I remember back in the day when I was working at the Source (Radio Shack) for $8.00 per hour. It was honestly one of those jobs that was just fun. It was good vibes with my Co-Workers who are still friends till this day. We all had dreams of doing something cool with our lives.
During this time I was living with my family in part of the hood in Saskatoon. It was on Ave T South just off of 20th street. Now when I go and drive back in that area years later to check out where I started this journey, I don’t feel fully safe there.
When I lived there though I felt like it was home.
Somehow we would find ourselves at the Dakota Dunes Casino just 40 mins south of Saskatoon. We would find a way to make $10-$20 budget last a full night.
We would bet on $0.01 machines and do 10 lines where each bet was only $0.10 per bet and hope we hit a bonus to double up our initial budget. This was a game of hope, prayers, and crossing fingers.
I would never win but my wife would always figure out a way to hit and make like $100.00 out of $10-20 budgets. This would ensure we can stay and enjoy ourselves.
During this time I was really learning digital online marketing.
One time at a conference a speaker talked about a method called – The Magic Slot Machine
He said imagine a space where when you put $1.00 in and you get $1.20 out or $2.00 back or $5.00 back. Every single time you put $1.00 in you get returns.
How many times would you put a new $1.00 bill in this magic slot machine.
A slot machine that continues to pay you in profits over and over again.
He explained this can be done with proper marketing and a good offer. Basically the concept is to find a winning offer that you can advertise $1.00 and make $1.20 back.
He said even if you are making just $1.01 for every $1.00 you put in, you are still winning in this Magic Slot Machine method.
So I tried it Myself and Here is What I Got
Now that is a lot of money to put into a slot machine. Remember this is just a metaphor, but this is how much I paid in advertising for one of my digital products online.
Why would someone put that much money into advertising?
Well it only make sense if you are making more in return for the amount spent.
So the return for the $8,473.33 ad spend was $13,030.00 is $4,286.67 in profits.
That is 1.49 back every time we put in $1.00. This is a magic slot machine where you put in your initial budget and get it back plus profits.
Now to make this better, there’s different ways to go about it.
You can add and upsell offer or downsell offer. You can improve the advertising and get a better clickthrough rate or better opt in conversion rate for leads.
The goal is to keep improving so that $1.00 can turn into $2.00 or $5.00 or $10.00
Finding that great offer that matches the audience you are going after is key to the Magic Slot Machine method.
Visit https://patrickmitsuing.com for more cool strategies like this.
