Although this is probably the one that most people think the businesses want. I think this is the hardest one for new businesses to wrap their head around.
This is a sales funnel, heavily focused on sales, exclusively. This is also revenue and what we call LTV or specifically density is a word for customer transactions.
How often does that single person buy? How often do people buy products? How often do people buy that product and what is that average sale value?
If you can increase all four of those, ideally. You can double the size of your business by actually just increasing each one by 25%. That’s really roughly the math.
This thing helps sales. It helps with what we call transaction density. Of course, it’s a revenue generator.
Who benefits from this the most?
People who benefit from this already got products. They already have a product line.
This is not necessarily for businesses that have just got one service or one product. The reason you can get product ideas from the list builder is that let’s say that 5% of people are interested in how to make the perfect espresso.
There’s no reason why this business wouldn’t be able to source a load of white-label, espresso machine stuff, package it up and sell it for 20 bucks or a hundred bucks or 300 bucks or whatever it is.
That’s why it gives you product ideas.
If they don’t have a product line, it’s going to be very difficult to build a faster sales process, because if they’re only relying on a $5,000 product, there’s nothing I can do necessarily with this particular model to help increase that.
If, however, they say, “Actually we’d be open to the idea of doing a $197 and a $19 product, like a book or, some training or some software or free access or whatever, then that’s very different, but they have to be open to it or better yet have a product line already.
They need to be generating leads. Ideally, they’re actually already doing something like this, and again, you might be thinking, “If they’re generating leads, what’s the problem?”
I guarantee you, there are businesses out there who are generating leads every single day, building a huge email list, and not doing anything with them.
We know this to be true. Who here has got an opt-in form that says sign up for our newsletter on your website, and then you’re not doing anything with them.
You’ve got a product line as well, partly because I’m showing you three products here, but you could do email marketing, social media, marketing, whatever, everything in between.
You’ve got a product suite, product menagerie. But you’re not doing anything with those leads that you generate.
I don’t believe it’s a marketer’s job to get sales. It’s about getting leads, then it’s up to them.
Completely disagree with your Mallory. That’s 100% incorrect. It is absolutely your job to generate sales. 100%.
Marketing’s job is to make sales irrelevant by generating revenue for the business. If you just want to focus on generating leads, there’s nothing wrong with that, whatsoever.
If you want to just generate leads for customers. Great. That’s awesome.
If you want to just generate an audience, great, that’s 100% fine, but a marketer’s job is to help people know that I can trust them.
To that point, they ended up generating a sale. The sales process is very different. I completely agree with you on that.
If you just want to generate leads for people, that’s absolutely fine, but a marketer’s job can absolutely categorically help people generate sales.
I’ll tell you sure as shit that if you showed this to a salesperson, they start sweating. They go, “Fuck. What’s the point in my role anymore.”
It sure as hell isn’t going to be a salesperson generating this.
A marketer in this funnel is going to have to come up with a copy. They’re going to have to come up with an offer. They’re going to have to come up with messaging.
They’re going to have to make sure that the branding is consistent. They’re gonna have to make sure that the customer experience is all great and much, much more.
That entire process is getting people to know and trust both the person that’s in the customer and the product.
It’s not enough to just say we’re just going to generate leads and leave it at that.
If your business is just lead generation great, but marketers should absolutely be generating sales.
In fact, the number one bugbear I have is marketers thinking they’re above sales.
You could have 20 million leads, but as soon as the bank comes knocking and says, I need you to pay the mortgage. You go, oh, we’ve got 20 million leads. I don’t care.
Profit is the number one goal. All businesses’ number one goal is to make revenue and profit.
The number one goal of all entrepreneurs is to raise capital. That’s it.
If you believe that your best placement is like your skillset, and that’s nothing wrong with your skillset, just being in lead generation. Absolutely fine.
But to say that marketing is either above or outside of sales is completely incorrect and a massive perversion of everything that marketing has been working so hard to achieve.
But if you’ve got content and stuff saying, otherwise, I’d gladly check it out.
So, who? They need to be generating leads already. Essentially, it’s the same thing. They want to be converting traffic.
You might find that you’ve got people with an advertising campaign who are already generating leads.
They might even have an advertising campaign that’s making sales, but at some point you want to see them to be converting traffic.
At some point, we want to see them converting people who don’t know that they exist into someone who going, I trust you a little bit here and I want to learn more about it.
If you’ve got this, these are the types of people that can generate from this type of product funnel or this type of funnel.
Ideally, as well, if they’ve got an audience that helps as well, but that’s not massively necessary.
What are the benefits?
The biggest one is free advertising, and I’m going to show you how.
If you could tell your customers, how much do you spend a month or a day on advertising? This hour, we spend 10 grand a month on advertising thousand dollars a month on advertising, whatever a thousand dollars a day on advertising. It doesn’t matter.
You say, what if I could make that free for you? What if I can make advertising free? What?
Yep. For every thousand dollars you put in, you get a thousand out minimum.
