Fade to black…
[Deep voice – Previously on eCoverNinja…]
If you’re here to discover the true story of eCoverNinja and you missed part one, you can read it here:
Once you’ve caught up on part one, and you’re still with me, keep reading, you’re about to discover the road to riches is a long, dangerous, winding road…
[Cut to… Desk]
Here I sat, hunched over a keyboard, inspired, ready to do something… anything… but what?
I thought back to things I’d done in the past…
Programming – I’ve always loved programming, solving problems and making things work.
Sales – Every job I ever had involved selling to people, I like people, I like helping them solve their problems.
Design – Ever since I could hold a pencil, I’d be creating… This was my true passion.
Writing – I always liked to write… stories, lyrics, poems, music.
Then I began furiously searching Google…
“Make money programming”
“Make money selling”
“Make money designing”
“Make money writing”
The same sites came up again and again…
One jumped out at me – a discussion group.
If you want to ‘DO IT’ spend time with people already doing it.
I clicked the link, read a few posts and jumped in to the discussion…
The site was Warrior Forum, one of the best known Internet marketing forums on the net.
Disclosure: I haven’t spent any time on Warrior Forum recently. The site was bought out by Freelancer and by the time I stopped posting, I found it to be more of a distraction than an asset. There comes a time in your business where you have to stop learning and start doing.
Back then, Warrior Forum opened my eyes to the true potential of Internet marketing…
I read everything, soaked up all there was to know about…
My head was spinning but I was full of optimism…
An idea began to form.
Simple at first, but it grew.
It took a couple of days, but by the time I finished, I had created LimitScript – the first ever ‘Countdown, Dimesale & Scarcity’ script.
If you’ve ever been to a website and they have a countdown timer, telling you the offer closes in 3 days – that’s a countdown script.
If you’ve ever seen one of those websites where the price increases each time someone buys the product – that’s a dimesale script.
Finally, if you’ve been to a site that says “we only have 100 available, then the offer goes away” – that’s a scarcity script.
Before LimitScript – you had to manage your offers manually. My software did all 3, automatically.
I was excited!
I’d solved a real problem for Internet marketers…
But I had a problem, I was a TERRIBLE marketer.
If I knew then what I know now – I’d have made MILLIONS.
But I didn’t, I had a lot to learn…
Other people, THEY made a lot of money from LimitScript…
Let me tell you how I sabotaged my chances of success…
Here’s a breakdown of what I did to start selling LimitScript.
1) Posted a question on Warrior Forum, asking whether people would be interested in something that automates countdowns, sales limits and dimesales.
2) Waited a few days for responses.
3) Posted a special offer on the forum.
You should have seen the smile on my face every time a new PayPal notification popped into my inbox.
Within 4 hours, I’d made £400 – by the time I closed the offer a day later I’d made over £1000.
Not bad for a couple of days work…
BUT, I made mistakes… tons of them!
The good thing about mistakes is the lesson…
The best thing about learning from other people’s mistakes is that you don’t have to make them yourself…
So, in no particular order, here are the lessons I learned:
1) I priced it way too low – this software was unique, it saved people time and money, and actually helped them make MORE money. I had NO competition.
2) I didn’t have any other products to sell – seriously, a dude who spent his whole life selling didn’t have an upsell. *Facepalm*
3) I gave away resale rights – this was the nail in the coffin for LimitScript… as soon as a GOOD marketer saw the potential of reselling the software, they marketed it properly and made all the money I should have done. If I hadn’t done that, I could have looked at all the mistakes I’d made with the first offer, fixed them and relaunched. By this time, my CUSTOMERS were my competition.
Earlier, I said if I knew then what I knew now, I’d have made MILLIONS…
A bold claim – but, I’m willing to back it up by showing you what I should have done.
1) Find a group of people with a problem… [check – I actually did this]
For example: I don’t make as much money as I want to.
