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The $100 MBA Show
MBA2249 How to Sell More Products Passively with a Deadline Funnel
00:12:36
Urgency sells. But nothing turns people off like fake urgency (y’know, like those furniture stores that’ve been “going out of business” for the last 20 years). So how can you get folks to “buy now” without sounding full of it?
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- [00:00]
Ryan Reynolds
Ryan Reynolds here from Mint Mobile with a message for everyone paying big wireless way too much. Please, for the love of everything good in this world, stop with Mint. You can get premium wireless for just $15 a month. Of course, if you enjoy overpaying, no judgments. But that's weird. Okay, one judgment anyway. Give it a try. @mintmobile.com Switch upfront payment of $45 for.
- [00:23]
Narrator
3 month plan equivalent to $15 per month Required intro rate first 3 months only, then full price plan options available, taxes and fees extra. See full terms@mintmobile.com and we're back folks.
- [00:33]
Jim
It looks like Jim from sales just got in from his client lunch and he's got receipts.
- [00:38]
Team Member
His next meeting is in two minutes. The team is asking can he get through his expenses in that time?
- [00:43]
Jim
He's going for it.
- [00:44]
Team Member
Is that his phone?
- [00:45]
Jim
He's snapping a pic. He's texting.
- [00:47]
Team Member
Ramp Jim is fast, but this is unheard of.
- [00:49]
Jim
That's it. He's done it. It's unbelievable.
- [00:52]
Narrator
On ramp expenses are faster than ever. Just submit them with a text. Switch your business to ramp.com.
- [01:11]
Omar Zenhom
Heyo. Welcome to the hundred dollar MBA show. Fast track your business success every single day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of Webinar Ninja, an independent software company I started with my co found back in 2014. And in today's lesson you will learn how to sell more products passively with a deadline funnel. I've been running deadline funnels in my business Webinar Ninja for the last 12 months and I wanted to gather as much data as possible so that I can deliver this lesson. So you can do the right things and avoid the mistakes I made and create one for yourself. A deadline funnel is basically a specific offer that has a deadline, uses scarcity for a specific subscriber on your email list. This is real scarcity. The deadline will end and they will not be able to get that offer and there's no way around it. Meaning they can't like open up an incognito window on a browser to cheat the system. It's a real offer that cuts off at a real time for each individual. Now why is this so powerful and effective? Well, this allows you to give compelling offers to your subscribers at the right place at the right time in their journey as a subscriber instead of you having to do a sale for everybody on your list, regardless if they have been on the list for five years. Or five minutes. This also really leverages the power of scarcity to be able to sell your products and services on autopilot. But it's not all a bed of roses. There are some challenges and there are some things you need to keep in mind to do it right. But don't worry, I got your back. I'm going to walk you through, step by step, how to create a deadline funnel for your business so you can get some passive sales and get more customers. Let's get into it. Let's get down to business. You might be asking yourself, how am I going to set up this deadline funnel and make sure this all works technically? Well, there are several tools out there that create deadline funnels, but I recommend the best one out there, which is called Deadline Funnel. I learned about it because I met the founder, Jack Bourne over a video call because he just moved to Australia and I wanted to get to know him a little bit. Learned about his company, learned about his product, learned that a lot of my friends use his product to run their promotions and decided to do it for myself. Decided to create a deadline funnel for my own business to see what it's all about. Basically, I want to be the guinea pig so that I could find out if this is a good thing or bad thing. And if it is a good thing, how do you pull it off successfully? Well, I'm here to say it's a great thing. Actually. It's one of the best ways to sell your products and services passively. And the reason why I think it's so great is because it's honest, it's ethical, and it's effective, which is a trifecta that's not that common in marketing. So I'm proud to say that this is a really good methodology. Another reason why I recommend Deadline Funnel is because it's the best tool in terms of technically making sure there's no way to hack the system to get around getting an offer past the deadline. They've done a really good job with this. Now, it's not all perfect. I'm not talking about the product here. I'm just talking