Why a $1M Course Should Test Paid Ads Next — Transcript

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1. 0:00I sell online piano courses for $997.
2. 0:04Online
3. 0:04>> courses?
4. 0:05>> Online piano courses.
5. 0:06>> Piano, yeah. Got it. Okay.
6. 0:07>> So, I have a tutorial channel on YouTube
7. 0:09that links to a email chain and then
8. 0:12sales page and webinar selling courses.
9. 0:14>> Cool. Automated?
10. 0:15What's that? The whole thing is
11. 0:16automated?
12. 0:17>> Yeah, yeah.
13. 0:17>> Okay, got
14. 0:18>> I'm at 1.4 million a year. I want to get
15. 0:20to 3.6 million.
16. 0:21>> Okay.
17. 0:22>> And basically, I'm stuck at my long-form
18. 0:25YouTube channel. I basically rank for
19. 0:27almost all the learn piano for beginners
20. 0:29type keywords. So, the last kind of 15
21. 0:32videos, even if a video does well, my
22. 0:33total channel views and hence my total
23. 0:35leads kind of stay the same. So, I tried
24. 0:38doing this second piano prank street
25. 0:40performer channel,
26. 0:41>> Yeah.
27. 0:42>> which did really well, but didn't
28. 0:44convert for anything. Like
29. 0:45>> Entertainment, not a lead.
30. 0:46>> Yeah, entertainment. So, I'm like, okay,
31. 0:47I've basically four options I'm
32. 0:49debating. Number one, make really,
33. 0:51really, really good content
34. 0:54that's going to get less views cuz it's
35. 0:55so in the weeds, but the people who are
36. 0:57really into piano are going to like it.
37. 0:59Uh
38. 1:00>> You do like that that wouldn't translate
39. 1:01into more sales?
40. 1:02>> Yeah, if I like more trust, maybe.
41. 1:04>> Okay.
42. 1:05>> Um B, really get into a different
43. 1:07platform like Instagram and ManyChat and
44. 1:09really like nailing that platform. Uh C,
45. 1:12learn how to run ads. Or D, really work
46. 1:14on the conversion rate of my funnel and
47. 1:16kind of shore that up.
48. 1:19>> You might have a double
49. 1:21in the conversion rate, but you're not
50. 1:22going to have a 10x. So, in terms of
51. 1:24thinking like thinking through it, um
52. 1:26like you can you can like a couple of 10
53. 1:2820% lifts can get you a a double. Um
54. 1:32which obviously that we can work with,
55. 1:34but like
56. 1:35if
57. 1:36I mean, but if the goal is 3.6, then
58. 1:38like yeah, you could do conversion rate.
59. 1:39It's the lowest risk thing that you can
60. 1:40do in the business. But after you do
61. 1:43that, like you can only get to 100% and
62. 1:45you can't, obviously. So, there's a
63. 1:47handful of of levers that you know, that
64. 1:48we can tweak um in terms of the tooling,
65. 1:51the messaging, how the hooks for the
66. 1:53VSLs, the webinar, all that kind of
67. 1:54stuff. Um
68. 1:56but the
69. 1:58the 10x if you want that,
70. 2:01um
71. 2:03if I had to bet, I'm going to say this
72. 2:04differently. If I had to bet which thing
73. 2:06would double the business most likely,
74. 2:09for sure Barcode would be running ads.
75. 2:10>> Okay.
76. 2:12>> For sure. Like I put all of my money on
77. 2:15that one. If I had to like the lowest
78. 2:16risk, highest likely thing. Because you
79. 2:18already have an audience. You already
80. 2:19know, like, and trust you. Many of them
81. 2:21know to see your stuff on a regular
82. 2:22basis. So, they might have explained
83. 2:23this yesterday. Did you do the big
84. 2:25circle, little dot?
85. 2:27Okay.
86. 2:30Okay. So, who here has an organic
87. 2:31following
88. 2:32as their primary
89. 2:34way? Okay, I have to ask this question
90. 2:35differently because if I
91. 2:37So, if I say who here is an influencer,
92. 2:40two of you will raise your hand.
93. 2:42So, who generates leads by making
94. 2:44content? Any hands?
95. 2:46Okay, more hands. Great. So, this will
96. 2:48apply to you.
97. 2:49So,
98. 2:50because of the
99. 2:52because the algorithm has shifted from
100. 2:53social media to interest media. Like
101. 2:55everybody here knows, hopefully you
102. 2:56should know that. That the whole like
103. 2:57your follower count doesn't matter. Your
104. 2:59subscriber count doesn't matter. Okay.
