OCTOBER LATE NIGHT BIZ RECAP
Nov 19, 2017
Late Night Biz Recap
OCTOBER IN THE KINGDOM WAS SEISMIC! We executed an amazing Wealth Camp with GOOGLE, and I fulfilled a dream! A dream to create an environment where Entrepreneurs interactively create functioning, scalable business systems and ultimately improve their lives. Google endowed the freedom and access to conduct MY event MY way, and I couldn't be more grateful! Our Campers were keyed in and engaged, and our peerless instructors blessed with us with gems, nuggets and jewels, while Google gave us the loot...literally!
I murderlized Wealth Camp, but still laced ya'll with Late Night Biz pearls throughout October. If you missed any of the scopes, you already know I got cha back!
At the top of the month I shared "Why I Dropped 5600 People From My Email List". The reasons I shared were...
- They're unresponsive after 10 cycles of attempted email communication/sending content
- It costs money to host/maintain data and segment. A dead list of people isn't cost effective
- It hurts domain reputation and SEO, which will result in spam being attached to your domain
- They are on all the free mailing lists, but none of the paid ones
In this broadcast, I also informed you all how you can reconnect with dormant subscribers/followers with 3 types of engagement campaigns.
#1. Polite Method - "We Miss You"
Send an email to unresponsive followers somewhere in the vein of "I miss you, where are you? What have I done?"
#2. Direct Method
With phrasing such as, "Hey, I sent you several emails and haven't heard back from you. Please unsubscribe if you are uninterested in our products/services or receiving our emails".
#3. Inquisitive Method - "Nosey Rosey"
Ask either of these that apply.
"Why are you leaving?"
"Are you uninterested in our content?"
"How can we improve?"
"Are these emails no longer valuable to you?"
"Are you receiving too many emails?"
I then provided tips to improve your open rates.
Email at least once a month, if you don't, people will forget who you are.
Use an API Key tool to verify email addresses before you do a blast. API's will run through to verify email validation.
Good subject lines
Keep your subject lines at 5 words or less, 7 words MAX!
Subject lines examples...
1. 10 Surprising Things You Didn't Know About___
2. 7 Ways To Increase Your___
Only certain recipients need certain info. Don't email ALL your content to your entire list, SEGMENT! Keep emails relatable to each specific list. It will mitigate unsubscriptions and maintain a happy audience
* My recommended email verification systems:
Email List Verify
I aired "How To Create Digital Products That Sell" and explained that a digital product is nothing more than taking your passion and information and packaging it.
Digital products fall into 3 formats.
To create digital products that sell...
- Find out what niche your product is for. Don't waste time marketing to an audience that doesn't care or use your product/service
After you find a niche, you must then dissect the sub niche or micro niche.
You must know your demographics and how to break down your niches/subniches
Research other publishers in your niche
Just because someone else has a similar product, doesn't mean you can't do it
- Know what makes people seek out your products/services
Understand what changes people want to see after using your product.
Why do they want your product?
What will the product/service help them do?
- Know the audience's pain point or desired outcome
Look at your audience size
How many people want it?
Where are these people and how can I project the right amount of content to my audience?
You can use Canva and Word, then save as a PDF to create content and offer Ebooks, Guides, Worksheets, Swipefiles, Video Presentations, Modules, Audio, Podcasts, Audiobooks, Narration for distribution of your materials.
*Tools I recommend:
Next, I gave you Part 2 of "How To Create Digital Products That Sell",
and uncovered a great way to make money through...
- Participating in Forums/Groups
- Doing things that other service providers don't
- Offering payment plans
- Going to comment boards to view complaints
- Developing/viewing surveys and polls for useful critiques
- Research government sites for income levels and zip codes
Once you've researched and collected data, create the product!
- Turn your streams into workbooks
- Leverage someone else's expertise
- Create a slide deck and narrate it
- Have someone record you as you provide instruction, as a "how to" video
- Use Powerpoint, Word, Adobe to source and Hightail, Google Drive and Dropbox to store
*Remember, digital products are nothing more than figuring out creative ways to package information.
After you've created your product, set up an automated sales funnel. Use Google to host your content and good ole' Paypal for payment processing.
You'll also need a payment processor awareness funnel. Place your product link into an email auto responder. You can set your product to be delivered through your email auto responder.
Get a Google Business account with a domain on your inbox for $5. Create your product and put it in Google Drive. Go into your email account and through your list to create a welcome email. Then create an email with your product. Lastly, email offers about your upcoming product/service.
