← The Game with Alex Hormozi
The Game with Alex Hormozi
The Easiest Way to Make More Money With the Same Audience. Hormozi Hotline | Ep 982
00:23:39
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- [00:00]
A
Hormozi hotline. Coming in hot. There we go. Spicy. Here's some. If you only knew meta ads, what would you do faster to make 10k only with one type of outreach method? Well, then just use meta ads, dude. If you're only good at that, then just use the thing that you're good at. Okay. Loose foot politos. 15 to 20,000amonth. YouTube business. Okay. Podcast about soccer in Spanish. Awesome, dude. Congrats. I've been making the same amount per year. I've been focusing on the content and not on the business. How can I scale this up? Okay, so I'm going to bet that you probably have. So I actually don't know what your monetization vehicle is. So I don't know if you're doing sponsorships or if it's ad revenue. I'm going to guess that it's one of those two things because just the way you described it, you probably, if you were selling something, you probably would have mentioned your product. So I'm going to assume that you don't have a product and that you were just basically a media business, which there's nothing wrong with that. So if you want to. So think about it like this. There's. There's a couple of ways you can grow the business. Number one is that you can sell more media spots. That's the easiest thing you could do to grow the business. So that would be like outreach to other people who have, who buy media in your type of business and are willing to buy more ad spots. That's like thing one. That's going to be capped though, based on the amount of eyeballs and impressions that you're getting. But that would be like the fastest lever. The second thing that would take a little bit longer would be like, I'm going to keep what I have and just going to expand my channel so I can charge more with the ones that I've got. That'd be the second way. The third way is, and this is a smart cookie way of doing it, is it depends on how much getting in the game you want to be. Right. And so when you have a media business like you do, I see this as this big continuum of risk and reward. Okay. So if you want low risk here and then you've got high risk and potentially higher reward, you're on this side and I'll walk you through the options that you have besides what I just outlined. So the, the lowest risk thing that you can do is you can just be an affiliate, which means that you send Traffic and you get paid after the sale. All right? That is the single easiest thing you can do. The next thing you can do is you can do media sponsorships, which is what you're doing, right? So now you're saying, hey, I want to get paid no matter what. I don't care what your outcomes are. Okay?
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B
Oops.
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A
Let's just say ship. All right, Whatever. You get the idea. Media sponsors, the next level that you can think about is you can do white label, okay? Which means that you can go and find a product that you like, you can drop ship it, or you can like, you're not manufacturing anything like that, but you white label it and you put your brand on it and people buy it from your channel. The next thing you can do is you can do a minority deal, which is where you find an existing product that you like a lot. So maybe it's one of your bigger sponsors and say, hey, I will make this, you know, more exclusive for me, but I want some points of equity. I want some sort of royalty or rev share on what I can bring you. And so that gives you a nice mix of upside today and upside down the line. And you trade some sort of exclusivity with that. Now, you don't have to do exclusivity. Obviously depends on the size of your brand, but those are things that you could explore. Now, the last and most risky but highest reward would be you own 100%. Right? So you actually just. You build your own product or service and you have free advertising from your existing media business to go sell that. But I want to. I want to warn you, that's getting into the game like you're getting into the business of business. And so these two are significantly easier. This one is pretty easy, too. I might flip these. So like one, two, and minority deal, you basically just keep making media and you just change the economics of how you make media. White labeling and you owning your own thing. Are you really getting into the game of business? You owning a product that you can sell will for sure be the thing that can get you the most money. It's also a distraction if you don't have the resources. Cool. So hopefully they give you a little bit of outline in terms of, like, how you can think through how to make more with the existing thing you have. But the easiest things here is more eyeballs. If you already just like, I don't want to change anything. Just get more eyeballs, make more media or increase sponsors, that would be the easiest, fastest that you could do. All right, cool. So with that Herozi hotline. Craig, welcome to the show. Welcome to the channel. You guys digging this live stream stuff? I think this is fun. This is so much more fun for this increase sponsors. Okay, Craig, mute me in the back.
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C
I did.
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A
You don't sound like Craig.
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C
Oh, I'm Corinne.
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A
Corrine. Okay, rock and roll. Well, Corinne, tell me about the business.
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C
Okay.
