You Don’t Have a Lead Problem. You Have a Traffic Problem | Ep 954

Welcome back to the game. In this episode, you're gonna hear two conversations. The first is with a sexual health medical practice. They're currently doing $3.8 million and want to get to $10 million in revenue. Here's what we broke down on this call. Number one, how to fix the traffic problem that was exposed when they added friction to the funnel, which is one of our first pieces of advice. Second, we unpack the easiest and fastest ways to figure out which content attracts the buyers, not just viewers, so you can create the same content that produces the highest quality leads. Now, the second company is a data consulting firm that does about $500,000 and wants to get to $1.2 million in revenue per year. Their biggest constraint was lead flow and pricing strategy. So we walk through number one, a new lead magnet and content strategy to attract enterprise buyers on LinkedIn. And then number two, how to pivot from hourly billing to charging based on ROI that the customer is getting so they can actually double revenue of the business without adding any more customers. I hope this is super valuable for you. Enjoy.

Hi. Hi, Alex. My name is Dr. Anne Truong. And so I'm a medical doctor with specialized in sexual health. And currently we're at $3.8 million, would like to get to $10 million or more a year. And so what is stopping us is that we— I use your AI.

Okay.

And it says that we don't have a traffic problem because all my traffic comes from YouTube. It's really more of acquisition problem.

Okay.

And so after talking to you a few months ago, we started putting in in our application, so we have a funnel that has an application with questions that qualify and disqualify, and then through a calendar would then schedule with our sales team. Okay. So what happened was that we ended up getting a lot of disqualified, disqualified applicants, which we then downsell supplements for and our online coaching program.

Okay.

But that doesn't make as much money as our in-office treatment, from $15,000 to $20,000 as well, which we really want to focus on. So the question is, are we doing something wrong in that application process? How can we get more qualified high-ticket applicants to the sales call?

Okay, two things.

So we— what we had trouble in the past was that we had too many in the sales call that weren't qualified. Now we don't have enough, and —You know, how do we do that?

—You're saying you don't have enough? So you added friction and you got, and you have disqualified people who are booking. Did the percentage of qualified people go up when you added friction or down? Oh no, go down. The percentage went down? So you got more unqualified people by adding friction to your process? Yes. That makes no sense.

Yeah, well, we just put in filters that's like, as you know, this is not insurance covered, you know, this is the price. And they click no, would mean that they don't wanna move forward. So that would disqualify. That was the only two disqualifiers we had, that was it.

But those people got disqualified, so you didn't have to talk to them.

Well, they get disqualified, they don't get to the, they don't see the calendar to schedule with our sales team.

That's good, right? That means the percentage of qualified on the calendar went up, right?

Well, You know, compared— no, not necessarily. Uh, how?

Hold on, hold on. What are we talking about? No, no, listen to me, listen to me, listen to me. How is that possible? If you say there's 100 people, half of them are disqualified, they hit the disqualified button, then half of them that come through are not disqualified anymore, that means the percentage goes up. I want to make sure we're talking about reality here. Like, are we on the same page? Percentage went up, not absolute percentage. Yes, I want to help. You're just making my job hard. So percentage went up, correct? Yeah. Okay, percentage went up. So are we saying that the absolute amount went down? Yes. Great. Now of the people that did show up to the call, were they more qualified than before?

Well, you know, our close rate were better.

Okay, so the quality went up. Yes. Okay, so the reason I'm orienting you is so that we can actually solve the input/output problem. So you had too much flow, we added friction that increased the quality of the throughput, but then it decreased the amount. Which means mission accomplished. The next thing we have to do is drive more in the front end so that we can have a higher absolute amount of throughput that's all quality, right? Yes, that makes sense. Okay, two options. You can do 'em both. Option number one is that the type of content that you're making needs to cater, better cater to the avatar that you're looking for. Mm.

How do I know that?

How do I find that out? Well, one, the easiest thing you can do right now is email all of your existing customers and give them some sort of prize, some sort of giveaway, something to get them to respond and say, "Hey, what piece of content did you come in on?" Or what type of content, if that's easier. And you can have probably 4 or 5 buckets of content that you currently make, and they will tell you which one it was. On the sales call, you can also add a question, "What type or what video got you here?" 'Cause that'll start orienting what type of thing. Now you're also in person, so like when I ask people who show up at a workshop here in person, I say, hey, what type of content do you like? If I say, hey, do you like a brutally honest video that's about mindset, things like that? There's a certain percentage that are there. But if I say, hey, do you like the Cash Guts video where I do a breakdown of the businesses? The entire room's hands raise. And that's a room where the average person's doing $4 million a year. Those videos do less views than me talking about general mindset stuff, 'cause it's just a smaller audience. Gotcha.

