A Crypto Funnel Analysis Part 3 [Copywriting Funnels]

What’s the difference between choice and free will? This is part 3 of a series on sales funnels, and in particular, one that popped up in my inbox over the last month.

If you had bought a single Bitcoin in 2010, you would have paid around 6 cents. As I write this (28th November 2020), the value of a single Bitcoin is $17,678.

Bitcoin is therefore the fastest rising asset class in the entire history of the world when measured over a single decade (beating the Dutch tulip mania of the 17th century into a pulp, and reducing the South Sea Bubble to no more than a drop in the terrible ocean of despair it traded on).

Current estimates are that take up for crypto is in its infancy (ie. it’s still in the earliest part of the “early adopter” stage of a product’s life cycle).

With the news that Facebook, J P Morgan, Paypal, Amazon, and a whole host of governments and other interested parties are starting to take it seriously, there’s a fair chance it will get beyond early adopter status and become accepted as part of the financial infrastructure of the world.

That places all things crypto (and in particular Bitcoin) in a perfect exploitation storm – hence this particular sales funnel promotion I’ve been analysing.

The last exploitable fad was the internet (which has progressed well into middle age now and a long way past its early adopter stage). But that was (and still is) hugely complicated.

Crypto, on the other hand, is drop dead simple, not least because it has zero real world value – there is nothing tangible whatsoever, the code is open source (it has to be for transparency to work) – and no one owns it (in any sense other than having a slip of paper with your credentials on it).

On top of that, you can now buy it with a credit card. You don’t need to declare it on your taxes (unless you sell it). And it’s about as secure as anything is possible to be secure (just store your unique security code on a piece of paper and bury it in a hermetically sealed container in the garden and no one will ever be able to dig it up unless they know where it’s buried and understand what a piece of paper with a line of arbitrary text means.

So yesterday I promised to reveal why people push these sorts of promotions. Two reasons. First, if you pick a unicorn like the internet or crypto, you can make up pretty much anything you like when it comes to benefits.

Second, if you want people to part with money fast, then you’re going to have to pull out all the stops and trick their minds into believing that if they miss this ONE thing, they will NEVER get the opportunity again. EVER.

We’re easily fooled, and the second anyone discovers and hits our weak spots (lust, gluttony, greed, sloth, wrath, envy, pride, plus time), we’re there for the taking.

PS. So what is the difference between choice and free will? Nothing but persuasive copy. When done right, we believe we’re making a rational choice. We believe we had free will in that decision, but the truth is, the decision was already made the second we read the headline (otherwise we would have “chosen” not to read it at all).

PPS. If you read a headline and fail to buy the product, it tells me everything I need to know about the headline, the target audience, and the copy – and that is, in a nutshell, they’re not good enough. How do I fix that? I reread all the above and then decide if I can make a case for whatever it is I’m trying to sell. Or to put it another way: Write better copy.

PPPS. There is of course a lot more to this, but the above is a good place to start when thinking about what makes great copy work.

PPPPS. Or you can just lie, cheat, and steal (but that’s no fun as it’s too easy and does not bring long lasting satisfaction).

PPPPPS. My new book – Copy for Beginners, is nearing completion. You can read along with my daily diary here: https://docs.google.com/document/d/1xns1095JQL5oX3a_ljf0TUSiAKOA15-_jtmrSacsnqc/edit?usp=sharing


crypto, funnels

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