Der Marketing-Mythos, der dich Leads kostet

0:00You're You're on the Hermosi Hotline. What's up, man? >> What is Oh, man, happy birthday and man, love I'm watching right now. >> No, I Dude, you're the man. Um okay, so we got 5 minutes. Tell me uh top line, bottom line, and uh what's what what what's holding you back? All right? >> Yes. >> Yeah. >> Top line, doing around average 80K per month.

0:26>> Okay, 80K a month. >> 45 35% um >> Margins? >> Profit margins? >> Yeah, okay. >> And constraint right now is getting more qualified leads. >> Okay. >> And more of them, to be honest, yeah. >> Yeah, you just want more leads, more front end. Got it. So, said differently, you can handle double the customers you're getting right now. Is that correct?

0:52>> Yes, we can. >> Okay, cool. So, if you can handle double the customers, um what are you currently doing to get leads? >> Yeah, that's a great question. So, right now we uh trying to have a free opt-in and the free opt-in is into a lead magnet. Um that's to get more leads and then we also are going to run a low-ticket product to turn those guys into more qualified buyers.

1:21>> All right, let me tell you a secret. This works for everybody who's listening to this. I know that it's very common in the marketing world to talk about, you know, educating and creating your ideal avatar. Okay? I would say that in my experience that tends to be not true the vast majority of the time. Marketing acts far more as a filtration system more than it does as an education system.

1:46So, it's more that you are finding the ideal buyers than you are creating them. There's always going to be the exception every once in a while. Hey, this guy bought this thing for a dollar and then, you know, you know, he's starting he's starting his life over and all these other things. Of course, there's always those stories, but those are the exception not the rule. And so if the if the idea is Right, go ahead. >> Yeah, okay. That that completely shifted my mind because we're like on the prices of creating like a low ticket that gets them into being a low like a qualified buyer. So that's what we thought.

2:17>> Now, if you want to add friction, yeah, I would just say this. The like there's nothing wrong with having a quote low ticket purchase in order to shift the relationship from a you know, from a from a watcher to a customer, right? Like that's fine. Like people buy books, 29 bucks, you know, like you buy a book. Um and you know, you become you become a customer. Shifts the dynamic relationship. Um but it's less so that like oh because like it just takes a long time for a lot of people to do things. Like it takes years, right? And so to expect that unless you have a super long-term horizon like which I do here, which is why I have all these books. We're trying to give them away because like I this is my forever business, but um Right. So like I I know that there's an 18-year-old right now who's going to buy these books and is going to sleep under you know, use it sleep under his pillow in 4 years or in 3 years have an AI startup and then he'll hit me up, which literally happened. Crazy.

3:07Uh 2 months ago, one of the AI startups that we are invested in, hardcore Moz Nation guy, started read all the books and then created an AI for uh legal. So they handle all the intake calls for law firms now. So he found a vertical B2B SaaS, high ticket, um sells his AI through there. Oh Jesus, it is there's a whole bunch of chaos in the background. Sorry about that. Um Sorry. >> Wow. >> Yeah. >> You keep thinking shifting shifting my mind because >> Yes.

3:33>> we're like spending like all this time to like create this >> No. >> low ticket product and turn them into What you're trying to say to me is that we should just get more options. >> Yes. >> Just get more leads. >> Yes. You want to get more leads? You want to get more leads and specifically you want to use things that don't attract beginners with the intention of saying oh I'm going to turn a beginner into an advanced person." I'm going to attract advanced people with the type of content that advanced people talk about. So, the reason this book for particularly, um it actually flipped the ratio of the people who attended the live launch. So, when I did the Leads book, we had a dis- we had probably two-thirds people who were there uh didn't have a business. And I think the main reason for that is because the subject matter, so what we talked about with the Leads book was like how how to advertise. How do you get your first customers, right? Well, really you can advertise at any scale, but many people who don't have customers are like, "Oh, I think I just need more leads." Now, if I'm talking about cash conversion cycles, how do you how do you get more customers, spend more money in less time? That's purely a business owner problem, right? So, because of the nature of the subject matter on this launch, two-thirds of the people were business owners, 65% were business owners at this launch. And it's because of the nature of it. Like, you're not thinking about cash conversion cycles, you're not thinking about offsetting CAC, you're not thinking about how you can accelerate cash flow. Like, none of these things are issues when you're when you don't have a business. When you have a business, you understand the nature of the problem, right? And so, because of that subject matter, it lent itself to more business owners. And so, when you're thinking about how do I want to attract barbers who are going to spend more money, then it's like, "Okay, then what do barbers who have more money to spend, what are their problems?" And I guarantee you their problems are different than some of the more junior ones.

