Episode Transcript
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Speaker 1 (00:00):
What happens when you
finally follow an ad testing
process step-by-step.
Well, in this episode you'regoing to hear about an online
membership owner who turnedtheir £5 a month offer into
daily profits through testingtheir ads, and they got rapid
member growth from using my adtesting cheat code.
I got to hop on a call withthis person last week at the
(00:23):
time of recording this video,and it was such a treat.
They said that they were along-term business owner running
a faith-based wellness brandyou know, retreats, coaching but
the membership specifically andthey had tried to run ads
before and just tired of losingand just feeling unsure, you
(00:45):
know, and they had wanted to getoff of the social media hamster
wheel, so to speak to use thatcliche and just focus on growth
through ads.
So I'm going to tell you, ofcourse, what was working for
them quite well, or what isworking for them quite well.
But first, what wasn't workingis they never had a system
before and testing, in theirwords, felt confusing and random
(01:07):
.
But when it came to testingvisuals, they literally said
they should be doing it, butthey don't know how.
So they found the ad testingcheat code through this very
same podcast you're listening to, and they followed the steps,
Starting with testing the adcopy, first finding the best
version of ad copy and thenmoving on to testing some images
(01:28):
.
And when I talked to thisperson, they were just starting
to test different images, butalready seeing profitable ads
running to none other than a SLOfunnel.
That started with theirmembership, which is super hard
to do, and the initial resultswere actually really surprising.
They were profitable from thefirst day and over the first 10
(01:52):
days and I had a look at theirads.
They should stay profitable.
Here's the quick breakdown whenI talked to them, they had
spent just under 300 pounds andhad gotten 43 signups for their
membership in 10 days.
They had an order bump on thissales page, which was intriguing
(02:13):
that a very high percentage ofpeople who signed up for the
membership were taking the orderbump 50% actually.
And here's the very good news,this person has been profitable
on the very first purchase, asin her ads are running a
positive ROAS return on ad spendof 1.09.
Now you may be like wait Quajo,I gave Mark Zuckerberg $1 but
(02:37):
only made $1.09 in return.
What's so great about that?
Well, I'll tell you what's sogreat about that.
That's the first month purchaseof their membership right, but
people stay in a membership.
Membership is kind of like theholy grail of online business
because it's recurring revenue.
Many membership owners have towait until like the second or
(02:59):
third month to be profitable.
But if you're profitable off ofthat very first purchase hint,
because you set up your SLOfunnel the right way, as in
having a good, aligned orderbump, that is very, very, very
good, and now they are gettingthree to ten signups a day, and
so I'm going to give you some ofthe same advice that I gave
(03:22):
them on how to make your adswork better.
Okay, now, obviously,disclaimer you are almost
guaranteed you are guaranteed,in fact to lose money on
Facebook ads, because Facebookand Instagram ads requires
testing through, as it don'twork, in order to find the ads
that do work, and I would neverencourage you to just blindly
trust the advice of a randomFacebook and Instagram ads
(03:45):
manager from the internet orfrom the podcast.
You must do your own testing.
Okay, that's the disclaimer.
What I'm sharing is what hasworked, and I've been managing
ads for the better part of thelast six years, so, okay, might
I add that this person has hadsuccess with an imperfect, a not
(04:06):
perfect ad campaign.
There were several in our shorttime together.
There were several mistakes.
During the time they sharedtheir screen with me and we
talked, which was very short, Isaw a handful of mistakes as in
ways that they could fix theirad campaign and begin to have it
set up better and have it workbetter.
For example, they were usingthe wrong campaign objective and
(04:30):
their targeting, while good,had a lot of room for
improvement, and they weren'teven using the best targeting
audience.
So here's what I told themSince they had positive return
on ad spend and they had askedhow to scale, I said scale 15%
every morning at the same timeevery morning, if you scale 15%,
(04:51):
that's a gradual enough scalethat the algorithm will not be
thrown off by this huge influxof ad spend dollars or pounds in
their case and the ROAS shouldhold but you know what I said to
increase revenue as in cashcollected up front.
Two things.
