Building a 100k business, your input pls

by bwh1
28 replies
I've asked these days a few isolated questions in here to get the basic plan on what I would like to do.

I really would appreciate your feedback if that plan does make sense or if you feel that I go in a wrong direction. Any other idea or input is VERY welcome.

CURRENT SITUATION

We have a Clickbank listed product since 2011, making regular sales.
Product is a video course teaching how to use a accounting software,
which we are updating right now to the new 2014 version.

We have 700+ existing clients, basically no refunds other than some
purchased by mistake, thinking the course is for another software.

Sales in 2012- 12.2k, in 2013 - 7.8k due to Panda+Penguin
in 2014 up to now 2.3k with 30 sales - or $77 per sale on average
and divided into 60 days, 38.- a day

We have difficulties to reach 100k with the current situation.

We rely 100% on organic traffic and have few affiliates right now
to reach my goal.

In 2014 we had 1500 new visitors, half to our sales page and half to
our squeeze page.

We added 170 subs overall, from 750 visitors to the squeeze page and
750 to our landing page, a bit over 10% overall.

Our sales conversion is therefore only 2% - way to low IMO if you.

2014 PLAN

We would need to convert 15% of our traffic into sales, what's basically
impossible.

So there are a few things we plan on doing

1 - Getting more taffic

We try on getting another domain indexed which can get us more organic
traffic. Unfortunately a new domain.

We will make more videos to get traffic over Youtube, using
hangouts

Pay for traffic is no option due to low conversions.

2 - Updating our course

We are updating our course to attract new clients and to be able
to create momentum and having some to broadcast.

3 - Redo our site

We are redesigning our site and got the help of a
copywriter to make a new sales page. We basically
change all

4 - Adding a sales sequence

We are not in the MMO niche so don't know how this will
work but we did not offer any OTO's to buyers till now.
We have an upsell but it is not offered as an OTO with a lower
price.

We do plan on charging for our existing free members only forum
which then would be added as an OTO for around 60% less.

The Forum will become a stand alone product, just not knowing
how to market that right now.

5 - Email promos

It's a shame but we basically don't email to our list.

There are about 3.5k on our freebie list and 700 on the customer
list.

Point is that we can't find matching and relevant products to
promote. The buyer list is even more difficult than the freebie
list.

6 - Getting more affiliates

We need to get more affiliates on board. We have only a handful
active Affiliates right now and just 4 are making sales.

How can we get more Affiliates on board? How to find them for
a niche like ours?

We offer currently 50% commissions, some from 47.- up to 128.-

We offer market infos, articles, geo data and would also produce
individual stuff if an affiliate would ask for and it is in our reach.

What would be a great way to find and get more affiliates on board?

That's it, waiting for your ideas, critiques or what so ever

#100k #building #business #input #pls
  • Profile picture of the author Gambino
    Sounds like a solid plan to me. I don't think a 2% conversion rate is horrible but I could be wrong. I would concentrate on building you're affiliate base, building your list and promoting to them and creating a secondary product. You have 700 people who have already proven they'll buy a product like this. Surely, there's another related product or an add-on you could sell.
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  • are you offering any thing else to the 700 people that have already bought from you?
    Are you building a list of buyers and people that have sought out information about your product. If not you could be losing out on a lot of money. Always run your traffic to a squeeze page and capture your lead before sending them to the affiliate link that way you will always have a list. also make a list of people are buyers and create a separate list of Buyers only and offer them quality products and build a good relationship with them.
    Hope this helps Good Luck
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  • Profile picture of the author Max Anderson
    1 - Getting more taffic <- big mistake!!!!

    Make the most out of your already existing traffic first!

    Follow up sequences and up/downsells come to mind.

    Much cheaper and easier to do, yet you will make more money, which I guess is the ultimate goal.
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  • Profile picture of the author Coach Comeback
    To this day I have still found 2 things

    1. Ranking a site and relying on google for traffic to be the least profitable task I have ever spent my time doing

    2. Webinars have been the MOST profitable task I have ever done.

    Take those leads that have opted in and send them to a webinar where they can see the software live and really see it in action!

