1 00:00:00,120 --> 00:00:04,160 Here's the thing. It's not so much about how long the lead up is 2 00:00:04,440 --> 00:00:08,279 in the launch, and it's not about building excitement during that lead up, 3 00:00:08,880 --> 00:00:13,119 but rather it is about ensuring that your audience is where they need to be 4 00:00:13,640 --> 00:00:20,719 to be ready to buy when car opens. Welcome to Imperfect Action. I'm 5 00:00:20,760 --> 00:00:24,480 Steph Taylor. For years, I read all the books, downloaded all the 6 00:00:24,519 --> 00:00:28,760 freebees, and did all the courses, but it wasn't until I started taking 7 00:00:28,800 --> 00:00:34,679 imperfect Action that my business had its first million dollars year. Imperfect Action is 8 00:00:34,679 --> 00:00:40,759 about doing things before you're ready, prioritizing consistent action over perfect action, and 9 00:00:40,880 --> 00:00:45,600 moving forward even when you're not sure you're doing it right. On this show, 10 00:00:45,679 --> 00:00:50,119 you can expect mindset advice, actionable marketing tips and strategies to build a 11 00:00:50,159 --> 00:00:54,520 business that brings you more profit, more freedom, and even more joy. 12 00:00:56,439 --> 00:00:59,679 Are you on the list to get my daily businesses? Every day, I'll 13 00:00:59,679 --> 00:01:03,000 send you a bite sized prompt designed to help you grow your business in a 14 00:01:03,079 --> 00:01:07,680 more intentional way. Sign up at Stefftaylor dot co, forward slash DBB, 15 00:01:07,159 --> 00:01:11,879 or at the link in the show notes. Hey, Welcome back to Imperfect 16 00:01:11,879 --> 00:01:18,959 Action. Episode six hundred and seventy one Today is an Ask Steph episode where 17 00:01:19,040 --> 00:01:23,959 I am answering a question that was submitted by a listener. Now, if 18 00:01:23,000 --> 00:01:26,840 you have a question that you want to ask me and that you want me 19 00:01:26,879 --> 00:01:33,079 to potentially answer on a future episode of Imperfect Action podcast, you can submit 20 00:01:33,159 --> 00:01:37,159 that at Stefftaylor dot co slash ask Steph. You'll find the link to that 21 00:01:37,239 --> 00:01:42,200 in the show notes below this episode as well. So today's question is from 22 00:01:42,519 --> 00:01:48,200 Morgan and the question that Morgan submitted is you mentioned that products should not be 23 00:01:48,280 --> 00:01:52,319 made evergreen until you have live launched them a couple of times. You're also 24 00:01:52,400 --> 00:01:56,200 really clear that a proper launch requires a big lead up, an appropriate strategy, 25 00:01:56,239 --> 00:01:59,840 and a sense of urgency in having cart open and cart closing dates. 26 00:02:00,280 --> 00:02:02,959 My question is if you believe that this is also what is required to live 27 00:02:04,079 --> 00:02:07,840 launch a low ticket offer such as a fifty seven dollar workshop or masterclass that 28 00:02:08,000 --> 00:02:13,159 doesn't lead to any other big ticket offer. Do you personally do the same 29 00:02:13,400 --> 00:02:17,199 big lift for low ticket offers in your business and how might your live launch 30 00:02:17,280 --> 00:02:23,960 strategy change when they are low ticket offers. I love this question so much 31 00:02:23,039 --> 00:02:28,680 because I get asked this a lot, especially from people who are launching those 32 00:02:28,680 --> 00:02:32,599 offers you know that are maybe fifty to two hundred dollars that are slightly lower 33 00:02:32,639 --> 00:02:38,080 ticket. Now, I want to clarify a couple of things that you mentioned 34 00:02:38,080 --> 00:02:42,800 in your question, Morgan. So firstly, the big lead up. You 35 00:02:42,879 --> 00:02:46,159 mentioned that I've made it really clear that a launch requires a big lead up. 36 00:02:46,240 --> 00:02:50,520 And here's the thing. It's not so much about how long the lead 37 00:02:50,599 --> 00:02:54,000 up is in the launch, and it's not about building excitement during that lead 38 00:02:54,080 --> 00:02:59,680 up, but rather it is about ensuring that your audience is where they need 39 00:02:59,719 --> 00:03:04,879 to to be ready to buy when doors open, when cart opens. Now, 40 00:03:04,919 --> 00:03:07,639 what do I actually mean by that? So I'm going to use one 41 00:03:07,639 --> 00:03:09,759 of my offers