Launch or announce your product 30-60 days out, as you must create interest before trying to sell anything.
As I've reminded you all many times, most people must be exposed to something 7 to 14 times before they feel comfortable purchasing.
Create content around the product that you're looking to sell, for a week, creating valuable content that is useful for your followers. Market on your social media pages and always include a call to action(CTA), by telling them to go to the link in your bio.
*Use an influencer to generate interest and make sales
*Circulate a Solo Ad to invite the audience to a live event, then make an offer
In the scope, "Start With What You Have - Small Investment Big Return", I challenged you all to...
Calculate the time you spend perusing and socializing on social media, then add up all the money you're spending on entertainment and eating out(anything unrelated to work). Take the total and divide it by 4.
Commit to cooking at home or bringing your lunch for a week. The 25% extra cash you have, and 25% extra time you get, should be applied to your business. If you can't complete a full week, by all means do a weekend. But you still need balance and enjoyment, so don't overcommit by setting unrealistic goals. Again, ONLY take a quarter!
If you are prudent within the week, you should have an extra $50 to $150, and an additional 4 - 6 hours to play with. With your newfound time and money, hire a VA. Assign them to respond to basic FAQ's, inquiries, DM's, comment on social media, etc. And if you haven't already, create a landing page and make an offer.
Between work, give yourself an hour of free time and live in the moment. Set a timer and enjoy your favorite tv show or listen to music. When the timer is up, go back to your task. Whatever extracurricular activity you didn't complete, continue it the next day.
I also told you how to set up a targeted audience and create carousel ads...
Start with $15 in Ad spend on Facebook ads. The money will be used in Power Editor and/or Ads Manager. We do $5/day because we must test our audience and clicks. If it resonates with your audience, you should see a sale within 2 days. In fact, you MUST sell something within the 1st 2 days. For some, it may take 4 to 5 days, due to it being a $5/day ad. Typically, you want to sell a product before you reach $20 in Ad spend. The $5/day should generate enough traffic, of people that want your products/services. If you run a $5/day ad for 4 days, without a sale, eliminate it! However, most will have a sale within 2 days or at least new accounts. For every 6 people that create an account in cold traffic, you will get a buy. If by the 2nd or 3rd day, you have a good audience and are making sales, take the money used on Ad spend and double it. This way, you'll be able to generate more sales. This is the beginning of the scaling process.
You also want to load your IG with strong content. Find the pages that have the eyes and ears of your target audience and run a sponsored post on those pages. Price their ad first. Remember, we only have $50 to $150 a day, so find people with up to 750K followers. Most will have sponsored post space available for $50 and under.
At the end of the day, it's about using your resources and whatever you have at your disposal. Spend the money getting your digital products/files up to par and utilize the channels that will garner the audience you need. When considering the value and projected income of the goods and services, go ahead and make the investment. Not everything can be DIY, sometimes you NEED additional professional support. It will save you a headache, enable better product quality and user/customer experience.
I then aired "The Customer Is NOT Always Right!" and informed you all that...
A quarter of small business owners and Entrepreneurs quit because they find dealing with people too challenging, and because they also fed into the belief that the customer is always right.
Businesses and customers need one another, it's a mutually beneficial relationship. You can't have one without the other.
You should maintain excellent customer service and it's ok to go above and beyond for some, but there are other customers/clients that need to be fired or not taken on as clients to begin with. Not everyone will be a good fit for you.
Reasons you should NOT follow the model that the customer is always right.
It makes your team members unhappy
It costs almost 3 times more to train a new team member, than to maintain an existing employee
Some people are just plain abusive
There are individuals that completely take advantage of 'the customer is always right' policy. They are called professional "beaters" and professional hustlers. These are the people that download your digital product, then file a dispute with the bank after they already got your content. Then there are people that come to your place of business and purchase an item, use it all over the place, then attempt to return it by claiming it didn't work well.
You're a small business and have limited resources...limited time, supplies, etc.
Because you're the expert and the captain of the ship.
It's fine to correct a customer and educate them on what a product/service entails or the steps it takes to create it, etc.
Bad customers create bad experiences for other customers
Bad customers will run other customers away, especially in hospitality and retail. It's vital to protect your client and customer base.
The customer/client is NOT right when...