    You will convert anywhere from 18-46% on webinars (basing that on my own personal numbers)

    Within the last year I still have yet to do a single webinar where I did not make a sale.

    The thing is.. the person who shows interest by signing up, marking their calendar and then actually showing up.. then sitting through an hour long presentation.................. They have pretty much already sold themselves.

    Think about adding that to your funnel and you will reach that 100k no problem
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    • Profile picture of the author bwh1
      Thanks so far, good replies giving me some more direction.

      So far I have

      1 - get some to market to your lists, freebie and buyer lists - we miss out on this

      2 - improve CONVERSIONS and not traffic - we are working on this over a better copy and design.

      IF I convert better, let's say 5% from all traffic, then I would consider buying traffic over FB or AdWords etc.

      3 - Doing Webinars - this is actually a cool pointer as we are in progress to running Webinars using G+ Hangouts with the HangoutPlugin in stead of doing simple videos and publish them to YT.


      Keep it coming

      Originally Posted by Coach Comeback View Post

      To this day I have still found 2 things

      1. Ranking a site and relying on google for traffic to be the least profitable task I have ever spent my time doing

      2. Webinars have been the MOST profitable task I have ever done.

      Take those leads that have opted in and send them to a webinar where they can see the software live and really see it in action!

      You will convert anywhere from 18-46% on webinars (basing that on my own personal numbers)

      Within the last year I still have yet to do a single webinar where I did not make a sale.

      The thing is.. the person who shows interest by signing up, marking their calendar and then actually showing up.. then sitting through an hour long presentation.................. They have pretty much already sold themselves.

      Think about adding that to your funnel and you will reach that 100k no problem
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  • Profile picture of the author dtul
    What if you made some type of premium option? Like give a good walk-through that explains the software, but just the basics, and then a premium walk-through for an upsell that tells you all these little tips and tricks you can implement to improve your efficiency with the software. Granted, I'm not sure what the software is and if this is even a feasible option to consider, but I'm sure you could think of some additional value-adding offer to provide that is directly related to your current clients needs.
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    • Profile picture of the author bwh1
      Originally Posted by dtul View Post

      What if you made some type of premium option? Like give a good walk-through that explains the software, but just the basics, and then a premium walk-through for an upsell that tells you all these little tips and tricks you can implement to improve your efficiency with the software. Granted, I'm not sure what the software is and if this is even a feasible option to consider, but I'm sure you could think of some additional value-adding offer to provide that is directly related to your current clients needs.
      CLARIFICATION

      our course teaches HOW to use a software, we are not selling THE software.

      Some like a course about "How To Use Microsoft Excel".

      The premium offer you mentioned would be the One-on-One support over the Forum which is currently free for buyers.

      We would like to give access to the Forum for a fee to all potential clients (let's say 29.99/month) but where our buyers from the main video course would get a steep discount (9.99/month).

      thanks
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      • Profile picture of the author dtul
        Originally Posted by bwh1 View Post

        CLARIFICATION

        our course teaches HOW to use a software, we are not selling THE software.

        Some like a course about "How To Use Microsoft Excel".

        The premium offer you mentioned would be the One-on-One support over the Forum which is currently free for buyers.

        We would like to give access to the Forum for a fee to all potential clients (let's say 29.99/month) but where our buyers from the main video course would get a steep discount (9.99/month).

        thanks
        I've got you. That sounds like a good idea to me. Gives them an incentive to buy your main product, whilst also giving them a place for support, and providing you additional residual income.
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  • Profile picture of the author Venturetothetop
    Dude, why would you not buy traffic if you were making more then you were spending???

    At the $77 per sale, i'm pretty confident paid traffic will work out profitable for you.

