ep 455:How To Generate Quick Cash Or Improve Stagnant Results –
2022 Secret Strategies Series #2
In the second episode of my new series, 2022 Secret Strategies, we are diving into TWO critical strategies. (If you missed the first episode, catch that here)
First, my cash infusion strategy. There are going to be times when your business needs to make some quick cash. Implementing my cash infusion strategy by leveraging your existing audience is the best way to get that cash flowing, and FAST.
Second, how to improve stagnant results. Have you ever had something that worked SO WELL in your marketing just quit producing results? If you weren’t sure how to respond when those results plummeted, this episode is for you. Listen in!
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READ THE EPISODE TRANSCRIPT
What happens when something that was working before isn’t working anymore? What happens when your cost per lead goes way up or your sales conversions drop and your sales slow down and you get into that mode? First of all, those two scenarios are normal in business and having a response to them is really important.
You are listening to the Not For Lazy Marketers Podcast, episode number 455.
Hello my friends, Happy Tuesday. Let’s dive into episode two of this series. So if you’re just listening to this first one, just to fill you in quickly, I’m doing a series five parts this week. It’ll be every day this week, Monday through Friday, all about the Secret Strategies of the year. So I really sat down and I took over an hour and I looked through all my notes from client strategy calls that I’ve done, which I’ve done 45 actually over than the ad in the last four months, and created custom strategies for clients. It’s one of our biggest specialties is to create these custom strategies that take into consideration the funnel strategy, the ad strategy, the messaging strategy, the email marketing strategy, the creative strategy. We’re really freaking good at onboarding clients and taking all this into consideration and creating these custom strategies. From that, I really wanted to figure out what are the top things that I was recommending this year that is very tactical and you are able to implement between now and the end of the year you’re able to bring into next year.
So those are the episodes I’m doing all this week obviously free on my public podcast. If you love any of these episodes that you listen to this week, it would mean the world to me if you shared them on your social media and tag me so I could say thank you. All right. Today’s strategy we’re gonna dive into is how to generate quick cash or improve stagnant results. Now, this is not a new strategy that I haven’t talked about on the podcast, but it is so key to the success that we’ve created for clients and myself this year that I had to dedicate a podcast episode to it, and I am gonna break it down in a really simple way so that you can implement it, but this is my cash infusion strategy. It’s also changing and refreshing the wrapping paper on your existing strategy.
So everybody goes through a phase in their business where they either need cash quickly and they don’t have time to put together this long drawn webinar funnel or multi-step funnel. They need to generate cash, and so there’s a way to do that for every single person, leveraging your existing audience. The second thing is improving stagnant results. What happens when something that was working before isn’t working anymore? What happens when your cost per lead goes way up or your sales conversions drops and your sales slowed down and you get into that mode? First of all, those two scenarios are normal in business and having a response to them is really important. So there’s two things that you can do, and this was probably one of the most important things that I did in all the strategies I created and for our own business. And we got to a place where this started to be planned proactively.
So when a client comes in and does a strategy call with me as needed, I’m planning out what is that live launch? What is that cash infusion? What is that fresh wrapping paper? How frequently are we gonna do that? Because you actually don’t want it to get to the place where you need cash so bad, or your results have tanked so much, you actually wanna be taking this action before it gets to that place. That’s the ultimate goal. So the first strategy in being able to generate cash quickly is my cash infusion strategy, which essentially there’s three options for this, and it’s completely using your existing warm audience and your existing leads, and that’s why you’re able to generate the cash quickly. Now, the more work you’ve done and the more time you’ve spent building up your list and building up your audience, the more successful this cash infusion strategy has the potential to be because you have more audience to reach.
If you have a very small list or a small audience, it still will work. You just won’t get as many sales. So it’s dependent on, and it’s really an opportunity to see like, Wow, was I successful and have I been really, really consistent with my audience connection and growth? Okay, so the three options for a cash infusion, you can do the most simple one, which is you just do a promotion, you discount your product or service, you put a special discount, limited time, three days, one week, whatever it is, and you push that out to your entire audience. You push it out to your email list, your social media, your content, and you get sales, right? Cause that potentially pushes people over the edge who may have thought about buying, have seen it and just haven’t pulled the trigger. Now you’re giving them a reason to.
