Morning 🙂
Today we’re continuing with my series about how to maximize a winning offer.
The reason it’s being written…
Is because I have a weight loss offer with my partner, Cody.
It just launched maybe 6 weeks ago…
And it’s now doing between 300-500 front ends a day.
We’re confident we can run at this volume for at least a year…
And, because we have this big winner on our hands…
I’ve become rapidly motivated to want to make the most out of this opportunity.
I’m actively doing several things to optimize the offer…
And here’s what I’ve gone over so far:
1. Increasing AOVs
2. Adding Subscription
3A. Monetizing the Data (Through Email).
If you didn’t read any of these previous blog posts, you can check them out below:
How To Maximize Your Winning Offer Step 1: Get Your AOVs Up
How To Maximize Your Winning Offer Step 2: Add in Subscription
Maximizing Your Winning Offer Step 3A: Monetize That Data (Email)
But for now, let’s continue…
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Maximizing Your Winning Offer Step 3B: Monetize that Data (On The Phones).
Often when we think about monetizing data…
It’s in-regards to email, or maybe SMS.
Both of those things are great…
But one of the best ways to increase both revenue and profit for your funnel…
Is to get your customers on the phone.
Here are some ways we do that:
First, we need to call all of our “partials.”
Partials are people who started filling out the checkout form, but then didn’t finish.
Calling them is like shooting fish in a barrel…
And for the call center, I own (shoutout Turtle Peak)…
We find that when a “partial” answers the phone…
We convert them to a customer about 80% of the time.
Sounds nuts…
But think about it:
If the prospect took the time to view all of your sales copy…
Then they actually started entering their info into the checkout form…
It’s fair to say that they were pretty interested in buying your product or service, right?
So, what happened?
Well, maybe they got scared because they weren’t sure if you were a real company…
Maybe they didn’t know if they could trust you…
Or, maybe it wasn’t even that…
Maybe their doorbell rang and it was their neighbor…
Or their kid came home from school…
And they had to stop what they were doing and go live their life.
No matter what the reason…
The point is that they really wanted to buy it…
Something just got in the way.
So, when you call your partials and give them the opportunity to quickly finish their order…
Most of the time they jump on it.
If they had trust issues before…
Talking to a real person helps to assuage those fears.
If they had unanswered questions…
Talking to a real person gets them those answers fast.
And if they just got busy and didn’t finish the checkout…
Talking to a real person is a great convenience.
There’s a reason why my call center does a very healthy six figures a month by converting partials into customers…
It’s super effective.
Alright, now the second thing we need to do is call our “declines.”
Declines are similar to partials…
Except they’re even better.
Because these are people who actually did fill out the whole form…
And they even pressed the “buy now” button…
It’s just that for whatever reason, their card didn’t go through.
Sometimes it’s because their bank didn’t recognize the company (or the processor) charging their card…
But a lot of other times it’s little things.
Like the customer making a mistake in the order form…
Putting a comma where they shouldn’t have…
Spelling out “Road” when they should have put “Rd”…
Etc.
So, when my call center rings people who have experienced a decline…
Guess what happens?
They convert over 80% of the time (when they pick up).
Oh, and one more important thing about partials and declines…
The sooner you can reach out to them the bette.
Because it’s best to talk to a prospect when they are “in heat” and ready to buy.
The third way we can monetize our data over the phones is through Welcome Calls.
I’ve written about this previously…
And how it’s something that my call center has just recently gotten really serious about.
In the context of this blog post…
The welcome calls we’re I’m referring to are to brand new customers.
Where we’re thanking them for their recent purchase…
Finding out more about the reasons they bought (and their pain points)…
Then recommending additional complementary products that can help them achieve their desired outcome in even less time.
I’ll be 100% honest: my call center still isn’t perfect here…
We have some agents who are grossing a few thousand dollars a day in sales doing Welcome Calls…
While other agents haven’t quite gotten it dialed in yet.
It’s a bit of a process, and we’re new to it…
But my agents are grossing enough overall so far…
That I plan to expand it dramatically in the coming months…
And that will include my weight loss offer with Cody.
Realistically, I’m pretty sure that for a team of five Welcome Call Agents…
They’ll be able to gross at least $10,000 per day in revenue for our weight loss offer.
That’s another $300,000 extra per month…
At about a 50% gross margin…
Which adds up to another $1.8MM that we can expect over the coming year…
At least once we get Welcome Calls really dialed in (pun intended).
Okay, and the 4th way we can monetize our data over the phones is through inbound.
This might seem kind of surprising…
But I’ve always looked at inbound customer service as a profit center…
And there are a few reasons why.
For one thing, if you’ve got well-trained agents answering the phones…
It increases confidence and trust in your customers…
Which, in turn, leads to dramatically reduced refunds and chargebacks.
This tends to save you a boatload of cash right there, which is awesome.
But that’s just the start.
In addition to making customers feel more confident in your product and company…
Inbound is a wonderful time to upsell new customers as well.
Say they just took your main product, but they didn’t buy any upsells…
And now they’re calling in to find out how long it will take until their order ships.
Well, the agent should, of course, get them that information…
But this is also a perfect time to ask some probing questions…
Then say, “hey, while we’re shipping out your order, did you want to add X to it at a special deal?”
A lot of times the customer says “sure”…
And this increases your AOV right there.
Plus, in addition to these things…
There’s always going to be a percentage of prospects who just want to talk to someone before they buy.
And when you’ve got a good inbound set up…
You’re able to scratch that itch and make the sale.
With a good inbound team on the phones…
You can reasonably expect to increase your daily gross anywhere from 3-10%…
And over time, that can really add up.
Say you’re doing $100,000 a day in sales..
And your inbound adds another $3,000 in gross per day (3%)…
That’s still another $1,095,000 in revenue over the course of a year…
And the margins on those sales are ultra-high.
Because you typically aren’t paying a CPA on sales you book over the phone.
Coincidentally…
This is one of the reasons why most affiliates don’t want you to have a phone number on your checkout page…
And, it’s also why you totally should put one on there.
And then keep it there.
Unless a really big affiliate really draws a line in the sand and says it “must” go.
Oh, and also…
This is why, if you have a good call center…
You should get your phone number to your customers as much as you can.
For me and my offers with Cody…
We’re going to be putting our number on my checkout page…
The order confirmation page…
Emailing it to the customer with their receipt…
Including it in all our future blog posts…
And even putting it on the packing slip that gets included their orders.
A lot of folks shy away from sharing their phone number…
Because they think that it will make it really easy for customers to refund their orders…
But, the reality is…
Making it easy for your customers to talk to someone generally decreases refunds…
Plus, it also brings a whole lot of extra revenue too.
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So these are all things Cody and I are working on for our offers.
And yeah, I gotta plug my call center in this blog post too…
Because we’ve gotten really good at this stuff…
So, if you don’t have a call center right now…
Or you aren’t happy with your inbound or outbound provider…
Let me know and I can connect you to the team.
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That’s it for today’s post…
Now I’m gonna be jumping into the Copy Accelerator FB group…
Then working on some copy stuff for the next few hours…
And I hope you have an awesome day!
– SPG
P.S. I’ve mentioned it a few times, but as a reminder…
Justin and I did a free Zoom Call on Upsells.
If you get upsells right…
You can increase your Average Order Value by $40 or more…
And on that call…
Justin shared the three most proven ways to optimize upsells…
So you don’t want to miss this.
P.S. This post originally came from an email I sent to my private list. If you want to see more stuff like this from me, you can apply to join my list using this link.
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