Hey, I hope this email finds you well! I've searched far and wide for 5 golden nuggets just for you. Here they are:
1. FBM EXPERT TIP:
What is the #1 funnel that our top funnel expert recommends?
Most new entrepreneurs and business owners start with a low-ticket tripwire and then try to upsell customers their main product.
This works great if the traffic coming to your page is hot, but if it's warm or cold traffic, the conversion rates can be terrible.
Chatting with James Hughes Wednesday, he said that the #1 funnel he recommends is the application funnel.
Application funnels are perfect for new business owners and entrepreneurs who don't have a hot list or recognised brand because, in this phase, it's not the price that affects your conversion rate, it's that the customers don't know who you are. Getting someone on the phone and talking to you creates trust incredibly quickly, and when done right, the customer actually sells you on why they should be part of your program. This increases conversion rates dramatically and allows you to sell a higher-ticket product, which gives you a much healthier profit margin. You also require far fewer customers, meaning you can focus on discovering exactly what your market needs and creating a truly great product. James and I did a webinar where he broke down the ideal funnel structure for this here.
If you're looking to ride the new year wave of buyers, reach out to James here asap.
2. MARKETING TIP OF THE WEEK:
Have you given any consideration to the identity your funnel and ads evoke?
I read yesterday that between 1925-1955, Marlboro was a cigarette brand marketed to women with the slogan “Mild as May”.
The problem was, during that time, only 18-30% of total cigarette sales were to women.
In order to break into the male market, Marlboro called in advertising expert Leo Burnett with the aim of relaunching the product as a mainstream man’s cigarette.
Burnett's solution was simple. He wanted to shift the identity smoking a Marlboro evoked into pure masculinity. Burnett believed the ultimate icon of masculinity was the cowboy, and thus 'the Marlboro man' was born.
According to Kenneth Roman (the former CEO of Ogilvy & Mather), "The use of the Marlboro Man campaign had very significant and immediate effects on sales. In 1955, when the Marlboro Man campaign was started, sales were at $5 billion. By 1957, sales were at $20 billion, representing a 300% increase within two years."
What I found even more startling was that, before the Marlboro man ads, 1 out of every 400 cigarettes sold were Marlboro...
...by 1994, 3 out of every 10 cigarettes sold were Marlboro and Marlboro was ranked as one of the most valuable brands in the world.
What identity do your funnel and ads evoke?
3. TOP TIP FROM A FELLOW COMMUNITY MEMBER:
In a conversation yesterday with Seth Wright (the man who keeps the marketplace running), he said something that gave me a lot of clarity for both business and marketing. So, I knew I had to share with y'all today...
"Having the right people is everything. We do it in the wrestling room all the time. The season starts, and 50 kids show up. Unfortunately, 20 of them don't want to be there and the initial goal is to
find the 30 that really do want to be there and work hard every day.
Business is no different. This is why Elon Musk is making everyone from Twitter go back to the office. People think he's mean and insensitive. But they don't know what he's trying to do at Twitter. He's flushing out all the people who aren't committed. If you're an Elon guy, you'll get your butt back to the office. He wants Elon guys working for Twitter because Elon guys will buy into his process. If 50% of his employees don't buy into it, he won't be successful."
If you run your own team, the message is clear, building a more committed team will deliver you better results. But it also applies to your marketing...
If your conversion rates are poor, it's likely because the people who are coming to your page aren't really that committed, right?
So, what could you say in your initial messaging so it only calls out to those who are super committed? Have a think, and I'll give you a powerful formula next week.
4. FUNNEL OF THE WEEK:
This week's funnel is a classic! Such a classic that I couldn't actually find a live site (the link will bring up an image). Why bother if it isn't live anymore? Because this is known as one of the most profitable funnels created and can easily be transformed into an opt-in page.
Check it out here.
5. FOOD FOR THOUGHT:
“What would you do if you knew you could not fail?” — Eleanor Roosevelt
Always in your corner,
Lee
Only 9 days until Christmas!