1. They're negative
2. They are unreasonable
3. They waste your time
4. They pay their bills late, especially after you've rendered services
or allow customers to pay on Net 30 terms
5. When they don't value your product/service
6. They're insatiable! They are unhappy and unable to satisfy,
no matter the circumstance
7. They don't respect your time or anyone else's
To alleviate issues such as these, research your customer to make sure they are indeed your archetype, and that they can afford your services. Also, pricing appropriately allows you to weed out undesirable customers and keep them from rolling into your space. Finally, always set boundaries and hold people accountable!
I went on to tell you guys that "Being Yourself In Business Is The Key To Having It All". I revealed that I was once afraid to be myself.
When I began building my business and brand, there wasn't a model for me to follow. I had to figure this out on my own and make it all work. A few years ago, I'd spent thousands in Ad spend on content that wasn't resonating with my audience. I had gone through several templates I acquired from a seminar, that were supposed to be high converting. But because the content wasn't authentic to my audience, I was experiencing my lowest conversion in 4 years. I realized what works for someone else, won't necessarily work for me, or YOU for that matter! You must be yourself to know what appeals to your audience. When you're original, you'll always be a step ahead. It will increase conversion, customer loyalty, and brand recognition. Besides, being yourself is just plain awesome!
If 80-85% of people like you, you are doing well. Ofcourse negative people make the most noise, but the biggest supporters are oftentimes quiet. Don't allow negative people to deter you or make you conform. You can't please everyone and there will always be someone unhappy with you as an individual or some aspect of your business. But you must remain professional.
Good energy yields productivity, prosperity, likeability, personal contentment, and clients that are on the same positive wavelength.
And it doesn't hurt to throw in a gratitude chant or two. A chant a day keeps the stress away!
When I aired "New IG Features & 5 Ways To Make The Most Of Them", I expressed that...
You should select the social media platform that you gravitate towards but most importantly, the one that has your audience. However, it's advantageous to have an Instagram account because people are 10 times more likely to engage with you on IG than Twitter, and 4 times more than on Facebook.
To get the most out of IG, create ads that look like posts. Create video ads that are 14 seconds or less, and insert them into your IG stories. You will see a higher conversion rate, since 80% of people prefer video content over written. Make sure all content is current and engaging. It is adverse to spend money on advertisements that send new traffic over to a dead account. When posting, consider how your content and upcoming products/services align. Think of how your products/services add value and benefit the customer. Lean towards frequently asked questions and common pitfalls, then break those down to correlate with the service you provide. Next you'll need to do a launch. Create awareness and a strong base of targeted consumers that want your goods and services.
Swipe Up -
There's no fee for it, but you have to qualify for it! Must be a business account with good activity.
I personally went from 13-22% conversion after implementing Swipe Up.
IG Stories -
After stories was released, Instagram shot from 100 million to 600 million viewers in less than 6 months. Businesses should do at least 3 IG stories a day and push people over to their lead magnet.
Power Editor -
You can target anyone that engaged with you, up to a year back with an ad. If they commented or liked, you can run an ad directly to those users. But you must have a business account to be eligible.
Promote Post -
You can promote a post and send people directly to your IG page to follow you. If your auto responders are on, you'll rake in the cash.
For effective ads, content, and conversion, it's crucial to understand your target demographic and where they hang out.
Generation Z 17 and under
Generation X 35-54
Boomers 55 plus
Boomers are more prevalent on Facebook and Linked In. They are typically CEOs, Upper Management, CFOs, Managers of Procurement, etc., they don't use social media the way Gen Z'ers , Millenials, and Gen X'ers do.
For younger generations, social media is how they communicate. They share what they're doing, thinking, eating, etc. Generation Z and Millenials are the Snapchat community. Generation X-Z and Millenials are avid IG users and are highly active and engaged on the platform.
Research pages that encompass your target demo. Develop ads and content that appeal to that audience. Launch your product and watch your conversion soar!
Next I gave the "The 7 Day Instagram Monetization Plan". In this scope I shared...
Why I started biz building and broadcasting. In addition to needing to build awareness consistently, I was Pre Med in college. I took a general education finance course that appealed to me, because I could apply everything immediately after class. I took another, then another. Finally, I was sitting in a course viewing the income rates of various groups, categories and races in the US. When I got to the 1980's, African American's income flat lined. They say that AA's were economically worse in 2016, than they were in 2000. Because these stats are near and dear to me, I do what I do to remedy these factors in my own niche way. Since I literally speak to thousands of business owners weekly, I hear story after story of how some aspiring small business owner had their funds mishandled or were ripped off by a bogus coach, or someone who was supposed to build their website never completed it. These things affected me because I didn't start with a silver spoon in my mouth. I know the struggle. There was a time that I was on the verge of losing the roof over my head. I said if it comes to that, at least I can work out of my store and make more money. I've also shared with my audience, that I was once the struggle bus DRIVER and over 200k in the hole.
