Mon, 9 May 2016
Hey hey! Welcome to episode 186 of Life on Fire. One thing all entrepreneurs do is look for ways to grow their business. What if you could find seven strategies that 7-figure earners have used to 10x their business? In today’s episode that’s exactly what you will hear!
My good friend is business coach Suzanne Evans and she recently hosted an invite-only mastermind event. The people at this event had to be earning a minimum of 7-figures in their businesses with events as their primary focus.
While at the event attendees were seated in groups and each group had to choose the best strategy from their participants. The chosen strategy was shared with the entire audience and you’ll hear seven of those on this episode. You’ll hear everything from teleseminars to beta testing to bring a friend contests, and each strategy is explained in detail.
In this episode you’ll hear:
The first technique we’ll cover is the teleseminar. This group used a teleseminar as a way to introduce people to their live events. They kept the strategy simple: 5 days with 2 hours of content a day for a flat fee of $500.
This gives people a preview of what the live event will be like without requiring much effort on the part of the participant; they simply have to pick up the phone from the comfort of their home. The people who used this strategy believe that is one of the reasons it works: it is simple, easy and uncomplicated.
Using this method they estimate they have generated $25 million in sales! They also don’t have cancellations or chargebacks, and their upgrade percentages are much higher than they were when using Skype.
Another strategy discussed today is when to make the offer during your event. One group voted this strategy as the best from their table: open your event with the offer! Sound crazy? Maybe, but it worked.
Although she didn’t give specifics, the woman behind this idea said their company had their highest conversions ever when they opened the event with their sales offer. They also had their highest caliber group of people ever. And this group signed up, committed and gave deposits during the event.
She attributes the success of opening with an offer to several things: it takes the pressure off because the offer has been made (and people aren’t wondering when it’s coming like they would normally). Also everyone feels they can be authentic, they could have genuine conversations because the proverbial cat was out of the bag. It created an environment of authenticity and connection, and that in turn created more sales from people who genuinely wanted to participate.
Another intriguing strategy discussed is the beta test. In essence a beta test is a trial run of a new product or service you want to offer. In exchange for your participants’ feedback and involvement in the testing of your product or service, they pay a reduced fee for whatever it is you are selling.
The beauty of the beta testing is you are expected to screw up! Your audience doesn’t expect everything to work perfectly, and they are expected to let you know when it doesn’t. You learn what works, what doesn’t and what could be improved. They gain valuable lessons and information, at a reduced rate.
Very important is the fact that you also gain case studies, cash and curriculum. Once you run the beta test you have case studies for your live event. You should generate cash from the sales of the beta test, cash you can put into your live events. You also have a buttoned up curriculum that has proven to be successful when your case studies used it. Those 3 Cs: case studies, cash and curriculum, are the basis for a solid live event.
In addition to those three strategies there are four more on episode 186. Get ready to take some notes, take action on these proven techniques and start truly living your life on fire.