#198 - The secret to 6-figures offers

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Guys, it is Kate here from hello funnels and welcome back to the Doing It Online podcast. Now today we are going to be diving into yet another one of my favorite topics and that is we are going to be talking about offers. More importantly, the oh so coveted six figure offers and what you need to do and not do to make sure that the offers that you're creating that you're putting out into the world are going to help you to hit your six figures figure goals. So you ready? Let's dive right on in.

Okay guys, so like I said, today we are deep diving on six figure offers. And I really wanted to start off with a little bit of the what not to do and the really common problems that I see and the things that are really keeping people stuck and under earning and just working way too hard and not getting the traction that they should be getting for the amount of effort and love and heart that they're putting into their businesses. So there are three things that I see people really get stuck on. First one is when you're a coach, consultant, a service provider and you are only providing one to one type offers. So whether that is, you know, one to one coaching, one to one consulting, or even that one to one, like doing it for them, like done for you type of offers. So offers where every time you sell 10 offers, you have to deliver 10x the amount of whatever it is on the delivery side of things. So it means that eventually you are going to hit a ceiling where you cannot earn more because you just don't have enough hours in the day. And traditionally what I see happens here is yes, obviously you can be increasing your prices over time, but that still doesn't really free you up. You're still going to be whacking your head on this really frustrating ceiling. And normally this puts people into a bit of a feast and famine cycle where you've got way too many clients or you're completely booked out and so you've got no time, effort, energy, resources to be putting into any other parts of your business. All you're doing is serving your clients and then one by one some of these clients drop off and then all of a sudden you don't have enough clients. And because you haven't been sort of building a pipeline and growing your list and you know, doing all these other things you know, you should be doing, you know, then it's a bit of a scramble, it's a bit of a struggle. Then you go out there and you hustle, hustle, hustle, and then you get a bunch of clients and then you're fully booked and then the cycle repeats itself. So that's, you know, mistake number one, only relying on one to one. So when you kind of have hit that point, we're like, all right, this sucks. What else is there? That's when people traditionally start looking at doing something a bit more leveraged. And that's when they start looking at playing with or experimenting with online programs and courses. And this is where you go from doing that one to one to be able to do one to many. So what that means is that you're able to serve many people in the same amount of time as you would be serving one person, or that you're going to be able to, you know, do one or two live calls in a group forum. Maybe you have a Facebook group that you're answering questions and you sit down and you've, you've pre recorded your, you know, your content. So that's sort of done once and used over and over again. And this means that, you know, whether you have two clients or 20 clients or 50 clients inside your program, usually the time commitment from you doesn't grow that much. Like it'll jump up a little bit with, you know, with answering questions, but not crazy. It's not like having 51 hour calls in your calendar every week. So this is, I know, a really, really desirable thing for people. And what a lot of people do is they go all in then on the courses and some of them might just skip past the one on ones altogether and go, I'm going to go all in on courses because I want to have that time freedom. I want to have what all these people on the Internet are yelling about. Like, you know, I want to be able to wake up in the morning and do whatever I want. And having a leveraged offer, a way to deliver, you know, to many people with a small amount of time is absolutely how you do that. The problem with relying only on courses is that usually if you are not at six figures already, if you are still in that lower earning sort of tiers, then you probably don't have a huge list and you probably don't have a huge team and you probably don't have a lot of experience yet with marketing. And to be able to go and fill an online program consistently and reliably again and again and again requires all of those things. Like you can usually get by with having a smaller list and doing it yourself when you're keeping things simpler and when you're not putting your entire budget, your entire earnings for the year and not relying on one single thing. So then that's where people start to get in trouble with the just relying on courses is they realize just how many people they need on their list, just how much work it takes. And again, because it's sort of all kind of a bit impossible to do all these things all at once, all at the start, they end up getting stuck. So then there's a third mistake I see people making and that's people again at this sort of entry starting point of business, getting really fixated on being able to make millions by selling low ticket programs. Now again, I have nothing against low ticket programs, I have nothing against online programs, I have nothing against one on one offers. But it's more when people get really fixated on it and go all in. And when you are at this stage of business, that's kind of all you can do. Like you can either go all in on one thing, cause it's pretty much what you've got the capacity for, or you're just spreading yourself really thin over a bunch of stuff and not doing any of them well. So when people go all in again, they're like, I think that having something really cheap and selling it, it definitely is going to be easier. And because it's so cheap, I'm going to be able to just sell so many of them. And this is the belief, and this is, and it's not helped by a lot of people saying stuff on the Internet like, oh yeah, it's just definitely so easy to sell stuff that's super cheap. But you've got to stop and do the back of napkin calculations here because