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A
Okay, so you're doing 83k a month, right? 83k a month. Your ad spend is 3k per month. Got it. You're an influencer. Okay, let's see. GLP1. Okay, so you're doing. Got it. Weight loss stuff. Okay, cool. And then your constraint is attribution issue. All right, so. So you're doing $83,000 a month. Good for you. Okay, so what's profit on that right now?
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C
So let's see. I'm like nervous. We came to the scaling workshop and it's not all, it's not all GLP1. But overall our business, let's see, a couple months ago was the revenue was 856 and then 389. And then the EBITDA was 544.
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A
856 was a few months ago or like last year?
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C
The last 12 months.
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A
Okay, got it. I was like girl, what happened? Okay, got it. So, so, so you're going up. You're at 83 at a million dollar run rate. Fine. So what's the issue? So, so you have your audience, you solicit the audience to go buy GLP1 stuff. Do you have an affiliate or. So are you basically acting as an affiliate to somebody else?
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C
Correct. I act as an affiliate to lots of different brands. This is the one that we get paid back on the quickest. So that's why we're trying to run ads. Yeah, but our ads, the meta thinks that we're not converting because we can't actually hook up to their backend word.
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A
Okay, so you would need, you just need to add. Do you have software for ad attribution?
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C
No.
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A
Yeah, just literally hook. Like this is a one time setup. It'll probably cost you between. Louis, what are the, what's the range for like ad tracking software cost?
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B
Anywhere from like 1 to 3,000.
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A
Yeah, it'll be like, call it like on the low side like maybe 500 to a thousand. And then it kind of tends to scale up with your, your spend level. So it'll probably be a thousand ish. Call it. But sometimes more to get the attribution. So what it'll do is It'll then feed back the data to Facebook so that you can get a conversion mechanism in place and just, like, shorten the loop. But that's like a Google search on YouTube and how to set it up. And most of those, Most of those are B2B SaaS. So they'll have some sort of concierge that'll do the setup with you, like, super solvable.
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C
Okay. Even if I don't own the GLP1 company.
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A
See, that's a little harder. That's a little harder. If you don't own the. Now, they still might be willing to install your pixel on their page if you're like, a big affiliate for them.
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C
Okay. Because that's been our eternal struggle since.
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A
Like, I would just ask. I'd be like, hey, I want to spend money to advertise your product. Can you give. Can you install my pixel on your page? A lot of people are willing to do that. If you're going to send me money, it's like, sure, go for it.
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C
Okay. Okay. Is there any other workaround as an influencer?
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A
Well, let me do. Let me give you one more detail on this. You can have them clone the page, right? So that's not like you're not getting their data or anything like that. So clone the page and make it Corinne's page. Right? So GLP1 forward slash Corinne or whatever. And that page is only for you. And then you install only your pixel on that page. That way it's not like you're like, using their data or anything like that. So they'll probably be far more likely to be, like, to do that with you.
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C
Okay.
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A
Okay. Beyond that, though. Yeah, as an influencer. So number one, get the tech stack. Number two, ask the people who you are doing this affiliate stuff if they'll just clone the page and install the pixel there so you can spend more money, so you can make them more money. The next thing, though, a third door. How big is the company that you're dealing with?
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C
How big? They've been in business for a little over a year, but she's been doing telehealth for 10 years.
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A
Okay. Well, I was going for size of revenue, but what I would suggest. No, you're fine. Don't worry about it. So what I would suggest doing is saying, hey, I'll make ads for you and my normal affiliate commission. What's your normal commission percentage for them?
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C
40%.
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A
40, right. So I say, hey, I will do this deal with you where you give me 20% instead of 40, but I'll make ads for you, and you can run them.
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C
Okay.
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A
And then they're fronting the cash, and you get paid 20, and you'll go back and forth. It'll be a negotiation, but the end of the day, it's free money for you.
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C
Yeah, I don't know if they'll do that because it's like a direct sales company. So if they do it for one person, I have to do it for everyone.
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A
They don't. They don't have to do it for everybody. They can say that. Something that they unlock after you do, you know, you. Hey, if you. If you make us $50,000 a month and you have a larger beginning following, we'll put money behind ads.
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C
Okay.
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A
I mean, I would do that as a business owner. Like, if you have a massive audience of the types of customers that I have, like, sure. Like, I'll spend the money. And, like, the beautiful part for you is that you're gonna get your brand more recognized.
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B
Right?
