1 00:00:00,000 --> 00:00:06,880 right balance between investing in ads for growth and ensuring a positive return on investment. 2 00:00:06,880 --> 00:00:09,120 That's a fine question we might cover. 3 00:00:09,120 --> 00:00:14,160 What metrics or benchmarks should we look at? 4 00:00:14,160 --> 00:00:15,160 All right. 5 00:00:15,160 --> 00:00:17,160 Welcome in to Vision Pros Live. 6 00:00:17,160 --> 00:00:18,920 I'm Jackson Calame. 7 00:00:18,920 --> 00:00:19,920 I'm your show host. 8 00:00:19,920 --> 00:00:26,360 We will be doing interviews for visionary entrepreneurs and guest leaders who are building 9 00:00:26,360 --> 00:00:28,000 fantastic visions out there. 10 00:00:28,000 --> 00:00:32,440 Ultimately, I just want to go through some of the things that might help you with your 11 00:00:32,440 --> 00:00:33,440 vision. 12 00:00:33,440 --> 00:00:36,520 If you have a vision that you're pursuing, drop a link in the comments and let us know 13 00:00:36,520 --> 00:00:37,520 what that is. 14 00:00:37,520 --> 00:00:44,000 If that's a business or a brand, if it's a nonprofit that you run, be happy to promote 15 00:00:44,000 --> 00:00:45,840 it, be happy to talk to you about it. 16 00:00:45,840 --> 00:00:49,040 And if you'd like to apply to be on Vision Pros and be interviewed about that vision, 17 00:00:49,040 --> 00:01:10,240 then by all means, feel free to reach out. 18 00:01:10,240 --> 00:01:12,400 Hey hey and welcome in Vision Pros. 19 00:01:12,400 --> 00:01:18,400 I'm your host, Jackson Calame, first class business founder, the co-founder of Able 20 00:01:18,400 --> 00:01:20,760 Health and the CEO of Pod Booker. 21 00:01:20,760 --> 00:01:27,320 We're going to be diving into a topic that I just see so many business owners struggling 22 00:01:27,320 --> 00:01:32,480 with and that's how do I invest in my brand properly, marketing, advertising? 23 00:01:32,480 --> 00:01:34,760 What am I supposed to do? 24 00:01:34,760 --> 00:01:37,960 What channels do I put my money towards? 25 00:01:37,960 --> 00:01:41,280 I put it towards Facebook or LinkedIn, et cetera. 26 00:01:41,280 --> 00:01:45,280 There's so much research that needs to be done on the front end the right way in order 27 00:01:45,280 --> 00:01:49,080 to make sure that you're moving forward correctly or you need to find the right strategic partner 28 00:01:49,080 --> 00:01:50,120 to help guide you on that. 29 00:01:50,120 --> 00:01:54,760 My hope is today that I'll walk you through some systems that will help you understand 30 00:01:54,760 --> 00:02:02,160 how to gain clarity on this subject that is one that people don't want to talk about. 31 00:02:02,160 --> 00:02:05,120 It's a tough conversation to have. 32 00:02:05,120 --> 00:02:08,200 And so why is it a tough conversation? 33 00:02:08,200 --> 00:02:14,080 Because you got to, as a provider of services, you have to constantly walk this balancing 34 00:02:14,080 --> 00:02:18,440 act of what do I say that's not going to offend this person, but it's also going to inspire 35 00:02:18,440 --> 00:02:20,320 them to move forward. 36 00:02:20,320 --> 00:02:24,880 And especially around a subject that's so controversial because there's so many mainstream 37 00:02:24,880 --> 00:02:31,320 ideas that are talked about that could be followed in order to grow your brand. 38 00:02:31,320 --> 00:02:33,340 But most of them are bogus. 39 00:02:33,340 --> 00:02:36,760 Most of them are based on variables that don't pertain to your brand. 40 00:02:36,760 --> 00:02:37,760 Should you be on TikTok? 41 00:02:37,760 --> 00:02:41,000 Well, Bill Gates went on TikTok. 42 00:02:41,000 --> 00:02:47,960 He's got he can win on almost any platform with how far and wide he's well known. 43 00:02:47,960 --> 00:02:50,320 But what about your newer brands? 44 00:02:50,320 --> 00:02:57,160 If you're a brand new entity, what should you be doing to draw buzz and attract people 45 00:02:57,160 --> 00:02:58,160 to work with you? 46 00:02:58,160 --> 00:03:02,600 And when it comes to testimonials and case studies, do you have them? 47 00:03:02,600 --> 00:03:03,720 And does that matter to you? 48 00:03:03,720 --> 00:03:07,600 Are you good enough at selling that you don't need those aspects as part of your brand to 49 00:03:07,600 --> 00:03:08,600 sell? 50 00:03:08,600 --> 00:03:13,520 There are so many things that people have a tough time talking about and don't want 51 00:03:13,520 --> 00:03:14,520 to hear. 52 00:03:14,520 --> 00:03:17,600 But, you know, I'm going to say this, he that has ears, come here. 53 00:03:17,600 --> 00:03:19,640 He that has eyes, let him see. 54 00:03:19,640 --> 00:03:25,000 We're going to dive in and this is going to be an application based session. 55 00:03:25,000 --> 00:03:29,100 So whatever you hear today, if you're listening to the episode, know that there's a video 56 00:03:29,100 --> 00:03:33,600 that goes along with this where I'm actually showcasing the materials that we use to qualify 57 00:03:33,600 --> 00:03:38,180 to pre-qualified clients and make sure that they are ready to scale their businesses without 58 00:03:38,180 --> 00:03:39,360 these assets. 59 00:03:39,360 --> 00:03:41,760 We will not grow a business. 60 00:03:41,760 --> 00:03:42,760 We don't want to. 61 00:03:42,760 --> 00:03:43,760 We don't want to grow business unethically. 62 00:03:43,760 --> 00:03:47,000 We want to grow businesses that are set up for scale. 63 00:03:47,000 --> 00:03:51,400 And if they're not set up for that, we've got to find that reality out in order to make 64 00:03:51,400 --> 00:03:53,260 sure that they're ready to move forward. 65 00:03:53,260 --> 00:03:59,080 But we also don't want to spend money before forecasting how much money we're going to 66 00:03:59,080 --> 00:04:00,280 make. 67 00:04:00,280 --> 00:04:03,840 And if we don't know that, then why are we spending money to begin with? 68 00:04:03,840 --> 00:04:04,840 Right. 69 00:04:04,840 --> 00:04:06,560 You should calculate all this in advance. 70 00:04:06,560 --> 00:04:08,720 That way you're not wasting any money whatsoever. 71 00:04:08,720 --> 00:04:12,480 So Jaime is going to drop a link in the comments right now. 72 00:04:12,480 --> 00:04:14,280 This is going to be a free gift to you. 73 00:04:14,280 --> 00:04:20,040 It's our $99 revenue growth workbook intensive, which comes with a workbook and a seven minute 74 00:04:20,040 --> 00:04:24,400 video from me where I explained that we use this tool to launch all of the viral video 75 00:04:24,400 --> 00:04:26,720 ad campaigns that we launched at Video Power Marketing. 76 00:04:26,720 --> 00:04:27,720 It's a phenomenal tool. 77 00:04:27,720 --> 00:04:31,480 We would have never run a campaign without running a client through that process. 78 00:04:31,480 --> 00:04:36,680 It didn't matter if it was Nordic Track or Vivint or John Lee Dumas or Michael Hyatt, 79 00:04:36,680 --> 00:04:38,680 T. Harvacher and everybody that we worked with. 80 00:04:38,680 --> 00:04:41,880 We had to make sure that they had a formula that was set up for success. 81 00:04:41,880 --> 00:04:45,360 So the revenue growth workbook intensive, when you click on this link, we're going to 82 00:04:45,360 --> 00:04:46,360 give it to you for free. 83 00:04:46,360 --> 00:04:48,120 You're just going to download it. 84 00:04:48,120 --> 00:04:51,120 That's going to get you in there and you'll be able to use the workbook that I'm going 85 00:04:51,120 --> 00:04:55,240 to pull up on my screen and start walking you through and show you. 86 00:04:55,240 --> 00:05:00,180 You know, basically we're going to call this entity visionary entrepreneur. 87 00:05:00,180 --> 00:05:04,380 And you're going to see how many things we need to learn about somebody before we decide 88 00:05:04,380 --> 00:05:06,340 that this campaign is safe. 89 00:05:06,340 --> 00:05:09,540 This is a campaign that we are safe to run with and build out. 90 00:05:09,540 --> 00:05:11,000 And we may not get to the end of it. 91 00:05:11,000 --> 00:05:14,480 We're going to use this 45 minutes to show you, all right, for working with a brand new 92 00:05:14,480 --> 00:05:20,000 entity, what types of questions that we need to ask responsibly in order to help that entity 93 00:05:20,000 --> 00:05:21,000 succeed. 94 00:05:21,000 --> 00:05:23,440 So let's go right into the revenue growth workbook. 95 00:05:23,440 --> 00:05:28,320 Now I've hidden the first page, the organization page where we ask questions about the brand 96 00:05:28,320 --> 00:05:32,520 to get to know the brand, since we're not going to be, excuse me, let me go back over 97 00:05:32,520 --> 00:05:35,120 real quick and just make sure you all are seeing this. 98 00:05:35,120 --> 00:05:36,120 Okay, perfect. 99 00:05:36,120 --> 00:05:37,120 You are seeing it. 100 00:05:37,120 --> 00:05:39,800 We're going to skip the questions about what are your goals? 101 00:05:39,800 --> 00:05:42,280 What's your customer lifetime value? 102 00:05:42,280 --> 00:05:43,280 What service do you sell? 103 00:05:43,280 --> 00:05:44,280 How much does your service cost? 104 00:05:44,280 --> 00:05:45,480 How much investing in marketing? 105 00:05:45,480 --> 00:05:49,320 All those questions are super important on the front end too, because they dictate the 106 00:05:49,320 --> 00:05:53,520 type of scope of work we can put together for an entity we're working with. 107 00:05:53,520 --> 00:05:58,840 Let's also just breeze through the blueprint itself, right, because most of you know this 108 00:05:58,840 --> 00:05:59,840 blueprint. 109 00:05:59,840 --> 00:06:03,680 If you don't, don't feel left out, just pause this video and look and see what it is. 110 00:06:03,680 --> 00:06:07,880 But it's, there's an advertisement that you're attracting people's attention with to a landing 111 00:06:07,880 --> 00:06:12,360 page that should be even more attractive, that drives people to convert or opt into 112 00:06:12,360 --> 00:06:16,820 an offer where they then land on a thank you page where you honor them for having opted 113 00:06:16,820 --> 00:06:22,840 in and you should have an email series that nurtures people to consider buying from you. 114 00:06:22,840 --> 00:06:23,840 Right? 115 00:06:23,840 --> 00:06:27,600 Some people buy right away when the brand is like a Disney or Netflix, it's easy to 116 00:06:27,600 --> 00:06:29,280 see the value and it's really easy. 117 00:06:29,280 --> 00:06:31,280 Like there's low barrier to entry. 