Improving Your Offer

Jul 18, 2024

Lecture: Improving Your Offer

Key Concepts

Willingness to Pay

  • Definition: The features that get people to want to buy a product or service.
  • Goal: Plot features to determine highest willingness to pay.
  • Top Features:
    • Exclusive access
    • Exclusive content
    • Exclusive events
    • Exclusive newsletters (assumed video or written content)

Real-World Application

  • Example: Gym Launch
    • Increased conversions by offering daily calls with Alex.
    • Calls were structured to quickly resolve issues and answer questions.
    • Lower headcount and higher frequency = more value.

Handling Team Calls

  • **Improving Team Skills: **
    • Address customer value perception.
    • Train team members to improve presentation and answering skills.
    • Possible gradual reduction of personal involvement in calls.

Value Differentiation

  • High-Value Bonuses:
    • Examples like fast credit repair methods.
    • Each bonus should be individually worth more than the total offer price.
    • Eye on different customer profiles (avatars).

Events and Upsells

  • Announce next event at current event.
  • Plan for long-term membership benefits (6-12 months).
  • Control upsell timing to coincide with attendees' greatest need.

Content Strategy

  • Successful student interviews
    • Internal and external results before and after the service.
    • Addressing concerns and decision-making process.
  • Lifecycle ads using success stories.

High Ticket vs. Low Ticket

  • Differentiate by offering high support and implementation help for high-ticket.
  • Federalize clear distinction between scalable vs. non-scalable offerings.
  • Wait until customer demand organically arises before offering high-ticket.

Combat Negative Perception Online

  • **Principle: **Drown negativity by being 10x louder with positive content.
  • Do not acknowledge negative content.

Strategic Decisions

  • Pricing adjustments can make offers affordable even in clients' worst months.
  • More affordable tiers can lead to increased subscription longevity.
  • Small groups are more profitable for scalability.