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C.V.O. build AN UNSTOPPABLE BUSINESS
| Date post: | 22-Nov-2014 |
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Marketing |
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C.V.O.�build
AN UNSTOPPABLE BUSINESS�
YOU’VE FINALLY FOUND IT�
THIS IS DESIGNED FOR THOSE UNFAMILIAR WITH
DIGITAL MARKETER �
STUCK�You see…All marketers and entrepreneurs are
at various levels of
THIS PRESENTATION IS HERE TO HELP YOU UNDERSTAND THIS
DIGITAL MARKETING �“STUFF” �
AND BY �“STUFF” WE MEAN… �
The Systemà
It’s the same system Starbucks and McDonald’s have used to corner the coffee and hamburger markets. It’s the same system Amazon uses to dominate ecommerce. It’s how Best Buy, Beach Body, and Sports Illustrated have become household names. Ryan Deiss
Founder/Managing Director, DigitalMarketer
THIS SYSTEM WORKS FOR SMALL AND
ENTERPRISE �BUSINESSES. �
It works because it exploits each and every aspect of the Irrefutable Law of Business Growth put forth by legendary marketer Jay Abraham
There are only 3 ways to grow a business… • Increase the number of customers • Increase the average transaction value per
customer • Increase the number of transactions per
customer
We call it Customer Value Optimization
�OR… CVO. �
The following flowchart outlines the CVO system.
Download a PDF version here
Print this PDF version and tack it to the wall next to your workstation. If you plan to execute this plan, you’ll need to reference it often.
THIS IS A WARNING: �There is little profit in understanding Pay Per Click, Advertising, or SEO in and of itself. There is ENORMUS profit in understanding how to apply these traffic strategies to the CVO Process.
q Determine Product/Market Fit
q Choose a Traffic Source
q Offer a Lead Magnet
q Offer a Tripwire
q Offer a Core Product
q Offer a Profit Maximizer
q Create the Return Path
Here are the steps we’ll cover:
Some of these resources are available on the Digital Marketer Blog. Other resources are for sale in the form of training courses or are available in the Digital Marketer Lab members area.
We’re about to reveal the exact process we use to sell products and services in multiple markets and mainstream verticals. Let’s begin with...
There may be nothing more important than choosing the correct market because every other part of the process is dependent upon having a group of willing and able buyers.
NO AMOUNT OF WORK OR LUCK WILL HELP IF YOU
DON’T HAVE A WILLING AND ABLE MARKET.�
Maybe you’ve been told that you can build a profitable business around any topic you are passionate about.
WRONG. �
If there is not a sustainable market for your products and services, all the time you invest in building your business is a complete waste of time.
q The market is big enough
q The market is monetizable
To confidently build a business around a market you must determine whether:
q 30,000+ Google searches per month on your top 3 keywords
q Active blogs
q Active Facebook Pages
q Active Forums
q Active Email Newsletters
q Active associations
To determine if the market is large enough, look for:
To determine if the market is monetizable, look for:
q Direct competition– They are doing exactly what you do. This is good.
q Indirect competition– They are selling to the same market, but don’t sell what you do.
q Affiliate offers– Check Clickbank, Share-A-Sale, and Commission Junction for related affiliate offers
q Advertisers– Where there are well-known advertisers, there is money
q Gurus– Look for influential people in your market
q eCommerce Sites– Find sites that are selling products to this market
These are all rules of thumb of course. If, for example, you don’t find an active forum or your keywords don’t add up to exactly 30,000+ you may still have a viable market.
THAT SAID, THE MORE OF THAT CRITERIA YOUR MARKET MEETS… �
THE MORE LIKELY YOU ARE TO SUCCEED. �
This might shock you, but you DO NOT have a traffic problem. Here’s why… What if I told you that every time you get a visitor to a web page you make $10 in profit? Could you get traffic to that web page?
HECK YES YOU COULD. �
You could pay $10 to get a visitor to that web page and still break even. In fact, you’ll be able to pay more than $10 to get a visitor to that page when you truly understand the whole of CVO.
