I have an instant money-making experiment I’d like you to try next year:
I want you to figure out what your ideal clients really want (and need), and then create an offer that’s so small, so value-packed, and so inexpensive that it’s almost impossible for them to say no.
Yes, it sounds counter-intuitive. Entrepreneurs believe we’re supposed to create the biggest offers we can so we make the most amount of money from every client. I understand why a mini offer sounds like a bad idea. But, hang with me, I think I’ll change your mind.
Last year I tested my tiny offer idea and ended up getting a 181 percent return from my effort. Yes, I said 1- 8- 1 percent. I made $9,000, and all it took was a small, but mighty offer and email. My experiment became an instant money maker.
Before I tell you about how it blossomed into a windfall, let me back up and give you a little backstory: For the past several years, I’ve worked with a lot of small business owners, helping them write copy and create market strategies. I’ve created robust packages that help them write website copy, ebooks, Facebook ads, and other types of online marketing. But in spite of my big packages that promised big results, some of my clients wanted something smaller. It turned out, big packages that offer plenty of value are oftentimes overkill. What some of them really wanted was just an hour of uninterrupted, focused time with me. Many of them were looking for something simpler, something they could take action on immediately to get fast results.
Sometimes, less really is more.
With this in mind, I decided to try an experiment. I created a $97 mini offer called the Copy Clinic coaching call and emailed the offer to my list. I honestly didn’t know what to expect, but, I figured I had little to lose. The whole thing took no more than 2 hours to create. (If you’ve been around for a while, you might remember when I offered this in January).
My mini offer had one caveat: There was a deadline to purchase the call. The offer was only valid for one week. (This was the urgency element that helped people make quick decisions.)
One of the perks of the offer was that the Copy Clinic call could be used anytime during the year, up to Dec. 31, 2016. And the best part? The client got to decide what we were to work on and how they used their 60 minutes.
Small investment, big return
The return on my 2-hour investment was immediate, and it rippled through the rest of the year. Here’s what I mean: After I emailed the offer to my list, I got an instant response. I sold 11 coaching Copy Clinic calls in just 2 days. That’s a profit of more than $1,000 from just one email.
But that’s not the end of the story. From those initial calls, two clients converted and purchased higher level packages with me: One invested in The List Magnet, and the other invested in my All Access Pass.
I was obviously onto something. My ideal clients like having the option of scheduling time with me through a mini session, rather than buying a big package that offers more than they need.
So, I decided to make The Copy Clinic a regular offering. Over the course of the year, 5 more people purchased Copy Clinic calls. Two of those clients converted and bought packages; one was a one-and-done job; and the remaining two calls are scheduled over the next couple weeks.
From my initial time investment of approximately 2 hours in January, to date, I’ve earned more than $9,000.
This experience taught me two things: One, while every offer I made needs to give high value, not every offer needs to be a high-dollar package. Small offers can lead to big results, provided they include what your ideal customers actually want. And two, mini offers can lead to bigger sales later. I was able to build rapport and trust through my Copy Clinic calls, which made selling higher-level packages easier later on.
Now it’s your turn!
So, are you ready to try an experiment of your own? January is right around the corner. Why not create a mini offer and test it out, and see where it leads?
Below are a few tips to help you get started:
Start with your offer. What’s a small, inexpensive offer can you deliver to clients — one they actually want. Ideally, it should not require a lot of effort for you to deliver. It should be a small investment of time, energy, and money for you and for your clients.
Send an email to your list. Share your mini offer with your email list in a regular newsletter or as an end-of-year special. Ensure your email includes these 5 elements:
- A headline that grabs their attention.
- A clear description of your mini offer and why it’s a perfect fit for anyone who wants to work with you, but doesn’t want a full blown package, yet.
- A list of the features and benefits of the offer. Remember, this is a mini offer so don’t over do it.
- A reminder that’s it’s a LIMITED TIME OFFER. (It’s an experiment. It should have a start and end date so you can see real numbers at the end of the year). The urgency will help people decide to take action.
- A clear call to action. Tell them exactly what to do next to get the offer.
Create the next-step system. What happens next should be seamless for your clients. You want to elegantly usher them through the buying process. Think about how the process should work when it’s done, and done well. The client experience is just as important as the sell itself. Don’t drop the ball with a clunky system after they raise their hands and say yes!
Track your results. Create an excel sheet or something in Quickbooks to track how many mini offers you sell, how much you make, who purchased the mini offer, and whether they became repeat customers later in the year.
It’s that simple.
But it started with a solid email list of warm leads. Are you ready to start building your own email list? Click the image below to read a post that can help!