2) Create a product which will solve the problem… [check – not bad so far]
3) Set a date in the future for launch, and plan… [nope – I tried to run before I could walk]
Lack of experience meant I didn’t have a plan. Plans can be changed, just like following a map, if you hit a dead end, you can find another way – but without a map, you end up going round in circles, lost. I rushed into it with my eyes closed, and when you rush, you put yourself under pressure – When you’re under pressure, you cut corners and make mistakes. The biggest mistake was failing to plan.
4) Show up where your prospects are… [check – by chance, I was already there]
If you’re not in the trenches with your future customers, you can’t really know what they want, need and more importantly what they’re willing to pay for.
5) Agitate their problem… [check – well, a little, there was a lot more I could have done]
For example: “How much more money do you think you could make if your visitors were REALLY motivated to buy”, “Watch them hit that BUY BUTTON when they realise every minute they wait costs them money, the price goes up…”, “How would YOU like to save time AND money, while earning more?”
6) Get their emails in return for something they’ll value… [nope – didn’t do that]
This was around 8 years ago – it’s painful to think of all the money I’ve lost by not having a list to market to. I could have offered a free report detailing how to use scarcity in your marketing, with proof it increases sales.
7) Email your list, get them to know, like and trust you – begin to build buzz around your product… [nope – didn’t do that]
How could I possibly do that? I didn’t even have their contact details. Imagine being a salesperson with no leads… that’s exactly the position you put yourself in if you don’t have a list of prospects.
6) Pre-launch your product to your list… [nope – didn’t do that either]
Ok, this is where we start to see the results of our work. By now, your email prospects should know, like and trust you – you’ve already shown them how they can solve their problem themselves (the harder way), now you’re going to sell them something that will take their problem away with very little effort on their part.
At this stage, you should make some money – this is where most people stop.
7) Test, test, test… [nope – of course I didn’t do this]
This is the time to tweak and test your offer to find out what works best.
Testing your offer is one of the most important aspects of marketing any product – if you only learn one thing, “Know your numbers”. When you know your numbers, you can make small changes to your offer and test which changes increase sales. Small increases in your sales numbers can add up to big profits.
For example: How do you know whether your product should sell for $45 or $75?
If you’re not testing, you’re guessing.
You should do both…
Set up two identical sales pages, the only difference is the price of the product.
Then send 25% of your list to one version, and 25% to the other version.
This is called A-B split testing.
By the end of the test you will KNOW which price performs better.
Then, send the remainder of your list to the winning version.
You can split test everything:
Buy button colour
It is important to only test one thing at a time – otherwise you will not know which small amendment produced the result.
8) Scale up!… [blush – no, guilty again]
This is what separates the winners from the also-rans…
At this stage you’ve done the following:
Found a group with a problem
Created a product to solve the problem
Set a date for launch
Planned your launch
Showed up where your prospects are and started to talk with them about their problems
Started to solve their problems and gained their trust
Created some buzz around your product
Pre-launched your product
Made some money
Tested and optimised your offer to increase sales
Let me ask you a question
If you gave me a dollar and I gave you two back, making you a dollar profit…
How many dollars would give me?
If you gave me five dollars and I gave you six back, you’d make a dollar profit…
How many now?
What if you gave me nine dollars and I gave you ten back, you’re still a dollar up each time…
Would you do it?
In your shoes, I’d give everything I could get my hands on – AND reinvest the profits.
That’s what successful marketers do.
Put another way…
Q: If each visitor to your website cost $1 to acquire, but on average earned you $2 in profit – how many visitors would you want?
A: ALL OF THEM
So, getting back on track…
A good marketer takes the money they made during their testing phase and does one of two things…
1) Recruits affiliates to promote their product – with proof of a profitable offer
2) Buys traffic – through ads, solo mailings etc
That is the business model which has made millions for hundreds of Internet marketers, and will continue to do so for many years to come.
Now you know how to build and grow a successful business online (or offline for that matter), I urge you to do the same…
It takes most successful people years to learn the lessons above…
Most people never learn them…
What does all this have to do with becoming eCoverNinja?
All will be revealed in part 3.