In this episode of the eCommerce Lifestyle podcast, Anton shares one of five New Money Machines to use in your eCommerce store.
In this five episode series, you'll learn the new techniques to earning MORE profits before, during, and even *after* the sale.
Listen in to hear his strategy for the first machine: Lead Generation Machines.
Hey, good morning everybody. Anton Kraly here from eCommercelifestyle.com, and welcome to another episode of the podcast. So this is a follow up to yesterday's episode. I did a quick one yesterday just sharing a little bit of what happened in Prague for our 2019 Drop Ship Lifestyle Retreat. If you didn't hear that one yet, just go back and listen to that. Also for everybody that left a review after hearing that, I really appreciate it. I don't know what happened but I posted that podcast and then I saw we got a couple of new reviews on Trustpilot, a couple of five-star reviews there and a few on the podcast as well. So thank you everybody for those reviews. Really appreciate them, means a lot to me. Shows you guys are listening, paying attention and getting value. So appreciate you and thank you if you've left one all ready.
But in that episode yesterday, I said over the next five days or so, I'm going to release a bit of what I talked about at the retreat, and I'm going to break it up into one topic each day. So where these are coming from is a presentation I did the second day of the retreat and that presentation was called New Money Machines, and the subtitle was how to create additional profits before, during and after the sale. So I covered five of them. Again, I'll talk about one of them today, one tomorrow and so on and so on.
I guess first of all, we should talk about what a money machine is. Basically the way that I think about this is anything that you can put people into through a process and people go into the process and on the end of it, if you're looking at this horizontally, people go in, they go through a process, and at the end more money comes out. So the people are the inputs and money is the output and machines can be tuned over time for maximum profit.
Now some cool things that money machines can do and the reason you should be paying attention and implementing these. First of all, is they can turn visitors into leads, they can turn leads into customers, they can increase your AOV, which is your average order value. They can increase your CLV, which is your customer lifetime value. They can increase your net profit and they can pretty much run on autopilot. So once you have them set up, it's really just about optimizing, but once you set them up, they're there. They're always running in the background.
Now the core money machine that everybody that follows any of my programs is using would be simply having customers go to your Shopify store, adding a product to their cart and buying. So if you want to just pick something that everybody knows, again, that's what I would call the core money machine. That is your website that has products for sale. The people are going to your website, they buying, money's coming out the back end. By the way, if you're not doing that yet and you want to learn more about our whole process for how we build the main money machine, you can just go to dropshipwebinar.com, D-R-O-P-S-H-I-Pwebinar.com, and you'll get a free training there for me, which is about three hours long that I show you how we build those stores. Again, dropshipwebinar.com. So that's the main one, again, that most people are probably all ready familiar with.
And the new ones that I spoke about at the retreat, and the ones that I'll be walking you through over this series of podcasts. First is what I call a lead generation machine. Then we have cross-sell machines. The third is upsell machines, the fourth is post-purchase machines, and the fifth is the remarketing machine. Now where these all fall into place, if you could just picture this as a diagram. In the center we have your Shopify store. That's like the heart of all this. Your store. Now, lead generation machines come before the store. Cross-sell machines happen on the store, so they're in line with your store. After people leave your store, we have the upsell machine, then we have the post-purchase machine. And always running in the background, after people visit your store, we have our remarketing machines. So again if you're picturing this as a diagram, we're just going to start all the way at the left with which comes first, and that is the lead generation machines. So that's what we'll be talking about in this podcast episode.
With lead generation machines, we're sending people somewhere that we can collect their emails and maybe names, maybe phone numbers, but definitely emails and then we're turning those leads into money. So lead generation machines are used to turn cold and warm audiences in to buyers. Cold meaning people that don't know us yet at all, they don't know our website yet at all. And warm audiences, meaning they have engaged with our stuff before but they've never bought.
Now you might be thinking like, "Okay Anton, I all ready do lead generation because there are ways that I all ready talk about this." Some of the ways that you might all ready be gathering leads would be from abandoned carts. So people fill out step one of the order form, never complete it. That's one way you're getting leads. One way might be an opt in somewhere in your sidebar or your footer, where you're incentivizing reasons that people give you their email address. Maybe you're saying, "Enter your email address for a chance to win $100 gift card." Or monthly giveaways, or whatever it is.
Another way you might all ready be capturing leads is with exit-intent overlays. So people go to leave the website and you're saying, "Wait, before you leave enter your email for a special promotion." You also might be doing something like a spin to win, like the Reelio type app to game if I opt in. So again, people are typically all ready familiar with lead generation and doing it these ways.
