"Why Are Our Customers Asking Us for Leads?" — Transcript

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1. 0:00I sell go high level to online fitness
2. 0:02coaches. I would do 2 million in revenue
3. 0:04and we'd love to be at a million a
4. 0:05month.
5. 0:06>> Okay.
6. 0:07>> This is what is stopping me.
7. 0:09>> [snorts]
8. 0:10>> So, what is stopping you right now? Why
9. 0:11can't you do more with your currently
10. 0:12doing?
11. 0:15>> Yeah, we we basically developed and
12. 0:17built up a better product because we had
13. 0:18terrible retention.
14. 0:19>> You had terrible retention.
15. 0:20>> Terrible retention.
16. 0:21>> And now you have good retention?
17. 0:21>> Yes, so we
18. 0:22>> What's your turn now?
19. 0:23>> Uh, 7%.
20. 0:24>> Monthly?
21. 0:25>> Monthly.
22. 0:26>> Okay.
23. 0:27>> Over 9,000 LTV.
24. 0:29>> Okay. What CAC?
25. 0:31>> Uh, 605 or 4.6 to 1.
26. 0:34>> Okay. So, it's like 1,500 bucks. Okay.
27. 0:37Cool. Got it.
28. 0:38Um, so how do you get customers right
29. 0:40now?
30. 0:40>> Uh, we have
31. 0:41>> [snorts]
32. 0:41>> 40% come through strategic partnerships
33. 0:43of other
34. 0:44>> Mhm.
35. 0:44>> mentors businesses sending their clients
36. 0:46to build out the funnels.
37. 0:47>> Okay.
38. 0:47>> Um, and then organic. And I would say
39. 0:48the last piece is actually the
40. 0:51Meta ads or Instagram ads.
41. 0:53>> Are those working and profitable?
42. 0:55>> Yes.
43. 0:56>> Okay. So,
44. 0:57two of those are reliable. Word of mouth
45. 0:59will just put a pin in for now. So,
46. 1:01fundamentally, why can't we either do
47. 1:03more Meta / Facebook ads or
48. 1:06more strategic partnerships in terms of
49. 1:08the outreach required to get more of
50. 1:10these people on board?
51. 1:11>> Yeah, we totally think that Meta is the
52. 1:13way to go. We used to do it, we turned
53. 1:14it off.
54. 1:14>> Cool. Okay.
55. 1:15>> My real question I think on that is how
56. 1:17do I make the CRM sexy on the front end
57. 1:20to
58. 1:21get somebody to actually inquire?
59. 1:24>> Are the ads working right now?
60. 1:26>> I wouldn't say we're spending enough to
61. 1:28say yes.
62. 1:29>> What are you spending?
63. 1:30>> 2,000 a month.
64. 1:31>> Okay. So, yeah, that's
65. 1:32>> We just have them on.
66. 1:33>> Yeah.
67. 1:35Got it. Um, rule of thumb for everybody,
68. 1:37just side note. Um, I can't really test
69. 1:40a campaign unless I'm willing to spend
70. 1:422x my target CAC as just a test of
71. 1:44whether this works or not. So, it's like
72. 1:45if my target CAC is 2K, it's like if I
73. 1:48don't spend at least 4K, it's like you
74. 1:50can't know anything because the cadence
75. 1:52of feedback is so slow on 2,000. It's
76. 1:55like every 2 months you'd be able to get
77. 1:57like a sale inefficiently. And so you
78. 1:59would cuz I'm I have to be willing to
79. 2:01spend more than my target CAC so that I
80. 2:02can then get it efficient, right?
81. 2:04Assuming that I'm going to literally
82. 2:06knock it out the gate on the first shot
83. 2:07is
84. 2:08unlikely.
85. 2:09Um okay, so from an offer perspective,
86. 2:12uh
87. 2:14what problem does GoHighLevel stuff
88. 2:17solve for the online fitness coaches?
89. 2:20>> Uh we really break it down into four
90. 2:21different funnels. We have basically
91. 2:23like ManyChat killer. We have a link in
92. 2:25bio, which is your lead magnet. We have
93. 2:28um our free training process, yeah.
94. 2:30>> Which is like you have followers, like
95. 2:32want to turn your followers into
96. 2:33customers without DMing anyone?
