WEBVTT 1 00:00:00.000 --> 00:00:05.320 $2.4 million in additional profit in five days. 2 00:00:05.320 --> 00:00:07.080 That's what one email campaign that we did 3 00:00:07.080 --> 00:00:09.400 in one of our portfolio companies generate. 4 00:00:09.400 --> 00:00:11.000 And if you don't know who I am, my name's Oxymozzi. 5 00:00:11.000 --> 00:00:11.880 OwnEquals is not common. 6 00:00:11.880 --> 00:00:14.640 It's a portfolio of companies that is over $250 million a year. 7 00:00:14.640 --> 00:00:16.320 And I make these videos so that, hopefully, 8 00:00:16.320 --> 00:00:18.080 you can grow your business and make lots of money. 9 00:00:18.080 --> 00:00:19.840 And then maybe someday I can invest in your business 10 00:00:19.840 --> 00:00:20.840 and help a grow too. 11 00:00:20.840 --> 00:00:22.480 I want to walk you through step by step 12 00:00:22.480 --> 00:00:24.600 exactly what we did in this email campaign 13 00:00:24.600 --> 00:00:26.840 so that you can use the same thing in your business 14 00:00:26.840 --> 00:00:29.520 to get, ideally, even better results. 15 00:00:29.560 --> 00:00:31.520 So let me walk you through the context of this business. 16 00:00:31.520 --> 00:00:33.080 Number one is it's a business that relies 17 00:00:33.080 --> 00:00:34.240 predominantly on paid ads. 18 00:00:34.240 --> 00:00:35.720 It's a consumer-based business, 19 00:00:35.720 --> 00:00:38.360 so lots of media to generate lots of volume 20 00:00:38.360 --> 00:00:39.760 of transactions and leads. 21 00:00:39.760 --> 00:00:42.400 So we had a very large email list. 22 00:00:42.400 --> 00:00:44.760 And for the most part, we weren't doing much 23 00:00:44.760 --> 00:00:46.680 with that email list besides following up 24 00:00:46.680 --> 00:00:47.960 for the initial transaction. 25 00:00:47.960 --> 00:00:49.440 And then after that, they were dead to us, 26 00:00:49.440 --> 00:00:51.120 which I definitely don't recommend doing. 27 00:00:51.120 --> 00:00:52.800 But at the time, going into this, 28 00:00:52.800 --> 00:00:54.240 it wasn't a constraint of the business. 29 00:00:54.240 --> 00:00:56.120 And then it became one because all of a sudden, 30 00:00:56.120 --> 00:00:57.960 some of our ads weren't performing as well. 31 00:00:58.000 --> 00:00:59.160 And all of a sudden, we thought, 32 00:00:59.160 --> 00:01:01.520 oh my gosh, we might not have had our quarterly revenue goals. 33 00:01:01.520 --> 00:01:03.040 What else can we figure out? 34 00:01:03.040 --> 00:01:04.680 Enter the email campaign. 35 00:01:04.680 --> 00:01:06.400 Cool, so let's walk through the numbers. 36 00:01:06.400 --> 00:01:11.400 So the email list size was 3.3 million emails. 37 00:01:11.400 --> 00:01:14.880 Now this was over a few years that we collected these emails. 38 00:01:14.880 --> 00:01:16.240 And it was a traditional, 39 00:01:16.240 --> 00:01:17.680 think about it like an e-commerce setup. 40 00:01:17.680 --> 00:01:21.120 So it was an opt-in and then a sale and then upsells. 41 00:01:21.120 --> 00:01:22.920 So the next major number that we need to know 42 00:01:22.920 --> 00:01:25.160 is that this was a $2,000 price point. 43 00:01:26.160 --> 00:01:30.160 And we had an upsell on the back end for about $8,000. 44 00:01:31.880 --> 00:01:34.160 That a certain percentage of customers would take. 45 00:01:34.160 --> 00:01:36.320 Now, the next piece that's important for this 46 00:01:36.320 --> 00:01:40.680 is that we heard buyers and non-buyers that were on the list. 47 00:01:40.680 --> 00:01:44.640 So this was just a total list of everyone that we had ever had. 48 00:01:44.640 --> 00:01:46.000 Now in this business, traditionally, 49 00:01:46.000 --> 00:01:48.280 to sell just this $2,000 item, 50 00:01:48.280 --> 00:01:52.440 our cost to a car customer was $1,200. 51 00:01:52.440 --> 00:01:55.840 So not a lot of margin there left over. 52 00:01:55.840 --> 00:01:58.000 Now you can do this because it's an automated selling machine. 53 00:01:58.000 --> 00:01:58.840 So you can just crank on it. 54 00:01:58.840 --> 00:02:00.480 It's been with this particular business 55 00:02:00.480 --> 00:02:02.720 does it's a nine-figure company in terms of annual revenue. 56 00:02:02.720 --> 00:02:06.400 But we're like, hey, one of the other stats about email 57 00:02:06.400 --> 00:02:08.480 that's important is that the cost to a car customer on email 58 00:02:08.480 --> 00:02:12.200 once you've already acquired the lead is $0, 59 00:02:12.200 --> 00:02:14.280 which if I can have free customers, 60 00:02:14.280 --> 00:02:16.160 that means whatever my gross profit is 61 00:02:16.160 --> 00:02:19.560 of selling my main thing drops straight to my bottom line. 62 00:02:19.560 --> 00:02:21.160 And so as a mental construct for this, 63 00:02:21.160 --> 00:02:22.520 I like to think about email, 64 00:02:22.520 --> 00:02:25.000 kind of like a long-term investment account. 65 00:02:25.000 --> 00:02:27.920 And so it's like you run ads every single day 66 00:02:27.920 --> 00:02:31.280 or you do outbound or whatever it is to build your list up. 67 00:02:31.280 --> 00:02:32.880 And that's kind of like your paycheck, right? 68 00:02:32.880 --> 00:02:35.400 Like you put work in and you get paid back, right? 69 00:02:35.400 --> 00:02:38.120 And that's just just like a direct relationship. 70 00:02:38.120 --> 00:02:40.280 Whereas the email is kind of like your 401K. 71 00:02:40.280 --> 00:02:42.120 It's kind of like your investment account that you put, 72 00:02:42.120 --> 00:02:43.520 you put money into and then over time, 73 00:02:43.520 --> 00:02:45.480 it starts to compound and compound and compound. 74 00:02:45.480 --> 00:02:47.360 And if you have an email strategy, 75 00:02:47.360 --> 00:02:49.720 and I'm going to give you kind of an overarching email strategy 76 00:02:49.800 --> 00:02:51.640 that we like to employ in businesses. 77 00:02:51.640 --> 00:02:54.000 This business just is crushed, doing what we've been doing. 