(Key ideas from the book)
* The Importance of the Value Ladder
* One of the biggest issues businesses face when advertising online (Facebook or elsewhere) is coming up with an offer/message that is enticing enough for someone to click on.
Often businesses will go straight for the sale, advertising their main product (to people that have never heard of them).
Then they see no results.
Because people aren’t going to whip out their wallets and pay a lot of money to someone they don’t know or trust.
Therefore when were advertising online, we need a process/funnel to bring people through in order to get them to trust us enough to buy from us.
Value Ladder DotCom Secrets
* Rather than going straight for the sale, we might give something away for free, to get people through the door.
* Rather than trying to go for the instant sale, we want to offer something for free, to start the conversation. For a chiropractor that might be a free massage. We serve and ad to people in the local area offering free massages.
That is a pretty enticing offer, right? Who doesn’t like a free massage!
* Then, when the patient is in the practice receiving the treatment, the chiropractor will have a chance to upsell that person to something, such as a $99 session or a health programme, if that’s what the patient needs (the chiropractor would be able to tell from the massage).
That patient is much more likely to pay the chiropractor because the chiropractor has already provided value.
* You offer something for free, then something for cheap and you continue upselling to that person as you continue to provide more value.
Before you start to build out any sales funnel, you want to find people who already have a successful funnel in place and are targeting the same people you want to.
Funnel hacking steps:
1. Make a list of your competitors
2. Find the URL of each landing page they use and take a note of them all
3. Use something like SimilarWeb to get an idea of how they’re getting traffic
4. Dig deep into everything maybe even buy their products to get an idea of the emails you get
5. Take what you’ve learned from them and build your own funnels in something like
Whenever you build a new sales funnel, even if you do hack your competitors funnel, you’re still guessing. You don’t know if its going to work or not, and so you need to have some way of monitoring the success of it.
The hundred visitors principle is a way of doing that.
You send 100 visitors to your landing page and you see what happens.
In DotCom Secrets, Russell gives the example of a $197 product. For every 100 people they sent to the landing page for that $197 product, 1% purchased. So for every 100 people, they made $197.
Then they started experimenting by offering something for free. They took a part of the $197 product and offered it away for free, as long as the consumer paid the shipping cost.
As soon as someone signed up for the free-plus-shipping offer, they were upsold to the same $197 product.
On average 8% people signed up to the free-plus-shipping offer (because it was less a commitment) and 25% of those people then purchased the $197 product!
So for every 100 visitors, they generated $394. Pretty much doubling their money by offering that free-plus-shipping offer.
The 100 visitors principle gives you a benchmark which allows you to determine the success of your funnel before making changes. Don’t make any drastic changes or decisions until you’ve had that 100 people land on the first page and go through your funnel.