One of the busiest weekends for marketers have passed, hope you were prepared and monetized on the whole buying craze. Sure, as hell I did.
I did two big promotions for my self-improvement business, learned a lot from them and now want to share all the details so, you could apply the lessons and strategies to your own online business.
Facebook Contest – Promotion #1
The first promotion that we did (when I say we I mean myself and my business partner) was a Facebook contest. I will describe all the steps that we took to run this contest. First step giving away something that everyone in your niche would want.
We gave away the newly released self-improvement book “Hero”. The book is written by Rhonda Byrne, the same person who wrote the famous book “Secret”. So, it’s kinda big deal in the self-improvement niche.
First step giving something that everyone would want. Check!
You see, the aim of the contest was to generate leads, a lot of people who are building fan pages struggle with that. They spend hundreds of dollars getting those Facebook likes, but they have a hard time converting fans into subscribers. So, the genius part about the contest was that people would need to optin to participate in it.
Also, people had to like the post. Listen, this is a crucial element, because those likes help your post go viral and attract tons of eyeballs for free.
So, the optins are what makes us money and likes generate the traffic. I would say this is a perfect structure that we learnt from Ryan Deiss, whole credit goes to him.
The last step is to advertise the post yet, only if you see that it isn’t going viral by itself.
We spent roughly $70 for Facebook ads and the prize. Managed to generate 125 leads at the cost of $0,56 a lead. Of course we generated some likes for the fan page, but it’s really hard to put a price tag on that.
Anyways, 56 cent leads are amazing. At a price like this you can be spending money on ads whole day long and make a profit.
A key for success is advertising to highly targeted people, I went as far as creating a custom audience from The Secret fan page and advertised only to people who would definitely want the Rhonda’s book for free. Now, the cost per lead could have been even lower, if I had a bigger fan page. I think with a fan page that has 30 000 – 50 000 fans a contest like this can go viral on its own without any advertising needed.
Listen, this works and it doesn’t require a lot of effort to do this so, just try it out. Also, I shot a video where I explain how this strategy works.
Black Friday 75% Discount – Promotion #2
The second promotion we did was a deal to get our new product with a 75% discount. So, instead of paying $27, you would pay only $7. It was actually a price point that we wanted to test out to see how it would convert.
But we didn’t just lower the price to $7, we said you need to share the sales page on Facebook to get the $20 discount (JVZoo makes it easy to do so).
Guess what happened? Well, if you are a subscriber on my internet marketing list you already heard the full scoop, if you aren’t I will tell you what happened.
Only 4 people out of 10 shared and got the $20 discount. All the others were just happy to pay the full price. Listen, it wasn’t like I wanted to hide the option to get the discount. I had it mentioned in 5 places, it was really hard not to see it.
I’m not sure why this failed. Maybe some people thought the $27 price was a discount, maybe they didn’t want to share it on Facebook or maybe they just don’t have a Facebook account, it’s hard to tell really.
So, we ran that for a day and changed it to $7 and gave a $1 discount for sharing and that brought in a lot more sales. Strangely enough a lot of people shared the sales page for just $1.
One more strange thing that happened was that we made one trial offer sale which is $1 for 7 days and after 7 days they get billed $26. We actually forgot to change that and we are planning to get rid of it altogether, but somehow this offer seemed more attractive to someone than just paying $7.
You need to make it dead easy for you customers. One extra road block that you put can decrease your conversions dramatically. The same is true with squeeze pages the more form fields you have, the lower the conversion rate. So, if it looks simple to you don’t assume that it will be simple for others.
So, if you are struggling with converting your Facebook fans into leads then definitely try out doing a contest. Now, you don’t necessarily need to giveaway a book, it can be anything that would be perceived of high value to your fans. Warning though, don’t get too crazy with your prizes, one good one is enough. And always keep in mind to make it easy for your customers.