The Value Hack: 10x Your Revenue with This Powerful Strategy
What if I told you that you could make 2, 3, 4 or 10x more revenue without spending an extra dollar on new leads?
At some point I’d probably go out of business if everyone did this, but since you know me and I know you want to grow your company in a HUGE way.
Not familiar with a value ladder?
That’s okay, let’s explore it a little bit.
A value ladder allows you to build revenue before and after your main product or service which in turn allows you to take your current customers up the value ladder.
For example, let’s say you’re like us and offer our main flagship product, LeadCraft for $1,000. Now there are two options:
Scenario #1: You aren’t a customer yet, but you like what we talk about and know that our methodologies can help you grow your business.
Scenario #2: You’re already a customer, you purchased something that helped you and you want to get to the next level.
Fact: People aren’t ready to buy from you right away.
If you know anything about our SSF methodology, you understand that the buyer’s mentality has 3 main stages: Sidewalk, Slow Lane and Fast Lane. Further, the potential customers that you come into contact with aren’t always ready to buy your flagship product or service right away.
They may not fully understand it’s benefits.
They may not fully trust you.
They may not have the money.
Fact: We just need to get them to say YES!
And that’s where the first part of our value ladder comes in.
If I attract an entrepreneur that’s interested in growing their business but they just don’t understand how our program works, it’s likely that I won’t be able to get him into that program.
But, if I go to the same person and offer a $97 live training that gives actionable information on how to use Facebook Advertising to generate leads, that’s a lot easier to say YES to, isn’t it?
Now, does that person buy our $1,000 program after that training?
No – probably not. They need time to execute. That’s why the next step would be to give them a prebuilt funnel where they can take everything they’ve learned, plug and play and start getting results.
We want them to associate us to success and high-value.
I mean, think about it, they take this, implement it and it has the smallest amount of success, they’re going to come and buy our product.
But which product?
Well, that’s where we’re moving towards more of a modular product.
Up to this point we’ve sold 2 different flagships: our $2,000 Semi-Guided Program and our $4,500 Guided Program. In the next few months, we’re making this modular and having three price points: $1,497, $2,997 and $5,997.
$1,497 will be content-only, do it yourself.
$2,997 will be semi guided.
$5,997 will be guided.
And for those that want to work with me directly we’ll offer a $29,997 package.
“There seems like a lot here.”
Not really, because we’ll only ever offer you the $1,497 and $2,997 option. Remember, Scenario #2, that’s where our $5,997 and $29,997 offers come in. It’s once somebody is in the door and has that moment where they say:
“OH my god. I can build a 7-figure business! All I need to do is sacrifice a little profit for 3 months.”
See, there are certain ‘light-bulb’ moments that we need to create once someone is a customer. For us it’s bringing them to the next level and then transitioning to our monthly mastermind.
This helps us to increase the value of what we teach, while simultaneously allowing us to increase their LTV (Life Time Value) and build our Recurring Revenue (no, it’s not passive – I’ve gotta work my ASS of for these guys).
“Ok Scott, let’s have some specifics.”
Why don’t I take you behind the scenes of INFINITUS and give you a glimpse of what things will look like just 6 months from now?
Every time we create a new product for our value-ladder we ask ourselves this question:
“Does this serve entrepreneurs that make between $60,000 to $500,000, and who want to make more than $1,000,000 per year in short order?”
If the answer is yes, we explore it.
If the answer is no, someone on my team tells me my idea is nice, but to stop focusing on it. (thanks guys!)
Before January 1st, 2017, this is what our value-ladder will look like:
Level 1: A series of eBooks and guides that are less than $17. They’re found in various places online, including the Kindle Store, and their purpose is to get someone to buy something, simply due to the fact that anyone will spend $17 on almost anything if it promises to give value to a potential pain.
Level 2: A series of paid trainings, which we release live once every 6 weeks and then as evergreen trainings every 8 weeks. These come with a related guide and are typically 3 hours long with some form of bonus. They’re priced between $97 and $297 and are inexpensive pain ‘healers.’ Someone can apply them to fix a problem and become knowledgeable quickly.