That’s a really compelling offer. I’m not talking about sales funnels, not talking about marketing automation or talking about tools, not talking about messenger chatbots.
How much do you spend on advertising thousand dollars a day. What if I could turn that into a thousand dollars a day?
What if I could help you generate leads at cost? What if you could generate sales at cost?
The cost of acquisition, CPA, cost per acquisition is the number one metric that all businesses need to be looking at outside of profit or revenue cash flow.
CPA is a big one.
You ask a customer, how much do you pay per customer? They probably won’t know, if they do know, you can help lower that cost per acquisition.
You can help lower CPA and to an extent cost per lead. But that’s slightly harder to work out.
Those two there, businesses are going to be salivating over.
Fuck. You can really do that?
Yes.
I want to show you how it’s not quick, but it is possible.
We’ve talked earlier about density. You can increase the lifetime value of a customer or what we call transaction density.
I wouldn’t use the term transaction density too much unless they’re an e-commerce store because e-commerce will know what a transaction density is.
What if they bought sooner? What if I could get more people to buy from you sooner?
For most people as a rule of thumb, this is from Google’s data, zero-day of truth. Most people take about 90 days to buy and they’ll take eight interactions and four hours’ worth of content.
That’s a lot. What if we could eliminate that and skip that?
This is possible.
The Flow
Here’s the flow for this. If someone opts-in and a business are currently generating leads. There’s a part where the customer says, yeah, I want to sign up. I’m interested in this lead magnet. I’m interested in this piece of content. I’m interested in signing up.
Now, you will be first of all, added to that email list. Here’s where this is, where are we going to do this differently?
Most people will create a little thank-you box there that says, thank you. Your email is on its way and they’ll keep them on the page.
Let’s say that this is website.com/freebie. They’ll opt-in and a little message will come up saying, thank you so much for your opt-in.
Thank you so much for your message. Thank you so much. We’ll be getting back to you.
That’s the first thing people do, which is wrong.
The next thing that people do, which is wrong is redirect them straight away to the PDF.
We think that if we send someone to the PDF, they’ll be happy. Makes sense. You say, Hey, here’s the PDF guide, they go great again, wrong.
What we’re going to do is we’re going to redirect them to a thank you page. The thank-you page is without a doubt, the most underutilized, but valuable page in the marketer’s arsenal.
We say a few things, first of all, we acknowledge. We say, Hey, I know that you’ve just entered your email address. You took a risk, we’ve got that. We’ve got your email address, and this is just tiny lettering up the top.
I totally understand. Thanks so much, great. We’ve got this. Your email is on its way to the email address you gave us, make sure to check your spam folder.
The next thing we do is we offer bonus training. We say we’ve got this really short video click play below. Watch this video here because I want to teach you.
Let’s say that they’ve said, I want to find out the best way to meet espresso.
I’m going to show you. I’ve got some bonus training on how to source the cheapest, most ethical ingredients and how to make barista-quality coffee at home. Even if you don’t have a full-sized barista machine. It’s a bonus training.
What that video is a sales letter or more specifically, a VSL. Is a video sales letter selling one of the lower ticket products?
You ended up dialing this in and you end up essentially playing around with the messaging. It’s not going to work. It does sometimes work straight away, depending on whose formula it is.
In terms of conversion rates, let’s say from this page you get a 40% conversion rate and you got a 5% conversion rate from this opt-in. Hundred people and a hundred people here you’ve had 45 go through.
This might convert anywhere between one and 3%. She’d need, a hundred people to make one to three sales.
The customer is never more likely to buy when the offer is put in front of them.
If I say to you, I want to show you how to create great coffee or the best way to make espresso. Your interest in making espresso is highest, then a lot of people go, yeah, I’m going to let you think about it.
I want to make sure that if someone’s interested in this, there’s obviously enough of a pain point where they thought I need to fix this. I really want to fix this. I’m going to put in my email address.
Then, for me to say, I’ve got some bonus training and I’ve got another product that can help you.
I’m not forcing you to take it, but I am saying there’s an extra product here that can help you.
This here, these sales, the one to three sales per hundred people, roughly speaking. That equates to what? 60 bucks.
If it’s a $20 product up for about $50 sales. So that could be as much as 150.
You now know that you generate roughly $150 for every hundred people that optin.
Roughly a 45% conversion rate. That means that you have every 220 people roughly is worth $150.
You dial it in. Obviously, you’ve got to test it. It’s not straight away, but this does work.
This system here works for the sake of implementing a thank you page for our customers, and especially for insurance agents, furniture, sales info-products courses, coaching, sports training, sports equipment bag launches, like holdall sack bag launches.
This here has basically eliminated their advertising costs because they’re able to put every single dollar from this sale here, back into advertising because they know that the next sale that they made is going to be where the profit is.
Deepak, interesting question. Let me know, Deepak, what do you think a high ticket product is?
Tell me what a high ticket product. What’s a range for a high ticket product, because this is one of the biggest, and I’ve perpetuated this and I, I shouldn’t, I’ve done this.
