Email marketing has been around for decades and is still one of the best ways to make sales online. In this lesson I’m going to show you the basic principles behind email promotions so you can launch your own products and make sales…
Let’s draw up a graph so you can see what happens to your sales during a promotion event.
On the horizontal axis we have time. A typical promotion lasts about week so let’s put some numbers in to represent each day. On the vertical axis we have sales. Your sales will vary depending on your how big your audience is, but as an example let’s put some realistic numbers in for a small list from 0 to 1000 dollars.
The first email you send out will bring in immediate sales. These are your hyper buyers. They are people on your list that check their emails every day and will buy almost anything you offer and usually buy one or more offers in your sales funnel. It usually takes anywhere from 24-48 hours for the sales to kick in after you send out an email.
The second phase are the on-going sales. These sales come from your regular buyers who need time to read your sales letter, they want to know what others say about the product and they need more i nformation on the subject before making a decision and usually need to see the offer a few times before buying.
The third phase is the closing down event. People don’t like to miss out on a good deal. You can either increase the price, remove any extra bonus, temporarily close the offer for a few months, or take down the offer completely so they see a ‘closed’ message. The end of a promotion attracts ‘last minute’ buyers and can account for more than 50% of your sales.
So the profit zones in your promotion are in the first 24-48 hour spike… the on-going sales… And finally, in the second spike about 24 hours before the end of the promotion.
Okay so what if you have small email list, and you’re selling a low priced product like an ebook and your offer doesn’t have many upsells? Well one thing you might want to consider is to shorten the duration of the promotion.
So Let’s adjust the sales accordingly for a smaller email list… from 0 to $200. Now let’s shorten the promotion to just 5 days. Notice how the curvature of the graph still remains the same. And notice how you actually create more room to present another offer.
So if you’re having success selling low priced products, then keep the ball rolling. Then as you get more sales in, develop your product, improve your sales letter and add more offers to your sales funnel and then you can stretch the promotion out for 7 days for a new group of people.
So let’s take a look at some variations and potential issues you might experience…
If you see results like this, then you’re not getting enough email clicks, the offer itself doesn’t convert and you haven’t got enough offers in your sales funnel to bring in enough transactions which results in a small volume of sales spread apart.
If however you’re selling high-ticket products like coaching or a setup service, you will tend to see results like this… Sales will come in, but they’re spaced apart. There is usually a quiet period in the beginning and then when the sales do come, they come in sparingly. However kind in mind that just a handful of high-ticket sales can out-perform a typical promotion with many transactions.
Another thing to consider is your list size. If your promotion works on a small scale it’s very likely to work on a much larger scale without making changes the offer.
So for example, if you maxed out at $1000 in a day with an email list of 20,000 subscribers… You can build a bigger email list, of 200,000 subscribers and reach $10,000 in a day using the exact same promotion. The curvature of the graph will still be the same and you’ll get hyper buyers in your first 24-48 hours, on-going sales from your regulars, and last minute sales towards the end and your profit zones will still be the same. So it’s definitely something worth thinking about.
Final Thoughts…
Start off by building a small email list, even 1000 subscribers is enough to get going. That way you can send out emails, know your numbers and understand the process!
Don’t overcomplicate things and start with ONE single offer – like an ebook. Sell ASAP, then improve conversion rates like your sales letter, sales video, email subject lines and so on later on.
Develop a DEEP sales funnel with many offers. This will increase the ‘sale value’ with every customer and multiply your income. Aim to have at least 2 offers in a funnel and continue adding more over time.
Adjust the duration of the promotion according to the type of product you’re selling
and size and responsiveness of your email list.
Focus on building a MASSIVE email list because you can put in the same amount effort in a promotion, but produce far greater results the sales curve will be same… just AMPLIFIED!
