Dec. 29, 2020

Episode 7: The 5 Types of Offers Your Business Needs

Episode 7: The 5 Types of Offers Your Business Needs

Are you planning out your launches for the new year? On today’s episode, I am sharing the 5 types of offers your business needs if you want to make a bigger impact, and reach a wider range of your audience. If you want to have even bigger launches, and help more people in 2021, you don’t want to miss it!


Are you planning out your launches for the new year?

On today’s episode, I am sharing the 5 types of offers your business needs if you want to make a bigger impact, and reach a wider range of your audience. 

If you want to have even bigger launches, and help more people in 2021, you don’t want to miss it!

BY THE TIME YOU FINISH LISTENING, YOU’LL LEARN:

  • Why having a range of offers is the key to maximising your audience
  • The biggest mistake you are probably making with your freebies
  • How to get more clients into your high end offers
  • The easiest way to spread your message across multiple offers.

Also don’t forget to check out the shownotes and snag our free ebook digging into the 5 reasons your offers aren’t converting! www.thelaunchfixpodcast.com/episode-7-the-5-types-of-offers-your-business-needs/

When you finish listening, I'd love to hear your course idea! Take a screenshot of you listening on your device, share it to your Instagram stories and tag me, @jess.oconnell_ ! 

Slide into my DMs, I’d love to hear what your biggest takeaways are!


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Transcript

Are you planning out your launches for 2021. On today's episode, I'm sharing the five types of offers your business needs to grow and scale in 2021. And if you're an online coach or course creator, you don't want to miss it. I'm just after launching dozens of courses and generating multiple six figures in Revenue Online, I have learned the right and wrong way to launch an online course. And in the last two years, I have helped my friends and clients generate more revenue with less stress using my aligned Launch Formula. On this podcast, I'm sharing with you my simple strategies and systems so you can make more money online and make a bigger impact on the world. Keep listening for the launch fix podcast. Hello, and welcome back to the launch fix podcast. My name is Jess and I am your host. And if you're at all like me right now, it is already been Christmas, New Year's is right around the corner and you are probably in planning mode, you're maybe setting goals you're looking at the next year and really planning out what you want your lunches to be, you're probably planning out your offers, mapping out your lunches.

And these are all things that I am doing right now in my business too. It makes sense, right? The New Year is coming. So it's time to take a look and figure out what the plan is for the next year. And for me and my business, we are structuring our offers in a new way in 2021. After looking at the last couple years of my business, I really started to ask myself, what is my core value? What is something that I value more than anything in my business and more than just one? What are my set of core values, and accessibility came up time and time again as something that I deeply care about in my business being accessible to the people who want my help and who are ready to receive my help. And that's something that I really am going into 2021 with on the front, the forefront of my mind is accessibility. So doing so I am creating multiple levels of offers for people to work with me and to learn from me. And that's something that's really important to me. So my offers typically, since I started my business have been mid end to high end with very low on the low end, my high end offers tend to be high touch and take a lot of my time like one on one coaching. And my mid level offers tend to be a smaller group of people with live calls and coaching. But I really have not had anything below that except for my free content with Instagram and my podcasts.

But nothing they're in that middle zone where you could pay to work with me or learn from me, but not as much as it would be if it was like a group coaching program. And I really didn't have a truly leveraged offer. And a leveraged offer, in case you're not familiar is something that doesn't require any transfer of time for money. So if you're a service based entrepreneur, and you literally do things for people like in the done for you space, you're familiar with the time for money concept, right? The amount of time that you work is directly correlated with the amount of money that you get. And this is true for coaching as well. When you have one on one clients, your time is how you make money. And the opposite of that is a leveraged offer something that you can create one time and sell over and over and over again, to make more money without having to put in any more time. And that's something that I have learned in my business. And I've tried to create my business, but I've never really mastered. And so that's something that's on my list to create in 2021 leveraged offer.

