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(Formula for Success: Online Prospects + Direct-Mail
Responses = Obscene Profits!)
I believe that I have developed an almost perfect
way of soliciting, and then selling, new customers.
A way so powerful that it's almost scary. And yet,
so basic, that you (or anyone for that matter) can
duplicate the process and start cleaning up for
yourself. Let me explain . . .
In Issue #2, I talked at length about why BBS
users
weren't really that good as customers. Remember? They
had low income, no credit cards, they were young, they
were advertising intolerant, and they already had
massive access to information.
After reading that piece, I had people wondering
whether marketing online was even worth the trouble.
(Even I wondered there for a while!)
But then, I discovered America Online (AOL),
CompuServe, and Prodigy. It quickly became apparent
that online services and bulletin boards were very
different places indeed. If fact, the average CompuServe
subscriber is almost the exact opposite of the average
BBS hacker (at least demographically).
Here are the facts as I see them:
> Because they are usually required for service, most
people online have access to a credit card. (Remember
this, Credit Cards = Disposable Income!)
> Most of the people online are employed in a professional
or semi-professional field. The average income is
definitely above $50,000 and often above $100,000.
> Because they subscribe to an expensive online service
instead of a free or low-cost BBS, these users are
declaring (by their actions) that they are willing to pay
for information and information access.
After personally interviewing many of my own
customers,
I find they are a very passionate group. They aren't
afraid to spend $2,500 for a seminar, $195 for a newsletter,
even $100 for a book, if they can be convinced the purchase
will bring them closer to their dreams.
The people I have interviewed are doctors,
lawyers,
small-business owners, entrepreneurs, public speakers,
and other respectable individuals. They are of above
average intelligence, they are multi-talented, and they
all seem to work their butts off to accomplish their goals
in life.
Overall, good people to do business with and
good
people to know. And now, easy to identify.
You see, one of the greatest things about being
online
is that it's not too difficult to find and contact
particular individuals who share your interests (or who
would be interested in buying your products).
They hang around the classified areas and "Forums"
created by the services to promote the exchange of products,
ideas, tips, and services. For example, CompuServe has a
forum called "Train-Net" which deals with . . you guessed
it, trains. Model trains, steam trains, electric trains,
and every other kind of train you could possibly imagine.
AOL has "Bike-Net" which deals with bicycles,
the
photography forum is for photographers, and of course,
the entrepreneurs forum for entrepreneurs.
The Internet has thousands and thousands of
forums,
news groups, and mailing lists on almost every subject
imaginable. (Just what is "Throb-Net" anyway?)
As I explained last month, in addition to message
areas and chat areas, almost all forums have a file
library. This is where those ideal customers we are all
looking for go to find interesting things to download.
Maybe it's a demo of a software product, or
a dirty
picture someone scanned, or maybe, just maybe, it's a
report of some sort. So listen up:
Last issue, I told you about a file post I
made to
the AOL "Business Strategies Library." (Keyword: Business)
A post that didn't cost me a dime to send or create.
It was basically a revised version of Issue
#1 of
this letter. I finally got confirmation the file was
posted online on 1/4/94. Within an hour or so, I had 11
downloads. I attribute most of the hoopla to the fact
that the headline read: "Online Marketing Strategies."
Well guess what, I just checked and as of today . . .
Over 734 people have downloaded that file!
And that means that over 734 people have now
heard
of me, have been exposed to my writing style, have had the
opportunity to call me, and are excellent prospects for my
goods and services!!
And all that for free!!!
But hey, it gets better. You see, another
library
in AOL, The Cowels/SIMBA Network, picked up on my letters
and posted them without me even asking them to!!
Over 300 people have downloaded those files!!
Plus, I posted a file last week titled "Secrets
Of
Direct-Mail!" 60 people have downloaded that file.
Basically, I'm getting lots and lots of free publicity,
something every business wants and every business needs.
People call me every day based on those postings.
They want information on the newsletter, on my product
Direct-Marketing Firepower, on our software, Profit Finder,
and on my consulting services. And again, I didn't pay one
thin dime for all that free publicity!
Would you like to join me in this fantastic
new
marketing method? Yes? Well, here is what you do.
Assuming you are already online with at least one major
service, write up a two or three page report with a high
degree of news value about your product or service. If you
are a mortgage broker, your report could be titled:
"How To Properly Apply For A Residential
Real Estate Loan, And How To Get Accepted
Every Time"
It would detail all of the things people should
know
about loans: How to apply for them, when to apply for them,
how to fill out the application, about the commitment
letter, everything.
And then, at the close of the report, you mention
all of the benefits of using a qualified mortgage broker
over a banker or Realtor. You offer your name, address,
and phone number without making a blatant sales pitch.
Now who do you think would download a report
like that?
I'll tell you who, someone looking for a residential real-
estate loan, that's who! And that, my friend, is just about
the perfect prospect for your services! All for a small
investment of your time.
If you have a gourmet coffee company and offer
a mail-
order catalog of your products, your report could say
something like:
"How to brew the perfect cup of coffee"
or,
"How to grow the perfect coffee bean"
If you are a tax attorney, your report could
say
something like:
"How to reduce taxes legally"
or,
"Creative tax strategies for entrepreneurs"
If you are an insurance agent, your report
could say
something like:
"How to read an insurance policy"
or,
"The 10 most common exclusions in a standard
fire insurance policy that most people are unaware of"
Etcetera, etcetera, etcetera. Get it?
