Entry-Point Offer Checklist
First it should be an impulse buy or a low barrier to entry. Impulse buy or low barrier to entry. This will vary a lot based on your industry. In this case, if you are B2B, if you are selling to businesses, most people at companies, most people in businesses, can pretty much buy anything if it's under $500 bucks. That's been my experience. Most people and most companies have approval to spend $500 bucks. If you're talking B2C, individuals, people will pretty much buy if it looks even a little bit, if it's less than $20 bucks, they're in if it's less than $10 bucks. It doesn't even have to look all that cool. We just love buying stuff. It's like the only thing naughty that we're still allowed to do. Speak to the conversation your audience is already having. Are you trying to start a new conversation, or are you speaking to one they are already having? This is when we get into the triggering event. The triggering event should set up the requesting action. Don't try to start a new convers...
ation. Engage with conversations that are already taking place. Is it an impulse buy? Does it speak to the conversation that's already happening in the marketplace? Here's a biggie. Useful but incomplete. I know the dosing guidelines, is that all I need to know?
No, there's a lot more.
Of course there's a lot more, yeah! Of course there's a lot more. You have a wick. You're not going to make a very cool candle with just a wick. Right? Useful but incomplete. Now this does not mean bait and switch. Useful. It should be intrinsically useful. There should be something there but it is incomplete. In the survival and preparedness space, we're able to say okay, great. You've got this really cool survival lighter. But did you know that fire is just one step in a five-phase, in the five pillars of preparedness? You need fire, you need food, you need water, you need shelter, you need one more that I can't remember at this particular moment in time. But you get what I'm saying, right? We're able to position the lighter, not as a stand-alone thing, but as a piece of the overall desired end result. You bought this because you want this thing. This is a great first step, congratulations in taking it. Now if you want to continue this journey together, you need this and this and this and this. And we've got it all for you right here wrapped up in a pretty little bow. Got me? It should promise a specific benefit. They should be able to know within a second of seeing what your entry point offer is that I get it, I understand it, it's for me. Remember when I talked about the Vote for Pedro offer? With Digital Marketer Lab, used to be? You're gonna get this and this and this and this! We do calls and we do these other things. It's gonna be really, really, really great and you're gonna love it! Ahh! It's gonna change your life. And we said, or do you want just learn how to do boosted posts on Facebook? This one specific thing, it's only seven bucks. I get it, I understand it, I'm prepared to take action. Now once you've got there, you can talk about the big. You've earned the right, you've earned the time. Ideally it delivers a quick win or a little victory. That's your big boy. Boy, if you can pull that off, that's, remember we talked about delivering the a-ha moment? Hope and progress? That's what I meant. Every single one of these things connects back together. Remember I said you should be delivering the a-ha moment as a part of the consultative sales process, or during the consumption of that entry-point offer? That's what I mean. Quick win, little victory. It should, of course, create a micro-commitment. There should be a little bit of money, a little bit of time, a little bit of both. If there's no commitment of money, if there's no commitment of time, it is not a commitment. Period. No commitment, no entry-point offer. It might be a lead magnet. It might qualify at the subscribe stage. If somebody registers for a demo but that don't show up, they're not a convert. They're not a convert. Registering is free, it takes no time. They weren't excited and interested enough to actually show up. You've gotta put them back into some type of re-engagement, send them some more content, do some re-targeting.
So if you're charging for the micro-commitment, do you have any sort of formula in terms of what percentage it should be of your core offer price?