as an example. I have the podcast launch Plan. That's 42 00:03:09,840 --> 00:03:15,919 my two hundred dollars ish offer to launch a podcast. And somebody can want 43 00:03:16,080 --> 00:03:20,680 to launch a podcast, but they might believe that it's too hard, it's 44 00:03:20,680 --> 00:03:23,439 too techy, the equipment's too expensive, so it's not possible for them to 45 00:03:23,520 --> 00:03:29,639 launch a podcast. And until they understand that it's actually quite simple and that 46 00:03:29,680 --> 00:03:34,240 the equipment is quite affordable, they're not going to buy the podcast launch plan 47 00:03:34,360 --> 00:03:37,240 because those things are going to get in the way. Those hesitations they're going 48 00:03:37,240 --> 00:03:42,520 to get in the way now. Usually, but not always, smaller offers 49 00:03:42,599 --> 00:03:45,319 are going to have, so lower ticket offers are going to have less of 50 00:03:45,319 --> 00:03:49,840 a gap between where your ideal client is now and where they need to be 51 00:03:49,919 --> 00:03:52,840 to be ready to buy. This isn't because of the price point. It's 52 00:03:52,919 --> 00:03:58,439 usually because the smaller offer is usually solving a smaller problem or a smaller transformation, 53 00:03:59,039 --> 00:04:01,520 and there's less of a knowledge gap between where they are now and where 54 00:04:01,560 --> 00:04:04,719 they need to be to be ready to start solving that problem or achieving that 55 00:04:04,759 --> 00:04:12,039 transformation. The second part to my answer is where you talk about the urgency 56 00:04:12,240 --> 00:04:16,720 now, it's urgency and a launch is a really interesting thing because a lot 57 00:04:16,759 --> 00:04:21,199 of people believe that we have the urgency there to pressure somebody into buying in 58 00:04:21,279 --> 00:04:26,839 a launch, and it's not actually about pressuring somebody to buy. Humans are 59 00:04:26,839 --> 00:04:31,639 procrastinators. Our brains are wired to delay pain, and spending money can feel 60 00:04:31,680 --> 00:04:36,079 really painful. And then couple this with the pain of making some kind of 61 00:04:36,079 --> 00:04:42,319 behavioral change. So starting to take action on solving whatever problem they're experiencing or 62 00:04:42,600 --> 00:04:46,879 achieving the transformation that your offer helps them to achieve, they're going to put 63 00:04:46,920 --> 00:04:50,360 off making a decision for as long as they possibly can. So it's not 64 00:04:50,399 --> 00:04:56,839 so much about having urgency as it is about having a deadline for somebody to 65 00:04:56,959 --> 00:05:00,480 make a decision. It's not about pressuring them to make a decision, but 66 00:05:00,480 --> 00:05:02,839 it's more about saying, hey, you need to make a decision either way, 67 00:05:03,120 --> 00:05:06,040 and here's a deadline for you to make it so that you don't just 68 00:05:06,120 --> 00:05:11,279 keep kicking the can down the road forever. Now, when you are teaching 69 00:05:11,319 --> 00:05:15,399 a live workshop like you mentioned your question, a fifty seven dollar workshop that 70 00:05:15,480 --> 00:05:18,839 has natural urgency built in because the workshop is live, so somebody has to 71 00:05:18,839 --> 00:05:23,680 buy it before the live workshop happens. Otherwise they're only going to get the 72 00:05:23,680 --> 00:05:26,639 recording, they're going to miss out on that live event. But you can 73 00:05:26,680 --> 00:05:31,079 also have other deadlines like bonuses, expiring, price increases. Those all make 74 00:05:31,120 --> 00:05:35,319 really nice deadlines as well. It doesn't just have to be this door's open, 75 00:05:35,560 --> 00:05:39,600 doors closed. You can't ever sign up again after doors are closed, 76 00:05:39,680 --> 00:05:43,560 or you have to wait until the next intake right now. The exception, 77 00:05:43,680 --> 00:05:46,680 there is one exception when it comes to having that deadline, and that is 78 00:05:46,720 --> 00:05:53,160 when they are in a really painful situation and your offer delivers some kind of 79 00:05:53,160 --> 00:05:57,199 immediate relief. A good friend of mine, Riz from Found Legal, she 80 00:05:57,319 --> 00:06:00,199 was also a guest on this show a couple of months ago. She has 81 00:06:00,240 --> 