The Millennium Formula
  • 25
  • 07

Download My Book The Millennium Formula for FREE

My first business was a bicycle shop in the competitive marketplace of Portland Oregon. Those early experiences promoting my brick and mortar storefront lead me into the world of digital media. Understanding The Millennium Formula helps us to start my simple four-stage Conversion Process that gets people to buy merchandise on your website and support your creative projects. The following stages are outlined by the Acrostic B.I.K.E. Like gears being shifted on a bicycle, the stages get the client interested as the process builds up speed.

 

The Millennium formula

Traffic = Form x Content

Form = Traffic / Content

Traffic = Content x Form

Content = Traffic / Form

  1. B: As Content Increases, Traffic increases, when Form is constant.
  2. I:  As Content IncreasesForm decreases, when Traffic is constant.
  3. K: WhenForm increases, Traffic increases, when Content is constant.
  4. E: WhenForm increases, Content decreases, when Traffic is constant.

 

By using this quick start guide, you can make a digital media campaign by addressing each stage in the B.I.K.E. process. The math explains the relationships between Traffic, Conversion, and Content. All you need to do is identify which products to offer at each specific stage in your Conversion funnel by placing them on the website at exactly the right moment.

 

B – Stage: BASIC PRODUCT (Free)

 

To get the pedals turning, our primary goal is enticing users to interact with your social media. When they are presented with the Basic Product, they are rewarded with a FREE gift by clicking through to your landing page. Your goal is to monitor and track new prospects by getting them to fill out a contact form on your website.

 

I – Stage: INCENTIVE PRODUCT ($10 or less)

 

Turning a prospect into a customer, this first step gets the conversion process rolling. Your product should have a high-perceived value. It should be useful but incomplete, and relatively inexpensive compared with other similar products. The buy-cycle starts off in low gear by creating enthusiasm and building excitement.

 

K – Stage: KEYSTONE PRODUCT ($50-$500)

 

This core product should be the bread and butter of your business and the driving force behind your entire content marketing plan. Variations can be bundled into groups. Each bundle adds additional features as pricing increases correspond with enhancements. Their buy-cycle speeds up as they begin changing gears.

 

E – Stage: ENHANCEMENT PRODUCT ($100-$1000)

 

This is your opportunity to sell accessories that complete the Central Product, including upgrades that enhance the experience of the consumer. When the Keystone Product is incomplete, you are positioned to offer accessories that enhance brand value. In many cases, the psychological desire to save money and get a better deal is irresistible. Now your buy-cycle kicks into high gear.

 

Four Business Goals

  1. Identify your Keystone products, and find a niche market.
  2. Research your competition and target your ideal customer.
  3. Determine pricing based on supply and demand.
  4. Use the Buy-Cycle or B.I.K.E. to make a digital media plan.

 

Click Here to Download The Millennium Formula for FREE

 

More News
  • 24 Jul 2019
  • 0
  The conversion process has been designed to push prospects further along until they purchase a product. As they progress through each stage, we encourage...
  • 27 Jul 2019
  • 0
In the world of digital media there is a relationship between the elements on a website. Firstly, there is the content on the page, which...
  • 25 Jul 2019
  • 0
Download My Book The Millennium Formula for FREE My first business was a bicycle shop in the competitive marketplace of Portland Oregon. Those early experiences...