How to ACTUALLY Build a Billion Dollar Sales Funnel
Summary
TLDRThis video script discusses the importance of de-risking advertising strategies for clients by studying the market and leveraging proven selling appeals. It emphasizes the need to understand the market's actual desires rather than relying solely on client opinions, which can be jaded or out of touch. The speaker advises validating market needs through surveys, questionnaires, and online research, such as forums and social media, to identify pain points and tailor strategies accordingly. The focus is on gathering reliable information to make informed decisions and avoid blaming clients when campaigns fail.
Takeaways
- 📊 When spending money on advertising, there's always a risk; our job as professionals is to lower that risk as much as possible for our clients.
- 🔍 Studying the market and understanding proven selling appeals helps in de-risking advertising efforts.
- 🤔 Business owners often get bored of their offers before the market does, leading to unnecessary changes.
- 📄 Ebooks and PDF reports often pull better responses than sponsored articles, giving quick dopamine trade-offs to users.
- 🗣️ Business owners' opinions can be biased; it's essential to validate market needs through surveys and research rather than solely relying on client conversations.
- 📞 When campaigns don't work, clients often blame the agency rather than their initial inputs; hence, validating market needs is crucial.
- 💡 Understanding and addressing real market pain points through thorough research is vital before deciding on a strategy.
- 🛠️ Collaboration is key; involve all team members to understand and solve problems effectively.
- 📈 Test different traffic strategies (e.g., opt-in pages vs. direct offer pages) to determine the best approach for lead generation.
- 📞 Gathering phone numbers through opt-in forms can significantly lower the cost per lead compared to direct offer pages.
Q & A
What is the primary role of professionals in advertising as mentioned in the script?
-The primary role of professionals in advertising is to lower the risk for clients as much as possible by de-risking strategies such as studying the market, understanding numbers, and identifying proven selling appeals.
Why is it important to study the market and de-risk before starting an advertising campaign?
-Studying the market and de-risking is important because it allows professionals to identify what has already proven to work, thereby reducing the risk and increasing the chances of a successful campaign.
What is the common issue with business owners when it comes to marketing their offers?
-The common issue with business owners is that they often get bored with their offers before the market does, leading to a constant need for novelty and newness, which can be detrimental to a consistent marketing strategy.
Why are sponsored articles not as effective as ebooks according to the script?
-Sponsored articles are not as effective as ebooks because they don't pull as much, possibly due to the quick dopamine trade-off they offer, which might not be as engaging or valuable to the audience as a more comprehensive ebook.
What is the typical perspective of a business owner who has not run advertising at a large scale?
-A business owner who hasn't run advertising at a large scale is likely to be out of touch with what the market really wants, looking at it from an industry insider perspective rather than an outsider's view, which can lead to misaligned marketing strategies.
Why is it crucial for a strategist to validate market needs rather than relying solely on client conversations?
-It's crucial because relying solely on client conversations can lead to subjective data that may not accurately represent the market's needs. Validating through market research provides more objective and reliable information.
What is the strategist's responsibility when a campaign doesn't work as expected?
-The strategist's responsibility is to ensure they have validated the market needs and made decisions based on the most reliable information. If a campaign fails, it's on the strategist to take responsibility rather than blaming the client or external factors.
How should one approach researching changes in a specific industry, such as the plumbing industry?
-One should start by Googling the changes in the industry, looking into forums, Reddit, and other online communities to understand what people are discussing and the issues they are facing.
What is the first question a strategist should ask when deciding on a marketing approach?
-The first question should be 'What problem are we trying to solve?' This helps to clarify the objectives and guide the decision-making process for the marketing strategy.
Why is it important to look at the big picture when evaluating a marketing funnel?
-Looking at the big picture helps to identify where the issues lie and how different parts of the funnel are interconnected. It ensures that decisions are made with a comprehensive understanding of the entire process.
What is the advantage of using a free report with a phone number field in a marketing funnel?
-Using a free report with a phone number field can result in a very low cost per lead, as it captures interested prospects who are more likely to convert and can be contacted directly.
Why might sending people directly to the offer page be more effective than going to an opt-in page?
-Sending people directly to the offer page can be more effective if the cost per click is high or if the audience is already considered and ready to engage with the offer, bypassing the need for an opt-in step.
