A Tailored Lead Magnet Converts 20x Better

0:00Do you mean you Christopher Powell? No. Okay. I E L T S Advantage. What's your guess? >> [laughter] >> No idea. >> All right. Oh, it's international. Ooh, exotic. I think it's UK right now. Is that UK? Is it? 4 4? >> Hello. >> Hello, Christopher. >> Yep, that's me. >> Is

0:24>> How you doing, Alex? >> Excellent. Are you Are you a UK number? >> Uh yes, I'm in >> I got it. I got it. >> I got it. >> Nailed it. Nailed it. Okay, awesome, man. So, tell me what I E L T S Advantage is. >> So, we're a test prep company. We're an English test prep company. So, we help people move to English-speaking countries by preparing them for an English test. >> Well, I never had to, but Sharon had to take an English test when he got here.

0:51So, I feel like >> TOEFL. >> Okay. So, you guys prep people for tests. Got it. And you're doing mostly immigrants, correct? >> Yeah. >> Okay, heard. So, uh revenues, what was it? You got 1.2 in bottom line? I remember seeing that. >> Yeah. >> So, what's top line again? >> Three. >> Okay, three top line, 1.2 million bottom line. Heard. Okay. Margins seem decent.

1:15So, what's um So, what's holding you back? What are you trying to do? >> So, we've got a lot of traffic and we get a lot of leads. >> Is it a YouTube channel? >> Yeah. So, we get around 4 million long-form views a month >> Okay. >> uh from YouTube. It's our main um acquisition channel. >> Yeah. >> And we get around 100,000 email sign-up leads from our free lead magnets a month. And we convert about 1% of those. So, we've been doing a few pulling a few levers the last 6 months and things have improved. We just wanted to talk about the things that uh have been improving and whether to just keep keep doing those things or maybe

1:57>> Well, >> figure out other things. Well, let me let let before you tell me what's the lead magnet and what's the price and how do you sell? >> So, there are multiple lead magnets and there are multiple video courses that people can sign up for. >> Okay. >> What's been really killing it is that tailored lead magnets for each YouTube video. So, if we have a general course uh we will convert maybe half a percent of viewers, but if we have a tailored PDF, it'll be like between 10 and 15%.

2:34So, it's it's massive. >> Huge. Huge. Really? That's a great >> just changed that in the last couple of months. >> That's your That's your tactical tactical nugget for anybody who's listening. So, uh super specific uh lead magnet outperforms very vague vague generic lead magnet. Okay. So, you're doing that. Now, the thing is is having lots of different diverse lead magnets can work fine as long as it funnels through a single front door.

3:00>> Mhm. >> Okay. So, anyways, so So, what do you sell? So, I got the lead magnet. What do you sell? >> So, we sell a course with one-on-one feedback and support. >> Okay. So, >> that for $400. >> Okay. So, walk me through I watch a video. Uh I watch a video and then I go and get my lead magnet and so I opt in and so then what what do I do from there to paying you $500 or $400?

3:31>> So, mostly it's done through email and so because it's such an international audience, we've never been able to make sale sales calls work. They seem much more comfortable uh through email. So, we will send them typically one email a day for uh, about 30 days and then we have monthly launches where we will do like a live event. It could be a one-to-three-day event, and we do those again monthly, and they bring in a lot of revenue as well. Uh, we also have ads that that uh, would target people who sign up.

4:07Um, so >> So, email follow-up plus once a month you clean the pipeline. >> Yeah. >> Okay, heard. How many people buy from email follow-up versus uh, the webinars? >> Uh, it depends on what what uh, what but generally it would be about two-thirds email and a third from webinars, but even with the webinars most of the sales come through through email.

4:38Ads, people just have more comfortable seeing it in black and white and being able to discuss things with it through email than than making decisions on video. >> This is a deal of the week. Go for it. >> So, um, you know, one of the things that hey Sizzler, great to first off, great job great job building something on a 400 You've You've told us one product, I'm assuming there's more, but whenever there is an uh, acquisition channel that has kind of exactly what you're doing, people are coming in through different lead magnets, there's got to be one way that you can put all of them together. And so, the one strategy that I that we like to recommend is called the deal of the week where you can hit the entire list with a rotating offer every week. So, if especially since you have email readers, which is awesome, you're getting two-thirds from email, if you just lo- if you just loaded up a every week on I'm making it up every week on Wednesday you have a deal of the week offer, which is a really simple offer that says, "This is the deal of the week. This is what you get." You'll be able to hit the entire list with that. And um, or you can do a PS with, you know, reply if If questions, and now you generate conversation on email follow-up. Have you tried something like that?

5:49>> Yeah, we we've been doing that. Yeah. >> Okay. >> So, we send to our entire list we send about three emails a week. Two of them would be pure value, and one of them would be some kind of offer like a deal of the week type of thing. >> Okay, good. So, I'll say this. So, you're converting 1% of lead magnet options, correct? >> Yes. >> Yeah, that's not I mean like the only way that you're going to like dramatically improve that is going to be basically a sales team.