So that is the most simple thing. Now, you cannot do this every month. All cash infusion strategies are best about every three to six months to do one, whichever one you choose. If you do this too much, it can actually have a negative impact on your business because then you’re training your audience and your list to wait for you to have a promotion. I really only discount my stuff from a whole audience perspective, maybe once a year. So most of the time when I’m doing cash infusions or when I’m recommending them for clients, it is the other two options that I’m gonna share. Or it’s a discount on the backend after a webinar or something, but not to your whole audience. Okay? So the second option that you could do is you could add a bonus, you could add something to your offer. So I do this one all the time.
I say, if you sign up and you sign up to work with us by this date, you get XYZ bonus, you get an extra strategy call, you get a done for you cash infusion plan. That was one of ’em that we did this year. You get whatever it is that we create. Now, bonuses across the board, anytime that you have a bonus, whether it’s in a cash infusion or it’s attached to an automated webinar funnel, bonuses have to be associated with your audience achieving their result faster and easier. Bonuses should be like hacks, quick wins. That’s why one on one support is great. That’s why done for you work is great. That’s why audits are great as bonuses because all of those things for your audience are associated with achieving their desired outcome faster with less work on their part. So this is an option for a cash infusion.
Again, a limited time, you can choose, okay, over this three day, five day period, I am going to add in this bonus. Anybody who buys my offer signs up to work with me, fills out an application, et cetera during this time also is going to qualify for this super awesome high value bonus that is going to help them get to the result so much faster, in so much easier. It’s a super attractive bonus. So that’s an easy one to do, and you don’t have to discount your service and you can limit it. You can say like, I only have 10 spots for this. If it’s a high touch bonus, super easy to do. Push it out to your whole audience. Again, hit people who have thought about buying before and now they go to sign up because they’re super enticed by this bonus. The third option for your cash infusion that you can do is you can create a new offer.
You can create either a lower priced or a higher priced. Sometimes I’m gonna talk about the higher priced in a second. Usually it’s a lower priced offer. So usually it’s following the advice I gave in yesterday’s strategy about creating more of your ideal customers and capitalizing on leads and audience. You’re already building to do that by creating a lower priced offer. And so you can create something that’s super easy to deliver. It’s maybe a digital product or a smaller version of what you sell, and you can push that out there for a limited time promotion and capitalize on people in your audience and on your list who haven’t bought because they’re not quite ready for your offer at the price that it’s at. They can’t afford it yet, or they’re not at the right level, and you’re just sitting on this potential and you launch this and it creates this massive cash infusion for your business.
It’s a fine balance here because I don’t like people getting distracted with a bunch of new offers, but you have to understand that if you create this offer, you’re not gonna then go and create this separate funnel to try and consistently sell this offer. What this offer does is it helps you capitalize on leads and traffic. You are already getting to sell your core offer, but they didn’t buy it. And so it’s really part of the same funnel and the same overall goal of that core offer you have. Where it gets distracting is if now you have to have two webinars and two funnels and spread everything out and try to get both working, that’s not good. This is to capitalize on existing traffic in leads through this down sell. You can also go the route of an upsell. So I’ve had a couple people do this too.
I’ve done this myself last year, which is I did a very high touch mentorship offer for only three people, but it was really expensive, not really expensive, but it was higher ticket than my core offer, and it created a really great cash infusion for my business because I only had to sell three spots to generate 45 K. So I was able to do that. And so that’s an option too. You have to have a pretty big audience to do that and then it’s a limited option. So those are the options for a cash infusion. You can choose one of those three. It’s always a very limited time and you can’t do it too much. So this is not a strategy that you can depend on every month to make your business revenue. It’s how you create a surge of cash in your business by capitalizing on leads and audience that you’ve already built.
The second piece to this is improving stagnant results. How you improve stagnant results is you create something fresh. So you take what you have and you take what was currently working, but it’s maybe stagnated and you just put some new wrapping paper on it. This could look like a fresh webinar title, opt-in, a new video series on the front end, a new way to bring people in, a new problem to solve for your ideal customer via some sort of valuable content. It can also look like doing this with your offer, focusing on a bigger problem, adding a bonus to your offer to address a specific issue. It can look like any of those things. It could be related to your offer or to the front end. I usually go the route of addressing the front end first because I think that stagnates first, usually the actual webinar and the offer is okay, but it’s the attraction piece.
