How to Turn Your Buyers List into a “Cash Money List”
Human psychology is fascinating. One of my favorite things to do is discuss with my friends the crazy stories of fights that we have in our relationships with our wives and girlfriends. There are some fundamental differences between men and women that will never change, and that will always be universal and hilarious to talk about.
I brought up the topic of human psychology because in my marketing efforts over the last few months I came across a very interesting (and profitable) discovery.
Let me explain:
One of my websites and products is in the small business niche. To make a long story short, when someone buys my ebook they are taken off of the “freebie list”, and automatically put on my “buyers list”. The buyers list is a series of autoresponder messages that runs over the course of six months and provides more information on the niche as well as affiliate offers sprinkled through the messages… pretty standard.
I did a little experiment…
So… a few months ago I decided to purchase Ryan Lee’s ‘Nano Continuity‘ program because several marketers I trust said it was very high value. In a nutshell, the program teaches you how to setup “mini membership” sites where you charge a very low monthly fee, usually lower than $10 a month. The idea is that at such a low price per month, you’ll get a lot of members as well as a very low cancel rate.
So, I decided to implement a variation of this with the customers that had purchased my ebook on the small business site I mentioned above. What I did was I sent an email to 50% of my buyers list that offered them a $5 per month membership where they would get exclusive content from me each month that wouldn’t be anywhere else. I was pleasantly surprised to see that I instantly had 12% of the recipients sign up for it, with another 4-6% sign up over the next few days.
Now, you obviously need a decent amount of people to sign up at $5 per month to make any real money, but here’s where my experiment got very interesting…
Where it gets interesting…
So I obviously delivered on the promise of exclusive content to my membership subscribers, but what I also did was keep the regular “buyers list” autoresponder messages in place. What happened with this is that the messages that promoted an affiliate offer that went to a membership subscriber converted 23% higher than the exact same email that was sent to non-membership subscribers. I what I just tried to explain makes sense.
Basically what I’m saying, is that the people that I was charging money for essentially the same content that was free to others, were MORE willing to spend even more money.
I think that’s pretty interesting, as well as great news for us marketers.
Also, if you have been thinking about starting a membership site, or you have a buyers list that you want to get the most from, I would highly recommend you check out Nano Continuity.
Leave a comment…
Did you enjoy this post? Take a minute and comment below, or give the rest of us some of your own ideas on what you do in your business that’s making money for you.
…and if you think it’s worth sharing, feel free to re-tweet this or share it on Facebook.