Today, I want to share some information with you that I've never seen shared in public before.
It's the result of a recent list building experiment I tried using the $1 WSO method.
For the uninitiated, the Warrior Forum is an Internet Marketing forum. WSO stands for Warrior Special Offer. It's an area of the site in which marketers can pay to advertise their own product.
I recently ran a $1 WSO selling a proven product. A lot of marketers recommend this type of WSO. The stated benefit of the $1 WSO is not financial, but is from capturing proven buyers onto your e-mail list.
In fact, out of every $1, only 66c is transferred to your PayPal account. The rest goes in PayPal fees. So, financial motivation should definitely not be a reason for running one of these WSOs.
It is about delivering to customers. The buyers benefit from a quality product, worth much more than the $1 spent.
The $1 offer was live for 48 hours. During the WSO, the product amassed 716 views, which is a good number for anything in the WSO Forum.
The cost of running was WSO was $40.
Exactly 60 sales were made, for takings (after PayPal fees) of $39.60.
So, this was a breakeven experiment.
(actually, the sales themselves made a very slight profit for reasons which I will go into another time – although the product acquisition costs meant an overall loss. Of course the product is still on sale, just not at the WSO price).
What does all this mean?
It means that the $1 WSO can work and it can, with the right offer, be a low risk proposition for both the buyer and seller (and in internet marketing, spending $40 is a pretty low risk).
The gains however, may be relatively modest, depending on how you value 60 new buyers and subscribers.
In my case, I consider it a success, but not an overwhelming success. But enough of a success to try it again in a few months with another suitable product.
So, if you are considering running a $1 WSO, go ahead. Don't overthink it. You will see results.
I'd appreciate comments from anyone who has run a $1 WSO, or is thinking about it.
Even better, do comment if you've run a $1 WSO as a result of this blog post.
All contributions to the blog are highly valued.