How We Made $860.50 and Got 2061 Subscribers By Giving Away A Free Report
October 14, 2007
Ok I know this is slightly overdue.. But just wantd to share how Patricia and I made over US$860.50 and generated over 2061 subscribers to our own lists recently by giving away Russell Brunson’s IM Myth Report.
By the way, Patricia was in the top 10 referrer’s list, just slightly losing out to Mike Filsaime but managed to edge out Gary Ambrose. Lolz! And we actually did that without even blogging about it on our personal blogs, though I did make a post on it at Kanggie here. Hence, this should really broaden some people’s mentality that a blog is the only platform to make your promotions.
Well basically, the IM Myth Report was a report which Russell talks about how he integrates offline marketing with his online marketing efforts. It was an awesome report really as a ton of ideas flooded my mind instantly and I can’t wait to execute them.
Nonetheless, the crazy thing about it was Russell was paying $1 for everyone you refer to download his report and $0.50 for everyone your referrals refer. Hence, it was a two tier pay per lead campaign.
Not surprisingly, skeptics were abound as many of my subscribers even doubted the authencity of the promotion and hence missed out. Now, it isn’t alot of money, but from what I observe, most ppl ain’t even making a single cent online. Hence, that indeed served as a good opportunity for many. At least there was one other person who benefited from it, who was Alvin.
Now do I blame the skeptics? Not really. Many of those who emailed me say they refused to believe it as they have tried out many other programs and have failed to succeed in them. Hence this explains their skeptical mentality.
After being labelled politely as a skeptic by me, one of my subscribers even got angry and said he was not interested in all my bullshit strategies! Lolz! I think he did not know the definition of a ‘skeptic’. And I do pity him. As he was obviously interested in learning how to make money online as he opted in my list to learn how to do so, but just that he did not know how to.
Oh well.. From a layman’s point of view, such pay per lead campaigns frankly do look incredulous. Although it is not new, as marketers like Joel Comm, Mike Filsaime have attempted it previously with huge success, it is still rather uncommon. So the question is, why would they do that? Russell paid out over $20,000 in commissions I think. And Mike Filsaime paid out much more.
So who benefits the most ultimately? Of course the mastermind himself – Russell Brunson! In the short 1 week, he’s generated over tens of thousands of subscribers. And he’s certainly one who understands the lifetime value of a subscriber/customer. You see, the true value does not lie in the front end but in the back end profits. Hence, he’s willing to pay out $1 just to capture a lead and make a loss on the front end(known as a loss leader). Simply because he’s able to earn back his investment many times in the future!
Furthermore, the pay per lead campaign culminates in his launch of the 12 Month Internet Millionaire, an interview he did with Vince James, who made $100 million in 12 months. You can still grab it before the price rises here. Not surprisingly, that product ended as a Clickbank best seller. So just from that product alone, he prolly made back his investment. Not to mention the list is there for him to keep.
Of course, you obviously need a hefty capital before attempting such a daring move. Certainly not something many people can execute.
Alright so back to how we accomplish such a huge feat. Well, apart from promoting to our own lists, we also did some advertising on some ezines. Of course, we did not advertise the IM Myth website directly. We advertise our squeeze page first before directing others to the IM Myth site. Hence, we not only generated over 2061 subscribers but also generated US$874 in revenue, making close to a 300% return on investment. Not bad for giving away something free.
Hence, the bottomline is, always find a way to monetize your ad, even if it is just a squeeze page. You see, normally when you advertise, you tend to be afraid of making a loss on that ad. In this case, our ad did not even sell others anything as it was a merely a squeeze page giving out a free report which I wrote. However, in this case, we found a way to monetize it, which was the redirect to the IM Myth site. That ensured we not only recouped back our advertising costs but also made a cool 300% ROI. Plus we got 2061 subscribers.
True, such campaigns do not occur frequently. But you can either offer a one time offer, or just redirect to an affiliate product which does not cost much and which people might be more inclined to buy, like Michael Worthington’s Quick Cash Secrets over here.
Alright shall share more strategies in time to come. Have been busy implementing many new strategies recently and inching closer to my $100 a day!