78 00:02:54.000 --> 00:02:55.440 So it hasn't been the main focus. 79 00:02:55.440 --> 00:02:57.880 But if you have a business like it is one of the easiest ways 80 00:02:57.880 --> 00:02:59.640 to just immediately plug in and print money. 81 00:02:59.640 --> 00:03:02.520 And the nice thing is is that even if it's late to the game, 82 00:03:02.520 --> 00:03:06.080 I mean, this business does a lot of money, 83 00:03:06.080 --> 00:03:08.680 you can still employ it and then immediately see the results. 84 00:03:08.680 --> 00:03:12.480 There's two things about email and having follow up 85 00:03:12.480 --> 00:03:15.800 beyond initial follow up that makes a business more valuable. 86 00:03:15.800 --> 00:03:18.720 Number one is that all sales that will come from email 87 00:03:18.720 --> 00:03:20.720 are going to drop straight to the bottom line in terms of profit. 88 00:03:20.720 --> 00:03:23.520 And so most businesses, 95% of businesses 89 00:03:23.520 --> 00:03:26.240 are traded on a multiple of bottom line. 90 00:03:26.240 --> 00:03:28.920 And so since these sales drop straight to the bottom line, 91 00:03:28.920 --> 00:03:31.720 it will be a big enhancer on the enterprise value. 92 00:03:31.720 --> 00:03:34.760 The second point is that if you have consistent email sales 93 00:03:34.760 --> 00:03:37.880 that come in, that number isn't going to really change. 94 00:03:37.880 --> 00:03:39.720 Like tomorrow, you don't go from 3.3 million 95 00:03:39.720 --> 00:03:42.240 to one and a half million emails on your list 96 00:03:42.240 --> 00:03:43.520 unless you know you clean the list or whatever. 97 00:03:43.520 --> 00:03:46.160 But fundamentally the list size isn't going to change overnight. 98 00:03:46.160 --> 00:03:47.880 Your ads might change overnight. 99 00:03:47.880 --> 00:03:49.560 But your email list won't. 100 00:03:49.560 --> 00:03:52.720 So what that does is it actually can smooth out volatility 101 00:03:52.720 --> 00:03:56.920 that occurs in a business which would make it more attractive to an investor. 102 00:03:56.920 --> 00:04:00.520 Long term, you'd like to have some sort of regular email cadence 103 00:04:00.520 --> 00:04:04.160 because things like deliverability and domain reputation 104 00:04:04.160 --> 00:04:06.040 and things like that come into play. 105 00:04:06.040 --> 00:04:08.440 I'm not going to get into that stuff for this video. 106 00:04:08.440 --> 00:04:10.120 I'm just going to talk about big picture email strategy 107 00:04:10.120 --> 00:04:12.080 that you can employ in your business now to make money. 108 00:04:12.080 --> 00:04:13.840 Great. Now that we have the numbers in the context, 109 00:04:13.840 --> 00:04:16.000 let's talk about the campaign. 110 00:04:16.000 --> 00:04:19.560 So what we did for the list is that we promoted a challenge. 111 00:04:19.560 --> 00:04:21.440 And it was a seven day challenge. 112 00:04:21.440 --> 00:04:25.280 And the reason that I think this is interesting and important 113 00:04:25.280 --> 00:04:28.280 is that number one, this came from the marketing director. 114 00:04:28.280 --> 00:04:30.400 And I think the reason that I want to highlight this 115 00:04:30.400 --> 00:04:32.680 is that this is why you need to have smart people. 116 00:04:32.680 --> 00:04:34.480 This didn't come from me. This didn't come from the founder. 117 00:04:34.480 --> 00:04:37.520 The marketing director was like, hey, I think we should do a challenge. 118 00:04:37.520 --> 00:04:39.720 Now we weren't actually super on board for this because we're like, 119 00:04:39.720 --> 00:04:41.000 hey, this might be a distraction. 120 00:04:41.000 --> 00:04:42.600 But it turned out to be really, really good 121 00:04:42.600 --> 00:04:45.240 and added over $100 million to enterprise value to the business. 122 00:04:45.640 --> 00:04:47.480 This business is already a multi-hundred million dollar 123 00:04:47.480 --> 00:04:48.480 enterprise value business. 124 00:04:48.480 --> 00:04:51.280 And so adding 10 or 20% to the enterprise value 125 00:04:51.280 --> 00:04:52.800 can be a very big difference. 126 00:04:52.800 --> 00:04:56.000 The second thing is this challenge actually came from the product. 127 00:04:56.000 --> 00:04:58.600 And so we pulled out something that was already something 128 00:04:58.600 --> 00:05:00.640 that we knew work that we were doing for customers. 129 00:05:00.640 --> 00:05:02.440 We pulled it out and we made it into a lead magnet. 130 00:05:02.440 --> 00:05:05.760 And so fundamentally, a lead magnet is a complete solution 131 00:05:05.760 --> 00:05:07.120 to a very narrow problem. 132 00:05:07.120 --> 00:05:08.840 And ideally, once you solve that problem, 133 00:05:08.840 --> 00:05:10.960 you create the next problem which you solve with your offer. 134 00:05:10.960 --> 00:05:13.920 And so fundamentally, that is what a good lead magnet does. 135 00:05:13.960 --> 00:05:15.400 And this is why challenges, I think, 136 00:05:15.400 --> 00:05:18.040 are very strongly magnets for a lot of businesses 137 00:05:18.040 --> 00:05:21.560 because they also satisfy all the elements of a value equation, 138 00:05:21.560 --> 00:05:23.400 which I talk about in my first book, 139 00:05:23.400 --> 00:05:24.440 $100 million dollars offers, 140 00:05:24.440 --> 00:05:27.400 which has sold almost a million copies so far. 141 00:05:27.400 --> 00:05:29.080 Now, the value equation works like this. 142 00:05:29.080 --> 00:05:31.880 You've got the outcome, which is the thing that people want. 143 00:05:31.880 --> 00:05:34.600 And so as long as you have a clearly defined outcome 144 00:05:34.600 --> 00:05:37.120 that they want, then that becomes more valuable. 145 00:05:37.120 --> 00:05:39.320 Now you multiply that by low risk 146 00:05:39.320 --> 00:05:41.120 or the perceived likelihood of achievement. 147 00:05:41.120 --> 00:05:43.800 How likely is it that when I buy this thing, 148 00:05:43.800 --> 00:05:45.760 I'm going to get this thing, if you have an outcome you want 149 00:05:45.760 --> 00:05:47.280 and it's guaranteed to get it, 150 00:05:47.280 --> 00:05:48.520 this is going to be really valuable. 