In part 1 we started looking at a recent sales funnel for crypto. It started with a 5 email sequence to a private list (ie. it was not “public” so to speak).
Any competent marketer who has a list will have segmented it by interest, which means they’re dealing with a “hot” list. Eugene Schwartz might call that an aware audience, but a properly segmented list is really an audience with a strong desire to know more about a particular topic (ie. they may be anywhere on his scale of unaware to most aware).
The first 5 emails went through a process of taking the reader on a journey from “did you know about this?” to “hopefully by now, you’ll want to know a lot more about this” and ended up sending them to an affiliate offer for an expensive newsletter membership on crypto ($2,500 a year – after a 50% “action taker” discount).
With this, a price anchor had been set, and as the email sequence promised, we’d be under no illusion that people could make 6 or 7 figures from this information.
Then there was a 6 day gap. Nothing arrived. No updates, no “Time’s running out…” or “Lose this and you’ll never forgive yourself.”.
After the week of silence, the sequence started up again with a new message: “The first sequence has resulted in a bulging post bag of requests to know more about crypto.” (whether this is true or not is irrelevant but also a matter of ethics).
4 more emails followed, spaced, like the first sequence, a day apart. Each day the amount of money being made by people “in the know” is increasing.
We’d been anchored right from the start on price, and now that anchor is growing and being driven further into the seabed with higher and higher figures.
During these final emails we discover the vendor has developed his own course as a result of the feedback. And guess what, the cost of this course is not $4997 or $1997 or $197, it’s just… $97 (if you’ve ever wondered about the 7 on the end of any price tag, it’s just code for “Internet marketer at work here – caveat emptor” – my prediction is that in a few years, the 7 on the end of internet marketing products will disappear – it’s already strongly associated with dodgy products and the “make money” market much hated by Google and Facebook).
So is this funnel any good? Who knows. Does it work? Who knows. Is it ethical? The same as any other “financial product” (I doubt this would last a second if advertised by a major financial organisation before being taken down by various authorities).
So why do people push products this way? Find out in part 3 in the final part of this mini series on funnels.
PS. This week Google informed me they had suspended a post of mine from a few years ago on one of my Google My Business pages. It was a post from my Copywriting Rules series. It concerned Wealth and how that was one of the levers used by copywriters. There was nothing for sale. No promises. No outrageous headline or claim. It’s another reminder that the internet police are getting tougher, and they’ll remove anything if even one word is deemed to break their terms of service (my “crime” was using the word Wealth).
I've spent my working life starting and running a whole variety of businesses, from my first QPL Express Couriers where I travelled over 100,000 miles every year delivering packages on a motorcycle (along with a whole bunch of colleagues) to Accountz.com which made a major in-road in the UK, to ProofMEDIA my current business that focuses on Copywriting and the International Copywriters Association, which helps copywriters learn more about copywriting and the copywriting industry around the world.
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