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A
So you're gonna get free exposure. You're gonna get paid to do it. But it makes sense for them because your ads, for sure, will decrease CAC by more than 20% than their standard whatever ads they have.
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C
Okay.
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A
Right, so that's door three. Door one is obviously to, like, just clone the page, get ad tracking set up, and then you can run your ads. That's like. That's the super easy one.
- [09:51]
C
Okay. All right.
- [09:53]
A
Feel like you knew that.
- [09:55]
C
Yes.
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A
All right. Rock and roll. This was fun. Let's do this again sometime.
- [09:59]
C
Thank you.
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A
You bet. All right. Dogs do great. Okay. Tashauna. I'm an online fitness coach. I get my clients from YouTube. I post one long form in four to five shorts a day. By the way, excellent framing for this. Like, everyone modeled. Tashana, how can I scale my business to 10,000amonth? I get about five to ten leads a month. Okay. So I'm going to guess that the content itself is not good enough. Number one. And I don't know anything about you, so I literally just saw a tiny little icon. I'm going to say something that's going to be borderline. Borderline. It'll be borderline. All right? So my team can't stop me, all right? Because this is live, so deal with it. So you know what? I won't make this about you. I'll tell you a story. So a friend of mine obviously come from the fitness world, so I know I do something out about this was in the fitness space, and he was listening to all the people and making content and doing the Stuff and he wasn't as consistent as he should be, but like he was doing stuff. And the big issue when I was talking to him, I was like, bro, you don't look in shape, you're not in shape. And so I don't know if that's your situation now. You have to like look in the mirror quite literally and be like, do I have a body that people aspire to have? And like I told you know, this particular individual, I said, you got to go pro, man. I was like, if you want to be a professional, I was like, you got to look like this is what you do, like full time. Like you go like, this is not negotiable. And so every business has this type of thing. It's like if you're a web design business and you have a terrible website like that, sometimes it's the big obvious thing. So I'll say, number one, I would look there. Number two, if you're getting five to 10 leads a month and you're making one, was it long, one long form a day and then four to five shorts a day, was that what it was? That's a lot, that's a lot of content to only have five to ten leads a month. So I don't know what your view count is on your videos, but you probably need to make better content. That's like the absolute simplest thing is like you just need to make way better content, number one. I guess that's number two. Get in shape, number one. Number two, make better content. Number three, you might not be soliciting your audience. So one of the easiest things you can do, I mentioned this earlier, is like you can have people just directly DM you on Instagram and if your content is wholly on YouTube, then you need to direct them to a platform where you can more easily have a conversation. Right? Conversions, having conversations. All right? And so I would say send them to a calendar or put a calendar link for people to just book a call straight with you. So I don't know how you're collecting leads, but if it's like an opt in or something like that, like you can probably just put a straight calendar link on all the places that you make content. So there's five if you're on YouTube, so you've got your profile bio, number one. Number two, you've got your pinned comment underneath of every single one of your videos. Number three, you have your description which you want to make sure that it's the first line with the link with some sort of big reason to why they should click it. Number four is going to be community posts on YouTube. Like, you should post your community posts. And number five is you got in video. So a third of the way through a video, you make a quick call to action to whatever it is. Might be like, hey, by the way, if you like this, then you might want to come, you know, buy more of my stuff or work with me directly, whatever it is. And I would say if you're in the fitness world, then I would make my. Make my CTAs around personalization and accountability. That's the number one. And two things that people want when they're trying to lose weight is they want it to be personalized to them, and they want accountability. So what can someone not get from free Internet content? They're not sure if this is right for them where that is personalized for their specific needs. And they want somebody to call them up and be like, hey, stop being. Stop being. Trying to keep this PC. Stop being. Stop being a man. I have so many words that are just not good. A rotund individual. Stop being a fatty. All right. They need to tell. You need to hear that. Right? That's what. That's what they need to hear. I'm not saying that's what you would say, obviously, but they want somebody who's gonna hold them accountable. Okay, so with that being said, let's rock and roll to. Let's see if Craig. Let's see if Craig will pick up this time. So, Craig, welcome to her mosey.
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B
Holly. Hello, Alex.
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A
What's up, dude? $18,000. 18. $18,000 a month, right? That's where we're at. 18K per month. Ad spend is zero. Okay, got it. Industry is digital services. SEO. Got it. Yes.