151 00:05:48.520 --> 00:05:50.280 But there's two other elements. 152 00:05:50.280 --> 00:05:52.520 The thing is, is how long is it going to take? 153 00:05:52.520 --> 00:05:54.440 So if it takes a really long time, 154 00:05:54.440 --> 00:05:57.480 then I'm going to be like, OK, sure, I have this outcome, 155 00:05:57.480 --> 00:05:58.920 which is I get really rich. 156 00:05:58.920 --> 00:06:00.960 And the guarantee is that it'll definitely happen. 157 00:06:00.960 --> 00:06:03.240 But I got to wait 20 years of investing my money 158 00:06:03.240 --> 00:06:04.120 to become really rich. 159 00:06:04.120 --> 00:06:06.600 Well, it's not as attractive anymore, right? 160 00:06:06.600 --> 00:06:10.440 Then you do ease, which is how hard is it, 161 00:06:10.440 --> 00:06:14.400 to effort and sacrifice that are associated with this outcome? 162 00:06:14.400 --> 00:06:15.920 And so these are the four elements of value 163 00:06:15.920 --> 00:06:19.320 and so a challenge is a really clear outcome that everybody wants. 164 00:06:19.320 --> 00:06:22.120 It has high likelihood of actually happening. 165 00:06:22.120 --> 00:06:24.640 It happens really fast because we attach a time to it 166 00:06:24.640 --> 00:06:26.360 and because we're going to say, hey, we're only 167 00:06:26.360 --> 00:06:28.560 going to do this one thing and we're going to be all the steps. 168 00:06:28.560 --> 00:06:30.720 The perception of the prospect is that it's easy, 169 00:06:30.720 --> 00:06:33.280 which makes these very strong lead magnets. 170 00:06:33.280 --> 00:06:35.080 If you want to go through the experience of what going 171 00:06:35.080 --> 00:06:36.680 through one of these challenges looks like 172 00:06:36.680 --> 00:06:38.280 and you are somebody who wants to start a business 173 00:06:38.280 --> 00:06:39.720 or you haven't business either way, 174 00:06:39.720 --> 00:06:42.000 you can go join the school challenge for free. 175 00:06:42.000 --> 00:06:43.240 It's 14 days. 176 00:06:43.240 --> 00:06:44.800 We walk you through everything that we have. 177 00:06:44.800 --> 00:06:47.080 I take calls in that community to help people 178 00:06:47.080 --> 00:06:49.440 get their first business online started. 179 00:06:49.440 --> 00:06:51.120 We have everything down step by step. 180 00:06:51.120 --> 00:06:53.040 Once a month, I drop a full day mastermind training 181 00:06:53.040 --> 00:06:54.240 of all the people who are starting communities 182 00:06:54.240 --> 00:06:55.400 and making them. 183 00:06:55.400 --> 00:06:57.680 We've got it down like we're pretty good at helping people 184 00:06:57.680 --> 00:06:58.920 get to that first dollar. 185 00:06:58.920 --> 00:07:01.160 And so you can start for free, go to school.com, 186 00:07:01.160 --> 00:07:03.160 forward slash games, and I'll see you in there. 187 00:07:03.160 --> 00:07:04.600 So for this particular business, 188 00:07:04.600 --> 00:07:07.160 it's a business that helps people achieve an outcome 189 00:07:07.160 --> 00:07:08.880 that actually takes a little bit of time. 190 00:07:08.880 --> 00:07:10.320 And so what we did was say, okay, 191 00:07:10.320 --> 00:07:13.080 is there a smaller mini version of this big outcome 192 00:07:13.080 --> 00:07:15.440 that we can just kind of give them a taste to say, 193 00:07:15.440 --> 00:07:17.080 hey, imagine you were writing a book. 194 00:07:17.080 --> 00:07:18.320 That would take a really long time. 195 00:07:18.320 --> 00:07:20.720 Can I write a book lit in a short period of time? 196 00:07:20.720 --> 00:07:21.600 And if the answer is yes, 197 00:07:21.600 --> 00:07:23.000 which would be the version of this challenge, 198 00:07:23.000 --> 00:07:23.840 then maybe they're cool. 199 00:07:23.840 --> 00:07:25.080 Let's do a thing that we can write a booklet 200 00:07:25.080 --> 00:07:26.640 for somebody in that period of time. 201 00:07:26.640 --> 00:07:27.960 And that's exactly what we did. 202 00:07:27.960 --> 00:07:29.080 Now, I use this as an example, 203 00:07:29.080 --> 00:07:30.560 but for every business, just think, 204 00:07:30.560 --> 00:07:33.280 is there a mini version or a first step version 205 00:07:33.280 --> 00:07:34.480 that I can completely solve? 206 00:07:34.480 --> 00:07:36.240 That then someone's like, well, now I have this thing. 207 00:07:36.240 --> 00:07:37.600 Now I have my table of contents. 208 00:07:37.600 --> 00:07:38.600 Now I have my wireframe. 209 00:07:38.640 --> 00:07:42.160 Now I have my first step on this multi-step journey. 210 00:07:42.160 --> 00:07:43.240 So if I was in weight loss, 211 00:07:43.240 --> 00:07:46.000 I'd probably have them to do some sort of like seven-day cleanse 212 00:07:46.000 --> 00:07:46.920 or something like that. 213 00:07:46.920 --> 00:07:50.280 Again, I'm not going to get into what's good, what's bad here. 214 00:07:50.280 --> 00:07:52.360 I'm just saying that I would have some person 215 00:07:52.360 --> 00:07:54.960 that gets, you know, they lose seven pounds in seven days. 216 00:07:54.960 --> 00:07:56.320 A lot of that's going to be water, 217 00:07:56.320 --> 00:07:57.560 but they're excited about it. 218 00:07:57.560 --> 00:07:58.440 And they're like, great. 219 00:07:58.440 --> 00:08:00.600 Now let's talk about your long-term goals, right? 220 00:08:00.600 --> 00:08:02.040 Because now they have an element of belief. 221 00:08:02.040 --> 00:08:03.160 They've taken action. 222 00:08:03.160 --> 00:08:05.040 They've gotten some reward for their behavior. 223 00:08:05.040 --> 00:08:06.120 They've interacted with us. 224 00:08:06.120 --> 00:08:08.200 All of these things align with them, making a purchase. 225 00:08:08.200 --> 00:08:11.520 What challenges do is they approximate brand. 226 00:08:11.520 --> 00:08:13.640 And so this is how it actually works. 