The golden formula for online success
Perry Marshall’s formula: Traffic – Conversion – Economics
In order to be successful, every business must accomplish three things…
1. Get customers to show up
2. Sell products or services to those customers
3. Make enough money on Step #2 to afford to do more of Step #1
It’s really that simple. Online marketing genius, Perry Marshall calls these steps Traffic, Conversion and Economics.
Let’s take a look at each of them.
Traffic. Obviously, if you can’t get your products or services in front of people who want to buy, you’ll never get off the ground. You must have a steady stream of qualified prospects.
Conversion. Obviously, you must have an offer, a “proposition”, that’s attractive enough to get those customers to pull out their credit card and buy.
Economics. Obviously, the price of your product must be high enough to generate enough profit to spend on generating more traffic.
And the wheel keeps spinning around.
MTTB has conversion and economics covered for you.
First, MTTB has a proven system for converting your traffic into sales. All you do is deliver the traffic and MTTB closes the sales. You don’t have to do any selling or “converting” yourself. That aspect is all done for you.
Second, economics. MTTB’s products are high-ticket. Thousands of dollars. We’re not talking about $49 ebooks here. We’re not talking about low-priced items that you have sell thousands of just to break even.
One sale is enough to provide you with commissions of $1250, $3300 and $5500. That’s plenty of profit to pump back into driving more traffic!
Worried that you won’t be able to generate enough traffic? MTTB can help with that too.
MTTB has all the bases covered. Traffic, Conversion and Economics.
Why You Must Sell High Priced Products
Traffic, conversion, and economics are the Big Three steps to a successful business.
Today, let’s look at economics because I think it’s the most overlooked of the Big Three.
Economics really boils down to extracting more money from every customer over the “lifetime” of that customer.
There are many ways to accomplish this. You could do it on the first sale by raising the price of your product. Or you could do it by selling them a lower priced item first and then upselling them to higher priced items later, for example.
But the bottom line is that the more profit you make from each customer, the more you’re able to spend on generating more traffic…and working on getting your sales machine to convert better.
Economics drives the equation.
And it’s almost impossible these days to make the equation work with low-priced items.
First, because they’re low priced, you have to sell a lot of them to succeed. Which means you have to pay for a lot more traffic than with a higher priced item.
Second, because you have to sell a lot of them, the transaction costs are higher. Processing, shipping and supporting one-hundred-fifty $10 sales costs more than processing one $1500 sale.
Third, low-priced items, whether information products or physical items are notoriously low- margin, thanks to Walmart and Amazon.com. I don’t know why anyone would want to sell a product that can be put in a box and shipped these days. The Big A will eventually erode your already-miniscule profit margins.
The best way to approach the economics part of the sales equation is with high-priced, high-profit products and services.
Like the ones MTTB offers. Products that generate commissions of $1250, $3300 and $5500 through a proven 21-step system that has paid out over $10,000,000 in commissions to date.
Direct marketing legend, Dan Kennedy, is fond of saying that the answer to every marketing problem is “Raise your prices”.
He was right.
I’ll see you inside the members area at Step 1.