    Of course on page/off page optimisation will help massively too, but that is not to say paid traffic would increase your profits in the quickest time. I know someone who has the worst optimised site but still makes 100k/yr profit after spending 20k on advertising/year. He always laughs and tells me that when he gets round to optimising his site he might be a millionnaire, or he could just throw that 100k back in and make 500k this year.
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    • Profile picture of the author bwh1
      Originally Posted by Venturetothetop View Post

      Dude, why would you not buy traffic if you were making more then you were spending???

      At the $77 per sale, i'm pretty confident paid traffic will work out profitable for you.

      Of course on page/off page optimisation will help massively too, but that is not to say paid traffic would increase your profits in the quickest time. I know someone who has the worst optimised site but still makes 100k/yr profit after spending 20k on advertising/year. He always laughs and tells me that when he gets round to optimising his site he might be a millionnaire, or he could just throw that 100k back in and make 500k this year.
      So I'm no PPC pro, far from that but Adwords is telling me that 50 clicks for my best keyword would cost 250 bucks, or 5 bucks a click - to make one sale if I follow the 2% conversion I have getting $97 in return (my main price per sale, no refunds or fees deducted).

      I would make a big loss of around $160 per day.

      The only way this would work is if I can get clicks for cents, but those keywords may not convert, don't know.

      We have 90% USA traffic so maybe Facebooks Ads are an option as you can highly customize your campaigns as I heard - never used it.

      G.
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      • Profile picture of the author Venturetothetop
        Originally Posted by bwh1 View Post

        So I'm no PPC pro, far from that but Adwords is telling me that 50 clicks for my best keyword would cost 250 bucks, or 5 bucks a click - to make one sale if I follow the 2% conversion I have getting $97 in return (my main price per sale, no refunds or fees deducted).

        I would make a big loss of around $160 per day.

        The only way this would work is if I can get clicks for cents, but those keywords may not convert, don't know.

        We have 90% USA traffic so maybe Facebooks Ads are an option as you can highly customize your campaigns as I heard - never used it.

        G.
        The only way to know is to test.

        What if you found some longer tail keywords at 20c per click and they convert at 0.5%?

        Well the maths says that 100 clicks would cost $20 and 200 thus $40. At 0,5% one out of 200 of these targeted clicks will convert... thus a sale ever $40.

        You have to do some experiments to see if those numbers are real, but if even the above guestimate is anywhere near being right, you are onto a winner.
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      • Profile picture of the author vickybabe
        Originally Posted by bwh1 View Post

        So I'm no PPC pro, far from that but Adwords is telling me that 50 clicks for my best keyword would cost 250 bucks, or 5 bucks a click - to make one sale if I follow the 2% conversion I have getting $97 in return (my main price per sale, no refunds or fees deducted).

        I would make a big loss of around $160 per day.

        The only way this would work is if I can get clicks for cents, but those keywords may not convert, don't know.

        We have 90% USA traffic so maybe Facebooks Ads are an option as you can highly customize your campaigns as I heard - never used it.

        G.
        Yes but i think that you will find if you work on your sales copy that these visitors will be highly targeted, resulting in higher conversions

        2% Conversion rate is not bad at that price point, but can always be improved, try bettering the offer with bonus packages, solid guarantee(if you don't have one) and work hard on gaining more affiliates

        There is a great course by Alex Jeffrey's Called the traffic rush system, which is the best i have ever seen on affiliate recruiting, only about $10

        All in all though, i would suggest buying some targeted traffic (set yourself some limits) go with the cheaper options first, adwords is pretty pricey

        And definitely go with the recurring income on the backend

        Just keep at it mate, you are on the right track, take some calculated risks and ramp it up

        All the best

        Mark Barrett

        p.s If you can make your affiliates more money they will love you, try adding multiple upsells, trust me this works
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  • Profile picture of the author klinks
    2 quick points.

    1. Get your current clients/fan base excited about what's coming in 2014. Optimize Press did this with the release of 2.0. Exciting your fans will create a nice buzz for a relaunch.

    2. Review the number of onetime affiliate sales. If this number is significantly high, consider making your affiliate offer selective and not open to the CB network at large. Those are likely rebate marketers.
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    • Profile picture of the author bwh1
      Originally Posted by klinks View Post

      2 quick points.