00:06:04,439 a copycat kit. So she's a lawyer and she has a copycat kit where 82 00:06:04,519 --> 00:06:09,600 if you've been ripped off, if somebody's copied your staff, the copycat kit 83 00:06:09,720 --> 00:06:14,639 delivers that immediate relief. That's a product that somebody's not going to buy during 84 00:06:14,800 --> 00:06:17,720 a launch, right, It's something that somebody's going to reach for when they 85 00:06:17,800 --> 00:06:23,639 have that problem, and it's really painful in that particular moment. That is 86 00:06:23,680 --> 00:06:26,959 like the one exception that I would say where you don't need to have some 87 00:06:27,160 --> 00:06:30,720 kind of deadline. Okay, then we want to look also at the bigger 88 00:06:31,000 --> 00:06:35,199 picture of this launch. Now, we want to think a little bit more 89 00:06:35,199 --> 00:06:41,079 about lifetime value rather than just about sales from that one particular launch, Because 90 00:06:41,120 --> 00:06:45,839 you would have to sell a hundred of your fifty seven dollar workshop to make 91 00:06:45,879 --> 00:06:48,560 five seven hundred dollars from that launch. And that is fine, right, 92 00:06:48,800 --> 00:06:51,399 if you're early on in your business, that's probably going to be a nice 93 00:06:51,480 --> 00:06:57,439 chunk of revenue. But I always like to remind my students to keep their 94 00:06:57,839 --> 00:07:01,600 expectations quite realistic when it comes to lower ticket offers because they're not likely to 95 00:07:01,680 --> 00:07:06,560 be a huge revenue driver unless you have a large audience. A launch of 96 00:07:06,720 --> 00:07:13,839 a lower ticket offer is probably not going to be a massive revenue launch unless 97 00:07:13,879 --> 00:07:16,360 you have that huge audience, unless you're getting it in front of all of 98 00:07:16,399 --> 00:07:20,519 those eyeballs. So you really need to think about what is next after this 99 00:07:20,680 --> 00:07:25,839 offer. I know you mentioned in your question there's no next step, there's 100 00:07:25,839 --> 00:07:29,920 no high ticket offer as part of it. But the people who are attending 101 00:07:29,959 --> 00:07:33,800 that workshop, they're probably going to finish that workshop wondering how else can I 102 00:07:33,839 --> 00:07:39,079 work with you? What's that next step? So give them a next step? 103 00:07:39,600 --> 00:07:42,160 And if there is that next step, then you need to be mindful 104 00:07:42,360 --> 00:07:46,680 in your overall launch strategy. So including in that launch for that lower ticket 105 00:07:46,720 --> 00:07:49,399 offer, you need to be mindful that you are bridging the gaps a magician's 106 00:07:49,439 --> 00:07:55,199 gap, which I call it that knowledge gap for the next step offer as 107 00:07:55,240 --> 00:07:59,000 well as that lower ticket offer, so that when you present them that next 108 00:07:59,000 --> 00:08:01,519 step offer, they're to take that next step. They don't have a huge 109 00:08:01,560 --> 00:08:05,759 knowledge gap that needs bridging there as well. And another thing to consider as 110 00:08:05,759 --> 00:08:11,600 well with lower ticket launches is up cells and order bumps, So that can 111 00:08:11,680 --> 00:08:16,480 increase the average order value when somebody's buying, so they're not just spending fifty 112 00:08:16,519 --> 00:08:20,879 seven dollars. They might be adding on some extra things to their purchase which 113 00:08:20,959 --> 00:08:24,680 might bring them up to one hundred dollars or even potentially more. So. 114 00:08:24,759 --> 00:08:28,720 The difference between an upsell and an order bump. An auto bump is usually 115 00:08:28,720 --> 00:08:33,039 something that's quite low ticket, like you know, seven dollars, twenty dollars, 116 00:08:33,120 --> 00:08:37,120 something like that, and they can tick a box at checkout to add 117 00:08:37,159 --> 00:08:39,519 that to their order. An upsell is potentially going to be something that's a 118 00:08:39,559 --> 00:08:45,200 little bit higher ticket than what they've already purchased, and it's presented to them 119 00:08:45,279 --> 00:08:50,360 on a separate sales page or a separate one pager after they've already completed checkout, 120 00:08:50,399 --> 00:08:52,039 and they can still just press one button to add that to their order. 