Buckets of Assets
Tell everybody who you are and what you do.
I am Diana Scheel, I am Cat In The Moon Photography in the Seattle area.
Gotcha. Cat In The Moon Photography. Do you take pictures of cats?
I do not. (laughing) Well, I can. I can.
The deception is real. Why the name the Cat In The Moon Photography?
Cat in the moon is kind of a play on the name Diana, which is goddess of the moon and goddess of the hunt.
Wow. Run that back to me again, I did not connect the two at all. (laughing) Cat in the moon is a play off Diana. Billy's a play off of, wait, hold on.
Diana is goddess of the moon and goddess of the hunt, cats are hunters.
Alright, goddess. Let's get to the goddess of your business, right now. You do photography, what kind of photography do you specialize in?
Family portraits. So, this exercise we're about to do right now is a little bit more complicated than the sales process, but this is how you make money with this paid advertising stuff, okay. So, le...
t's go to the worksheet and I'll explain it to you for a second. We created this worksheet called your bucket of assets and literally all we want to do at first is just list off every product and service that she has and everyone at home, you guys should be doing it for yourselves at the same time, okay? So, let's talk about it, your products and services. What do you got? Give me one, for example.
Well, I do senior portraits, like schools.
Like high schools. See, I didn't know if that was like old people. (audience laughing)
Old people come up to me and I'm a senior.
You should have an Instagram page, old people doing things and then just have like old people doing cute things. So, senior graduation?
Yes, yeah. Weddings. Small weddings, not large weddings.
Family portraits, pets.
Okay, you'll do portraits.
Okay. Understanding that. So, portraits. Tell me more. Which one do you like to do the most?
Ah, as we talked about earlier. So, do you also like to do weddings.
I hate weddings. (laughing)
Watch this. This is actually important. And I'm glad you're saying this. Because as everyone, we are building these businesses and going through all of this complicated sales stuff, if you don't like it, does it even matter? So, let's take it out. (Diana laughing) I'm gonna erase it. I'm actually gonna take the time to erase it completely from our board because you don't like to do it. Do you like to do the senior graduation stuff too?
I do. Yeah.
Okay, cool. So, watch this. Let's focus on a campaign just to do that since that's your thing, fair enough?
Okay, so, when we're doing this process over here, this bucket of assets, and we're laying out each product and service, let's just keep this person in mind, the senior graduation. Let's also understand the audience that's with this, are the senior graduation pics for the senior?
Oh my God, damn I'm gonna do these pictures, mom, really? I don't wanna do this anymore, I've been doing it for years, right? So, this is for mom.
Or dad. Dad don't admit it, but it's for dad too. So our customer is who? Mom. Yeah, it's parents, but we should be talking about, because mom's gonna do it, dad will be like, yeah, we should do it, he'll never do it. (audience laughing) But mom, and watch, is that true in every case? No, but you have to stereotype to be good at this stuff. It's the truth, right? So, our focus is moms who got seniors in high school, okay. And what I wanna understand is the different things that they can buy from you, be as creative as possible, anything you charge from in your career and let's just start spitting those out.
Okay, what does that mean? Prints.
Canvas prints, metal prints.
Wait, I'm fifth grade. (Diana laughs)
Fifth grade, I don't know what canvass means, I don't know what metal means.
The image in reality, not digital.
Gotcha. So, printing on paper.
Paper. That's what I use too, the basic one. Okay, printing on paper, what sizes?
All sizes, whatever they want.
You've got to be specific. So, this is a challenge and you'll see why I'm really probing her, not going past this stage, because it makes the rest impossible and it misses all the opportunity. So, I'm actually gonna apologize, if it seems like I'm beating you up. I just really have to know this. So, when you do prints, prints on paper. What different sizes do you offer?
I don't know the sizes. What are they?
Eight by 10, five by seven.
Eight by 10, really fast. That's one product.
It's its own.
What's the next one.
11 by 14.
11 by 14. That's another product. What else?
Five by seven.
Five by seven, wallet. Wallet size, you guys are starting to see where I'm going with this, okay. Wallet size. Now, how much does it cost for each one of these?
It depends on what package they buy. (Diana laughs)
Well, that's according to this, but for you, the cost to actually do one of these is incrementally more as the picture is bigger, right?
For me, my personal cost to do that is pretty cheap. I can get,
She's giving away all her secrets now.
Don't tell them that. (Diana laughs)
Just give me a ballpark.
Like three bucks.
Cool, so this is like three bucks, then the bigger it is, it's like four, then there's five and six, okay. Whatever, this one's actually is really cheap. This is just the wallet size. So, that's one thing that you sell is prints on paper of different sizes and each one is its own product.
Okay, now let's move on. What else can you sell? Is it just the pictures? What about frames?
Never thought of it.