I’ve often said “He who can pay the most to acquire a customer, wins.” Once you understand CVO, you become unstoppable. Amazon.com sells on the thinnest of margins knowing that aquiring new customers, selling them more, and selling to them more frequently is how you become unstoppable.
Traffic is not a problem.
Google, Facebook, Twitter, and LinkedIn (just to point out the obvious) are lining up to sell you targeted traffic.
WE CAN TEACH YOU TO DRIVE TRAFFIC THROUGH TACTICS LIKE BLOGGING, FACEBOOK ADS OR EMAIL MARKETING. BUT FIRST… �
You simply need to understand: • How to measure what traffic is worth • How to extract maximum immediate value from
that traffic. Tactics are worthless if you don’t understand the CVO process.
THE GOAL IS TO DRIVE PROSPECTS INTO THE CVO FUNNEL.�
Become a master of a single, steady traffic source. Stay focused on that traffic source and, once mastered, add a second and third traffic source.
These traffic sources include…
• Email marketing
• Social Advertising (Facebook/Twitter/YouTube ads, etc)
• Banner Advertising
• Blogging
• Organic Social Media
• SEO
DM Blog Traffic Resources
• How to Build an Email Marketing Machine
• The Complete Guide to Facebook Advertising Targeting Options
• The Ultimate List of Blog Post Ideas
• Copy & Paste our Best 101 Email Subject lines
• How we Grew a Blog from ZERO to $6 Million…
• 11 Reasons to Buy Traffic From Google AdWords
• Do Not Miss this Template to SEO Your Website [Excel Download]
Our Traffic Training Courses:
• Authority ROI
• The Machine
• Whale Method
• Native Ad Academy
• Facebook Ad Power
YOUR TRAFFIC STRATEGY BEGINS AND ENDS WITH DRIVING VISITORS INTO THE CVO FUNNEL. �
THE CVO FUNNEL BEGINS WITH THE LEAD MAGNET.�
The next two steps (offer a lead magnet and offer a tripwire) show you how to grow your business through the fist of Jay Abraham’s methods, increase the number of customers.
THE LEAD MAGNET IS AN IRRESISTIBLE BRIBE THAT GIVES A SPECIFIC CHUNK OF VALUE TO A PROSPECT IN EXCHANGE FOR THEIR CONTACT INFORMATION. �
Make no mistake, although no money changes hands, this is a transaction. And, it is often the first transaction you will have with a prospect. You will need to provide tremendous value with the Lead Magnet.
The Lead Magnet is usually offered on a web page called a landing or squeeze page that’s optimized to convert even cold traffic into leads.
The landing page doesn’t need to be fancy. This is a high-performing Lead Magnet Landing page from one of our businesses in the Kindle publishing niche.
THE LEAD MAGNET EXISTS TO INCREASE LEADS. BECAUSE IT’S AT THE VERY TOP OF THE CVO FUNNEL, INCREASING OPT-INS HERE WILL PAY DIVIDENDS THROUGHOUT THE REST OF THE SYSTEM.m. �
What irresistible bribe could you offer in exchange for a prospect’s contact information?
DM Blog Lead Magnet Resources
• 9 Lead Magnet Ideas and Examples (And ONE That Generated 28,507 Subscribers)
• [Funnel Critique] See DM Lab and DM Team Members Critique a Live Conversion Funnel
Our Lead Magnet Training Courses
• The Napkin Project
• The Machine
THE MORE LEADS YOU GENERATE THROUGH THE LEAD MAGNET, THE MORE TRIPWIRE OFFERS YOU’LL MAKE. �
If you understand and execute on this step, you’ll be ahead of most of your competitors. Remember, our first goal is to increase the number of customers. So far, we have only generated leads through the Lead Magnet. We still haven’t generated new customers.
THE TRIPWIRE OFFER IS MADE TO THOSE THAT HAVE DISPLAYED INTEREST THROUGH THE LEAD MAGNET. who �
THE TRIPWIRE OFFER IS MADE TO THOSE THAT HAVE DISPLAYED INTEREST THROUGH THE LEAD MAGNET. who �
The Tripwire is an affordable offer, usually between $1 and $20. In markets selling high-ticket products and services, Tripwire offers as high as $500 can convert well.