227 00:08:13.640 --> 00:08:15.080 The reason the direct response 228 00:08:15.080 --> 00:08:17.320 internet marketing world does a lot of these things 229 00:08:17.320 --> 00:08:19.000 is because none of them have brands. 230 00:08:19.000 --> 00:08:21.200 And so like for me, for example, 231 00:08:21.200 --> 00:08:23.480 if someone's already consumed gazillion videos of mine 232 00:08:23.480 --> 00:08:24.960 or podcasts of mine, then if I say, 233 00:08:24.960 --> 00:08:26.200 hey, do you want to check this thing out? 234 00:08:26.200 --> 00:08:27.040 A lot of people are like, yeah, 235 00:08:27.040 --> 00:08:29.000 you've already given me gazillion other things 236 00:08:29.000 --> 00:08:30.000 and so sure. 237 00:08:30.000 --> 00:08:32.440 But if your brand knew, then what you do 238 00:08:32.440 --> 00:08:34.760 is you basically approximate a relationship 239 00:08:34.760 --> 00:08:36.640 where you would have already had a lot of interactions. 240 00:08:36.640 --> 00:08:40.240 You basically try and cram a six-month relationship 241 00:08:40.240 --> 00:08:41.080 into seven days. 242 00:08:41.080 --> 00:08:42.480 So it's kind of like one of those dating shows 243 00:08:42.480 --> 00:08:45.080 where they say, will you get married in 30 days 244 00:08:45.080 --> 00:08:47.240 and they like try and cram a whole relationship 245 00:08:47.240 --> 00:08:48.080 into that period? 246 00:08:48.080 --> 00:08:49.680 It actually kind of is the same thing 247 00:08:49.680 --> 00:08:50.960 when you come from a marketing perspective 248 00:08:50.960 --> 00:08:52.800 as you're just rapidly warming up. 249 00:08:52.800 --> 00:08:54.680 You're like microwaving the prospect 250 00:08:54.680 --> 00:08:55.880 rather than slow cooking it, 251 00:08:55.880 --> 00:08:57.440 which is kind of the normal branding way. 252 00:08:57.440 --> 00:08:58.280 Right. 253 00:08:58.280 --> 00:08:59.280 And for example, in the school games, 254 00:08:59.280 --> 00:09:00.960 that's our version of a challenge. 255 00:09:00.960 --> 00:09:02.440 We just called the school games a cooler wrapper. 256 00:09:02.440 --> 00:09:04.640 We have leaderboards and prizes and things like that. 257 00:09:04.640 --> 00:09:08.480 And so we walk people through how to start a business online. 258 00:09:08.480 --> 00:09:10.760 And so we get one out of three people just under 259 00:09:10.760 --> 00:09:13.320 to get their first dollar within the first month, 260 00:09:13.320 --> 00:09:14.280 which is pretty cool. 261 00:09:14.280 --> 00:09:16.440 We've put a lot of time into getting that kind of outcome 262 00:09:16.440 --> 00:09:18.120 and then once someone makes a dollar, then they're like, 263 00:09:18.120 --> 00:09:20.760 shoot, I can see how I could make more dollars. 264 00:09:20.760 --> 00:09:22.920 And so that's the idea is like, you want to approximate, 265 00:09:22.920 --> 00:09:24.000 you want to do it really fast. 266 00:09:24.000 --> 00:09:25.680 You mean as easy as possible to make it as guaranteed 267 00:09:25.680 --> 00:09:27.680 as possible and an outcome that they care about. 268 00:09:27.680 --> 00:09:29.040 So now that you know what the setup is, 269 00:09:29.040 --> 00:09:30.880 let's go back and add a couple of numbers 270 00:09:30.880 --> 00:09:33.400 to this campaign and then I'll walk you through it happen. 271 00:09:33.400 --> 00:09:38.360 So we sent the emails only to a small sub-segment of the list. 272 00:09:38.360 --> 00:09:42.240 So we had 464,000 people that we sent it to. 273 00:09:42.240 --> 00:09:43.840 And that was because we wanted to test it out. 274 00:09:43.840 --> 00:09:50.240 We didn't want to blow our load on the whole list. 275 00:09:50.240 --> 00:09:52.960 And so we just said it's like 15% of the list. 276 00:09:52.960 --> 00:09:55.440 And the reason we did that is because if this thing bond, 277 00:09:55.440 --> 00:09:57.200 we do want to like piss off the entire list. 278 00:09:57.200 --> 00:09:59.240 And so we sent it to 15% of the list. 279 00:09:59.240 --> 00:10:00.680 A lot of them were non-buyers. 280 00:10:00.680 --> 00:10:04.120 And from there, what we saw is we had 10,000 people 281 00:10:04.120 --> 00:10:07.920 who registered for this thing, 282 00:10:07.920 --> 00:10:11.400 which good or bad, whatever, for us in an absolute number, 283 00:10:11.400 --> 00:10:14.320 10,000 people shows a pretty decent amount of interest. 284 00:10:14.320 --> 00:10:16.440 So in order to get this 10,000, 285 00:10:16.440 --> 00:10:20.280 we had an 18% open rate, meaning 18, 286 00:10:20.280 --> 00:10:23.600 just about one out of five people opened the actual email. 287 00:10:23.600 --> 00:10:24.480 Okay, great. 288 00:10:24.480 --> 00:10:28.960 Now from there, we had about 5% of those people 289 00:10:28.960 --> 00:10:31.560 actually click to join the thing. 290 00:10:31.560 --> 00:10:33.360 And then the rest was the opt-in percentage 291 00:10:33.360 --> 00:10:34.560 on the page to register. 292 00:10:34.560 --> 00:10:35.600 That got us to 10,000. 293 00:10:35.600 --> 00:10:40.600 So it went from 464 to 83,000 that opened it from 83,000. 294 00:10:41.600 --> 00:10:43.440 10,000 of them actually registered. 295 00:10:43.440 --> 00:10:46.640 So a pretty good percentage actually 296 00:10:46.640 --> 00:10:48.240 who did click wanted to do it. 297 00:10:48.240 --> 00:10:49.760 And as you get into a cadence of this, 298 00:10:49.760 --> 00:10:51.480 which I'll explain at the end in terms of how to implement 299 00:10:51.480 --> 00:10:54.480 this ongoing as an email strategy to make more money, 300 00:10:54.480 --> 00:10:58.360 is that as soon as you really nail what that lead magnet is 301 00:10:58.440 --> 00:11:00.000 or what that challenges or whatever it is 302 00:11:00.000 --> 00:11:01.840 that you're gonna get your leads to engage again 303 00:11:01.840 --> 00:11:04.800 or re-engage, these funnel metrics will always improve. 