But my life is very different now, because I worked and built everything I have. I literally started with just $125 and a laptop. And as of December 13th, my third location will be open. I now have 40 members on my team, 5 thriving companies, and a recent partnership with Google!
To actually be able to partner with the media giant and also utilize their facility to offer my talents and Wealth Camp event to a room full of "us" has been an absolute dream come true! Being granted the access to conduct my program, at my leisure, and see individuals receiving information and improving their lives, has been the proudest moment of my career!
Long story long, these are the reasons I began broadcasting 'Late Night Biz' and offering information for free. Simply, I want ya'll to WIN!
I know we all have a purpose on the planet and mine is to manifest through money. So If I can teach you to make money by doing what you love and get your finances aligned, you'll be happy and endowed to walk in your purpose with peace, stability, and happiness. It's personally gratifying and validates me as a business builder and consultant.
So apply the info, create a better life for yourself, and bring me the receipts! BLINK! BLINK! BLINK!
Now to the content!
When I made my first 35K on Instagram, I only had about 2K followers. It's because I understood that popularity does NOT equate to prosperity on social media. If you can get your products and service in front of the right audience, you will convert. It's lucrative to have 5K really interested followers, who'll purchase your products, come to your events, and share and refer others to you, than have 50K people that just like to look at you but don't invest.
So, the first thing you must do is change your mindset...PROSPERITY OVER POPULARITY!
Once you figure out the prosperity part, you can scale. Not the other way around. You wanna grow targeted followers, not just a whole mass of people that aren't paying off for us.
Also, there are 3 ways to grow a business.
You must acquire new customers
This is the awareness portion of your funnel/how people learned about you. This leads in to what pages they're hanging out on
- Increase transaction amount
Frequency in which customers purchase with you
1st part of targeting:
Deciding what product/service you want to sell. Remember, the goal is to monetize in 7 days. This means now until a week from the day you begin, you should be able to make some money. This is not for ALL the products/services you offer, just pick 1 to focus on increasing revenue for. If you're selling something under $47, you'll have an easier time converting people as far as IG sales. You will enjoy the first part of the funnel because you'll be selling things within 14 days.
People with products/services in the $98 - $497 price range, will have a little more work cut out for them. This group will consistently have to do IG stories along with posts. The Know, Like & Trust factor will be a large part of securing customers and generating sales, due to the price point. If people can't spend time with you, you'll have a hard time convincing them to open up their wallets for you.
When people trust you, they'll seek you out. You won't have to do much convincing of any kind.
So livestream and broadcast consistently to become integrated into your audience's lives.
For businesses with products over $497, closing your deals will be contingent upon trust, and some sort of face to face interaction. Skype and Zoom work well to conduct Q&As about your goods/services.
2nd part of targeting:
Asking who the product/service is for.
Because as I've preached a thousand times, everyone is NOT your client!
You need to know who, then what the person looks like(Archetype Avatar). Also how old they are, where they hang out, and the reasoning behind them using your goods. If you can figure out their thought process in relation to your products/services and what desires they achieve, you're half way. It will help you create engaging, relevant content. Because we all know, CONTENT IS CASH! If you know how your product helps them and what challenges they have, you can create strong content for the duration of the 7 days.
The next thing you have to do, is think about what you can create as a freebie or lead magnet, that is congruent with your goods. Your lead magnet should be first rate, because it's the audience's first intro to your products/services. If your lead magnet gives people a positive reaction, they'll become interested in acquiring more from you. In that moment, you are establishing your Know, Like & Trust factor. You craft your brand by having quality goods and being consistent and clear with your messaging.
The highest converting lead magnets often come from FAQs. Visit groups and forums to view what people have been struggling with. Remember, YOU SELL BY LISTENING!
If you observe and listen intently, people will tell you what they want, what color they want it in, and how much they'll pay for it! From there, you can figure out what they use before, after or in tandem with your product. Consequently, understand where you are on the food chain!
From there I gave you Part 2 of "The 7 Day Monetization Plan". I suggested you...
