"Why Do I Have to Find New Customers Every Month?" — Transcript

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1. 0:00All right, ready for your call.
2. 0:02Okay, Chloe.
3. 0:04We're going.
4. 0:06All right, Chloe.
5. 0:08Let's see how this goes. Let's see if
6. 0:09the mic can even pick this up. All
7. 0:10right.
8. 0:12>> Hey, can you hear me, Outrank?
9. 0:14>> Hey, Chloe. What's going on?
10. 0:15>> Hey, it's so nice to to chat with you
11. 0:18again. So,
12. 0:20um super excited. My coaching business
13. 0:23>> Okay.
14. 0:23>> operates through a webinar funnel.
15. 0:25>> Okay.
16. 0:25>> And use affiliates to get people to the
17. 0:28training. So, the coaching program is
18. 0:30$2,497.
19. 0:32>> Okay.
20. 0:32>> Affiliates get a $1,000 commission per
21. 0:34enrollee.
22. 0:35>> Okay.
23. 0:35>> And then we have a continuation offer of
24. 0:37$249 a month or $2,490
25. 0:41a year.
26. 0:41>> So, $2,499 is the offer. You pay a
27. 0:44thousand bucks in affiliate commissions,
28. 0:46right?
29. 0:46>> Yes.
30. 0:47>> Okay, that's fine. Got that. And then um
31. 0:51and then after the $249, it goes to
32. 0:53what, $249 a month?
33. 0:55>> Yeah.
34. 0:56>> Okay, $249 a month. How long is the
35. 0:58program?
36. 0:59>> So, the initial program is 12 weeks. The
37. 1:01continuation offer is I mean, either we
38. 1:04hope to get them in at the annual price,
39. 1:06which they all have chosen. Um but
40. 1:08people could do it at $249 a month just
41. 1:11monthly.
42. 1:11>> But most people do three grand a year.
43. 1:14>> Yes.
44. 1:14>> Okay, got it.
45. 1:16So, this is 3K per year on the back end.
46. 1:17Got it. So, um what's the So, do you pay
47. 1:19any commissions on that?
48. 1:21>> No.
49. 1:22>> Okay, got it. So, what's the issue?
50. 1:24>> Yes, so on average, our affiliates are
51. 1:26generating $77,000 for us. And so, my
52. 1:29question is on which
53. 1:32I don't know, per partnership. So, when
54. 1:33they partner with us,
55. 1:34>> Okay, got it. It's a one-time thing.
56. 1:35>> Yeah. Some of them have chosen to do it
57. 1:37again.
58. 1:37>> Got it.
59. 1:38>> So, my question is on which next money
60. 1:41model step to prioritize. So, it could
61. 1:44either be a high-ticket offer for the
62. 1:45affiliates because a lot of them on our
63. 1:47partnership calls are also asking me for
64. 1:50coaching.
65. 1:50>> Yeah.
66. 1:51>> Or it could be to further increase the
67. 1:53LTV for current coaching clients.
68. 1:55>> No, I think that you're I think where
69. 1:57you'll get the most leverage this is
70. 1:59this is not a uh money model thing. This
71. 2:00is a strategy thing.
72. 2:01>> Mhm.
73. 2:02>> Um is if you're you said you make
74. 2:04$77,000 on average per affiliate that
75. 2:06you do partnership with, right?
76. 2:08>> Yes.
77. 2:09>> So, I think the idea would be okay, if
78. 2:10we do $77,000 per affiliate partnership,
79. 2:13how do we get them to do it four times a
80. 2:14year or twice a year rather than just
81. 2:16once and then never again?
82. 2:17>> Mhm.
83. 2:18>> Right? So, what's revenue right now and
84. 2:19how many partnerships do you do a year?
85. 2:21>> Yeah, so we um this is actually thanks
86. 2:23to the VAM days.
87. 2:25>> Okay.
88. 2:25>> We're just starting to scale this a bit
89. 2:27more.
90. 2:28>> Okay.
91. 2:29>> We are hoping to do about four to eight
92. 2:32webinars per month over the next 12
93. 2:34months.
94. 2:35>> Great.
95. 2:35>> And pack them out with 10 to 12
96. 2:37affiliates per webinar.
97. 2:39>> Amazing. So, what's revenue then?
98. 2:41Or what's it pacing right now?
99. 2:42>> Yeah, right now it's pacing at like 250k
100. 2:46a month and we're hoping to get it
101. 2:49at least double that in the next 6
102. 2:50months.
103. 2:51>> Okay, got it. So, the the long-term like
104. 2:54what makes this business into something
105. 2:55that's really attractive long-term is
106. 2:57that you build a base of affiliates
107. 2:59because basically they become your
108. 3:01distribution.
109. 3:02>> Mhm.
110. 3:03>> And so then that becomes the most
111. 3:04valuable part of your business.
112. 3:06And so the idea is like, okay, I have
113. 3:08access to this network of call it, you
114. 3:10know, 200 affiliates and those
115. 3:12affiliates on average do two times per
116. 3:14year at, you know, 77k
117. 3:17um and then that becomes a reliable cuz
118. 3:19remember there's two ways you can have a
119. 3:20business that continues to grow. You
120. 3:21either have stuff that people never stop
121. 3:23buying or you have people that never
122. 3:24stop selling for you. And so this is a
123. 3:26people never stop selling for you type
124. 3:27model. And so it's like, okay, if every
125. 3:30year you just keep adding 10, 20, 30
126. 3:31affiliates to the business
127. 3:34um then the business will just keep
128. 3:35continuing to compound as, you know,
129. 3:36provided those affiliates can get leads,
130. 3:39etc.
131. 3:40Right? And so that to me is like I would
132. 3:41just be thinking this is long like
133. 3:44medium medium-term, how do I reactivate
134. 3:47as many of the affiliates as possible
135. 3:48and after every time they do a launch,
136. 3:50how do I just immediately book them for
137. 3:51the next one? So, it's like, "Great,
138. 3:53that was awesome. Let's book you 6 or 9
139. 3:55months from now.
140. 3:56Uh and let's get it going again."
141. 3:57Because like, "Hey, why not? Do it twice
142. 3:58a year. You get 150,000 a year just from
143. 4:00doing this." That sounds like a pretty
144. 4:02good deal.
145. 4:04>> Amazing. Thank you. I appreciate that.
146. 4:06>> No, you bet. That would be like that
147. 4:07would be my first my first thing. Cuz if
148. 4:09we can just retain them, it's like
149. 4:10you're doing three or four, you know,
150. 4:12affiliate launches a month or whatever.
151. 4:14It's like, "Yeah, but you're every month
152. 4:15you got to go and get other ones." It's
153. 4:16like, "Let's Let's build this this base
154. 4:18of 50, 100, 200 affiliates and know that
155. 4:21we're going to do 14 million twice a
156. 4:23year from 200 affiliates."
157. 4:26>> Yeah.
158. 4:27>> That's how I'd approach it.
159. 4:29>> Okay. I appreciate that. Thank you.
160. 4:31>> No, you bet. Oh, thank you. It was It
161. 4:33was a joint win. It was a team win.
162. 4:35Thank you, I appreciate it.
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175. 4:55enjoy.