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B
Yeah.
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A
And you're selling to E Commerce.
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B
Yes, we are.
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A
Okay.
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B
E Commerce. Brands. Trying to. So basically, business is about a year old and we've got like. My best friend is a really good web developer. We join forces, started, like, using his network to get clients. So We've done around $25,000 in the last 12 months. We're proud to say we've never had a client churn, but we're kind of like a glorified tech support department. So what's anyone with a credit card and a pulse.
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A
What's price point?
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B
Price point. We're basically billing hourly at the moment. I'm putting together, like an offer funnel.
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A
And everything, so don't do that. Yeah, it's like, okay, so what are you. What are you billing right now, on average.
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B
Like £50 an hour, say so like $70 or so, right.
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A
It's just you and him trying to.
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B
With one other full time developer, a few freelancers and everything. So we do offer like you know, we do SEO, we do good web development, ppc, some CRO stuff.
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A
It's kind of like we need to.
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B
Really reign in on our ideal avatar. I kind of, I feel a bit silly because you've already shown me what to do. I need to go move mine in, get a ton of weeds, get them, get our ideal avatar. But.
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A
Well, you do need to change your office. You do need to change the office. Yeah, yeah. The offer sucks for sure.
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B
We need an offer.
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A
Dude, you're selling to people who are doing 30 to 100 000amonth, right?
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B
Yeah, well that's the target audience. Some of the somewhere of it smaller.
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A
But yeah, well whatever. I mean I don't know if you just heard I had. Who do I have on earlier? I had Liz. I think Liz is doing $600,000 a month doing many chat automation and she's selling to E commerce owners doing $25,000 a month. And she's selling 6k a month, right?
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B
Yeah.
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A
You're selling like. Yeah, yeah, a hundred dollars a month.
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B
Yeah. Under, under prices.
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A
Yeah, you're wildly underpriced. But we have to tweak the offer and the pricing together. So I would want to say like, can we say like we'll get, you know, we'll replace 10% or 20% of your traffic with SEO within a year and our services are, I don't know, starter, $2,500, 30 $500 a month just to like get going. Yeah, yeah, I have an offer.
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B
I'm starting to pitch on cold outreach if I can run that by you.
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A
Okay.
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B
Yeah. So I mean basically SEO industry is like really commoditized by retainers. So I'm trying to just ramp up cold outreach and basically offer people like a free personalized audit as a lead, lead magnet. So I'll show them where their competitors are ranking, where they're ranking and what they're missing out on. Give them a personalized loom, sort of showing them where how to improve and then we're going to do like a 28 day sprint to basically fully optimize the website as much as we can. Try and get them as many wins as we can in the first 28 days.
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A
I wouldn't use the word audit guarantee. Yeah, I wouldn't use the word audit because I think that sounds boring and not fun. So I would Say like, look at, like, we will find you at least seven revenue opportunities that you can set up within the next 30 days for free.
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B
Gotcha. Okay.
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A
And then you walk them through it. Yeah, way better. You walk them through it. You say, hey, you can do this on your own. Turn it over to, you know, a web company or we'll do it for you. Gotcha.
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B
And I was thinking like a, in terms of like a guarantee, I was thinking maybe like we refund sort of 25% of our cost, like our profit margin, something like that.
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A
Yeah, that's fine. Yeah.
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B
I'm trying to make it more compelling, but I think SEO is a tricky industry to sell right now.
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A
Yeah. I mean, the thing is it takes time for SEO to work. Yeah.
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B
Well, I mean, we can do a lot in like four weeks and just show them like initial wins and trying because I'm trying to build the trust because everyone's got a million SEO guys in their inbox just like, hey, can you do.
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A
Yeah, hurt. Can you do. Can you like, guarantee around rankings, like, we'll get you in the top 10 or on the first page or something?
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B
It is tricky because it's like we could do everything right. Google changes their algorithm and, you know, their, their site goes down. So I try and pitch it as like, we're going to stack the odds in your favor. But yeah, it's, it's hard to guarantee results. I guess we could guarantee page speed, but I mean, that's not really the be all end all of a business.
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A
No. Can you do anything around just traffic? Not necessarily ranks.
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B
I mean, potentially.
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A
Yeah, I mean, I like the 7 revenue. Like, if I'm just keeping it simple, I think 7 revenue opportunities, we're going to unlock these things. This is our price. You don't have to worry about guarantee or anything like that for now. Got you.
