All right, so welcome to this deep dive.
And today we're going practical, really practical strategies for online businesses.
I like it.
And we're going to base this deep dive off an article called Internet Business Models,
the review that changes everything.
Okay.
And the cool thing about this article is that it's told from the perspective of an entrepreneur
who starts out struggling and they eventually stumble upon this guide called Internet Business
Models on Digistore 24.
Okay.
And this guide is like it completely changes their business.
So they were in the trenches and they found something that helped them get out.
Exactly.
I mean, that's always more compelling to hear about.
Right.
Over sure.
When you hear strategies that actually work for somebody who's been where you are,
Yeah.
It just makes it feel more real.
More attainable.
Yeah.
It's like having a mentor who's already been through it.
Exactly.
And knows the pitfalls.
Yeah.
So this entrepreneur, their first attempt at launching a digital course, total flop.
But that failure led them to this game-changing guide.
Okay.
Which led to a whole new way of thinking about product launches.
So failure can be a good thing sometimes.
Right.
I mean, that's often the case in business.
Yeah.
When things don't work out the way we planned.
Right.
We're forced to look for different solutions.
Yeah.
And this is a perfect example.
Exactly.
This entrepreneur discovered the power of pre-launch marketing.
And that seems so obvious now that you say it, but it's like why didn't I think of that?
Yeah. It's overlooked a lot.
So instead of just announcing a product out of the blue, they realized you need to generate
excitement.
You need to generate buzz.
Absolutely.
Way before that launch date.
Way before, yeah.
And build that anticipation.
Yeah.
I mean, anticipation is huge at the powerful psychological tool.
Think about like how excited you get before a movie premiere.
Yeah.
Or a concert you've been looking forward to.
Right.
That anticipation makes the actual experience even better.
That is so true.
Yeah.
You get invested in the idea before you even have it.
Yeah.
So how did this entrepreneur actually put this into practice?
So they started planning their launch months in advance.
OK.
Really engaging with their audience, giving sneak peeks behind the scenes of the development process.
OK.
A great example is they did this Instagram countdown campaign.
Ooh.
I love that.
Yeah.
So every day leading up to the launch.
OK.
They would post updates on their stories.
OK.
Teasing different features, answering questions.
And they were really building a community around their product before they even launched it.
So smart.
And the daily updates.
Yeah.
It keeps it top of mind.
Top of mind, exactly.
It gives people a reason to keep coming back.
Yep.
And it worked.
OK.
When they launched, they were flooded with pre-orders.
Oh, wow.
Yeah.
It was a complete 180 from their first launch.
That's incredible.
Yeah.
OK.
So pre-launch marketing, huge, huge.
But even with a great product and a killer pre-launch strategy.
Yeah.
You still got to reach the right people.
Absolutely.
And that's where advertising comes in.
That's right.
And this entrepreneur really struggled with this initially.
Yeah.
They were doing the classic spaghetti at the wall approach.
What's that?
That's where you just throw everything out there and see what sticks.
It's so common.
Yeah.
But it's so costly.
It's like throwing money down the drain.
Literally.
Yeah.
And it's ineffective.
So what did they do to turn their advertising around?
So the guide that they found really
helped them understand this concept called audience segmentation.
OK.
And that's instead of trying to reach everyone
with just like a really generic message,
they learn to identify their ideal customer
and tailor their ads just for them.
It makes sense when you put it that way.
Like you're not going to market hiking boots
to someone who climbs Mount Everest the same way
you market them to me.
Exactly.
Different needs.
Different desires.
You have to speak directly to your target audience.
So this entrepreneur decided to target a niche audience
of digital marketers.
OK.
So they shifted from these broad generic ads
to laser focused ads that address the specific pain points
that digital marketers face.
So they were saying like, hey, I understand your struggles
and I have a solution.
That's that.
That's got to be way more effective.
Way more effective.
Than just a generic sales pitch.
Absolutely.
And the results showed it.
OK.
Their cost per click went down.
OK.
Conversion rates went up.
That's amazing.
Proof that understanding your audience
can make your advertising dollars go so much further.
So much further.
Yeah.