THE GOAL OF THE TRIPWIRE IS TO FUNDAMENTALLY CHANGE THE RELATIONSHIP FROM PROSPECT TO CUSTOMER. THE CONVERSION OF A PROSPECT TO A CUSTOMER, EVEN FOR $1, IS MAGICAL. �
The key is to make a Tripwire Offer that leads are unable to resist. The most common way to make the Tripwire irresistible is by selling it at cost and, in some cases, at a loss to you.
THAT’S CORRECT. YOU’RE NOT TRYING TO MAKE A LIVING FROM SELLING TRIPWIRE OFFERS.�
You are trying to acquire buyers because there is nothing more valuable than a list of buyers.
WHEN YOU UNDERSTAND THE REST OF THE CVO PROCESS YOU WILL UNDERSTAND HOW THE TRIPWIRE OFFER IS THE MOST POWERFUL ADDITION YOU CAN MAKE TO YOUR BUSINESS—EVEN THOUGH YOU MAKE NO DIRECT PROFIT FROM IT. �
A Classic example comes from Columbia Records. They took over the music market by making an absolutely irresistible offer because hey understood that acquiring a list of buyers is the name of the game.
Tripwires are all around us.
It’s the ridiculous flat screen TV deal at Best Buy. It’s the rock-bottom price of a Kindle Fire. It’s the $20 for $50 worth of Mexican Food Groupon offer.
Convert the maximum number of Lead Magnet leads into paying customers, even at the expense of your profit margin, with the understanding that acquiring a paying customer will deliver profit through the next three steps: • Core Offer • Profit Maximizer • Return Path
DM Blog Tripwire Resources
• How to Calculate Average Customer Value (ACV) and Why It Matters
• How to Optimize the Most Important Pages in Your Marketing Funnel
• [Funnel Critique] See DM Lab and DM Team Members Critique a Live Conversion Funnel
Our Tripwire Training Courses
• The Napkin Project
• The Machine
OK, NOW THAT YOU UNDERSTAND HOW TO INCREASE THE NUMBER OF CUSTOMERS, LET’S TALK ABOUT INCREASING THE AVERAGE TRANSACTION VALUE PER CUSTOMER. �
YOU LIKELY ALREADY HAVE A CORE OFFER. �
MOST BUSINESSES GET NOWHERE BY MAKING CORE OFFERS TO COLD PROSPECTS. �
YOU’LL SEE YOUR CORE OFFER SALES EXPLODE WITH THE ADDITION OF THE LEAD MAGNET AND TRIPWIRE OFFER. �
AFTER ALL, YOU’VE ALREADY HAD TWO SUCCESSFUL TRANSACTIONS WITH THIS BUYER.�
In some cases, sales from the Core Offer will make you profitable. But it doesn’t have to. If you follow through with the CVO process, you could take everything you make from the Core Offer and reinvest it to acquire more customers.
AGAIN, THIS IS HOW YOU BECOME UNSTOPPABLE.�
You build a system in which you can spend more to acquire a customer than your competitors; they’re making a Core Offer and trying to make a living from it. You don’t need to make a dime from your core offer.
DM Blog Core Offer Resources
• How to Calculate Average Customer Value (ACV) and Why it Matters
• How to Optimize the Most Important Pages In Your Marketing Funnel
• [Funnel Critique] See DM Lab and DM Team Members Critique a Live Conversion Funnel
Our Core Offer Training Courses
• The Napkin Project
• The Machine
NOW HERE’S WHERE THINGS GET VERY INTERESTING… �
The second of Jay Abraham’s Business growth methods is to increase the average transaction value per customer. The Profit Maximizer does just that.