5:06>> Right? Okay, that's awesome. Let me Let me Let me ask you this. Like, would me doing this strategy right here that I'm about to tell you fix what >> And we got 90 seconds, all right? 90 seconds. Just keep going. >> Awesome. >> All right. >> 90 seconds is all I need. >> All right. >> I'm going to I I did a better lead magnet that attracted the those problems of the higher more advanced barbers. Would that solve what you just told me? >> Yeah.

5:31Totally fine. It's going to be both the lead magnet, but also the content that's that's advertising it, right? So, if you say like, "Get rich quick, start your barber shop," right? And then you have an advanced lead magnet, it doesn't match. So, it has to be congruent. So, like the nature of the content, the nature of the advertising should match the messaging and the thing that you're giving away. But also, and I'll be clear about this. I'm going to I'm going to I'm going to clear this is a key point. Your cost of leads might triple.

5:59But But, yeah, cuz there's not as many of them. So, it costs more to get them. But Said differently, would you rather spend 10 like get a $10 lead that's worth 30, or would you rather get a $100 lead that's worth a thousand? Right, but you still spend 10 times as much. So, that's the thing, right? So, you have to be comfortable with understanding that it's the it's the ratio between the numbers, not the absolute amount of the number.

6:29And as soon as you cuz like when you make a shift like that, you're all of a sudden your metrics are going to change. You have to expect there's going to be a little bit of like a readjustment period where you re-baseline and relearn the numbers around this avatar. Does that make sense? I didn't hear that last part. Well, you might, but it's just the metrics are going to be different. It's just the metrics are going to be different. So, it's just expect an adjustment period. That's all. And if you're going to do that, you also need to make sure that you're selling cuz right now, I'm I'm telling you this cuz I know this is applying more than more more than one person.

7:06You need to also make sure that you're adjusting your price for this newer avatar. And so, um what the first playbook that I want you to read because I know that you you got the 800. Um the first playbook I want you to read is the LTV playbook, okay? I want you to follow the LTV playbook to a T. And there's also inside of the Lost Chapters, um one of the chapters in there is called Your First Avatar.

7:30And so, read the Your First Avatar chapter and read the uh Lifetime Value chapter and just execute the steps in there, okay? All right, rock and roll. Appreciate you, man. All right, >> thanks for joining us, man. All right, bye. If you own a business owner and you are not growing as fast as you like, I'd like to give you a free gift. So, my team and I put together the $100 million scaling roadmap, which is basically 200 hours of us looking over all the portfolio companies we've had and what stages of growth they went through and more importantly, where they got stuck and how they got past it. And so, we broke it into these 10 stages and we made this little kind of quiz thing where if you put in your business information, it'll tell you where you're at and the most important part for you, what to do for each of functions of the business across product, marketing, sales, customer success, recruiting, IT, human resources, and finance. And so, no matter what you're struggling with, someone else has already struggled with it and solved it. And so, I'd like to give you this thing absolutely free. You can go to acquisition.com/roadmap, plug in your business information, and if you want us to actually help you deconstruct the business and you're trying to scale, we'd love to help you out. On the thank you page, you can just book a call with my team and we will look at your business, see if we can help, and if we can, we'll invite you out to Vegas and we'll do this in person live.