The strategy you’re going to learn in this blog post is of particular importance to you if you control your pricing.
If you don’t control your pricing, you’re missing out on several strategies that you can implement to generate additional cash flow …
And a lot of those can be automated to generate long-term income.
If this idea of who controls your pricing is new to you, just think of it this way:
If you’re doing network marketing or affiliate marketing, someone else is actually selling the product. You’re not the vendor.
But if you’ve got your own coaching, consulting, info products, courses, etc., then you’re the vendor and you have control over your pricing.
From the very get-go with my business, I had no plans to be only an affiliate.
I always knew there was going to be some product or product line for which I could control my pricing because it opens up so many avenues of additional and automated income, long term.
Let’s dive into this concept …
Introducing the 24-Hour Cash Flow Machine
What’s the 24-hour cash flow machine?
The concept is simple …
Make up a reason (any reason!) to run a sale.
Here’s a hard truth:
Many creator-based businesses and product sellers often forget that marketing and sales are two sides of the same coin.
Publishing YouTube videos to bring in an audience, growing an email list to build your audience, those are marketing activities …
Those are great.
They are needed because they help to build your audience.
They get you that captive audience whom you can connect with …
But then you’ve got to sell them something if you want cash flow to come in.
You need to oscillate back and forth between sales and marketing.
A lot of my students will go through the hard work of building out a course or a product and then, at the last minute, they’ll slap together a sales letter with the last bit of energy they have.
They’ll launch it out to the world, but then they don’t revisit it.
If this is you, at least you have a place to start!
You can revisit it, dust it off, make it fresh again with the 24-hour cash flow machine, and, voila, you’ve got a new promotion.
You’ve got something to send out to your list.
You’ve got something to send out on social – wherever you’ve got your audience.
And having that hard deadline – the 24 hours – gives you the ability to email them multiple times.
You can also extend it to 48 hours or 72 hours.
How the 24-Hour Cash Flow Machine Works
If I was going to do a 24-hour cash flow machine, here’s exactly what I would do:
First, since I’ve been selling products, I would go into my shopping cart and load the last two to three years of data.
I would check out the graph that shows how much money I made each day for the last year or two.
Then I’d look for the spikes in the data …
Where are those really large spikes that stand way above all the other data points?
We’re looking for the outliers, the things that performed really, really well in the past …
The odds are, you haven’t gone back and rerun that promotion.
I would grab that promotion and I would rerun it with as little effort as I could to make it relevant to now.
And what I mean by that is this …
It might be a Black Friday deal you did in 2019. Does it matter that it’s March of 2022 right now?
Make up a reason for a sale …
Now, in our business, we don’t do this very often …
Because if you overuse it, people start to expect things on sale, and you don’t want to do that.
But sometimes you need a jump start in your business income.
Let’s say you want to start running some paid ads. You want to scale your business, and you need some quick income.
I know for a fact if I’m running paid ads, I’ll grow my business more quickly … but I don’t want to run out of my “bank of Beckler” in order to get those first pay-per-click ad dollars.
But you can run a 24-hour cash flow machine.
- Dust off an old product
- Update it
- Wrap it up
- Email your audience about it …
And, voila, you now have an ad budget to work with.
This is not like, “I want cash in my pocket so I can buy a Lambo.”
This is cash flow to go into the business so you can reinvest it in an intelligent way.
It can also give you some conversion data on a new product and the ability to offer your email list and subscribers a good deal.
Make your inner circle feel good.
Right now, we’re in inflationary times. Gas prices are rising quickly. People are feeling it.
In my world, people know they need to step up and grow their business.
They’re ready to do what it takes …
So when I launch my next product, I have every intention of doing a 24-hour sale:
“Your world is getting more expensive, so for 24 hours, I’ll give it to you for 50% off with this promo code.”
It’s as easy as adding a promo code inside my shopping cart, and then writing an email.
If your shopping cart doesn’t have a promo code feature, just go into the sales page, change the wording, and add a countdown timer to the top.
Take Action to Bring in the Cash
I hope you take action on this.
I hope you see that you’ve had these assets, as I like to call them – past products and past things you’ve created that are of value to people …
And I hope it reminds you that you owe it to your audience and to yourself to promote your stuff.
Go through the process and run a 24-hour or 48-hour sale this weekend.
Emailing Your List for a 24-Hour Cash Flow Machine
If you’re doing a 24-hour sale, send out your first email on the afternoon of the first day.
Let your list know:
“Hey, you’ve got 24 hours” …
And then the following morning, at the least, send another mail out again.
Make sure you’ve got two emails in during that period of time.
If I was feeling really ambitious, or if I had an international audience, I would probably queue up an extra email to go in between – an email every seven or eight hours.
