"Should I Just Sell a Course?" — Transcript

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1. 0:00Hey Alex, my name is Alex.
2. 0:02And
3. 0:02>> [laughter]
4. 0:03>> I help people to be high ticket closers.
5. 0:05>> Okay.
6. 0:06>> So our price is 2K. Our CAC right now is
7. 0:084:1.
8. 0:09>> Yeah, but you're selling over the phone?
9. 0:11>> Yes. Uh BSL setter, closer.
10. 0:13>> Yeah, yeah. I think you're mispriced.
11. 0:15Typically phone sales products start at
12. 0:18around $3,000.
13. 0:20Uh if you're doing it like an automated
14. 0:21sales machine, like you actually have a
15. 0:22straight VSL to a checkout page is
16. 0:24usually where you'll be in that sub
17. 0:262,000 range. And so you're right on that
18. 0:28cusp where it probably makes more sense
19. 0:29to be selling like a five or a six K.
20. 0:31And instead of selling the course, ask
21. 0:33the question like, "What would I need to
22. 0:34add to this thing to make it worth
23. 0:36$6,000 or $8,000?" Because you're
24. 0:39already getting the people who want that
25. 0:40help.
26. 0:42And you are giving them something that's
27. 0:43moderately valuable.
28. 0:45Let's be real, 27% of them are even
29. 0:47going to make a login.
30. 0:48Uh and so if we want them to actually
31. 0:50like succeed, then basically adding in
32. 0:52more perceived likelihood of achievement
33. 0:54so lower the risk for them
34. 0:57by adding the pieces that they will
35. 0:59struggle the most with. And then once
36. 1:01you have statistics or data on how
37. 1:04successful they are, then you would
38. 1:06include that in your VSL and your
39. 1:08marketing.
40. 1:09So you want to track how well they do.
41. 1:11And then you can state the facts and
42. 1:12tell the truth that you actually have a
43. 1:14good product and then people can make an
44. 1:16informed decision about how good the
45. 1:17product is based on what has happened so
46. 1:19far to people just like them.
47. 1:21>> How can I track that information, you
48. 1:24know, like
49. 1:24>> How do you track it?
50. 1:25>> Yes. The like experience.
51. 1:27>> You don't need to track their experience
52. 1:28much at all. You need to track the
53. 1:30outcome that you promised. Cuz you're
54. 1:31selling them something, right? I'm
55. 1:33assuming you're selling them some
56. 1:34opportunity of getting a job as a
57. 1:36closer, correct?
58. 1:37>> Yes.
59. 1:38>> Right. And so it's what percentage of
60. 1:40people get placed, what's the average
61. 1:41pay that they get.
62. 1:43Uh like those are probably the things
63. 1:45that they care about.
64. 1:46And so it's like what's the average
65. 1:48success, what's the outcome of that
66. 1:49success. That gives me a blended rate on
67. 1:51risk. So if I'm buying and I know that
68. 1:5480% of people get a $100,000 job
69. 1:57remotely, I would be very excited to
70. 1:59spend $2,000. I wouldn't give a if
71. 2:01it was $10,000. If that was actually
72. 2:03what was happening.
73. 2:04And so a lot of you guys can probably
74. 2:06increase how much you pay by increasing
75. 2:07the perceived likelihood of achievement
76. 2:09by simply making the product better.
77. 2:12Does that make sense?
78. 2:13>> Thank you.
79. 2:14>> Any butt. And it's normal to start with
80. 2:16lower pricing in the beginning. You also
81. 2:18have lower CAC in the beginning, too.
82. 2:20So, that's also normal. Like whenever
83. 2:21you're launching a new product, you're
84. 2:22like, "We're going to kill it." And it's
85. 2:23cuz you always have the cheap, you know,
86. 2:24the the the very easy customers that are
87. 2:256-in putts. They already know you. They
88. 2:27like you or whatever. They follow you
89. 2:28for a little bit. And so, they just hop
90. 2:30over the buy line. It's very easy. But
91. 2:31when the guy's over there, there's a lot
92. 2:32more work that has to get get put into
93. 2:34it. And so, I'm a big advocate of
94. 2:38have low CAC, have a low price, get the
95. 2:40early results with the, you know,
96. 2:42halfway point results. Like I told you
97. 2:44guys yesterday, I was like, "It's going
98. 2:45to be 65. I'm pricing it at 45 now. And
99. 2:48as soon as I have like a full year or
100. 2:50close to a full year data, I'll bump
101. 2:51it." Because I already know that like I
102. 2:53want to make sure that just my price to
103. 2:54guy discrepancy is wild. The first
104. 2:56people who took a shot when I had zero,
105. 2:58I was like, "Hey, this is going to go
106. 2:59way up." But I just need really good
107. 3:01data. So, just crush it for me, please.
108. 3:03Please do what I tell you to do. Uh
109. 3:05don't start another business.
110. 3:07Uh
111. 3:07>> [laughter]
112. 3:09>> Um and so, does that make sense
113. 3:10thematically? Yes? Okay.