Agentur für Großhändler zum Wachstum bringen

0:00Unternehmer/Gast Hi, my name is JT. >> JT. All right, JT. >> Yes, sir. Brother, >> tell me about your business. >> Well, I run like a real estate company, closer, and it it handles the marketing and sales for like new wholesalers and people getting into the business. They can scale faster and earn like learn the process while they earn it, like earn money. >> Okay. So, you generate appointments and leads for them.

0:25>> Well, we generate the leads for them and we send our sales team on the deal. So basically we are running like the entire front end and the back end. So they're basically running the marketing but they get to learn while they do the process with us. >> So why so this genuine question like why do you do that versus just like doing wholesaling? >> Well I do it because it fixes the cash our cash conversion cycle. Like we're able to we're able to fix the like the liquidity issue in wholesale because the phase on market is so long. Um, we're taking it down to where we can like become way more profitable as we do different.

1:05>> Yeah. Okay. Um, you could raise money and just do it. Side note. But all right. >> Um, okay. So, what do you want to have happen? That's not happening. >> So, when we're on like sales call Yeah. with people um basically they agree on the price but a lot of the times like they can't afford the first payment or they can't get approved for financing and I'm like is that a sales problem or is it like a a lead problem and should we just collect whatever cash they have or no like

1:40>> well how are they going to afford to pay for the marketing too if they can't pay for or is that what you're saying they can't they can't afford to pay for the marketing >> yeah so they can't afford to pay for the marketing >> what's the revenue What's the stick in this business? Like how long like do people stay for years, you know, doing this with you? Like what percentage of customers are are here 12 months later? >> No, it's mostly not that they're here 12 months later. It's like the onboarding.

2:04So the LTB is roughly like 35,000 >> within like 90 days. >> Um >> but over time like the only thing they really stay for is like the CRM if they use it. >> Okay. So you white lab go high level or something. >> Yeah. Yeah. >> Right. Okay. Okay. So, the issue is that like what's your LTV to CAC right now?

2:28>> So, right now our CAC is roughly like 5,000 but we're we're um at 35 like 35,000ish LP. >> Okay. So, you're seven to one. Okay. >> So, I mean that inherently is okay. Um, so what stops you from doing more of what you're doing? >> Um, nothing's necessarily stopping me.

2:54Alex Our close rate is just super low. >> Okay. I mean, I would probably just throw in lead qualifications on the front end. It'll just like decrease the frustration of your team. You'll probably increase your Well, obviously you increase your close rates if you take out the the disqualifies, but it'll you'll close more in general because the sales team won't be beat down from hearing no all day. >> Okay? >> I'll tell you this, man. You will make significantly more money by adding qualifications to a funnel. Like I almost like I have almost never like I'm trying to think of a time where me adding qualification friction made me less money. Your your metrics will change. So like your so not CAC and LTV but your I mean LTV might change but said differently like your cost per call or cost per click or cost you know whatever metric you use there uh will probably go up but your CAC may go down.

3:44Alex and your LTV will certainly go up. >> Okay. >> I would just add more qualifications in the process and then do more. >> So I guess that is I guess that's a fear of mine. Let's see for the for the appointment to go up a cost per employment to go up. But basically it should make it more profitable because we're not talking to unqualified people. Correct. >> Yes. Because listen, if you let if you let some of these minnows in, right, it's not a good fit for them. It's putting it's their last dollar. like you should not like you shouldn't do it ethically anyways. But bis like outside of ethics because that won't that never convinces anyone if they're making money. Um it's not good for the business. It's bad for the sales team. It's bad for reputation. And fundamentally like when you accept everyone, you ward off people who can actually afford stuff.

4:32>> Yeah. Yeah. >> And like I guess for the we like like you said with like you're big on lead magnets. So we do provide like a really in-depth training guide like really in depth but the the issue there is the majority of people who come in are not qualified at all. So should I add more qualifications to that too? >> So you can add qual what is the lead mag

4:57>> the lead magnet is a training like it's like all of our SOPs like all of our SOPs all of our like basically for our entire company. You can you I mean you can have the SOPs there whatever just put add an extra box that says like whatever the qualifications are that are that you know are required for somebody to be a good customer. So like for example at the book launch people could opt in to show up to the launch. The launch functionally acted as a as a lead magnet in this scenario. I still ask for people whether they owned a business and if they had a business, what revenue level they were at because I have no need for, you know, leads in a CRM who are not business owners above a certain size to get a call from my team. There's no point. It's a waste of their time.

5:36It's a waste of ours, right? They should just use all my free stuff. And so, just add a qualifier on the on on the front end, >> okay? and then only call those leads and then have the thank you page sort uh leads uh the best leads to the the sales team and then the worst lead just you know send them to an automated thing that maybe selfquidate some of the ad spend. >> Okay. So I on the qualification question yeah

6:03Alex >> would you put like something vague like we have right now we have a qualification question like are you willing to invest in your >> No that's not a qualification question dude that's that's a like do you have a pulse and a credit card question. I'm saying you have Yeah. >> Right. You need to figure out who your avatar is. >> Okay. >> Have you read the Lost Chapters book? >> Okay. >> The Lost Chapters book. No, I haven't read that one. >> First chapter of the Lost Chapters book is finding your avatar your first avatar. All right. The process that it walks through in that in in the book in that first chapter is you need to look at the customers who have spent the most with you and stayed the longest. What are their characteristics? So, we look at their demographics like who are they, right? We looked at their quantifiables like do they have a certain income level? Do they have a certain amount of kids? Do they have a certain family? Uh and then I look at geographics. Do they live in a certain area? Right? And so when I have those three things put together then I know that it's like okay it's actually conservative Christian males uh you know 35 plus uh who are married is actually my best avatar. It's like great. So that's what we're going to make in our ads. And your big fear right now is if I make more qualifications my cost is going to go up. But it's not, dude, because you're gonna need to advertise to the right type of customer and you'll get those people to opt in and then you will go b get them to buy more expensive stuff.

7:20>> Okay? >> It's everyone's fear. >> Everyone's fear is going from general to specific. But when you go specific, you get the right people. >> Okay? So actionable steps are just like the qualification questions and making it specific to the avatar. >> So in order it will be determine the avatar by looking at all the customers that you have. If you want to look at who they are, what quantifiables they have, geographics, and if you can, bonus points for sales process. Did they consume anything else in the sales process? They have a different experience than the people uh who didn't who aren't worth as much. Right? Once we have that data, we then weave that into the advertising in terms of callouts of who the avatar is. We weave that into the landing pages. Weave that into the the the the drop downs for the questions and the friction that we added in the funnel. We add that into the VSSLs. If you have a VSSL, I'm sure you do. um that that tells them about the process and it begins with the pains and the hook of that specific avatar. You do all that stuff, you will for sure convert more.

8:15>> Okay, >> cool. >> Thank you, brother. >> You bet, man. Have a good one, dude. >> You as well. All right. Rock and roll.