Can a 10-year-old teach you anything about Internet marketing? Until recently, I didn't think so. But let me tell you what happened...
My 10-year-old son Ben and his sisters wanted to attend a musical theater class. The total price tag? $1,590!
I said they could go, but they'd need to earn tuition money.
Well, kids are published authors of a children's book called 15 Reasons I Love My Dad. It retails for $14.95. Their proposal - go door to door and sell their book until they raised $1,590.
They decided to give people an incentive to buy book now by running a 'neighborhood special' and offering it for only $10.00 instead of $14.95. In doing so, they created a reason for people to take action.
Ben wrote first spiel:
"Hi, I'm Ben and I'm author of 15 Reasons I Love My Dad, a fill-in-the-blank book that lets children show their dad how much they love him. I'm running a neighborhood special today. You can get book for only $10 instead of $14.95. Would you like to buy one?"
Ben journeyed out into world of door to door sales…and sold five books to first 13 people he talked to. His sales conversion rate? 38%!
Ben wasn't too happy with this. Afterall, eight people didn't buy his book. So, he sat down with his partners to make some changes.
The kids rewrote spiel. They added a reason why by telling their prospect they were raising money to attend a musical theater camp and they started handing book to person as they talked.
The combination of reason why and putting book in hand of prospect increased their conversion rate. The kids talked to eight people and sold four books. Their conversion rate? An impressive 50%.
But they still weren't satisfied. They wanted more people to buy their book. I tried explaining to them how in Internet marketing world, I'm happy with a one to two percent conversion rate when I first start out. They looked at me like I was crazy...The thought of knocking on 100 doors and only selling two books did not appeal to them at all!