Splinter Your Entry-Point Offer and Lead Magnet
Splinter your entry-point offer and lead magnet, alright. So we said before this is where we want the relationship to go. We want to be able to, we want to be down on one knee saying will you marry me, knowing full and well that the answer is going to be yes. But we got to remember that this is where it needs to be begin, or having lunch at Wendy's because they accept the dining card so your parents are paying for that and you don't have to. Always the romantic, right? So this is where we want it to begin. So we get into this section. We're asking ourselves what is our let's meet for coffee? What is our let's go grab lunch at Wendy's? What's a little micro-commitment that we can ask people to make, right? That's what we're trying to get at. What's this version for our business? We need to get that first date if we want to hope to get a second one. The tool that we leverage at this particular stage is what we call an entry-point offer. An entry-point offer. Entry-point offers establish ...
micro-commitments that convert strangers into friends. They convert strangers into friends. Any of you guys remember the old Columbia House records offer? Columbia House records, anybody? Remember for like a buck you can get like 20 CDs. Am I the only one that fell for that? Come on guys, I can't be the only one that did that. You know before it was a dollar, it was a penny. You would literally tape a penny to the postcard, send it back in, and they had you. Now a penny, a dollar, it's nothing, right, but when you get out your wallet and you put a dollar in an envelope, or you get out your credit card and you spent a tiny little bitty bit of money, that relationship is changed. You're no longer a prospect, you're now a customer. The relationship has fundamentally changed. It doesn't matter that it was just a dollar. It doesn't matter that you just met up for coffee. The relationship has changed. It's taken that left, that good left turn. The way that we as human beings show commitment are in two forms, the first is time. Humans show commitment in their calendar. And then the other example is, the other place is money, in our wallets. Calendar, wallet. So when we're asking ourselves does this qualify as a conversion? Does this qualify as meeting that convert stage criteria? Does it qualify as a micro-commitment? Are we asking for a little bit commitment of time and or a little bit commitment of money? Let me give you some examples. One of the, there's a seller on Ebay who for like eight or nine bucks will sell you 100 guitar picks, 100 guitar picks. Now why do you think this person is selling 100 guitar picks for like eight or nine bucks? There's no way you're getting rich selling guitar picks for eight or nine bucks. Well this person also happens to be one of the top sellers on Ebay of antique guitars. I don't know about you, I've never bought a guitar pick in my entire life, you know why? I don't play guitar. So this is a micro-commitment that says if somebody buys this pick, there's a good chance that they play the guitar. I'd say an excellent chance. My business partner for a time before he sold the company had the, he was the largest supplier of candle making ingredients. I don't know, supplies, thank you. The word supplies, which was gone from me. Thank you for saying. He was the largest seller of candle supplies in North America. The way he started this business was by selling wicks. He sold wicks at dirt, just dirt cheap. Because, I don't know about you, I've never bought a replacement wick for a candle. Right, if you're buying a wick, it's because you plan to make a candle. Now he wasn't getting rich selling wicks, but when somebody bought a wick it was very easy to say, can't help but notice you bought a wick. Guess you plan on making a candle. Want to buy some of our other supplies as well? Right, can't help but notice you were willing to meet for coffee, guessing that means you're probably not seeing somebody else. You want to go grab dinner sometime? We'll come back to that. That assumptive guessing, I'm assuming this is true because this action was taking place, therefore this is the next logical step. We'll come back to that. For a time we were in the menswear business. We sold custom suits for one of our businesses. Brutal business, between seasons and sizing. We were terrible, but we had a really great offer. And that was we gave away cuff links. We gave away cuff links, why? Because if you buy cuff links, you probably own a French cuff shirt. If you own a French cuff shirt, you probably own a suit. Got me, and that's what we were selling. What's your guitar pick? What's your cuff link? What's your candle wick? Let's get out of the physical products space. Let's get out of e-commerce. What about software? Demos, what's a demo? A demo and a free trial, right. People aren't just signing up for a 15 day free trial. They're not just saying, I want to sign up for a demo because they're bored, at least most people aren't, right. They're doing it because they have some intention. They have some plan of moving forward with that, right. Demos and free trials. What if you have a service company? Service company, furniture and steam clean. $20 we'll steam clean your favorite sofa and chair. That's a much smaller ask than hey, I know we've never met, can I bring all this equipment into your home, ask you to move all your stuff so I can clean your carpets? By the way, my name's Bob. Have you guys ever seen the site Fiver? Fiver is an entire directory of people doing just this. It's an entire directory of people going on first dates in the hopes of getting a second. 