Yeah, it's less about a percentage of the core offer, and more about just being that impulse buy. What's amazing is, the act of, once a purchase is made and you have the micro-commitment, it really doesn't, whether somebody paid $500 or $20, it really doesn't matter. They're kinda in it. It's like in for a penny, in for a pound, kind of thing. Now, you still gotta regulate what is the extent of the ask. So if you go to somebody and you're like, oh I'll buy this thing for seven dollars. Okay great, now the next thing we have is $20 grand. That might be a little strong. And that's where testing comes into play. Sometimes, you know, usually if you're selling online, if your entire sales funnel, your entire process, is happening on the web, usually you're better off offering a lower ticket and marching them up. You could also bundle some type of a consultative sales process with it. If you got this, we also would love to talk to you. Let's have a 20-minute phone call so we can give you some specific, and on that phone call, that's when you upsell them up to the big. If you're selling in a face-to-face environment, you can afford to go really high and work your way down. That's what they do in the mattress business. Anybody ever went and bought a mattress? They're gonna have you go and lay down on the most expensive one they have. Like, what do you think? Oh, it's so comfortable. Yeah, it should be it's $12 grand. You're like, you gotta be out of your frickin' mind. So you start going down and you're like, okay, this one still feels pretty good and it's reasonably priced. If they had you start low and go high, they've shown you would wind up, because now you're comparing it to essentially a brick, so that not brick is feeling pretty good. So if you're selling face-to-face you want to start high and march them down. Stick them to the ceiling, mark them down. Online, this is why digital is different, people have the ability to go, nope, I'm out. When you come into the mattress store and the person's like it's $12 grand, most people don't like pop up and just flee. The social decorum and just all kinds of stuff, they just won't do it. Same as if you're over the phone. THey're not going to like (fleeing noise) But online they're like, that ain't it, back button. So generally you've got to be a little bit careful with that and march them up. But there's not like a rule of thumb in terms of the percentage. Just, if it would feel weird, moving too much. Sometimes you got to put another one in there. And if you only have a really high ticket price point, then usually you're better off with an entry-point offer, having an entry-point offer that either includes a webinar or a special training. And on that webinar and special training you make your bigger offer because now you've got a commitment of money plus a commitment of time with the webinar, two steps, two dates. That make sense? Or having them register for a demo or some type of sales consultation call. Because now they've show up for that as well. Yeah?
I was gonna ask, can you talk about maybe an example of where an entry-point offer was, let's say, almost too strong where you get a ton of people converting on just that micro-commitment but then the next step may not be happening as you'd like?
Yeah, that's what we did with the flashlight. Should I do the flashlight example? That crushed! I mean, we were so excited. We're like, we're rich! We sold tens of thousands of flashlights and were so excited. We're like, scale! But we didn't look at the next step because we were dumb. I wish I had a great excuse. We didn't look at the next step and see, yeah, but the goal is not to just get conversion. Just like the goal is not just to get first dates. Like, yeah, a ton of first dates, that's awful! That's the worst thing in the world. We found that these people who bought the flashlights weren't ascending and the reason they weren't is because that purchase did not, in and of itself, inform an ideal sales conversation. Does that make sense? So we got a micro-commitment, we got a little bit of money, but I wasn't able to say, alright, now that you bought this like flashlight that's cool looking, kind of tactical sort of the thing, since I know you're obviously interested in survival and preparedness because you bought a flashlight. You're like, no I'm not, I just wanted a flashlight. Does that make sense? That's where you can get off. And that's where it's always a balancing act. Do we want scale? Do we want quality? And that's a function of how much do you have to spend on acquisition, what's your throughput on the sales side? If you've got a big sales floor then, heck, send a bunch of flashlight people. Maybe they can close them. If you don't have a big sales floor, then you want to close that valve a little bit and only let the highest quality through. That's, it's not like, it's not a binary thing. It's one of the levers that you can pull up and down, depending on what's there. That was a case where we just super screwed up. Yeah. High perceived and high actual value. High perceived value is obvious. If it's not, if it doesn't look cool, if it's not something that somebody actually wants, then they're not gonna buy it. Why do you think it needs to have a high actual value? Why does it need to have a high actual value? What do you?
So they come back. So they come back and buy more from you in the future.
Let's think about, so you're right, let's go back to the value journey.
We've got the convert stage. If it's not a high actual value then what doesn't happen? What stage of the value journey do you get stuck in?
Well, there not gonna advocate for you.
Well, they certainly won't ever get there.
Yeah, the excitement stage. If, so it looks really, really cool, it looked super cool, it sounded really cool, I got it, meh. I got it, meh. Not high actual value, I'm not excited, we're not going to ascend. We had a similar issue happen where we had some stuff that we thought was really, really, really cool that we imported and it was just crap. People were like, hmm, this ain't it. It's got to be good, it's got to be good. And then, again, it should funnel seamlessly into the core offer. That's kind of an overarching way of saying it should set up an ideal sales conversation. It's got to happen. It needs to set up that ideal sales conversation. You've got the purchase, we understand our ideal sales conversation, we understand the triggering events. They're gonna cause people to become aware of us. Now what we need to do, obviously, hopefully you have a list of entry-point offers. I want you to star the one that checked the most boxes. Star the one that checked the most boxes. That's the one that you want to start with. Now, from a scale perspective, you want a bunch. But star the one that checked the most boxes, that's where we want to start.