During the past year or so I’ve been running WSOs, I’ve had some level of success with all of them.
Now, success generally means breaking even or making a small profit. I’m not talking about getting rich directly from the WSO (they do tend to repay themselves in other ways).
I’ve had a few WSOs that have taken off and done really well too, but it’s always guesswork which ones they will be.
But, I’d never ran a WSOs which I’ve considered a total disaster – until I ran WSO Trust, that is.
It was a product I had hopes for being useful and valuable, but it just didn’t take off.
You can view the offer at http://wso.im/wsotrustwso.
In this blog post, I’m going to break down the WSO Trust offer as I saw it, and look at what went wrong with running the WSO.
The WSO Trust Concept
This was a report I actually moved very quickly with, from concept to execution.
When reflecting on a number of WSOs I’d purchased recently, I realised that not all the WSOs were of the same standard.
Sure, there were some gems there, but there were also some dire products. And, these dire products generally looked much better than they were based on the sales copy.
On the plus side, I know when I first started in Internet Marketing I ended up buying a lot more products that weren’t that useful to me. So, my experience had been useful. But, there are a lot more people using the Warrior Forum now than when I started (and there’s also a lot more trash on there). I know that a lot of people are getting burned with poor quality offers.
That gave me the concept. How to assess the value of a WSO, based on the very factors I notice as an experienced Warrior. I thought of 8 of these factors (which I named Trust Factors), structured the results around them, and set up the product using WSO Pro.
All ready to go.
The WSO Trust Offer
The other decision to make before launching a WSO is how to price it.
I’ve had some success with $1 WSOs before, and I wanted to make this product attractive to new Warriors, so I decided to offer this at $1.
In order to introduce a little scarcity to the offer, and make early sales, I decided to limit the $1 copies of WSO Trust to the first 100 buyers. After that, the price would be $5.
The $5 price would be warranted based on the good feedback from early buyers, and still being low based on the potential money saved on poorer quality WSOs.
I also considered that $5 would be more attractive to affiliates, coupled with 90% instant commission using WSO Pro (the only reason for not offering 100% commission was to prevent people signing up as an affiliate solely to purchase through their own affiliate link).
A side reason for running this WSO was to add buyers to my WSO email mailing list, both through the initial offer, and the affiliate promotion.
The Results Of The WSO
As of the time of writing, the results of the WSO are 58 sales, with 49 going to me and 9 to affiliates.
All these 9 affiliate sales have been to the same affiliate, warriorplus. This is largely because of how the WSO Pro system operates. When you launch a new WSO, previous customers get an automatic affiliate linked email from WSO Pro, which then receives the affiliate commission. There are also a number of places where the WSO is advertised in the WSO Pro site itself, and in other emails.
The downside of running a $1 WSO is that around one third of the income goes in PayPal fees. So, the income after fees to me from the WSO was around $32.
That doesn’t sound too bad at first glance, until I say that to get there cost a WSO post and a bump (total $80), the WSO Pro licence, as well as an email to my list, a number of posts around the Warrior Forum to get my signature link seen, plus the time taken to develop and set up the product in the first place. Definitely not a good return on the time spent.
I added a handful of new leads to my mailing list, who entered through a good value product, which is promising, but this doesn’t really make up for the way that WSO Trust performed.
Feedback from buyers on the WSO thread was also excellent – probably the best feedback I’ve ever had for one of my products. But, that didn’t equate to convincing other people to buy.
The $5 part of the WSO plan never materialised, and it was really necessary to get there for this WSO to work.
Why WSO Trust Failed
This has taken some thought, but there are a three main reasons why I think WSO Trust failed.
(1) I got the pricing strategy wrong.
I think people equated the $1 low price of WSO Trust as equalling a low quality offer. And, the 100 person grouping of the first price point was siply too many people.
Setting this at $1 for the first 50 people would have worked better, or perhaps going straight to the $5 price. I could also have run this as a dime sale, starting at $1 and putting the price up for 10c each sale. That’s worked for me before.
(2) I mailed my list too late.
I usually try and mail my list as soon as the WSO goes live, but with this WSO being less planned than normal, I already had a mail scheduled. I mentioned the WSO at the end of another email, and then mailed properly the next day, but with the speed the WSO moves down the Warrior Forum, that was too late.
I must admit, I did anticipate that this $1 offer would be immediately attractive to new Warriors, but with only around 20 copies sold the first day, that obviously wasn’t the case.
(3) The offer was clearly not valued!
What I anticipated as being a selling point for new Warriors, differentiating between good and bad WSOs, clearly didn’t work at all for the target audience.
It’s either a problem that marketers have to meet themselves, or the more experienced Warriors thought that this information was beneath what they needed.
Thankfully, these are all factors which I can address when planning (and releasing) future WSOs.
What Now With WSO Trust?
The consensus of knowledge says that there will always be offers that don’t work. In that case, you should use this as a learning experience and move on to another product.
I don’t want to do that with WSO Trust, as I feel that this information is really necessary for new Warriors. But, by the same token, I can’t put a lot more work into a product which won’t bring a return.
I’ve thought about adding a video or webinar component, where I look at some WSOs a break down the offers based on the Trust Factors, but that largely looks like the ‘work with no return’ mistake.
I want to keep the WSO alive, but without bumping it, so that other Warriors may buy some of the remaining copies. I also hope to still interest the right affiliates who can see the value of improving the offers on the Warrior Forum.
Apart from that, I may consider some form of rights deal to help this product to get out into more hands. There are also other products I can release for which this would make a good bonys.
But, this is still very much up in the air for the present and open to ideas.
Over To You!
In this post, I’ve outlined some of the reasons I think that WSO Trust didn’t do well, but I’m sure there are other obvious factors.
I welcome any thoughts about why the offer didn’t work, or any comments on this post you’d like to add.
Just reply below to share your thoughts.