Wow Big Fail Lost Money

by Daniel E Taylor

Posted: 14 years ago 16 replies

INTERNET MARKETING

We have been planning this promotion for the
past week or two and finally launched
it.

It was basically a new report I just finished and we
were going to promote it.

This was a lead generation promotion.

Well we paid for a good amount of traffic
and it has flopped for the past 3 days.

We tested, tracked, and tweaked, and
we couldn't get it to convert over 10%.

We split test, set goals, etc...

The promotion just stunk. And I was really excited
to launch it.

So what's my next move? Well I gave the greenlight
to pull the promotion.

I'm almost done with the new promotion that
I'm very excited about.

Moral of the story. We all fail. Don't take it personally.

Just because you do a promotion that flops, it doesn't
mean you should quit. Just give pull it and move on.

I've seen how fast money can be made when you
hit the homerun. So you may strike out a few times.

But once you find one that works, you milk it till it's
bone dry.

Hopefully this gives you some inspiration if you've been
striking out.

Daniel

#big #fail #lost #money #wow

Rick Johansson 14 years ago

Yes it really sucks when a promotion fails. You line up the JV partners,they promote, and the whole thing bombs.

Luckily there are those home-runs that keep us going. The good part about failing is you now know what NOT to do next time.

Rick
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Ron Douglas 14 years ago

Fail quick, learn from it, move on to the next project. It happens to us all.
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Cryp 14 years ago

You haven't failed, you just did not find a way which works, now get 9999 more
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Kevin Williams 14 years ago

Glad I haven't experienced this yet, but it will be helpful to keep in mind in case the unfortunate happens, thanks
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williamrs 14 years ago

It's really bad, but happens every time...
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Zeus66 14 years ago

Great reminder, Daniel! I always think about one of my heroes, Thomas Edison. That guy failed so many times it's a wonder he didn't jump off a building long before all of those wonderful inventions. I'm not sure such a trait can be taught, but I like to think it can. This very thing is often what separates winners and losers in the long run.

John
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- housefinder 14 years ago
  
  The true champions are the ones who rise again after every fall. I am glad that you are not letting this keep you down.
  
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Frank Bruno 14 years ago

As Napoleon Hil said...

"Every adversity brings with it the seed of an equivalent advantage"

Frank Bruno
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Mohsin Rasool 14 years ago

Hi Danial,

Thanks for sharing... Just another day i was thinking...and I made a rule!
That is how many hours/days i need to repent on my failure....as it is fact
things are going to fail sometime...

Well I think (for me) ONE FULL DAY is enough
Next day let's start over...

Thanks for the reminder!
Mohsin
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Daniel E Taylor 14 years ago

LOL Funny how this thread gets upped from the dungeon
today and we JUST started the new promotion today.

We'll see how this one goes.

Daniel
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- mrmatt 14 years ago
  
  Sorry dude! It totally sucks the wind out of you when they don't go as planned. It is an awful feeling but it only makes us stronger and smarter.
  
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diverdown 14 years ago

If I only kept track of the number of times I had a project I was sure wouold buy the beach house in the islands only to see it crash and burn.... Upon retrospection not one of the promotions bombed ~ it was just a lesson to learn and a mistake not to be made again.

Never give up - take a step back access and develop your corrective action plan and root cause analysis why the results came in below expectations.

never rise faster than your bubbles
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- Steven Wagenheim 14 years ago
  
  Yeah, 10% conversion is what I call a real failure.
  
  :rolleyes::confused:
  
  Anyway, hope your next promotion goes better.
  
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davidac 14 years ago

Thanks for this post. I have been working away in IM for some months now. This post is a great inspiration for me. Thanks!
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Emily Meeks 14 years ago

Sometimes, that's what happens - you run, you fall and skin your knee, but then you get up and keep running. I had a knack for that when I was 2 - but I always got up without crying or missing a beat >
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- Jamie Lewis 14 years ago
  
  The only thing I can think of that went wrong, (according to your numbers) is that you paid $2.00 per click and you made less than $20.00 per sale. (as an example) Do I have the math right? Could you pause and then re-launch at $40.00 per sale?
  
  If you are trying to convert your leads, why dont you do a mass control thing? That certainly wouldnt be a loss in the long run.
  
  1:10 is pretty darn good. Just wondering.
  
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