again, if you're wanting to hit 10k months and you're selling something that say for easy maths, $10, you're needing to sell a thousand of them. And even if you were amazing at converting, and you converted 10% of your audience every time to your offer, that means you would need 10,000 people, most likely new people onto your list every single month. And that's not an easy thing to do. And the other belief which is incorrect about selling low ticket offers is that it's easier. And while yes, you don't have to be as good at marketing to sell something that is cheaper, there is still the same amount of effort that goes into it. You still have to create a sales page, you still have to create the offer, you still have to set up the tech things and the zaps, and you still have to be able to deliver it, you still have to do the customer service and often on a much higher scale. So again, people find who go, this is going to be my answer. Going all in on low ticket. This is what I'm going to do. It's going to get me to six figures. They often get stuck because they just can't get in front of enough people. So what is the solution? Well, personally, and I say this from myself, having started multiple businesses, you know, from scratch and be able to get to 10 figures really quite quickly. 10 figures, oh my gosh. Get to 10k months, six figures, sorry, uh, really quite quickly. And also being able to help my clients and observe what clients are doing. I've noticed that there is definitely a bit of a trend around those who are able to hit those six figure benchmarks, those 10k plus months and do it much faster and much more consistently as well. And these people have not one amazing offer, not 55 different courses, not a whole bunch of small, of low ticket. What they actually have is, is a really concise, really deliberate six figure offer suite. And they may not have actually realized that when they were creating it, but this office suite consists of three things. So the first thing it consists of, and I think this is really important, if you are not consistently hitting 10k plus months and you're just getting started and you've got a smaller list, the first thing that you absolutely have to have is you do have to have some one to one, but it has to be a premium one to one. I don't want you going out there selling your time for 50 doll an hour. That's never going to get you where you want to be, you know, you may as well go back and work for someone else at those rates. So what you need to do is come up with a premium package. So rather than saying, okay, this is my hourly rate, book me for an hour here or an hour there or ad hoc, what you need to do is think of an outcome, think of a solution, think of something that you're going to help your clients achieve and put together a package around that. So maybe it might be a VIP date, maybe, maybe, you know, still might just be 10 coaching sessions, but over those 10 coaching sessions you're going to help them get from A to B to C. And so that way you can say, hey, this is what I'm providing with this package, with this offer is that you're going to get this outcome you're going to get to see. And that all of a sudden becomes a much more desirable thing than hey, do you want 10 hours of my time? I'm $50 an hour. So that's it. First thing you need, you need a premium one to one offer. And then you might be thinking, oh, hang on a second, why do I need that? Like if I've got a really great course and selling, like, why do I still need it? Well, there's two reasons. One is that one to one is literally the best market research you will ever do. And skipping past this stage just because you want to get straight to the automated life is really doing yourself and your customers a disservice. It's so amazing anytime you can spend actual one on one time with your clients or even in small group settings, but in this instance, one on one because you actually get to hear exactly what they say, you get to take them through your offer, take them through your system and you get to see where are the bits they get stuck, where are the bits people keep coming back to, what can I refine? And it's going to help to make you a better either educator or coach. It's going to help you better to refine your actual delivery, your actual offer. Plus it's going to give you absolute marketing gold for when you go out and you start selling your other programs. The other thing that I absolutely love about having a one on one package at this phase of business is because it's usually the one where you only need a couple of them a month. They're quite easy to sell and it's the one that's most compatible with what is most likely the size of your current list. Because quite often with these kind of offers, word of mouth is going to be how you make most of your sales. You don't need to have thousands and thousands on your list to have a consistent stream of clients. You can open your doors and say, hey, I've got three spots and they can be snapped up like that if you've got a really compelling offer. That's, you know, why I think it's absolutely non negotiable that at this stage of business it doesn't have to be forever. But in this stage of business, if you want to get consistent revenue, if you're wanting to get, you know, the biggest bang for your buck, you do need to have a premium package. And the goal really here is to get you a good just a layer of revenue that's consistent, that's reliable, that's worthwhile. That means that you're easily able to sell it, easily able to fill up your books without requiring a big huge list. So that's goal number one. Number Two is you're going to have an online program. And that online program is going to be priced between 300 and $1,000. It's going to be something that's a bit more DIY style, so it doesn't require too much of your time to deliver it once you've created it in the first place. And you're going to live launch it two to four times per year. Why do it this way? Why not go straight to trying to set up an online funnel? Lots of reasons. But number one is you're probably not quite ready for that yet. And number two is you probably don't have the velocity of new leads on your list of new people following you to make that really worthwhile. So by having only a program that's only open a couple of times throughout the year, it means that you've got really good, really strong deadlines, which again, again means you don't have to be the most