A client of mine has an excellent course ($67) that is not selling as it should, but has incredible potential.
He asked me:
-=-=-=-=-=-=-=-=-=-=-=-=-=
“If I gave you the course and said, ‘It’s yours now, it’s all your money,’ and you didn’t have an investor who was going to just dump 30 grand into the marketing, how would you build it up where the cash flow over time more than pays for the marketing?”
-=-=-=-=-=-=-=-=-=-=-=-=-=
Here is my answer:
#1 I want him to get back 5x whatever he pays me.
I won’t bore you with the math of the different options I gave him. But I set up an offer that was a setup fee plus a share of the revenue that will get him 5x what he pays me.
It is risky because if I don’t sell enough, I get paid nuthin.
I never want to be someone’s government employee, who has no incentive to create outstanding results. A great deal is when both parties have skin in the game. Workers at the DMV have no skin in the game when it comes to creating a culture of amazing and responsible drivers. They get paid the same no matter what.
Tie money to results and both sides can win.
#2 Every new customer pays for the next customer
I learned this one from Alex Hormozi. The sale of the course needs to pay for marketing to the next customer. If I am charging too much for my services, he won’t have enough to pay for ads to get the next customer.
The goal is to create a flywheel of profit.
#3 I would become the course
I can’t write landing page copy and emails, if I don’t become a superconsumer of that course. So, every step of that journey, as it now stands, needs to be fully experienced by me.
Sure, I am building a long list of things to be fixed, but I am also wearing my copywriting hat to find the hidden benefits not yet highlighted.
#4 I would talk to customers in the middle of the course
Ideally, current ones going through the course or just finished. I have a set list of questions to draw out how it transformed their lives. Then I would use their answers to help me update the landing page offer.
#5 I would talk to customers right after they purchase the course.
That is the best time to find out what their fresh motivation was for the purchase.
Pick up the phone and call them immediately.
#6 Rewrite the landing pages for the course
The offer has to smell like fresh bread. Based on all of my ingesting of the course and customer feedback, I am armed to improve the landing page.
#7 Fix the freebie
A stand-alone PDF might get them to sign up, but won’t get them to buy. This PDF freebie must be supplemental to the next thing.
#8 Write a 5-day email course
Such a course that breaks up the PDF into an entertaining and educational experience sells the course on autopilot. No one reads those PDFs anyways. (See my previous work.)
Do you have a course you want to sell?
Let’s talk. But first, look at my 5-day Educational Email Course offer to get you up to speed on how I roll. It is not only for books. It works great for most products.
https://blairjohnlee.substack.com/p/done-for-you-email-course
Blair