(05:11):
So if you're a membership ownerlistening right now make sure
you're doing these two things.
The first one was that theirorder bump was 50% of the people
who were getting the membershipthe core offer were also
getting the order bump andstandards should be like 20%.
So if you are way above thatstandard of 15 to 20% of people
(05:34):
getting your order bump, thenyou probably can make more money
right on the get-go by raisingyour order bump price.
Do so incrementally, not inhuge jumps, and then just
measure your average order value, aov, and maybe you do this
thing where you say it's $27 amonth or it's $297 a year in
(05:58):
annual discount right.
But let's say they came in at$27 a month.
Right at the end of that firstmonth when they would renew, you
send them an email, automatedof course, with a discount, that
says hey, I hope you're likingthe membership effectively, like
many others who want to takeadvantage of this, we're going
to offer you an upgrade to theannual plan.
(06:19):
In fact, if you take theupgrade now, you get two months
free, and only right here andright now, right.
So instead of $2.97 for theannual plan, you know.
And then you just you know,divide $2.97 by 12, it's $24.75,
multiply that by two for twomonths, and so then that's
(06:41):
$49.50, $2.97 minus $49.50.
Then you can say, instead of$2.97 for the year, you'll get
two months free right here,limited time, for just $2.47.
And so what happens is is apercentage of people will say,
hey, I am enjoying yourmembership, I would like to get
(07:02):
that discount off of the annualplan because I could see myself
using this longer.
And then you'll sell annualmemberships in the first month
of somebody, within the firstmonth of somebody joining your
membership, and so you'veupgraded them and you've got
more cash up front.
That is a technique that youcan use to get more cash sooner
but also break even sooner ifyou're not breaking even on the
(07:27):
front end, like this person Iwas talking to, who used my ad
testing cheat code.
By the way, you can get the adtesting cheat code because I
believe you, like many others,deserve to cut your lead cost
from 25% up to even cutting itdown to 60% of what it was, just
by following the same frameworkthat I use every time in my
(07:49):
client accounts.
That is $37 for you.
It is discounted to $17.
Take advantage of that.
Today.
In the show notes below, onemore piece of advice that I gave
this person was that well, theydidn't have an upsell.
The key to a profitableself-liquidating offer funnel,
(08:10):
an SLO funnel, is to have a coreoffer, a order bump and an
upsell, because average coldtraffic that's not familiar with
your business coming to thatupsell power or to that SLO
funnel powered by Facebook andInstagram ads.
15% of the people that get thecold offer, let's just say, will
(08:31):
also get the order bump andanother 5 to 10% will get the
upsell.
So if you don't have an upsellon yours, you're leaving money
on the table.
Spend some time, ideate withChatGBT, look at your current
offers and decide what you caninclude as a very aligned upsell
an aligned upsell that alignswith the order bump and with the
(08:54):
core offer.
That way, you're serving thepeople who are coming to you and
your benefit and your businessis benefiting from that.
Because here's why this is worthit and why many people call
self-liquidating offers the holygrail.
You can run your lead magnetand you should if you already
have a funnel that's convertinglet's say, a webinar launch
(09:17):
funnel right, leads come ontoyour list and then they register
for the webinar and you make aprofit.
But the thing with free leadmagnets is that they do attract
a high percentage of people whoare just there to consume
information for free and thatwill never purchase something
from you.
That's part of the onlinemarketing game.
But with a self-liquidatingoffer funnel, if you do the work
(09:39):
.
The big benefit here is thateveryone that comes onto your
list is already a purchaser, andpurchasers are more likely to
purchase other things from yourbusiness in the future.
And, honestly, even if you wererunning a self-liquidating
(10:00):
offer funnel at a slight lossself-liquidating offer funnel at
a slight loss, so to speak asin you know, maybe your ROAS was
slightly negative you give MarkZuckerberg a dollar and Zuck
only gives you 95 cents back,right?
Well, I would take that,because that means that you're
probably still paying less toget a new buyer on your email
(10:22):
list than you would be paying toget somebody who downloaded a
free lead magnet on your emaillist.
And Everyone is created equally,right?
