IWillTeachYouToBeRich - Why I love being sold

Reader,

My parents used to love going to those free timeshare presentations.

The reason is simple: FREE FOOD! 

These things are hilarious. They invite people to come hear their 60-minute pitch, and whether or not you buy, you get some kind of gift — things like free buffet tickets or a free 2-night stay in a Vegas hotel.

Just think of the kind of people they attract with these gifts. (But also, think of how good they are at selling, if they can afford to lose money on 90%+ of people who come.)

The funniest thing was when they promised my parents a grandfather clock. My dad was so excited, he drove 2 hours to attend the presentation. When he left (not buying, of course), they gave him a grandfather clock...that was 14 inches tall. Hahahaha

These presentations are also funny because of how much they terrify people. I’ve literally seen friends refuse to go because “I don’t want to buy one of those timeshares.” When I said, “uh, you don’t have to buy,” they looked at me with frightened eyes. They were AFRAID of their inability to say no.

And that, my friends, is fascinating.

When you get the chance to go face-to-face with an extremely talented salesperson, you take it! What do they know about human nature? How do they build rapport? 

Instead of running away from salespeople, advertisements, and marketers, you can learn so much by running towards them and learning everything they know. (Just repeat this mantra over and over in your head: “Don’t buy a timeshare today.”)

There’s another reason I love studying marketing: I enjoy being sold on real products that are going to make my life better!

A few years ago I came across a product called "The Truth About Six Pack Abs." It has the same characteristics as a lot of e-books — long copy, bold claims — but I started reading. Eventually, I decided to buy. Guess what? The original product was around $50, but by the time I finished going through the checkout process, I had added so many upsells that the total was around $119. And I felt good about my purchase.

If your immediate reaction is “that looks scammy,” then you are missing the point of great marketing. I’m not stupid. Why did I buy something that looks like that when I’m very well-versed in marketing? 

If you’re trying to persuade someone to do something, you have to know what they want — their hopes, fears, and dreams. 

If “The Truth About Six Pack Abs” had been called “46 exercises to strengthen your core, but really your total body, because you can’t burn fat from just one area,” I probably wouldn’t have bought. They knew what I wanted and their copy reflected that.

The second takeaway: if your product can genuinely help someone, you're doing them a service by selling to them. You don't have to be obnoxious. You can sell by being honest and straightforward.

Here, let's take a look at an example of how easy it can be.

A simple tweak generates 2,080 subscribers/year
At IWT, the #1 tool we have to capture people’s attention and turn them into customers is the writing — “copywriting” — on our site. That's why we’re constantly tweaking it and testing it to make it as good as it can be.

Here’s a test we ran on our opt-in copy. We made two slightly different offers to see which would lead to more people subscribing to our email list. Can you guess which won out?

Opt-in copy #1

Opt-in copy #2

The second version got 27.6% more opt-ins. That’s an additional 40 subscribers every week. 

That’s 2,080 extra subscribers a year. If just 1 in 100 go on to purchase one of my flagship courses, this test alone would bring in an extra $40,000+ in revenue every year.

Simple. Straightforward. And we deliver on our promises. That’s marketing.

If you were in charge, what would you do to capture the attention of people passing by? What writing would you put on the storefront to get your message out there? 

Bonus points to anyone who can include some math in your assumptions and show me how much revenue it would generate.

Just hit reply and let me know. I read every response.

P.S. I hope you are enjoying this. Personally, I find it fascinating how businesses persuade us (and how we influence each other). Friday, I’ll go even deeper into this. Talk to you then.