It's Friday again! I hope you've had a productive week. Quick question... how is your traffic right now?
If it's not where you want it to be, I'm hosting a webinar with marketing expert Quentin Hunter next Wednesday (5th July) in which he is going to show you several secrets to tapping into your competitors' traffic. And, he's looking for a volunteer to walk through this with live!
If you would like to be the one Quentin works his magic on, enter your details here.
And make sure to save your spot for the webinar here.
Once you've done that, dive into these 5 nuggets I found for you this week...
1. FBM EXPERT TIP:
This week, marketing expert Tanya Wolfaardt joined me for a webinar in which she covered the key steps to creating an automated marketing system.
One of my key takeaways from the event was the power of putting in the time to design and build an effective marketing automation process.
In the past, I know I've fallen into the trap of building a funnel, showcasing my product, and rushing to run ads to it. I was so excited to get things moving that I went with whatever marketing idea I had in my head.
Naturally, because I wasn't a marketing expert with years of experience creating winning campaigns, my efforts typically didn't work.
In Tanya's webinar, she goes through the process of building these pieces and using the latest tools to make it not only quick but very effective.
2. MARKETING TIP/ORIGIN STORY OF THE WEEK:
On the topic of good marketing... In order to sell your product, you need to be able to influence customer behaviour. If you're struggling to get sales, try tapping into these 3 little-known cognitive biases and watch what happens...
1. The "Mere Exposure Effect"
Psychologist Robert Zajonc's studies showed that when customers become familiar with a brand or product, they naturally develop a preference for them.
How can you trigger this bias? Run retargeting ads. The more familiar your customer is with you, the more they will naturally like you, meaning they're more likely to buy your product.
2. The "Ben Franklin Effect"
Research in the Journal of Personality and Social Psychology has uncovered this psychological phenomenon which asserts that people who do you a favour are likely to do another, as they perceive the initial favour as an indication they like you.
How can you trigger this bias? Ask your customers for small favours like filling out a survey, trialling your product, or giving you advice.
3. The "IKEA Effect"
Studies at Harvard, Yale, and Duke discovered that customers place a higher value on products they have partially created.
Betty Crocker utilized this phenomenon when they changed their pancake mix recipe from completely ready made, to requiring an egg from the customer. This small customer involvement led to a significant increase in sales due to the heightened sense of achievement and ownership.
How can you trigger this bias? For online products, in your product onboarding, have customers answer questions to personalise their experience. For physical products, allow them to customise the product before purchasing.
3. TOP TIP FROM A FELLOW COMMUNITY MEMBER:
Carl Parnell has generated over $2.2M in his business and shared some of the key takeaways he has figured out along the way. I hope they are useful for you, even if it’s just one small nugget:
1. Hire when it hurts - this is rule number one as you can’t ever truly transcend when being a one man band.
The key here is to actually do the things in your business first, successfully and consistently until you know there is a proven process and system in place to teach someone else how to do what you do.
Many make the other mistake of hiring help too early when you’re not even sure exactly what they should be doing.
Do it well yourself first, then bucket all your tasks into time consumption, how critical they are to cash flow and of those tasks can you outsource to allow you to focus on the critical parts to increase revenue.
2. Pick a marketing strategy and stick with it until it works.
There are multiple ways to sell and get clients. Paid, organic, FB, TikTok, YouTube etc etc. everything works but when you don’t yield results right away don’t be tempted to keep switching strategies all the time because you saw someone else crushing it with IG reels and want to have a go.
Pick one and master it.
Only when you’re consistently seeing results with that one thing should you test supplemental marketing strategies.
3. Rest. Actually this is priority number 1.
None of this “hustle and grind” mentality please, do not over work yourself. You might handle it in the short term but it WILL catch up with you.
Again, from experience if you’re making yourself sick by working too hard, you’ll spend longer not being able to work as a result of this.
Allocate set breaks and dedicate your evenings and two FULL days off from your business each week. These must be non negotiable. When the evening hits I try to be as strict as possible and my phone usually goes into flight mode.
4. When not resting, be willing to sacrifice the detrimental for the better good.
When you’re refreshed and ready to get after it, identify external forces that could be harming your progress and do what you need to do to handle it.
Toxic relationships or friends that you know are holding you back need to be removed. Limit contact, make your boundaries clear and be the example you want them to follow. If they support you then keep them close. If they don’t, it’s bye Felicia.
5. Don’t get lost in comparison City.
Don’t compare everyone else’s progress and results to yours.
Stay in your lane, be proud of your work and the good times will follow. If you feel like you’re behind other people? You’re not. We all tread the same path but our destination is always unique to us.
Enjoy the process and simply be inspired by others only
4. FUNNEL OF THE WEEK:
While the landing page this week is no longer in use, when it was, it helped this funnel generate over $11,000,000.
The majority of that is obviously due to the marketing, but the page still has to pull its weight and is a fantastic example of branding, messaging, and design.
Check it out and let me know what you think here.
5. FOOD FOR THOUGHT:
“Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.”
— Thomas Edison
Have a great weekend,
Nashville's 4th July 'Let
Freedom Sing' concert
next week and my pal
Langhorn Slim is
performing! What are