It's just somebody who buys,has the habit of buying and
already is in a mindset toinvest in themselves.
You don't have to sell themtwice, first on the concept that
(10:43):
they need to invest in theirown business, and second, that
you're the person they need toinvest with because they already
bought.
So they're in that mindset ofinvestment in their personal
growth, in their business growth, and then, when they see
another offer from you later ondown in your funnel, they're in
that mindset of investment intheir personal growth and their
business growth.
And then when they see anotheroffer from you later on down in
your funnel, they are morelikely to purchase that offer.
And I'm going to say something abit controversial here, but I
(11:06):
think you need to hear it.
I know I did in the past, whichis that I did have a free lead
magnet, and you know what Inoticed.
I did have a free lead magnetand you know what I noticed when
people downloaded that freelead magnet, fewer of those
people took paid action later onin my funnel and the open rates
of the lead magnet were well,they were what they were.
(11:29):
But here's what I want to sayis, when I started offering,
instead of that free lead magnet, just a low ticket offer to
somebody on this podcast or whenI guest speak on other podcasts
, yes, the number of people whoopted in went down, but their
engagement in my email list wentup and they also, surprise,
(11:53):
surprise, purchased other things, either directly from my
self-liquidating offer funnel,which starts with the ad testing
cheat code, the order bump isCanva templates and then the
upsell are Facebook andInstagram ad copy templates.
Both the Canva and the Facebookand Instagram ad copy templates
(12:14):
are just templates of ads orcreative that we've designed,
that has worked in the past andgotten high ROAS for clients,
right.
And so then I realized what'sgoing on here?
Am I doing a disservice to youby just offering something
that's free, because here's whatI don't like about myself.
(12:35):
Maybe you're experiencing thesame thing, but I have realized
I consume so many YouTube videos.
It's great, it's free.
I watch a bunch of stuff aboutbusiness, but it's kind of just
this dopamine hit that I getwhile I'm walking outside doing
my laps up and down theneighborhood block.
I'm like, ooh, I learnedsomething new.
But I had to be honest withmyself how much of this new
(12:58):
stuff was I using andincorporating in my business?
Not very much, and I wasconsuming a couple hours of
content a day.
Now lots of folks will downloadfree lead magnets and think,
because they went and did thatdownload, they got that dopamine
(13:21):
hit.
Yes, they feel good, yes, butare they actually going and
using that free lead magnet?
It's a small percentage ofpeople that do.
Most of us not you, somebodyelse who's listening to the
podcast download things that weintend to use and then don't use
them at all.
And so I made that switchbecause I really want to help
(13:44):
people and by offering not afree lead magnet, but something
that does take a bit ofinvestment, because you know how
it is.
I know you've heard this before, but when somebody has skin in
the game, shoot.
When you have skin in the game,you take action a higher
percentage of the time becauseyou're like I just paid that
money, I don't want to lose thatmoney, so I better get on it
(14:09):
and use the thing that Ipurchased.
That's how I am.
Maybe you're like that too.
Statistics say that otherpeople are, and I made this
switch because more people whoare inside of my business
ecosphere.
Winning is better for them andtheir businesses and for me, and
(14:32):
I would wager that the same istrue or is going to be true, if
you get rid of your free leadmagnet and offer something of
value instead.
Your lead magnet is valuable,but I specifically mean offer
something for a price instead,and you might experiment.
Just offer it for a dollar,maybe it's $5 or $7.
(14:53):
But look at your email openrates.
Compare the people who havepurchased that low ticket offer
from you versus just gotten thefree lead magnet, because they
should be going into the sameemail, nurture sequence
eventually right and see howtheir open rates are, their
click-through rates are, gaugewhat other things are purchasing
(15:14):
and just measure the differenceand, hopefully, the benefit for
your business.
Okay, and it's just a test.
If you see no difference, goback to offering your free lead
magnet, but at least you put inthe work.
I love that quote by ThomasEdison Opportunity.
Usually we miss out onopportunity because it's dressed
(15:35):
up in overalls and it lookslike work.
Until the next time you hearfrom me, take care, be blessed
and I'll see you in the next one.