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Hey, this is Terry Dean.
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And today we're talking about the Amazon
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funnel formula, how YouTube can create a
passive income and attract a flood of
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self liquidating buyers from Amazon.
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So why Amazon?
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That's because Amazon is the buyer's
search engine.
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Now pretty much everybody knows that
Google is the number one search engine
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and the second most popular search site
is YouTube.
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But when it comes to buyers and where
they get started, 63 % of online shoppers
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go to Amazon when they start searching
for products.
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That comes from a 2020 survey from
statistica.com
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Think about that for a moment.
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63 % of online shoppers go to Amazon.
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Now let's add in the fact that Amazon has
over 200000000 prime members.
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And their prime members spend an average
of one thousand nine hundred and sixty
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eight dollars annually from the latest
statistic that I've seen.
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And 89 % of buyers trust Amazon more.
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Than other e commerce companies that
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comes from feed visor.
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You put all these stats together and you
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can see that Amazon is the place that
people go to buy.
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So that if you want to get your message
in front of the largest group of buyers
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online, Amazon is the place to go.
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Now for most of my clients, we deal with
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some type of information product or some
type of service that we offer coaching
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consulting courses.
Other types of information workshops.
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And that means with Amazon that you're
going to be dealing with books and Kindle
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books primarily.
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And when you start thinking about Amazon,
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it seems like everybody wants to have
that big one best selling book.
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But when you do your research and you see
what's working on Amazon for others,
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you're going to find out that the
majority of authors that do really well
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on Amazon have multiple books.
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I went over to written word media.com
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and I have a link here that you can go
over to and visit and they talk about a
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survey that they did with authors who are
earning 6 figures or more.
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And one of the interesting statistics
that came up in that survey is that the
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authors who were earning more than a
thousand dollars a year on had twenty
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eight plus books in the system now.
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That isn't directly relevant to what
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we're talking about today because the 28
books, this is for an author that's
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primarily making their living based off
of book income.
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That's not what I'm suggesting that you
do, or that the majority of my clients
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do. Instead, your books are a lead generator
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for other courses or other services that
you offer on the back end, so you don't
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necessarily need 28 books.
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But I brought up the statistic so that
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you can see they're not making money just
from one book.
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They're not making the majority of their
money just from one book.
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They're making it from a multitude of
books.
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And there's a reason for that, which
we'll cover in a few minutes.
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And that's because Amazon, the way the
system works, the way that the algorithms
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work, if you have multiple books in the
system, they're going to end up promoting
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each other.
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They're going to end up reselling each
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other, and then pretty much all of your
books end up doing better.
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So this stat is for those who are full
time writers who are trying to make a
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living from Amazon.
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We're using it as both a source of some
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passive income and as a lead generator
for our other products and services.
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And so as we talk about that, I want you
to think about what the term self
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liquidating leads mean.
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I just used that at the very beginning.
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Self liquidating leads means that we're
selling something on the front end that
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pays the cost of customer acquisition.
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So we're not really trying to make a
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large profit on the front end.
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We're just trying to sell something to
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bring customers in, because selling a new
customer is a expensive proposition.
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It can cost you a lot of money to bring
in new leads.
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Let's say, for example, that we're doing
some type of advertising.
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Maybe we're advertising on Facebook or
we're advertising with videos on YouTube,
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or we're advertising in Google search,
let's say.
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That we're taking a stepbystep process.
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We're generating leads.
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We're then converting those leads into
sales.
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And here's the process that we're doing
on a friend end.
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So we might be spending 3$ per lead.
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That's going to vary wildly based on the
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type of market you're in.
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That's often on the lower end.
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If you sell business to business, you're
probably going to be paying a lot more
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per lead than that.
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But let's say that we're spending on
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average 3$ per lead.
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And so it cost us 3000$ to bring in a
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thousand leads into our business.
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Maybe we offer a 49$ offer on the front
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end. So this isn't the primary product or
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service that we want to sell.
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It's a front end offer that's going to
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generate benefits for our customers.
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And at the same time, it's going to start
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building that relationship with them
where they know, like and trust us for
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other services that we might sell on the
back end.
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So we do a good job on converting those
leads and we sell 5 % of those on a four
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9049 dollar offer that brings in two
thousand four hundred and fifty dollars
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in revenue.
So we've actually lost money at this
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point in time, generating leads, selling
that first product.
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We've now lost money.