118 00:06:31,280 --> 00:06:35,880 In other instances, you may have a high ticket solution that you're trying to sell. 119 00:06:35,880 --> 00:06:40,160 And in that case, and by the way, Jaime, feel free to share this link with people too, the 120 00:06:40,160 --> 00:06:42,360 actual live workbook I'm going to be working on. 121 00:06:42,360 --> 00:06:44,320 You guys will have view access to it. 122 00:06:44,320 --> 00:06:48,760 So you can dive in there and look at it alongside us, but we're actually going to move over 123 00:06:48,760 --> 00:06:52,840 to a calculator that intimidated me big time the first time I saw it. 124 00:06:52,840 --> 00:06:57,040 And it was not as nice looking as it is now, but it was still, it was a spreadsheet and 125 00:06:57,040 --> 00:06:58,960 I didn't like spreadsheets back when I learned about this. 126 00:06:58,960 --> 00:07:01,400 I think I was like, I don't know, 25, 26. 127 00:07:01,400 --> 00:07:03,820 I built a pro forma on a spreadsheet with my stepdad. 128 00:07:03,820 --> 00:07:07,440 So I knew how performers worked and I knew how to use spreadsheets, but I still wasn't 129 00:07:07,440 --> 00:07:08,920 comfortable with them. 130 00:07:08,920 --> 00:07:12,380 And so the idea of using this really intimidated me. 131 00:07:12,380 --> 00:07:15,960 And I found that most entrepreneurs feel the same way. 132 00:07:15,960 --> 00:07:21,240 They don't want to admit it, but they don't know how to use the calculators and how to 133 00:07:21,240 --> 00:07:22,960 use the spreadsheets as well as they could. 134 00:07:22,960 --> 00:07:28,240 Now if you do, you'll just be patient as we go through this process, because you probably 135 00:07:28,240 --> 00:07:32,120 have a marketer working for you who's also intimidated by this, or you have somebody 136 00:07:32,120 --> 00:07:36,280 on your team who needs to understand how this value gets broken down. 137 00:07:36,280 --> 00:07:37,720 So let's start at the top. 138 00:07:37,720 --> 00:07:39,540 Where's this customer value? 139 00:07:39,540 --> 00:07:44,760 Now this customer value number, how you determine this, I have a separate spreadsheet for this 140 00:07:44,760 --> 00:07:47,120 too that I'm also going to be sharing. 141 00:07:47,120 --> 00:07:49,400 And let me, in fact, let me stop sharing real quick. 142 00:07:49,400 --> 00:07:52,640 We'll go back and I'll show you the other material that we're going to be walking through, 143 00:07:52,640 --> 00:07:55,080 because both of them are going to be super helpful for you. 144 00:07:55,080 --> 00:07:59,400 I'm just going to share entire screen this time in order to help make sure you can see 145 00:07:59,400 --> 00:08:00,400 all the assets. 146 00:08:00,400 --> 00:08:01,400 All right. 147 00:08:01,400 --> 00:08:06,440 So we're going to be looking at a report for ads as well and how we run advertising for 148 00:08:06,440 --> 00:08:12,640 our clients in order to make sure that the advertising is set up to win based on a maximum 149 00:08:12,640 --> 00:08:15,000 budget of $100. 150 00:08:15,000 --> 00:08:17,800 We do not need to spend more than $100 for testing. 151 00:08:17,800 --> 00:08:21,480 I don't know a lot of advertising companies that are able to pull that off because they're 152 00:08:21,480 --> 00:08:23,960 counting on a big retainer from you each month. 153 00:08:23,960 --> 00:08:29,440 So with that said, the entrepreneur visionary lifetime value one-on-one, we'll be going 154 00:08:29,440 --> 00:08:35,160 over how to set up what type of value you're going to get from your customers. 155 00:08:35,160 --> 00:08:38,800 Because again, too many entrepreneurs have never done this type of exercise where they've 156 00:08:38,800 --> 00:08:44,600 outlined what is the income from one experience with a client, what is the lifetime value 157 00:08:44,600 --> 00:08:49,280 of the income and how do you project your net profit so that you know that from the 158 00:08:49,280 --> 00:08:52,320 start you are winning in business. 159 00:08:52,320 --> 00:08:56,360 Too many providers don't have this information when they start advertising. 160 00:08:56,360 --> 00:09:00,160 The agency assumes that you should have this information. 161 00:09:00,160 --> 00:09:03,380 Technically speaking, they may be right, but at the end of the day, if you don't have this 162 00:09:03,380 --> 00:09:08,040 information and you're trying to win in business, you are likely to set yourself up for extreme 163 00:09:08,040 --> 00:09:10,780 failure and we don't want that for our businesses. 164 00:09:10,780 --> 00:09:12,920 So let's move right back over. 165 00:09:12,920 --> 00:09:14,800 Let's start here on this customer value again. 166 00:09:14,800 --> 00:09:20,240 We'll backtrack to that later, but the customer value, what we're going to do is we're going 167 00:09:20,240 --> 00:09:23,680 to look at this from that tough conversation standpoint. 168 00:09:23,680 --> 00:09:28,960 If you have a low customer value, you're going to have a very hard time winning in business 169 00:09:28,960 --> 00:09:34,440 unless you have fantastic distribution, are able to scale that product to the masses super 170 00:09:34,440 --> 00:09:38,520 fast, which requires quite the gamble and a big risk. 171 00:09:38,520 --> 00:09:44,000 This is also why we work with high ticket clients, whether that's a dentist or a roofer 172 00:09:44,000 --> 00:09:51,080 or in our case, mostly the visionary entrepreneurs we work with tend to be coaches and providers 173 00:09:51,080 --> 00:09:56,320 of consulting services because there's quite a large profit margin on those services. 174 00:09:56,320 --> 00:09:59,640 There's room for error and they're usually coaching or they're usually working with an 175 00:09:59,640 --> 00:10:03,000 entity that is gaining a financial return. 176 00:10:03,000 --> 00:10:07,780 And if they're gaining a financial return, then it's also easy to justify reinvesting 177 00:10:07,780 --> 00:10:08,780 in your business. 178 00:10:08,780 --> 00:10:10,780 If you can see the return on investment that you have. 179 00:10:10,780 --> 00:10:16,800 So that's why we choose those entities, but the calculations still work because it's math. 180 00:10:16,800 --> 00:10:19,640 It's really a matter of logistics. 181 00:10:19,640 --> 00:10:27,400 There's not really an emotion behind the reality that you're just processing a transaction 182 00:10:27,400 --> 00:10:28,920 with another human being. 183 00:10:28,920 --> 00:10:37,000 So customer value, we prefer to work on the, again, if you've got a client package of $6,000 184 00:10:37,000 --> 00:10:42,520 for coaching services, then your profit margin is most likely going to be somewhere between 185 00:10:42,520 --> 00:10:48,520 40% and 90%, depending on what type of coaching you're doing, how much time you're committed 186 00:10:48,520 --> 00:10:49,520 to that. 187 00:10:49,520 --> 00:10:54,600 And also what you determine your own hourly rate is divided by the amount of hours, that 188 00:10:54,600 --> 00:10:56,600 coaching package by the amount of hours you put in. 189 00:10:56,600 --> 00:10:59,080 We've also got operational costs associated. 190 00:10:59,080 --> 00:11:04,080 So we're not going to spend this entire episode talking about how to determine your true cost 191 00:11:04,080 --> 00:11:09,140 of goods sold, which we do with our clients, or how to understand how to increase your 192 00:11:09,140 --> 00:11:13,000 profit margins and also simultaneously increase the value that you provide. 193 00:11:13,000 --> 00:11:14,000 Those are different services. 194 00:11:14,000 --> 00:11:17,360 There are different things that we also work on with our clients to make sure that they're 195 00:11:17,360 --> 00:11:19,680 creating the lifestyle that they want. 196 00:11:19,680 --> 00:11:26,400 We're going to focus in on assuming that people watching this audience have a customer value 197 00:11:26,400 --> 00:11:29,360 defined so that we can start defining the calculator. 198 00:11:29,360 --> 00:11:34,800 Naturally, if your customer value is $60, then you're going to have to hit different 199 00:11:34,800 --> 00:11:39,040 metrics in order for your return on investment to be bigger. 200 00:11:39,040 --> 00:11:46,000 Whereas if you have an $18,000 customer value, which if you're in luxury real estate, then 201 00:11:46,000 --> 00:11:50,160 that's much more along the lines of accurate than knowing that you're going to get a $60 202 00:11:50,160 --> 00:11:53,120 paycheck for somebody who signs up for your software for one month. 203 00:11:53,120 --> 00:11:55,980 So again, there's a lot of variables that are going on here. 204 00:11:55,980 --> 00:12:00,800 If you have a business model and you want to provide in the comments, by the way, an 205 00:12:00,800 --> 00:12:04,320 insight into what your... 206 00:12:04,320 --> 00:12:06,960 In fact, I'm going to stop sharing one more time just to clean up the share. 207 00:12:06,960 --> 00:12:08,200 We're going to focus in on this document. 208 00:12:08,200 --> 00:12:11,320 Let me go back to present, share the screen. 209 00:12:11,320 --> 00:12:15,120 Let's go to the revenue growth workbook exclusively. 210 00:12:15,120 --> 00:12:16,120 There we go. 211 00:12:16,120 --> 00:12:17,840 Now I can come back and forth a little bit easier. 212 00:12:17,840 --> 00:12:22,880 Then feel free to drop in the comments what your lifetime value is or what type of business 213 00:12:22,880 --> 00:12:23,880 model you have. 214 00:12:23,880 --> 00:12:26,560 If you don't know what that is, then ask. 215 00:12:26,560 --> 00:12:28,760 This goes back to those tough conversations. 216 00:12:28,760 --> 00:12:33,800 If I'm talking way over your head as a business owner, if you want to become a wise steward 217 00:12:33,800 --> 00:12:39,000 and run your business in a responsible fashion, you got to start learning these terms. 218 00:12:39,000 --> 00:12:42,440 You got to work with somebody who understands this terminology and knows how to help guide 219 00:12:42,440 --> 00:12:44,040 you to this process. 220 00:12:44,040 --> 00:12:45,680 They're not condescending at you. 221 00:12:45,680 --> 00:12:47,980 We're trying to help you understand what you're doing. 222 00:12:47,980 --> 00:12:50,640 And if you understand what you're doing, you're going to move forward in your business a whole 223 00:12:50,640 --> 00:12:51,700 lot more confidence. 224 00:12:51,700 --> 00:12:54,480 So now let's look at the advertising. 225 00:12:54,480 --> 00:12:59,080 So we're pretending right now, let's go all the way to the bottom, that we've decided 226 00:12:59,080 --> 00:13:01,960 to spend $500 on a Facebook ad. 227 00:13:01,960 --> 00:13:03,720 That's a lot of money. 228 00:13:03,720 --> 00:13:07,240 It's better to pretend that we're spending it than spend it, in my opinion, especially 229 00:13:07,240 --> 00:13:08,320 in this case. 230 00:13:08,320 --> 00:13:11,840 In this case, this business owner lost $500. 231 00:13:11,840 --> 00:13:14,160 It says that you spent $500. 