What is the purpose of providing free reports in a marketing strategy?
-Free reports are provided to satisfy the audience's hunger for information, as people use the internet primarily for information gathering. It helps capture leads who are not yet ready to make a commitment.
Outlines
📈 Marketing Risk Mitigation and Market Validation
This paragraph discusses the importance of reducing risk in advertising by understanding the market and validating selling points. The speaker emphasizes the need for professionals to study the market, gather numbers, and use proven selling appeals to minimize risk. They also highlight the tendency of business owners to seek novelty, which can be misguided without proper market validation. The speaker suggests that the best insights often come from market research rather than subjective client conversations, and stresses the importance of understanding the market's true desires to avoid blame when campaigns fail.
📊 Optimizing Lead Generation Strategies
The second paragraph focuses on the nuances of lead generation, particularly the decision-making process between directing traffic to an opt-in page versus a direct offer page. The speaker explains that the choice depends on factors such as cost per click and the readiness of the potential customer. They advocate for providing free reports as a means to offer valuable information to the audience, which can lead to higher conversion rates. The paragraph also touches on the importance of understanding the broader market behavior and the effectiveness of different lead generation methods, such as Facebook lead ads, in achieving the most cost-effective leads.
Mindmap
Keywords
💡Advertising
💡De-risking
💡Market Research
💡Conversion Rate
💡Funnel
💡Lead Generation
💡Cost Per Lead (CPL)
💡Opt-in Page
💡Offer Page
💡Client Communication
💡Objective Data
Highlights
The importance of de-risking advertising for clients by understanding market trends and proven selling appeals.
The challenge of balancing a business owner's desire for novelty with the need for proven marketing strategies.
Why sponsored articles may not be as effective as ebooks in marketing and the psychological impact of quick gratification.
The disconnect between business owners' perceptions and the actual market demand due to limited client exposure.
The value of conducting surveys and market research to identify genuine market needs and preferences.
The reliance on objective market data over subjective client conversations for more accurate marketing strategies.
The responsibility of marketing professionals to validate market needs and avoid blaming clients when campaigns fail.
Using online forums and communities to gauge market sentiment and identify emerging industry changes.
The significance of market selection and research in spending 80 percent of time to understand pain points and market size.
The role of a strategist in gathering reliable information to make informed marketing decisions.
The process of identifying the core problem a marketing campaign is trying to solve, such as lead generation.
The importance of involving all stakeholders in understanding and solving marketing funnel issues.
The strategy of using a 50/50 traffic test to determine the most effective marketing approach.
The effectiveness of using a free report with a phone number field for lead generation at a lower cost.
The nuances of deciding between direct offer page traffic and opt-in funnels based on cost per click and conversion rates.
Understanding consumer behavior on the internet and the value of providing free reports to satisfy their information needs.
The strategy of using Facebook lead ads for the cheapest lead generation.
Engagement call to action for viewers to like, subscribe, and comment on YouTube videos with the hashtag 'Hey Sudbury'.
