Revenues 2004 - $3,000,000
ETR Growth
2005 - $5,000,000 2006 - $8,000,000 2007 - $36,000,000 (projected) Mind Set
3 Key Factors
Direct Response Fundamentals Multi-Channel marketing What is the difference between a direct response marketer and an Internet marketer? If you are a true Internet Marketer the answer should be: NOTHING!
One Question that Will Make or Break your Business Trick Question
If you are a bad Internet Marketer the answer is: EVERYTHING!
Mary Ellen Tribby - CEO, Publisher - Early to Rise Early to Rise started in Dec, 2000
Bio
A growing, sustainable business
Success vs. Failure
vs. A hamster on a wheel it is a form of marketing designed to solicit an immediate response which is specific and quantifiable
What is direct response marketing?
It is not branding Using Mary Ellen Tribby's Strategies to Run Online Business as a BUSINESS... Not a Hamster on a Wheel
Opening wallet vs. memory DRM vs. Branding
Take Action
Infomercial vs. commercial Highly targeted search vs. broad reach Explicit interest or intent vs. no conscious intent Database targeted communication to specific questions Interactive tow way communication Response - a way for the customer to respond to the offer
5 Key DRM Components
Exchange - the order can be made at any time Measurable response - calculate cost of producing and resulting income
Direct Marketing Association Solutions for direct marketers Measures web traffic blog for Information Marketers Michael Masterson - Ready, Fire, Aim
Michael Masterson
Alexa
Alex Mandossian
Sending a marketing campaign to a small group of prospects before proceeding on a large scale basis
1. Testing
SRDS
Reading marketing results to acquire actionable data with the intention of rolling out or re-mailing
2. Analyzing
Recommended Resources
Expanding a marketing campaign to a larger group of prospects after the completion of a successful test
3. Rolling (Roll-out)
Early to Rise.com
4. USP The 10 Most Important DRM Terms that Every Marketer should Master
5. ROI
Unique Selling Proposition Return on Investment (Revenue/Cost) A new customer/reader that has not paid any money to receive your product
6. Lead Generation
The percentage of people who respond to your offer
7. Response Rate Copy
Idea (light bulb)
Channels
8. Offer
Direct Response E-mail Endorsed/Dedicated (long copy)
Slice & Dice
What your prospect gets when they respond to your ad and what they have to do for it An offer that is made to a first time customer with payment
9. Acquisition
Banners ads (your site and competitors)
An immediate offer to your customer's purchase
10. Upsell
Pay-per-click (PPC) Sponsorships (text ads) Inbound
What are DRM Channels?
Outbound
The manner/form in which you communicate or ask your customers to purchase
Use the phone Dedicated/Endorsed lists
Teleconferences
Sponsorships
Your physical products Your newsletters
Part 1 - Channel Marketing
Insert Everything!
JV/Swaps
Your competitors products
Squeeze Page
Direct E-mail Marketing
Direct MAIL
Don't Be Afraid of the 'M' Word
With the right lists and great copy
Part 2 - Get Started
Helps with organic search Helps with paid search A
B
Campaign Cost Endorsed $5,000 Banners $5,000 PPC $10,000 SS $500 Inbound $1,000 Outbound $1,000 Teleconf $5,000 Inserts $1,000 Direct Mail $10,000 Total $38,500
PPC Co-Reg
Changing the Channel Notes
Surefire Strategies for Business Success
It's all about ROI 1 2 3 4 5 6 7 8 9 10 11 12 13
Polls
Mary Ellen Tribby
List is most important thing
Will get the largest amount of paid orders
In order to read promotion, they have to give you their e-mail
Banners
Forums Blogs Social Media
Well, What are those Channels?
Social networks Social bookmarks
C D E It is all about ROI Revenue Orders ROI $10,000 100 200% $7,500 75 150% $10,000 100 100% $5,000 50 1000% $2,000 20 200% $500 5 50% $5,000 50 100% $1,500 15 150% $8,000 80 80% $49,500 495 128.57%
Social news websites Search Engine Marketing Teleconferences Television Radio Still More...
Direct space advertising Direct mail advertising Telesales JV/Affiliate marketing Event marketing Public relations
At the End of the Day... Changing the Channel: Sure Fire Strategies for Business Success - By Michael Masterson & Mary Ellen Tribby, October 2008
What is Multi-channel marketing?
Simply offering customers more than one way to buy Customers who buy from two channels vs. one are between 20-60% more viable
The Book:
Customers who buy from three channels vs. one channel are 60% to 125% more valuable Plus multi-channel customers buy a wider range of products As a marketer, you reach your customer in the way she/he wants to be reached. That way you are solving your customer's problem.
Why Multi-Channel Marketing?
If that isn't Enough... Up: $101-500 Middle: $39-100
Developing the Backend Triangle
Get the attention of the targeted prospect from the VERY start. Create a need for the product, show what it looks like, and demonstrate how to use it
Bottom: Free E-mail Calls
Depends on the campaign
Be proactive, answer questions as a good sales person does, reassure the buyer
Sequencing
Direct Mail calc. from Harvard Business School online
Part 3 - The Nitty Gritty
Practical tips for Creating Effective DRM Messages in Every Channel
Need to understand lifetime value of a customer
Newsletter
ongoing is unique A good deal isn't 50/50, it's when everyone's happy
Provide critical information about product use Inspire confidence, minimize risk, and establish that the company is reputable Make the sale by explaining how to buy, how to order, where to call and how to pay for the purchase
1st e-mail is unique 6 evergreen e-mails explaining Early to rise
Plus you are solving your own problem: Converting this person to a paying customer Multi-channel marketing is good for customer, and it's good for your business
Collect as much data as possible JV
List Segmentation
E-mail address Phone number Street address
3E-Trap
'Everything, to everyone, everywhere' Low Hanging Fruit
Where to Start
Easy Cheap Effective 1. You need to ask basic questions regarding your customers' behavior 2. Consistency matters
Five Musts of Multi-Channel Marketing
3. Repetition 4. Always use e-mail... but not exclusively 5. Measure and track all results