amazing marketer in the world to be able to fill spaces. Because just naturally, by the fact that people can only get in a couple of times a year, it becomes more desirable and it gives people a reason to act. And by doing these couple of live launches a year, and yes, they need to be the right type of live launches, we don't want you spending months and months setting these things up and running them. But that's another story for another day. There's three types of live launches that I recommend again for people in this phase of business. But by doing these two, three times per year again, it helps you to test things in real time, see how people react, start building your marketing skills and marketing chops, and that's all going to help you to grow even faster at the next level. Okay, final piece of the puzzle. The final thing that makes up your six figure offer suite is you need also a low ticket offer. Now, before you all start panicking going, oh my gosh, I have to go away and create three things. First of all, deep breath. Number one, creating a premium one on one. And most of you are already doing one on one. You're just going to sit down and zhuzh it, give it a bit of package, maybe tweak your pricing. So nothing too scary there. Number two, yes, creating a signature program is a bit of a larger undertaking, but again, it can be done in a really doable way. You can probably get that done in say four to eight weeks, end to end, including launching it, selling it, delivering it. So yes, it's a bigger project for the year, but it's not the End of the world and the low ticket offer that can be done this week like that something is so simple. So the reason that I love a low ticket offer here and it's actually got very little to do with revenue, but it does serve some other purposes which I think are so, so important for this phase of your business. So first of all, it's something that because of its lower ticket status, it is, yes, something that is a bit easier to sell and that again gives you a bit more practice. So for those of you who haven't yet sold anything online, anything virtually or, you know, you've been doing everything manually with your one on one clients, this is a really good place to start to dip your toe, to learn how to actually take payments and how to automate emails and how to set everything up and do it in a way that if you stuff it up, it's not the end of the world because people haven't paid you thousands of dollars, they've maybe paid you $50 or $20 or whatever. The other thing that I really love about a low ticket offer as part of this offer suite is that it gives your list and the people who are coming into your world a chance to taste test. So if, for example, you don't have your online program yet and it's on the to do list for some time in the next couple of months and all you're offering is your new premium package, some people are kind of like, well before I make this bigger investment, I need to know a bit more, I need to have it more trust. I need to, you know, take a little first step. So this is a great first step and it can be literally created and set up this week. It doesn't have to be something crazy. And the third thing that I love about having a low ticket offer as part of this offer suite is that you can put it in to a really simple funnel and it's going to start to show you just how powerful funnels and automations are in your business. And it's something that you're going to start seeing, you know, a little trickle of sales here, trickle of sales there that will grow and grow as you grow. There's a few more advanced tactics that you know, we share inside our program about how you can use those sales to grow even faster. But it starts to kind of plant the seed and the foundation for how you want to go forward in your business. And if you plan on having, you know, a multiple six, seven figure business that is done mostly automated, then getting started earlier with the automations just makes sense. And the kind of automation you need for this lower ticket offer is a much simpler one, is a much faster one to set up. So it's something you can again set up in a couple of, couple of hours, really set it up, get it running and then just start to see those benefits and see those benefits build and grow as you grow. Now of course that is all well and good. Having an amazing six figure office suite like you tick all those three boxes, yes, you know you do this right is going to help you to hit those 10k months and well beyond. When combined with obviously the right types of launches, the right types of list building and all of this as well has to be, you know, suitable for these beginner, earlier stages of business. These two things that you can do when you're doing everything yourself, when you are not a master marketer, when you do not have big ads, budget or a big following. And if you want to dive more into that, you can come and check out our brand new free Masterclass, it's called hello 10K. And as well as going through in a bit more detail how to create your six figure office suite, we also dive into the list building, into the launches and into that mini funnel that you need and that you can actually set up with your lower ticket offer. So if you want to check that out, just head to my HelloFunnels Co hello 10k, all one word but the link is also going to be below because I know it's a little bit of a mouthful. Jump in there we go through it step by step. So guys, I hope that has been useful for you. I hope that if you've been listening to this and you are sort of, you know, under that 10k mark and you know, aiming to be hitting that this year, it's almost on your vision board that it's made it kind of clear like where perhaps you need to be adding an offer or simplifying some offers or just cleaning some things up so that you can move forward in the way that makes absolutely the most sense for where you are in business right now. So you can move forward easier, faster and less stressful. And that is what we're all about here at hello Funnels. So I hope you've loved this guys, if you have make sure that you follow, you subscribe, you like depending on where you're watching this. And we would love, love, love if you could pass this on to anyone else you think would get something out of this episode. Otherwise guys, have an amazing, amazing week and I will see you all back here, same time, same place, for another episode of doing online. See you then.