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B
Okay, so. So just like one time, one time kind of lead magnet. Here you go. And hopefully from there book a call. Maybe go into like the Sprint.
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A
Yeah, I mean, I would say, like, here's what it is. We can implement this in your business. Do you want to simpl in your business? Great. And so if you want. Have you read the Money Models book?
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B
Yep.
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A
Yeah. Yeah. I would use a wave fee offer for you. Okay. So for everyone who's watching online, I'll on this. So a wave fee offer is the last offer, I think, in the continuity section. And so when you have a business that like takes time for someone to get started, you do an AB and you say, hey, option one, you keep Flexibility. Right. And so you say, hey, it's, you know, $25,000 and then it's $5,000 a month after that, or I'll waive the 25 and it's $5,000aMonth. But you got to stick for a year because it takes time for the SEO to work. And the good news is that if we haven't made Progress within the 90 days, you can get out. That would be my, like, second. Cool. Like, that way it's like you don't feel like you're committed. Like, but in 90 days, if we haven't, like, you know, what. What to insert here. But if we have an X within 90 days, then we'll let you out of the contract. So instead of the guarantee is that we can let you out of the contract without having to pay the wave fee. Exit. But if we hit our thing.
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B
Yeah.
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A
Then you got to pay that to get out because that would have been the flexibility price.
- [20:24]
B
Okay, gotcha. Cool. That makes a lot of sense. Appreciate it. Yeah. Okay, cool. All right. And just to take a second, I just. I always thought if we ever spoke. I just want to thank you for. For everything that you and Trevor have done into drilling everything down into a way that we can all understand. Because.
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A
Yeah, when it.
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B
When it's like when I'm overwhelmed and I'm overthinking, it really helps so much to. To be reminded equation at the end of the day.
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A
Well, I'm happy to hear it, man.
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B
Yeah. Thank you, man. You're awesome.
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A
All right. All you. All right. Right. See it for everyone online. Talking about page 153 inside the offer. Excuse me. Money models book. All right, so this is the last part of the continuity offers. That's the way fee structure I was just talking about. Okay, let's do. Let's get cooky with it. Okay. Andre file. Okay, so I run an AI cold email. Okay, so just give me one that I. Can you pause it somewhere so I can read it. Pause it anywhere just so I can read it. Okay, hold on. Just someone pause it. Thank you. Okay, so why. Okay, let's. I have a beauty salon. Okay. Albus tube. I have a beauty salon in Romania. Most money come in for permanent hair removal. The rest of people pay me rent. How can I scale it? Okay, permanent. Permanent hair removal. Oh, Jesus. I was thinking like. I was thinking like, I was like, who is paying for this body hair? Got it. Okay. How can I scale it? I find it difficult to get customers and my costs are high. Okay. Most money from okay. Most the rest of the people payment. Okay, got it. So, I mean, I'm gonna guess that you're. I'm not sure if you're running ads, you might be mispriced, but usually, like, this is something that I call pseudo medical, which is one of my favorite spaces to be in because you have so much pricing power. So I don't know the rules in Romania. I don't know if they're, like, super tough to. To do pseudo medical type procedures there. And I probably won't try and translate US Prices to you guys, but, like, I'm guessing I'll just do relative. So the cost of a generic haircut here is probably somewhere in the neighborhood of like, $75. If it's like the commoditized haircut price and the cost of laser hair removal for a package, let's call it like 6 to 8, will usually be like $2,500. And so maybe you can make that appropriate difference. And so if you're looking at your price points compared to, like, your hair stuff that you do, compared to your removal stuff, that might give you an idea of maybe that you're mispriced within Romania. Secondarily, I think this is a super visual in terms of the nature of what you sell in terms of before and afters. And so I think organic Instagram for sure will be, like, monster for you. And given how small Romania is, I think that that actually might work pretty well. So I would go organic first with before and afters. That's, like, easy to do. Google AdSense would be the second thing in terms of Speed. Well, Google AdSense will be faster than posting. And then the third is that I would run meta ads. That would be my, like, three pronged approach. It's like, we probably have to change the price. You probably need to sell bundles, not sessions. You need to make sure that you're priced appropriately and then give it all of that. Then we use those three marketing strategies. Cool. All right.