97. 2:36Like it's going to be the automated It's
98. 2:37going to be the pain of st- being in the
99. 2:39DMs all day, I would imagine. Um they're
100. 2:42all online fitness coaches?
101. 2:44Yeah, and I'm guessing most of them are
102. 2:45on
103. 2:46Meta or IG or whatever is their primary
104. 2:48way of getting customers?
105. 2:49>> primarily.
106. 2:49>> Yeah, and then maybe some like 20% on
107. 2:51LinkedIn doing, you know, busy
108. 2:53executives, whatever.
109. 2:55>> Yeah, I'd say none of actually are on
110. 2:56LinkedIn.
111. 2:56>> Okay, so it's just IG. Yeah, so I mean,
112. 2:58at least you have a very targeted
113. 3:00avatar. So it's like, "Hey, you having
114. 3:02trouble turning your Instagram followers
115. 3:04into customers? All of this can be
116. 3:06automated. We'll show you in 7 minutes
117. 3:08how to do it."
118. 3:09And that's the that's the lead magnet.
119. 3:12And then it would be a case study of
120. 3:13somebody who had
121. 3:14ideally 7,000 followers and then was
122. 3:17able to get to this many sales per
123. 3:19month.
124. 3:20Intimidating.
125. 3:22Um that's what I would That's what I
126. 3:23would That's what I would lead with.
127. 3:24Would be like, "Here's five different
128. 3:26coaches who all have less than 5,000
129. 3:28followers who are all able to get five
130. 3:29clients a week, right? That's not sexy,
131. 3:31right?
132. 3:32Um just using our automation."
133. 3:34That would be my angle. But
134. 3:35fundamentally, it would just be like,
135. 3:36"Boom, five case studies. Let me break
136. 3:38down each of these." Um and each of the
137. 3:40five would be represent different uh
138. 3:41psychographics of your avatars. So it'd
139. 3:43be like, you know, uh jacked
140. 3:46uh white bodybuilding dude. And then
141. 3:48it'd be like, skinny vegan dude who's uh
142. 3:51older and black. And then there's Asian
143. 3:53girl vegan powerlifter and then you know
144. 3:55moms over 50 lady like all of them have
145. 3:58their own niches and I would just show
146. 3:59that it cuz everyone's concern after you
147. 4:01say hey I'm an online you know CRM is
148. 4:04will this work for me and so you just
149. 4:05have to be like yes it will work for
150. 4:06you.
151. 4:07And so that would be basically the
152. 4:09representative that I would use there.
153. 4:10That's what I would do as my first shot.
154. 4:12But then yeah, VSL, sales call, close.
155. 4:16Trying to accelerate as much of that
156. 4:17cash flow up front as you can.
157. 4:20This is a this is like a bingo bango
158. 4:21money mango type type play.
159. 4:23>> No, for sure. Yeah, it was um
160. 4:25>> What parts what part worries you?
161. 4:27>> Um I don't think any part worries me as
162. 4:28much as just we're not a mentorship
163. 4:31group.
164. 4:31>> Yeah.
165. 4:32>> And so trying to sell the CRM with the
166. 4:34the automation process more so than like
167. 4:37another guru if you would.
168. 4:39>> Mhm.
169. 4:39>> Um
170. 4:40but just trying to find the right
171. 4:41messaging. We know this this is where
172. 4:42we're supposed to go. The idea was like
173. 4:45before I just tried to figure it out
174. 4:46like
175. 4:46>> Yeah.
176. 4:47Well, I'll tell you what I did when I
177. 4:48had an identical business um with Alan.
178. 4:51It wasn't just online but it was it was
179. 4:53brick and mortar primarily but same same
180. 4:54idea. Me marketing directly to SMBs
181. 4:57sucked.
182. 4:59Um and so I just marketed to agencies.
183. 5:01And so to your point like you're not a
184. 5:03guru, you don't want to get in the guru
185. 5:04business. I didn't want to be in the SMB
186. 5:06guru business. I just found the people
187. 5:08who had agencies that were Cairo agency
188. 5:12but you know whatever agency and I said
189. 5:13hey use my platform, I'll do this [ __ ]
190. 5:16that you don't want to do and then they
191. 5:18constantly would have clients coming in
192. 5:20and out but the people but they stuck
193. 5:22with me
194. 5:23for less.
