One of the easiest, and most overlooked, ways of generating passive revenue in your business is adding a simple One-Time Offer (or OTO) to your funnel.
The OTO is a no-brainer offer placed in front of a new mailing list subscriber the moment they confirm their subscription.
I say no-brainer because the price is very low ($7-$17), and the value is very high.
A good OTO can convert at 30% or higher!
Imagine if you were able to generate 30 orders for every 100 new mailing list subscribers! Even at $7, you’re going to add thousands of dollars in passive revenue to your bottom line every year.
In addition to generating additional revenue, the OTO does several things:
#3 is perhaps the most important. Studies have shown a significant percentage of your new subscribers are more likely to purhcase something from you in the first 24 hours after signing up for your mailing list than any other time. That means, if you’re not converting them to customers in
that window, you’re probably never going to convert them.
The One-Time Offer is an integral part of the Efficient Profits system, and one of the most dependable revenue generators you can have in your business. If you don’t have an OTO in YOUR funnel yet, what are you waiting for?
How important is having an effective email subject line? It’s VERY important!
Believe it or not, over 80% of your mailing list subscribers never read past your subject line.
Because the subject line didn’t compel them to open your email and read further.
And if they’re not opening your email, they’re not seeing your offers. And if they’re not seeing your offers, they’re not buying.
Writing ineffective email subject lines is costing you money! It’s just that simple.
So… what is the most effective email subject line?
After testing many formulas, we’ve found the most efficient email subject lines lay out the primary reason they should open the email. This is done by explaining EXACTLY what they’re going to learn when they do so.
This formula becomes even more effective when you add the way they’re going to achieve this thing, as well as the time-frame they’ll achieve it in.
With that being said, here’s the Efficient Profits’ Effective Email Subject Line Formula:
“How To (main benefit) in (time-frame) with (product/service)!”
“How To Generate Another $100K In Commissions With Niche Websites!”
“How To House Train Your Dog In Seven Days With Our Perfect Pet System!”
So, next time you’re writing an e-mail, give this formula a shot. Then, pay attention to your open rates compared to your past emails. You’ll probably see an increase. And if you do, let us know in the Comments section below!
Efficiency can really be just a “buzzword” until you attach some actual meaning and definition to it. As you might guess, we’re pretty big on efficiency here at Efficient Profits! The reason is simple. We want to actually enjoy our lives and not be a slave to our business, so we’ve designed our own methodology for how to accomplish exactly that modeled after both of our own individual successes.
So what does being “efficient” really mean?
To me it’s quite simply to automate or remove anything that I can so that I am only doing what I should be doing. Let me give you an example that I’m helping a client with right now. This client has a membership site and has hundreds (actually thousands) of subscribers. That’s a GOOD thing! The problem is with a large membership and tons of subscribers comes the inevitable task of canceling memberships.
Now when you only have a couple of hundred members, that’s no big deal. But when you’re adding 400+ members a month to your membership, there’s a lot more volume to work with. For this client, it has become a task that occupies many hours each and every week. Worse yet is that the client really takes great pride in the level of customer support offered and responds to requests almost immediately – usually within 1 to 2 hours.
Lastly, the real crux of the situation is that the task is quite complex. In this particular situation there are several systems that are disjointed and so there are several manual things that must be done to keep all of the disjointed systems talking to each other properly and in unison. In fact, when I asked the client to provide a document to me of the procedures necessary to accomplish the goal, I was given a 4 page list of steps! This is the definition of insanity!
Trust me, in the beginning, we scramble to get things moving – I get that. But after you hit a certain level, you have to get out of the “work harder” mindset and transition into the “work smarter” mindset. If you don’t, you’re business will simply stop growing and maybe even begin to decline.
Well we’re involved in a two step solution for this particular problem.
#1 – We need to adopt new systems. Rather than continuing to affix more duct tape to a hodgepodge solution, it’s time to take a step back and implant a much better underlying system – InfusionSoft. This will allow the client to integrate client data, customer data and marketing data – currently this information is in three separate systems and there is no way to integrate the three automatically.
With InfusionSoft, we can integrate the customer data, with the email list and also the shopping cart as well. This makes it seamless because everything is in one place. You can look at a customer and pull up all of their history and interactions with you in one place. You can also see their total purchases (lifetime) with you as well as all of the individual order detail as well. Lastly, you can use intelligent tagging options in InfusionSoft to flag the interests, tendencies and behaviors of your clients and prospects. This is super powerful and allows for segmenting your one big list into a bunch of super efficient and targeted micro lists.
But in this particular situation it will simply eliminate the 4 pages of steps the client has to currently go through down to about 2 or 3 steps. That’s the first Phase.
#2 – In Phase II, we can hire a programmer to fully automate the entire process via InfusionSoft’s robust API so that inside the membership there can be an intelligent “cancel” button that will fire off automation inside of InfusionSoft to automatically cancel the account with no manual user intervention necessary whatsoever! Now THAT is efficiency!
Efficiency is a mindset. You have to “think” in a manner that is conducive to creating efficient solutions. You also have to use the right tools that can help you create those efficiencies in your business. I can tell you that if you’re business is making between $60k a year and $5M a year (or maybe even as high as $10M depending upon the type of business) you should seriously be considering using InfusionSoft. The amount of money it can save you in automated tasks as well as create for you via new income streams is simply hard to beat.
My recommendation to you is that you look at what you do over and over again each and every week. Describe it. Put it into a “paper” process and then start to ask yourself the question, “How can I automate this or, at least, outsource it to someone else to do for me?”. If you need any help, just reach out to us here on the site and let’s have a chat. I’m happy to help.