about the methodology, the strategy of a deadline funnel. Deadline funnels do take a bit of an investment of time. It does take time to set up, but not so much more than any other offer than you would create, like a live offer. There's a few other things you're gonna have to set up or create on your website. You're gonna do some testing to make sure it works for you, but overall, it's a Good investment for the return you're going to get once it's set up. It's pretty much on autopilot. But I personally, the first time I created my deadline funnel, it took me about, I would say between 6 and 12 hours in total, from just concept of offer all the way to it's live. And my subscribers are starting to grab this offer. So about a couple days work. Now. Maybe I'm a perfectionist, maybe I'm really finicky about my branding and my colors and want to make things look great. And maybe it took me a little bit longer because maybe I haven't been fiddling with my website for a while, but I wanted to do it myself so I can have this experience and share with you on the podcast. But that was my kind of timeline. Took me about 12 hours to finish it up. Now I've run other deadline funnels after my first one and that one was a lot faster because I kind of set things up already in my system and in my account, all the integrations and all that stuff. So it took me maybe about four hours to create the second offer and the third. So what is it? First of all, let's just walk you through what it is all about. Well, it's a system that basically identifies each individual subscriber on your email list and knows when it's been given an offer or has seen an offer and starts setting a deadline, a timer, a countdown timer, so to speak. So let me give you an example. Let's say I have in my deadline funnel or in my setup that hey, whenever somebody is tagged with this tag, like a new subscriber tag, or subscribes to this form or this list, I want you to enter them into a deadline funnel. And the tool Deadline Funnel integrates with your email marketing provider. I use ConvertKit. It works brilliantly with ConvertKit and basically they start an email sequence and in that first email I will start nurturing them, telling them about my products and services. Maybe the second email talking a little bit about specifically how it can help their business. And then maybe the third email I will make the offer. Say, hey, we have this special offer as a new subscriber to our list. Click this link to check out the offer. This goes to a page on your website. This page is just an offer page that you create, but it also has integrated with it a deadline, a countdown timer. That deadline funnel will give you that you can use and that deadline, that countdown is specific to that subscriber. It doesn't matter if they click on their Phone, it doesn't matter. If they click on a tablet or on a different browser, a different device, a different IP address, it doesn't matter. They're going to see the same deadline. Meaning if they click on the offer and they see they have 24 hours for that offer, they're going. And then they check it out on their phone, on their friend's network, an hour later, they only have 23 hours left. So it's a true deadline. And a deadline or scarcity won't work unless you actually do close the doors at the end. So what happens is Deadline Funnel knows that the time is up. And you tell Deadline Funnel, hey, when this offer is over, send them to this page. And this is a page that I've created on my website that says, hey, sorry, you missed the offer, Deadline's over. You may want to check out these blog posts or you may want to check out this video or whatever. The point here is that you have to notify them that you missed the offer. That way, when you run another offer, they will take action. They know that your deadlines are real. Of course, there's going to be plenty of people that do take the offer in time. And this is the magic, the fact that everybody that subscribes to your list, or maybe even could say somebody subscribes to your list and is on your list for a week, then you start giving them this offer. It's up to you. They're entering this deadline, they're entering this new offer. So you're getting sales in an evergreen fashion using scarcity and using the ability to know who has been giving what offers. Now, this is a great, great way to sell your products and services and create a sense of why. Buy now for anything that you can sell over and over. Something like an online course, a book, a training, a software, something that you can sell and deliver easily in a digital fashion. Deadline Funnel works brilliantly with these types of products. Now, I have to tell you, when I first learned about Deadline Funnel, I was kind of skeptical. I was kind of like, well, that's all it does, kind of create deadlines. Yep. Does that actually help you make sales? Does it actually really