232 00:13:14,160 --> 00:13:17,540 You got zero customers based on what happened here. 233 00:13:17,540 --> 00:13:22,160 You did get 3,000 views, but you didn't close anybody yet, and so therefore you had zero 234 00:13:22,160 --> 00:13:23,160 return. 235 00:13:23,160 --> 00:13:24,960 Well, that means that you lost $500. 236 00:13:24,960 --> 00:13:31,240 What I see most business owners do in this case is they shut their Facebook ads down. 237 00:13:31,240 --> 00:13:32,960 And in many cases, they blame Facebook. 238 00:13:32,960 --> 00:13:35,840 And they say Facebook's the problem and that Facebook didn't work. 239 00:13:35,840 --> 00:13:42,260 And they have no idea just how close they got to winning because they're not mathematicians. 240 00:13:42,260 --> 00:13:43,260 And that's OK. 241 00:13:43,260 --> 00:13:46,400 We don't expect you to be a mathematician, but we do expect you to work with people who 242 00:13:46,400 --> 00:13:49,880 are and work with people who do like to figure these things out. 243 00:13:49,880 --> 00:13:55,920 Because if this one business owner, if this business owner just spent $40 more, but they 244 00:13:55,920 --> 00:13:59,360 would have realized that they had a profitable funnel. 245 00:13:59,360 --> 00:14:00,420 You see this? 246 00:14:00,420 --> 00:14:02,340 Now I spent $540. 247 00:14:02,340 --> 00:14:08,120 The key difference maker was I had to get enough lead conversions in in order to convert 248 00:14:08,120 --> 00:14:09,120 one customer. 249 00:14:09,120 --> 00:14:15,680 But now that I have, I've made a $2,000 return on a $540 spend. 250 00:14:15,680 --> 00:14:18,920 That's a 370% return on ad spend. 251 00:14:18,920 --> 00:14:23,560 Now again, in isolation, I see so many advertisers be like, well, that's it. 252 00:14:23,560 --> 00:14:27,120 Now you should scale in and just believe me from here and let's move forward. 253 00:14:27,120 --> 00:14:28,740 I don't like that approach. 254 00:14:28,740 --> 00:14:30,920 It's just not it's not cool to me. 255 00:14:30,920 --> 00:14:33,880 There's too much that the business owner needs to understand about the variables here. 256 00:14:33,880 --> 00:14:38,360 If I were to spend $700, watch what happens to the return on ad spend. 257 00:14:38,360 --> 00:14:41,680 It goes down and it goes down quite considerably. 258 00:14:41,680 --> 00:14:42,720 Why? 259 00:14:42,720 --> 00:14:47,720 Because I've spent more on ads, but I've still only maintained the one conversion because 260 00:14:47,720 --> 00:14:49,360 of the way the metrics work out. 261 00:14:49,360 --> 00:14:56,420 So I did not have a true 370% return on ad spend because I wasn't done spending money 262 00:14:56,420 --> 00:14:59,480 and I'm not satisfied with just one customer. 263 00:14:59,480 --> 00:15:04,480 I've got to figure out how do I get repeat customers and what's it going to cost me to 264 00:15:04,480 --> 00:15:05,720 get repeat customers? 265 00:15:05,720 --> 00:15:09,440 Well, let's just scale the ad spend, but do so in a safe way. 266 00:15:09,440 --> 00:15:13,960 None of you on the show right now are spending $7,000, right? 267 00:15:13,960 --> 00:15:17,200 But I am on this calculator, right? 268 00:15:17,200 --> 00:15:22,720 Theoretically, because the logic is going to play out the same on Facebook if I know 269 00:15:22,720 --> 00:15:24,280 what my metrics are. 270 00:15:24,280 --> 00:15:27,320 But that's also why it's so critical to know your metrics. 271 00:15:27,320 --> 00:15:28,320 But check this out. 272 00:15:28,320 --> 00:15:31,680 If we spend $7,000, in fact, let's bump it way up. 273 00:15:31,680 --> 00:15:33,800 Let's pretend we spend $70,000. 274 00:15:33,800 --> 00:15:38,840 The reason why I'm doing this is I know that my variables are starting to level out. 275 00:15:38,840 --> 00:15:41,800 They're starting to make sense across the board, right? 276 00:15:41,800 --> 00:15:43,600 So let's see here, $75,000. 277 00:15:43,600 --> 00:15:45,960 Just play with that for fun. 278 00:15:45,960 --> 00:15:49,640 You notice that the numbers are changing a little bit less each time. 279 00:15:49,640 --> 00:15:54,560 But I know that if I could spend $75,000 on ads, if these are the metrics that I hit, 280 00:15:54,560 --> 00:15:57,160 then this would be what my outcome is going to be. 281 00:15:57,160 --> 00:16:05,040 That would mean that every time I spend $75,000, I'm going to make a gross return of $288,000 282 00:16:05,040 --> 00:16:08,240 minus the ad spend of $75,000. 283 00:16:08,240 --> 00:16:15,040 Now my net return, again, excluding other cost of goods sold, is $213,000 minus the 284 00:16:15,040 --> 00:16:16,040 ad spend. 285 00:16:16,040 --> 00:16:18,120 But I also have to pay for my advertising team. 286 00:16:18,120 --> 00:16:20,000 I have to pay for the systems that I have in place. 287 00:16:20,000 --> 00:16:22,760 I have to pay for the materials that I give to my clients. 288 00:16:22,760 --> 00:16:25,320 There's still information to be accounted for. 289 00:16:25,320 --> 00:16:27,400 There's still costs to be accounted for. 290 00:16:27,400 --> 00:16:32,600 We're trying to simplify this for everybody to understand, though, that you do have more 291 00:16:32,600 --> 00:16:37,280 power and control over winning on advertising than you even realize. 292 00:16:37,280 --> 00:16:40,840 So let's talk about what that looks like and how that works. 293 00:16:40,840 --> 00:16:44,580 So customer value-wise, we're going to come back to that later. 294 00:16:44,580 --> 00:16:48,600 For now, we're going to talk about the cost per view. 295 00:16:48,600 --> 00:16:49,980 You've probably never been told this. 296 00:16:49,980 --> 00:16:54,800 You may have never heard this before in this capacity, but you have full control over the 297 00:16:54,800 --> 00:16:57,360 cost per view that Facebook gives you. 298 00:16:57,360 --> 00:16:58,700 How do you control this? 299 00:16:58,700 --> 00:17:02,720 You control this by the quality of your offer. 300 00:17:02,720 --> 00:17:07,980 If your offer lacks quality, Facebook will jack up the price of your cost per view because 301 00:17:07,980 --> 00:17:11,920 they cannot prevent you from running a terrible offer. 302 00:17:11,920 --> 00:17:17,240 So if you want to lose on Facebook ads, run the same campaign most people run, which is 303 00:17:17,240 --> 00:17:21,640 sign up for our newsletter or come look at our general website. 304 00:17:21,640 --> 00:17:24,900 If you do that, Facebook's going to slap their forehead. 305 00:17:24,900 --> 00:17:29,400 They're going to say, oh, I wish this guy would run something more valuable than that. 306 00:17:29,400 --> 00:17:32,520 But because you're not, and we know our users don't want to see this. 307 00:17:32,520 --> 00:17:36,400 We know that our users hate advertising that doesn't provide value. 308 00:17:36,400 --> 00:17:40,400 So we're going to jack this price up of the cost per view so that you will put yourself 309 00:17:40,400 --> 00:17:42,640 out of your misery and stop advertising. 310 00:17:42,640 --> 00:17:45,240 That's what they're trying to do. 311 00:17:45,240 --> 00:17:47,560 They're trying to tell you, stop, it's not working. 312 00:17:47,560 --> 00:17:52,200 On the flip side, what if you had an offer that was amazing? 313 00:17:52,200 --> 00:17:55,640 What if you had an offer that inspired people to want to come back to Facebook because they're 314 00:17:55,640 --> 00:17:57,800 like, man, this person wants to give away a free car. 315 00:17:57,800 --> 00:18:01,360 And I'm talking about a legitimate deal here where you're actually doing it. 316 00:18:01,360 --> 00:18:05,600 If you're actually doing that, Facebook's going to drop your cost to less than one cent 317 00:18:05,600 --> 00:18:07,880 because they're excited to promote that. 318 00:18:07,880 --> 00:18:10,920 They know that people will then associate that opportunity with Facebook and they're 319 00:18:10,920 --> 00:18:13,120 like, man, this ad is awesome. 320 00:18:13,120 --> 00:18:18,220 The algorithm is designed to catch and see, okay, which ads are being shared, which ones 321 00:18:18,220 --> 00:18:21,480 are being commented on, which ones are being liked or hated. 322 00:18:21,480 --> 00:18:26,720 If it's drawing people in and getting people to engage in the platform, Facebook rewards 323 00:18:26,720 --> 00:18:32,440 that advertising and wants to push it to the masses because it improves the user experience. 324 00:18:32,440 --> 00:18:33,440 Right? 325 00:18:33,440 --> 00:18:35,380 So let's talk about restaurants. 326 00:18:35,380 --> 00:18:37,360 How does a restaurant take advantage of that? 327 00:18:37,360 --> 00:18:38,480 A free dessert. 328 00:18:38,480 --> 00:18:43,360 Yes, you have costs associated with that free dessert, but watch what happens when we change 329 00:18:43,360 --> 00:18:46,020 from that $500 in ad spend. 330 00:18:46,020 --> 00:18:50,000 We use the same exact ad spend, but we change the cost for you to one cent because you've 331 00:18:50,000 --> 00:18:53,960 provided something of amazing value that people want. 332 00:18:53,960 --> 00:18:54,960 Oh. 333 00:18:54,960 --> 00:19:02,520 Oh, if I hit the holy grail of one percent cost per view, now I've got 50,000 people 334 00:19:02,520 --> 00:19:05,160 who've shared this, who want to see it, want to get involved. 335 00:19:05,160 --> 00:19:09,200 I've got all sorts of people who might move forward on this free dessert concept. 336 00:19:09,200 --> 00:19:10,200 Right? 337 00:19:10,200 --> 00:19:11,200 Here's what also happens. 338 00:19:11,200 --> 00:19:16,360 Not only did more people get to see it, but your click through rate is also going to go 339 00:19:16,360 --> 00:19:17,360 up. 340 00:19:17,360 --> 00:19:21,080 We didn't even account for that yet, but let's talk about this click through rate, this 1.5 341 00:19:21,080 --> 00:19:22,080 percent. 342 00:19:22,080 --> 00:19:25,320 We're targeting a local demographic around that restaurant. 343 00:19:25,320 --> 00:19:29,440 And I'm giving away a free dessert for everybody who comes through on this. 344 00:19:29,440 --> 00:19:31,600 I'm going to go ahead and I'm going to suck it up. 345 00:19:31,600 --> 00:19:35,200 I'm going to make that the cost because I know that my restaurant is so valuable and 346 00:19:35,200 --> 00:19:38,120 we've got such great food and great service that as people come in, they're going to come 347 00:19:38,120 --> 00:19:40,960 back and back and back and spend again. 348 00:19:40,960 --> 00:19:42,800 That's the goal for the restaurant. 349 00:19:42,800 --> 00:19:45,080 The restaurant gives that free dessert away. 350 00:19:45,080 --> 00:19:46,680 Here we have a click through rate of 1.5 percent. 351 00:19:46,680 --> 00:19:51,880 Now that means that only one percent of people who saw that ad actually clicked on and moved 352 00:19:51,880 --> 00:19:52,880 forward. 