Cloning. Just the word itself sounds mysterious, possibly even shady. But when it comes to business, cloning is a time-honored tradition. Take movies and television, for example. Nowhere else will you find more examples of cloning.
A few years ago there wasn’t a vampire movie or television show to be found. Then came the success of the Twilight series, and now you can’t go to the movies or turn on the television without being attacked by vampires. Put simply, whenever one studio has a hit with a particular topic or genre, you can bet all the other studios will clone their success as quickly as possible.
Or how about the technology sector? How long did it take other manufacturers to try to clone the success of the iPad? In technical terms, I believe that would be nanoseconds. All you have to do is peek below the surface in any industry and you’ll find that cloning takes place all the time.
But what I want to talk about here—and help you profit from right away—is a completely ethical and little-known approach to cloning marketing success. I do this all the time for my clients by showing them how to leverage other people’s assets, and their own, to increase their sales and profits many times over while investing less time and money in their marketing.
Here are four simple, practical ways you can gain this type of leverage in your own business immediately.
1. Leveraging Your Subject Lines
This is one of the fastest, easiest ways to build more profits into your business. MarketingExperiments, a well-known testing site, has demonstrated that a superior subject line can increase your click-through rate by 125 percent. Yet few people ever test multiple subject lines.
So here’s the trick: When testing subject lines, be sure to change only the subject lines and nothing else. If you change other elements of your copy, you won’t know for sure what actually produced the increase or decrease in reader click-throughs.
I find the best types of subject lines to test against each other are those that focus on the benefit the reader will get or a problem the reader wants to solve, or those that are a bit off the wall and generate a strong sense of curiosity, prompting the reader to jump into the email.
Here’s how to take this technique even further. For each product or service you offer, find three to five subject lines that work best with essentially the same body copy. Then simply rotate those emails over and over again until they stop producing results.
By the way, you’ll be pleasantly surprised by just how long those results last. One of my former clients, the Internet Marketing Center, built a $15 million-per-year business on just three variations of the same email the company repeated over and over. Now that’s what I call true leverage!
2. Leveraging the Power of Customization
Why have one version of your product when you can have dozens? That’s exactly what publicity expert Paul Hartunian did with his manual on how to write a great news release. Instead of having just one version, he created more than 80 versions, each customized for a specific industry.
From chiropractors to dry cleaners to consultants to software developers, Paul covered dozens of industries. And even though 85 percent of the content was identical, by catering to each industry individually, his sales shot through the roof.
Any business can do this. I advised one of my clients, DayTradingCourse.com, to create a second business selling exactly the same training course, but with a different name and an emotional copy appeal rather than the logical appeal they were using. By doing this, DayTradingCourse.com immediately increased its profits by 40 percent—and maintained that for many years.
3. Leveraging Product Development
Most businesses use a traditional development cycle for creating new products. They come up with an idea, devote months and months to creating the product, test-market to see if it has legs, and finally take it to market.
This is a massive waste of time and effort! Instead, you can eliminate months of wasted development time and find out immediately if a new product will appeal to your customers with no cost or risk whatsoever.
How? By finding a similar product that’s already being sold and offering that product to your customers before you go to all the trouble of a full development cycle. Almost all businesses have an affiliate program or would be happy to enter into a strategic partnership allowing you to sell their product.
This lets you test a product’s appeal immediately—and put the time, effort and money into developing your own version only after you prove conclusively that the product will actually sell well.
If the product does sell well, then by all means, develop your own version. If it doesn’t, drop it immediately and use this same process to test the viability of many other products.
4. Leveraging Mutual Interests
This is probably my favorite cloning technique because it’s so easy to do, yet incredibly effective.
Here’s how it works: Develop a short report, white paper or video on a topic that’s of major interest to your prospects. Next, find other companies whose email lists are made up of prospects you’d like to add to your subscriber list.
Offer to promote one of their reports, white papers or videos to your subscriber list in exchange for them promoting your piece to their list. Both sides benefit immediately.
One of my clients, a marketing consultant named Graham MacGregor, did this and got dozens of partners to co-promote with him. As a result, an editor from a major daily newspaper saw Graham’s report and asked him to write a regular column for the newspaper. Almost overnight Graham’s list grew exponentially, and he became a recognized expert in his field.
I also do this regularly by giving away an e-book called 10-Minute Business Success (available at 10MinuteBusinessSuccess.com). It features dozens of experts sharing their best piece of business-building advice.
Because the e-book’s promise has strong appeal, I have no problem finding dozens of quality partners to swap promotions with, including many of the experts in the e-book itself. As a result, we’ve all mutually benefited, adding thousands of qualified subscribers to our lists.
Profit Chasing vs. Profit Cloning
Most businesses chase dozens of new marketing ideas every year. The majority of this is useless activity that produces very little real results.
Instead of chasing illusionary profits in that way, you now understand four ways to clone more profits and get a much higher return on the time and money you invest in marketing. Why not give at least one of these techniques a try today?
Let your competition waste their efforts while you profit fully from the time and money you invest in your marketing.
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Because, as Mark Twain said, there’s no such thing as a new idea.