MLMT 132: Your Toolkit To Get People To Pull Out Their Credit Cards
MLM Trigger Episode #132
Today we are going to go deeper into how to qualify your buyers and also you hyperactive buyers.
When we qualify buyers, remember that the goal is to get people to pull out their credit cards and actually pay for something. The first purchase is the hardest to get, so it’s best to offer something of value for a very low price. Then, you can guide buyers up the Value Ladder as soon as you can.
Here are a few ways to qualify buyers:
Free-Plus-Shipping: It’s a way to qualify buyers by giving them something of great value for free. If you create a great product and give it away for free, it is the perfect bait and gets one of your products into the hands of a new customer. There is no better way than a free-plus-shipping offer to provide value up front and get the buyer interested in ascending. This tactic is the best way to find out which of your subscribers are also buyers.
LISTEN ▶️ Your Toolkit To Get People To Pull Out Their Credit Cards
Trial Offer: A very low-cost trial offer is a great way to get people to raise their hands and tell you that they’re buyers. The easiest and most popular trial is offered for one dollar. Then, you bill them a few days later for the full amount— if they want to keep the product.
To receive the trial, a visitor must pull their credit card out of their wallet and prove they are a buyer. This works best for items you don’t have to ship, like digital downloads, software, membership sites.
Tripwire Offers: Tripwires are smaller offers used to get buyers in the door. They are often a “splinter” of your core product. For example, you might pull out one module or one of the training sessions and offer it for a huge discount. Ryan Deiss and Perry Belcher made this technique popular. They usually use a very low-cost offer of around seven dollars per item. These can be physical products or digital downloads, depending on your market.
Self-Liquidating Offers: These types of offers are usually a little more expensive—between thirty-seven and ninety-seven dollars. Often times, with free-plus-shipping, trials, and tripwire offers, you may actually lose money initially, although through your up-sells you can often break even.
With a self-liquidating offer, on the other hand, the goal is to have the frontend product liquidate your ad costs so that your up-sells can become pure profit.
Straight Sale: This is just a regular sale of a high-ticket item, from $97 to $5,000 or higher. It usually takes a little more selling to convert these offers, so you typically only introduce this option to people who are in your warm market or who have gone through your initial funnels. It usually takes a stronger bond with the Attractive Character before people will make these larger investments.
How to IDENTIFY HYPERACTIVE BUYERS
To figure out which customers are hyperactive buyers at the point of sale, you need to offer an up-sell immediately after you qualify them with a low-cost or free offer. A few ways to do that:
Bumps Offers: These are the little offers you add on to your order forms, and they will completely transformed your business. This concept is very similar to the experience you have in a grocery store checkout line. You see the candy bars, gum, and other little things that are all too easy to throw in with your order. You can do a similar thing with your order-form bumps. With two lines of text and a checkbox, you are able to get up to 40% of your buyers to upgrade and pay an extra thirty-seven dollars or more at the point of sale. Bumps are a subtle way to increase sales dramatically. Just make a simple discount offer with a checkbox on the order form.
One-Time Offers: After someone has purchased any of your frontend offers, you can make them a special, one time offer. The best OTOs are products that will complement the initial purchase. Often you’ll make two to three separate offers to people after they buy, as long as the sequence of offers adds more value to the initial offer. One Time Offers (OTOs) appear after someone has purchased your first offer. These are special deals they can only get if they act right away.
Down-Sell Offer: If the buyer says no to the OTO, you can down-sell them with either a different product or a payment plan option on the original offer. Don’t give up just because they said no to paying the full amount all at once. Often you will find that up to 20% of people who say no to the special offer will say yes to a payment-plan version on a down-sell.
Affiliate Recommendations: These recommendations typically happen after buyers finish going through your up-sell/down-sell sequence and have landed on the “thank you” page in your funnel. On this page, you will usually thank buyers for ordering and then link to other offers that would likely serve them.
Let’s Review:
Do you see how these blocks work to build a system that benefits your company? Simply go through each phase in the funnel and choose which block you want to try. You’ll soon discover the ones that work best in your market and you’ll rely on them over and over. But don’t forget to test out some of the alternatives now and then. You never know when a straight sale will beat out a trial for a particular offer unless you test it.
New ideas for building blocks are being developed all the time, but these listed above are the most common and most effective. Now that you know what the blocks are, you can start building actual funnels
LISTEN ▶️ Your Toolkit To Get People To Pull Out Their Credit Cards
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.