The Unfair Coaching Advantage with Ethan Willis - I Love Marketing Episode #323

Did you know that coaching, yes, coaching can transform the way you do business? Ethan Willis describes this unfair advantage in this episode of I Love Marketing. Ethan has been recognized as winner of the Entrepreneur of the Year award by Ernst and Young. His work in the field of business growth has been published in Time, BusinessWeek, USA Today, Fox News, and others. He's a graduate of Brigham Young University and is an alumni of the Harvard Business School. If you'd like access to the complete presentation, the show notes, the links, and the special resources for this episode, please visit ilovemarketing.com 323. That's ilovemarketing.com 323.

I'm Dean Jackson, He's Joe Polish.

And this is the I Love Marketing podcast.

Okay, so let me ask you this. Why do you think some people have phenomenal content, information content, and it never gets out to the marketplace? Well, some people have not as good content and it's everywhere. What's the difference? In just a quick sentence, why do you think that that is marketing Systems. Systems. What else? Model. Model.

Okay, great.

What else? Execution. Execution. Okay, very good. I think it's a lot of those things. And what I found also is it is model. So let me just give you an example of why coaching is an unfair advantage to information marketers. It's an unfair advantage. In the coaching model ruler, there's three things you need to consider. One is I'm just going to say it's leads. The other thing I'm going to say is sales. And then the third part is I'm going to say coaching and they go hand in hand. And there's more as this flows through. But this is a flow process where they all actually create a model or a platform. And I'm going to show you how. When I started this business at 23 years old, no one would talk to me until all of a sudden, three or four years later, I have Donald Trump Ken Blanchard knocking on my door saying, help me do this. And I'm actually saying, who do I choose from? I never thought I'd be in that type of a situation before. And I think it really comes down to the model not being the bee, but being the flower and creating something that people will come to. So I want to give you just a little sense here. So when you're going out and creating a customer and this is someone who you go out and create a campaign. So this could be a book, this could be an information product. What I've seen is it's around a $39 program that you'll go out and create. You'll create a sales page for it. You'll create a way to capture that customer. So now you have this product and you have this creative, this landing page. It looks beautiful.

And.

And then you take it out with all your hopes and dreams and you go and try and get what customers? Customers. Okay. Or you try and go and get traffic of some sort. Right. And so you go and try and take it out to the marketplace. And how do you get traffic? That was my challenge. So I went and created this program. It's a kid called a $39 offer. And you go out to joint venture partners and you say, hey, will you run my offer for me? And they might say yes. And if they say yes, what do they say to you? How much? How much and how much do you pay them? What's usually the revenue share? 50%, 50%, 30%, whatever it might be. So you get some lumpy traffic. And I've never been a fan of the launch models. I think they're too lumpy to create a consistent business on. It's kind of what has been my focus is because you have an up and down and you can't feed a sales team and you can't feed your coaches consistency. You have a promotion and not a business. And so one of the things that we've done is when I really had a huge growth is I took out the offer to cost per acquisition channels. So career builders of the world, yahoos of the world, they all have remnant traffic that they're not using. And they're just wanting good, compelling offers to go to collect money from their traffic, to get clicks from the traffic. Everybody has them. So when I started this out, I said, okay, I'm gonna go and will you run my offer? And they said, what are you gonna pay me 50%? They're like, maybe. And had this aha. I said, well, what if I paid you all of it? I said, all the $39? I'm like, yeah, I'll pay you all of that $300. He said, yeah, let's do it. Let's take it to take it to our list. Took it to their list. I hope to maybe get 30 orders maybe if I was lucky. I opened up my merchant account the next day and I had over 900 orders in my inbox from this. And I said, well, how do I go get more traffic? And so I went out and I actually started to decide to maybe even lose money. Sometimes I would pay up to $40 or $50 because I knew that that lead was worth to me automatically, consistently, every single time. Predictably, I knew that that lead was worth to me $250 per buyer. And I knew that because total revenue, total coaching revenue divided by the leads it took to get that revenue. You can look at that a lot of different ways. You can look at conversion rate and an average sales price, but basically. So if you have 1,000 leads, you create and you should create a $250 per lead, you should create how much revenue? $250,000 consistently. And that's how you get to 1.5 million in sales. That's how you do 50 to $70 million a year is you stack it. So then you go out and you say, okay, well, how do I go get more traffic as you raise this dollar pleat up? And there's a whole other training I could do on how you qualify this lead, because there's a number of things that you can do to raise that dollar per lead. I'll just give you a quick example of that. So if someone spends $39 for your program, that lead is worth $250. Now what happens if you get that person to bump, meaning after they buy? You say people who like this also like this program. And by the way, I always do 50% of the initial price is what I do for the bump. So for example, 39 do tested over and over and over again that I'm going to raise that by $20 more. So it's a $60 offer. 33% of your people will buy that depending on the traffic. That's about what you do. But this is the powerful thing about it that people don't understand. This is the hidden unfair advantage is when they buy that bump, that lead is now worth to you double. It's worth $500. So this is the game. This is the thing we started figuring out. And actually we have a patent, a US Patent for this business process is then the next step you take them is you have them fill out a. We call those buyer bump consultations. That lead now is worth $750. Then we had another step on top of that, which was have them attend a webinar or conference of some sort. All of a sudden, a dollar per lead went to $1,000. Then what if they called into you as opposed to calling outbound to them? That's now worth to you. Not just another $250. That doubles your dollar per lead. So you get $2,000. Every person that buys $39. Now process that for a second, because what does that allow you to do now with your media? Spend more money. Bingo. Yeah. So how is it that this skinny kid that doesn't have a lot of talent or ability from pasadena can get 75,000 visitors to our best day? Almost 400,000. 400,000. And Mike understands the impact of that thousand visitors a day to my website. So I got career builder, Yahoo, Hotmail, all these people with remnant traffic, all they care about is CPC cost per click, all they want is epc. What's my effective, how much can I get per if I have a database? Every time they click on Ethan's offer, how much am I making on that? If you can get their basically value per person in their database up and they are all over you and then so basically then you move to this next model. So you got the leads, the cells, and now you're seeking grow this. So now if you grow this, what if you wanted to lose 40? If you're doing 2,000 over here, you do that all day long.

