I recently made a rookie mistake that cost me time and money and I want to share so others don't do the same thing.
I found what I thought was a great niche with a ton of traffic. I found the product I wanted to sell, created a free ebook as a giveaway, built my squeeze page,etc.
I started my test marketing using Google PPC.
I instantly started getting lots of traffic and my conversion rate was 30 percent. But no one purchased the paid product.
I actually made two mistakes, but the first one was critical.
Mistake number 1- my giveaway was too good. My ebook not only answered the "what", but it also gave them the "how". They searched for a solution to a problem and got the answer. There was no need to spend money on my product even though the paid product was far superior to the free product. They didn't differentiate. For a list building campaign to be successful, the giveaway has to be a teaser. It has to establish you as the authority but leave them wanting more. If they ask a question and you give them the answer, there is nothing left to sell.
Mistake number 2- in my haste to put together my campaign with Google, I didn't filter out the people searching for "free" stuff. As a general rule, you can sell products to people searching for a solution by hooking them with a free offer, but if they start out looking for a free solution, they will not pay for it. Freebie seekers will just take up space in your database. And as a side statement, when you are searching out a niche, make sure the niche isn't inundated with free solutions. Always Google your top keywords and find out who is in the space and what they are offering. There are certain niches that are notorious for being hooks in themselves and there are no paying customers.
I hope my this helps someone else.