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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. The Millennium Formula can help you to start a simple four-stage conversion process. This will get people to buy merchandise on your website and generate revenue. The following stages are outlined by the acrostic B.I.K.E. The process is like gears being shifted on a bicycle.

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 Increases Form decreases, when Traffic is constant.
3. K: When Form increases, Traffic increases, when Content is constant.
4. E: When Form 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 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.

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