      2. Review the number of onetime affiliate sales. If this number is significantly high, consider making your affiliate offer selective and not open to the CB network at large. Those are likely rebate marketers.
      Could you pls expand on this a bit, I didn't got it.

      Thanks

      G.
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  • Profile picture of the author bostjan33
    Banned
    Well, here are a couple of things that come to mind:

    - do the upsells and aftersales. Most people would run away, when they see a price tag, especially if it's higher than a few bucks. So, offer something nice for a really low price, or better yet, for free. When they click to get it, show a well presenteed OTO. Even if they don't buy at the moment, you'll still have their email for later promos.
    - focus on new affiliates more than traffic. Connect with niche bloggers and offer them a super aff. feature with much higher commission.
    - make a dull niche like accounting (sorry) more attractive to your prospects. Instead of just pointing out the features, highlight the benefits, not directly connected to features (such as career advancement, etc.).

    Hope this helps a little. Good luck
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  • Profile picture of the author mervynchan
    Looks AWESOME ! How does it work? Do you sell solo ads?
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    • Profile picture of the author bwh1
      Originally Posted by mervynchan View Post

      Looks AWESOME ! How does it work? Do you sell solo ads?
      Hey there.

      No, we never sold any solo ads, may look into this as our list is now around 4k (for the free tutorials).

      I will never send a solo to my buyer list, unless it's totally relevant and a top notch offer.

      G.
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  • Profile picture of the author bwh1
    My new sales page copy is almost ready and I would like to ask you guy's to take a look at it and give me some general feedback.

    I do not send traffic to it at this moment, so I can change what I want easily.

    www.qbuniversity.org/landing/

    I'm still testing the slide up ad at the bottom and the exit popup at the top when you try to leave the site. Would be cool to hear your opinion which of both is better.

    Many thanks

    G.
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  • Profile picture of the author sarah23
    Your plan looks like working one to me.
    Webinar is something you should really be focusing on. A good way to boost sales is effective webinars.
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  • Profile picture of the author IMProductReviews
    These skills can easily build you a 100k business. Follow them below

    Skill No1 - Skill No1 is mindset, I bet you are thinking mindset isn't a skill and your right if you think that. It's more of a commitment to develop your mind. You need to develop your mind to develop your business simple as that. You can find development and mindset videos on youtube. For example: Les Brown, Tony Robins.

    You need to read books to do with being successful online. For example "Think And Grow Rich and there is many books out there. I recommend you to read on a daily basis, same as listening, like a said listen to Les Brown, Tony Brown etc its on youtube, and also do this on a daily basis

    Skill No2 - Skill No2 is Ability to get leads. Now this is a skill, this second component is very important if you can't get leads then you don't have a business. The question is how do you get leads/subscribers?? The answer to this question is TRAFFIC. You need traffic to get leads. If you don't get traffic you won't get leads.

    There is so many FREE strategies out there to market your business online for example: Video, Guest Posting, Facebook Groups, Forum Marketing and there is so many more out there go check them out, and also use the strategies I have provided above.

    Skill No3 - Skill No3 is to have the ability to convert leads into customers. This is another skill you need to master in order to be successful on the internet. If you don't have this skill it will be quite hard for to make sales, you might make the odd sale but won't make to many, you don't want leads just sitting in your auto responder and your doing nothing with them.

    Start learning these skills, if you master these skills you can explode your business to the next level.

    P.S. I will be be doing a 4 part training series to do with these 3 skills.

    Hope this helped

    Louis Betts
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  • Profile picture of the author gjabiz
    http://www.soilandhealth.org/03sov/0...f.Diamonds.pdf

    The above link goes to one of the many files which contain Russell Conwell's Acres of Diamonds. Read it today.

    Why?

    You have 700 customers. ALL confess to needing help with QuickBooks, Right? Why?