I know what they're talking about. Yeah.

Okay. So number one— Email the list. Yes. Got it. To figure out what type of content translates to quality, not quantity. Quality. Okay? Okay. That's thing one. Mm-hmm. And then thing two, and you're YouTube, mostly YouTube, correct? Yes. Okay, got it. You're, how big's the following you have on YouTube? 150,000. Okay. It's probably big enough. Have you run Meta ads before? Uh, we did.

Uh, we ran Meta ads and the applicants weren't qualified. So we kind of stopped doing that. We're, we're trying to do a YouTube retargeting, uh, ads to the people that watch my video. And then we got shut down by Google in 3 days.

Cause it was sex, cause it was sex related, right? Yeah. Yeah. So I think that if you audit your page to make sure that it's compliant, and try and relaunch it, that's probably a good idea. The retargeting is gonna be kind of the low-hanging fruit 'cause these are people who already clicked over there, and so that's just gonna nudge them along the funnel. But the real unlock for you is going to be paid ads on either Meta or YouTube or both. I think that Meta will be easier for you to crack even though you have a YouTube audience because those people also have Instagram and Facebook accounts. And I'm gonna bet that when you ran the Meta ads before, was that before you did this process of adding friction? Yes. Right. Mm-hmm. So it makes sense. So you ran, you ran basically open targeting to something that had no, had no funnel for friction. We now have fixed the sales process. So we fixed that problem. Now we have to fix the traffic problem. So we're gonna increase the quality of the traffic with the type of content you're making, and we're gonna increase the quantity of traffic by soliciting the audience more times and more places by running ads on Meta and YouTube and running them through our now better converting process by percentage.

Okay, so you feel that Meta is appropriate? Yeah, 100%.

People who are there, well, I think it'll be easier. Meta is just, I would say, is easier for people to crack when they're starting.

Okay, got it. Yeah.

And then run them through the same funnel. I'll definitely try it. And let me tell you the type of content that you should use. So do you make Shorts? Uh-huh. Okay. Find the Shorts that are save-worthy rather than share-worthy. All right, so the type of things that are like lists of processes and steps, stuff where you really teach stuff, that did medium well, those are typically going to be the ones that have the highest purchase intent. Do you have an Instagram?

Yes, we do.

Do you make, do you post your Reels there?

It's really repurpose. Yeah, that's fine. That's fine. My long-form content to Instagram.

That's fine. That's fine. I want you to look at the last year, look at the one that has the highest saves to likes percentage. So the most saves and run the top 10% of those as ads on Meta and then direct them down the funnel that we just fixed. And if you want, do people fly in for your services or no? Uh-huh. Okay, then fine, you can run it national.

Yeah, they, they come from all over.

Great, then yeah, you can run it as a national play. Yeah, yep, run as a national play. Okay, great. Yeah, we fixed one problem, which now we have the next one. Yeah, perfect, you got this.

Thank you so much.

You bet. All right, we'll talk soon. Good luck. I'll see you on the inside of the group. All right. That's it. All right. Let's roll. Rock hard. Pun intended. Woo! We had to get there. We had to get there. All right. Caller. What's your revenue?

This is Reeds.

Am I up? Reeds, you're up, man. Give me the rev, the rev, the prob, and the business.

Already, we are a data consulting company that sells services. We do about $500K. I'd like to get to $1.2 million. Okay. Our biggest issue is leads, leads, and leads, and then making them, you know, see the message and reflect at a business problem that they recognize.

Okay, how are you getting leads right now?

It's been 99% referral till about It's still 99% referral, but I have now turned on— I'm doing content on LinkedIn, I'm doing LinkedIn ads, um, I'm doing a cold email that I'm trying to start. It's not started, but I'm trying to do that as well. So right now, for the last 12 years, I've run my company off referrals. Yeah, I haven't really sold anything. So my question is, is really around the best way to generate leads from a tech source that The message is really hard. I mean, selling data services, no one thinks they need it. Everyone thinks they need AI now. Luckily, I think a couple webinars ago, you had said, somebody asked you a question about AI and you said you need a good—

You need a data infrastructure. Yes. You were like, can I clip that? And we were like, no, you can't. Yes. Okay, so what size companies are you selling?

I'm trying to do mid-tier, around 500 people. I've worked for— It's all enterprise. So it's all enterprise. Enterprise, but it's so hard to actually make a difference there. There's so much overhead and trouble. And trouble.

