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Mastermind Notes - Stefan Georgi, Justin Goff - 2019
Mastermind Notes - Stefan Georgi, Justin Goff - 2019
- Mechanism
o Two parts:
§ Unique mechanism behind the Problem our prospect faces
§ Unique mechanism behind the solution to that problem
§ Should be a logical connection between them
- Brief
o Take research and mechanism, put it together and answer the questions
o Get in their skin and answer:
§ Whos the audience
§ Their biggest short and long term pain points/fears
§ Big promise about making t heir pain points disappear
§ Whats Solutions already exist
§ Whats Unique mechanism behind their problem/solution
§ Whats a paradoxical question you can ask them (e.g. why’s it so easy
for a kid to. Learn a language and not an adult? Or ‘why don’t people
in this random place never get fat’ etc)
§ What is the product (write it out)
§ Whats the background/discovery story
o Once you have this, you can start moving it into your sales copy like modules,
copy and paste it in
- Copy
o Lead (get them to sit down and stay, but don’t give the solution)
o Background story
o Unique mechanism of problem
o Unique mechanism of solution
o Product build up + reveal
o Close
- Stefan’s Subject line matrix categories:
o Promise, problem/dimensionalized, new cause discovered, new mechanism,
well known remedy wrong/bad, well known problem/taboo is really
solution?, dominant emotion, story, conflict controversary conspiracy
challenge shock, problems of normal solution, people, topical, believability,
urgency/scarcity, targeted
- Want to connect? [email protected]
- most of this is focussed on your first upsell, 80% of the money is there
Product
- Most people put up an upsell and then never test a different product
- Getting the right product matters more than anything else
- the right product will have a 20-45% take rate (price affects this) – anything less is a
good sign it’s not the right product
- e.g. customer bought an anti-aging:
o tested:
§ fish oil (9%)
§ probiotic (10%)
§ double size bottle of what they just purchased (43%)
§ ‘look younger’ info product (15%)
o By switching to double size, AOV went up $17.
- Big takeaway: if you don’t have the right product you’re just split testing putting
lipstick on a pig
o You could train Justin in basketball (optimise copy etc) or just bring Lebron
James in (the right product)
Offer
- Client selling free trial supplement subscription offer
- First upsell was another bottle, at the full price (4.95 trial, $49 full price)
- 100+ days to break even
- Changed upsell to ‘another bottle for free, if you buy 4 bottles at the regular price,
and cancel your subscription for you. So you get 6 bottles for the price of 4
- Break even went from 100+ to 16 days
- Case study 3
- Client selling. Weight loss supplement for $40
- Upsell was 3 bottles for $99
- Changed from 3 @ $99, to 5 at $149
- Conversions nearly identical – huge AOV increase just selling more bottles
Price
- Ex 1: F+S DVD in the gun niche (how to build your own guns, rabid buyer market)
- First upsell, $47 monthly newsletter
- Changed to $77/m
- Conversions dropped about 21%, but overall added $4 to his AOV on a F+S offer
(which is a lot), made him breakeven a lot quicker on media spend
- Has not seen a drop in stick rate (4 months into test)
Format:
- Most people assume you don’t have to sell as much on the upsells because they
already bought something, so they use short copy. Huge mistake
- Ex 1: cookbook F+S offer. First upsell was bundle of 3 more cookbooks. Format was a
short 3 minute video with copy underneath
- Changed to 14 minute video with no copy.
- Added $2.40 to AOV on the F+S offer
- AOV went from $16 to 18.40, which made them profitable on day 1.
To sum it up:
Put all your focus on the first upsell until it’s converting at 20-45%.
- Get product right first
- Get the offer right (qty, length, subscription etc)
- Get the price right (test higher prices than. You think)
- Get the format right (longer videos and longer copy)
e.g.
$5 per day – vid 1-5 phase 1 (biggest problems 1-5)
$5 per day - vid 1-3 phase 2 (core pillars 1-3, testimonials)
$5 per day – vid 1-2 phase 3 (solution with CTA)
Instagram stories. Using the Instagram platform to boost the stories – Ad manager vs
Instagram platform – much cheaper on Instagram, but need for tracking
IG story ads to lead magnet funnel – static image ads on stories drastically cheaper on IG
than static images on FB (0.89 vs $3)
Lead ad on FB vs 15 second swipe up ad, lead cost went from $1.6 to $0.8, sales throughout
the funnel stayed consistent. Same audiences, same sales page etc.
Messenger Bots
- Get their email, get them to engage
- Be super creative and test a lot
- If you can’t do them yourself, hire someone to set up a bunch and test
Other stuff:
- Lots of creative retargeting. Ads, segmenting. 3, 7, 14 days etc
- Re-targeting sales page views with. Testimonials and social proof
- Running warm & buyers into a FB group
- Webinar funnels
- Key PR piece to warm traffic (social proof, forever)
- Blog traffic to sales page
- Dynamic ads & lots of testing
Ryan Saplan – email successes from 2018 you should consider for 2019
Rule #1 what did they buy before, that’’s what they will buy again at a high rate. Sell them
that again. Sell your competitors product.
