Money that you could be using.
Money that, unless you do something about it, will slip through your fingers and vanish without a trace.
Where is this money - and how do you get it? Most businesses have many hidden opportunities for discovering "windfall profits" - but I want to focus on just one of those opportunities in this article.
That "opportunity pocket" is: marketing and advertising.
In my experience, almost every business - whether it be retail, service, professional practice, or "business to business" in its nature - is unconsciously letting profits slip away.
Your biggest opportunity most likely lies hidden inside your underperforming sales copy (copy that isn't selling as many units/contracts/ memberships as it potentially could be).
If you want to make more sales without spending a single dime in additional ad costs, this article might be the most important document you read this year.
Make Piles of Money With "Upside Leverage" "Upside Leverage" is a concept I learned from marketing genius Jay Abraham.
We all know what leverage is: using other people's money to build your business, or other people's efforts (through delegation, for instance) to increase your own productivity.
"Leverage" involves using one asset (the lever) to increase the value or power of another.
The only problem with using "leverage" is the potential downside: if you use financial leverage to borrow money for a business project, the project could possibly fail, and you would be forced to pay back the money.
If you use the leverage of delegation in order to make yourself more productive, there's a chance the person you're relying on might let you down.
"Upside" leverage is leverage that involves little or no potential downside.
It's my belief that underperforming sales copy is the most potentially profitable of all forms of "upside leverage".
Please read that sentence again, because it's too easy to let the profound meaning it contains slip past you:
Underperforming sales copy is the most potentially profitable of all forms of "upside leverage".Think of it this way: any ad or promotion costs the same whether it performs well or not, right? If you spend $100 on an ad, and you get $500 in business as a result, you made a 5-1 return on your investment.
That's a good return.
You did what you set out to do, you made a profit.
what if you could take that same ad, and change it in some way that made it 10 times more effective? What if now it returned $5,000? You spent the same $100 for the ad...
but you got back $5,000.
Instead of a 5-1 return, now you're getting 50-1! That, my marketing friend, is "upside leverage"! Change Your Copy, Change Your Income There is so much bad copy on the web, it's almost laughably easy to be better than most of your competitors.
Why is that? I believe there are a number of reasons, but here are a few of the common ones: 1.
Some people just don't realize their copy is bad.
They wrote it themselves, or their brother or their niece wrote it.
They think it's wonderful - but in reality it stinks like a dead skunk.
Others don't realize how important their sales copy is.
This is a naive belief, and it astounds me that so many people hold it - but they do.
Some people seem to think that as long at the copy has "just the facts", that'll be good enough.
It never is.
Some people are just cheap.
They spend hundreds of thousands of dollars to start a business, buy furniture, hire staff, provide benefits, etc.
, but when it comes to the one piece of communication that might actually cause someone to buy from them - they don't want to pay for it.
They "delegate" this crucial task.
Are you making any of these mistakes? If you are, this is your wake-up call.
Take advantage of the potential "upside leverage" that exists in every ad or promotion.
Make sure you ads are performing - that they are making you sales every day.
And that they are making you more sales this week than they did last week, etc.
You do this through constant improvement and testing/tracking.
You also do it by either hiring a copywriter, or investing in educational materials that will teach you how to write your own copy.
Either one can work - it's up to you.
If you love to write, and you think you have a knack for it, then by all means get a good home-study course on copywriting and do it yourself.
Don't put it off - do it right now.
Otherwise, you're throwing money away that rightfully belongs to you.