I just want to make sure. So you're going from leave to whatever the low end offer is to an increased price upsell, which means you've got double the value Y And then from that point is when you give them the coaching opportunity.

Yes. Okay.

Basically sale upsell coaching.

Yes. Or the consultation. Or the consultation. So bump, bump, bump coaching. Yes. And there's a whole new other training I could do which is basically what I call my slide, which is a lot of people, you know, if you've been on a really high slide before or your kids going those high versus the small slides, the higher the steps you can make them go up on your slide, the quicker the conversion to a higher ticket item. And so some people think, oh well, I remember, I first thought exactly. If you take them up that slide by a buyer, then a consultation, then a call in, then a webinar, all those types of things before you give them to a salesperson that's powerful. And a lot of people don't even understand the combination between there's a difference between marketing and sales and the better you market, the less you have to sell. When you end up having a boiler room situation, if you look at a two by two looking at just a quadrant and saying if you're very highly capable at marketing or very highly capable at sales, but very low capable at marketing and that salesperson is getting on the phone without any warm up, that's when you get boiler room issues. If your high capability is on sales and your high capabilities on marketing and Both of those are high capabilities. And you've gone up the slide. You've built like Dean has talked about because you build a relationship with them because they're buying and don't. You can't take them off the slide. Sometimes people say, oh, I'm going to sell this program about how to make yourself more productive. And then they grab another product off the shelf saying, hey, this one will be work as an upsell. Sold like crazy. I'm going to put this one in the funnel. But it's about managing your money or whatever it might be. You got them off the slide. A slide is narrow and it's specific and trust is built when you are true to your message. If you showed up to a movie that was a comedy and they show you a drama, the trust is gone. So you're staying consistent on that slide. So then your dollar feed is continuing to grow. You can get as much traffic as you want out in the marketplace. And I'm convinced this works for everything. I'm convinced this model doesn't just work for information products. I think it works for many different products and systems. To say there's an additional sales program from a qualified lead that then goes to coaching. So ultimately then you have the coaching side where we have many coaches that are trained and certified on this expert's content. So the coaches are the ones doing the training. I only pay them on a per session basis. And the ones that get better results get more students. So let me just kind of tie this all together here. So as you can see here, this is a platform. Amazon is a platform. They're all platforms. And billion dollar businesses I believe are built on platforms. And so this is why I can go and scale this. I can skin your process front to back, give me your message, give me your content, give me your books. I'll create a coaching program. I'll create a sales scripting around it. I'll create a front end lead acquisition. You just be you. I'm going to multiply, you build your database and you just pay me a royalty back here for getting you more clients than you've ever had before. And that's the coaching unfair advantage.

Thanks for listening to this episode of I Love Marketing. If you'd like to learn more about the Genius Network annual event, please visit geniusnetworkevents.com that's geniusnetworkevents dot com if you would like access to the complete presentation, the show notes, the links and the special resources for this episode, please visit ilovemarketing.com 323 that's ilovemarketing.com 323.

Sam.