But let's move on to the nitty gritty of actually running
an online business.
Right.
Managing logistics, fulfilling orders.
The fun stuff.
This entrepreneur faced a whole new set of challenges
when it came to e-commerce and drop shipping.
Yeah.
The world of supply chains and logistics
can be a real pain point for online businesses.
Especially those relying on drop shipping.
Yeah.
It sounds like they were selling phone accessories
and they had unreliable suppliers.
Constant shipping delays.
Not good.
Customer complaints galore.
Yeah.
That's not a good recipe for success.
A lot of people don't think about that side of things.
They focus so much on marketing and sales.
Right.
But you've got to have a smooth fulfillment process.
It's essential.
So what were some of the key lessons that they learned?
OK.
So the biggest one.
Vet your suppliers.
OK.
You can't just go with the cheapest option.
Got it.
You've got to do your due diligence.
Makes sense.
Check their track record.
Make sure they're reliable.
So it's almost like choosing a business partner.
It is.
You wouldn't just partner with anybody.
Exactly.
You've got to make sure you trust them.
Yep.
That you have the same values.
And that they can deliver.
OK.
So what else did they learn?
So they also learned about the importance
of aligning their product choices with their passions.
You see, this entrepreneur, they ended up pivoting away
from those phone accessories.
OK.
And toward something that they were much more passionate about.
OK.
Sustainable living products.
So they brought their heart into their business.
They did.
Did this have a positive impact?
Oh, yeah.
It was a game changer.
OK.
They found much more reliable suppliers.
OK.
Their customers were happier.
Mm-hmm.
And they themselves felt much more fulfilled
by what they were selling.
I love that.
Yeah.
A win, win, win.
It's a great reminder that success isn't just about profits.
It's also about finding a business model that
aligns with your values.
Absolutely.
That brings you a sense of purpose.
For sure.
But let's be real.
Sometimes you need to make those big sales
to really feel like your business is thriving.
Yeah.
So how did this entrepreneur tackle
the challenge of selling high ticket products and services?
Yeah.
Selling high ticket items, it's a different ball game.
OK.
It requires a different mindset, a different approach.
This entrepreneur, they initially
struggled to sell their premium courses and coaching
programs.
They had a hard time convincing people
to make that big investment.
Yeah.
I could see how that would be tough.
Yeah.
You're not just selling a product,
you're selling a transformation.
Yeah.
An investment in someone's future.
Exactly.
Yeah.
So this guy that they found offered some valuable insight
into how to crack the code of high ticket sales.
OK.
And it really emphasized two key principles.
OK.
Creating a strong value proposition
and cultivating a sense of exclusivity.
OK.
So let's unpack this a little bit.
Right.
So what does it mean to create a strong value proposition
when you're selling something high ticket?
So it goes beyond just listing features and benefits.
You need to clearly articulate the tangible outcomes
that someone will achieve by investing in your product
or service.
OK.
How will it change their life?
OK.
How will it change their business?
OK.
How will it help them reach their goals?
So it's not just about what they're getting.
It's about how their life's going to change.
Exactly.
Because of what they're getting.
The transformation.
Yeah.
So what about exclusivity?
Yeah.
How do you make a high ticket item feel exclusive?
Well, you want to create a sense of scarcity
and desirability.
Make people feel like they're part of something special
that not everyone has access to.
OK.
So this could be like limited spots in a program.
Got it.
Or a bonus that's only offered to the first few buyers.
Or access to a private community.
OK.
I can see how that would elevate the perceived value.
Exactly.
Make people want to jump on board.
Yeah.
So how did this entrepreneur put these principles
into practice?
So they decided to host a free webinar
to showcase their high ticket coaching program.
OK.
But this wasn't your typical webinar.
Filled with just like fluff and sales pitches.
OK.
They packed it with valuable insights, real world success
stories, actionable tips that people
get implement right away.
So they were giving away real value.
Real value.
Up front.
Establishing credibility.
That's smart.
It was.
And they use the interactive format of the webinar
to connect with potential customers.
OK.
Answer their questions.
Build relationships.
So it sounds like they really nailed the combination
of value and exclusivity.
Yeah.
