[STORY TIME] How I wasted a juicy biz opportunity and what lessons I learned

by 5ky
4 replies
In 2013 I created an ebook offer in the relationships market, helping women overcome challenges in one specific niche.

After putting it on Clickbank, I tested this offer using Adwords.

At $27 the Conversion Rate from 1,000+ VSL visitors was 2.38%, making the offer break even. Cold traffic. Zero follow-up.

At that time I didn't know having a front-offer break even is actually a great signal.

Instead of adding some upsells and increasing Average Order Value, I focused on decreasing traffic costs.

As Adwords got more expensive, I focused on finding alternative sources of traffic and doing all kinds of silly stuff (like creating quizzes, etc) thinking the solution is in having lower cost per click and cost per lead.

Couple of years later I eventually managed to make my FB lead ads consistently get me leads at .08 per lead, but the quality of this FB traffic was miles away from the initial Adwords traffic.

Cost per click and cost per lead were down, but VSL Conversion rate was also down. A lot.

I started optimizing everything - from the follow-up sequence, through VSL, to everything else. But the VSL Conversion Rate was still waay down.

Reasons?

I came up with two. Possibly more.

Reason 1: Adwords got me people based on their search intent. They were already looking for this type of information and were motivated to find a solution asap. Facebook got me a lot of curious leads (through my free report and quiz), some of which are not necessarily the best fit for my offer. Now or ever.

Reason 2: In the meantime, Youtube and Google became flooded with free information in this relationship niche.

Now the lessons.

1. Forget making the front-end offer profitable. Make the Average Order Value profitable by adding upsells/downsells asap!

2. Traffic quality matters. You want to have the traffic that is as close to having a buying intent as possible.

3. Traffic costs can get lower only as much. Focus more on AOV than on decreasing traffic costs.

4. After you have a good AOV, focus on the life-time customer value by following-up and making new offers.

5. Timing and momentum are important. CVR is highest when competition is low and/or when your offer has a unique twist. Information can become a commodity, so if something is working great now, start squeezing that lemon as there's no tomorrow.

Thank you for your time and attention.

Questions for people who have successful infoproducts in the personal development/relationships markets:

1. Could you give me your take on this story? What would you do next? Would you abandon/sell this or try to revive it?

2. If you have upsells/downsells that have a good CVR, how did you choose the topics, formats and price points? Do you have some good resource that teaches you that?

3. Do you still use Google Ads for lead generation/sales? If yes, has something changed in your approach over the years?

4. Have you used Clickbank affiliates to promote your offers? What is your experience with that?

5. What is the best alternative to Clickbank for vendors? And where do you find good non-IM infoproduct offers and launches to promote? Especially launches.

Thanks and cheers!
#biz #juicy #learned #lessons #opportunity #story #time #wasted
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  • Profile picture of the author Jonathan 2.0
    Hi 5ky: Thanks for sharing your story and advice/suggestions. : ) Many times a Person has to make a certain amount of "mistakes" (and maybe even some "failure") to figure out what works.
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    "Each problem has hidden in it an opportunity so powerful that it literally dwarfs the problem. The greatest success stories were created by people who recognized a problem and turned it into an opportunity."―Joseph Sugarman
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  • Profile picture of the author 5ky
    You are welcome.

    I would like to hear from people who've had success with infoproducts, Clickbank, etc.

    Thanks and cheers!
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    Heroe's journey

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  • Profile picture of the author 5ky
    Hey guys, any feedback?
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    Heroe's journey

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    • Profile picture of the author Profit Traveler
      Banned
      Originally Posted by 5ky View Post

      Hey guys, any feedback?
      Sure. Pinterest is primarily a female dominated demographic. I would master it.

      I have witnessed case study after case study of people attaining massive traffic with Pinterest when they went all in with it. And organically.
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      MAKE MONEY DOING WHAT YOU ARE ALREADY DOING...

      SOCIAL MEDIA MONETIZATION ON STEROIDS

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