2:25 The questions Emily’s been getting recently about business during the recession
4:27 Exciting announcement from Emily that helps you create a cash infusion in your business
8:30 The biggest indication that your offer needs to be refreshed
10:27 Why price is not your problem, and lowering it won’t help
12:50 Key questions to ask yourself when you’re stuck on your offer
14:10 A mindset shift that will help you create better offers to fuel your business
17:50 The catch behind creating a new offer
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READ THE EPISODE TRANSCRIPT
You are listening to the Not For Lazy Marketers Podcast, Episode #415.
Hello, my friends. Welcome back to the podcast. I flew to Boston this week. My director of the ads team lives here. So we decided we wanted to do in-person quarterly planning this year. We did it last quarter a little late, and then are doing it again this quarter, which is crazy that we’re about to go into a new quarter. Having a remote team, it’s like a balance of, do you invest in creating those in-person opportunities and how many people and how often? And so I’ve done an all-team retreat about three years back, and that was quite expensive. It was worth it, but it was a lot.
And so I kind of have decided I like to do specific targeted in-person things, such as planning. Or a month or two months ago we did an offsite where we just got a ton done. We did training, SOPs, the things that you can’t get done in the day-to-day because there’s just never enough time. It’s been really powerful. So there is for sure something about still being able to be in person, even with a remote team. And it’s such a balancing act. Sometimes I do wish we were all together and in an office. I think there’s definitely some pros to that, but the cons I feel like outweigh having a remote team.
So, all right, you guys, today’s episode is coming to you because I’ve gotten a couple maybe 5 to 7 questions that are like all this. It’s stemming from some of my most recent content where I’m talking about the need to pivot and the need to create a cash infusion in your business. Potentially, that could be creating a new offer or changing your existing offer. And some of you guys have messaged me and are like, “But Emily, you say one offer until a million dollars. And so how do you know when it’s time to
create a new offer? What offer do I start with?” And creating those questions that are coming from you guys around this. So I wanted to address it on here and kind of answer your questions on that because I think we’re in a little bit of a different time in where you have to look at kind of the “rules” a little bit differently.
And also you guys, sometimes I shift my strategies and rules based off of what’s working and what I am testing in my own business and for clients. And so there’s like a saying how today’s strategies are going to be out of date in three months. It is so true how the same recommendations three months or a year from now could be completely wrong. And I do believe there are always core foundational marketing principles that are never going to change. My values are based on that, but some of the actual strategies, a lot of the actual strategies, they’re going to shift and change. And so I’m going to keep you guys up to date, but that ability to stay flexible and adaptable like I talked about in the last few episodes is really important. But you do have to balance that with focus. And so we’re going to talk about that today because I think it’s a very fine line. And a lot of times only you know what that line is and you have to kind of hold yourself accountable for that.
Before I dive into the content, I have a very exciting announcement I want to share. And that is yesterday, the day before this podcast came out, I launched a new offer, which is why we’re talking about this. I launched a new offer that we’re doing a one-time live experience called Cashapalooza, which basically will take you through 30 days creating a cash infusion in your business. And there’s a couple of main components in it. First, we’re going to identify either creating a new offer or changing your existing or adding a bonus. There’s something to create that promotion for your Cashapalooza. And then we’re going to create the promotion. We’re going to create the strategy. We’re going to create the assets, the emails, the social posts. I’m going to give you guys scripts and templates for all that.
And the cool part is, there’s trainings in step by step. Super easy training. Short, actionable, but it’s a live experience. So week 1, we do this. Week 2, we do this. Tied in there is opportunity for you guys to submit with your offer and what you’re going to sell, your promotional strategy, your actual promotional materials like your emails and your social posts for review from myself and our team. And so it’s tying together, yes, training and how to actually execute this step by step every single detail with swipe files, with templates and resources, but also we’re going to live review your stuff because I’ve learned that’s where the magic is. It’s in customizing it for your business. It is right now on sale for early bird pricing of only $997. And I’m guaranteeing that you’ll make cash, or I’ll give you your money back. If you show up and you do the work and you submit your stuff and you go execute and you don’t make money, I will give your money back.
So if you want to join, we kick off live on July 5th. So you have to join, but early bird price ends tomorrow night, Friday night. So the link is hirshmarketing.com/cash. We kick off live July 5th. But if you’re on vacation or something, or you have days in July that you’re not there, don’t worry because we have an extension for the live support. And then all of the trainings and the resources you have access to forever. So a cash infusion is something you can do up to 4 times a year in your business and kind of
repeat this process and this strategy with different offers or different bonuses or new promotion. I don’t think you should create four new offers a year, we’ll talk about that. But I would love to see some of you guys in there.