Did it pay off?
It did.
The webinar generated a surge in interest.
OK.
And sales for their coaching program.
That's incredible.
Yeah.
People saw the value.
They felt the exclusivity.
And they were ready to invest.
So inspiring.
Yeah.
It shows that even high ticket sales can be successful.
They can.
When you have the right strategy in place.
Absolutely.
I am curious though.
Yeah.
How did they handle the transition from this free webinar
to their paid coaching program?
Yeah.
Did people feel like they were being tricked or pressured?
Yeah.
That's a great question.
Yeah.
The transition from a free offer to a paid one.
It can be tricky.
Yeah.
But this entrepreneur handled it masterfully.
Let me tell you about it.
So instead of doing like a hard sell at the end of the webinar.
OK.
They focused on building those connections.
OK.
Providing even more value.
They invited people to schedule a free consultation call.
Oh, OK.
So they could talk about their individual needs and goals.
So it was less about like pushing the sale.
Right.
And more about building that relationship.
Yeah.
Getting to know the person.
Yeah.
And understanding their challenges.
Exactly.
OK.
And then during those consultations.
Yeah.
That's where they could really personalize
their recommendations.
OK.
Demonstrate how their coaching program
could address the specific needs.
So smart.
Yeah.
They turned what could have been a point of friction.
Right.
Like, oh, I just went to this free webinar
and now they're trying to sell me something.
Yeah.
They turned it into an opportunity to deepen the relationship.
Yeah.
And provide a tailored solution.
I love that.
Yeah.
So it's not about tricking anyone or pressuring them.
No, no, no.
Yeah.
It's about creating a win-win where both sides benefit.
I feel like we are uncovering a treasure map here.
We are.
We're trying.
So online business success.
So many good nuggets.
But before we get too carried away.
OK.
Let's take a step back.
OK.
And just recap.
What have we learned?
OK.
So one overarching theme is the importance of being proactive.
OK.
This entrepreneur's initial struggles.
Yeah.
stem from a lack of planning.
Right.
Lack of intention.
Right.
Like with those sporadic product launches
that untargeted advertising.
Exactly.
They were just winging it.
Yeah.
Hoping for the best.
Hoping things would magically work out.
Yeah.
And once they started planning ahead,
defining their target audience, crafting those messages,
things changed.
It's like they went from wandering in the dark
to navigating with a map encompass.
Exactly.
I love that analogy.
It makes a big difference.
Yeah.
It really highlights the difference between just
hoping to succeed and setting yourself up for success
through strategic planning.
Yes.
So another key takeaway.
Understanding your ideal customer.
Huge.
I mean, they were able to improve their advertising
so much by focusing on that niche of digital marketers.
Right.
They took the time to really understand them.
Yeah.
Their pain points, their desires.
Yeah.
What kind of messaging would resonate?
So it's not about trying to appeal to everyone.
It's about narrowing your focus.
Yeah.
Becoming an expert in serving a specific group of people.
Find your tribe.
The more you understand your ideal customer,
the better you can serve them.
Yeah.
Taylor, your marketing, your messaging.
Every.
Even your products.
Everything.
What else stood out to you from this entrepreneur story?
So their experience with e-commerce and drop shipping
really highlights the need for a solid fulfillment process.
Right.
They learned that not all suppliers are created equal.
Yeah.
Those shipping delays and unreliable suppliers
sounded like a nightmare.
It was a mess.
Yeah.
So when you're choosing a supplier,
don't just focus on price.
OK.
Vet them.
Check their track record.
Yeah.
Make sure their values align with yours.
It's like choosing a business partner all over again.
It is.
Yeah.
And I think this entrepreneur's decision
to pivot to sustainable living products
speaks volumes about aligning your business with your passions.
Yes.
Not only did it solve their supplier problems,
but it also gave them a sense of purpose.
It seems like their whole business transformed.
It did.
When they stopped chasing trends
and started focusing on what they cared about.
Absolutely.
But let's talk about that webinar strategy.
Right.
They managed to take this high ticket item, this coaching
program, and make it so appealing through a free webinar.
Yeah.
What can we learn from that?