    Who are these people? Do you know your customer? I do. Most are either new or emerging businesses, most are Mom and Pop, few employees types of operations...otherwise they would have this accounting need met.

    WHAT businesses are they? BECAUSE, at least 695 of them would like to have more customers (like yourself) or they would like to have more sales from their customers, or need some marketing help.

    And here you are at a forum loaded with marketers and small business experts, I bet you could find one that is or was in the business of almost every one of your customers. Maybe, you could hook them up?

    Maybe you can offer some real world expertise which will help them grow THEIR businesses, and by doing so, grow your own.

    Your 3.5k prospects MAY want to know about other businesses, or how to grow their QB along with their profits.

    Just my OPINION, but you seem to be looking over the diamond mine, whilst you are out looking for the gold.

    gjabiz
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    • Profile picture of the author bwh1
      Originally Posted by gjabiz View Post

      http://www.soilandhealth.org/03sov/0...f.Diamonds.pdf

      The above link goes to one of the many files which contain Russell Conwell's Acres of Diamonds. Read it today.

      Why?

      You have 700 customers. ALL confess to needing help with QuickBooks, Right? Why?

      Who are these people? Do you know your customer? I do. Most are either new or emerging businesses, most are Mom and Pop, few employees types of operations...otherwise they would have this accounting need met.

      WHAT businesses are they? BECAUSE, at least 695 of them would like to have more customers (like yourself) or they would like to have more sales from their customers, or need some marketing help.

      And here you are at a forum loaded with marketers and small business experts, I bet you could find one that is or was in the business of almost every one of your customers. Maybe, you could hook them up?

      Maybe you can offer some real world expertise which will help them grow THEIR businesses, and by doing so, grow your own.

      Your 3.5k prospects MAY want to know about other businesses, or how to grow their QB along with their profits.

      Just my OPINION, but you seem to be looking over the diamond mine, whilst you are out looking for the gold.

      gjabiz
      You have a point, a very valuable point and to make it short, we thought about a year ago to offer some sort of Marketing to those clients.

      What held us back was the point that they most probably will look at this as a spam offer and as we are known for resolving Quickbooks problems, what credentials we have with Marketing (in their eyes).

      So I think that we would need to be very carefully with this here and have to do it over 3 steps

      1 - separate the leads which are interested into getting Marketing content from the ones NOT interested - we have to split the buyer list

      2 - deliver a ton of free tips first to build trust before we

      3 - start to run any paid offer.

      But this is DEFINITELY a part of the whole business model we have to improve, very well noticed.

      G.
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  • Profile picture of the author Mike Hill
    If you want to reach the $100,000 level then you are going to have to reinvest every penny into paid traffic sources and test your sales page. Keep testing and making small changes to increase your conversions.

    To say you can't pay for advertising due to low conversions tells me you need a better converting sales process. You know what the problem is, now you have to make it happen.

    Start with learning more about your existing customers. What are their demographics? Why did they purchase your product? Survey your existing customers and use that data to target new customers.
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  • Profile picture of the author celente
    i already have this, and beleive it or not, all or most from clickbank.

    And all from list building.

    YES! a minority of warriors say listbuilding is crap! or doesnt work! However it means, they have never tried it propery or at all.

    Once you learn how to do it properly, it is lifechanging as it was for me.

    Engaging an audience, and building lists of buyers, that is how I did it, it was easy, but at the same time complex and very hard road. But I did get there eventually.
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  • Profile picture of the author lotsofsnow
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    • Profile picture of the author bwh1
      LOL, just the but kick I needed

      seriously, that's what we are after so the question is "how to beat the competition", which is Intuit itself which has a hoard of courses they push to their Quickbooks buyers, similar to Microsoft.

      They have also a hoard of certified QB Advisors all over the country and many businesses prefer personal support. That's what we are going to offer in our new funnel by the way as the higher priced product.

      They have the top listed spots in Google for the main keywords so they siphon a lot of traffic into their funnel.

