MLMT 125: How To Shortcut The Learning Curve By Modeling Your Competitors
MLM Trigger Episode #125
Today we are going to talk about how to lead your customers to the sale over and over again by Reverse Engineering a Successful Campaign.
Now that you know what to look for in your competitors’ campaigns, we need to learn how to dig up all this awesome information.
Where are your competitors’ customers?
That’s where you start looking. You have two types of competitors: "direct and indirect". A direct competitor is a person or company selling something very similar to yours. In the supplement business, anyone else selling the same type of supplements is your direct competitor. We are trying to sell basically the same thing to the same people. We’re going to do a direct competitor analysis in a moment.
LISTEN ▶️ How To Shortcut The Learning Curve By Modeling Your Competitors
There are also indirect competitors. These are people or companies selling something different than you, but to the same demographic.
When you start studying indirect competitors, it will be a huge eye-opener, because you can found supplement companies selling weight-loss products to an older demographic and fat-loss for a younger demographic.
They are an indirect competitor because they are selling different products, but they both going after the same demographic.
Competitive research is the greatest thing you can do because it can open up new opportunities you never knew about before. Each new profitable website you will find can be worth tens, if not hundreds of thousands of dollars a month! So you can see why you need to spend a lot of time searching for this buried gold.
The first step is to make a list of your direct and indirect competitors and their landing page URLs. If you don’t know who your competitors are, then just go to Google and start typing in search the phrases you would want people to type in if they were searching for you.
If you’re in the weight-loss niche, for example, you’d just type in phrases like “how to lose weight” or “losing weight quickly.” Look for the paid ads (usually on the right hand side) and start clicking on those ads. This will give you a good idea of who your successful competitors are.
Now that you have your competitors’ website URLs, let’s see how simple it is to find out exactly WHERE they are already advertising, WHAT ads they’re running, and WHERE they are sending their traffic. Using this simple strategy, you’ll quickly be able to figure out all five of the variables in each of the competitors’ campaigns.
Step #2: What Are They Doing?
There are a few products on the market that will be similar to yours.
So, the first step is to put in your competitor’s website URL. Now a day, it’s easy to find your competitors’ traffic sources online.
From there, quickly see each of the paid traffic sources that the competitor is using.
Start clicking on some of the options on the side of the page, you can see the demographics of the traffic that is coming to that website. you can dig deeper into the traffic sources and actually see all kind of information that you need to research.
You can see long running ads, they are usually high-converting and big money makers. As you dig deeper, you can start to see the exact banner ads that are working, including the ad copy that is converting.
Collect the actual ads your competitors are running and model them for your own ads. You can also see the landing pages the competitor is pushing the majority of traffic to and more.
Do you see how in a short period of time you can learn EVERYTHING you need to know about a competitor’s campaign?
You quickly can grab the five variables you need to be successful: Demographics - Offer - Landing page - Traffic source - Ad copy
The last step is actually to purchase your competitor’s product so that you can see the up-sells and down-sells.
-What email does this company send to customers?
-What else happens after the initial purchase?
Armed with this information, you now have everything you need to start building out your own successful sales funnels in that niche.
It’s amazing… You can literally reverse engineer everything your competitor is doing in a short market research. Just plug in the website and go where they have already gone. Sell to the customers who have already shown interest in this type of product or service. Redirect them to buy your products!
Let’s quickly review what we talk about:
-Make a list of your direct and indirect competitors.
-Find each landing page URL.
-Collect data, click on links, buy products, and see what the competitor is doing.
-Create a swipe file of ideas to model.
To help you out, I’ve created a checklist you can download and keep handy while you’re researching. Download the checklist: REVERSE ENGINEERING
With this checklist, you’ll be sure not to miss any critical components of your research.
LISTEN ▶️ How To Shortcut The Learning Curve By Modeling Your Competitors
May you be wealthier,
--Corine-
The top producers in MLM don't make a list of 200 people, don't do home meetings or anything like that. They use something equivalent of a sales funnels.