I’ve been profiling the new deal and promotion of millionaire author Matt Back and recommending you give $1 to Habitats For Humanity while receiving access to all the materials of Matt’s $5500.00 course on Internet Lead Generation and Marketing.
Naturally, the question comes up.. Is this too good to be true?Â Why would someone give away a course that was selling well?
Has Matt really lost his mind?
The offer page here has a 57 second video that explains Matt’s motivation. But is that all?
I think anyone can guess that a 30 year old entrepreneur likely has plans beyond this. Read his page, and you will see that he still has a monthly newsletter and other products.Â In fact, he throws in a monthly complimentary subscription, knowing that most people who get it will want to continue to receive the cutting edge marketing and promotion strategies he shares.
Successful authors know that any income from the first book or information product that you buy is only a small part of running a successful business based on your book. We know that people like free samples and pack as much powerful information as we can into those samples.. knowing that it’s an powerful introduction to who they are and what they do.
What about you?
Do you have a business model where know the real lifetime value of each new reader?
Calculating the average life time value of readers using this simple equation. Take the total sales from a group of readers, with your best estimate for the time they will keep purchasing if you take good care of them. Then divide that number by the number of books sold (or readers added to a subscription list).
When you know the lifetime value, you can do some very interesting promotions. You can likely afford to pay more than your competition for advertising, you can add bonuses with real value and increase customer service.. knowing that when you take better care of new readers, they will be even more likely to stick around and buy again.
Best of all, no matter how obvious this common sense advice sounds, MOST authors and businesses don’t know their lifetime value numbers. They are left to guess on what they should spend, get scared about marketing costs, andÂ cut corners on customer service and become easy to beat.
I’ve watched Matt Bacak’s customer service over the years. I have seen him buyÂ $50 steak dinners for 50 strangers at a conference (Hs sales at that conference were through the roof). I’ve been to his office and seen the elaborate fulfillment and customer service systems he’s set up. Last month, I joined 132 of Matt’s happy client for a bonus refreshers course. Sitting at dinner with them (Matt’s treat of course) I heard story after story of their successes.
I’d imagine that there are nay sayers who think that all marketers are trying to pull something, but I’d rather look at successful models and find role models that can help you build your own information empire around your book. Whenever I watch Matt use the same principles that I teach every day, I learn something new because he’s a master of implementing simple marketing strategies that can grow your business rapidly.
So please, go take a look at Matt’s promotion. Spend a buck and see all the details behind the curtain. If you decide you don’t totally love the newsletter, I can guarantee you that you can drop it and never spend another dime.
My bet is that you will see at least several ideas that will turn into profits.
My guess is that you will be like me.
What do you think? Take a look at the promoiton now and post a comment.