This is the first time I have an offer at that price and access in terms of support in that way. The reason I did it is because so many of you guys need to generate cash in your business. In the last week of the cash infusion, I’ll show you guys, okay, now that you did your cash infusion launch, what’s next and how do you integrate this into a longer-term strategy? How do you reinvest your cash back into your marketing for growth? And so it will also direct you into that long term in the entire experience. So hirshmarketing.com/cash if you guys want to get in on the early bird pricing. And then we kick off live July 5th, so there is a deadline. You can’t obviously join after that. And we’re we’re going live together. So it’s a great opportunity too for me to participate in a live experience and get that access to me in a Facebook group and calls and office hours.
Okay, let’s dive into today’s topic, which is when is it time to change or create a new offer? So I’ve been talking a lot about cash infusion and flexibility and adaptability. Sometimes with that comes the need to either change your offer, create something new like I have done with Cashapalooza or maybe change the wrapping paper, the positioning of your offer, adding a new bonus. And so let’s talk about how you
know when it’s time. And I think this need has increased because I touched every single one of our agencies’ strategies last month. There was quite a few that I was recommending an either shift in their offer, an additional bonus, or something to change the wrapping paper and positioning around it. It was probably 1/3 of our clients that I was recommending that, which is quite a lot because that’s a pretty big strategy change versus just minor tweaks to something that’s working.
And so here’s the biggest indication you guys. Honestly, if you are getting leads and you have the opportunity to sell to those leads, you have people going to your sales page, listening to your pitch, hearing about your offer and it’s not selling, that’s a big flashing red light you might need to make a change, especially if it used to sell. And that’s the boat a lot of people are in, is like, “My offer used to sell. It used to sell a lot more, or now it’s not selling at all. I’m still getting leads and I’m still getting people to my webinar and I’m still pitching them and I’m still getting them to the sales page, and I’m not selling them.” That is a huge indicator, flashing indicator light that you have to make a change to your offer. So that’s the biggest one.
The other one could be, if you’re in the boat where you’re a newer business, you haven’t had the opportunity to sell your offer a lot, that one is a little harder. If you feel like I’m not hitting the mark with my offer when I do have the opportunity to sell it, it’s probably worth it to look into that. But if you don’t have people coming to your offer and the opportunity to buy and hear about it and actually know if they convert or not, I don’t think you want to make a decision of changing the entire thing because that’s based more off of emotion than data. But if you have the data of like “2,000 people have been to my
sales page,” or “I’ve had 2,000 leads and 1 sale or 0 sales,” that’s a data-driven decision that you need to make a change.
A lot of times people will blame and say like, “Oh, it’s the quality of the targeting” or, “It’s my leads.” And really a lot of times it’s the offer. Because if you are getting people in a door the right way, like signing up for a webinar that has something to do with exactly the problem you solve and the problem your offer solves, it’s not the quality of the traffic. And honestly too, price. When people tell me, “Oh, it’s because I raised my price or I’m charging too much.” No, it’s because the perceived value of what you’re selling is not there. So if you’re saying, “Oh, I’m charging $1,000.” Sure, there’s some industries where $1,000 is a lot of money and you can’t charge that much. But if you’re saying, “Oh, I’m charging $1,000, maybe I should charge $500 instead, and then I’ll get sales,” that’s not really the solution. I’ve also seen people do that where they just lower their price because they think that’s going to increase sales.
The problem is the perceived value. People are seeing the $1,000 price tag and they’re saying “It’s not worth $1,000 to me.” And so that’s your positioning. That’s your offer itself. Is it worth $1,000? Is it overpriced? I don’t know. But it’s not as simple as like, “Oh, if I lower the price, it’ll just start selling” because you might have the same exact problem. And so those are the kind of easy ways out that people say, “Oh, it’s my price and my offer. I need to cut it in half” or, “It’s the quality of my leads and the quality of my people.” Usually, it’s the positioning of your offer or the offer itself.
And so you have a few options. You don’t have to create a brand new, totally new offer. That’s not the only way to do this. You could create a new offer. You could also just change the wrapping paper and the positioning around your offer. Maybe the way you’re talking about your offer, the way you’re talking about the problems that it solves, the dreams and desires that it fulfills, and the way you’re connecting with your ideal customer and your leads is no longer working. It has changed based on where they are at.
