← Strategy Hour | Online Marketing for Business Growth
Strategy Hour | Online Marketing for Business Growth
912: Fan Favorite- Leveraging Digital Products to Get More Qualified Leads
00:32:49
And we’re talking about how to do this while NOT getting caught in the weeds of flashy marketing strategies.
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Abigail Pumphrey
In my opinion, the profit on your first sale is not super critical. You getting paid at all to bring in qualified leads is better than 99% of people marketing on the Internet. Let me say that again. You getting paid at all to bring in qualified leads is better than 99% of people out there. Welcome to the Strategy Hour podcast brought to you by Boss Project. I'm your host, Abigail Pumphrey and I'm dedicated to supporting online businesses. I don't believe in one right way to build a business. I'm here to help you build business your way. One that supports not only the life you have, but the life you want. I'm on a personal mission to help you become financially free. I'm taking all the lessons learned as I turned a layoff into a seven figure online business. I'm here to help you prioritize your life every step of the way. Whether you're creating your first digital product, growing an email list, or scaling an already profitable business. Business settle in. It's time to talk strategy. Looking for a way to make a difference with your morning coffee? Grab a bag of talitha coffee@bossproject.com Coffee. Every purchase helps support survivors of human trafficking. Make every cup count@bossproject.com Coffee if you want more leads or you're interested in selling and leveraging digital products, then today's show is going to be for you. We're talking about how to take those digital products specifically and attract leads and get paid in the process. Before I get into it, I have to give you a battle of the IG Accounts update. I took a little bit of a gamble and you may have heard this story, but if you haven't, I wanted to give you a little background and context. I decided that after growing my Instagram account to 45,000 people that I was going to start over. And I know that sounds a little wild, but I need you to know and understand that that account is 11 years old. It has been through a lot of transitions. It has been everything from my personal account to a renovation account to design agency account to the growth of Boss Project. And I just don't think that everyone who's following that account is still in alignment with what I am putting out into the world. Which is fine. After 11 years, there's going to be people at different stages, doing different things, going about life different ways, all about that. Plus, I know for a fact that there's a lot of those people that started following that page because it was me, not because I was in business. And I really want to reach business owners, specifically people who want to grow online. And I want to connect with them and give them tips, tools, strategies, support inspiration for their growth journey. So a little bit on a whim, but also kind of four years in the making, I decided to start over. Right at the beginning of the year. I had an additional personal account that I had been over the last 90 days, putting more of a mix of personal stories and business stories to kind of make it the all things my world account, if that makes sense, where it is a personal brand. But I'm also letting you into my life and talking about the things that are coming up on the day to day somewhere I can act like a whole human who has, you know, real life obligations and runs a successful company. And while that had been going well and that account was growing, I just felt like deep in my bones that it could be growing faster. And I wasn't sure if this account would ultimately get the results that it could if I had been talking about one subject from the beginning. So I opened a brand new account, very similar naming, so it's Abigail Says and Abigail Pumphrey. And on the Abigail Pumphrey page, from the very first post, everything was very niche and specific and talking to one ideal client primarily about one topic. And now while I have since shared it to this podcast and posted it on my email list and shared about it on my other personal page, I have been really focused on that page specifically continuing to talk about just that subject and not necessarily bringing up all the other things that are happening outside of it, though people who were outside of it have been introduced to it, if that makes sense. And you know, I'm going to be really honest, I haven't gone viral. I haven't seen like overnight massive new followers. I only have a few hundred. Like I went from zero to about 300 or so in two weeks on just that account. But if you were to look across all the accounts, the growth was about 502 weeks, which is literally more than double of what I did the entire last year. So I picked up the pace a little bit, one might say. Ultimately, I'm trying to test a theory because I want to be able to answer for you guys. Is it worth starting over on social media or should you be pouring your time and attention into reviving an account? And I still don't know the answer. Like we're only at the time of recording this, like 16 days into the month, so I don't have a magic eight ball as to what this will look like, what I can tell you is in that timeframe, the new page is growing at a faster pace than any of my other pages. And in all cases, it is five to seven years newer than all of the other pages. Everything else, whether I put time and attention there or not, is a legacy page of some sort. But the interesting thing is I didn't want to just put down the other areas and say, I'm just going to stop doing these things. Instead, like, I am really, truly trying to test, does reviving still work? Like, can you get people re engaged who