353 00:19:52,880 --> 00:19:53,880 No, no, no. 354 00:19:53,880 --> 00:19:57,360 We need to look at this and say click through rate. 355 00:19:57,360 --> 00:20:00,920 If I'm giving away a free dessert, we're probably going to get a click through rate of north 356 00:20:00,920 --> 00:20:03,040 of five percent to 10 percent. 357 00:20:03,040 --> 00:20:05,280 We might even get as high as 15 to 20 percent. 358 00:20:05,280 --> 00:20:09,440 The highest I've seen of a client is 16 percent on a click through rate. 359 00:20:09,440 --> 00:20:16,780 She's a coach in the binge eating space and the lady was just so magnetic that every time 360 00:20:16,780 --> 00:20:19,700 she talked on an ad, people clicked like crazy. 361 00:20:19,700 --> 00:20:22,400 Our targeting had a little bit to do with that, but it was mainly just she just had 362 00:20:22,400 --> 00:20:23,880 something magnetic about her. 363 00:20:23,880 --> 00:20:27,140 Let's move this up to a five percent click through rate. 364 00:20:27,140 --> 00:20:30,040 Watch what happens instead of making twenty five thousand on that. 365 00:20:30,040 --> 00:20:31,520 Again, we'll come back to customer value. 366 00:20:31,520 --> 00:20:35,240 We're going to talk about right after I change this because you're going to be like, what? 367 00:20:35,240 --> 00:20:37,200 How do we make two thousand dollars on a dessert? 368 00:20:37,200 --> 00:20:38,200 We didn't. 369 00:20:38,200 --> 00:20:39,440 That's not the point. 370 00:20:39,440 --> 00:20:40,440 Five percent. 371 00:20:40,440 --> 00:20:41,440 Bam. 372 00:20:41,440 --> 00:20:46,400 We upgrade that click through rate and now we've got far more people moving forward 373 00:20:46,400 --> 00:20:51,960 with a transaction and now we're talking about making ninety thousand dollars of gross return 374 00:20:51,960 --> 00:20:54,760 off of an ad spend of five hundred dollars. 375 00:20:54,760 --> 00:21:00,360 OK, let's also look at changing this customer value now because customer value depends. 376 00:21:00,360 --> 00:21:05,800 Are we talking about lifetime customer value or are we talking about immediate customer 377 00:21:05,800 --> 00:21:06,800 value? 378 00:21:06,800 --> 00:21:07,800 Right. 379 00:21:07,800 --> 00:21:11,560 You've got to decide when you're marketing and when you're advertising which metrics 380 00:21:11,560 --> 00:21:16,600 and which which variables, which wins, which victories are you going to base your growth 381 00:21:16,600 --> 00:21:17,600 on? 382 00:21:17,600 --> 00:21:18,600 Right. 383 00:21:18,600 --> 00:21:22,040 Those, again, are discussions that you should be having with the marketers and the advertisers 384 00:21:22,040 --> 00:21:23,560 that you're talking to. 385 00:21:23,560 --> 00:21:28,120 If you're not having those conversations, you're not likely to win or you're likely 386 00:21:28,120 --> 00:21:32,400 to create a campaign that's a fly by night campaign and set up and it kind of works one 387 00:21:32,400 --> 00:21:36,400 time or works here and there or burns out because you didn't take the time to understand 388 00:21:36,400 --> 00:21:38,760 how all this business model stuff comes together. 389 00:21:38,760 --> 00:21:42,480 So let's again digress back to customer value. 390 00:21:42,480 --> 00:21:45,480 Why did I put a customer value of two thousand dollars? 391 00:21:45,480 --> 00:21:46,800 One because it's simple. 392 00:21:46,800 --> 00:21:50,880 I'm trying to teach right now and I want to teach based on round numbers so you know what 393 00:21:50,880 --> 00:21:52,520 we're talking about. 394 00:21:52,520 --> 00:21:56,240 Now let's move over to let me go back to the streaming tab here where we host. 395 00:21:56,240 --> 00:22:00,800 By the way, thank you for having an awesome set of tools to be able to do this. 396 00:22:00,800 --> 00:22:07,760 We're going to now present to you how we come about deciding a lifetime value and also how 397 00:22:07,760 --> 00:22:10,860 we determine which value we're going to base our advertising on. 398 00:22:10,860 --> 00:22:13,640 So this particular workbook, feel free to ask us for it. 399 00:22:13,640 --> 00:22:15,880 It's something we provide to our clients. 400 00:22:15,880 --> 00:22:23,360 It's something that we've we've optimized to great links over the last few months actually. 401 00:22:23,360 --> 00:22:27,960 And it's something that provides tremendous clarity for those who don't really understand 402 00:22:27,960 --> 00:22:29,940 the business models behind what they're doing. 403 00:22:29,940 --> 00:22:32,680 So lifetime value one on one. 404 00:22:32,680 --> 00:22:34,480 We're going to look at a restaurant scenario first. 405 00:22:34,480 --> 00:22:35,480 All right. 406 00:22:35,480 --> 00:22:38,520 So we've generalized this pricing for the sake of simplicity. 407 00:22:38,520 --> 00:22:42,520 This is not a real restaurant, but it is based on full service restaurants. 408 00:22:42,520 --> 00:22:46,000 And there's a couple of definitions you're going to need to read over here perhaps to 409 00:22:46,000 --> 00:22:47,240 keep up with this conversation. 410 00:22:47,240 --> 00:22:48,640 I want to go a little bit faster, though. 411 00:22:48,640 --> 00:22:51,640 You can slow down by pausing if you need to. 412 00:22:51,640 --> 00:22:56,800 The data that we have to calculate this this forecast that we're going to show you of net 413 00:22:56,800 --> 00:23:02,680 profit projection of a restaurant owner making seven hundred thousand dollars in net profit 414 00:23:02,680 --> 00:23:06,160 for the year or six figures for your or losing money. 415 00:23:06,160 --> 00:23:10,560 Again, this is based on the net profit take home, not off the total loss and not off the 416 00:23:10,560 --> 00:23:12,400 total gain as an entity. 417 00:23:12,400 --> 00:23:15,280 But let's go back over and look at where we got some of this information. 418 00:23:15,280 --> 00:23:19,880 So the data comes from the National Restaurant Association, which projects that the average 419 00:23:19,880 --> 00:23:24,680 patron comes back to a restaurant two times per month for two years for a total of twenty 420 00:23:24,680 --> 00:23:25,800 four visits. 421 00:23:25,800 --> 00:23:32,560 So what you'd want to do is multiply how much is one visit worth by the amount of visits 422 00:23:32,560 --> 00:23:33,560 that occur. 423 00:23:33,560 --> 00:23:39,480 And in this case, we've actually built the simplified lifetime value based on the simplified 424 00:23:39,480 --> 00:23:42,400 net profit value for the restaurant owner. 425 00:23:42,400 --> 00:23:48,280 So in this case, if this restaurant patron comes in, buys appetizer, dinner, alcohol 426 00:23:48,280 --> 00:23:50,680 and dessert, they buy all those things. 427 00:23:50,680 --> 00:23:54,080 Their check price is going to be fifty four dollars. 428 00:23:54,080 --> 00:23:59,760 And the income is going to be based off of a in this case, we did a five percent profit 429 00:23:59,760 --> 00:24:04,280 margin because the average restaurant makes somewhere between three percent and ten percent 430 00:24:04,280 --> 00:24:08,640 profit margins for for the restaurant. 431 00:24:08,640 --> 00:24:13,560 So that means that the restaurant owner makes two dollars and seventy cents off of that 432 00:24:13,560 --> 00:24:17,440 one guest for that one visit. 433 00:24:17,440 --> 00:24:18,760 And then I can delete this too. 434 00:24:18,760 --> 00:24:20,440 I need to delete this. 435 00:24:20,440 --> 00:24:23,080 This doesn't factor into the calculations here. 436 00:24:23,080 --> 00:24:28,160 But then we multiply those visits by the amount of times we forecast them making that particular 437 00:24:28,160 --> 00:24:29,160 purchase. 438 00:24:29,160 --> 00:24:33,360 This again is a theory, but it breaks down to a thirty eight dollar and seventy cents 439 00:24:33,360 --> 00:24:38,760 lifetime value, net profit value for this restaurant owner, knowing how much is he going 440 00:24:38,760 --> 00:24:39,760 to make based on that? 441 00:24:39,760 --> 00:24:48,440 And this is again, this is also I don't want to say it's calculated based on a what's the 442 00:24:48,440 --> 00:24:54,960 word I'm looking for, a low projection, you know, a worst case scenario, because there 443 00:24:54,960 --> 00:24:58,480 are people who have much worse cases than this scenario. 444 00:24:58,480 --> 00:25:02,660 There's people who have their prices for their restaurant and far lower than they should. 445 00:25:02,660 --> 00:25:06,840 There's people who have it priced high, far higher, you know, and they're winning. 446 00:25:06,840 --> 00:25:07,840 Fantastic. 447 00:25:07,840 --> 00:25:11,280 So what you need to know, though, as an entrepreneur is your pricing is arbitrary. 448 00:25:11,280 --> 00:25:14,280 You can read as many books on pricing as you want to. 449 00:25:14,280 --> 00:25:18,000 And you will find that all the methods and the madness that exists there. 450 00:25:18,000 --> 00:25:23,160 Yes, they tie into formulas to some degree, but you don't learn how to ride the bike by 451 00:25:23,160 --> 00:25:25,680 learning the mechanics of how to create the bike. 452 00:25:25,680 --> 00:25:29,140 You learn how to ride the bike by getting on the bike and riding it and being willing 453 00:25:29,140 --> 00:25:30,180 to fall as you go. 454 00:25:30,180 --> 00:25:36,920 So while we know a lot about these concepts and how to justify or discuss and argue these 455 00:25:36,920 --> 00:25:42,040 concepts, we're missing the point if we're not focused on moving the the client that 456 00:25:42,040 --> 00:25:44,640 we're talking to forward on their own business model. 457 00:25:44,640 --> 00:25:48,380 So let's go and go to a core product or profit maximizer. 458 00:25:48,380 --> 00:25:51,440 In this case, we're going to say that it's a coaching client. 459 00:25:51,440 --> 00:25:56,520 And for their coaching, they want to do a and I'm making this up as we go, but a six 460 00:25:56,520 --> 00:25:58,280 weeks program. 461 00:25:58,280 --> 00:26:02,920 I prefer a 12 week program and value per transaction. 462 00:26:02,920 --> 00:26:08,680 Let's say that for that 12 week coaching program, they charge twelve thousand dollars. 463 00:26:08,680 --> 00:26:09,680 In fact, let's just cut it in half. 464 00:26:09,680 --> 00:26:10,680 Let's do six thousand dollars. 465 00:26:10,680 --> 00:26:13,200 We'll do a small projection on this one. 466 00:26:13,200 --> 00:26:15,560 And then their income and cost of goods sold. 467 00:26:15,560 --> 00:26:19,320 Since they're doing coaching, they don't really have a lot of hard costs associated with the 468 00:26:19,320 --> 00:26:20,320 model. 