"Why Won't My Customers Come Back?" — Transcript

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1. 0:00Lamine
2. 0:02What's up? Are you Is it Is Lamine Is
3. 0:04that the way to say it? Is it Lamine?
4. 0:05How do you say it right?
5. 0:06>> Lamine. Lamine.
6. 0:07>> Lamine. All right. Talk to me.
7. 0:08>> All right. So, yeah, I'm a growth
8. 0:10operator for a brand selling leadership
9. 0:12and self-development men. We're on track
10. 0:14to 500k this year. We want to target 1
11. 0:17to 2 million in 2027.
12. 0:19>> Right.
13. 0:19>> So, we have two products. One is a
14. 0:21$2,000 per year online community on
15. 0:23school. And we have four in four
16. 0:25in-person retreats a year. So, we sell
17. 0:28them separately or as a package with
18. 0:30online community at $3,500.
19. 0:32>> All right.
20. 0:32>> We sell off bi-weekly webinars, 41%
21. 0:35close rate. So, I think the acquisition
22. 0:37is not an issue. The problem is that we
23. 0:39are unable to make money off current
24. 0:41customers. So, we always keep on having
25. 0:43new customers every single month. And
26. 0:46they don't renew at the end of the month
27. 0:47at the end of the 12 months. So, also
28. 0:50with the retreats, people say it's
29. 0:52life-changing. This is something they
30. 0:53want to do again, but they don't repeat.
31. 0:56So, and they're also not profitable. So,
32. 0:57they eat out like 50% of the margins.
33. 1:00The retreats is just too expensive. So,
34. 1:03my plan after talking to ACQAI and just
35. 1:06rehearsing is to sell the retreat plus a
36. 1:08community package as the front end at
37. 1:10like $5,000. And then we improve the
38. 1:13offer by including a 3 months of
39. 1:15one-on-one accountability with a team
40. 1:17member like coaching with a team member.
41. 1:19>> All right.
42. 1:19>> So, we can get them results and then we
43. 1:21can upsell them after the end of the 3
44. 1:22months. Hey, do you want more
45. 1:24accountability? Let's do this and you
46. 1:25can join the retreat.
47. 1:27And also inside the retreat, we can
48. 1:29upsell to a more premium retreat
49. 1:31>> Yeah, you should be Are you I'm assuming
50. 1:33you're not closing out your retreats.
51. 1:36>> Yeah, they're not.
52. 1:37>> Yeah, you need to sell out your
53. 1:38retreats.
54. 1:39Like that's the issue.
55. 1:40Like I'm just telling you right now,
56. 1:41that's the problem. Um, I agree with the
57. 1:43ACQAI of of me. Uh,
58. 1:46uh, on the front end, I do think, yeah,
59. 1:47having a five or six K offer for for
60. 1:49this type of thing for call it a an
61. 1:51annual subscription of events works for
62. 1:53consumer, you know, consumer male
63. 1:54audience.
64. 1:55Um,
65. 1:56you can add in the one-on-one, that's
66. 1:57fine. I think that'll be a good
67. 1:58sweetener. I think the biggest issue is
68. 2:00just that Yeah, like a delivery event
69. 2:01will not be profitable if you do not
70. 2:03sell. It is a It is a cost unless you
71. 2:05sell.
72. 2:07>> Sure. And then we we also saw that they
73. 2:09tend to kind of value more in person and
74. 2:12online things.
75. 2:13>> Yeah, so does everybody.
76. 2:14>> that purchase both, they keep
77. 2:16purchasing.
78. 2:17>> Yeah.
79. 2:19So, sell more of that.
80. 2:21>> Absolutely. That was my plan, so I just
81. 2:23wanted to let
82. 2:23>> Good. No, that's fine. Yeah. Put all the
83. 2:25packages together of the stuff that
84. 2:26people value the most, price it
85. 2:28accordingly, and then when you have them
86. 2:29come out, get them to renew early. So,
87. 2:32the big I'll I'll just give you the big
88. 2:33mistake, which is people will get afraid
89. 2:36of renewing people before the end of
90. 2:37their subscription.
91. 2:39Do not do that. So, if someone has four
92. 2:40events they're going to go to, which I
93. 2:41think is a lot, by the way.
94. 2:43Um I think you'd be probably better
95. 2:44served with two or three. Four is a ton.
96. 2:46Like, it'd be better to have four and
97. 2:48then say pick two or pick three. That
98. 2:49way they have more flexibility.
99. 2:51Um
100. 2:53And then when someone's at their second
101. 2:54one,
102. 2:56that's when I would sell the the renewal
103. 2:58with some sort of faster action thing
104. 2:59while they're in the moment, feeling
105. 3:00good, they're in the vibes, rather than
106. 3:02going home feeling shitty.
107. 3:04>> Yeah. And then after like a year, they
108. 3:06come back to us, "Hey, can I join
109. 3:07again?" And also we I have a plan, which
110. 3:10is we have like the main retreat, like
111. 3:13online event, and then inside the online
112. 3:15event we'll sell them like a more
113. 3:16premium one with less people and more
114. 3:18expensive, like maybe more support or
115. 3:19something like that.
116. 3:20>> That's fine.
117. 3:22>> Perfect.
118. 3:22>> That works. You just like you're just
119. 3:24not selling from your events, and you're
120. 3:25selling you're selling piecemeal rather
121. 3:27than all at once. That's it. Two
122. 3:28changes.
123. 3:29>> Perfect. That was the I said thank you.
124. 3:31>> Appreciate you. Let me know. If you like
125. 3:32this video and you're a business owner
126. 3:33who wants to break through your current
127. 3:34revenue ceiling, I just distilled every
128. 3:36lesson from scaling 10 businesses past
129. 3:3710 million and three businesses past 100
130. 3:39million into a completely free scaling
131. 3:41road map that I've used to go from zero
132. 3:43to one, zero to 10, and zero to 100
133. 3:45plus. And so, you can click here and you
134. 3:47can check it out. Again, absolutely
135. 3:48free. And since you're a business owner,
136. 3:49I appreciate you and uh enjoy.