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[Michael Wolsey Contribution Level: 1]

Friends of Bookwise:

I'm new to Social Networking but I'm not new to Bookwise. In fact, I joined Bookwise 3 months before Bookwise's official launch on January 29, 2007. I was at the launch and it was amazing. :cheer:

I don't tell you these things to brag or make anyone jealous, it is only to suggest that I've been around the block with Bookwise a little bit.

I've tried a number of different ways to share the Bookwise opportunity. I've tried booths at job fairs and at trade shows and sharing the message with my warm and cold markets by email and in person. The things that I've found to be most successful is for your prospects to hear Richard Paul Evans or Robert Allen on a conference call, webcast or at a Bookwise event. Our leaders are very charismatic and really open people's minds to the belief that they can achieve their dreams. When they believe in their mind that Bookwise is the vehicle for them and you are the leader to take them to their dream all that is left is to sign them up.

I have even tried print advertising with limited success. But,enough discussion about methods that I've tried. I want to discuss a simple method to analyze your marketing efforts that you pay for.

First let's only take into consideration the $35.00 quick start bonus you get when you sign a new associate. You will need to test and measure different methods of print media or Internet marketing and determine which one you like and works for you.

You only need to sign up one Associate for every 35.00 you spend to cover your marketing costs. After you have found a method that allows you to sign up at least one new Associate for every 35.00 you spend all your marketing costs are covered by new sign ups. Then your organization can grow exponetially. This is also a sure fire method to pass on to your new Associates when you train them because it is easy to duplicate what you are doing. Whah Lah! A duplicatible business building system.

Some very cost effective systems I have seen are:
PM Marketing www.networkleads.com
Google Ad Words www.google.com/intl/en/ads/
Joe Syverson & Pat Berry www.ultimatecustomleads.com

It is my opionion that one of the secrets to success is sharing our message to more people. Bookwise is an incredible opportunity and by sharing it on the Internet is a easy way to share it in a big way.

Feel free to contact me or respond to my post describing what has been working for you.:cheer:

Sincerely,

Michael

Michael,

I think you're bringing up the idea of
a marketing budget.
Please verify this...

For now, I'll assume you are.

Marketing that counts, is literally marketing
done by the numbers.

As such, if you learn to find methods of
marketing with predictable results of products
with a known profit; you can ultimately have
an infinite marketing budget.

Now, for me, I'm still searching for the low
involvement tool which presents BookWise and
enrolls the person though my link without
more follow up.

I only want to talk to associates, not to
prospects.

Why?

Because the "cost" of my time, even if it
was only 10 minutes, is greater than the
$35 earned on the initial sale.

When you say the calls with Mr. Allen and
Mr. Evans work well (which I agree), what
do you have to do to follow up.

Because currently, the most cost effective
way for me to present BookWise is as an
extra offer at live events. That works
awesomely.

Cheers,

Paulie Sabol
The Quiet Networker

[Bob Gatchel Contribution Level: 2]

Mike ...

You have opened up a great thread for discussion ... and I would definitely like to throw my thoughts into the mix as well!

A few years ago, I was asked by Robert Allen to contribute to his book Multiple Streams of Internet Income - where I revealed my version of the "self funded proposal". The gist of the concept, was I wanted (actually NEEDED) a way to help reduce my lead cost, to bring in new distributors for my company. I found ways to actually make money to generate my leads (a concept that we all know very well from Magnetic Sponsoring!)

My method was to have something to GENERATE income while generating leads, but I have also taken that a step further to see how to reduce or even negate (in a perfect world) my cost of recruiting a distributor while using "paid leads".

The bottom line on making this work is the word ... CONVERSION

You need to "do the math" to be sure that your campaign generates enough sign ups to get the fast start bonus to offset your expense. In a perfect world, if your campaign costs you $35 per new recruit ... you are doing GREAT since you SPEND $35 to get back $35 when that new person signs up.

As we speak, I am personally conducting an "intense test" - using a paid lead system and the BookWisePro.com system. Where basically I am treating the concept of recruiting to BookWise like selling an internet marketing product (as I and Paulie Sabol have done for years).

(1) We're testing a couple of different lead sources, at different prices. We are keeping these leads "separate" and going to "separate" follow up systems which are BookWisePro.com websites and not the main BookWise "Bookstore" sites. WHY? We are looking to do more of a push to RECRUTING instead of sales.

(2) We are driving the leads to a BookWisePro.com online capture / customer follow up system. We like using that because the system has a compelling "funnel" to lead people from learning the story to signing up for BookWise in a simple step by step fashion. PLUS there are proven, prewritten autoresponders that are sent to the prospects over time. Bottom line? Plug the leads in and let the SYSTEM do the follow up for you as Paulie suggested in his email.

(3) We are monitoring the total cost of leads, BookWisePro and other ancillary costs very closely so that we can determine how many of the LEADS raised their hands to become PROSPECTS and how many of them became DISTRIBUTORS.

So ... what we'll do is for each lead company, we'll do the following:

* Take the total cost associated with the lead generation for the period of time, and divide that by the number of NEW RECRUITS we generated. That will be the "cost per distributor" for that particular campaign.

* HOPEFULLY :laugh: that number is EQUAL TO or LESS THAN $35!

Bottom line? Did you spend more than you made generating new distributors! If you break even or go into profit GREAT!

But I will tell you, more than likely most of us won't do that. There are a lot of factors to this. How well the prospects convert (this could be due to product, price point and / or other factors) etc. MORE THAN LIKELY the generation will be "in the red" a bit where you spend a little MORE than you get back.

But that opens up ANOTHER question. How long is the distributor going to stay in, or duplicate, or grow their business so that you will be able to "recover" that investment over time. Will their ongoing commissions and downline growth in the future be enough to recover what you still have left on the table from the lead generation.

THAT is something that is kind of tough to quantify in a short period of time. You'll have to look at your overall statistics over time for distributor retention etc.

THEN of course, you will want to test another lead source, and test your message and your concepts. The old rule IS "Test Test Test".

LET US KNOW HOW YOUR TEST GOES!