The method and degenerating what a high ticket sale is no different from generating a low ticket sale. It just takes more time so people think it will only work longer. It’ll only work with the short-term sales.
Is high ticket, five grand, 10 grand, 80 grand, 450,000, 1.6 million. 1.6 million was the single largest sale that we ever made at our agency. Which take over a what do you guys call it like timeshare?
We don’t really have it in the UK. That was pretty much generated through this system. $1.6 million.
The reason why we were able to generate this is absolutely due to the sales team, which was us, but we had to take them through this process.
At some point we had to say, great, look, if you want us to take care of your email, absolutely fine, it’s 25 grand, whatever.
But you can absolutely level this up. And there are guys out there who are leveling this up for hundreds of thousands of dollars, exact same process,.
Because after someone buys this product they go, yeah, I want to buy it. They go to the checkout page. They enter in their details after they buy that.
First of all, there’ll be an order bump here. I’ll also increase it, which is why we call it transaction density. Then, I’ll redirect them immediately to an even larger ticket.
Let’s say that this is 20 bucks. This one will then be 200. Now I personally don’t do the whole upsell up.
And some of the guys out there with info products and the launches, do 10 upsell pages. And it’s crazy. I’m sure it converts, but I don’t think it creates long-term customers personally.
But this process of doing one episode, a second upsell, essentially, Jerry’s the revenue to pay for the rest of your stuff.
I would build this into my proposals, I would say, yeah, here’s a twenty-five grand proposal, but if you want to, we have a hundred thousand dollar process that will take you even further.
Always use the thank you page. Give the link to the PDF.
Always use a thank you page 100%. Give the link to the PDF and then add another offer.
No link. The link is sent by email.
We redirected them to a thank you page. We say, thank you so much, your PDF, your download, your training, software, whatever it is being sent to your email address.
I’m going to show you guys and you can get behind the scenes. I’m going to show you my thank you page that converts about 2%.
Here we go. Thank you so much for downloading your 49 Niche Examples are on the way to your inbox right now.
Click the play button watch the bonus training below. Then the three-step weird method shows fast crop, profitable niche other funnel builders have ignored.
This is then basically bonus training that then ends up with a sales letter.
Now, I’m not saying that this is going to be something you’re gonna do immediately from the get-go.
I’m not saying it’s going to be something that you’re going to be able to create overnight, but your customers, if they have a product line for the sake of putting an offer in front of someone, who’s just become a lead.
I don’t know why we have this aversion to sales. It’s a universal thing where people are like oh, like I don’t really want to make a sale. Someone’s just opted in. I don’t want to make a sale
Bullshit. This is the equivalent of you going to the doctor saying, look, I’ve got these symptoms. This is where it hurts and going, great. We can fix this.
Did you also know that you have a stomach ulcer or whatever, and you’re going, here’s a further prescription? It’s a bad analogy because I think we overprescribed.
But imagine if the doctor knew that there was something else they could help with. There’s the really old adage where the guy starts work for a sporting goods store.
It’s is a friend of a friend and he’s a bit of a bum, but the guy said the owner of the sports store says, “Yeah, you can come and work for me for a day.”
” It is, it’s a commission-based business so make sure that every sale you make and that’s what you’re going to be taking home.”
Eight hours rolls pass, the boss, goes up to the guy and says, “How many sales have you made today? “
The guy says, “Just the one.”
“It was just one sale? Geez?
” Yeah. I managed to sell a huge yacht.”
“You sold the huge fishing yacht over there, the $250,000 fishing yacht?”
” Yeah.”
“How the hell do you do that?”
The guy came in and said, “Look, I’m looking for some fishing rolls.”
The guy was like, Yeah, fishing rolls was like 50 cents so I took him over to the fishing rolls.
I said, “Look, if you’re looking for new fishing rolls what are you fishing for? He says, we’re going to go out the bay.”
“We’re going to try and hunt some Marlin.”
Do you have a Marlin rod?
No, we don’t. I need a new rod.
I took him over to the rods.
When we were at the rods, I said, “How many guys do you go in with?
Is it always going to be a group of us four or five years.
But you can be able to keep all your stuff cool if you catch one of those, Marlin.
Have you got like a net? So, I sold them a net and then I sold them a cool box before we knew it I’d up-sold and up sold. I sold them a net and then I sold them a cool box before we knew it I’d up sold them the yacht.
I guarantee the guy who bought the yacht was over the moon that someone came along and sold him.
If there’s one thing worse than a salesperson pestering you it’s that there’s no salesperson coming up whatsoever.
This process here says to the people, I completely understand. Thank you so much for downloading your free thing. It’s being sent.
Sending that email is via Active Campaign. There are loads that do that. MailChimp can do it.
Yeah. The automation thing, they send the email, but you give them bonus training, which is essentially a video sales letter saying.
I want to give you this product.
It’s not designed to be profitable. It’s designed to pay for the cost of acquisition in the first place.
You could just build that. Just the thank you page. We had a really tight system for selling that.
I’m telling you it basically it asked me to continue advertising at scale.
