GENIUS Strategy To Make Everyone Want to Buy Your Stuff
Summary
- To make more money, improve your offer by understanding "willingness to pay." Focus on features that people value the most.
- My data shows that exclusive access, content, events, and newsletters have the highest willingness to pay.
- Personal calls can improve conversions. When I started Gym Launch, I did daily calls with customers, which helped boost sales.
- If replacing yourself on calls, ensure your team can answer questions as well as you. Train them rigorously.
- People buy because one component of your offer is worth the entire price to them. Focus on making each bonus valuable individually.
- For events, always announce the next one and lock access until after a commitment period to maintain engagement and reduce churn.
- Upsells should be offered at the point of greatest need, not greatest satisfaction.
- Successful customers should be interviewed for testimonials and content, following a structured "epiphany bridge."
- Attract better customers by being willing to turn away less ideal ones. Define clear qualifications based on your best customers.
- Differentiate high-ticket and low-ticket offers based on implementation needs and marginal costs.
- Only add high-ticket offers when there's clear demand from your existing successful customers.
- Fight negative online sentiment by being louder and more visible with positive content.
- Transition to higher ticket items gradually, using customer success milestones as activation points for offers.
- Consider mid-range price points, like $700/month, which might balance customer affordability and business profitability.
- Small group settings are the most profitable way to offer high-value services.
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How To Take Action
I suggest implementing the following strategies to improve your business, whether you’re a small business owner, entrepreneur, or focused on personal growth:
1. Enhance Your Offer:
- Understand "willingness to pay" by focusing on features people value most.
- Identify what makes each part of your offer individually valuable. Make each bonus worth the entire price to them.
- Exclusive access, content, events, and newsletters have the highest willingness to pay.
2. Personal Engagement:
- Engage directly with your customers through personal calls or group calls. This boosts conversions and shows high-value support.
- If you're replacing yourself on calls, ensure your team is well-trained. Gradually reduce your involvement while maintaining quality.
3. Offer Exclusive Access:
- Add exclusive elements like private content, events, or newsletters to create value.
- Announce the next event during the current one and lock access for a commitment period to reduce churn and maintain engagement.
4. Use Testimonials Effectively:
- Interview successful customers for testimonials. Use a structured "epiphany bridge" format to highlight their transformation.
- Share these testimonials as content and ads to attract similar high-value customers.
5. Attract The Right Customers:
- Be willing to turn away less ideal customers. Define clear qualifications based on your best customers.
- Focus your marketing on these qualifications to attract higher-value clients.
6. Balance High-Ticket and Low-Ticket Offers:
- Differentiate offers based on implementation and support needs.
- Only introduce high-ticket offers when there's clear demand from successful existing customers.
7. Fight Negative Sentiment:
- Combat negative online sentiment by being louder and more visible with positive content.
- Focus on delivering value and maintaining a strong, positive presence.
8. Pricing Strategies:
- Consider mid-range price points (e.g., $700/month) that balance customer affordability with business profitability.
- Small group settings are highly profitable and offer high value.
By focusing on these strategies, you can make significant improvements without spending much money or time. Prioritize features that offer high value and engage with customers to build lasting relationships and better your business.