304 00:11:04.800 --> 00:11:06.360 You're gonna split test the subject headlines, 305 00:11:06.360 --> 00:11:07.800 you're gonna split test the opening on the email 306 00:11:07.800 --> 00:11:09.040 you're gonna split test the CTAs 307 00:11:09.040 --> 00:11:10.720 and the links that you're gonna use, 308 00:11:10.720 --> 00:11:12.320 the landing pages that you send them to, 309 00:11:12.320 --> 00:11:14.720 the offer that you attract them with, 310 00:11:14.720 --> 00:11:16.880 the headline of the naming of the challenge, 311 00:11:16.880 --> 00:11:18.560 which by the way is a great way to vary this up 312 00:11:18.560 --> 00:11:19.640 if you do it like once a quarter, 313 00:11:19.640 --> 00:11:20.840 which I'll talk about later. 314 00:11:20.840 --> 00:11:23.120 Like you can do the same play, 315 00:11:23.120 --> 00:11:24.800 but you just put a different wrap on it. 316 00:11:24.800 --> 00:11:26.080 So for example, in the gym world, 317 00:11:26.080 --> 00:11:27.200 because I came from this world, 318 00:11:27.240 --> 00:11:30.880 it's like I might have a six week challenge, 319 00:11:30.880 --> 00:11:32.720 I might have a 42 day fix, 320 00:11:32.720 --> 00:11:34.720 I might have a 42 day transformation, 321 00:11:34.720 --> 00:11:36.920 I might have a six week booty blast, 322 00:11:36.920 --> 00:11:39.800 I might have a six week slim for Santa, 323 00:11:39.800 --> 00:11:41.920 I might have a lean by Halloween, 324 00:11:41.920 --> 00:11:43.560 like I've done a lot of these, 325 00:11:43.560 --> 00:11:46.600 accountability, challenge, like I've done a lot, 326 00:11:46.600 --> 00:11:48.280 and you know what, slim for summer, 327 00:11:48.280 --> 00:11:50.320 all of these things work, 328 00:11:50.320 --> 00:11:51.320 but fundamentally what are we gonna do? 329 00:11:51.320 --> 00:11:52.600 We're gonna eat, you're gonna eat last, 330 00:11:52.600 --> 00:11:53.440 you're gonna move more. 331 00:11:53.440 --> 00:11:56.160 And so even though the deliverable of the challenge 332 00:11:56.160 --> 00:11:58.080 the lead magnet might more or less be the same, 333 00:11:58.080 --> 00:11:59.840 you can just wrap it seasonally, 334 00:11:59.840 --> 00:12:02.080 or you can wrap it based on a specific pain point 335 00:12:02.080 --> 00:12:03.480 that happens at that time of year. 336 00:12:03.480 --> 00:12:06.520 So let me walk you through the results math, right? 337 00:12:10.960 --> 00:12:12.280 So do a clean page. 338 00:12:12.280 --> 00:12:14.920 So we had 10,000 people who registered. 339 00:12:14.920 --> 00:12:17.400 I actually don't have the data on how many people 340 00:12:17.400 --> 00:12:19.920 attended live and watched throughout the whole seven days. 341 00:12:19.920 --> 00:12:22.720 I can get this, but I know the high level. 342 00:12:22.800 --> 00:12:27.800 And so from 10,000, we had 800 people who actually bought. 343 00:12:27.800 --> 00:12:30.600 All right, so we had about 8% of people 344 00:12:30.600 --> 00:12:32.160 who made the purchase, which is pretty good. 345 00:12:32.160 --> 00:12:34.600 Not unhappy about that at all, do I think we can improve it? 346 00:12:34.600 --> 00:12:37.120 Yes, but fundamentally this was to a list 347 00:12:37.120 --> 00:12:39.120 of plenty of people who hadn't bought the new who we were, 348 00:12:39.120 --> 00:12:41.800 so I'd say it was a little bit warmer than true cold, 349 00:12:41.800 --> 00:12:43.960 but a lot of them had never bought anything from us before. 350 00:12:43.960 --> 00:12:47.240 And so that resulted, remember this is a $2,000 price point? 351 00:12:47.240 --> 00:12:50.200 In $1.6 million in new sales 352 00:12:50.200 --> 00:12:51.640 that we did just from this email campaign. 353 00:12:51.680 --> 00:12:53.080 You're like, wait a second, I thought you said 354 00:12:53.080 --> 00:12:55.200 you did two million or more than two million. 355 00:12:55.200 --> 00:12:56.800 Let me explain what happened from there. 356 00:12:56.800 --> 00:12:59.400 So from there, we had 20% of people 357 00:12:59.400 --> 00:13:02.120 ascended into the AK product, which allowed us to make 358 00:13:02.120 --> 00:13:05.560 an extra 800K from the ascensions. 359 00:13:05.560 --> 00:13:09.560 And so that gave us $2.4 million in total 360 00:13:09.560 --> 00:13:11.720 from this seven day email campaign. 361 00:13:11.720 --> 00:13:15.160 Now, I want to break something very cool off for you, 362 00:13:15.160 --> 00:13:17.800 which is that you see 2.4 million. 363 00:13:17.800 --> 00:13:22.760 Now, that was derived from a list that was 464,000 emails. 364 00:13:22.760 --> 00:13:27.440 And so that means we were making roughly six bucks per email 365 00:13:27.440 --> 00:13:28.800 in this campaign. 366 00:13:28.800 --> 00:13:33.880 And so if you know that you do this, call it four times a year, 367 00:13:33.880 --> 00:13:36.320 which I would recommend you do when we get into the takeaway 368 00:13:36.320 --> 00:13:39.240 section, meaning one time per quarter, you do a cleanup, 369 00:13:39.240 --> 00:13:41.560 we say, great, we're going to take all the leads that we had, 370 00:13:41.560 --> 00:13:43.640 and we're going to run them through a conversion mechanism. 371 00:13:43.640 --> 00:13:45.360 In this way, it's not like, oh, shoot, I 372 00:13:45.360 --> 00:13:46.240 have to do this all the time. 373 00:13:46.240 --> 00:13:47.720 It's like, all right, I'm going to do this big thing. 374 00:13:47.800 --> 00:13:50.160 I'm going to do it once a quarter, and we clean up our Q1. 375 00:13:50.160 --> 00:13:51.240 We clean up our Q2. 