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Hey everybody and welcome back to Content is Profit. Today we bring you a special episode and this was published maybe a couple of years ago, but it was so relevant. It is so relevant today with not only what we're doing in our studio and our community and moving forward, but also because it's one of those things that we get questions all the time. How do I monetize? How do I triple conversions? How do I get better at this content and selling game? So just for a little context, we're coming back from an event and I was debriefing on a couple of presentations. So you hear that debrief, we get deep with, with examples on how you can apply it today so you can triple your conversions. As I was doing research for the next episode which by the way is going to be about building your high ticket offer, we have a massive list and it turned out to be a longer episode that I thought it would be. So this was part of that research. So I'm excited to kind of put, put it back out there. This was episode 330 if you want to go listen to the original one. But if you haven't, enjoy it and I'll see you in there. I have here the quick guide to triple retention and increase conversions by 20%. So if you have a business or if you sell something or if you have a membership, this is highly relevant to you. And if you are creating content, this is more than ever relevant to you because it's all about how to keep attention and transform that attention into revenue for your business. So as you might know, we're on a clickfunnels, you know, mode at the moment. We just came from Funnel Hacking Live and they're releasing a new platform that's super exciting. We're gonna share a little bit of like what the next steps are there for us. But we haven't really big been big on funnels in the past because we sell through conversations. Right. And the content is a, as a big way that we do that with and the pursuit of the frictionless sell. Right. How the show was born. But anyways, before all this, for all this, I used to be a fitness studio manager, Orange Theory. And if you are not familiar with Orange Theory is a high end fitness studio boutique style. I think memberships go from like 59 bucks a month or four sessions to like 159 every single month for unlimited. Right. So is not the cheapest of the gyms where I live. We were competing with other places that had $10 memberships. Right. Not really Competing, it's not the same thing, but people will come into our studios and they're like, well, I can work out for 10 bucks a month, right? I'm like, sure. So that's all story for a different day. But I remember one of the most things that we looked at every single month, it was retention, right. We had the studio I ended up with, I had about a thousand members in it, we have 15 team members and we worked every single day to make sure that people stayed in the gym and renew their memberships for the next month. And they were happy and different things. So retention was a really, really big. We're very, very proud that we dropped that number from like 10% to 3%. That's called attrition is the people that kind of leave the studio. So every month we had about 3% people leaving the studio. If our sales were above that, we were in good shape. Right? So there's obviously different targets. And as you look at your business, okay, how can we do this? Right? So let's put it in the context of content, right? Are people coming to your videos? Are they staying to watch the videos? Right. We talked about the indicators, those five indicators on YouTube that you should be looking for. So if you haven't listened to that episode is either it's two episodes ago, the 327, I believe so anyway, so look at those indicators and see how can we keep attention a little bit more now what I'm about to share is going to change and improve that for you massively. It was a mind blowing moment that we had at this event. We're going to show some of the little things that you can do today to do that. So if you're not familiar with Perry Belcher, Perry has been in the industry for quite a while. We're going to do our best to bring him to the show. Let us know if you want that. But he's obviously one of the founders of Digital Marketer and so many, many, many other companies, right? So his claim to fame is something that he calls premiums. And the way that he describes it is we obviously for the event we were in Orlando and he shares that. He goes to the park with his new girlfriend and when he's out there, there's like this offer in front of him, right? They're in Harry Potter World and they walk in there and there's this $300 gift card that he sees and it says with the purchase of this $300 gift card, you get this limited edition magic wand. So how this describes Hilarious. Because he goes like, well, this is actually an 80 cent magic wand, right? But go spend 300 bucks so you can get that. And that magic wand was the premium to that $300 offer, right? And the girlfriend, obviously, you know, I don't think money is an issue for them, but she was like, oh my gosh, yes, of course. So she spent 300 bucks and she got this magic wand who is like very, very, very cheap. Or like that's the value of it is nothing compared to like the real product. But she bought the real product because of that thing. Thing, right? So that's how it was introduced to me. And actually the next day we actually went to Orlando, to the parks and I saw the right offer. I was like, that's the offer. So now I'm spotting like premiums all over the place. I'm like, oh my gosh, what have I bought that is really a premium and that I bought because of the premium. So think about that. Have you bought something recently because of the premium? I don't know. So another example that he shared was Columbia Record Company. They have an ad, right? It was like $13, 13 tapes for the price of $1, something like that. And then they get you in like a lifetime membership type of deal. This is how memberships get you. So their premiums have been present in the world for many, many years. And there's an action point down the bottom of something like that, right? So what defines a great premium? And this is something super interesting because