move the needle? I kind of downplayed it. I didn't really understand the value of it immediately, but when I started using it and started building my own funnels, I started to realize, oh, this is actually quite powerful because I'm letting automation sell my product. For me, it's like outsourcing sales to a system. Right. I don't need to do a Brand new campaign every single day for every new subscriber. It's done automatically. The deadline's automatic. It's pretty powerful. I started out doing this with our online courses with email marketing. So I ran my deadline and my offers through emails. But then I started doing the same thing for my webinars. Meaning at the end of my webinar I had an offer and I wanted to make sure people knew the offer is ending. So with my follow up emails after the webinar, I integrated Deadline Funnel. Basically, it reiterated the offer on the webinar, let them know that hey, they have 48 hours to grab this offer. Here's the page, here's the deadline. And it converted 200% better than without the deadline funnel. I was shocked because I've been running a lot of webinars and I've been running a lot of follow up emails of course on my replay, emails with the offer saying hey, it's going to expire in 48 hours. But there's something about that timer, that deadline where they keep seeing the time elapsing and it's almost over, that gets people to buy. Listen, we are human beings, okay? We are a species that needs to be motivated to take action. Love it or hate it, that's how we're wired. We need a reason to buy and he'll get a kick. That visual of time elapsing is very powerful, more powerful than I thought. And that's why after using it for a year, I highly recommend you set up your own deadline funnel. No affiliate or anything. If you're interested in trying this out, just Google Deadline Funnel. You'll see the website. If you get an email from Jack, just reply and let them know that I sent you from the show. He'll get a kick out of that.
- [11:15]
Narrator
Got a 7am meeting on a Monday expensing breakfast because it's in policy wasting all afternoon submitting an expense report for the that breakfast. If your company used Ramp, you could submit expenses with just a text.
- [11:35]
Omar Zenhom
Yay.
- [11:37]
Narrator
Free your team from expense reports today. Switch your business to ramp.com.
- [11:48]
Omar Zenhom
Here'S the bottom line when it comes to creating deadline funnels. It's a conversion tool, meaning you have to be already used to creating offers for your list or for your webinar attendees. You should be doing this already. What Deadline Funnel does is that it optimizes your conversions, increases your conversion rates tremendously so that your efforts of creating products and selling them and marketing them and demoing them on webinars are not taken for granted. They don't fall flat. You get the most out of your efforts because you're using a tool amplifies the value and a reason to buy now. So when you hear people, oh, you should be optimizing for conversions, you should improve your conversion rates. This is a tool that does that. Now, this is not a magic bullet, right? It's pretty close, but it's not a magic bullet because you still have to have a solid product. You have to have a great offer, and you have to present that offer with good copy. You know, this tool is not gonna write your emails, it's not gonna write your sales pages. That's on YouTube. But the scarcity part, true, real scarcity. They got you covered. That wraps up today's episode. Thank you so much for listening to the $100 NBA show. If you want to show us some love, share the show on social media, give us a shout out on any platform. Facebook, Instagram, Twitter, TikTok. Whatever you choose. Let people know to check us out@100nba.net before I go, I want to leave you with this. The things that work in business have worked for centuries. The idea of a deadline, of a sale, of urgency has been around since the dawn of commerce. And because it's been around for so long, it's ingrained in our psyche to take action. So tools like this are just leveraging what works and have worked for years. So don't make it hard on yourself. Use what works. Thanks so much for listening and I'll check you in tomorrow's episode Q day Wednesday. I'll see you then. Take care.
- [14:11]
Jim
And we're back, folks. It looks like Jim from sales just got in from his client lunch and he's got receipts.
- [14:17]
Team Member
His next meeting is in two minutes. The team is asking, can he get through his expenses in that time?
- [14:22]
Jim
He's going for it.
- [14:23]
Team Member
Is that his phone?
- [14:24]
Jim
He's snapping a pic.
- [14:25]
Team Member
He's is fast, but this is unheard of.
- [14:28]
Jim
That's it. He's done it. It's unbelievable.
- [14:31]
Narrator
On ramp, expenses are faster than ever. Just submit them with a text. Switch your business to ramp.com.