Focus on 1 product or service for the week, month or quarter.
Set up your landing page and automation
Create a Lead Magnet
Your Lead Magnet should work in conjuction with the product or service that you want to sell
Now that you have a product and Lead Magnet or Trip Wire(for some) and you know the goods you are trying to push, you need to start generating traffic. There may already be people on your page that are interested in your product, but you may need to generate new traffic.
If you haven't yet been able to convert your followers into buyers, there may be 1 to 3 major factors.
- You conditioned them to only take from you
- You're not conditioning them to understand that this will be a mutually beneficial relationship
- You're targeting the wrong people
Day 3 is all about getting in front of the right folks. If you learn the value of your customer/follower, there should be a baseline projection of how much revenue you should make in the year and there should be a dollar amount. You should have a number and be able to say, the followers that I have are equivalent to $3500 or whatever the number is.
Put your thinking cap on and think like the customer. Day 3 breaks down into psychographics, with a touch of demographics. Psychographics are just as vital when It comes to identifying your target audience and getting in front of the right customer. You'll focus on psychographics, but should keep basic demographics in mind. You'll need to know...
- Gender or who you attract more of
- Age range
If you have a brick and mortar, you can't market everywhere. Your location may be a 15 mile radius. You may service your state or sell internationally. If you sell fur lined boots, you may service people that live up north or somewhere that gets really cold. People in Florida and Texas would not be your demographic.
When we get into psychographics, it's about the "why". What motivates people to do the things they do. It fluctuates between their core values and hobbies, and what it is they like to do. It doesn't necessarily have to correlate with your goods.
One of the 1st things to identify, is what tv show the people in your audience watch. The #1 rule to marketing is be where your people are and know what they like. Once you learn what it is that they like, follow the fan pages of the audience's interests. After you identify their favorite tv show, make a list of 10 IG accounts that already have the eyes and ears of your audience. Look for micro influencers (pages with under 500K followers), they typically have more reasonable promo rates. From there, select 3 that we want to advertise and promote on.
When you find the 10 pages, look for these specific things:
The page content and how it aligns with yours
Time of day they post(observe likes, comments, engagement)
Select 20 - 30 random followers and see what the follower pages look like, what they're posting, and how active they are on IG. See if their age demo matches yours
If you see that all those things are a go, move forward with contacting the promo page owner and request a rate. If out of 10 only 4 respond within 48 hours, move forward with the 4. If the page owner can't reply in a timely fashion, you won't have a good experience promoting on their page. Next, you wanna look at the budget and duration of time that the post will be displayed. From there, select your final 3 and send them a DM, email, etc. Once you receive their rules/guidelines, comply quickly.
Side note: Ideally, it's best to run ads on different days to better track progress. It's beneficial to get 1 post scheduled for Day 1, another post scheduled for Day 5, and the third post for Day 6.
Create content that resembles the promo page, so it resonates with their existing audience. In the content/post, introduce yourself and say follow me. Try to get them over to your page throughout your posts and call to actions(CTAs), but do NOT attempt to sell anything or redirect them to a lead magnet initially. These things won't convert well with a cold audience. Once they come over to your page and see your content, you can then say "click the link in my bio for my free___". But the main objective is for them to follow you from the promo page and join your community.
Now that Day 3 has happened and you've figured out pages, communicated, and done your intro posts. Post twice more over the next two days, then begin tracking your progress on the pages. After completing content for the promo page, we must now think of at least 3 posts for our own pages, for the next 4 days.
Time to make a post on our own timeline. Day 4, 5, 6, and 7 require at least 3 posts, 12 posts minimum.
On Day 4, we'll do at least 2 IG stories. IG stories help your algorithms tremendously! Also, you'll get more people to interact with your stories, than actual posts. And you'll simultaneously boost your Know, Like & Trust factor, while beginning the process of integration. As for your timeline posts, you'll give a "Good Morning" post. It can be what you have for breakfast, a selfie, you cooking, a quote, a warm and fuzzy video, anything positive. Then tell them to click the link in your bio to grab your freebie. The second post you'll do that day is a graphic of your digital product or whatever represents your goods/services. You also want to include a photo of customers using, wearing, eating your product.
The third post is where you'll input something relevant to your audience on your page. You're trying to build relationships, so this is where you can include something about their favorite tv show. On Day 3 you could ask them a question about the show, then put up a meme, "how to" , or a formula about it and give your CTA. If you've done a good job providing a strong CTA and sending people over to your landing page, you should make at least 2 to 3 sales on Day 4. You should be able to recoup whatever you used in Ad spend.
