Marketing funnels seem to be all the rage these days. We’re all paying attention to people like Russell Brunson, Frank Kern and Ryan Deiss to see what “The Next Breakthrough” in marketing will be.
It turns out, it is all old hat really, and not only suitable for online marketing either.
Let’s take Ryan Deiss’ Napkin Project formula. (If you are unfamiliar with this, I strongly recommend you check it out here: http://www.digitalmarketer.com/napkin-project/
In short, the approach is as follows:
- Take you core offer and splinter off a small part of it, which you can sell for a very low price. (The gateway drug that should break even on marketing cost.)
- Then offer the Core Product, which makes you money.
- Add an up sell.
- Add the Profit Maximiser. Essentially something not advertised, but with high margin.
There is in reality a lot more to this, and there is a lot of detail you want to go into, but this is not an article about that.
What I want to show you here is a genius (but not new) version of exactly that, but done off-line.
I went into our local new agent with the girls a couple of weekends ago, to get them each a magazine. As we walked in, I noticed a vinyl copy of Miles David’ Kind of Blue album with a magazine, selling for £4.99 (It is £19.99 on Amazon).
I was more than happy to snap that up. I’ve got it on CD and can listen to it on Sonos, but nothing beats sitting down with a nice Single Malt and listening to a record in your favourite chair, uninterrupted.
Once I got home and started going through it, I realised I got more than a record. I got the album, but also received a magazine filled with details about the recording sessions and musicians on this seminal album. (I never knew that this pivotal album was recorded in two sessions, over 2 days!)
I got a poster of a black and white photo of the famous Cotton Club (I am trying to work out where I can have it framed to put it up in the house, I feel like I’m 14 again!)
And I also received a masterclass in marketing, something which is missed by 99.9% of the people who will buy this, but I am happy to show it to you here.
Refer back to Ryan Deiss’ Napkin Formula mentioned above when we look at this:
The £4.99 was the trip-wire. It is a great offer and on it’s own would make me happy, but the real power of this is that it is packaged as “incomplete”. Not because there are tracks missing off the record, but because the seller has created a “bundle” of 10 albums in a series. All these albums are great on their own, but presenting them as a bundle, makes me want the other 9 far more than if they simply sold me the one record.
So, this then leads to a £14.99/issue subscription in order to get the other 9 records. Now this is in the fine print, but this is not a monthly subscription, but fortnightly. These guys are getting £30/m out of me for the next 5 months. I doubt they would have sold it to me if they started by presenting that pricing.
They did not stop there though. These guys know what they are doing!
Together with my record and magazine, I received a LOT of marketing material, trying to get me to sign up for the premium version, only £1 extra. (That’s £1/issue, so an extra £10 in their pocket.)
For my £1, I get some gifts thrown in. Binder for my magazines, storage boxes for the records, T-shirt, cleaning kit etc… The genius though is that I don’t get them all at once. Oh no! They come with issue 3, 5, 7, 10. That way, there is no way I am unsubscribing, because I want my gifts!
More importantly to notice is that these guys are not lazy either.
Click on the image below and you will see all the marketing they did AFTER I bought the first issue. This is with the issue itself. There are several pieces here trying to sell me the premium version, each selling it on a different item.
Funnels Are Old Hat – Images
They are doing everything to get the right hook so I will bite. (It was the storage boxes that got me in the end.)
Then there is the masterstroke.
The Profit Maximiser:
How about a new record player for only £199? Yep, they just sold me a record, so they must assume I have a record player. Nope, don’t assume, ever! I do have one, and am not buying, but I did think about it. They are very smart here, because they make it all so easy. Just because I might already have a record player is no reason not to offer to sell me one. There is a percentage of people who will buy this, and it will increase their profit to the max.
I am looking forward to the next issue not just for the record, but also to see what genius marketing I can learn from.
How can you do this?
Can you bundle some products?
What can you offer as an up sell?
Think a bit about this, I am sure you will find a way to model this.
p.s. Their website is shit! Unusable on mobile and not great on desktop either. I bet they could improve conversion even more by sorting that out.
Author: Pieter K de Villiers
Pieter K de Villiers is slightly obsessed with systems. The systems and process automation he builds for small businesses are transformative, to say the least. Pieter is a Co-Founder of Barefoot Digital and the Amazon best-selling author of “Barefoot Business: 3 key systems to attract more leads, win more sales and delight more customers without your business killing you”.