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The 5-Day Challenge Funnel

Jun 9, 2024

Lecture Notes: The 5-Day Challenge Funnel

Introduction

  • Speaker: Jac Hopkins, host of the Online Course Show
  • Guest: Michael Tucker, runs an agency helping course creators implement 5-day challenge funnels
  • Topic: 5-day challenge funnels for increasing traffic and converting that traffic into sales for online courses
  • Goal: Understand the power of these funnels and how to set them up

Michael Tucker's Background and Experience

  • Started in digital marketing by helping a friend with a real estate course
  • Discovered the effectiveness of virtual events, specifically the 5-day challenge funnel
  • Transformed a business making zero dollars into one making $750,000 in 10 months using this method
  • Key Insight: Virtual events build trust and rapport with the audience more effectively than traditional webinars

What is a 5-Day Challenge Funnel?

  • Definition: A virtual event spanning 5 days, 1 hour per day, where participants are challenged to take action towards a specific goal
  • Objective: Move participants from cold leads to warm customers
  • Structure: Day-by-day plan that leads to an offer at the end
  • Benefit: More interactive and engaging than webinars, leading to higher conversion rates

Steps to Setting Up a 5-Day Challenge Funnel

Planning

  1. Set a Date: Determine the event date with enough lead time for promotion (4-5 weeks out)
  2. Promotion Period: Launch promotion 2-3 weeks before the event start date

Content Organization

  1. Day 1: Introduction and origin story, overcoming participant's misconceptions and setting the vision for the week
  2. Day 2: Provide core content—actionable steps and homework
  3. Day 3: Additional content and tasks to build on Day 2
  4. Day 4: Present the offer along with more value; half-day of teaching
  5. Day 5: Recap, further teaching, and reinforce the offer; wrap up

Engagement

  • Create homework or actionable tasks for participants each day
  • Encourage interaction and build a supportive community through Facebook Groups or Zoom

Execution

  • Live vs. Evergreen: Start with live events to gauge audience reaction and interaction
  • Technology: Use tools like Zoom for live sessions and Facebook groups for community interaction
  • Promotion Tools: Use a funnel builder like ClickFunnels or Go High Level for capturing leads and managing sign-ups

Post-Event

  • Offer Period: Close cart a few days post-event, typically by the following Sunday night
  • Follow-Up: Send reminders and information to participants who haven't converted

Scaling with Strategic Partnerships

  • Identify Partners: Find businesses or individuals with complementary audiences
  • Propose Value: Offer joint ventures to access new audiences, sharing revenue
  • Execution: Maintain high-value interactions to make the partner look good and ensure customer trust

Tools and Automations

  • Primary Tools: Zoom, Facebook Groups, ClickFunnels, Go High Level, challenge-specific softwares like ChallengeFuel
  • Automation: Automate as much of the process as possible to save time and reduce manual work

Summary

  • Versatility: The 5-day challenge can be adapted to many niches, focusing on partial dream outcomes to draw in participants
  • Maximizing Reach: Use live events initially to foster engagement and test the process before moving to an evergreen model
  • Michael's Agency: Specialized in creating and running these challenges for course creators

Resources

  • Michael Tucker: VirtualStageSecrets.com for further information and resources
  • Jac Hopkins' Newsletter: Free weekly tips for course creators at onlinecourse.com

Full transcript