105. 3:01So, when you make a piece of content,
106. 3:04let's say that
107. 3:06this is your this circle represents your
108. 3:09How many subs you have?
109. 3:10>> Uh a little over a million.
110. 3:11>> Okay. So, you got a million subs here.
111. 3:13When he makes a piece of content, let's
112. 3:15say that
113. 3:16this many people is how many people see
114. 3:18it
115. 3:20when he makes
116. 3:21each video, right? Because not all
117. 3:23million people are going to see every
118. 3:24one of the videos. So, a very small
119. 3:26percentage of that. Now, if we had a pin
120. 3:28prick that we could put, which is the
121. 3:31amount of people that see the call to
122. 3:32action
123. 3:33within those videos after retention
124. 3:35curves
125. 3:37take effect, and the ones that are
126. 3:38heavier in promotion tend to do worse
127. 3:40overall, not always, but in general. So,
128. 3:42a very tiny little dot here.
129. 3:45The benefit of ads is that
130. 3:48ads not only reach the the of your
131. 3:50million, but they also go every other
132. 3:53person that's found interest in your
133. 3:54stuff who's just a lurker.
134. 3:57Which you probably have a 10 times
135. 3:58bigger audience of people who have
136. 3:59watched a video or two videos or three
137. 4:01videos, but just never hit the sub
138. 4:03button, right? And so like if I were to
139. 4:05say like right now if everyone pulled
140. 4:06out their phones and pulled up
141. 4:08Instagram, not all of you necessarily
142. 4:10would be
143. 4:11subscribed or follow my Instagram. Many
144. 4:13of you might consume that content and
145. 4:15get displayed that content on your
146. 4:16newsfeed or your discovery page because
147. 4:18you watch it so the algorithm knows
148. 4:19you're interested in it, so it keeps
149. 4:21showing it to you.
150. 4:22And so the benefit of that with ads, you
151. 4:24get the effectiveness of this dot on a
152. 4:26size pie this big because functionally
153. 4:29the reason that
154. 4:31content in general is is so viable is
155. 4:33that it allows you to bring awareness to
156. 4:35the brand at zero cost, right? Or
157. 4:37functionally zero cost. And so I see the
158. 4:40primary benefit is that like your
159. 4:42conversion rate and your metrics on a
160. 4:43funnel for everyone who's ever seen or
161. 4:45consumed your stuff and gotten value
162. 4:47from you will be disproportionate to
163. 4:49anybody else that's running ads uh in
164. 4:51that space who's doing it true cold.
165. 4:53Now, once you break through here,
166. 4:55there's an entirely different strategy
167. 4:57that we'd have to employ. But if you
168. 4:59were like, I just want to get from 1 4
169. 5:00to 3 6,
170. 5:02that's what I would do.
171. 5:03>> Got you. And then should I learn ads
172. 5:04myself, hire an agency, or hire somebody
173. 5:07in house?
174. 5:08>> Um
175. 5:09the my honest answer is I would just
176. 5:11nuclear bomb it. Which is if I know that
177. 5:14I have to do something, then I buy
178. 5:15everything. So, I will buy a course,
179. 5:18I'll watch free stuff, I'll get uh you
180. 5:20know, an agency to do it, and my deal
181. 5:22with agencies is to read my leads book.
182. 5:24>> Yeah, yeah.
183. 5:25>> Okay, the agency section. Yeah, I I like
184. 5:27to I'll hire one, but I want to learn
185. 5:28what they're doing, and that's the deal.
186. 5:29And I'll pay more if I have to do that
187. 5:30cuz that's all I want to do.
188. 5:32And then once I have that cracked,
189. 5:34then I just bought myself a money
190. 5:36printing machine.
191. 5:36>> Got you. Got you.
192. 5:38Cool. Thank you so much.
193. 5:39>> No, you got it. Thank you.
194. 5:40If you're not getting as many leads as
195. 5:41you want and your business [music] is
196. 5:42demand constrained, meaning you could
197. 5:44service more customers than you
198. 5:46currently have, then this is for you.
199. 5:48So, marketing is changing and I think
200. 5:50ACQ tends to be on the bleeding edge of
201. 5:51this stuff. We certainly spend the money
202. 5:53to do it, but we also build custom
203. 5:55software and we pay amazing vendors and
204. 5:57very expensive people to figure out the
205. 5:58system that we have right now and I want
206. 6:00to share it with you kind of open kimono
207. 6:01style. If you're not getting as many
208. 6:02leads as you want,
209. 6:03boy, do I have the [music] thing for
210. 6:04you. Click below, book call and
211. 6:07hopefully I'll see you in Vegas.