So that means the back end of the offer doesn’t change, but the front end and the way you talk about it and the way you position and sell it might change. You also could add a new bonus. You could add an additional component. You could up-level the offer. Is there an extra level of one-on-one support? Is there an extra audit? Is there something extra that’s going to help them get results faster and easier? That’s another option. You keep the core offer the same, but you add some sort of bonus. Or you change your offer a little bit and you add something to it. I did that with Ignite, to Market Like a Pro. It’s
like the foundation stayed the same, but I took a year and a half’s worth of data from our members and I changed the offer with what they needed and how to continue to solve their problem.
So a couple of ways that you can look at this is you can ask yourself, where are people getting stuck before they buy my offer? What problem did they need to solve before they’re ready for my core offer? That could be now an offer you sell beforehand. And so you guys, I did this. So let me explain Cashapalooza where it came from. I sat down and I was like, “How could I get more people ready to buy Market Like a Pro and my agency?” Which are still my core offers. I asked myself that question and I realized, “Okay, the number one problem that every single business I come into contact has, not every single but a lot, is their offer.” So I started with, “Okay, maybe I’ll help people create a really irresistible offer. I can do that. I’m really good at doing that. We can review what they create and I can help them get to that place where they have their really irresistible offer.” So that’s part one of Cashapalooza, okay?
Then I was like, “Well, and in order to create people who are ready to buy Market Like a Pro and the agency, they need money. They need to be able to invest in their marketing. So I’m going to help them make money in a super affordable really great way.” And now I’ve just created an offer that’s going to help me create ideal customers for my core offers.
I have a friend, George Bryant, he is going to be on the podcast soon. He’s so smart. he helped me with this. When he said, “You have to figure out how you can create more ideal customers, not wait for them to come,” it clicked for me because I realized that over the years I have been narrowing down the people that I can serve more and more and more, like getting more and more strict. I think this is a journey that we go on and it’s not always the best advice where we get more strict. Like, “We’re not going to work with these people. We’re not going to work with these people.” Yes, you should have
those boundaries, but also if you get so strict, you’re not going to get a lot of sales. You’re going to get less sales.
And so with the tools that you have and the ability to solve people’s problems, how do you create ideal customers for your core offer? So that’s where Cashapalooza came from, because I knew if I could create a really great offer for somebody, create their irresistible offer because that’s the core of marketing that like, if you don’t have that, nothing’s going to work. So if I could do that, plus generate cash for you guys, I can guarantee you that there will be more sales into Market Like a Pro.
And so thinking through that question of like, what problem can I solve for people to get them to my core offer is one thing. And then the second thing is what problems are coming up for the people who buy my core offer that I can solve from either within or after. And that’s a good place too. Especially if you have a service business and you look at, “Okay. People stay on average of six months.” Why are they leaving at six months? What problems are coming up? Are they running out of money? Are they feeling like they don’t need help anymore? And so then you build a solution to that which could be a new offer.
And so you can’t do all these things at one time, but you can think through this and ask yourself like, “How do I help people before they even get to my offer, get to my offer better?” Or “How do I help people once they buy in my offer to achieve the result or continue and stay on longer or continue just basically getting your support as a business?” And that could be an idea for a new offer. And so those are great things to think through and then decide which one is going to move the needle the most. And
so for me, I came up with a lot of ideas throughout this process and decided, “Okay, Cashapalooza is going to make the biggest impact on people and it’s also going to be the most attainable, affordable. And so that’s what we went forward with launching first.
So those are kind of your options and an exercise that you can go through and decide, do you need to change an existing offer? Is it a new one? Is it a downsell or an upsell basically from your core offer? And so sometimes it’s changing your core offer if that one is totally not selling. Sometimes it’s launching one that comes before or after that core offer. And so once you do that exercise, this is how you know it’s time. The biggest thing is, your current one is not selling. That means we have to change something if it’s
not selling, and you have people getting pitched and going to the sales page and hearing about your offer and it’s not selling. We had someone recently where they pitched it to 20,000 people and got 3 sales. And I was like, “It’s the offer. We’ve got to fix the offer positioning.” And I get that it’s sold before. I get that. Things have changed. We have to change with it. We have to adapt with it.
So one thing to learn from this is that, like I said, in business I think we put ourselves in this box where we become more and more narrow about like, we only help these people and they have to have this list of 15 qualifications before they can qualify for our offer. And it’s like less than 1% of your audience is probably going to meet those qualifications. So you’re losing money doing that. However, here’s the catch. Creating a new offer is obviously a lot of work. One thing I’m showing you and talking about in
Cashapalooza is how to do this where it’s a lower impact in delivery so you can prove it, and then do the work to create it.