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Well, we do an upsell on that product
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immediately after you buy the 49$ product
we give the customer an opportunity to
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buy another product for 99$ And we do a
good job on the upsell and 20 % of the
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buyers end up buying the upsell.
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So that's another 990$ in.
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Revenue so you add those together,
subtract the 3000$ we spent to bring in
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the leads, and we would make 440$ in
gross profit.
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There wouldn't be a lot of expenses on
this because I'm talking about something
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that could be like a digital course, but
there would be some customer support.
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Expenses, there would be some credit card
or PayPal expenses.
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So it's 440$ gross profit, but really not
much of A profit at all.
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What we did in that process is we paid
for the advertising.
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We generated a thousand leads and 50
buyers and about a break even level.
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That is a very successful front end
because that also means that hopefully
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we're able to scale it up.
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And keep similar numbers as we scale up.
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So that's a self liquidating offer.
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But of course the danger here is that
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we're paying up front for all these
leads.
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We're paying 3000$ to generate these
leads and we don't know just how we're
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going to convert.
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Maybe we don't get a 5 % conversion,
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maybe we do lower, maybe we can't convert
20 % of them to the upsell.
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So maybe we actually lose money on the
front end.
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But basically that's a self liquidating
lead process.
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Now let's transition this over to Amazon.
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So in Amazon, we sell a thousand kindle
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books at two dollars and ninety nine
cents on amazon we're going at the lowest
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cost where amazon lets us have seventy
percent of the money so we just mark the
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book at two dollars and ninety nine cents
it could be higher or you could even go
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down at ninety nine cents but you don't
get to keep seventy percent of the money
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in that case so if we sell a thousand
books we would bring in two thousand and
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ninety dollars.
Now, of course, we might have spent some
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of that money advertising on Amazon,
which we'll talk about a little later.
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Or we might have spent some of that in
our time going out on podcast interviews,
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doing podcast interviews or other types
of marketing to sell those books.
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But in most cases, we're going to be able
to keep our risk very low because if
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we're doing Amazon ads, we're going to
see the the sales as they're coming in.
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Day by day, inside the system, if we're
doing podcast interviews, yes, we're
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investing our time.
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And if we make good choices with
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podcasts, we'll talk about that on a
different one of these modules.
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If you make good choices on the podcast,
then you're going to not only generate
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leads immediately, but you'll generate
them over time as well.
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And then we'll convert some of those
buyers.
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Now, Amazon doesn't immediately give us
people's email address just because we
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sold a book to them, but we can put what
we call a content upgrade.
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Inside of the book where you offer
something else, and again, we'll talk
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about this later, maybe some Cheat Sheets
or some videos to go along with it, or
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some other type of bonus that customers
will get.
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If they go over to your red website and
they opt in to your email, list they'll
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get this bonus along with the book.
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Let's say that 10 % of buyers join your
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email, list and you could probably do
better than that as well.
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We can push that up to 1520 % or more of
the buyers with a strong enough.
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Content upgrade. So out of the thousand
books we generated 100 buyer or leads.
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Remember these weren't just free opt ins,
they paid money, they read your book.
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These are high value leads that not only
purchased but they frequently now know
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like and trust you from the book itself.
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And I'll say this, the Amazon lead
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generation, the process that we're
talking about is best when you have.
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Higher ticket or continuity offers to
sell on the back end.
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And that's because we're building a
strong relationship with their customers.
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Because again, they're not just freebie
seekers who joined an email list and get
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a few emails from you.
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They purchased a book from you.
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They they sat down and read information
that you provided on the front end.
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So they're much higher quality leads than
you might generate just from General
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General paid advertising and.
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Using Amazon this way allows us to tap
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into Amazon's credibility.
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Even more than that, having books on
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Amazon can increase your own authority,
your own proof, your own credibility for
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everything else that you sell, and.
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And what other clients have experienced
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and talked about is that you can see a
bump in cells for all of your other
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products and services once you get like
50 plus good reviews on your Amazon book.
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So you get a book up on Amazon and you
get it to about 50 reviews and you might
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even get more than that.
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Maybe you get to 100 or 200 reviews,
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you're going to start seeing your other
products and services sell better because
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of the built in credibility that Amazon
gives you.
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It's independent social proof that you
don't control.
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So it's awesome.
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You know, imagine the difference in value
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of a customer who has heard your name on
an ad versus a customer who read all of
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these great reviews of your book, then
read your book and decided to then opt
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into your list.
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It's a totally different kind of lead, so
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that's what makes this system so
powerful.
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