Transcripts
all right sell me who's the biggest
gorilla in the space they're definitely
online talking about what are we
selling what sounds more sexy shitloads
of stuff no try again you're putting me
to work today how do you sell anything
you don't know all right so now we're
getting somewhere
whenever you spend money on Advertising
there is a risk and our job as
professionals is to lower that risk as
much as humanly possible for our clients
the reason that I always say like study
the market tell me the numbers show me
those things is you're de-risking them
doing that if you're just coming up with
what it is that we feel or what we think
could be a good thing then there's just
so much risk present in it whereas we
can already see proven selling appeals
and run with them we've already just
de-risk it dramatically because we
already know that people are doing it
and it's working so we just need to do
that but just way better when most
people's like marketing like it's always
a business owner that gets bored of his
offer before the market does they have a
need for novel and newness there's a
reason that we don't run it as sponsored
articles because they don't pull as much
as an ebook and the reason why it's like
it gives them that easy quick dopamine
trade-off that they want that all of
their answers lie in a PDF report that
they just put their name and email
address and they get
when you speak to the business owner
you're getting like a very jaded opinion
of how things work and a lot of people
are so close to it especially if they're
not running like advertising at Large
Scale they are completely out of touch
of what the market really wants because
they're looking at it from like their
small number of clients that they deal
with and they look at it from like an
industry Insider they don't look at it
from like an outsider that's where it's
like we do the survey we have the
onboarding questionnaire we have the
kickoff call to try and find some Golden
Threads but experience tells me that
those Golden Threads are largely very
rarely found from having that
conversation with the client and it's
based on me actually validating and
having a look out in the market and
seeing what is actually happening so
like I trust that like way more that
subjective data rather than the
objective conversation that I happen to
have in that time with the client so
don't just be like this is what the
client said because when the campaign
doesn't work you can't go back and say
but this is what you said to me client
it's all your fault everything they
blame you they blame King Kong they
blame everything the last thing that
I'll ever blame is that's what I told
you they'll never ever say that in a
million years so because it's then our
responsibility and we know that when the
comes down it's going to come down
on us it's therefore our job to really
make sure and validate okay what is this
Market really really want if they tell
you the changes are coming just start
googling it changes coming to the
plumbing industry changing to the
plumbing industry Reddit Australia go
and start to see like what the forums
are saying and what people are saying
online because if we're saying that like
hey you usually have to go through to a
board and it takes two weeks to get back
there will be Facebook communities there
will be Reddit forums there will be
people talking about these issues online
because they come back and bite them on
the ass so there'll be something but
this is where we spend like 80 percent
of the time Market selection and
research so I would really like figure
out what is that pain point that they
have and how big before you decide okay
this is what we're going to do you're
the crew member right you're the
strategist so you your job is to sit
down and to get all the most reliable
information that you possibly can to
make the decision so the very first
question is what problem are we trying
to solve what are we trying to solve are
we trying to get more options are we
going to always be sending people direct
to the offer page what is the issue the
client needs more leads okay what kind
of leads would he call a free report
lead like what is it that he wants does
he have more time or does he have more
money honor he has definitely more time
excellent than let's run through the
free report like you need to look at the
big picture when anybody comes and
presents you facts the account manager
is coming oh this funnel is not within
kpi or the traffic person comes and says
hey I'm having a problem with this or
the client's not happy or whatever it
might it be is you need to get everyone
involved that's the first thing that I
do if anyone in this organization comes
to me I'm like get them on a zoom call
I'm gonna get everyone on the zoom call
so I'm not like oh well Lewis said this
or this person just bring them all to me
and I'll get to the bottom of it so you
get everyone involved and you find out
what is the problem that you're trying
to to solve first it's the offer page
the alpha page is not converting okay
well how what percentage of people go
from the opt-in page to the offer page
because that's how the funnel is
designed to work oh no no we're just
sending people directly to the offer
page all right then that's the first
thing like why are we doing that do why
do we not have on them on funnel one if
they need more leads we typically do
like a 50 50 traffic test it's very
difficult to ascertain going in what is
going to be the best play if you said to
me okay they've got a team of hungry
sales people what would be the thing
keep them on Final one go to an opt-in
get a phone number field it works like
crazy you will never get a cheaper cost
per lead but I don't care what you put
on your offer page you'll never ever get
a cheaper lead than putting a free
report on there with a phone number if
the client is willing to do that and
then if the cost per click is
prohibitively very very very high then
going directly to the offer page more
often than not beats going to to an
opt-in there's Nuance to it though it is
not not a hard and fast rule but by
default that person is more bottom of
funnel they're already considered during
they're already up on there but again
the argument is well okay you get a five
percent click through rate and a three
percent conversion rate well all those
people were bought them a funnel so what
are the other 97 percent of people doing
well they're not ready to speak to
nobody what do people use the internet
for what do people use Google for
information that's why we give them in
free reports because that's what they
want they're starving for information
because no matter what you have on a
legion site even if you've got the best
Legion site on planet Earth and you're
converting at 30 what are the other 70
of people doing well they're on Google
they're clicking they're looking for
something but they didn't have it on you
on your Legend side it's not just about
getting the cheapest cost per call if
you want the cheapest lead just run
Facebook lead ads hey guys if you're
enjoying these videos please like
subscribe and hit the Bell Button as
we're dropping a video like this every
other day on YouTube and if you've got
any questions just leave a comment below
with hashtag Hey Sudbury and I'll do my
best to get to it
[Music]
thank you
[Music]
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