Okay, got it. So functionally, what is the dollars and cents output of what you do? Like, I pay you money, what money do I get back, and how do I make it back?

Some of the stuff like we can help you with cloud, reduce your cloud costs so you can reduce costs. That can be pretty great. But I mean, it can be from, I don't know, $10,000 to a couple hundred thousand. I mean, if you're turning your systems around, what would it be? Say that again?

How do you charge? Hourly. Hourly? Hourly consultants. Oh, oh, oh, oh dear me, my God. Let's just get you to 1.2 million and get you no more customers and just change how you bill.

How about that? I could handle that.

Okay, so a couple things. So number one, I think you making content on LinkedIn is a good idea. I think that you should talk, like data no one cares about. I mean, yes, people care about it, but no one's like waking up in the morning being like, ah, give me my data. I mean, I'm that way, but you know, I'm an oddball. What we want to talk about is the benefit of data, right? We don't want to talk about the plane flight, we want to talk about the vacation. We talk about Maui, not how we're going to get there. The TSA checking our bags, taking our shoes off, that's the data. What the data gets us is what we got to talk about. So your content needs to be taught, like what you should be doing in your content is the demonstration of what occurs as a result of your services.

And, and that's where a lot of the content is around ROI. Uh-huh. So I'm trying to drive that because For the longest time I targeted tech people, but tech people never have buying power. So it was always impossible to go. So now I'm trying to talk at a higher level of return on investment because so many people do so much tech stuff that just doesn't provide any value to the business because they don't think they have to, the tech side. That's why I'm trying to not talk to those guys.

Yeah, so ROI content, number one. I think that you should have CTAs in the content that generate, inquiries that should get people to— like, do you give away a widget or an assessment of any kind on the website?

I'm trying to do a data ROI, um, meeting so I can kind of give you that kind of information.

Let me give you a really sexy thing. Let me give you a really sexy thing. Uh, I want you to give away 5— oh yeah, no, this is gonna be sexy. I want you to give 5 one-on-one calls away for free as the offer. Okay. Now there's an asterisk there that it's only for companies that meet your criteria. Okay. And you probably have to take those calls anyways for a qualified lead, but the fact that, the thing is, is like for you to have a very high-value lead magnet, I think so many of these are gonna be so specific to the tech stack they're using and all the other nonsense that we have to come up with something that people can appreciate as valuable. And so we say, hey, I'm gonna give away 5 one-on-one calls. Everyone understands that 5 hours or 5 30-minute sessions is value. Like even at the most basic manual labor level, there's value there that someone can get. And so I think the CTA of that will be a great way, 'cause then it'll give you 5 conversations, you can tie in multiple stakeholders, and you can actually look at an enterprise-style sale, and it all works. All you have to do is set the frame at the beginning of this. Just like, hey, to be clear, are you good with me as we walk through these 5 calls? At the end of the 5th call, I'll explain kind of how what working with us might look like. In the meantime, I want to just provide you a lot of value. They're gonna say yes, and it's great, and that sets up the conversation so that you can break their beliefs around it. The big step here is that we want to take those calls to talk about what is going to happen, not how to do what is going to happen. Do you get the difference? Ooh, yes, yes. Right, exactly. We're gonna describe it, not explain it. And that's how you reset beliefs. That's how you get people excited about what's gonna happen. As soon as you get into like, we're gonna click here, then we're gonna, they're gone. They don't give a shit, right? So number one.

I've got that with my LinkedIn ads.

Yeah, so number one, ROI content, CTA is 5 one-on-one calls, asterisk, only for people who qualify. The second thing is that I think your offer needs to be around the ROI and you need to use something called a calculator close. So Calculator Close basically says here's all the things that you're currently doing, which you can do at the end of the 5 one-on-ones, and say based on the whole assessment that I have, here's all the areas that you're losing money or that you could have efficiency. This is what I expect you to make. You add it all together and say it's $200,000 is the savings/improvements in efficiency and effectiveness, whatever, right? So $200,000. The max that you can charge when you make any kind of result-based service is 30%. And so if you say, hey, I'm going to save you $200 grand, I charge 30% of what I save. So it's $60,000. But that way you're charging for outcomes, not hours. Okay. And that'll break it. And that's what's going to allow you to really— I mean, that alone might triple or quadruple your income independent of the ROI stuff. Those would be the two next steps that I would do.

Okay. Thank you. You bet. Thank you, man.

Congratulations on the business.

This has been very, very, very helpful. I really appreciate it. Thank you. You bet.

Thank you for being part of the group.