But the new way, the New Money Machine when it comes to lead generation that I want to share with you is how you should be advertising on Facebook to cold and warm audiences, and when you're doing blog banner ads.
Now before I get into this, again I'm going to say this might sound like a foreign language to some people, especially if you don't know how we find blogs to advertise on, how we do media buying, how we reach out to these blogs for relationships, how we get free trials to advertise there. So if you are new, you don't know how we do that, you should definitely learn. So just go to that website, dropshipwebinar.com, and you can get my free training there and you'll see how we do this. And also I'll tell you how you can get enrolled in our program that was voted best e-commerce course by Shopify if you want to take this seriously.
But the way that we do this in the new way, is let's just say you do find a blog that you want to advertise on. And let's say you're selling standup paddle boards. Now let's say you want to advertise on surfer.com because if people are interested in surfing, maybe they'd be interested in buying a paddle board at some point in time. Traditionally what we do is take out ads on the website like surfer.com, where we'll show an image of our product and the copy, the text will say something like, "Exclusive offer for surfers.com readers. Save 10% on all orders at Anton's paddleboards.com with coupon code surfer com." So something like that. A direct response type ad saying, "Hey, if you want to buy these products, we have them for sale. Because you're a reader of surfer.com, you get 10% off, use this coupon code." Now that works great, but the thing about that is you're only going to get the clicks from the people that are most likely to buy.
Now you might be thinking, "Well, that's a good thing. I want people that are ready to buy." And while that's true... And when it comes to cost per click and cost per lead ads, I do recommend you pay for the people that are ready to buy. When it comes to these blog banner ads where you're paying for impressions, where you're paying just to be on a site for a month or a quarter or six months or a year, you want to gobble up as much of that traffic as you can get.
So the new lead generation machine, what you should do when you take out these blog banner ads is having an ad that instead of saying something like, "Save 10% on all orders," you should say something like, "Free book, The History of Standup Paddle Boarding. Get your copy." And when people click that, they're going to be taken to your website, your Shopify store, to a page where they can enter their name and their email address to get a copy of that free thing that you just offered.
Now, why would we do this? Why would we say, "Hey, here's something for free." Instead of, "Hey, here's a coupon code if you're ready to shop." It's because when we switch to this model, when we switch this lead generation machine, we're playing the long game and we're going to get a lot more site visitors. We're going to get a lot more leads that we can market to throughout the year and this is extremely, extremely important. Again, the amount of people that are reading surfer.com, that right now at this moment in time would be interested in a book about the history of standup paddle boarding versus the exact amount of people that would be looking for a coupon code to buy a paddle board, it's night and day. So you're going to get a lot more leads and again, you're going to market to those people over time.
So where should you use this lead generation machine? Where should you use this new call to action? Well, like I mentioned, when you're doing media buying on blog banner ads, if you're sponsoring any communities like Facebook groups or forums, when you're running Facebook ads to cold and warm audiences, if you're doing any influencer marketing, that is where you want to be showing this off. That is where you want to have your new lead generation machine linked from.
Now very important. When you do this, people are going there, they're requesting this free book or this free report. Don't just give it to them and be done with it. You'll never make money that way. So what you want to do is after they request it, put them into Klaviyo, which is what we use and recommend as our Shopify email autoresponder. And you're going to create a flow, which is basically an email broadcast to deliver the thing they just requested. So to deliver the ebook and then to be following up regularly with offers. So three to four emails in a sequence saying, "Hey, here's your free book. Hey, here's a coupon code because you're a new subscriber. Hey, here's what we're all about. If you want to purchase from us or you know anybody interested in our products, share this coupon code with them." So just building a relationship, giving them value, and then making the offer once they're allied.
Now that is necessary. But even after that, make sure you're sending out regular emails, at least one a week. Ideally two emails a week in a campaign. These are just like broadcast emails that go to your whole email list, but make sure you're always doing this throughout the year either making offers, giving value, just letting people know that you exist, that you're in business and that you're there should they ever want to buy a paddle board. So again, that's the long game when it comes to lead generation machines.
Now few keys to making this work because there's a lot of nuances that you have to get right or else you might just be getting leads and then never make money out of them. Or you might switch your offer from that save 10% coupon code to here's the free thing, and nobody ever might give you their email address. So a few things to think through before you do this to make sure you can make it work.
