve your methods that will decide how many customers you end up with. Testing, tracking, traffic campaigns, upsells process and all other aspects of your marketing campaign will have to be analyzed for efficacy. This information must then be applied to optimizing your on going market efforts.
Final notes
In the end, Tim Erway really makes things simple and easy to understand and strings it all together in a simple comprehensive plan that can’t fail. So long as it is followed to the letter. To recap those important points, your marketing campaign must have:
- Target Market
- Problem Solving Offer
- A Lead Capture Machine
- A Sales Conversion Process
- Increase Your Customer Value Over Time
- Source Of Prospects
- Regular Testing And Optimization.
