Do you need a large following to make money from a tiny offer?
No – you do not need a following to successfully sell tiny offers. But you do need to know what you are doing.
Someone recently mentioned an article she had seen, suggesting that a large following is required to get traction (as in revenue and profit) from a tiny offer.
I believe this not to be true.
While selling low priced offers to your existing followers may seem like a good idea to raise quick cash, this is not necessarily a sound strategy.
A much more robust model is be to sell existing followers (as in people who have made an investment in your services however small already) a higher level of service – traveling them across a ladder of escalating prices, involving a corresponding escalation of degree of contact with you and your expertise on a one to many or one to one basis (in person) – and thus higher value to their business.
Tiny offers are at the front end of your funnel.
The whole concept of Tiny Offers is that they bring people into your world – and offer huge value at a relatively low investment – thus optimsing conversion.
People will assume that you have even better content deeper in your offer, but the reality is, that some of your best assets may be delivered in the initial front end offer and that the higher value is in fact in your time with them either as part of a group or one to one.
Tiny Offers MUST be huge on value, but should also be lean in terms of getting one to one access to your time.
Tiny Offers work really well for both parties – being the buyer and the seller, because you create the initial content ONCE – and sell it multiple times.
Conversion rates are HIGH, because you are delivering high quality content at an excellent price – but offering no personal assistance.
Self Funding Offer
One of the most beautiful aspects of the Tiny Offer (also sometimes called Low Price Self Liquidating Offer or SLO), is that they are designed to onboard new clients into a sales ladder, and literally fund their own advertising.
Revenue for Tiny Offers is generally pushed back into ad spend in a gradual scaling of campaigns – once you hit a winning offer with a winning ad message, you are onto something big. The profit comes from conversion to higher value offers, which would be much harder to sell without the initial tiny offer and low price point in place.
The Tiny Offer is pretty much the thin edge of the wedge. The follow up offers are your back end higher profit, while the front end keeps the prospects rolling in on a self funding basis.
It might take you a little while to find your optimum Tiny Offer & following upsell concept, but once you do – stick with it and scale its exposure through ads – filtering the people who have seen and purchased already into exclusion audiences, used for lookalikes to get fresh eyes on your now growing exposure.
So, in summary – the concept of Tiny Offers is actually to introduce NEW prospects to your unique services by giving them a value packed offer (and it must deliver high value) – thus the size of your following is not so relevant.
From there, you have the opportunity to offer them more – firstly as your one time offer upsell right after they have purchased the Tiny Offer (that is one of the best times to upsell, while their credit card is already engaged) – thus allowing them a little access to you, probably in a group or added tuition, recorded or not) and progressively, you will pull them closer and closer with your knowledge and approachability.
This second tier conversion and those beyond it to higher offers do rely on the size of your following – and on your skill in creating conversion to the higher levels. It’s all about testing, optimising and paying attention to the details.
If your Tiny Offer is progressively bringing more people in, your primary focus is really very much on converting to the next level and delivering high service to those who have converted.
it’s well worth the effort of creating a converting sales funnel – from ads to high value offer..