So it comes down to demonstrating expertise.
OK.
By providing real value upfront.
Yeah.
And then creating that sense of exclusivity.
So they didn't just pitch their program.
Right.
They shared valuable insights, success stories,
actionable tips.
So they positioned themselves as a trusted advisor.
Yes.
Rather than a pushy salesperson.
Exactly.
And the exclusivity factor, how did they do that?
So they followed up the webinar.
OK.
With those personalized consultations.
Yeah.
Creating that sense of scarcity.
Right.
Personalized attention.
So people felt seen and heard.
Exactly.
That makes them want to work with you even more.
It does.
They nailed it.
They did.
The psychology of high ticket sales.
Yeah.
They built trust.
They demonstrated value.
Made people feel special.
It's a winning formula.
It is.
They created this win-win scenario.
Yeah.
Where they could showcase their expertise.
Yep.
Build relationships.
Attract clients who were ready to invest.
Exactly.
You know what's even more fascinating?
What's that?
Is what they did after someone signed up
for their coaching program.
OK.
Tell me more.
They went above and beyond to create this really
transformative journey for their clients.
OK.
So it wasn't just like here are some pre-recorded modules.
Good luck.
Right.
They actually fostered a sense of community.
OK.
And provided personalized support.
So it was more hands-on.
Much more hands-on.
Yeah.
More interactive.
Yeah.
They created this private online forum.
OK.
Where clients could connect with each other.
Oh, cool.
Share their progress.
Support one another.
So they had like a built-in support system.
Exactly.
They also did regular group coaching calls.
OK.
To provide personalized feedback and answer
questions in real time.
So they were really invested in their client's success.
They were.
It's awesome.
It sounds like they created this really vibrant community.
Yeah.
Of learning and support.
It was.
And it really amplified the program's impact.
I bet.
Yeah.
Because people felt accountable.
They felt supported.
They had this sense of belonging.
You know, it's not just about having a great product or service.
No, it's not.
It's about creating this whole experience.
The whole package.
That really nurtures and empowers your client.
Absolutely.
You got to shift from that transactional mindset.
OK.
To a more relational one.
I like that.
Yeah.
Building those genuine connections.
Yeah.
Understanding individual needs.
Providing that ongoing support.
Those are the things that make a difference.
That's what makes a difference long term.
I feel like we've been on this incredible journey.
We have.
And I've got a whole new playbook for my online business.
I'm glad to hear that.
What are some of the most mind blowing takeaways for you?
Well, we saw how powerful pre-launch marketing can be.
Yeah.
To generate excitement and build anticipation.
It's such a simple concept, but so effective.
It is.
And we talked about the importance of targeted advertising.
Yes.
Making sure you're reaching the right people.
Right.
The right message.
And we can't forget about that fulfillment process.
Oh yeah.
Crucial for happy customers.
Absolutely.
And how about aligning your business with your passions?
That was a big one.
A game changer for this entrepreneur.
And creating that supportive experience for your clients.
So important.
You want to set them up for success.
Yes.
They did.
All right.
So as we wrap up this deep dive.
OK.
I want to leave our listeners with a final thought.
I love a good thought provoking question.
So if you had to choose just one strategy.
OK.
That we discussed today.
Mm-hmm.
To implement in your own business or project.
OK.
Which one would you choose?
Oh.
That's a tough one.
And why?
I think it depends on your goals.
OK.
Where do you see the biggest opportunity for growth?
Yeah.
Is it refining your pre-launch strategy?
OK.
Is it diving deeper into audience segmentation?
OK.
Maybe it's creating a more supportive community
for your clients.
So many good options.
So many options.
No right or wrong answer.
Exactly.
It's about finding what works for you.
And taking action.
Yeah.
Don't be afraid to get creative.
I love that.
Maybe you can adapt one of these strategies
in a way that's totally unique to your business.
Yeah.
Make it your own.
The possibilities are endless.
They are.
Well, this has been an amazing conversation.
I've enjoyed it.
Thank you for joining me on this deep dive.
It's been a pleasure.
And until next time.
Yeah.
Keep learning.
Keep growing.
And keep diving deep.
Dive deep.