376 00:13:51.240 --> 00:13:54.120 We clean up our Q3 by running all of our leads 377 00:13:54.120 --> 00:13:56.120 through this high converting funnel that we've structured 378 00:13:56.120 --> 00:13:58.480 purposely for nonbuyers, so we have different hooks, 379 00:13:58.480 --> 00:14:00.440 different front ends that has different messaging 380 00:14:00.440 --> 00:14:02.480 that might not have been the primary message 381 00:14:02.480 --> 00:14:05.400 that converts the most people, which is our first whack at it. 382 00:14:05.400 --> 00:14:07.440 But this is our second and third whack at it. 383 00:14:07.440 --> 00:14:11.800 And by varying the titles that you use in each of the quarterly 384 00:14:11.800 --> 00:14:15.200 things that you do, so Q1 will have a different name than Q2, 385 00:14:15.200 --> 00:14:16.480 you'll still be able to attract people 386 00:14:16.520 --> 00:14:18.720 that necessarily fatiguing or tiring the list. 387 00:14:18.720 --> 00:14:21.720 And in between those times, you can then simply provide value 388 00:14:21.720 --> 00:14:24.160 to the list, and so you've deposited some goodwill 389 00:14:24.160 --> 00:14:27.040 that earns you the right to be able to ask for the sale. 390 00:14:27.040 --> 00:14:29.320 So let me walk you through the takeaways that we had from this 391 00:14:29.320 --> 00:14:33.320 that you can use for your own business to make more money. 392 00:14:33.320 --> 00:14:36.560 So there's four main takeaways that I would recommend you take 393 00:14:36.560 --> 00:14:38.000 from this, that I take from this. 394 00:14:38.000 --> 00:14:39.920 Number one is smart people. 395 00:14:39.920 --> 00:14:43.400 All right, so you have to be able to trust your people 396 00:14:43.400 --> 00:14:44.400 to make recommendations. 397 00:14:44.400 --> 00:14:47.520 Now, neither the CEO nor I, so I like to say this, 398 00:14:47.520 --> 00:14:50.120 like I also have not always in favor of ideas 399 00:14:50.120 --> 00:14:52.880 that make lots of money, because I mess up too. 400 00:14:52.880 --> 00:14:55.040 But we were like, you know what, they're a little closer to it. 401 00:14:55.040 --> 00:14:56.600 We will trust that they're super excited about it, 402 00:14:56.600 --> 00:14:58.880 because the flip side is, if you bash every idea 403 00:14:58.880 --> 00:15:00.280 that your team comes to you with, 404 00:15:00.280 --> 00:15:02.160 then they're gonna stop thinking about ideas. 405 00:15:02.160 --> 00:15:03.000 And then all of a sudden, you're like, 406 00:15:03.000 --> 00:15:05.040 why doesn't my team ever think of anything? 407 00:15:05.040 --> 00:15:06.680 It's like, well, because you turn them down every time. 408 00:15:06.680 --> 00:15:09.960 And so there's kind of like, what hills do I wanna die on? 409 00:15:09.960 --> 00:15:12.120 And what times do I wanna say, hey, give it a shot. 410 00:15:12.120 --> 00:15:14.440 I don't think, like, is this gonna do damage to the brand? 411 00:15:14.440 --> 00:15:15.280 No, I don't think so. 412 00:15:15.280 --> 00:15:16.720 We're currently not doing anything there. 413 00:15:16.720 --> 00:15:19.280 And if you're really passionate about it, sure, let's do it. 414 00:15:19.280 --> 00:15:22.840 So one, having smart people too, which is trusting them. 415 00:15:22.840 --> 00:15:24.960 All right, so I say this is still as first kind of people 416 00:15:24.960 --> 00:15:27.600 related for this, is you still gotta trust those people 417 00:15:27.600 --> 00:15:29.440 and make a bet with them. 418 00:15:29.440 --> 00:15:31.080 And part of the reason I say trust them, 419 00:15:31.080 --> 00:15:31.840 obviously you wanna trust them 420 00:15:31.840 --> 00:15:33.480 because they're competent, they're intelligent, 421 00:15:33.480 --> 00:15:34.480 and they're well-intentioned. 422 00:15:34.480 --> 00:15:36.480 But the other thing is that they sometimes just have data 423 00:15:36.480 --> 00:15:39.240 that you don't have, because fundamentally in a business, 424 00:15:39.240 --> 00:15:41.080 there's data that's happening all over the place, 425 00:15:41.080 --> 00:15:42.880 and you're only gonna get snippets as CEO, 426 00:15:42.880 --> 00:15:44.120 especially the bigger the company is, right? 427 00:15:44.120 --> 00:15:46.120 This is the business that's almost 10 million a month. 428 00:15:46.120 --> 00:15:47.040 Like, it's a very large business, 429 00:15:47.040 --> 00:15:48.160 there's lots of things going on. 430 00:15:48.160 --> 00:15:51.040 And so that person is gonna be much closer to the data, 431 00:15:51.040 --> 00:15:54.120 have a much closer pulse than sometimes the founder of CEO 432 00:15:54.120 --> 00:15:54.960 might have. 433 00:15:54.960 --> 00:15:57.880 And so sometimes they have data that you're not working with, 434 00:15:57.880 --> 00:16:01.360 and that's why extending a bridge of trust is important. 435 00:16:01.360 --> 00:16:06.360 So the second takeaway is offers to money, all right? 436 00:16:07.280 --> 00:16:11.160 So the amount of offers that you make to any prospect 437 00:16:11.160 --> 00:16:13.320 is directly correlated with the amount of money 438 00:16:13.320 --> 00:16:14.960 that you'll make with the single caveat 439 00:16:14.960 --> 00:16:17.160 that every time you make an offer, you lose goodwill. 440 00:16:17.160 --> 00:16:18.760 And so what you wanna do is make sure 441 00:16:18.760 --> 00:16:20.280 that you're depositing sufficient goodwill 442 00:16:20.280 --> 00:16:22.600 that you can earn the ask. 443 00:16:22.600 --> 00:16:25.800 And so make as many as you can, 444 00:16:25.800 --> 00:16:28.520 while also providing those which value as you can, 445 00:16:28.520 --> 00:16:30.040 which means that if you wanna make a lot of offers, 446 00:16:30.040 --> 00:16:31.880 you just gotta provide that much more value. 447 00:16:31.880 --> 00:16:33.840 Now, with this particular instance, 448 00:16:33.840 --> 00:16:35.960 we were going to a list that we had emailed, 449 00:16:35.960 --> 00:16:38.760 but not a lot, but we hadn't really emailed any offers 450 00:16:38.760 --> 00:16:39.600 to in a very long time. 451 00:16:39.600 --> 00:16:42.800 And so even though we weren't putting a ton of value, 452 00:16:42.800 --> 00:16:45.600 our give to ask ratio was still okay, 453 00:16:45.600 --> 00:16:47.480 because we hadn't asked at all. 454 00:16:47.480 --> 00:16:49.920 And so I talk about the give to ask ratio 455 00:16:49.920 --> 00:16:51.560 in the content section of this book, 456 00:16:51.560 --> 00:16:54.160 and the reason that I actually consider email 457 00:16:54.160 --> 00:16:57.080 a form of content is that it's one to many distribution 458 00:16:57.080 --> 00:16:58.440 to people who know you. 459 00:16:58.440 --> 00:17:01.680 Now, it's just free, which also is just like 460 00:17:01.680 --> 00:17:03.040 when you post on social media, 461 00:17:03.040 --> 00:17:05.560 the only difference is that you control 100% 462 00:17:05.560 --> 00:17:07.200 of who gets this, whereas on social media, 463 00:17:07.200 --> 00:17:09.720 algorithms, things like that, distribute your content. 