      We DO convert 2% right now, but I want more. When we where at first page on Google, prior to Panda, Penguin, we got 2-3 sales a day and converted 4%-5% without doing anything. We got a bit lazy back then.

      Thanks for the statistics, I knew those figures but it's good to be remembered. I would like to know what they add YEARLY in new customers as the 5M users are in total, desktop and online version. Think it's the 250Mil figure someone mentioned, couldn't find the exact figure yet.

      We are overhauling the whole product, adding upsells and recurring offers so we will improve the funnel a lot.

      If that works well and we know our visitor value from the new funnel we have to figure where to buy traffic for a reasonable price.

      Getting there

      G.

      Originally Posted by hpgoodboy View Post

      No kidding.

      You are selling a course about Quickbooks and only sold 700 units total?

      You are definitely doing something very non-optimum.

      Quickbooks is America's #1 best-selling accounting software.

      Based on Quora (How many customers does Intuit have for QuickBooks? - Quora) there are 5 million users for Quickbooks.

      Now, let's assume that your course is top-notch, you should be able to sell 700+ units a month. Even 10,000 a year should be possible.

      If paid traffic can't make you a profit: Raise the price for your product and work on your funnel and upgrades.

      Quickbooks costs $200 a year for the regular license.

      Now, if somebody has no clue about that software those $200 are wasted. Whether somebody spends $77 or $149 for example for a good training would
      probably make a difference in your bottom line.

      You should be able to tweak your sales page to convert at 2% for highly targeted traffic at $149.

      Then you can also charge yearly for updates as Quickbooks comes out with a new version every year and the changes are NOT always subtle.

      With the right guidance you can turn this into a $100k per month business. Seriously. If you are happy with just collecting the scrap that is left over fine, but why not turn this into a real business.
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  • Profile picture of the author Stuart Walker
    Work on your conversion rate and improving your funnel before you spend time and money on more traffic.

    If your conversion rate is only 2% increasing your traffic won't change that.

    Work on increasing your conversion rate as high as you can THEN spend time and money on traffic and you're laughing all the way to the bank.
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  • Profile picture of the author Tsnyder
    Here's the honest truth... and the reason most people fail...

    EVERYTHING you wrote in the OP is NOT A PLAN... it's a goal.

    A goal is what you want to do... increase traffic... increase JV
    partnerships, etc.

    A plan is HOW you will do it. You wrote nothing about how... you do
    not appear to have a plan.

    Until you can zero in on HOW you're going to do those things... with a
    great deal of specificity and detail... you will continue to get the same
    resaults you've been getting.

    Once you zero in on how you're going to accomplish those goals
    the only thing remaining is execution... that's the easy part!
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    If you knew what I know you'd be doing what I do...
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    • Profile picture of the author bwh1
      Originally Posted by Tsnyder View Post

      Here's the honest truth... and the reason most people fail...

      EVERYTHING you wrote in the OP is NOT A PLAN... it's a goal.

      A goal is what you want to do... increase traffic... increase JV
      partnerships, etc.

      A plan is HOW you will do it. You wrote nothing about how... you do
      not appear to have a plan.

      Until you can zero in on HOW you're going to do those things... with a
      great deal of specificity and detail... you will continue to get the same
      resaults you've been getting.

      Once you zero in on how you're going to accomplish those goals
      the only thing remaining is execution... that's the easy part!
      Thanks for your input and you are correct, my post is missing time frame, a "how to" and the costs to do it.

      We maybe miss a few bit's but I started to setup a plan, with the help of you guy's it was a bit easier.

      I would like to say thanks to whom posted a feedback, it really helped us to get a better feeling where to go from here.

      - Improving the existing front end product and going deeper into the niche
      - adding a better funnel and a recurring offer
      - Creating much more free material which creates social buzz what leads to more Authority, trust and more sales
      - improving affiliate area and getting more affiliates on board
      - Producing additional products which fit's into the demo of our list, relevant and/or highly valuable for our buyers
      - Offering products as affiliates to our lists
      - Ad swaps with relevant list owners

      Let's take some action...

      G.
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