Today I want to cement the formula so you can see how a small
amount ofhighly targeted customers can lead to a six figure or more income.
While it’s great to have 10,000 email
subscribers or 10,000 people a
day visiting your blog, these are difficult numbers to reach. Most people never
do.
It takes a ton of hard work over
a long period, mixed in with great timing and luck, and you can’t stop – the
traffic stops when you stop.
…And don’t forget, just because
you can reach a lot of people doesn’t mean you make a lot of money. The money
is not in how big your list is…
I propose that today’s intelligent blogger, especially if you are
starting new entering such a competitive environment, instead focus on going
deep.
To go deep means your traffic building efforts are designed to strategically
attract a certain person and deliberately ignore others. You are
looking for exactly the right kind of person who is perfectly placed to benefit
tremendously from what you provide.
Because this target audience
benefits so much from what you create, they want as much as they can get from
you and are willing to pay premium prices for it.
Your traffic strategy is to
attract the kind of person who will spend thousands of dollars on what you
offer and benefit far beyond what they pay you for it.
It takes a strategic filtering process for this
to work, but if you do it well, you can earn hundreds of thousands of dollars
from just hundreds of people.
Don’t
make the mistake of thinking you have to chase big traffic numbers to make big
money.
A smarter path is to create a
system that can be used to earn money from your blog from DAY ONE, which
filters people so you end up with a highly qualified tribe of rabid buyers.
To make this more tangible, let’s
look at some numbers…
What Can 200
Visitors A Day Do For You?
Let’s start with a fairly realistic goal for most blogs: 200
visitors.
Attracting 200 people a day to
your blog I am sure you agree is a much more realistic target, one that you can
get excited about because it won’t take nearly as long to reach.
So what can 200 daily visitors do
for you? Let’s see –
1.
200
People per day visit
your blog
2.
10
of them per day join your strategically focused email newsletter, designed to create buyers, not just send more free
information
3.
One out of every 10 people who join
your email newsletter buy your entry level product
priced at $20 (low
price is important here)
4.
And for every paying customer you have,
one of every ten become a tribe member, a repeat buyer who goes on to spend $5,000 on your higher end offers over the course of the rest of
the year
Given 30 days in a month, that’s
6,000 visitors to your blog in total for the ENTIRE MONTH.
That’s 300 people who join your
newsletter per month.
30 people buy your entry level product
at $20.
And three people become super-fans of your business, your core
tribe members, and buy everything you create, spending $5,000 over 12 months,
earning you$15,000.
That’s $15,000 per month (I’m not
going to count those $20 front end sales because that money is used to attract
more people – you only profit on back end sales).
$15,000 per month is $180,000 per year, a very healthy income and made
from only 36 people (3 repeat buyers discovering you per month, that’s 36 per
year).
Are Those Numbers
Accurate?
Those numbers are obviously not
specific results to expect in every situation in every market.
Sometimes you will have fewer
email subscribers but more buyers, or vice versa. Your traffic will fluctuate,
as will your conversion rates.
Not every repeat customer will end up spending $5,000. Sometimes
they might only buy your $1,000 course, while another goes on to join
your $10,000 year long private coaching group.
There are too many variables to
account for, but the principle remains true. You are using your blog as an
entry point to filter people so you can identify and serve those who want the
most from you, and spend the most.
That is how you can derive a very
healthy income from a very small amount of people.
Incremental
Improvement: Tweak Each Step In The Process
What is great about this strategy is you create a step-by-step
process that
operates “behind” your blog.
People go from your blog to your
email list, to your low-priced front end offers and then your back-end higher
priced offers.
You might use webinars, a series of videos, audios or a series of
blog posts like you are reading now – whatever works for you. These are simply distribution
tools used to
educate and make offers with.
Each step can be tweaked and incrementally improved, creating a flow-onimprovement
across the system. It also makes it very easy to see the path forward.
Step one is to make sure you have
the basic framework set up of a landing page, a blog, a newsletter sequence,
and a front end product to sell.
Once the framework is there, get
some traffic and run people through the process. You will learn how many people
go from your blog or landing page, to join your newsletter, to read your
emails/watch your webinar/videos (etc), and then buy your product.
You then have a baseline of
conversion numbers to work on.
Not enough traffic? Implement
techniques to get more traffic.
Not enough people going from your blog
to your newsletter? Work on
how you present you optin offers to improve conversion.
Not enough people going from your emails
to purchase your product? Focus on
how to convert more buyers.
It’s a very systematic process,
once you make the decision to follow this model.
What If You
Don’t Have All Those Products To Sell?
Obviously to make money with this
process you have to have products to sell, ideally a range of products that go
up in price for those who want more from you.
Traditionally price increases based on how much direct
contact you
offer. A front end ebook might cost $30, while a group coaching program costs $500,
one-on-one time is $2,000 and a
live weekend workshop is $5,000.
Of course you can’t offer all these if you just started because
you have to create them (you can speed things up with re-purposing and rapid product creation methods, but
that’s another lesson for another day).
What you can do from day one, is sell services. The simplest service is to
offerphone/skype coaching, which
is exactly where I would start if you are not sure about how to position your
offer.
You can sell half an hour of your
time for $30 to $300 from day one to help people solve one specific problem,
which is your first front end offer.
The great
thing about this method is you get paid to learn what your customers want.
You can then build out from
there, adding more products and services as you learn more about your target
market and refine your unique positioning in your marketplace.
The Only Test
That Matters: Where Are Your Buyers?
Setting up this process will give you the answer to the most
important test:Where are your buyers?
By making an offer from day one
you find out if people buy, where they come from, what they need help with, how
much they are willing to spend and how best you can help them.
How incredibly powerful is that!
Keyword research, fostering a
community, building a list and of course blogging itself will NOT answer these
questions.
You only
find out about buyers by making an offer.
Once you know you have a buying
market, then you go out there and build the business around those people.
Create the blog, build your list, and ramp things up knowing that you have a
market who spends money on what you provide.
There are no guesses or
assumptions, only numbers that lead to cash flow using this system.
Going Deep
Fortifies Your Position In Your Market
The great thing about following this process is not only do you
require much less traffic to make it work, once you establish yourself, your
market positioning becomes a powerful competitive advantage.
As you build out your product funnel and get a
better understanding of what your people want, you will become the default
choice to solve
that problem.
It will take less effort to
convert a sale because your message will become stronger and more aligned to
your specific target market.
You become a specialist, with a deep range of products and
services serving a very specific need. You can charge premium
prices because
you have the trust and credibility of being one of the best in your field.
This is when you can look at
increasing your traffic using new channels, because you know exactly what type
of traffic to go for and you have a system to profit from it.
Imagine how much you can make if
you increase the numbers from 200 visitors a day to 1,000?
Do the math and figure out for
yourself…
Don’t Look At
The Wrong Number
Today so many people are fixated
by how many visitors they have to their blog, or how many downloads they have
of their podcast, or views of their videos, or subscribers to their email list.
To focus on these numbers is a mistake. It’s a misleading sign of success because
it does not correlate to income unless you are using low-leverage models like
advertising or affiliate programs (which means you need unrealistic amounts of
traffic to make good money).
The right numbers to look at to assess success are how
many buyers you haveand how much money you make per buyer.
Step one is to generate your first stream of reliable
traffic and present an offer so you can get your first buyer.
To help you take this step I invite you to study my latest guide
on how to attract your first 1,000 daily blog readers.
This is my next level of training
on traffic. It’s not free, but for under $50, you won’t find a guide written by
an online entrepreneur and blogger with as many years experience as I have (and
I’ve coached over 3,000 bloggers already).
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