464 00:17:09.720 --> 00:17:11.480 But fundamentally, you're distributing one message 465 00:17:11.480 --> 00:17:13.240 to many people and it's free. 466 00:17:13.240 --> 00:17:15.440 And so that is what makes emails so profitable, 467 00:17:15.440 --> 00:17:17.080 just like organic. 468 00:17:17.080 --> 00:17:18.640 And I wanna add a little caveat here, 469 00:17:18.640 --> 00:17:23.520 which is that it's okay to ask for the sale again. 470 00:17:23.520 --> 00:17:25.920 And so all these people, or the majority of these buyers 471 00:17:25.920 --> 00:17:27.440 hadn't bought this thing. 472 00:17:27.440 --> 00:17:29.320 And so when we asked again, 473 00:17:29.320 --> 00:17:31.400 some people were afraid of making the second ask, 474 00:17:31.400 --> 00:17:34.800 but people get busy, they leave a shopping cart up, 475 00:17:34.800 --> 00:17:36.480 and then they, you know, there are other kid screams 476 00:17:36.480 --> 00:17:37.320 and they forget about it. 477 00:17:37.320 --> 00:17:38.720 Like, it happens. 478 00:17:38.720 --> 00:17:41.520 And so you can't get too bent out of shape 479 00:17:41.520 --> 00:17:43.920 on the fact that like, you're gonna offend people 480 00:17:43.920 --> 00:17:45.040 by asking them. 481 00:17:45.040 --> 00:17:47.080 It's okay to ask as long as you earn the right 482 00:17:47.080 --> 00:17:49.960 and you've given until you've deposited enough goodwill 483 00:17:49.960 --> 00:17:52.440 that there's enough demand, there's surge there, 484 00:17:52.440 --> 00:17:54.640 that you can let loose the valve of money, 485 00:17:54.640 --> 00:17:57.000 and it can come on, and then you can close it again. 486 00:17:57.000 --> 00:17:59.640 So the third takeaway is that you can sell the same thing 487 00:17:59.640 --> 00:18:00.960 in a different way. 488 00:18:01.080 --> 00:18:05.840 And so I can sell a product on a webinar. 489 00:18:05.840 --> 00:18:07.000 I could sell it on a phone. 490 00:18:07.000 --> 00:18:10.200 I could sell it via a live workshop in person. 491 00:18:10.200 --> 00:18:11.960 I could sell it via email. 492 00:18:11.960 --> 00:18:14.960 And so you can have less off of fatigue 493 00:18:14.960 --> 00:18:18.000 by selling the same offer in a different medium. 494 00:18:18.000 --> 00:18:21.160 And so you can get more hacks or more at bats 495 00:18:21.160 --> 00:18:24.480 because people will judge their goodwill with you 496 00:18:24.480 --> 00:18:26.560 based on the medium that you're communicating in. 497 00:18:26.560 --> 00:18:28.560 And so this is something that I have found. 498 00:18:28.560 --> 00:18:31.640 And it also, by the way, is a great way to vary products up. 499 00:18:31.640 --> 00:18:33.560 And so for example, if you're an educator, 500 00:18:33.560 --> 00:18:35.680 I'll just use this because it's simple. 501 00:18:35.680 --> 00:18:38.880 If I have content on the internet, that's free. 502 00:18:38.880 --> 00:18:41.160 If I make a course, you could charge for it 503 00:18:41.160 --> 00:18:42.400 or you could make it free. 504 00:18:42.400 --> 00:18:44.640 If I deliver that same course in a book format, 505 00:18:44.640 --> 00:18:45.600 it's not gonna be able to sell 506 00:18:45.600 --> 00:18:47.160 for the same amount that a course could. 507 00:18:47.160 --> 00:18:50.920 If I deliver that same format in a live in person experience 508 00:18:50.920 --> 00:18:53.400 that's gonna be probably charged significantly more 509 00:18:53.400 --> 00:18:54.960 than it would in a digital format. 510 00:18:54.960 --> 00:18:57.040 If I did a live format, but virtual, 511 00:18:57.040 --> 00:18:59.280 it would be a different price point than the live in person. 512 00:18:59.280 --> 00:19:01.360 And so for each of these mediums, 513 00:19:01.360 --> 00:19:04.680 even if the same information is being taught, 514 00:19:04.680 --> 00:19:05.840 you price it differently. 515 00:19:05.840 --> 00:19:07.840 Same reason that when you go in person in college, 516 00:19:07.840 --> 00:19:09.600 they charge you a arm and a leg for it, 517 00:19:09.600 --> 00:19:12.760 but digital college almost ubiquitously 518 00:19:12.760 --> 00:19:14.480 is way, way, way lower priced. 519 00:19:14.480 --> 00:19:16.080 Even though it's the same information, 520 00:19:16.080 --> 00:19:19.320 it's simply being delivered through a different medium. 521 00:19:19.320 --> 00:19:21.240 And so you can sell in different mediums 522 00:19:21.240 --> 00:19:22.600 and deliver in different mediums. 523 00:19:22.600 --> 00:19:25.440 And for my experience, people will apprise or judge 524 00:19:25.440 --> 00:19:28.880 the decision based on that medium exclusively. 525 00:19:28.880 --> 00:19:33.120 So the fourth takeaway is I'll just call the quarterly cleanup. 526 00:19:33.120 --> 00:19:35.560 So this is probably the most tactical recommendation 527 00:19:35.560 --> 00:19:37.600 that I can give you that I alluded to a little bit earlier, 528 00:19:37.600 --> 00:19:41.880 which is I would recommend that you do this once every quarter. 529 00:19:41.880 --> 00:19:43.800 You do this conversion mechanism, 530 00:19:43.800 --> 00:19:45.040 whether you do some sort of challenge 531 00:19:45.040 --> 00:19:46.520 or some sort of defined outcome 532 00:19:46.520 --> 00:19:49.840 or some sort of lead mag that you used to re-engage your list, 533 00:19:49.840 --> 00:19:51.920 and put them through some sort of conversion event 534 00:19:51.920 --> 00:19:53.680 with a deadline with a big promise 535 00:19:53.680 --> 00:19:55.120 that you know you can deliver on. 536 00:19:55.200 --> 00:19:56.880 And so if you do this once a quarter 537 00:19:56.880 --> 00:19:59.240 and you weren't doing this, you can almost immediately add, 538 00:19:59.240 --> 00:20:00.840 like you saw the numbers there. 