If you’ve done the same exact webinar for the last six months, or you’ve had the same exact opt-in for the last six to 12 months, you probably need something fresh. And it’s really easy to create this. And the faster you can get at kind of creating these front end things, the better it is for your marketing, the more nimble and flexible that you are. You’ll see me do this all the time. I mean, I have a whole marketing team, so also don’t compare yourself to that if you don’t have that support. And it’s a reason to have that support because the faster you’re able to pivot and be flexible and make those adjustments, the better it really is for your marketing. So you’ll see me all the time have a fresh training title or put out a new opt-in or a new workshop, and we’ve gotten so good at it, it’s just very easy for us.
But the reason I do that, that is to reignite my existing audience and to just create some fresh energy to both cold and warm traffic, but to people who just started ignoring whatever I was doing because it was the same thing for a period of time. And so if your results have stagnated, the steps that you can take to do that is one, connect with your audience, connect with how they’re feeling, connect with what they’re going through, connect with the biggest struggle they have right now because it changes and it shifts. If I think about you guys, for example, the struggles that you were going through at the beginning of this year are different than now just because of the seasons, just because of the time of year, but also because of the year that it was and the economy and the changes in things that have happened.
And so people forget about that and they think once they’ve done this work of this connection, they’re good to go and they don’t have to do it anymore. So one, connect with your audience and really get clear on what is the biggest problem, what is the biggest struggle, what is the biggest frustration that they are experiencing right now? And how could I solve that with some free piece of valuable content, whether that’s a training or an opt-in for you eCommerce people, that could be a piece of content, that could be a video, that could be a blog post, that could be a social media post. Something really simple if you’re eCommerce, but just a way to ignite overall attention to your brand and for digital products and services, getting more leads. So if your results have stagnated, it’s usually a sign that you need to go back to the basics, go back to the messaging, connect with your audience and get some fresh energy in there and just overall change the wrapping paper.
So those are two strategies that, like I said in the beginning, there’s something you could do right now if you’re experiencing one of these things. And I love hearing about your cash infusion success. I’ve gotten so many messages, so many from people who have created so much cash in their business. I got one the other day who said August was the best month of their business because they did my cash infusion strategy. And so I love that. So two things you can look at. What could you do now to create that potential cash infusion or to fix those stagnant results? But the bigger picture thing that you need to also do is figure out how do I incorporate this into my marketing strategy ongoing? And that’s what a good marketing strategy does, is it prepares for the fact that you are gonna need to generate cash and that you are gonna be sitting on opportunity of leads and audience that you’re building that you can capitalize on even if you don’t desperately need the cash, Who doesn’t want that?
That should be built into your strategy and you are gonna have stagnant results. You are gonna need new fresh messaging. So how do you build this in a proactive way so that the month before it happens, you are already executing the strategies and starting to plan these strategies? That’s your goal for next year. All right, you guys, I hope this one was helpful. This is probably one of my favorite ones I’m gonna do, but we have lots more cool ones. Tomorrow I’m gonna give you an episode all about doubling your webinar show up rate and just increasing your overall engagement when you put something out there. So these are all strategies I’ve implemented. I’ve tested on clients. I took so much time going through strategies and pulling out what are the most simple effective tactics and strategies that you guys can execute right now and going into the next year.
And that is what all of this is about. If you’re listening to this and you’re like, I want Emily to strategize my marketing, I’m still taking client strategy calls for probably the next couple of weeks as I train our strategist, which our strategist is going to be amazing and be based on all of my processes and strategies. I have a 50 page document of best practice Marketing Strategies by Playbook. But if you’re interested in that, I would go to help my strategy.com and just fill out our application and see if it’s a fit. Because all of these things I’m talking about this week are things that I do for clients and I plan for clients like cash infusions, fresh marketing. I mean, we brainstorm all the time and give clients new webinar titles for another client. We just actually tested three different webinar titles before her live launch because we wanted to see which one was gonna get the best cost per lead, and we came up with those webinar titles for her. So we do this, all of this for clients, which is actually one of the most important things about marketing, cuz the ads won’t work without this. So you can always go to help my strategy.com if you wanna explore that. Otherwise, I’ll be back here tomorrow with strategy number three.
Thanks for listening to the Not for Lazy Marketers podcast. If you love this episode and want deeper support with your marketing, head over to helpmystrategy.com to see how Hirsh Marketing can help take your marketing to the next level no matter where you’re at today. We help our clients scale faster than ever, find hidden leaks in their funnel, experiment with new creative marketing strategies, and help their business explode and be more profitable than they ever dreamed possible. Head over to helpmystrategy.com and see if you qualify for a free strategy audit with Team Hirsh.