MOST BUSINESSES DON’T HAVE TRIPWIRE OFFERS AND THEY DON’T HAVE PROFIT MAXIMIZERS. THEY LIVE AND DIE SELLING COLD PROSPECTS ON THEIR CORE OFFER. �
THIS IS WHY THEY STRUGGLE AND YOU WON’T.�
Would it shock you to find out that McDonald’s makes almost no money on the hamburger? The hamburger is the Core Offer, but it’s the fry and Coke Profit Maximizer that built the Golden Arches.
BEST BUY SELLS LAPTOPS AND PLASMA TV’S (CORE OFFERS) ON WAFTER THIN MARGINS YOU CAN’T RESIST AND MAKES IT UP ON WARRANTIES, INSTALLATION AND GEEK SQUAD SUPPORT (PROFIT MAXIMIZERS).�
AMAZON SHOWS YOU AT CHECKOUT, “PEOPLE THAT BOUGHT THIS PRODUCT, ALSO BOUGHT THAT PRODUCT” TO INCREASE THE AVERAGE BASKET VALUE (PROFIT MAXIMIZER).�
WHAT COULD YOU BE OFFERING AS AN UPSELL OR CROSS-SELL? �
WHAT COULD YOU BUNDLE WITH YOUR CORE OFFER?�
HOW CAN YOU ENHANCE YOUR CORE OFFER THROUGH A CLUB OR MEMBERSHIP SITE?�
DM Blog Profit Maximizer Resources
• How to Calculate Average Customer Value (ACV) and Why it Matters
• How to Optimize the Most Important Pages In Your Marketing Funnel
• How to Build an Email Marketing Machine
Our Profit Maximizer Training Courses
• The Machine
• The Napkin Project
BUT THERE IS ONE MORE WAY TO GROW… �
THE LAST WAY TO GROW A BUSINESS IS TO INCREASE THE NUMBER OF TRANSACTIONS PER CUSTOMER. �
ENTER THE RETURN PATH.�
The goal of the Return Path is to have frequent, strategic communication with your buyers and prospects that cause them to buy again and again.
BECAUSE YOU HAVE YOUR BUYER’S CONTACT INFORMATION THROUGH THE LEAD MAGNET… �
YOU CAN OFFER NEW LEAD MAGNETS, TRIPWIRES, CORE OFFERS, AND PROFIT MAXIMIZERS BECAUSE YOU HAVE THEIR PERMISSION TO MARKET TO THEM. �
EMAIL MARKETING, CONTENT MARKETING, ORGANIC SOCIAL MEDIA, CUSTOM AUDIENCES, AND AD RETARGETING ARE TACTICS USED TO MAINTAIN COMMUNICATIONS WITH CUSTOMERS…. �
AND INCREASE TRANSACTION FREQUENCY. �
DM Blog Return Path Resources
• WCA + YC = Cheap, High-Converting Traffic
• How to Build an Email Marketing Machine
DM Training Courses on Return Paths
• The Napkin Project
• The Machine
INCREASE THE NUMBER OF TOUCHES WITH YOUR EXISTING CUSTOMERS, BOTH PROMOTIONAL AND NON-PROMOTIONAL… �
AND YOU WILL INCREASE TRANSACTION FREQUENCY THROUGH THE RETURN PATH.�
DO THE MATH. �
CVO is about building unstoppable businesses by increasing the value of your customers.
THE NUMBERS DON’T LIE: • You make $100 per day today • You now get 3x more customers (Lead Magnet +Tripwire) • You now make $300/day or $109,500/yr • You make 3x more profit (Core Offer + Profit Maximizer) • You now make $900/day or $328,500/yr • You sell 3x more often (Return Path) • You now make $2700/day or 985k/yr
THIS IS THE EXACT SYSTEM WE APPLY TO EVERY BUSINESS WE START, ACQUIRE, OR CONSULT. �
I know why you’re frustrated. You’re frustrated because you don’t know WHY you are blogging. You don’t know WHY you are using Facebook. You don’t know WHY you are looking at Google Analytics. Each one of these tactics is useless without a system.
APPLICATION OF EVEN ONE OF THE STEPS IN THIS SYSTEM WILL GROW YOUR BUSINESS. �
APPLYING ALL OF THEM WILL MAKE YOU UNSTOPPABLE.�
