Why do we promote other products?
Posted by Phil Doolan, Last modified by Phil Doolan on 25 April 2013 01:35 PM
We've had this question many, many times before and this is the question and response Andy has given to other people...
I received your email "Every Guru Had A Teacher First" today and had a slight dilemma! I clicked through to Dr Robert Anthony page, read the whole thing, downloaded the free book, read that and could see he was one of you teachers. Anyway I nearly bought the course but at the last moment I stopped and thought about it. I had just spent over an hour of my valuable self development time on another product when I should have been working on ABFM!
I remember you writing in the book to not be distracted by other products and not to start diversifying, like I have always done in the past, I know you might say that this course compliments ABFM, but I am finding my ego getting involved here and all for the wrong reasons. I wrote this here as I know you get a commission per sale and don't want to tread on any toes. I was just wondering if you had thought of this possible sabotage in the making.
Thank you for the consideration of writing this here. But I'd be quite happy to answer on the site when someone asks this question, or if you'd like to post your question and this answer then feel free as I am sure others would like to hear my explanation too.
In UABFM I wrote about how Dr Anthony's course is one that should be purchased when you've gone through the Bug Free Mind stuff as I genuinely know it has value. But, I have people on my mailing list who have been there since 2006 so everyone is at different points of their journey and when I find a product I like or think offers value then I promote it...
Of course I get paid a commission but the sort of money I get paid for these promotions is not why I do them. I do them because they add value to a proportion of my mailing list... That ALWAYS must be the primary goal. Whenever possible I only promote some things to some of my list as it is segmented down.
But my ulterior motives are very simple, I do not do this for the money I am paid if someone on my list buys. I can openly say I don't even check the account to see how many sales have been made, as it holds no interest for me. That is a fringe benefit which I use to pay some bills and buy things with through Paypal for the business... So there's no big financial gain...
However, where there is massive gain for me is I do this for the reciprocal mailing that Dr Anthony did to his mailing list for me. What this does is it exposes A Bug Free Mind to a very targeted group of people. And this week around 2,000 new people have joined my mailing list. And over time around 100 to 200 will buy into ABFM in some way. That's where I make my money as for everyone who buys I currently sell an estimated 0.8 more products through recommendation.
But that isn't the primary reason why... As customers are great and they are the lifeblood of a business, so I must have them... BUT the real reason why, the real ulterior motive is I get DATA... And I get this date for free, thanks to the reciprocal mailing.
So I am able to work out what works and what doesn't and therefore get my message better and better... I am shortcutting the learning and expenditure curve in the process.
I have JV's as we call them lined up already for the next 2 months (we do an average of 2.5/mth) and we have a number of others that we are talking with which will easily line them up through to the end of the year (because I am in this world big names are now approaching me). The time involved is the time it takes me to review the products and make sure they are of value. I have walked away from so many lucrative deals because the products were of low value to my list. One last year was simply worth a fortune to me but it was low value to my list as a whole and that has to come first.
Now what I have gained in the last 4 JV's over the last 6 weeks is I've roughly got this data, a growth of optins from 28% to 48% (massive difference). A growth in prospect to buyer of 0.9% to 2.1% (again a massive difference), A growth in average order value from £68 to £80 (again a massive difference)... And that's from just 4 broadcasts, so within the next few months I expect to have my conversion at somewhere between 3.5% to 6%... That is my ulterior motive as once I get those figures right then I can turn this baby on!
Before 1,000 optins were worth £612 in sales
Today 1,000 optins are actually 1,700 and are worth £2,856
A 466% increase in optin subscriber value so far...
There is no reason why I cannot get this to 5% conversion with testing too, so I expect between now and Christmas to double this and therefore have achieved at least a 1,000% improvement... And I do that before I carry out 'proper' paid advertising tests. Profitable business means I have the resources to carry this message as far as it can go, and that's my primary ulterior motive :-)
You and everyone else are earlier than the early adopters of ABFM... You are at the very beginning of this business and my mission... And my mission being to change the world and make it better by raising everyone's intelligence (not necessarily the right word, but please understand the intent behind it) so that my selfish interests are solved... I.e. my great, great, great Grandchildren have a good world to live in, the by-product is of my design that yours do to, just so we are clear on the fact that I am not altruistic but purposefully selfish!
So when you see these promotions come out, this is how you should view them:-
1) Click through and take a look...
2) Ask yourself can this help me now with the stage I am on?
3) Yes, then buy it as Andy wouldn't recommend sh*te - Or no, then ask yourself - will it help me in the future? Yes, then bookmark the page, No, then hit delete, Maybe, then bookmark the page...
As if you are meant to buy it or see it again, then your subconscious mind knows where to find it doesn't it?
Thank you for asking me to explain all this, I think I should put this up as a blog post, are you OK with me saying you asked me the question? And of course, how do you feel about my answer? I would be VERY interested to know?
PS Just by you clicking and taking a look you are helping me, as you are establishing my credibility to future potential JV partners. So that on it's own would help me.
I think I wrote the above thinking on an individual basis and not realising that everyone is at a different stage of learning A Bug Free Way. You do say you segment you mailings. Perhaps because I have been learning since Jan 2012 (6 months) I am in a segment that is ready for extra tuition from different teachers.
I can categorically state to you Andy that I am nowhere near ready. Your work is one hell of a learning curve for the average Joe and just to think about thinking is hard enough, let alone to think about applying it all and then actually applying it. It is all so confusing if you only take a passing interest in the books. This is enough for me to cope with, without any more distractions. Although saying that, the more I apply everything taught the easier it gets. Each read I learn more and more and can drop more and more as I go along as I just know it from the last read and I can imagine that I will get to a stage when I can branch out to new teachings. But just not yet.
I reckon I will be at least another 6 months before I can see any outside progress in my life, you have to be so dedicated to learning this, it takes up a lot of time and I think a lot of readers just won't put that amount of effort in to get where you want them to get. Although I do like the updated bits you have put into the audio compared to the book. As I feel the extra detail you are putting in to get readers to realise that this is more of a way of life and it has to be read and re-read is commendable as I feel this point has to be banged home. Reading the book once has no benefit at all!
Anyway, because of the above I have put Robert's course on the back burner for the time being. Nothing is going to stop me from learning the way first!. I certainly think that it would be beneficial to add this to your blog, as if I thought it, then many others will have as well. Thanks for the comprehensive answer by the way Andy. I reckon you needed to write that down as much as I needed to hear it, and I do get your motive. More readers of ABFM.
All the best