maybe have fallen off in front of new people? Can you get momentum? And early theories would say the answer is maybe, like, maybe yes. Which is honestly a little bit surprising because it has been a lot slower, and in the last couple of weeks, it has picked up pace. So it was growing at about, like, once I was starting to do about the same amount of content on both. It was growing at about a quarter of the speed. Okay. So, like, if I added 25 followers on Abigail says, then a hundred followers were joining the Abigail Pumphrey page, which. A quarter of the speed. Like, there's going to be a line that crosses in the future where the new page would far surpass what my current page is doing. But it does have, like almost 4, 500 followers on it. And so it's going to take a hot minute to get there. Unless something kind of pops off at random, which, honestly I'm not sure I want it to, because slowly getting the exact right people in the door, I think is probably better long term than having a huge pop, unless that pop is very targeted. So it honestly makes me nervous to, like, actually go viral. Okay. To keep this shorter, the Abigail says page is picking up speed. So it was a quarter and now it's only a third of the speed. But in the last few days, it is growing by more people per day than the other account. So, like, I need to literally chart this and see, like, is there kind of a curve going on that really means that reviving would be worth it. I haven't decided if I'm gonna do this kind of experiment for 30 days or 90 days or somewhere in between, ultimately, because it's a lot of work, like, it is a lot of work to produce content for multiple pages and show up at the level that I want to show up at. And I think long term, having all that content in one place, like, I could do the same amount of work, but put it in one location and I think it would perform better overall. And so I don't want to get too far down the rabbit hole of doing the thing, but there is still a part of me that's unsure. And the reason I say that is, you know, I've been observing a lot about what's happening over in that world. And I have noticed, whether you realize it or not, that a lot of these small accounts that are growing quite rapidly are run by people that have been doing business a long time, and they're using it as a strategy to get new people in the door in a new way. And I can't decide if that feels good and in alignment or if it feels like a tactic. You know what I mean? So I want to make sure I'm staying authentic to me, staying authentic to my values. What that page ultimately becomes or if it takes over, we have yet to be foretold. But in the meantime, you can go find out and watch what's happening in real time by going to Boss project on Instagram. The Abigail says pages linked in the profile. In case you can't spell Abigail, it's a B, a G, a I, L says. And then the Abigail Pumphrey page is linked in the bio where it says race to 10k. So check it out, see what I'm doing, pay attention, watch my stories and watch my posts and reels to really kind of get a grasp for how I'm adjusting marketing. And I do want to be clear that, like, the majority of my time and attention from a marketing perspective is going there. I'm still writing emails, I'm still producing the podcast. But in terms of, like, new ideas, new innovation, consistent posting daily, that is where it's happening. All right, so let's get to the meat and potatoes. How do we leverage digital products to get more qualified leads? I think some of you are sitting here thinking, like, oh, my gosh, I have to grow an Instagram account. Do I have to do reels? Do I? Not necessarily. I don't want you to get too far ahead thinking about the marketing strategy. Instead, I first want you to understand what is possible and what it will functionally do for your business. And then ultimately, how you decide to market it is up to you. I have lots of ideas, lots of theories, lots of what's working right now, lots of more timeless strategies, and you can kind of pick and choose. But let's get into it. So if you were to look out at the marketplace, most people who are shouting out digital products, digital products from the rooftop, they're focusing on the profit or potential earnings from that initial Purchase. No, babe, no babe. Like that doesn't matter. I mean, yes, it's great. Any income earned from an initial sale, fantastic. But some of these people are not selling entry point digital products. They're selling things that are technically more their signature offer, but they're trying to market it as an entry point in which it's not. In my opinion, the profit on your first sale is not super critical. You getting paid at all to bring in qualified leads is better than 99% of people marketing on the Internet. Let me say that again. You getting paid at all to bring in qualified leads is better than getting 99% of people out there. Most people, most companies actually plan to pay at this stage. It's called cost of acquisition. If you've heard a company talk about this. Cost of acquisition is the cost to bring a qualified lead into your world. So most people are planning to purchase them, usually via some form of advertising. If you were to stand on the stage at Shark Tank and say, well, actually people pay me to join my list, their jaws would be on the damn floor, I promise you. And they'd initially think you were probably full of shit, ask you a billion questions to really ensure that you actually know what the hell you're talking about. And once you prove to them that you are in fact legit, they would sing Kubaya and invest immediately in what you're doing. Because this isn't the norm. This is not how people are typically running businesses. But you're not a typical business. I keep seeing it happen. You're caught in a loop, waiting for that perfect moment, overthinking every decision and