So for example, Cashapalooza’s a live experience. And so each week we’re dripping content, but I didn’t have to spend five, six months like I did with Market Like a Pro, recording a bunch of content ahead of time and having that all done. It’s relatively easy to deliver, low impact to deliver. I just have to have a lot more time in July for it, but it’s not like I had to spend months getting this ready.
And I can test this out. If it totally doesn’t work, then we don’t do it again. Or we don’t offer it, and it’s okay. So you have to weigh. If I do this, is it going to impact my current success? If you look at your time being spent, so for example, if you have a marketing strategy that’s not working and things are not selling and you weigh, “Okay. If I go this direction of creating a new offer or changing my offer significantly and then launching it, is that going to negatively take away from my focus? Or what if I redirected the resources and time I’m spent trying to get my current marketing strategy working and put it into creating this new offer? And only you know the answer to that.
And so you have to really think about your time, right? We only have limited time. We can’t create more time. So where are you spending your time right now trying to get your business where you want it to be? And if you were to take a portion of that time and put it towards creating either a new offer or making significant changes to your offer if you need to, if you meet the qualification of “My offer is not selling how it should be or how it used to be. And I know that is the problem. I really think that’s the problem,” if you feel that way, and then you weigh your time, is it worth it for you to put it into this?
And the answer might not be, “No, not right now. It might be on a month from now.” Or it might be like, “Yes, this feels right.”
If you are doing this because you’re bored or because it sounds fun to create an upsell or a downsell but your existing thing is working fine, then it’s losing focus. If you have something where you’re like, if I were to put the same amount of resources and time into just doing this more, doing this better, scaling this thing that’s working, then that’s a loss of focus. That’s where I would say don’t do that. Because if you have something that’s working well, don’t go launch something new and take away from the thing that’s working well. But if you know you need to make pivots and adapt and change and the thing you had is not working how it used to, or it’s not working well right now, then your time might be better spent pivoting and creating something new to test.
And I think I’ve kind of changed my perspective on this a little bit, because I was very much like, “No, we have to focus. These are our offers. That is it.” Now I do have a pretty large team and support. I also have the ability to work extremely hard, which I am right now. I’m a hustler when I need to be and when I’m excited about something and I’m able to create that time. But you have to weigh that. You have to weigh, like, “Do you have the resources? Do you have the time? And what is it going to take away from?” Right? Because anything we put time into takes away from something else. And if it’s going to take away from something that’s not working and you’re spinning your wheels, that’s probably a positive thing. If it’s going to take away from something that is working and that does need your attention and that’s going to go down in revenue if you switch your attention, then that’s maybe not the right decision for you.
But what I challenge you guys to do is actually sit there and question those questions I walked through and ask yourself, “Is this the right thing for me?” Are lights and bells going off right now saying, “Oh my gosh, I haven’t really even thought about looking at my offer or creating a new offer. I’ve been in a box and I didn’t even realize it. I’ve been focusing on all the marketing and spinning my wheels, but maybe the offer is the problem”?
So I’m going to dive really deep into this offer portion. It’s the whole first week of Cashapalooza. I have an exercise for you guys. I’m going to do office hours. You’re going to get that custom support to bounce ideas off of me. Because like I said, I sat there and I was like, “This is the number 1 problem people have. They don’t have an offer. Maybe the delivery of the offer is good, but the positioning is not there. They’re not hitting the pain points. Or maybe it’s not even a good offer.” And you cannot mark it. That will not work. In today’s climate, it really never worked, but people got away with it. But if your offer is not there, your marketing isn’t going to work. And so that’s why I really went deep on that in this experience.
And so if you feel like, “Oh my gosh, yes, I need this. I need to either create a new offer, overhaul my existing one. I want expert marketing eyes on this,” including myself, then Cashapalooza is for you. It’s also kind of cool because I’m doing this whole process with you guys. I just did the cash infusion in my business. So you’re watching me do it and then show you the success. I’ve done this before and I’ve done this with clients. We have one client I generated last month $100,000 for doing this exact process. She launched a new offer. Another client actually did like $250,000 with a mastermind offer that I helped her launch. So if you want to join hirshmarketing.com/cash. Thanks so much for tuning in today, guys. I hope this answered some of the questions you guys have been sending me over the most recent podcast. And I’ll talk to you soon.
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