469 00:26:20,320 --> 00:26:24,080 So they're going to under project because if we under project, we can over deliver. 470 00:26:24,080 --> 00:26:28,680 So let's put a cost of goods sold of 70 percent on this. 471 00:26:28,680 --> 00:26:34,520 Therefore, for that one coaching client and the 12 week program, your net take home of 472 00:26:34,520 --> 00:26:41,320 forty two hundred dollars is is what we would then be building your your business on if 473 00:26:41,320 --> 00:26:46,760 we're talking about the immediate direct conversion impact of how much you're making. 474 00:26:46,760 --> 00:26:51,280 Now, if we want to figure out the lifetime value, we would forecast how many times is 475 00:26:51,280 --> 00:26:52,880 this person going to reinvest in us? 476 00:26:52,880 --> 00:26:55,800 Are we doing a program where they're only with us for 12 weeks and they're cured for 477 00:26:55,800 --> 00:26:59,200 life and they never need to talk to us again? 478 00:26:59,200 --> 00:27:06,400 Maybe they're getting coached on on fertility and they only plan on having one child. 479 00:27:06,400 --> 00:27:07,400 Right. 480 00:27:07,400 --> 00:27:11,840 In that case, that would be the lifetime value of that that situation. 481 00:27:11,840 --> 00:27:15,740 If there's other mothers who are going through a fertility program and they plan on having 482 00:27:15,740 --> 00:27:20,400 five or six children and they might go to the coaching program multiple times to continue 483 00:27:20,400 --> 00:27:25,720 to get assessed and help as their health continues to change as they age, then they might they 484 00:27:25,720 --> 00:27:27,400 might buy six times. 485 00:27:27,400 --> 00:27:30,560 It's not my job to determine the vision for my clients. 486 00:27:30,560 --> 00:27:35,080 It's my client's job to determine their vision for their relationship with their clients. 487 00:27:35,080 --> 00:27:39,440 And then this number ends up helping us project and understand, all right, what what type of 488 00:27:39,440 --> 00:27:44,320 the foundation we're laying, what's the value of the foundation that we're laying up front? 489 00:27:44,320 --> 00:27:46,360 So if this person is, hey, you know what? 490 00:27:46,360 --> 00:27:49,560 We're going to coach them over the course of 10 years, but we're only going to coach 491 00:27:49,560 --> 00:27:52,480 them one quarter every 10 years. 492 00:27:52,480 --> 00:27:59,880 Then now we've projected the simplified lifetime value of this particular product or service. 493 00:27:59,880 --> 00:28:04,040 We have not stacked it to showcase all the other things that they might buy along the 494 00:28:04,040 --> 00:28:08,020 way or they might upgrade to given that we add other services. 495 00:28:08,020 --> 00:28:12,900 But for now, we're going to take the daily value as we call it in restaurants, the one 496 00:28:12,900 --> 00:28:15,800 visit transaction value, we're going to take the one transaction value. 497 00:28:15,800 --> 00:28:19,840 We're going to come over here to the net profit projection and we're going to look at, OK, 498 00:28:19,840 --> 00:28:26,400 this person who has a six thousand dollar high ticket offer with a cogs of forty two 499 00:28:26,400 --> 00:28:27,400 hundred rather. 500 00:28:27,400 --> 00:28:28,400 I'm sorry. 501 00:28:28,400 --> 00:28:31,360 Their income minus the cogs of forty two hundred. 502 00:28:31,360 --> 00:28:35,500 We're going to take that net profit and we're going to calculate it based on the visits. 503 00:28:35,500 --> 00:28:37,880 So stay with me here, left side to right side. 504 00:28:37,880 --> 00:28:41,240 OK, on the left side, this is the restaurant side of things. 505 00:28:41,240 --> 00:28:43,760 What have we calculated over here? 506 00:28:43,760 --> 00:28:49,120 We calculated a daily customer value that changes based on the scenarios. 507 00:28:49,120 --> 00:28:50,560 Why do we do that? 508 00:28:50,560 --> 00:28:53,760 Because there's variables that are fairly predictable. 509 00:28:53,760 --> 00:28:57,920 If we're working with a worst case scenario, well, these people, they don't tend to calculate 510 00:28:57,920 --> 00:28:59,240 their lifetime value very well. 511 00:28:59,240 --> 00:29:00,240 They're not mathematicians. 512 00:29:00,240 --> 00:29:02,560 They wouldn't be in this problem to begin with. 513 00:29:02,560 --> 00:29:03,560 Right. 514 00:29:03,560 --> 00:29:04,680 They underestimate their taxes. 515 00:29:04,680 --> 00:29:07,080 They don't factor in wage changes. 516 00:29:07,080 --> 00:29:10,880 They have employees who are quiet quitting and they have plates breaking, late orders, 517 00:29:10,880 --> 00:29:13,560 food sent back, spoilage, late shipments, fees. 518 00:29:13,560 --> 00:29:17,840 They tend to do worse when they're not as well prepared for operating a business. 519 00:29:17,840 --> 00:29:25,520 So we went ahead and we added in a projection that is less than ideal. 520 00:29:25,520 --> 00:29:29,280 And on this side, I'm going to go ahead and remove that variable, assuming that you decide 521 00:29:29,280 --> 00:29:32,640 in your worst case scenario to at least get your business model ironed out so you don't 522 00:29:32,640 --> 00:29:35,880 have so many misfires and mishaps benchmark case. 523 00:29:35,880 --> 00:29:36,880 All right. 524 00:29:36,880 --> 00:29:40,860 So this would be 30 customers coming into that restaurant and buying food per day. 525 00:29:40,860 --> 00:29:41,860 That would be awful. 526 00:29:41,860 --> 00:29:45,040 That would be like having a restaurant that's empty almost the entire day. 527 00:29:45,040 --> 00:29:46,880 And yeah, you'd naturally lose money. 528 00:29:46,880 --> 00:29:50,240 We also predicted that on the business days, this is something that I see so many business 529 00:29:50,240 --> 00:29:51,960 owners remain ignorant to. 530 00:29:51,960 --> 00:29:55,600 And I'm like, how do you project your financial future if you're not factoring in how many 531 00:29:55,600 --> 00:29:57,680 business days you have to work per year? 532 00:29:57,680 --> 00:30:03,640 They're building based on a 365 day calendar, yet they've only got 260 working days to move 533 00:30:03,640 --> 00:30:04,640 forward. 534 00:30:04,640 --> 00:30:07,960 And that's including some holidays that most people don't want to take off. 535 00:30:07,960 --> 00:30:12,840 But in the case of the worst case, a lot of those types of individuals, maybe they aren't 536 00:30:12,840 --> 00:30:13,840 working as hard. 537 00:30:13,840 --> 00:30:14,840 Let's just say they are. 538 00:30:14,840 --> 00:30:17,120 Let's say they do work every single one of those days. 539 00:30:17,120 --> 00:30:22,580 Well, they're losing more money because they're not aware of their operational costs. 540 00:30:22,580 --> 00:30:25,500 And the cool thing is you can come in here, you can adjust these calculators for different 541 00:30:25,500 --> 00:30:28,800 levels of losses or wins or level them out. 542 00:30:28,800 --> 00:30:34,400 So you're looking at your daily customers based on the exact same variable. 543 00:30:34,400 --> 00:30:35,400 Right. 544 00:30:35,400 --> 00:30:38,920 And it's really important to factor, now, if I'm over your head, I apologize. 545 00:30:38,920 --> 00:30:41,560 We'll need to take more time one-on-one to go over this and we can. 546 00:30:41,560 --> 00:30:42,560 Right. 547 00:30:42,560 --> 00:30:43,560 But let's shift gears. 548 00:30:43,560 --> 00:30:45,240 So this is the restaurant side. 549 00:30:45,240 --> 00:30:50,360 On the coaching side, you're not trying to sign 30 new coaching clients, 30 high ticket 550 00:30:50,360 --> 00:30:53,240 clients per day, I don't think. 551 00:30:53,240 --> 00:30:56,340 And in most cases, that would be a super victory. 552 00:30:56,340 --> 00:30:58,880 So Tony Robbins level victories. 553 00:30:58,880 --> 00:31:04,160 On the daily customer side, you're probably signing one person every 10 days. 554 00:31:04,160 --> 00:31:06,920 In the worst case scenario, maybe less. 555 00:31:06,920 --> 00:31:12,380 And if that's the case and you're on point with your profit margin, well, you know what? 556 00:31:12,380 --> 00:31:17,680 Even if you only work 220 days per year and you sign somebody at that rate, look at that. 557 00:31:17,680 --> 00:31:20,240 You're sitting at 92,000 on your net profit margin. 558 00:31:20,240 --> 00:31:22,320 That's not a bad scenario to be in. 559 00:31:22,320 --> 00:31:26,200 But is that your actual net profit margin? 560 00:31:26,200 --> 00:31:27,200 I don't know. 561 00:31:27,200 --> 00:31:31,300 Or are you actually signing somebody up every 10 days or is it taking you longer to sign 562 00:31:31,300 --> 00:31:32,300 your accounts? 563 00:31:32,300 --> 00:31:37,960 Again, that's why it's so helpful to recognize that when you project these values upfront, 564 00:31:37,960 --> 00:31:41,200 you have somebody who walks you through it and helps you see that, okay, if you're in 565 00:31:41,200 --> 00:31:44,600 the best case scenario where you're charging a little bit more and you can provide a little 566 00:31:44,600 --> 00:31:49,840 bit more value, check out the difference of if you are signing almost one client per day 567 00:31:49,840 --> 00:31:51,440 and a little bit, let's lower it. 568 00:31:51,440 --> 00:31:54,200 I'm just going to lower it right to the value you want to charge. 569 00:31:54,200 --> 00:31:55,200 Right. 570 00:31:55,200 --> 00:31:56,200 That $6,000. 571 00:31:56,200 --> 00:32:01,040 Then if you were to charge $6,000 every time on nearly somebody signing up every single 572 00:32:01,040 --> 00:32:07,080 day and you were to only work 240 days out of the year, you'd still make $800,000 at 573 00:32:07,080 --> 00:32:08,080 the end of the year. 574 00:32:08,080 --> 00:32:09,080 That's a fantastic return. 575 00:32:09,080 --> 00:32:10,080 Right. 576 00:32:10,080 --> 00:32:14,520 So this, again, these numbers help us make sure that when we're forecasting back to the 577 00:32:14,520 --> 00:32:18,360 other revenue growth workbook, that we're forecasting based on a number that makes sense 578 00:32:18,360 --> 00:32:20,440 for your business. 579 00:32:20,440 --> 00:32:25,740 And too many businesses don't take the time to verify these numbers with their providers. 580 00:32:25,740 --> 00:32:30,040 The providers know it's far safer, far more likely to move a transaction forward if you 581 00:32:30,040 --> 00:32:34,480 don't complicate it than if you try to teach all this stuff to a business owner. 