comparing your progress to the curated realities of others online. I've been there too. And I made a shift that changed absolutely everything. It simplified my approach and allowed me to start trusting my intuition again. Truly, everything changed. My business doubled, then doubled again. I rocked $300,000 launches, enrolled over 10,000 students in a single course and finally started showing up in a way that felt effortless and aligned. Now I'm sharing those exact tools and strategies in my new three part workshop series, Mindset Reboot. Right now, you can grab it for just $11. Hurry. Visit creativetimpletshop.com mindset to find out more. We're not huge corporations. We don't have 500 employees. Our goal isn't necessarily to get to 20, 50, 200 million. A billion dollar company. If that's your goal, then I'm not sure this is the environment that's meant for you. The people who are here want to Build a business that supports the lifestyle they want to live. And the amount of money necessary for that lifestyle is dependent for the person. Sure. Some people want to make a couple of million dollars. Amazing. A lot of you would be so content with 250,000. Some of you would feel like it was life changing to make 100k. So there is not a number that is required for this to be something you should pay attention to. That's not the point here. But the reason it's different is because this kind of business is different. It is not the typical scale, scale, scale, scale, scale. Like that's not the plan. The plan is scale to afford the life you have and then scale to afford the life you want. And when you want little life improvement upgrades, you make a little bit more. You know, the magic sauce here is when you use a digital product to attract the right people, you will literally utilize magnetic messaging and convert people who won't just buy once, but they are primed and ready for your other offers. I've had people who've spent $29 and within two days invested two grand. I've had people who have invested $29 and have gone on to spend $40,000 plus with my company over the course of a few years. What? Like that is wild. And the majority of that income was organic. Like, have I used paid strategies to get people to convert into digital products? Yes. So I'm not going to sit here and lie to you and say that I haven't done that strategy. I have. And with that plan, the plan was to get as close to break even. Like if I could make a dollar, it was still worth it to bring that person into my world. Because me getting paid to bring in leads is still better than the 99%. But I've also used a ton of organic strategies that meant it costs me nothing but my time to build a marketing plan and get it in front of people. And then you're earning a profit because it becomes a multiplication thing. Like you sell one, okay, you're only making 20 bucks, 40 bucks. But what happens when you sell 100 of them, 200 of them, a thousand of them? I'm not saying it's going to happen overnight, but it doesn't take more of your time every single time someone purchases. And there's very few things in business that don't multiply the needs from you the more you do of it. Actually, depending on where you're at in business, digital products can do one of three things for you more specifically. So let's start with brand new businesses. Maybe you haven't launched at all or maybe you started some social media accounts but you haven't sold anything yet. Maybe this is a little bit of a side hustle and it's not making a full time income yet. Okay, great. You can utilize a digital product to attract more of the right kind of people and build an audience of buyers. So when you're ready to go and sell your more signature offer or the next step in your offer ecosystem, you have a pool of people who are primed and warm and ready to say yes. Now for more established businesses, this is wild. Okay, because what this will do, say you are currently like 80% booked, okay. And you would love to get leads a little bit more on autopilot. You could utilize a digital product to attract and essentially pre qualify people and make that transition from purchase to second purchase very, very, very quick. For some of you it'll be hours. For some of you it will be days. For some of you it may be a couple weeks, a month or two. But still like the timeline from awareness to a more signature offer purchase can be very short if you're targeting the right people. And it could mean that you get booked out more quickly further in advance or even allow you to take more of the kind of projects you actually enjoy doing rather than feeling like you have to say yes to things that are just kind of okay or like adjacent to your favorite things to do. Like you can do it, but it's not the thing you are like made to show up on this planet for. You know, now I know this group of people exists because you guys send me messages all the time and some of you want to take less one on one work and buy back some of your time. You're not necessarily interested in continuing to raise your prices on your services. You could and you might, but you would like to do less one on one delivery and add in one to many products into your business. Some of you are even ready to burn it down to the ground, start over and never do services again. And I hear you, I hear you. For people in this camp, digital products can be a ramp. They will help bridge the gap between where you are now and where you want to go. Is it ultimately going to be the only offer you can build that's going to remove you from services? No, it is the first one. You likely will need other offers to make up the income necessary for you to fully walk away and that is okay. And it can take time and that is amazing how quickly you make this transition or how big of a leap you take, that's up to you. And I can definitely walk you through it and give you my