539 00:20:00.840 --> 00:20:05.520 We had $6 per email from that 450,000 sub-segment. 540 00:20:05.520 --> 00:20:07.600 Now, to prove that this worked, 541 00:20:07.600 --> 00:20:10.080 what we did was we just did it again, 542 00:20:10.080 --> 00:20:12.160 by the way, one of my favorite business strategies. 543 00:20:12.160 --> 00:20:15.160 Do something that works, do it again, do more of it, 544 00:20:15.160 --> 00:20:16.280 and ideally do it better. 545 00:20:16.280 --> 00:20:18.000 And so we ran the exact same play again 546 00:20:18.000 --> 00:20:19.560 to a different sub-segment of the list, 547 00:20:19.560 --> 00:20:21.360 and boom, we hit 2.2 million. 548 00:20:21.360 --> 00:20:23.400 We didn't wait a quarter, we just did it the next month. 549 00:20:23.400 --> 00:20:26.440 And so I say this because this stuff works, 550 00:20:26.440 --> 00:20:27.560 and once you know it works, 551 00:20:27.560 --> 00:20:29.520 you can keep duplicating it over and over again. 552 00:20:29.520 --> 00:20:31.840 And guess what we're gonna do next quarter now 553 00:20:31.840 --> 00:20:33.840 that we know that we tested it on two sub-segments? 554 00:20:33.840 --> 00:20:35.280 We're gonna do it to the whole list, 555 00:20:35.280 --> 00:20:36.560 and we're gonna use the learnings 556 00:20:36.560 --> 00:20:38.240 that we had from the first two tests. 557 00:20:38.240 --> 00:20:40.840 And so if you are gonna run this as the corner you clean up, 558 00:20:40.840 --> 00:20:43.160 I would recommend using 10% of your list 559 00:20:43.160 --> 00:20:44.920 or a smaller percentage, because believe me, 560 00:20:44.920 --> 00:20:45.920 as soon as you learn the things 561 00:20:45.920 --> 00:20:47.320 that you messed up on the first try, 562 00:20:47.320 --> 00:20:48.280 you're gonna be really grateful 563 00:20:48.280 --> 00:20:50.000 that you didn't run it to the entire list. 564 00:20:50.000 --> 00:20:52.640 So do one, two, or three test runs 565 00:20:52.640 --> 00:20:57.560 before you blow the whole list up with this new promo 566 00:20:57.560 --> 00:20:59.200 that you've already tested the messaging, 567 00:20:59.200 --> 00:21:02.080 the subject head, the CTAs, the landing page, 568 00:21:02.080 --> 00:21:04.320 those little tests that you can run in the meantime 569 00:21:04.320 --> 00:21:06.280 that can sometimes double or triple 570 00:21:06.280 --> 00:21:08.040 the throughput of the campaign. 571 00:21:08.040 --> 00:21:09.920 And so with every one of these campaigns, 572 00:21:09.920 --> 00:21:12.560 I would recommend always testing some elements of it, 573 00:21:12.560 --> 00:21:14.160 so you can always make it a little bit better. 574 00:21:14.160 --> 00:21:16.560 And so one, you're doing this every quarter, 575 00:21:16.560 --> 00:21:19.800 two, you can test it with a small portion of the list. 576 00:21:19.880 --> 00:21:22.480 Three is that in order to make it seem 577 00:21:22.480 --> 00:21:24.320 an appear different to the non buyer 578 00:21:24.320 --> 00:21:27.360 who doesn't buy on the first hack or the second hack, 579 00:21:27.360 --> 00:21:29.200 we change the naming of it or the wrapper of it. 580 00:21:29.200 --> 00:21:31.400 So change the landing page, change the subject head 581 00:21:31.400 --> 00:21:33.360 of the email, change the name of the challenge 582 00:21:33.360 --> 00:21:35.760 or the lead magnet, even if the core components are the same. 583 00:21:35.760 --> 00:21:38.480 Fundamentally, your business isn't going to change, right? 584 00:21:38.480 --> 00:21:40.240 But the way that you position it 585 00:21:40.240 --> 00:21:43.040 or the reason why that you have the promotion can. 586 00:21:43.040 --> 00:21:44.960 And I recommend doing something that's seasonal 587 00:21:44.960 --> 00:21:46.480 or doing something that's a life event for you. 588 00:21:46.480 --> 00:21:49.120 I talked about this in the last chapter of the offers book, 589 00:21:49.120 --> 00:21:51.640 which this is especially important for local businesses 590 00:21:51.640 --> 00:21:53.120 because you have much smaller audiences. 591 00:21:53.120 --> 00:21:56.120 And so fatigue happens much faster with a tiny audience. 592 00:21:56.120 --> 00:21:57.800 And so you actually have to have a lot more variety. 593 00:21:57.800 --> 00:21:59.760 And I know this because that was the world I came from. 594 00:21:59.760 --> 00:22:01.400 And so that's why I have all these, 595 00:22:01.400 --> 00:22:03.680 these isms in the back of my mind of how I had to wrap 596 00:22:03.680 --> 00:22:05.560 and rewrap the same thing, which is fundamentally 597 00:22:05.560 --> 00:22:07.080 fitness and nutrition, right? 598 00:22:07.080 --> 00:22:08.560 Like how many ways can I slice it? 599 00:22:08.560 --> 00:22:09.840 Turns out a lot. 600 00:22:09.840 --> 00:22:12.840 And I will say that once you have one annual calendar, 601 00:22:12.840 --> 00:22:13.960 you can pretty much stick with it. 602 00:22:13.960 --> 00:22:16.680 So you don't need to come up with another thing next year. 603 00:22:16.680 --> 00:22:18.280 Once you have your four big promos 604 00:22:18.320 --> 00:22:19.120 that you're going to run throughout the year 605 00:22:19.120 --> 00:22:20.120 that you know are tested, 606 00:22:20.120 --> 00:22:23.160 those just become autopilot and they just become cash printers. 607 00:22:23.160 --> 00:22:25.360 And if this type of case study deep breakdowns 608 00:22:25.360 --> 00:22:26.720 on business interesting to you, 609 00:22:26.720 --> 00:22:27.880 I have another one where I doubled one 610 00:22:27.880 --> 00:22:29.400 of our portfolio companies in 60 days. 611 00:22:29.400 --> 00:22:30.240 Check that one out.