Hey, it's my wife's birthday today! Amongst planning, prepping, and shopping, I found five cracking golden nuggets. Here they are...
1. FBM EXPERT TIP:
Many people talk about the value of using a funnel vs a website, but this week, funnel expert (and certified accountant) Olga Zavialova sent me the expected Profit and Loss Financial Models of a website vs a funnel for you to see with your own eyes...
"In addition to funnel building, I love to do financial models and analyse business growth and development. Before starting any business, I need to know the bottom line and plan accordingly.
Here is an example of one of my analyses to grow the membership sites and courses for coaching and consulting companies:
A conversion rate of 1-2% is considered good for a website. However, if we build a funnel as a landing page, it makes a big difference not only because it converts 10-20+ times better but also because you help your potential clients through the buying journey to make the best decisions.
This leads to much happier clients, testimonials, good reviews and referrals. It is a win-win situation both for the business owner and the client.
Based on the example above, you need to bring 700 visitors to your website to be break-even vs. only 110 visitors to the funnel. Scaling the right system is the key to business growth!
The above models show 3 different membership examples ($47/month, $197/month, $497/month)...
For you to get 200 clients with a $47/month membership you need to bring 10,000 visitors to your website which generates $81K in Net Profit.
To get 200 clients through funnels, you would only need 1,000 visitors to your funnel. This will generate 96K in Net Profit.
If you bring 10,000 visitors to your funnel, you will generate 2,000 clients with $1M in Net Profit only for the low-tier membership of $47/month.
Where do you want to be?
Scaling your business through funnels and systems works for all industries. Take advantage of it before your competition does.
If you want to discuss how funnels and building membership/courses can change your business, please schedule a strategy session here."
2. MARKETING TIP/ORIGIN STORY OF THE WEEK:
I read an insightful article this week by an individual named Ali in which they detailed tips they learned building an audience of 70k people. It was focused on Twitter, but what they shared could be used for any platform:
"First of all, having an audience is really powerful and worth all the time and effort that you need to acquire it. It is not only going to be a great lead-acquiring channel but also a great place to test all your products and features.
Having said that, try these tips:
1. DM influencers in your niche market, asking for their help. You will be surprised at how many of them are willing to help without expecting anything in return, especially if you are friendly.
2. Use Twitter's paid promotions. It is cheap compared to influencer marketing rates.
3. Use social listening tools to get notifications for tweets that mention certain keywords related to your product, then authentically engage with those people and promote your product. Avoid using bot responses!
4. Follow all influencers in your niche, and engage with their audiences. Avoid direct promotions. Just write a clear bio on your page with a link to your product. People who find you interesting and knowledgeable will open your bio and click on the link. Also, the influencer may notice your valuable engagement and retweet your comments, giving you greater exposure.
5. Use Zapier to post the content across all platforms, increasing your funnel's top surface area.
6. Ask each new user to share with others who might be interested.
7. Content is king! You have to keep posting good content to attract new potential users.
If you consistently implement these tips, within a year, you will have a following that changes your business and your life entirely."
3. TOP TIP FROM A FELLOW COMMUNITY MEMBER:
While discussing urgency tactics, community member Dr Phil Tyler shared some fascinating insights into triggering genuine urgency in your prospect. It involves taking them through 5 simple stages. Here they are:
"I believe that any motivation someone should offer to influence someone's actions should come after four preliminary boxes have been checked.
From the perspective of the actor (the person you are trying to influence), the first step towards the desired action is becoming aware of and identifying the desired action. Normally, the main page headline services this function.
For example, "Don't Build Your Funnels... Hire An Expert To Do It For You".
The actor's next step is a filter to decide whether this proposed action has anything to do with them. Typically, businesses will do this by calling the actor out directly.
For example, "Are you a coach or consultant looking to drive more traffic to your funnel?"
If those two boxes are checked, the actor will want to know more so they can understand why they should do the action. To satisfy this, the main content of the funnel page needs to educate them.
Next, the actor is brought to a point of decision about whether or not they want to take the action. The persuasiveness of the arguments on the page drives this.
If they decide they do, then, and only then, genuine motivational urgency can be effectively applied to move the needle on doing the action. This is when urgency should be triggered, when they already believe they should take the action. NOT AT THE TOP OF THE PAGE.
Finally, they need to believe that they can successfully take this action. This is why it's beneficial to spell out the exact steps to purchasing your product and make the sales process as simple and easy as possible.
Here is a flowchart to help visualize the process:
Integrate this flow into your sales pages and see how much more receptive your prospects become.
4. FUNNEL OF THE WEEK:
I just want to say quickly, the feedback I get about these funnels is incredible. I know a lot of the time we think we're not experts and our opinions aren't valid, but in this scenario, they're the most valid!
Feedback from regular people is priceless when it comes to improving your funnel. If you want me to feature one of yours in an upcoming newsletter, feel free to send it my way.
Until then, the funnel this week is currently converting 6% of all traffic into sales, and 30% of those purchase the upsell. However, what would you suggest to improve that 6%? Is there anything you would add, remove, change, test? Let me know and I'll pass your input along!
5. FOOD FOR THOUGHT:
"Every sale has five basic obstacles: no need, no money, no hurry, no desire, no trust."
— Zig Ziglar
Have a great weekend,
Lee
Happy birthday bear!