Today, it’s a two-for-one deal, meaning when you work on your writing assignment you will also be working on your list building assignment. (I love when that happens, don’t you?)
You are going to create a one-time offer (OTO) for people will see before they get to your free gift (whatever you have decided it to be). An OTO as the name implies, is a marketing method that encourages customers to IMMEDIATELY buy a certain package as it’s an offer that will not be offered again. They will see the offer only one time. This pushes the scarcity button, making it more likely that the viewer will buy.
Why would you immediately try to sell something to a new subscriber? Isn’t that rude?
The fact of the matter is no-one wants to be on a list. Who really needs all that email?
The reason why they opt-in isn’t about the freebie you offer, per se. (Even though we all like free stuff.) People opt-in because they are in pain (that is, they have a problem that is really bugging them) and they are looking for an solution to that pain. Although a freebie is nice, people know it’s not the complete answer. (It’s the old, you get what you pay for, right?) So offering them a paid solution to their problem right away at a no-brainer price makes it easy for them to say yes and immediately become a customer! (And remember a customer is always better than just a subscriber!)
The bottom line is you shorten your sales cycle and they get an answer to a solution at a great price.
So how does the OTO work?
Essentially you are going to create a web page that new subscribers BEFORE your download/thank you for subscribing page. That page will SELL a product you have already that relates to why the subscriber opted-in in the first place.
You do not want it to be a product that is valued at a high price. What you want is one that is worth anywhere between $50 and $100 when you sell it normally. You will reduce the price for this one time offer to $5 to $49, depending on the value and how much you want to convert. (For reference, my OTO is normally $67 and I sell it for $20 on that special page. It gets an average 48% conversion rate, meaning 48% of the people who subscribe to my list buy my OTO.)
What if you don’t have a product in the appropriate price range?
You have a few options:
1) Create from scratch.
2) Repurpose what you have. Take a piece from an existing product and sell that. You could also pull together some articles, blog posts, etc on a certain theme and add some additional content (a checklist. template or other handy item)
3) Use PLR. “Private Label Rights” is a publishing term letting you know that the content it applies to can not only be completely re-written by you (or your Virtual Assistant… or your ghostwriter…) but should be! It’s different from Resell rights content pieces in that you can not only put your own
name on it, but alter it and re-purpose its material any way you choose. However, just like Resell rights content, it will come with a license detailing any exceptions to this rule, so make sure you always read that license (preferably before purchase).
Personally, I love PLR for both creating e-courses, freebies and inexpensive items. They are easy to customize too!