If you are interested in generating FREE and targeted traffic to your product, service or business then the Self Liquidating Offer (SLO) is your answer.
The Self Liquidating Offer or SLO is a low-priced product (usually $7-$27) that you offer to your prospects AFTER they opt-in to your e-mail list.
The process works like this:
Traffic => Lead magnet opt-in page => SLO => Delivery of Lead Magnet
Let’s break down each step.
Before you can make anyone an offer you must get them to see it.
This is called traffic and it is basic to a digital marketing business. This is not the place to discuss traffic strategies. There are plenty of resources on this subject here on this site and elsewhere.
Regardless of where people are coming from, the first step is that you must have eyeballs on your offer.
When people come to your site / offer, they are typically looking for a solution to a problem (pain) or education on how to achieve a desirable outcome (pleasure).
This is basic human psychology and it is what motivates someone to buy what you have to offer.
However, in attraction marketing, you want to lead with value. You don’t want someone’s first impression of you to be a sales offer asking them to buy.
No one likes getting sold to…
Thus, you want to provide something of value (called a lead magnet) in exchange for your visitor’s e-mail address.
This lead magnet can be a PDF report or guide, chart, mind map, checklist, MP3, or video that solves a particular problem or leads to a desired outcome,
Here you can see a sample lead magnet. The key for any lead magnet is simplicity.
There is an entire science on creating lead magnets. You can follow this 7-Step Formula for creating your own.
After the person opt-ins, they are presented with a self-liquidating offer.
The self liquidating offer is a low-priced product that you offer your prospects right after they opt-in to your e-mail list.
The reason the offer comes right after an opt-in is because your visitor has already committed once. Thus, they are already in a receptive state.
But the SLO isn’t just a random product. It’s essentially an extension of what someone just opted-in for…
In the case of the headline lead magnet, the SLO is a step-by-step training on creating a high converting sales letter. This is what makes the SLO compelling.
Here is the offer page that comes right after the opt-in.
There are many compelling reasons that someone would take the SLO:
Listen, $7, $14 or $27 isn’t going to break your bank. But there are tremendous benefits to having someone take you up on your SLO.
There is a huge difference between a prospect and a customer
Even if someone spends only $1 with you, their psychology has changed. They have made a big commitment to you and your brand.
People who buy once are more likely to buy again
It is cheaper to sell to an existing customer than to cultivate a new one. Also, if someone has received value from your SLO, then you have built up trust and goodwill.
This will make your customers much more receptive to your next (and usually more expensive) offer.
You can cover your ad spend
This almost deserves a post by itself. It’s that HUGE.
Traffic is the lifeblood of any online business.
Currently, there are two forms:
If you have to pay $0.50 to $1.00 for every lead, you will quickly go broke unless you have a big advertising budget. But with an SLO, you can afford to pay $2-5 per lead because a certain percentage will take your SLO.
After an initial investment, this means you can turn on the traffic spigot and keep it going without worrying about breaking the bank. You get to build a big list of prospects AND customers, you make a small profit AND you can continue to monetize your list.
Your business builds itself for free.
Here are the links to a few lead magnets, each one having an SLO on the back end.
I encourage you to study the landing pages, the sales letters and the SLOs and model them for your business.
If you are interested in checking out the digital marketing platform I use for my business, complete with all of these lead magnets and SLOs, check this link here.
If you have a question about the system or anything in this post, shoot me an e-mail => email@example.com.
To your success!