121 00:08:52,120 --> 00:08:56,799 So that's how I differentiate between those two and the last part of your 122 00:08:56,879 --> 00:09:01,919 question, you ask how I approach lower ticketlaunches in my business. Now, 123 00:09:01,320 --> 00:09:05,639 we haven't launched a true low ticket like sub one hundred dollar offer in a 124 00:09:05,679 --> 00:09:13,039 while. Offer Less Selmore's probably the most recent lowish ticket offer that we launched, 125 00:09:13,399 --> 00:09:16,200 and the first time that we launched it at the end of twenty twenty 126 00:09:16,200 --> 00:09:20,399 two, it was a one hundred dollar workshop that I taught live, and 127 00:09:20,559 --> 00:09:22,759 I didn't do a webinar to launch it. I didn't do a huge fancy 128 00:09:22,840 --> 00:09:26,960 launch. I launched it to my email list with a series of cut open 129 00:09:28,039 --> 00:09:31,279 emails. I had been doing some podcast content around that topic in the lead 130 00:09:31,360 --> 00:09:35,639 up, but I already have a very warm audience, and I knew that 131 00:09:35,720 --> 00:09:39,279 this was something they were really struggling with. I know that they already trust 132 00:09:39,320 --> 00:09:43,440 me, so it was a pretty easy yes for the people who are on 133 00:09:43,440 --> 00:09:48,000 my email list. Then after I taught that live workshop, I recorded it, 134 00:09:48,039 --> 00:09:50,320 I turned it into a course, and we've launched it twice this year 135 00:09:50,360 --> 00:09:56,159 already with live webinars. And while we haven't really done a massive lead up 136 00:09:56,360 --> 00:10:01,120 in those launches, you'll also notice that a lot of my podcast content is 137 00:10:01,200 --> 00:10:05,120 bridging the gap between where they are right now and where they need to be 138 00:10:05,159 --> 00:10:09,480 to be ready to buy off a less sell more. And also the webinar 139 00:10:09,600 --> 00:10:13,879 that I've launched it with has bridged that gap. So free webinar has bridged 140 00:10:13,919 --> 00:10:16,240 that gap between where they are now and where they need to be to be 141 00:10:16,320 --> 00:10:20,840 ready to buy off a less cell more. And now we're in the process 142 00:10:20,879 --> 00:10:22,759 of turning that evergreen. We've li've launched a couple of times. It's been 143 00:10:24,039 --> 00:10:28,559 converted really well, so now we're putting it into an evergreen funnel where somebody 144 00:10:28,559 --> 00:10:31,960 can watch that recorded webinar. They can still get bonuses as if it were 145 00:10:31,960 --> 00:10:35,840 a live launch, but those bonus deadlines are based on when they watch the 146 00:10:35,879 --> 00:10:39,639 webinar, so it's as if it's live, but it still has those real 147 00:10:39,720 --> 00:10:45,240 deadlines. They're not fake deadlines. There are real deadlines. So that's a 148 00:10:45,279 --> 00:10:50,240 little bit of an insight into the back end of our lower ticket launches. 149 00:10:50,639 --> 00:10:52,480 Thank you so much for this question, Morgan. And if any of you 150 00:10:52,639 --> 00:10:54,960 have a question, if you're listening to this and you're like, oh, 151 00:10:56,039 --> 00:10:58,120 I'd love to hear Steph's opinion on this, or do you have a particular 152 00:10:58,120 --> 00:11:01,159 situation that you're like, you know, it's churning around in your head, 153 00:11:01,480 --> 00:11:07,879 submit those questions. Steph Taylor dot com slash asks Steph and I will answer 154 00:11:07,879 --> 00:11:09,720 it. You could submit them anonymously as well, if you don't want to 155 00:11:09,720 --> 00:11:13,759 put a name to it. I love reading the questions that are submitted. 156 00:11:13,960 --> 00:11:18,440 I also love reading your reviews that you've been leaving in Apple Podcasts. So 157 00:11:18,720 --> 00:11:20,720 if you have thirty seconds, leave me a quick review. It means a 158 00:11:20,759 --> 00:11:24,919 lot to me because I spent a lot of time creating and recording these episodes, 159 00:11:24,960 --> 00:11:28,519 and sometimes I feel like I'm just talking into a microphone. So please 160 00:11:28,600 --> 00:11:33,600 do leave those reviews. I've read every single one of them. Thank you 161 00:11:33,639 --> 00:11:35,279 so much for listening. Catch you next time.