Emailing Your List for a 48-Hour Cash Flow Machine
Now, if you do a 48-hour cash flow machine, do one email to announce it, and then send out two emails on the last day …
Send one in the morning, saying, “Hey, it’s the last day …”
And then send one when there are only three or four hours left:
- Last chance
- Final notice
Those kinds of subject lines get massive opens as long as you don’t use them too often.
Working Longer Cash Flow Machines
If you want to do a three-day cash machine, you’re going to get some sales on the first day, and then you’ll get all the rest of your sales on the last day.
That’s what will generally happen with these special sales…
Your most ambitious people will buy right away, and you’ll get some sales on the first day. Then, sales will drop down to almost nothing in the middle.
So if you’re doing a 7-day launch, days 1 and 2 will have some sales; days 3, 4, and 5 will have very few sales, and days 6 and 7 will have lots of sales.
Generally, the last day will have almost all the sales.
But why stretch it out over 7 days? I have no data that says a longer promotion is better than a short one, so why drag it on?
Why give people who open it and look on the first day 6 days to procrastinate?
That’s why the idea of the 24-hour cash flow machine works:
It compresses the time frames.
If you feel more comfortable doing it over 72 hours because you want to see it work the first time and you don’t want to go full-speed, that’s fine.
Run it for 72 hours.
The Key to Automated Income
Here’s the concept …
You’ve spent the energy to grow your audience and you’ve got them on an email list.
You know they’re on the path to solving something in their life and you’ve created products that will help them on that path …
Now you’ve got to sell it.
And how do you sell it?
Every way you possibly can.
Technically speaking, a proper sales letter is required.
If you want to test a video sales letter on top of that, fine. But you’ve got to have a proper sales letter that goes through the main components — all of those copy blocks that walk the user through the process of buying.
It’s an emotional path and a logical path of persuasion to help them get that thing they want that’s going to help them.
You’ve just got to write it all out in the right way.
If you’ve been on this path for a while and you’ve got shopping cart data, find those past promotions that did really well, which you never went back and reoffered.
We’ve made multiple six figures reselling products that we created and launched years ago.
It’s one of our main strategies within our business …
And this is the concept of automated income.
Go into that dated offer and find out how to make it relevant here and now.
Dust it off, fix it up, put a bow on it …
And launch that thing!
Drop the price 50%, 75% …
We had a product that was $247 and we dropped the price to $47 …
And it sold amazingly at $47! That offer has brought in an incredible amount of money and it was just a random idea because we needed a cash-flow injection to the business.
So, give it a try:
A quick 24-hour cash flow machine launch.
See what happens, measure the results, and you’ll be on our way.
Bump Offers and One-Click Upsells
And while you’re doing that, I hope you’re working on your next product as well!
Because the truth is …
You’re probably done selling before your audience is done buying …
This is a really important concept that the most successful marketers truly understand …
There is a segment of your business who are so frustrated by the problem that they’re ready to do everything.
They want all of the things …
And they would prefer it if you gave them a bundle option and a couple of bumps and made it nice and neat so they could buy everything right now.
Odds are, you’re not selling that way.
So, the final note here is this:
If that product is a standard product – a one-off product, a course, etc. – if you don’t have any bump offers, find another product and add it on as a bump so they can check that box on the checkout page and get two products.
If you’ve got an upsell that you’ve already written – or an upsell video that works – attach that upsell to this product as well …
- You’ve dug through the data to find something that worked, that converts
- You’re going to dust it off and wrap it up
- And not only are you going to launch that offer with extreme urgency
- But you’re also going to add a bump offer and a one-click upsell
You might find that the conversions are as good or better than they were …
Which means you’re going to create another one of those spikes in your shopping cart data that are really fun.
That’s the cash register going CHA-CHING!
(It’s a good thing to do if you are in business, LOL.)
But you’re also going to find, by adding a bump and/or a one-click upsell, you’re going to get a higher average order value.
On average for me, between 30-40% of people take the bumps when I get them dialed right, and 25% to 30% of people take the one-click upsells …
So, it can add another $20, $30, $50, $100 to the average order value.
For example, I have some products that are $11.00, but after all the bumps and stuff, it’s usually a $40+ average order value.
I also have a product that is $7.00 that consistently makes $27+ as the average order value …
Many users choose the bump offer or two-bump offers if they’re there … as well as the one-click upsell.
That’s the idea.
You get out there and start selling more things …
And sometimes to sell more things, you’ve just got to look back and find something, dust it off, find a reason to sell it now, and send it out into the world.
Yes, you should be creating new products and writing new sales copy …
You should always be working on new offers because it’s those offers and those conversions that will ultimately bring the cash flow to your business.
I hope this has been helpful.
Give it a shot and let me know how it works for you; if you launch a sale and make some cash, leave a comment or hit me up on one of my socials.
I hope you have great success with the 24-hour cash flow machine!