582 00:32:34,480 --> 00:32:37,500 The problem is the business owner, again, makes decisions that aren't on the business 583 00:32:37,500 --> 00:32:44,900 owner's best interest is the word I'm looking for. 584 00:32:44,900 --> 00:32:50,160 So this, again, this is a very, very small introduction into a very difficult topic, 585 00:32:50,160 --> 00:32:54,420 but one that business owners should be planning around and preparing for. 586 00:32:54,420 --> 00:32:59,420 And it's not something that you present as a business plan to a bank just to forget later 587 00:32:59,420 --> 00:33:00,760 or not use. 588 00:33:00,760 --> 00:33:04,560 It's something that you should be utilizing with the teams that you work with, the agencies 589 00:33:04,560 --> 00:33:06,460 or the consultants that you work with. 590 00:33:06,460 --> 00:33:07,680 They need to understand this stuff. 591 00:33:07,680 --> 00:33:11,780 And if they don't understand this stuff, then how are they going to guide you strategically 592 00:33:11,780 --> 00:33:13,560 on moving your business forward? 593 00:33:13,560 --> 00:33:15,720 So let me go back to StreamYard again. 594 00:33:15,720 --> 00:33:16,720 Let's see. 595 00:33:16,720 --> 00:33:18,040 Chris Burns is in here. 596 00:33:18,040 --> 00:33:22,780 He says, and he's amazing by the way, he says, sharing the best practices and strategy. 597 00:33:22,780 --> 00:33:23,780 Keep up the great work. 598 00:33:23,780 --> 00:33:24,780 Dude, you're awesome, Christopher. 599 00:33:24,780 --> 00:33:25,780 I'm glad to have you. 600 00:33:25,780 --> 00:33:28,960 And I look forward to hosting you on the show soon enough because you do throw down a ton 601 00:33:28,960 --> 00:33:29,960 of value. 602 00:33:29,960 --> 00:33:34,100 Again, if there's any questions that come up from the audience about what we're talking 603 00:33:34,100 --> 00:33:39,040 about, if you want me to slow down on any particulars with this workbook, then don't 604 00:33:39,040 --> 00:33:40,760 hesitate to ask guys. 605 00:33:40,760 --> 00:33:44,840 You're not being a great coach and being a great business owner by pretending you know 606 00:33:44,840 --> 00:33:45,840 how to do everything. 607 00:33:45,840 --> 00:33:49,360 In fact, that's often holding you back. 608 00:33:49,360 --> 00:33:50,360 So let's go ahead. 609 00:33:50,360 --> 00:33:51,360 I'm going to stop sharing the screen. 610 00:33:51,360 --> 00:33:55,680 I'm going to go back to the revenue growth workbook and I'm going to keep diving in a 611 00:33:55,680 --> 00:33:59,200 little bit deeper, a little bit deeper, a little bit deeper on what that looks like. 612 00:33:59,200 --> 00:34:02,260 So here we go back to that calculator. 613 00:34:02,260 --> 00:34:07,520 So back to customer value again, if we know the customer value we're projecting on, then 614 00:34:07,520 --> 00:34:12,120 that gives us the peace of mind that we can build the strategy and the campaign based 615 00:34:12,120 --> 00:34:13,640 on that particular number. 616 00:34:13,640 --> 00:34:17,120 And this matters when it comes to learning how much scale do we want. 617 00:34:17,120 --> 00:34:19,680 So the $2,000 customer value. 618 00:34:19,680 --> 00:34:21,700 Well, we just learned that it's not 2000. 619 00:34:21,700 --> 00:34:26,480 We just learned that on a $6,000 package, it's actually a $4,200 value. 620 00:34:26,480 --> 00:34:28,080 So why does that matter? 621 00:34:28,080 --> 00:34:32,520 Well, you know, it would make you more confident to invest in us as an agency, right? 622 00:34:32,520 --> 00:34:34,320 Or as a consulting firm. 623 00:34:34,320 --> 00:34:37,760 But the reality is when we're working with clients at the highest levels, I remember 624 00:34:37,760 --> 00:34:42,600 when we were at Video Power working with LaserWay and they wanted to be able to scale, we got 625 00:34:42,600 --> 00:34:46,420 to a point where we could not scale their campaigns and we couldn't scale their campaigns 626 00:34:46,420 --> 00:34:51,720 because we were undervaluing the value of their customers and we were already spending 627 00:34:51,720 --> 00:34:55,760 the maximum amount we could spend on both Facebook and YouTube. 628 00:34:55,760 --> 00:35:02,360 So when I walked Todd through how to understand the lifetime value, he knew what that was. 629 00:35:02,360 --> 00:35:06,520 He knew his lifetime value of his customers, but what he wasn't able to assess was what 630 00:35:06,520 --> 00:35:11,320 was the value of the direct conversions that came from Facebook and YouTube ads. 631 00:35:11,320 --> 00:35:16,160 And we had to do some research to figure out the indirect value, the indirect conversions 632 00:35:16,160 --> 00:35:17,160 and how those worked. 633 00:35:17,160 --> 00:35:20,480 And as we did, well, what I can tell you is this. 634 00:35:20,480 --> 00:35:27,600 He went from eight locations by understanding his indirect value and lowering his expectations 635 00:35:27,600 --> 00:35:29,700 on the direct conversion rates. 636 00:35:29,700 --> 00:35:33,920 We were able to expand the budget and he went from two locations, I'm sorry, eight locations 637 00:35:33,920 --> 00:35:37,520 to two years later to more than 40 locations across the nation. 638 00:35:37,520 --> 00:35:41,560 I don't know what all changes he made in order to make that happen, but I do know that our 639 00:35:41,560 --> 00:35:44,920 campaigns were, they were being shut off. 640 00:35:44,920 --> 00:35:49,560 They were being, we weren't able to scale them because they didn't understand the full 641 00:35:49,560 --> 00:35:53,720 value of what was being received by their investment. 642 00:35:53,720 --> 00:35:58,840 And if you're addicted to attribution models and you don't fully understand them and you 643 00:35:58,840 --> 00:36:02,440 think you do, that's one of the most dangerous positions you can be in in life is where you 644 00:36:02,440 --> 00:36:04,100 think you know it all. 645 00:36:04,100 --> 00:36:09,120 When you think you know it all, you kind of shut your ears to what could exist in the 646 00:36:09,120 --> 00:36:10,680 market to benefit you. 647 00:36:10,680 --> 00:36:14,640 So let's take a look at some of what I'm talking about. 648 00:36:14,640 --> 00:36:19,240 So some of the other variables you're seeing here, this return, this astronomical return, 649 00:36:19,240 --> 00:36:25,480 I'm going to move it back a little bit, but I invest $500 here and I make 89,000 in net 650 00:36:25,480 --> 00:36:26,480 return here. 651 00:36:26,480 --> 00:36:31,000 Yeah, like who in their right mind wouldn't reinvest in this scenario? 652 00:36:31,000 --> 00:36:33,320 Well, I see it happen. 653 00:36:33,320 --> 00:36:34,320 I do. 654 00:36:34,320 --> 00:36:36,120 I see it happen far too often. 655 00:36:36,120 --> 00:36:41,240 And what ends up happening is one month one, this type of situation plays out. 656 00:36:41,240 --> 00:36:42,640 And then let's talk about the restaurant, right? 657 00:36:42,640 --> 00:36:48,200 So the restaurant gives away a free dessert and they don't have proper tracking in place. 658 00:36:48,200 --> 00:36:52,920 So on the restaurant level, they can't actually see that these people, these 45 customers 659 00:36:52,920 --> 00:36:54,920 all came in from that Facebook ad. 660 00:36:54,920 --> 00:36:56,720 They didn't ask people about it. 661 00:36:56,720 --> 00:36:58,640 They didn't track it on their end. 662 00:36:58,640 --> 00:37:00,040 They don't trust your judgment. 663 00:37:00,040 --> 00:37:03,480 But what happens is they do see an influx in business and they kind of correlate it 664 00:37:03,480 --> 00:37:05,920 with something else that might've happened. 665 00:37:05,920 --> 00:37:09,440 And then they have all sorts of marketers who become attracted to it. 666 00:37:09,440 --> 00:37:10,440 Why? 667 00:37:10,440 --> 00:37:12,600 Because over a thousand people see their brand. 668 00:37:12,600 --> 00:37:16,440 And so what happens, I'm going to stop sharing my screen now and come back to you guys, is 669 00:37:16,440 --> 00:37:21,880 the business owner gets contacted by all sorts of marketers that exist out there. 670 00:37:21,880 --> 00:37:25,120 And the marketers call in and say, hey, you know, your landing page sucks. 671 00:37:25,120 --> 00:37:26,840 I mean, they should have made that better. 672 00:37:26,840 --> 00:37:30,320 Or, hey, you know, we want to help you get found on Google because you're not showing 673 00:37:30,320 --> 00:37:32,040 up on Google anywhere. 674 00:37:32,040 --> 00:37:34,400 You attract all sorts of attention. 675 00:37:34,400 --> 00:37:36,640 So the business owner says, you know what? 676 00:37:36,640 --> 00:37:37,640 You're right. 677 00:37:37,640 --> 00:37:38,640 I should be found on Google. 678 00:37:38,640 --> 00:37:39,640 Why am I company not? 679 00:37:39,640 --> 00:37:43,000 Because you're going to end up eliminating the marketer who drove the business to begin 680 00:37:43,000 --> 00:37:49,040 with and hiring new entity who really just came in as a wolf in sheep skin to distract 681 00:37:49,040 --> 00:37:52,240 you because they have something they want to sell you. 682 00:37:52,240 --> 00:37:53,240 Right. 683 00:37:53,240 --> 00:37:56,760 And when, when, when you start selling hammers, everything looks like a nail. 684 00:37:56,760 --> 00:38:02,440 But as you start to increase your value and you start to pre-qualify as a business who 685 00:38:02,440 --> 00:38:06,480 has money and who is worth investing in, well, you're going to have all sorts of entities 686 00:38:06,480 --> 00:38:08,720 that come towards you and want to work with you. 687 00:38:08,720 --> 00:38:10,440 And they're going to say everything that they can. 688 00:38:10,440 --> 00:38:11,440 But guess what? 689 00:38:11,440 --> 00:38:15,840 As you get more sophisticated as a business owner and you start to make more money, the 690 00:38:15,840 --> 00:38:19,840 challenge of recognizing the good providers versus the great providers versus the scams, 691 00:38:19,840 --> 00:38:22,240 it gets harder and not easier. 692 00:38:22,240 --> 00:38:26,960 It becomes much harder to evaluate who is actually on your side and who's not because 693 00:38:26,960 --> 00:38:28,400 they get more sophisticated. 694 00:38:28,400 --> 00:38:33,800 You don't, Tony Robbins and his team, they don't fall for the same cons that the, that 695 00:38:33,800 --> 00:38:36,000 the businesses do who actually receive those. 696 00:38:36,000 --> 00:38:37,360 Like, you know, I don't know if you get the calls. 697 00:38:37,360 --> 00:38:38,360 I get them all the time. 698 00:38:38,360 --> 00:38:41,160 I'm like, hey, we want to help you improve your Google listing click. 699 00:38:41,160 --> 00:38:43,200 Like, you know, I don't have time for those calls. 700 00:38:43,200 --> 00:38:45,800 You know, those calls are not effective. 701 00:38:45,800 --> 00:38:50,160 They are scam artists most of the time trying to help you with that Google listing, extended 702 00:38:50,160 --> 00:38:51,160 car warranties, right? 