When it comes to marketing and sales funnels, the possibilities are endless.
It's easy to think that you can simply clone a funnel and that it's going to work for your business and your products. However, there's actually a lot more that goes into creating extremely well performing funnels and turning ad spend into actual revenue.
This episode we're chatting with the brilliant funnel master, Todd Brown. Todd has created genius funnels over the years and is a true expert when it comes to know exactly what goes into the secret sauce of a well performing funnel.
Let's jump right in…
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- I believe today, for both paid traffic and standing out in a crowded market place, there are two things that you’ve gotta do.
- Number one, you’ve got to have a compelling idea. It’s no longer about screaming the loudest or using hyped up copy, it’s all about good ideas.
- What really gets attention and stands out today is a good idea. Ideas that are both intellectually interesting and emotionally compelling to prospects.
- Before you write a single word of copy you’ve got to make sure that you develop your big marketing idea, an idea that meets the above criteria.
- Number two, you’ve got to have a great offer. You’ve got to have, what we refer to as, a SIN (superior, irresistible, no brainer) offer.
- You have to assemble and engineer an offer that is so good that it becomes difficult for the prospects to say no to. It becomes more difficult for them to say no to the offer than it is to say yes!
- I don’t actually think there’s such a thing as a ‘cookie cutter’ funnel, I think the idea that you could just fill in the blanks of a funnel is just ridiculous.
- But I do think that there are definitely some best practices.
- The audience of every marketing campaign are human beings, and human beings are all driven by a certain small set of emotions. So, there are certain best practices that fit in with that.
- There are a lot of different campaigns that work and a lot of different marketing funnels that work, but at the root at all of those different marketing funnel models is this:
- In order to have a successful campaign you have to have an idea worthy of attention.
- You have to understand the right way of opening up your campaign so that you turn that attention into engagement.
- You have to propose a marketing argument that shows your prospect why your product is the absolute best course of action for their needs, their wants, their desires and their situation right now.
- Then you have to offer them a SIN offer, you’ve got to put together a killer offer.
- I don’t care what model you use, if you lack those things then you are going to struggle to convert.
- There are the occasional campaigns and funnels where people are profiting on the front end so they might be offering a trip wire with bump offers, up-sells
anddown-sells, but they are rare.
- But the reality is that the overwhelming majority of campaigns today are not recouping 100% of ad spend on day zero.
- Let’s take a very common type of campaign as an example, a book campaign.
- So, I sell a $7 book but when the typical customer goes through that campaign with the different value add offers that we have, the typical customer spends $42 with us. Every time we sell a book for $7 then that customer is actually worth more.
- But what people don’t understand is that it costs us around $60 to get a customer. So, in terms of ad spend it costs us $60 for a customer that is worth $42.
- In essence, you could say that with that particular campaign, we go in the hole on day zero by $17. The reason we do that is we know the lifetime value of a customer, which for us is in the thousands of dollars. People stay with us long term and invest in a lot of our programmes.
- When you look at it like that then really, I’m investing. I’m investing that $17 to get a new customer today that I know will stay with us longer which will allow us to make up for that ad spend.
- The key is to focus on increasing your average order value.
- The average order value is the average amount of money that a customer spends with you when they go through your campaign.
- So, let’s say you have a single marketing campaign right now and you’re trying to scale your business or get it off the ground. Your goal should be to increase the amount of money that a new customer spends with you by the time they’re done with the campaign.
- To do this you could increase the price point of the product, you could add in a bump offer on the order form, you could add in up-sells and down-sells, second chance offers, there’s a variety of different ways to do that.
- The point is that the game becomes increasing your average order value.
- If you’re struggling with cash flow for your funnel, you shouldn’t try to decrease your cost of acquisition. It’s a lot harder to increase your conversion rate by decreasing your acquisition cost, it’s a lot easier to increase the value of every customer.
- The answer is yes! We probably spend around $90,000 a month on Facebook ads and I would say that the overwhelming majority of that money is on ads that are driving people straight into an offer.
- You make this work with a big idea and a great offer, that’s it!
- I do believe that if you go from cold traffic straight to an offer then you shouldn’t go high priced, you would need more time and follow up with the prospect to make them spend big thousands of dollars.
- But certainly, when you’re lower on the spectrum in terms of price point it can totally work if you have a great idea and a great offer. A big marketing idea and a SIN offer, and that’s it.
- The way to look at it is that, I would say, 7 out of 10 variations of campaigns are not going to work. Meaning you’re going to try to run it to cold traffic and you’re not going to recoup enough of your money. You have to recognise that this is a game of iteration.
- For the book campaign that I mentioned earlier we probably tested 6 or 7 different version. When we first rolled out that campaign it wasn’t producing $42 per customer, it was producing way less and wasn’t viable. So, we kept going until we found the right campaign.
A book that you would recommend…
The Writer’s Diet by Helen Sword
What is your top success habit?
I exercise every day at the same time, I follow a very strict programme and it brings so much clarity.
Who do you look up to?
This is probably an answer that nobody else has given – Paul the Apostle from the Bible. He dedicated his life to righting his wrongs and was willing to admit when he was wrong.
What are your
I don’t really rely too much on apps but I do love Slack for team communication.
Here’s the big one…who do you like more, Rob or Kennedy?
I just can’t choose, you guys are both great. It would be like choosing which of your kids you love more!
Finally, where can folks go to find out more about you?
I would send folks over to bigmarketingideabook.com where you can pick up a copy of the book we’ve been talking about.