The first is what can you create that will provide value to your audience. Seriously like, what do your people want? Or again, if you are advertising on surfer.com, what do those people want that you can actually create? Because if you put the wrong lead generation tool in front of them, they're never going to click on in any way. So look at articles that they're reading, look at videos that they're watching, make sure you create something that they're actually interested in or else this won't work.
Another thing that's super important is when you create your ebook or your free report, whatever it is that you're giving people to download, think about how many relevant offers you can include in it. So you're basically sending them a PDF, and inside of PDFs you could have links. So you want to be including coupon codes, linking to best sellers, linking to blogs on your website, but making sure they're not just downloading it, skimming through it, and then that's it. You want to give them things to click, incentivize them to buy throughout the thing.
Another thing, extremely important, I briefly mentioned all ready, think about how many relevant offers you can make throughout the year. So as you're building this email list and you have 100 subscribers, then 500, then 1,000, then 10,000, then 30,000, then 50,000 make sure they're not just sitting there. Have a promotional calendar. Be emailing your list throughout the year. Again, once or twice a week, making offers, building value so that this list isn't just sitting in there as dead weight, so that it's actually making you money.
Another thing to think about is where can you find your audience and how can you get in front of them? Like I mentioned, if surfer.com is a good place for you to advertise, find 10 more places just like that, maybe bigger, maybe smaller. It doesn't matter. Find out where your audience is and find out how you can advertise there to give your free thing to these people.
Another thing to keep in mind once this is up and running is that if you do this correctly, you should earn two to $5 per lead each month. So if you have an email list of 10,000 people, you're sending out one to two emails a week, that should get you between 20,000 and $50,000 of revenue every single month just from your emails. And what's cool is Klaviyo actually tracks that. So when you're sending emails, it will attribute money, meaning sales to the emails you're sending. Again, two to $5 you should be earning per lead each month. Make sure you are sending emails that make sense or else you're not going to do that. And you know that's how you'll know you're doing this wrong.
In closing, right with this first New Money Machine, let me just give you some of the costs and time required to set this up. So costs required when you make this ebook, I recommend you create it yourself or have somebody on your team write it up as a text document, but you want it to look professional. So once the text is done, outsource the ebook design so it looks like a real book, so it looks pretty, so it has nice images and links and graphics. That should cost you between like 20 to $50 to outsource. You could do it on Fiverr as a premium gig. You could do it on Upwork, but 20 to 50 bucks for that is more than enough.
As far as building the landing page where people are going to enter their name and their email address. If you want to use a little bit of custom code, you could just do this on a default Shopify page. If you want to use a Shopify landing page builder, PageFly, they have a free version you can use. It's not the best but it's free, so if you're looking to start for cheap, you could that.
As far as your email autoresponder for how you're automatically sending these these email flows and then doing the campaigns over time. Again, we use and recommend Klaviyo. They're free for your first 500 contacts. After that, it starts to charge you. And time required to do this all just so you have a baseline here and don't go overboard or cut it short. It should take you about 10 to 20 hours to create the book. It should take you about one to two hours to create the lead generation page, and then it should take you about five to 10 hours to create the email flow in Klaviyo, so that people are getting the thing. So they're getting emails about it, so they're getting excited and so they're getting ready to buy from you. So on the low end, maybe this takes you 15 hours, on the high end, maybe a little bit over 30 hours, and maybe 50 bucks on the high end when you're first getting started.
So extremely affordable, extremely worth it, and a big thing you should switch to if you're looking to play the long game, maximize the value of your business. If you want to sell it, maximize the amount of money you're making every year.
So that guys is the New Money Machine for lead generation. Hope you got value from this episode. If you did, please do leave a review. I really appreciate it. If you think it's worth five stars, leave five stars. Let me know what your biggest takeaway was. I'll share it on a podcast and it'll make me keep doing these things.
With that being said, I'll be back tomorrow to share our second money machine moving outside of lead generation. And I'm actually going right now, I'm still in... Well, now I'm in Florence, so I'm going to pick up a car and we're driving up through Chianti and going to have some good wine, have a bunch of great pasta and enjoy the day. But again, hope you got value, appreciate you. And if you're new here, go to dropshipwebinar.com to learn more about our program, what it is we do, and how you could build a highly profitable semi-automated store. And then hang out in cool places like this and enjoy all the wines. So thanks everybody. Appreciate you and I'll talk to you tomorrow. Bye.
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