Combined with the other online marketing methods
you
use (like classified postings and chat area discussions)
these easy to implement strategies can increase your
inquiry count by 10% to 15% for a one-time 20 minute
investment!
"How To Make Your Direct-Mail Sales Explode!"
Now listen up. There are many opinions
about how one
should respond to online inquiries. You are, after all, in
a unique position to present your sales message to a very
interested prospect very quickly (sometimes within minutes).
But, some customers who inquire will leave
you a
"physical" address, instead of an e-mail address (no matter
what you ask them to do). How should you handle these?
Well, at first, I just ignored the physical
address
and e-mailed the electronic sales letter (in a text format)
I had prepared. I didn't really concern myself with the
customers desires. If they wanted "physical" mail, that
was just too bad. I was, after all, an online-marketer
(big mistake on my part)!
But then, I started to wonder what would happen
if
I complied with my customers wishes and sent their
fulfillments via "snail" mail. Therefore, I prepared a
direct-mail sales letter (one of my best) and sent it out.
My e-mail response rate on the electronic version was about
4% (very good) but I thought maybe, just maybe, it could
even be better.
I started capturing physical addresses and
continued
until I had about 100 names. I sent the direct-mail sales
letter to these people. Within two weeks. . .
It Generated Better Than An 10% Response Rate!
10%?!? Impossible you say! But
it's true. Why?
Here's the deal:
1. Because I had "pre-tested" the ad copy online (for almost
no money), I already knew from my electronic-mail tests
which headlines worked best, how much I could charge, which
credit cards I needed to take, which offer was most
appealing, etc. Thus, when I did my first "physical
mailing," it was essentially a pre-proven winner!
2. I realized that if people requested a response by "snail"
mail, they probably had a pretty good reason. Maybe the
computer they were on wasn't theirs. Perhaps it was their
friend's and they were just checking it out. My e-mail
response would go to their friend, who hadn't requested it,
didn't want it, and probably resented getting it.
3. Maybe they didn't know how to retreive their e-mail
messages (yes, there are still beginners out there).
Perhaps they were hoping my "Online Materials" could help
them. (Not much help if my sales letter was stuck in an
electronic mailbox or file area the prospect couldn't get
to, right?)
Or maybe they just didn't
like e-mail. Maybe they
wanted a laser printed, paper and ink type sales
solicitation. A letter they could hold in their hand.
Something that cost me twenty-nine cents to send them.
Who was I to argue!?!
Plus, another added benefit to using direct-mail
occurred:
When I stopped sending out un-requested e-mail, my e-mail
response rate shot up like a rocket!!.
This was of course due to the fact that everyone
I e-
mailed requested the e-mail. (No more wasted online time.)
I became much more productive. In fact, I can't even keep
up with all of the activity going on around here. And that,
my friends, is the scary part.
You see, last Monday, I got so many responses
I couldn't
believe it (I couldn't keep up with them all). Over 90
inquiries in one day (51 from CompuServe alone), and
another 40 from America Online. A record for both! (Not
to mention another 22 from a space ad I had placed in
Profits Magazine!)
Over that long Presidential Weekend, I reveived
two
hundred and something inquiries for about $20 in total
online costs. (If you are good at math, you know that's
less than ten-cents apiece, which is ridiculously low for
fresh, qualified leads!)
I was up till 4 in the morning both Monday
and Tuesday
night, stuffing envelopes, entering names in my data-
base, sending e-mail, and best of all, preparing orders for
all the customers who bought my products.
(If you are one of those customers who bought
something, regardless of what it was, I'd like to thank
you again for your business. I try extremely hard to
offer as much value as possible, and I really appreciate
all of the post-cards, calls, and especially all of the
e-mail.)
So, what I'm saying is this: Here is
a five point
plan for online-marketing success that you could implement,
test, and start profiting from in less than one week!
1. First of all, test your classified ads online to get a
handle on your customers "hot buttons." AOL, for example,
lets you place free ads 24 hours a day which are posted
within seconds. You could test a headline or some ad copy
and know within an hour or two whether or not it had any
appeal.
2. Write your 'reports' and find appropriate forums and
file libraries to post them in. Use the "hot-buttons" you
discovered from your classified tests to develop the report
titles and descriptive text.
3. Spend some time in the chat areas pertinant to your
business and learn as much about your customers as you can.
4. Create "text" files and e-mail versions of your sales
letters to send to your inquiries. Test different headlines,
prices, offers, time limits, bonuses, premiums, titles,
anything and everything and then. . .
5. Use that intelligence to create a "perfect" direct-mail
sales letter. One with tested pulling power, appeal, and
"proven copy." Stop fooling around with expensive tests
and roll out with a winner the first time!
How's that for a plan? See you next issue!
Sincerely,
Jonathan G. Mizel
PS: In the next issue, I'll teach you how to hire a robot
to do all of your "dirty work," and how to improve your
efficiency by 100% or more virtually overnight!
*****************************
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