*Posting cycle runs simultaneously with sponsored posts
In Part 3 of "The 7 Day Monetization Plan", I said...
On Day 5, the first thing you need to do is check your campaign.
- Make a spreadsheet
- Input the date the campaign ran
- Document the page/profile
- Notate your initial numbers
- Track your numbers 24 hours following the campaign, and after
- Look for opt ins and sales
- Monitor traffic
Once you retrieve the above info, you're gonna create a promotional schedule. If you do sponsored posts once a week, month or quarter, you should know what type of content works better on each page. Run posts in 24 hour increments, never on the same day. Then you can create a cycle for yourself. Since it's your first time with these accounts, you need to figure out whose account is working, and which ones aren't. When things go well, you can go back and increase your bundle or whatever package the page owner is offering.
We ran the post on Day 4, so on Day 5 we must track our results from the previous day. You should have your own standards and metrics.
For me personally, my goal is to recoup whatever I spent on the promotion or ad. This can come in the form of 5, 50 or 100 new customers depending on the price of the post and the average transaction amount.
Also on Day 5, your second ad should be running for whatever the designated time was. Then you're gonna make 2 IG posts. On this day, your IG stories will be very specific. The first story will be something that allows full display of your face and/or the product. The audience should be able to hear your voice, and you want to offer a helpful tip in your IG story. This is where people are getting to know you and deciding if you're worth following/watching.
The second story on Day 5 is something relatable. This can be a video, song, tv show snippet, or something funny your kid is saying.
1st Post - Good Morning Post
Can be funny, inspirational, a quote, a tip, a selfie or participate in whatever topics are happening on IG.
You'll say, "Hey, make sure to click the link in my bio to get your freebie(20% off discount, Ebook, download, etc.)
2nd Post - Engagement Post
Ask people questions like, "Do you remember when...." "Choose 1 or 2", "Is there something you'd like me to answer", "Are you dealing with a specific thing", "Like or drop an emoji if this describes you". If people don't instantly respond, it's ok. But you must teach people how to behave inside of your community. If your old audience isn't speaking to you, it's because you've conditioned them that way. Don't make the same mistake with the new members.
3rd Post - Image/Graphic Post
Post an attractive image of your freebie. Even if the freebie is a coupon, make a pretty coupon in Canva and post it. The photo gives something for people to correlate with your product, and gives it a perceived value. Once again, you'll give a CTA by saying click the link in my bio and get this coupon, Ebook, cheatsheet, etc.
Track the results from Day 5. Repeat the tracking/follow up steps from the previous day. Keep in mind, if people click on your Lead Magnet but no one opts into it, you need to change it.
Although industry standard is about 10 - 15% conversion, 30% is a good place to start. If you did a good job targeting, you should be well above 10 - 15% and closer to 30%.
Also on Day 6, you'll do a "Good Morning" post, but this time you'll promote a live Q&A, webinar, workshop, or a specific topic you'd like to cover. You'll say, "Tomorrow afternoon at 12p, we're gonna talk about__" or "Friday at 3p, I'm gonna paint a picture live". Inform your audience of where you'll be and when. You can tell them to bring a friend or share the info with someone else who may need it.
The second post you'll make on Day 6 is a testimonial, because nothing beats receipts! Even if you don't have professional clientele/testimonials, you likely have someone you can request a product review from. Or you can showcase your work/products, by putting them on display.
In the scope, "That Time I Lost $3098 On Facebook Ads in 24 Hours", I disclosed that...
A few years ago, I was the STRUGGLE BUS DRIVER...picking people up and dropping them off! I had recently vacated my 9 to 5, and was a full time Entrepreneur. I had a beautiful brick and mortar space, that I'd exhausted my savings to decorate and launch, and had a few sporadic clients here and there. I took every contract that I could, in order to keep the lights on. I was frugal, prudent and sensible. Every check I received went right back into my business, but I still wasn't getting anywhere. I was doing everything I learned in my graduate program and business courses by the book, but not seeing a ROI. And on top of all that, I was 200K in the hole!
Needless to say, I was miserable, confused, and frustrated!
Suddenly, I had a light bulb moment! Many of the clients and inquiries I was receiving, came through Facebook for free. I said if I can get clients just from posting on FB, if I run an ad to other people on FB, it should help me attract more clients.
