How to ACTUALLY Build a Billion Dollar Sales Funnel

Sabri Suby

9 Mar 202306:31

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

00:00

📈 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.

05:00

📊 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

Advertising refers to the various forms of communication intended to persuade an audience to take some action, such as making a purchase or signing up for a service. In the video's context, it's about the risks involved in spending money on advertising and the professionals' role in minimizing these risks for clients. The speaker emphasizes the importance of understanding market trends and consumer behavior to effectively de-risk advertising campaigns.

💡De-risking

De-risking is the process of identifying and reducing uncertainties or potential problems in a project or business venture. The video discusses how professionals in advertising aim to lower the risk for their clients by studying the market, understanding numbers, and leveraging proven selling appeals, thereby ensuring that the strategies employed are based on solid data and trends rather than mere assumptions.

💡Market Research

Market research is the systematic gathering and analysis of information about a market, consumers, and competitors. The script mentions the necessity of conducting market research to understand what the market wants and to find golden threads or unique selling points. It's a crucial step in validating assumptions and ensuring that advertising strategies are aligned with consumer needs and preferences.

💡Conversion Rate

Conversion rate is a measure of how often people who view a particular web page or advertisement end up performing a desired action, such as making a purchase or signing up for a newsletter. The video script discusses the importance of understanding conversion rates in the context of advertising funnels and how they can indicate the effectiveness of an advertising campaign.

💡Funnel

In marketing, a funnel refers to the process that leads a potential customer from initial awareness of a product or service to the final point of sale. The script talks about different types of funnels, such as opt-in funnels that collect leads and direct-to-offer funnels, and how the choice of funnel can impact lead generation and conversion rates.

💡Lead Generation

Lead generation is the process of finding and nurturing consumer interest in a product or service, with the goal of developing a sales pipeline. The video emphasizes the need for more leads as a common client requirement and discusses strategies like offering free reports to generate leads effectively.

💡Cost Per Lead (CPL)

Cost per lead is a metric used to measure how much it costs to acquire a single lead. The script mentions that offering a free report with a phone number field can result in a very low cost per lead, highlighting the importance of this metric in evaluating the efficiency of lead generation strategies.

💡Opt-in Page

An opt-in page is a type of landing page that requires visitors to provide some form of contact information in exchange for something of value, such as a download or newsletter subscription. The video script discusses the role of opt-in pages in the marketing funnel and how they can be used to capture leads before directing them to an offer page.

💡Offer Page

An offer page is a landing page designed to present a specific offer, such as a product or service, to potential customers. The script talks about the importance of the offer page in the conversion process and how its effectiveness can be influenced by whether visitors are directed there directly or through an opt-in page.

💡Client Communication

Client communication refers to the interaction between service providers and their clients, ensuring that expectations and requirements are clearly understood. The video script highlights the importance of validating client statements with market research rather than relying solely on their perspective, which might be influenced by their closeness to the industry or limited client base.

💡Objective Data

Objective data refers to information that is not influenced by personal feelings or opinions and is based on observable facts. The speaker in the video contrasts objective data with subjective conversations with clients, advocating for the use of validated, market-based information to make informed decisions about advertising strategies.

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'.