as we start looking into our business, for example, that us that we work with content, we have this package on the top end, on the back end that we do content production. And one of the issues that a lot of people have when they come to us is like, maybe the quality of the video is not the best. Maybe they don't have the right equipment, right? So a very, very good premium for something like that, that is higher ticket will be creator box, for example, right? What if we give you this amazing camera, right? What if we give you this amazing computer where you can record all these things and we have access to really, really high quality and that elevates the value of it, right? But the price point is nothing really compared to what the investment you're going to be making, right? So what is that premium? Right? Depending on what you sell, obviously I'm talking about on that side, on the high end. We haven't tested it yet, but I think it's in the books to do something like that. But for lower things, like I would do and we'll share a little bit. We're going to share actually three awesome examples in just a few minutes. So what defines grand premiums? Great. Premium is something that your audience or your clients want, not something that they need. Right? So we often said this in our podcast, right? Sell them what they want, teach them what they need for product. Right? So one of our early mentors, Steve Larsen, with the marketing side of things, he said that every single time, right? So it's like, hey, we need to sell like money, relationships and wealth, right? These are the, like the main, the main three markets. So money. Like, that's why you see a lot of videos on YouTube, like how to make money. That's how we title this episode, Right? How do you triple the retention? Right. How do you increase conversions by 20%? How do you make more money? Right? And that's what attracts a lot of people. But then when people come into the content, they, the courses, the book, right? There's a lot of frameworks and a lot of structure that people need to execute so we can move things forward. Right. For example, premium. So you're like in this kind of inception episode today. Anyways, so remember this something that they want, not something that they need. So examples of this can be coffee mugs, pen. Nothing that implies work. Right? This is supposed to introduce people to buying with you. Let me see if I can find a stat. Okay. Yeah. This comes down in just a second. So here's, here's an example. Let's play. Let's play this video. Let's see.
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My boyfriend is one of the most impossible things ever.
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I can't even think of anything that's new or different or will please him. Catch this.
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It's Sports Illustrated's most exciting Christmas gift ever. The football phone. Free with a paid subscription to si. I would love something like this for Christmas. The football phone works like a regular phone. It plugs into a standard jack and has push button dialing on off ringer, mute button and automatic redial. I hope she orders that for Christmas for me. And the football phone is free.
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That's even better.
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And I don't have to go shopping for it, I hope.
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What do I have to do to get this? It's free.
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If you get Sports Illustrated at their biggest Christmas savings ever, a year subscription at almost 65% off the COVID price. You can be billed after the new year or you can use your credit card today.
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I'll buy it for my father, my.
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Brother and my boyfriend. You only pay 99 cents an issue and the Subscription includes all the previews in the swimsuit issue. Sports Illustrated. I should have thought of that a long time ago. So mom, if you're watching, please for once don't wait. Call our toll free number now and get Sports Illustrated their biggest Christmas savings ever. And get the football phone free. I want this phone.
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That's so awesome. Okay, so obviously for those listening, I mean if you listen to the ad, you know what it is? Like it's a Sports Illustrated. This I think is in the 90s. I was a little kid back then, but this was awesome. They were actually selling a football phone. This is a phone with the shape of a football. And they're showing it to people like, oh my gosh, this is amazing. And it's like, this is exactly what I want it, right? But they're actually selling is the yearly membership of Sports Illustrated through this phone. So obviously the phone is the premium in this case, right? So they're selling that yearly subscription they mentioned 65% off the COVID price. And you get this amazing football phone, which was probably a couple bucks to, you know, fulfill. So it was really, really exciting for these people to get that phone on the yearly subscription. And I'm sure like that rolled out to something else. So this, this ad change, Sports Illustrated, I think they were like the highest revenue at that time, magazine wise because of that ad. So with that comes a huge epiphany, right? So how do, if you go back and listen to that ad or look at that ad in the video, right? They're actually 14 seconds in the video are spent selling the product. Just 14 seconds are actually selling the yearly membership. They just kind of mentioned it. And then the rest of the commercial is actually selling the premium. So kind of diverting the attention to the premium. And then you scanner mention, hey, by the way, with, you know, if you get this phone, you also get like a yearly thing that comes out on the voice, right? So other epiphany, right? Obviously these are lessons from the presentation is don't change the offer. Maybe the offer is not what's broken. Like start trying different premiums, right? So what in your business can you do? You have this offer that you're sending out