We’ll launch right into the model email series here, so you can see how building trust and credibility leads to sales.
Let’s say that we have a few days of credibility building at the beginning of a campaign, then we do a little bit of content and knowledge mailing, then we do some engagement emails for a few emails, then on days 8, 9, and 10 we begin to launch our coaching training, product. This is the series.
We are taking people from:
Credibility to knowledge to trust to excitement about your product… and then you launch your product.
You’re going to go through a process where you take people who were joining your list and who don’t know you and build credibility. Then you show your knowledge base. Then create engagement for trust. Then do your sales campaign.
During your launch sequence some people buy from you, but most people won’t buy from you. Before we continue, I’d like to give you an interesting statistic. Let’s say that you have 100 subscribers, and you’re selling a $1000 training package and 98 of those 100 don’t buy, you still generated $2000 from 100 subscribers. This means each subscriber is worth $20. Let’s instead say that you sell a $300 training program and out of these 100 subscribers, only six buy. You have still generated $18 per subscriber, and that’s the first few weeks of the campaign. Remember, even if they don’t buy, they’re still going to stay in the campaign (I’ll cover why this helps you in just a moment).
We now ask the question: “Why did these six people buy our $300 program or why did two people buy our $1000 program?” They buy for two reasons:
One reason is that you have what they need. For example, if you’re in the cat niche and you’re selling a course for dog lovers then you’re probably not going to get people to buy because these people were just not interested in what you have to offer. If you’re marketing to the wrong people then you’re not going to sell anything. So let’s make the assumption you’re selling to the right people and what you’re offering them solves a problem.
But, in order for them to buy, they still need to trust you and feel good about making the purchase.
The idea of gaining trust includes getting credibility and proving knowledge.
We can sum it up as: “They have to want what you have, they have to believe you’re credible, they have to believe you have the knowledge to teach them, and they have to trust you.”
So we could say there are 4 components and if we wanted to break it down that way, we could do that. The bottom line is that people who buy from you trust you. It just “feels right” to buy from you.
What does that tell us about the other 94 to 98 people who didn’t buy in our example? They’re not ready yet, they don’t trust you enough. If could be that they did not get all of your emails. If could be that they don’t like you for some reason. If that’s the case, hopefully they’ll just unsubscribe and then they won’t be a part of the numbers anymore. Sometimes that happens: people just don’t like you (and that’s okay).
But why don’t most people buy? If they have an opportunity to buy from you and they may not because they don’t read your emails, which means they were targeted badly in the first place. Or they just don’t trust you enough. They could trust you some, but not enough.
They may trust you enough to do something little, but not enough not to invest $1000. The bottom line is they don’t trust you enough to make this purchase. So what do you do?
Using Trust to Capture Sales After Your Initial Launch
After the launch you repeat the credibility, content, knowledge and engagement all over again.
Then what happens to those people who didn’t trust you enough to buy when you offered them the coaching opportunity or the training opportunity? They go through another sequence where they get a few credibility emails, a couple of knowledge emails, and a couple of interaction emails. So, what happens next? Now a percentage of your list will trust you more!
Now let’s go back to the $1000 package and say that 98 people did not buy, 2 people bought, and you made $2000. Now you have 98 people that will go through the next 10 days of your campaign.
Let’s say at day 12, when they had the opportunity to buy your coaching program, they didn’t trust you enough to buy. But if they go through the credibility, content, and engagement process again for 7-9 days is there a possibility they’ll trust you more?
Some of them may trust you less and unsubscribe. So they unsubscribe and they’re out of the basket of prospects. The ones that are left that are reading your emails… and most of them should naturally trust you more.
Now you run another campaign. Let’s say that you have both a training program and a coaching program. If you launched your coaching program first then after the next 7 to 9 days they’ll have more trust so you launch your training program.
So now you have 98 people on your list, and 2 of them buy your training program. Now have 96 left. Now, why did the 2 buy this time but didn’t buy last time?
There are two reasons. One: they trust you enough now. Two: you might have wanted to stack the tables in your favor. Let’s say that you sold the coaching program for a thousand dollars, and now you say, “Okay, maybe some people didn’t buy because of the price, I’ll make the Training Program $500.”
And so maybe that helped influenced things as well. What is the only way to know? Split test it. Have a training program at $1000 and have one at $500. Then put 100 or 200 subscribers through a funnel and see which you sell more of. You’ll find that the higher priced products sell more sometimes. Then just look at your total revenue. If you think about it, you have to sell twice as much at $500 as you would $1000 to make the same amount.
So even if your conversion rate is 20% better at $500, you’ll still be better off selling it for $1000 because you’ll make more money in the long run at this price.