703 00:38:51,160 --> 00:38:52,360 You would think nobody falls for that. 704 00:38:52,360 --> 00:38:54,720 Well, if nobody fell for it, then they wouldn't do it. 705 00:38:54,720 --> 00:38:59,640 But again, as you level up, there's a higher level of sophisticated scam that comes your 706 00:38:59,640 --> 00:39:05,680 way and you can't always recognize who the great providers are and who the providers 707 00:39:05,680 --> 00:39:10,320 are that are full of crap, to be honest with you. 708 00:39:10,320 --> 00:39:14,280 And there's unfortunately, there's a lot of them and they know how to protect themselves 709 00:39:14,280 --> 00:39:18,280 and they don't have a system to, we don't have a system as marketers. 710 00:39:18,280 --> 00:39:20,280 We don't have one to evaluate. 711 00:39:20,280 --> 00:39:22,480 Are we teaching the right principles or are we not? 712 00:39:22,480 --> 00:39:23,880 You can't report us to a bar. 713 00:39:23,880 --> 00:39:27,500 Like, you know, like the legal, you can report a lawyer to a bar. 714 00:39:27,500 --> 00:39:30,520 You can report a doctor for malpractice. 715 00:39:30,520 --> 00:39:32,000 You can sue them. 716 00:39:32,000 --> 00:39:36,680 But in marketing, unfortunately, there's not a standard out there that people can say what 717 00:39:36,680 --> 00:39:37,680 they want. 718 00:39:37,680 --> 00:39:41,400 And the FCC will rarely come after people unless you're making millions and millions 719 00:39:41,400 --> 00:39:43,200 and millions of dollars. 720 00:39:43,200 --> 00:39:49,000 And so you have to figure out like, all right, well, how do I then assess if somebody is 721 00:39:49,000 --> 00:39:54,920 ethical and building with my long term interests in mind, it can be a very, very challenging 722 00:39:54,920 --> 00:39:55,920 process. 723 00:39:55,920 --> 00:39:57,840 I don't have a one size fits all answer. 724 00:39:57,840 --> 00:39:59,280 There's not an easy answer on that. 725 00:39:59,280 --> 00:40:03,200 You have to learn how to evaluate marketing itself. 726 00:40:03,200 --> 00:40:07,320 And so I'm going to give you again, as much as I can in this 45 minute period to help 727 00:40:07,320 --> 00:40:08,320 you do that. 728 00:40:08,320 --> 00:40:11,320 But ultimately, you should not be firing your advertising team. 729 00:40:11,320 --> 00:40:16,160 You should be finding an advertising team that's addicted to the scientific method. 730 00:40:16,160 --> 00:40:19,400 And that's really what it comes down to because it's a matter of variables. 731 00:40:19,400 --> 00:40:26,560 Let's say I did want to help a company so that they they can win, not based on a two 732 00:40:26,560 --> 00:40:29,800 thousand dollar customer value, but let's say that you need something more practical. 733 00:40:29,800 --> 00:40:33,200 You've got a software that you're trying to sell and that software you're going to generate 734 00:40:33,200 --> 00:40:34,440 forty dollars a month. 735 00:40:34,440 --> 00:40:37,360 Well, I would I would hope that you would have enough confidence in your software to 736 00:40:37,360 --> 00:40:40,880 know that people will at least stay for three months time. 737 00:40:40,880 --> 00:40:41,880 Right. 738 00:40:41,880 --> 00:40:43,880 And if they will stay for three months time on a twenty dollar value. 739 00:40:43,880 --> 00:40:44,880 Well, let me lower that. 740 00:40:44,880 --> 00:40:46,760 It's going to be a sixty dollar value. 741 00:40:46,760 --> 00:40:54,000 So if we're basing our advertising budget off of needing to make sixty dollars off of 742 00:40:54,000 --> 00:40:59,560 off of the money that is spent, then we need to make sure that our campaign has an irresistible 743 00:40:59,560 --> 00:41:04,760 offer enough to attract people to convert within a 90 day period, perhaps or within 744 00:41:04,760 --> 00:41:06,080 a 30 day period. 745 00:41:06,080 --> 00:41:11,520 Again, all all of the timeline factors and the assets and the metrics, they all they 746 00:41:11,520 --> 00:41:12,880 all have to be factored in. 747 00:41:12,880 --> 00:41:16,040 And if you're a new business and you don't have these benchmarks, well, I hate to break 748 00:41:16,040 --> 00:41:18,360 it to you, but you're always going to be shooting in the dark. 749 00:41:18,360 --> 00:41:20,980 You have to be willing to shoot in the dark in those cases. 750 00:41:20,980 --> 00:41:26,040 And so you have to work with an entity that can respect a budget that is that is much, 751 00:41:26,040 --> 00:41:29,680 much lower than than what we've talked about today. 752 00:41:29,680 --> 00:41:31,280 We talked about that hundred dollar maximum budget. 753 00:41:31,280 --> 00:41:33,240 I'm going to show you what we do in just a minute. 754 00:41:33,240 --> 00:41:34,360 I'll finish on that. 755 00:41:34,360 --> 00:41:36,480 But here's what we're building towards. 756 00:41:36,480 --> 00:41:37,480 We want to get a customer. 757 00:41:37,480 --> 00:41:40,480 We want to get a cost per view of around one cent. 758 00:41:40,480 --> 00:41:43,080 And even in this case, you know, you're not profitable. 759 00:41:43,080 --> 00:41:44,800 Oh, you're barely profitable. 760 00:41:44,800 --> 00:41:45,800 Actually you were. 761 00:41:45,800 --> 00:41:47,320 That's that's amazing. 762 00:41:47,320 --> 00:41:48,680 So how are we profitable? 763 00:41:48,680 --> 00:41:50,160 We don't know if these numbers are true. 764 00:41:50,160 --> 00:41:53,440 So maybe they click through to your landing page at a one point five percent rate. 765 00:41:53,440 --> 00:41:57,040 But maybe your landing page is so awful that it doesn't work on mobile. 766 00:41:57,040 --> 00:42:00,400 And so you only get a five percent lead conversion rate. 767 00:42:00,400 --> 00:42:03,800 And let's say your sales skills are so terrible, you only get a three percent conversion rate 768 00:42:03,800 --> 00:42:06,400 here and now you've only got one new customer. 769 00:42:06,400 --> 00:42:07,400 Right. 770 00:42:07,400 --> 00:42:10,840 Well, you can fire the advertising team, but the advertising team is not wrong. 771 00:42:10,840 --> 00:42:12,320 The advertising team did the right thing. 772 00:42:12,320 --> 00:42:15,080 They got you that irresistible offer. 773 00:42:15,080 --> 00:42:18,720 What you need to improve is the landing page and your sales skills. 774 00:42:18,720 --> 00:42:22,520 Because if you improve those things and you say, OK, well, I'll spend another five hundred 775 00:42:22,520 --> 00:42:25,800 dollars on this, but I'm not just going to count on the money. 776 00:42:25,800 --> 00:42:29,440 I'm going to make sure that I learn how to ask better questions throughout my cell. 777 00:42:29,440 --> 00:42:35,340 And maybe I double the effectiveness of my cells of my sales calls and my lead conversion 778 00:42:35,340 --> 00:42:36,340 rate. 779 00:42:36,340 --> 00:42:37,340 Let's fix that mobile page. 780 00:42:37,340 --> 00:42:41,080 And if we fix the mobile page, maybe you move it from a five percent to a 10 percent success 781 00:42:41,080 --> 00:42:42,080 rate. 782 00:42:42,080 --> 00:42:48,080 And now out of those 750 website visitors, 38 no, 75 are converting. 783 00:42:48,080 --> 00:42:49,080 Right. 784 00:42:49,080 --> 00:42:53,040 And this is increasing the amount of people who move forward with you because you're increasing 785 00:42:53,040 --> 00:42:55,440 your value, your click through rate. 786 00:42:55,440 --> 00:43:01,940 Maybe you go from saying download free download to download now. 787 00:43:01,940 --> 00:43:04,320 That's proven over the years to actually perform a little bit better. 788 00:43:04,320 --> 00:43:07,760 And so you go from one point five percent to a two percent click through rate. 789 00:43:07,760 --> 00:43:10,120 And that affects your bottom of your funnel. 790 00:43:10,120 --> 00:43:11,120 Right. 791 00:43:11,120 --> 00:43:13,520 So now you are getting closer to winning. 792 00:43:13,520 --> 00:43:18,200 You've got to stay dedicated to the process of optimizing, not constantly creating super 793 00:43:18,200 --> 00:43:23,800 cheap low cost systems only to then turn around and eliminate them and start fresh again or 794 00:43:23,800 --> 00:43:26,120 to start with some other mechanism. 795 00:43:26,120 --> 00:43:30,000 That's only going to give you a bunch of boxes in your garage or a bunch of cars in your 796 00:43:30,000 --> 00:43:36,400 garage that are half built and parked and never finished when you really need to dedicate 797 00:43:36,400 --> 00:43:40,840 yourself to the process of optimizing what it is that that you're putting out into the 798 00:43:40,840 --> 00:43:41,840 world. 799 00:43:41,840 --> 00:43:46,000 So coming back, I said I was going to share one more resource. 800 00:43:46,000 --> 00:43:47,000 I'll do just that. 801 00:43:47,000 --> 00:43:52,200 I'll show you how we ran the advertising campaigns for AbleHealth to end this call. 802 00:43:52,200 --> 00:43:58,240 And so with AbleHealth, what we do is we create campaigns called gold coin campaigns. 803 00:43:58,240 --> 00:44:00,600 We call them power campaigns. 804 00:44:00,600 --> 00:44:03,520 Either way, they're based on a scientific method. 805 00:44:03,520 --> 00:44:07,880 We want to test one variable and one variable only against one audience. 806 00:44:07,880 --> 00:44:08,880 Right. 807 00:44:08,880 --> 00:44:11,520 So we pick the audience by doing a lot of research and development with you on the front 808 00:44:11,520 --> 00:44:12,520 end. 809 00:44:12,520 --> 00:44:14,920 And we create these statements that draw attention. 810 00:44:14,920 --> 00:44:17,680 And some of them, the red ones didn't win. 811 00:44:17,680 --> 00:44:19,440 The yellow ones were silver coins. 812 00:44:19,440 --> 00:44:20,680 They do win. 813 00:44:20,680 --> 00:44:23,880 But the green ones are the one we focus on because they won very big. 814 00:44:23,880 --> 00:44:27,360 You'll notice here again, pause the screen to go through this and you're on your own 815 00:44:27,360 --> 00:44:28,360 time. 816 00:44:28,360 --> 00:44:31,160 But the amount spent on this one campaign was six dollars. 817 00:44:31,160 --> 00:44:33,060 Same thing on this one, five ninety nine. 818 00:44:33,060 --> 00:44:37,000 And we were able to reach four hundred people, which was able to give us enough data to know 819 00:44:37,000 --> 00:44:39,840 are people clicking on this information. 820 00:44:39,840 --> 00:44:42,240 We then do the same thing with a series of headlines. 821 00:44:42,240 --> 00:44:44,880 And again, we had several headlines at one. 822 00:44:44,880 --> 00:44:47,820 Now we took one of those headlines and we turn that headline. 823 00:44:47,820 --> 00:44:51,200 Don't get any fertility treatments until you read this into a series of images. 