Welcome to Marketing Mondays.
User behavior is constantly changing. New tools, software, produces different experiences. But human nature has never changed for 1000s of years.
Here's the scoop this week.
- 7-step formula for conversion – That created the success of one of the longest-running sales letters (35 years) in history.
- Don't use .99 for annual plans – A lesson in pricing strategy.
- Save money on marketing software – TidyCal is a must-get.
🧠 7-step formula for conversions
What's a sales letter?
When you create a landing page or sales page, you're essentially creating a sales letter.
As someone who grew up in the 90s, I didn't quite understand why it was called sales letters. Turns out – sales letters because marketers used to send physical mail (letters) to potential customers.
Today, our sales letters live on websites. (You are probably familiar with VSLs, short for video sales letters too.)
The 7-step formula.
Bob Stone was a copywriter. He created an ad for a financial newsletter – The Kiplinger that went unbeaten for 35 years!
Here's his 7-step formula.
Note: I modified it to BERPCAT, so it's easier to remember.
- Take Action
The formula can be used on articles, landing pages, emails, ads – anywhere.
I'll try selling the Underdog Tee as an example.
1. Start with the strongest benefit.
People want benefits. So give it to them!
The Underdog Tee isn't just a tee. It's a reminder. A reminder that an underdog (you!) works the hardest. You're someone who does whatever it takes.
2. Expand on the benefit.
What's the benefit going to do for the prospect? Help them see an impact a day, a week, or a year from now.
The moment you put on the Underdog Tee, you'll feel its soft, comfortable fit. That's because it's made from 100% organic cotton. Plus we've preshrunk it – so it does not suddenly get smaller, after 1 or many washes.
3. What will the prospect will receive?
Tell what the prospect will receive once they take action. Why do they need to take action today? Include a risk reversal.
You'll receive the Underdog Tee in 3 days. But take action fast, because the Underdog Tee is limited edition and there's less than 60 units left.
4. Prove the value of your product.
People look to others to make decisions. It's safer this way. Prove the value with testimonials, past success stories, etc.
Look at other people sporting the Underdog Tee. We call them underdogs. They are from companies like Alterseat, Foundingbird, and TIME dotCOM.
5. Tell the cost of inaction.
People will be people. They won't make a decision – unless there's a strong reason for them to. That's why pricing scarcity tactics work, even if we hate it.
The Underdog Tee is selling fast, and by the rate it's going out - it will probably be sold out by the mid of July.
6. Create anticipation.
To move the customer to the close, state the biggest benefits they'll receive again. This is where you sum up the value of your product.
Go be a true underdog. It's hard to feel lazy and only do the minimum, when the front of your shirt says – underdog.
7. Ask them to take action.
OK, what should the prospect do now to claim your offer? Click on a button? Tell them what to do.
So....how did I do?
Probably shouldn't use a tee an example. But I hope you get the idea of the framework!
⭕️ New at the Circle: Swipe files!
I was looking for marketing inspirations last week and ended up browsing some swipe file sites.
Then an idea strucked me. Why not store my own research and make them publicly available?
Check out the swipe file category in DailyCMO's community circle
Feel free to add your swipe files and let's build a useful, huge resource for ourselves.
Also, here's a secret... most great marketers I know have their own swipe file collection of sorts.
💲Don't use .99 for annual plans.
I've noticed this pricing strategy for awhile. Then I read a post that confirms that I'm not the only one.
Take a look at Prime's pricing:
Amazon Prime charges $14.99 per month. That is to make it feel cheaper, than $15. (Althought it's really just 1 cent.)
But for annual pricing, they drop .99 and priced it $139.
The reason for this is to make it less intimidating for users. The more numbers you have on a price – brings a perception that it's more expensive.
I recommend reading Imagine Reading this Book by Nick Kolenda, to understand the pyschology behind.
🏷️ Save on marketing tools
AppSumo (the biggest lifetime deals platform) is currently running a sale – offering softwares and digital products that will help you run your business.
My favourite tools:
- TidyCal - A copy of Calendly, but you only pay once.
- Bigvu - A teleprompter, right on your phone.
- Sendfox - Super simple email marketing platform. Does what it does.
- Hey Oliver - Used this as a livechat and personalized lead generation tool.
Marketing tools are...tools. They don't turn you into good marketers. Smart marketers use tools to save time and do more with less.
Also, lifetime deals are great. But it's usually not sustainable for software makers. Check what you'll get with the deal – and gauge if the software company is responsive and will be here to last, before buying.