advice. But this is an opportunity for you to change. Pass. My biggest kind of word of caution here is don't do it and drop everything that's working right now. Like, I want to see you continue to be paid, continue to be fulfilled and also add this on as an opportunity and as it starts working, then letting those things go. But that's just my two cents. We can definitely talk about what it looks like to go more cold turkey, because I definitely did. I know in a really ideal world you just wish leads would just show up on their own. And I used to think that that was like a pipe dream and that y'all were blowing smoke and you needed to work harder and like to some extent maybe, but like ultimately, if you build this the right way, a digital product can't attract people. Are you still gonna have work to do to attract them? Yes. Are you still gonna have work to do to make it a no brainer offer and have a no brainer sales page that's easy to check out? Yes. But once it's set up, you can rely on it again and again and again and it's a strategy that you can continue to implement on repeat. Now, a lot of people would say when you're trying to build your list that you should build your list with a free lead magnet first. You could. I'm not saying you can't. I'm not saying you shouldn't have. I had free offers a hundred percent. I'm not saying that that's not a thing. However, you need to keep in mind that those people are not always ready to invest. They're usually typically fall in one of two camps. Either they want to figure it out on their own and they're hoping they can get enough free knowledge from you that they can gather a little bit here and a little bit there and a little bit here and do it themselves. Or they're just simply not ready financially. And the problem with that is that you get excited because you're seeing growth and you're getting these people in the door. And then you get frustrated that your offers aren't selling or converting and they might even be clicking and showing interest and like saying they want the things and not buying. And now all of a sudden you think you're the problem, that your offer is the problem. And that's usually not true. It's very rarely the offer itself. It's more likely the who you're trying to sell it to. That's the problem. Someone who invests with you wants is seven times more likely to pay you again than someone who's never paid you at all. Someone who has paid you once is seven times more likely to pay you again than someone who's never paid you at all. So it only makes sense to me that by building your list through a paid offer that you are getting people in the door who are a willing to invest, who see value in what you're doing and are way more likely to buy your next thing anyway. It's seriously such an ideal way to bring people into your ecosystem of offers, earn their trust and move them through step by step by step. I want to see you be successful with this. I want to see you leveraging digital products to get paid to grow your list. Whether you're new to business or you've been doing this for a decade, whether you've sold digital products in the past, like this is still a huge opportunity for you to tweak and refine to make sure that messaging is on point and it's hitting at the right objectives that are going to make this a no brainer. Because I've tried a lot and I know what will work and what you're going to run into issues with. And the answer is not just like, we're all not going to do the same thing. Okay, I'm not going to have you come in here and be like, now all of us are going to build templates. No, that doesn't make sense for every industry. I'm not going to have all of you come in and you're going to build a guide. Nope. That makes sense for some of you, but not all of you. I'm not going to have all of you come in and say you need to build a mini course. For some of you that would be a bad idea and I'll tell you why. But like I want you to find not only the format that makes sense, but the subject matter that is going to be ideal to magnetize the right people to you. And there is a method to this. There is a madness to this. And I have done it again and again and again. Over $3 million in my business have come from just entry point digital products. So when I say I have experience, I, I am not joking and I am getting in the weeds with people who are brand new to this and I am walking you through it step by step by step inside my brand new program digital product Jumpstart. You can get all the details there's like no obligation when you go to the page. Just go. Find out more@bossproject.com jumpstart if this makes sense for you, if this is a world you want to live in, if you're excited about what this could do for your business, you are invited. I want to help you nail down that profitable idea and get into pre sales in the next week. And that is possible inside jumpstart bossproject.com jumpstart I can't wait to see you inside. If you have any questions at all, hit me up on Instagram. I'm available in the DMs for you. I love you. I mean it. Have a great week. Hey, a few quick favors before you leave. I'd love if you'd share today's episode, send it to a friend who needs to hear it and post on social. You can show us where you're listening from, your favorite takeaway, or why someone else should listen. Be sure to tag me, Abigail says and ossproject so we can share it. Okay. Second favor to get podcast updates and all the behind the scenes news from bossproject. I'd love if you'd join my VIP list. Just head to bossproject.com signup to make sure I have all your contact details. Really love this show. It would mean so much to me if you'd leave a rating and review. It not only helps more listeners find the show, but allows us to bring on quality sponsors so we can keep bringing you this valuable content for free. Thanks so much for listening. Until next time.