824 00:44:51,200 --> 00:44:53,220 And we ran the same test again. 825 00:44:53,220 --> 00:44:55,740 Always look at the cost of the test. 826 00:44:55,740 --> 00:44:58,520 We're spending four dollars and forty eight cents here. 827 00:44:58,520 --> 00:45:04,060 And this image that won, you know, got a click cost per click of fifty six cents. 828 00:45:04,060 --> 00:45:06,720 These are all ads that we can scale. 829 00:45:06,720 --> 00:45:11,120 And as long as they're getting a cost per click at this level, then we don't mind putting 830 00:45:11,120 --> 00:45:12,120 those ads out there. 831 00:45:12,120 --> 00:45:14,600 Then we wanted to test that against a video. 832 00:45:14,600 --> 00:45:15,880 Same thing in this video. 833 00:45:15,880 --> 00:45:17,360 Got a 50 cent cost per click. 834 00:45:17,360 --> 00:45:19,080 So it's the most powerful of the assets. 835 00:45:19,080 --> 00:45:22,040 But now we've got a series of assets that we can scale out. 836 00:45:22,040 --> 00:45:28,480 And we know that this is the as long as we're getting a cost of per click at this level, 837 00:45:28,480 --> 00:45:30,740 then we've got a very, very good campaign. 838 00:45:30,740 --> 00:45:32,160 It's a great way to test the assets. 839 00:45:32,160 --> 00:45:35,120 Now, every single one of these assets can also be utilized. 840 00:45:35,120 --> 00:45:37,880 I'll stop sharing my screen now. 841 00:45:37,880 --> 00:45:41,560 They can also be utilized in the email nurturing sequence. 842 00:45:41,560 --> 00:45:43,380 You can utilize those in posts. 843 00:45:43,380 --> 00:45:45,400 You can go live about that topic. 844 00:45:45,400 --> 00:45:50,620 You can create podcasts about that topic, all knowing that it was the target audience 845 00:45:50,620 --> 00:45:55,040 that resonated with that message so much so that a lot of people started to click in the 846 00:45:55,040 --> 00:45:56,040 process. 847 00:45:56,040 --> 00:46:02,320 I just I don't see enough businesses taking the time to plan strategically before they 848 00:46:02,320 --> 00:46:03,320 launch. 849 00:46:03,320 --> 00:46:06,280 So I would encourage you to take a 90 minute strategy call or even a 20 minute strategy 850 00:46:06,280 --> 00:46:11,840 call, sign up with somebody and then assume that everything's going to be off to the races 851 00:46:11,840 --> 00:46:14,280 and we're going to win no matter what. 852 00:46:14,280 --> 00:46:18,520 And it breaks my heart that so many people launch that way and think that that's what's 853 00:46:18,520 --> 00:46:25,420 going to drive the value for their business, that they're going to somehow create the perfect 854 00:46:25,420 --> 00:46:26,420 solution and win. 855 00:46:26,420 --> 00:46:30,680 And yeah, there are some people who do win with that concept. 856 00:46:30,680 --> 00:46:36,120 There's enough that win by doing it that way that it gives everybody else hope that they'll 857 00:46:36,120 --> 00:46:38,440 also win that lottery. 858 00:46:38,440 --> 00:46:42,840 But hope should lead to a series of faith based actions, right? 859 00:46:42,840 --> 00:46:47,480 It should lead to a belief and a process that you then commit yourself to. 860 00:46:47,480 --> 00:46:52,400 And you exercise the discipline necessary to be able to build out the campaign the way 861 00:46:52,400 --> 00:46:57,960 that that you should build it out with an entity that you trust to help you ask the 862 00:46:57,960 --> 00:47:02,360 hard questions that you don't know the answers to in order to protect your brand on winning 863 00:47:02,360 --> 00:47:03,360 big. 864 00:47:03,360 --> 00:47:07,040 And if you do that, you can create phenomenal growth for your company. 865 00:47:07,040 --> 00:47:14,060 You can create campaigns where you're seeing multi thousand percent returns on those campaigns. 866 00:47:14,060 --> 00:47:18,800 But it takes somebody who's dedicated to the process to see that Dr. Eric Berg is a phenomenal 867 00:47:18,800 --> 00:47:20,440 example of that. 868 00:47:20,440 --> 00:47:25,040 You can go and see how he's grown from 106,000 subscribers and a brand that was struggling 869 00:47:25,040 --> 00:47:29,680 to convert with the landing page to hearing some very tough conversation feedback from 870 00:47:29,680 --> 00:47:31,360 myself and our team of guy. 871 00:47:31,360 --> 00:47:35,320 Dude, you can't you can't launch this and expect people to want to purchase from that 872 00:47:35,320 --> 00:47:36,320 page. 873 00:47:36,320 --> 00:47:37,320 You're going to have to fix your branding. 874 00:47:37,320 --> 00:47:38,720 And he did fix his branding. 875 00:47:38,720 --> 00:47:42,000 He put a lot of money and effort into building that brand at the time. 876 00:47:42,000 --> 00:47:46,800 And now he's at like 10 million subscribers on YouTube and continuing to scale up. 877 00:47:46,800 --> 00:47:51,640 The exception to the rule shouldn't be the victors, in my opinion. 878 00:47:51,640 --> 00:47:57,040 I think the majority should move towards victory, but the majority we have we have to learn 879 00:47:57,040 --> 00:48:01,200 to be inspired to dedicate ourselves to the principles of learning and growth that will 880 00:48:01,200 --> 00:48:05,800 lead to us understanding what we need to understand to scale our business models effectively and 881 00:48:05,800 --> 00:48:06,800 appropriately. 882 00:48:06,800 --> 00:48:10,080 So I hope this was super helpful for everybody that was watching on. 883 00:48:10,080 --> 00:48:16,120 If it leads you to asking more sincere questions about your own growth plans, then I've ultimately 884 00:48:16,120 --> 00:48:18,900 provided the value I wanted to provide today. 885 00:48:18,900 --> 00:48:23,240 If you want to dive into the revenue growth intensive revenue growth workbook intensive 886 00:48:23,240 --> 00:48:27,120 for free, we've got that link shared in the comments as well. 887 00:48:27,120 --> 00:48:31,840 My hope with that, too, is not to undervalue the actual resource, but to inspire you to 888 00:48:31,840 --> 00:48:36,040 say, you know what, there's a lot of value that's been put into this process for years. 889 00:48:36,040 --> 00:48:40,200 I should go through it and I should see what first class business is willing to provide 890 00:48:40,200 --> 00:48:45,560 to me in order to assess are they the type of entity that we would want to work with 891 00:48:45,560 --> 00:48:46,560 for our growth. 892 00:48:46,560 --> 00:48:47,560 And our doors are open to you. 893 00:48:47,560 --> 00:48:50,240 We're happy to discuss what that could look like. 894 00:48:50,240 --> 00:48:55,480 We invite you to connect with us on LinkedIn, Facebook, anywhere, wherever your preferred 895 00:48:55,480 --> 00:48:57,480 method of connection is. 896 00:48:57,480 --> 00:49:01,440 Let's start a dialogue about how to help you move your brand forward, because at the end 897 00:49:01,440 --> 00:49:05,480 of the day, I'm not winning if you're not winning, but we are winning big. 898 00:49:05,480 --> 00:49:09,080 If you are winning big, you have a vision to fulfill and we want to see you fulfill 899 00:49:09,080 --> 00:49:11,120 it at the highest scales possible. 900 00:49:11,120 --> 00:49:16,160 In order to do that, you got to know where to put your money, where to put your time 901 00:49:16,160 --> 00:49:17,640 in order to scale that. 902 00:49:17,640 --> 00:49:21,520 And I think you're far closer to being able to scale than you even realize. 903 00:49:21,520 --> 00:49:26,120 You just need to dive into that conversation and start asking those questions and getting 904 00:49:26,120 --> 00:49:31,080 the candid answers back so you can let go a little bit and say, you know what, perhaps 905 00:49:31,080 --> 00:49:33,600 I am more prepared than I thought I was. 906 00:49:33,600 --> 00:49:38,040 Or perhaps that coach who's holding me hostage, you know, they're not necessarily treating 907 00:49:38,040 --> 00:49:39,040 you that way. 908 00:49:39,040 --> 00:49:42,520 But if they're saying, you know, oh, you don't need another coach, well, they're wrong. 909 00:49:42,520 --> 00:49:43,960 Everybody needs a lot of coaches in life. 910 00:49:43,960 --> 00:49:48,000 Or if you have a team and you think, well, I've already got a team, do you have the right 911 00:49:48,000 --> 00:49:49,000 team or the wrong team? 912 00:49:49,000 --> 00:49:52,340 You know, do you have a team that's set up and maybe able to help you in the future once 913 00:49:52,340 --> 00:49:55,080 you figure these other fundamental aspects out? 914 00:49:55,080 --> 00:49:56,080 Probably. 915 00:49:56,080 --> 00:49:59,040 You know, but are they going to help you figure out these fundamental things out? 916 00:49:59,040 --> 00:50:03,360 Because if they haven't already, they probably aren't very well equipped to answer all those 917 00:50:03,360 --> 00:50:04,360 questions. 918 00:50:04,360 --> 00:50:10,480 And I just did, again, it hurts my heart to see business owners who are so close to launching 919 00:50:10,480 --> 00:50:14,680 phenomenal visions, but they're held back by their support group or the environment 920 00:50:14,680 --> 00:50:18,560 they're stuck in when, you know, there's there's an answer right in front of them. 921 00:50:18,560 --> 00:50:24,440 And we could help them scale and grow to tremendous capacity while improving the quality of service 922 00:50:24,440 --> 00:50:28,200 that you provide and also making room for all of those who do want to help you with 923 00:50:28,200 --> 00:50:29,200 growth. 924 00:50:29,200 --> 00:50:32,880 But maybe you're a little bit scared to let you go or let you grow. 925 00:50:32,880 --> 00:50:34,440 Let's not keep you stuck there, guys. 926 00:50:34,440 --> 00:50:35,440 Continue to ramp up your visions. 927 00:50:35,440 --> 00:50:36,440 Thank you for your time. 928 00:50:36,440 --> 00:50:38,600 Thanks for joining us on Vision Pros Live. 929 00:50:38,600 --> 00:50:40,360 And we will see you on the next episode. 930 00:50:40,360 --> 00:50:41,360 Have a fantastic night, everybody. 931 00:50:41,360 --> 00:50:42,360 Bye bye. 932 00:50:42,360 --> 00:50:43,360 Thank you for being here today. 933 00:50:43,360 --> 00:50:44,360 I'm really happy that you tuned in to Vision Pros Live. 934 00:50:44,360 --> 00:50:45,360 I'm looking forward to seeing your reactions as these episodes continue to move forward. 935 00:50:45,360 --> 00:50:46,360 We optimize them as the months go by. 936 00:50:46,360 --> 00:50:47,360 This is going to get more and more fun. 937 00:50:47,360 --> 00:50:48,360 We'll have more and more engagement as well. 938 00:50:48,360 --> 00:50:49,360 We'll invite people to participate in the show. 939 00:50:49,360 --> 00:51:18,480 And thank you for giving us your time and attention.