6:18So, I don't know if you just saw the >> We tried that in the >> Yeah, go ahead. >> that in the past. Um it's it was very difficult difficult. Maybe we just we were just bad at sales. And that could be that could be the case. >> Well, did they watch did they watch a VSL before you sold them? >> No. >> Yeah, that was the issue. That was the I'll just tell you right now that was the problem. So, you have the right idea. You just missed one of the pieces. So, the way that this would work and maybe you'll watch this recording later, but lead magnet then goes to VSL, which is a video sales letter. So, it goes to a little video that explains the nature of your stuff, and then at that point they can schedule a call underneath.

6:55Right? And then that goes to um that goes to the sales you know, the sales person's calendar. And then they can go on that sale and buy. And on that VSL, they should have an idea of how much that how much how expensive it is. >> Good. >> Yeah. >> That makes sense. >> I mean that's I mean and so, on this you'll also still include BANT? So, budget, authority, need, timing? So, that'll allow you to qualify the leads. And so, like if you wanted to like say like let's just go uh minimum friction besides the VSL, you could say don't mention the money and don't do BANT. If you want to add friction, then you'd say I'm going to tell how much how much how much money it's going to be and I'm going to have BANT. And so, me in general I would say that I almost always have made more money adding friction in my whole life.

7:37And it's always counterintuitive, but I almost always make more even though my quote per call or my volume goes down, my sales efficiency for the team goes way up, close rates go up, morale goes up, and I usually am also because the morale goes up because they're not hearing no as often, they tend to be more aligned within me saying, "Okay, well, let's increase the price." And so then I start to have more more leverage on on the pricing lever. And so, I just want to say this up front, you increasing this like you you probably you might have like a double or a triple there, not a promise or a guarantee, I'm just saying that that could happen, but you're still going to then once you do that double or triple, you're still going to be in the same position you are right now, which is that you're going to have to increase more of the front end. So, you can still do that now though, why not?

8:13Um and especially if you're running ads, then increasing your conversion percentage will make a difference cuz then you can, you know, afford more expensive traffic or buy more of it. Um but still, no matter what, there's going to be a runway that you're going to want to expand top of funnel awareness with. How do I How do I do a big collaboration? How do I do some sort of brand stunt? How do I take somebody from can't speak English to getting a job that's really and document the whole thing? Like that kind of stuff, aspirational, it's what's going to start making the associations with a brand over time. They're going to build a bigger footprint. Does that make sense?

8:40>> Yeah. >> Yeah, totally. >> Okay. I have I have one thing for you. So, you seem like a really uh savvy email marketer, and I'll say this both for uh a diagnostic for you and for everyone else listening. Have you had a chance to try in your other uh emails, which are non which are non deal of the week emails, have you tried where if you're doing a piece of content and having them click out, you have some kind of tagging associated with hey Alex saw this specific piece of content, so he clicked out since you got a specific lead magnet, and then there's a automated offer sequence based on that click out?

9:14>> No, we track as like UTMs, and we wouldn't we it wouldn't be as advanced. >> Okay, well, I I this is actually super easy to do, by the way. If let's say Alex gets an email about a certain topic, and he clicks in the email to maybe go watch a YouTube video, whatever, you know that Alex has an interest-based click. That tags, and then 24 hours later you say, "Hey, based on this, here's the offer." You don't have to do anything else because that's just set up in the tag click auto email sequence. I would look that up because that's one of the easiest lowest hanging fruit that you can set up because for every email content based email that you can send, if I raise my hand and say I watched that or I clicked on that, you're sending me an offer entirely based on that that is automatically pre-scheduled.

9:58>> I see great man. That's a good idea. >> Yeah, you you have I mean you have you have a lot of emails like this is a this is a no-brainer >> where you >> you're easily going to get easily going to get you know kind of automated sales machine on this one. >> Yeah, good idea. >> Rock and roll. >> Awesome. Appreciate you man. >> Good job. >> Thank you for donating books. >> Hey thanks so much. >> No you bet. >> Thank you. Thanks for everything you did. So long. >> No thank you man. Seriously. And honestly I think if you just if you try that like you I think you had the you just literally were missing a piece of the funnel. That's all it was.

10:29>> I'll let I'll let you know when I'm when I'm back in Vegas. >> All right. Rock and roll man. Thank you. All right, so if you like this video and you're a business owner who wants to break through your current revenue ceiling, I distilled every lesson from scaling 10 businesses past 10 million and three businesses past 100 million into a completely free scaling road map that I've used to go from zero to one, zero to 10, and zero to 100 plus. And so you can click here and you can check it out. Again, absolutely free and since you're a business owner I appreciate you and enjoy.