Level 3: We offer paid prebuilt funnels. These range in complexity and are plug and play. They don’t specifically teach lead generation but are designed for someone who doesn’t want to learn (or thinks they don’t want to learn). People buy them and can have the funnel online within 7 days. These cost between $497 and $1,497 and are 100% self-serve.
Level 4: Our content program which is a self-study program with no direct support on our community or by email (outside of technical issues). In less than 12 weeks, someone can setup and know how to use funnels for themselves. These will debut at $1,497.
Level 5: Our Semi-Guided program which builds on the content program, but with group calls, an exclusive Facebook group for homework review and a strategy call with our team. This program will debut at $2,997.
Level 6: Our Guided program for those that buy our Semi-Guided, which adds 1 on 1 strategy calls and more group calls, which will be priced at $5,997. This is designed for those who want to ensure they do it near-perfect from day one.
Level 7: The Guided program, but with the calls coming from me. This is as close to a mastermind-level or working with me 1 on 1 as it will get. This will be launched in January 1st assuming that it’s profitable (I never want to work for dollars, I want my knowledge to sell itself).
Now, those are our main ‘products,’ but what about continuous programs?
Good question. One of our goals is to have our company’s core expenses covered by monthly revenue. That’s why we have 3 levels.
The Limitless Inner Circle – This is our lower-tier program that anyone can join if they are in our Limitless Business Group. This will be released at $37-57/mo.
After-Hours Mastermind – For people who have graduated from our INFINITUS Business Growth program, need a higher level of support and want all of our future products for free. This will be released at $197-397/mo.
Executive Mastermind – In-person masterminding and a further level of accountability with focus, not just on online marketing, but business growth as well. This will be released at $997-$1997/mo.
Now, people can decide how they want to consume our value.
Some people will go from Level 1 to Level 7 in a week. In other cases it may take years for them to work up to just buying our program.
But that doesn’t matter. What does matter is that for our target perfect audience, we can serve them the best way possible no matter their financial situation, how much time they have, which way they learn or what business goals they have.
We are everything for our perfect customer.
“Scott, this is all great. But, how?”
I put together some thinking so you can implement this into your own business and start profiting far more than you currently do, allowing you to increase the value of each customer.
Here are the secret steps:
- Develop your ‘Welcome’ offer, something that will turn anyone that is a qualified lead into an actual customer. It shouldn’t cost more than $50 and should take less than an hour to consume, with at least one thing they can implement right away.
- Develop your ‘Action’ offer, which builds further credibility and costs roughly 10-20% of your main offer. This should have a few hours of implementation, but once done, it will get at least one result almost immediately and make the person feel good about themselves and YOU.
- Here’s the fun part: You want to take your product or service and divide it into at least 3 parts, Low End, Middle and High-End. Keep in mind that you never really want to show the High-End too much until they are in the program. You can mention it, but don’t base your marketing around it. At the end of the day, you want to get that person to invest in the Low End product and then have them upgrade to the middle or high-end as soon as possible.
- And now we come to our continuous product. How do you retain someone? Is it an online community? Can you provide a certain amount of service on a month to month basis? When I was in the web development world we would provide hosting and support and generate over $250,000/yr doing just this. Every business has the ability to do it, you just need to think a little different.
“Great, but how do I implement it?”
A great question actually.
You want to develop what is easiest and will get the most results in the shortest time. For us, it was paid trainings, then our book. Now it’s our prebuilt funnel and after that it will be our multi-tiered program.
You simply need to ask yourself, “what will get me the MOST amount of people that consider themselves CUSTOMERS of mine so that I can change the tone and message?”
Then go with it.
Remember, the profits build as you go further and further down the value-ladder. Upfront, you’re simply proving that you can add an incredible amount of value to that persons life. After that point, when that ‘switch’ is flicked on, you’ll never have to worry about making money.
Remember, you’re going to need leads. A lot of leads in order to make this work properly and effortlessly. Any business in 2016 can have hundreds of leads coming in every single week and the beauty of combining this methodology with a marketing funnel (specifically the Sidewalk, Slow Lane, Fast Lane) is that you’re able to know who is in those lanes.
You’re also able to pay for your leads using your lower end value ladder, so it costs NOTHING to generate lead after lead after lead.