Okay, perfect. So, now you sell frames. (laughing)
Because again that's exactly what I talked about at the beginning of this exercise, is your stopping at that one thing, you've put, we, we've, we because I'm guilty of it too, we put ourselves in a box of this is what we do and then you stop. And that lack of creativity of playing in that box makes it impossible to get your average ticket order up. Meaning, people spending more money with you because you say all I do is pictures. But, what percentage of people right now if you said, hey, would you like me to frame them too, would do it?
That's a lot of people. (Diana laughs) That's a lot of money in your bottom pocket, does she have to do it or can she make a partner with the person down the street because you already know somebody who does frames anyway, right?
Yeah. (Diana laughs)
Right? So making stuff up and I'm getting there. So, we've got frames, you can sell, okay. What else?
Cards. See? Okay. Cards. That's genius. Got it. What else?
Mugs. Man, look at this? What else? Okay, so watch this. They just put up a sign that said, don't block the white board. (audience laughing) I was blocking by handwriting. Okay, so where I'm going with this back to this. The first step is your brainstorm all the different stuff that you can sell and then after that we have to understand where it would best be placed. So, I'm gonna explain to you what each one of these are. So, I have one bucket, it's called the fire under ass set. Anybody guess what that bucket's for? It's for products or services you could offer that are gonna make people take action immediately. It's the extra push, the extra incentive that you can give right away to get someone to take action now. So, in this particular case, something that's cheap, because it doesn't cost her a bunch of money, and that's really small, is hey, by the way, if you order right now, I'll also throw in the wallet size, right? We're starting to understand strategically how we can use the different products. Next, is the bump. The bump is usually when people are buying online and it's usually just a check mark or Amazon will say, would you like to also add this to your cart, it's the do you want fries with that order? To me, frames are the bump. They're a little more expensive than I usually like to have them, but who has a picture without a freaking frame? (laughing) No one, right? Is it a thing, pictures without a frame?
Well, you can do canvas and metal.
I didn't ask you. (laughing) The point is, you get a frame, so, that could be our bump. And then another one is, what could be the upsell? So, if your whole theme was, get your eight by 11, do you think on the next page or on the phone you say, cool, do eight by 11, well, do you guys live in a home? Great. Do you have a living room? Cool. Do you have a fireplace? Nice. What's above your fireplace? Nothing. Cool, would you also like to add, what's a big size?
A 45 by 370 foot. (laughing) A 370-foot picture above my fireplace, cool and that can be the upsell and then you have the downsells, when you ask them for these big things, what can you downsell them? So you say alright, maybe I exaggerated and this was way too big, so maybe just a 50 by 100 frame.
There you go. A reasonable size.
It's something reasonable, right? Downsells and then you say, alternative sells. You have to figure out what you can offer somebody if they don't like your original offer. So maybe someone says, I hate pictures. Seriously, I don't want them around my house, they're a pain, I have them all on my phone. That's a real thing. Some people think like that. Cool, I have this mug for you. See, and now you're not letting the customer get away, you're identifying different ways to still monetize them and then lastly, we have continuity sells. Continuity sells is the recurring revenue, the people that are billed and get paid, that pay month after month, after month because what I found with a lot of start up entrepreneurs, nothing is more stress-relieving than knowing you have a client that's going to pay you again and again and again and again. They're in a contract, it just makes us all breathe easier, right? So, for you, what's something that you can continuously charge them for?
I can't think of anything for senior portraits, but like family portraits, I can.
But watch this, let's not run away from a challenge.
Okay. (Diana laughs)
So, this is all the same sales process, because you're talking to the same customer. So, we can't just switch it, we've gotta stay in lane. So, here, what is something that she can offer creatively that could get people to buy again and again? I'll give you an example. Most seniors do what next?
Go to college.
Go to college and then that the first time your baby leaves the nest, they're gone. You don't see them so much anymore. So, do you think it could be a cool continuity upsell to say, hey, just pay me 300 bucks a quarter, and then every quarter, I'll coordinate a time to get the family back together so we can at least get one picture a quarter together. I just made that shit up. (laughing) That's the point though is a photo is a photo. It's just how you offer it and how you sell it, but this is really the key to capturing and landing pages is to be able to understand how you can use all of these different forms of sells, different products, different services. So instead of just making 200 bucks per customer, you could potentially make 2,000 and nothing changes. You don't have to incur additional cost to make that much more money, you just have to ask. Isn't that cool? You've just gotta ask. So, what I wanna do. Thank you. You're good now. I appreciate you.
Thank you. (audience applauding)
I didn't beat you up too bad. So, that's what I really want to spend time in this section doing, is walking through this process with you guys and you guys at home so you can understand right now, this very second, after this training, how you can make more money. Nothing would make me happier than if one of you direct messaged me on Instagram and said, hey Billy, I had a sales call today, or I had an order and I picked up the phone, in that call, I also asked them if they wanted this and they bought it. Raise you hand if you believe you can do that right now this very second to make more money. I believe you too. You sold me. Fine.