I've spent ~10 years helping digital brands grow. I share what I know and what I'm experimenting with in this newsletter.
Free lead magnets are cutting your growth by 2/3rds
|
I've completely stopped creating new lead magnets for my business. Why? Well, I could go over the same old ground and once again hammer you with the messages of...
But, there's another reason. One which is - in my opinion - more important and underpins the other two. In fact, this underpins the entire success of your growth strategy. Look, running ads or paying for any marketing for your business comes down to one thing. The economics. If you have to spend $100 to acquire a customer then you need...
It's not rocket science. It all comes down to getting that investment back ASAP and then increasing the LTV to turn a healthy profit. Free lead magnets make this three times harder. Let's say you have a free lead magnet that has a 30% opt-in rate (the average CVR), and the thank you page is a self-liquidating offer. You're paying an average $3 per click for your ads. Which means you're now paying $9 per view of your paid offer. That free lead magnet filter is tripling your...
And this is all assuming that the free lead magnet is a perfect tie-in with the paid offer. If there's a mismatch here, you can expect even lower CVRs on the paid offer. There was a time when this approach worked. When ads were cheap and people were more receptive. But that time has passed. Efficiency is the name of the game now, and the most efficient method of running ads is to look at how you can get that payback period as short as possible. You do that by putting the paid offer at the front, and not hiding it behind a free lead magnet. Pete "paid offers up front" Boyle P.S. - If you're questioning how you can run ads direct to a high ticket offer - you don't. You create a small offer that identifies buyers and then ascend them to the HTO. I teach you how to craft that initial offer in the $1 Product Challenge. |
Growth Models
I've spent ~10 years helping digital brands grow. I share what I know and what I'm experimenting with in this newsletter.
I soft-launched a new offer recently, the custom $1 Product Blueprint build, and it reminded me of something people forget about when it comes to helping prospects. Quick note before I get into it. I’m opening a few DFY strategy build slots again. If you want me to build your growth system for you, reply and I’ll share the details. So, the new offer has a super simple onboarding approach... ... Customer buys.... They fill in a form.... I build the custom blueprint. Simple, right? But within a...
A little while back, my downspout from our roof terrace was blocked. I'd look out of the window and see the hoppers filling with water, which then spilled all over the side of the house. Obviously, not ideal, but I could easily fix this myself... or at least I thought it was. I grabbed a drain snake and got to work after an hour or so of rattling that snake around, I patted myself on the back for a job well done. Yet when the next rain came, it overflowed again. Turns out there were more...
Yo! So I'm flirting with the idea of low-ticket done-for-you services. I've seen a couple of people shift this way and I want to test it. I mean, I've got the templates, systems, and proof to make this work. I just need a handful of people (I'm thinking 3-5) to help me work out the kinks. If you're up for it, hit reply and let me know. If you want more info, here's the detail. I'm of the opinion low-ticket offers will move on from the common... Info-based courses Fill-in-the-blank templates...