to people. Like let's say you have a sales page, right? Or in the case of the gym, right, we have the gym membership. That offer never, never change. What we promote is the different premiums that we can put up front to attract people. So with a yearly membership, right, you get this amazing pair of shoes, right? With a yearly membership, you get these Amazing Lululemon outfit, right? With this yearly membership, you get this, like, Lululemon gift card. Like, I don't know why. Clearly, I was in the. In the, in the boutique fitness world. But in your business, what can. What can you do, right? Nothing. Nothing that implies work, right. For that person. So 1, 1. That person spends $1 with you is worth 20 free prospects. So this is actually coming from data on all Perry Belcher's companies. This is why he says, like, if one person spends $1 with me, I know that they're worth 20 of the free prospects. So that means that they're more inclined to spend with you. That action of putting their credit card out and putting it, even if it's for $1, indicates that that person is closer to the desire, right? So closer to you for the service. And it's less friction than to purchase in the future. So what are some of the results that they shared? There was. Oh, this was really, really interesting. So there was a $12,000 course that they increased 16% in sales by adding just a coffee mug. They didn't change anything else in the offer. They just added a coffee mug with like, the same that they had in their community, right? And the $12,000 course sold 60% more. That's crazy to me. Just buy a coffee mug. Okay, so we should be doing continuous profit coffee mugs. So then there was another one with a print newsletter. So if you're listening, you have a print newsletter, this might be applicable to you. So they increased retention 2.6 times. So almost three months more in that newsletter by adding a print version of that newsletter. So same content, it was just being delivered by print. So I think that's worth to me, right? Like, that's almost three months of that person staying here. And then they shared the last example, which was Andrew Locke. So I think the company's called retention Geeks. He actually sends brownies to their people and they increase revenue per member, per member for $100 per month, which was crazy. Oh, my gosh. Okay, so are you getting this? I took that from Russell. Are you getting this? What are the premiums that you have in your business right now? What are the premiums in your content? And remember, when people. When we produce content, there's a. If we go through a framework, right? You have the. The research side, you have the creation, you have the production, and then we have the distribution, right? On that distribution and the monetization aspect, those play together. But on that distribution, we are selling people into watching our content. So what are we giving them. So a good example of this is, could be a hook right at the beginning of the video. What's the hook? That's super attractive. Maybe it's a commercial, maybe as an audio bite, maybe something really funny, maybe something that interests you, that, you know, interest or maybe that hits the spot. Something very polarizing, right. That sells the rest of the video. So again, premiums, not only physical, but can we apply that concept into the production and distribution aspect of your content? So as I wrap up, I have a few minutes left. Here's. Here's some things. Here's some things to maybe consider to move forward. I know that probably your mind is blown if you're not familiar with this concept. You know, you see it every single day.
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But.
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But it's not until they put it in front of you this clear that you're like, oh, my gosh, I've been sold by premiums all my life. So pay attention to big companies. They're spending a ton of money, they're spending a lot of resources into identifying what is the best premium. So go to the top competitors. What are the category kings in your industry? What are the category kings in a different industry, right? Maybe something they're doing something different. Maybe they're doing something very special that you can adapt to your industry. What are they doing continuously to do this? The video that we just watched is a very example, right? Sports Illustrated, the freaking football phone. And they broke every single record. So something else that you can do is go and see old media ads, right? These old media ads tracked all the success. So if they repeat, if they do it year, year, year after year, it means that that ad is working, right? They're not going to be doing something that they spend a bunch of resources to fail, right? So if there's an ad that hits and then it's repeated frequently, that's something that hits. What can you learn from there? Actually, from. Give me one second from Sam Sampar. So there's this week this book called the Adweek Copywriting Handbook. The ultimate guide to writing powerful advertising and marketing copy from one of America's top copywriters, this guy. So these books have a bunch of examples and things. So look for things like this to improve on what you can write and what are the premiums that you can attach to something like that. Another resource is old Agora newsletter. So there's a. There's a website, I'm going to put it right in. The notes is swiped co. So swiped co person, slash copy. Uh, and then there's a newsletter. And they have a bunch of stuff that can be pretty, pretty fun to play with and experiment and applying it to your business and your content. And you know, don't forget, this is the most important thing. People like physical stuff. Nothing that implies work. Right. So, and I think for me, my favorite was spend the your selling side. Spend it selling it, selling your premium, not actually selling the product. Anyways, with that said, guys, thank you so much for tuning to Content Profit Podcast. Go ahead and follow the show in your favorite podcasting platform and on social media, go hit that download button, listen to the episodes and let us know what you think. And we'll see you soon. See you later. Bye.