195. 5:24>> So you're saying we should run a from an
196. 5:26ad strategy campaign to a fitness
197. 5:28>> gurus
198. 5:28>> business mentor bubble.
199. 5:29>> Yeah, if you're a fitness business coach
200. 5:32hit me up, we'd love to do this stuff
201. 5:33all for you and we have stickier revenue
202. 5:36than you do and so like the pains for
203. 5:38those people are aren't you tired of
204. 5:40giving people the keys to the kingdom
205. 5:41and then having them leave 3 months
206. 5:43later?
207. 5:44Right? Wouldn't it be nice to have some
208. 5:46recurring revenue that would actually
209. 5:47stick year over year over year? Imagine
210. 5:49if
211. 5:50you could have customers from 3 years
212. 5:51ago or every customer you've ever sold
213. 5:53in your whole life still paying you, how
214. 5:55different would your business look?
215. 5:56Probably materially. Each of those are
216. 5:58probably hooks that I would test. Right?
217. 5:59And I don't know which one would work,
218. 6:01but one of them would. And then that as
219. 6:03soon as I know, then
220. 6:05crank.
221. 6:06Cool.
222. 6:07But I would probably go there,
223. 6:08especially if you're like cuz what will
224. 6:10happen is if you actually go straight to
225. 6:11the quote fitness coaches, they'll be
226. 6:13like, "Great, I have this thing. How do
227. 6:14I get leads?" And then you're like,
228. 6:15"Fuck."
229. 6:16>> Yeah, it's a whole other process.
230. 6:17>> Right.
231. 6:17Right, so you'll end up having to get
232. 6:19into that when in reality the people you
233. 6:21have to you have to meet customers who
234. 6:24have the problem to solve.
235. 6:26You don't want to generate demand, you
236. 6:27want to channel it.
237. 6:28>> Yeah, it's the coaches that normally
238. 6:29already doing 10K or
239. 6:32ideal clients.
240. 6:32>> Great. Um
241. 6:36I don't know what the LTV to CAC
242. 6:37difference between the two would be. I I
243. 6:39can tell you that I know like on our
244. 6:40side with Alan it was absurd when we
245. 6:42went one level up.
246. 6:44>> Yeah.
247. 6:44>> So, just go cuz an agency it's like I
248. 6:46could acquire an agency for like $5,000
249. 6:49and then the agencies would pay to
250. 6:50onboard with us and they'd pay 25,000,
251. 6:52number one. And then number two, then
252. 6:55each one that would onboard, let's say
253. 6:56they had 50 customers, they'd pay 1,000
254. 6:58per customer, so we got another 50
255. 6:59grand. And then we had the recurring,
256. 7:02which on the back end was like 30% of
257. 7:03top line. So, it was a super profitable
258. 7:06model for us, but it worked for them
259. 7:08because they didn't have to do any of
260. 7:09this back end [ __ ] which we did. So, if
261. 7:12I had if I had to like how do you get
262. 7:13there faster? Would probably be just go
263. 7:15up one level of Um but when you do that
264. 7:18though, realize you will now serve two
265. 7:20customers.
266. 7:21>> Mhm.
267. 7:21>> You'll basically have to have like a a
268. 7:22customer success manager for the gurus
269. 7:25and then you'll also have to have, you
270. 7:27know,
271. 7:28success on this side to make sure the
272. 7:29customers are happy. So, it'd be
273. 7:30two-sided.
274. 7:31>> Okay. Thank you.
275. 7:32>> Yeah.
276. 7:33If you're not getting as many leads as
277. 7:34you want in your business is demand
278. 7:36constrained, [music] meaning you could
279. 7:37service more customers than you
280. 7:38currently have, then this is for you.
281. 7:40So, marketing is changing and I think
282. 7:42ACQ tends to be on the bleeding edge of
283. 7:44the stuff. We certainly spend the money
284. 7:46to do it, but we also build [music]
285. 7:47custom software and we pay amazing
286. 7:49vendors and very expensive people to
287. 7:50figure out the system that we have right
288. 7:52now and I want to share it with you kind
289. 7:53of open kimono style. If you're not
290. 7:54getting as many leads as you want,
291. 7:56boy, do I have the [music] thing for
292. 7:57you. Click below, book call and
293. 7:59hopefully I'll see you in Vegas.