So I knew I needed to learn the system. Facebook was still relatively new, and there was no model for me to follow but I had to crack the code! I saw an ad for a $500 Facebook course, and I had to do it! I maxed out TWO credit cards to purchase the course(so you know how deep I was in the struggle), but I was on it! I thought if I get one client, the course would have paid for itself. So I started the program and put it together. It taught me about basic demographics, but nothing about psychographics, revenue, or location. So I ran the ad with the basic demographic info I had, and spent hours creating amazing content and beautifying it. But since no one was talking about warming up an audience or lead magnets back then, I had no idea how to integrate a lead magnet into a funnel system. But I was excited! I finalized the verbiage/content and pushed start on the ad! I target engaged couples, but the ads were being shown to women between 20-24 yo. No shade to that age group, but they couldn't afford my services. I had a ton of people clicking on my ad, but they were all empty queries. And because I did such a poor job of targeting, Facebook was charging me $5 every time someone clicked on the ad. So after only a few clicks, I was out of $225. Had I understood metrics and analytics, I would have stopped it early on. Bare in mind, the course only taught me about demographics and there was no other model for me to follow. No one showed me how to figure out my max CPC, acquisition costs, etc. So there I was, allowing this ad to run, that ultimately cost me $3098. It was a hard and sucky lesson, but it's the reason I am so adamant about TARGETING! I made the mistakes so you don't have to. So when I tell ya'll I truly understand where ya'll are coming from and so many of you still are, I WAS YOU! When people ask why my products are so cheap, it's because I know many of you completed $30K-50K trainings with coaches that you received nothing from. I know what it's like not being able to afford a $1200 course or $100 for a book, that's why my digital products max out at $297. I am serving all the "me's" in the world! Hear this...you are good enough, your ideas and products/services are good enough, keep going! Keep pushing and building and when you make it happen, send "The King" the receipts!
Lastly, I rounded out October with "4 Keys To Open The Door To 6 & 7 Figures In The Next 9 Months", and said...
The fundamentals of doing business are all the same. However, the channels and methods in which we acquire and use things are evolving. If we aren't adaptable, learn to take risks, or learn our consumers(psychographics/demographics), we will fail! Remember the following keys on your quest to 6 & 7 figures.
I reminded everyone that Target Marketing makes all the difference in the world, when it comes to how many contracts you are able to close and how much you're able to sell. Getting in front of the right people is 80% of the journey, and ultimately prevents you from wasting your money and resources.
Once I learned to target, I literally turned a $50 Facebook ad into 74K in a week and a half.
A confused mind does nothing...
We need people to know exactly what we do and offer. Focus on a specific product or specific purpose
Distribution is always a major factor when it comes to generating 6 and 7 figures. It entails the process that endows consumers to purchase from you again and again, and is essentially the route that is taken from the time something is created or sourced, till it reached the consumers hands, desktop, tv or final destination.
Distribution has two major components:
To create high demand products...
Solve your own problem
Create a product to satisfy your own desire or problem
Presales are an excellent way to source your audience without using a ton of resources. It's a great way to test if a product will be amazing or flop. If you offer a presale and no one buys, discontinue it!
K.I.S.S.(Keep It Simple Stupid)
Keep your products simple. Think of a specific need/desire, and speak directly to that pain point. If you aren't sure, visit your FAQs. This will be your best indication for Lead Magnets and Trip Wires.
Can you use your product?
Whatever product you push, you should be using it, wearing it, applying it yourself everyday. If you're not using it, you shouldn't be selling it.
Talk to your customers
The more you know about them, the more you know what they want. YOU SELL BY LISTENING!
Does my product entertain, make life easier, or satisfy an immediate desire?
These are the 3 triggers that compel people to opt into your goods/services .
75% of men spend money on entertainment based goods/services(i.e. movies, alcohol, sport, concerts, subscriptions, etc.)
Women primarily spend money on things that solve an immediate need.
Complimentary sales and services
This is a quick way to boost your business. It's a good idea to sell those things that people use right before, after or in conjunction with your goods. It is vital to know your limitations when providing complimentary services to your staple product. See what is easiest to integrate with little to no extra overhead
That was a chunk, but hopefully you'll be putting all this info to good use and sending your girl some receipts in the near future. Stay tuned for more and hopefully, I'll be sharing your coin come up with the Kingdom! BLINK! BLINK! BLINK!
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