1-800-GOT-JUNK, a friend of mine's the founder and CEO of this company, they absolutely dominated this space because when you called any other junk removal service company, they answered the phone, junk removal? You got junk you want us to remove? Yeah, okay cool, we'll send somebody out to give you a quote. People were like why do you need to send somebody out, I just need you to pick up a couch. Well I need to see how big the couch is. It's the size of every other couch you've ever seen in your entire life. No one would ever just give a quote. Everybody else said no, no, before we're going to be able to do a transaction, we need to send people to your home. We need to send at least two strangers into your home to look at all your stuff, to judge you for your mess because you're probably a little bit of a hoarder. Then we'll tell you how much money you have to give us for us to haul it all away. They completely flipped the relationship. It's the relational equivalent of hey, can I buy you a drink? Yeah, sure, that'd be nice, okay can I have your number first? And can you give me on a scale from one to you're willingness to perhaps going out to dinner with me later on in the week before I make the investment in buying you the drink? It'd be super freaking weird if we did that, right. And yet in business we want to do it all the time. What they did at 1-800-GOT-JUNK is they said, you got an old funky couch? You got an old funky TV? We'll come pick it up for $20. Because you know what they knew? They send somebody out with a big ole' truck, they got a funky old TV, funky old couch, they got a bunch of other funky old stuff too. Their business six x'd in a matter of years because of that one offer because they were willing to ask their customers out for coffee and everyone else wanted to propose marriage. Here's how we do it at Digital Marketer. So I mentioned before that we have our main subscription services called Lab, right, and when you join Lab you get access to all these different execution plans, all these different reports. And we found in the beginning that nobody wanted to buy it because the offer was when you sign up you're going to get access to a whole bunch of stuff and it'll be good and stuff. Anybody every seen the movie Napoleon Dynamite? Okay, I call this a vote for Pedro offer. Vote for Pedro, I'm going to make all your wildest dreams come true. Right, that was the thing, there's no specificity to it. I didn't know what I had, like so, I have to give you money and then I get to see what it is? So instead we said, okay look, here's the deal. This is when before it was even called Boosted Post, it was brand new. It was when it was called Promoted Post. So what we did is we took one of those promoted posts, or one of those execution plans, increasing engagement with promoted posts, and we splintered it out. Now normally to be a Lab member, it was $386 for the year. We said you can have access to one for $7.00. Then it was very easy when somebody bought this one to say you now have access to one of our execution plans. Would you like 30 some odd more just like it? You can sign up here, take a trial for just a buck. We went even beyond that. We said you know within this is a really cool collection of examples, let's splinter that off as well. And let's give that away for free. So that now we could run ads in Facebook that would say, hey nice to meet you, our name's Digital Marketer, can I buy you a drink? Can I get your number? Yeah, sure, that'd be cool. Alright, hey, since you're into social media you might be interested in this thing we have. It's just seven bucks, you want to go for coffee sometime? Yeah, sure, that'd be nice. Okay you have this one, would you like to get the rest of them? We should start dating. That made all the difference. That changed the whole game. We were willing to date our customers. Are you willing to date yours? Remember the job of the convert stage is not close the sale. The job of the convert stage is to get a first date. That is the job of the convert stage, to get a first date. So what is an entry-point offer that will lead your prospect to make a micro-commitment? What's an entry point offer that you can make that will lead your prospect to make a micro-commitment? At Digital Marketer, it's selling ala carte execution plans. It's allowing people to buy just one little thing, so that we can start that relationship. Share the rest and then upselling into a dollar trial. You can begin a relationship with us for eight bucks when everybody else wanted to charge 500. Alright, but how do we get their number? How do we make sure that if we don't close the deal the first time, we have the ability to follow up? Right, remember I started off saying, hey can I get your number? Maybe we can grab lunch this week. What's your hey, can I get your number? Tools and templates I found people love. Way more than a special report or a white paper. Give them a cool little tool that they can use. Spreadsheets for some reason are like magical. I don't get Excel personally, I've failed miserably every time I've tried to use it, but you give somebody a filled out Excel spreadsheet, they think it's worth like a million bucks. This particular one, it's the ultimate Facebook ad template library. It's literally just a collection of all of our different Facebook ads that we've run, breaking it down. Way easier to produce than a comprehensive special report. And yet because it's a tool, because it's a template, people like it. If you're in the e-com space, you can leverage a discount code, a coupon code as a lead magnet. This is an example here, surprise sale, Black Friday edition, enjoy up to 75% off, plus free shipping. Normally people would just send you over to the website. Not this one, you need to register to enter the sale, and then we will give you the coupon code. Register to enter the sale, and then we'll give you access to the sale page. Got it? Webinars, webinars are really great at delivering high value prospects at lower volumes. Typically we're talking about this stage, quality and quantity are opposite sides of the same coin. You can get more by exchanging the other. So in this case, free online training, how to structure and build a modern digital marketing team. Doesn't get a ton of sign ups, but the ones that he gets are super high quality. Incidentally if somebody registers for a webinar, they're a subscriber. They don't count as a convert until they actually show up and attend because that's when you got the commitment of time. So again, going back to us at Lab is when we said let's just give this thing away for free. Let's give away this call swipe file, collection of examples. Lists, people love that stuff because it's shortcuts. So question number three, how will you get their numbers so you have permission to follow up? What are you going to offer in exchange for the opt in? What lead magnet are you going to ask for at that point? For us it's a relevant template, case study resourcer tool. What is it for you?