Rule #2 when testing new copy, pick something. That makes you uncomfortable, be non PC
and offensive, then scale it back to what your personal code can tolerate
Rule #3 you need someone to analyse your list every single day, clicks opens and revenue
day to day. You need someone to do this to get the best performance so they can become
one with the list
Rule #4 rank your top 5 emails from the past 60 days. Run them so much they don’t become
your top emails. Burn them out so you can accelerate your earnings. Then do another top 5
in the next 60 days. The more often you do this kind of analysis the better your earnings
Rule #5 your in marketing make big calims*. You can take it to the extreme, people don’t
sell hard enough. Then work really hard to have your product meet the promise. Sell like
your business depends on it. Especially applies to aggressive growth business goals.
Rule #6 building a relationship with your list matters 5-10% of your list. Segment this
differently. The rest don’t care about you and your business as much as you think. Most
people’s attention is fleeing, don’t do them a disservice. Sell them something AND churn
your money out and reinvest to get better customers.
Rule #7 customers buy because they want a problem solved. Often the problem is they’re
bored, overweight, feel lazy.
Rule #8 choose offers, write email creative and sell that push the boundaries. Get
uncomfortable. The best sales people, the #1 sales person in most businesses is shameless.
They close hard and close often.
Rule #9 look at your email stats everyday. Unique clicks/click%, unique opens/open%,
revenue per email/revenue per user, EPC / conversion
Rule #10 know when people pay you. Know the people that turn you into a collection
agency. If you know how an offer performs, you can tailor your calendar to faster cash in the
bank.
- General Trends
o Growing Google and FB dominance
o Mobile traffic dominance, with CPC increase
o Video ads dominance
o Paid media share increase (vs. organic)
§ Paid search results look like organic results)
o CPC growth on FB, and decrease on Google
§ -29% compared to Q4/2017
o Stricter compliance on all major platforms
§ A positive for compliant players
o Improvement in systems automation and optimization capabilities
o Potential in GDN and Youtube usually not fulfilled
o Different funnels are suitable according to level of intent/warmth
o Targeting ability is improving on GDN and YouTube, but still far less than FB
o Combining channels back and forth
- GDN
o Huge inventory, very cold traffic
o Latest developments and trends
§ Search history based targeting (intent)
§ Higher video inventory
§ Smart testing mechanism
§ Creative automation
o Suitable for:
§ Large niches
§ VSL funnels
§ Retargeting
o Our take:
§ Complex to succeed – very cold traffic., many types of bidding, limited
targeting (compared to FB), lots of placements to block
§ Worth the efforts – when working, brings substantial and lasting
results at a low cost
§ Requires a very close relationship with the vendor
§ Effective tool for low-cost retargeting
- Search:
o High intent, expensive clicks
o Latest developments and trends:
§ Search results on top, blended with organic results
§ Page score – high impact on cost
o Suitable for:
§ In theory – everything, in practice, only if you are on top with
conversions and CPA
§ ‘direct to the point’ landers, in-line with the ads and search terms
o Our take:
§ Scale requires combine two approaches
• Strong competition on the leading key-words (like website
builder)
• A long list of ‘long tail’ key-words
§ Find a winning ad then adjust it to different keywords, creative is also
important here
§ Use beta versions to get an edge
§ Test everything
§ Duplicate google campagins to Bing: be careful with Bing partners
- YouTube
o Very large inventory
o Low CPM: short views are free
o Requires careful targeting: could easily lose money
o Suitable for:
§ Large niches
§ Offers with good video assets that perform well on FB
o Our take:
§ Youtube has significantly improved its campaign management system
from 3-5 years ago
§ Use FB video ads with adjustments
§ Cap the spend until good targeting is achieved
§ The CTA should be clear; the ending of the video needs enough time
to react
- Facebook & IG
o Higher intent than GDN and Native due to positive attitude and social proof
o Latest developments:
§ Policy – post purchase surveys, manual inspection, tightening of the
policy
• Low user trust can block account
§ CPM ‘fines’ for bad user experience – landing page and ads
§ More system automation features
§ They don’t want ‘one man show’ – they want legit/bigger companies,
and it’s going to get worse in 2019
o Suitable for:
§ Everything, including smaller niches
o Our take:
§ Highest chances to succeed, the question is at what scale
§ Creative is the main KSF
§ Video usually works better
§ Several funnels for various product qualities and pain points help the
scaling and stabilize the results
o Some people react better to positive angle, some people react better to
negative – make various ads and angles and run at the same time, better
results
- Native:
o Low intent; content orientation
o Latest developments
§ Strict compliance
§ Some system improvements but still a lot of manual optimisation
§ Un-equivalent game terms
o Suitable for:
§ Wide niches
§ Fewer young demographics
o Our take:
§ Policy has become much like FB and google, sometimes stricter
§ Good creative being copied quickly
§ Recommend to work through agency with close ties to the platforms
§ Lowers dependency on FB & Google.