And what makes it really powerful is that it truly is scalable. Something where your time is your currency is not that scalable, because you're gonna run out of time. And anything that has a life coaching component or a done for you component, you're going to hit that wall of how much you can do in order to grow. And so by creating a leverage offer or multiple, like you're going to hear from me today, you can really maximize your opportunity to make money without spending any more time. And if you are somebody who is looking into the new year and your goal is to work less and make more and disconnect a little bit from the time part of your business and have a little bit of that time freedom that you want. This is something that's going to make a big difference for you in 2021. So next year, we are introducing a range of offers that go from fully leveraged, like complete self paced. I don't have to Do anything besides create the program to very high touch, and I'm really excited for this spread. Because as somebody who works with other entrepreneurs and purchases programs, I love having that, like range of things that I can invest in. If I'm just getting to know somebody, I can buy their $29 offer or their $59 offer, and really get a feel for them, and then decide if I want to spend 500 or $1,000 $3,000 with them.

And I love that I have that opportunity to really kind of try before you go all in. And so that's something that I'm looking to create in my business as well. And if you look at some of the most successful entrepreneurs, they do have this range of offers to serve their audience where they are at. Even if you look at somebody like James Wedmore, he has lower end offers that are in like the 90 set like 97 $99 range, going all the way up to his program, business by design, which is $3,000, and then all the way up to his mastermind, which is a lot more than that. And by having that range, it gives people an opportunity to get started with him and then work up through his customer journey to be in his sphere even more, right. And there's lots of entrepreneurs I can think of that have offers like this. So this is how I have structured my offers for next year. And that's how I'm going to teach you what to do today.

So if you're trying to create a customer journey that's really intuitive, and works people from where they're at to where they want to be, this is going to be a really great episode to teach you how to do that. And you can implement this into your business going into 2021 as well. So in my opinion, there are five types of offers, your business needs to reach all levels of your audience, to reach the people who are brand new to you to the people who were absolute raving fans. And I think it's important to want to reach all people at those levels, right. And so at the very, very base, and this is not counted in the five. But the very bottom level of my Ascension plan basically, is this podcast, this and the blog are going to be the primary areas where I'm giving away free content to get to know you teach you some things and have you get to know me a little bit better. And then one step up from that. And I think that at the base level of any Ascension plan, your business needs a free offer, ooh, you might be thinking is that just like a freebie? Kind of. I think the biggest mistakes that people make with free offers is not treating it like it's an offer. But it really is an offer. And if you don't treat it like it has value, your audience won't either. So I see so many people creating so many random freebies, just because they feel like they have to to grow their audience and it doesn't have any direct correlation to where they're leading them. And that would be like giving somebody in a scavenger hunt, the first place to go that has absolutely nothing to do with where they're going ultimately, at the end of the scavenger hunt, right?

It's totally random. And it doesn't actually qualify people who you want to have in your audience. And so by being strategic and treating your free offer as an offer, not only will you start attracting your aligned audience, but you'll actually give people some value that will encourage them to continue to work with you. So your free offer serves two purposes. The first one is engaging with your audience. One of the biggest things that I teach my clients is to create a free offer to really kind of wake up their audience and see who the people are that are interested in working with them. You don't own your audience. And I'm sure you've heard this before on social media, you do not own your audience. But if you can get them to engage with you and to take the next step in hand over their email in order to receive something, they then become an engaged audience member. And you can then contact them in the way that you desire to, I like email. And you can start to build that relationship a little bit deeper. It's like that handshake when you can get somebody to engage with your content and download your free offer. And the other piece of this is to qualify your audience. And this is something that I do in every launch is by creating a free offer that directly correlates with the offer that I'm going to be making at the end of the launch.

I can qualify my audience and say, okay, you have the problem that I'm going to be solving. And then you can really segment your audience. speak to them more specifically, really nail down your messaging with those people and create even higher conversions, because you're only launching to the people who are your warmest audience for that offer. So qualifying your audience has a ton of value. in understanding who your people are, where they're at and what problems they are looking to have solved, your free offer when you're creating, it should answer a burning question your audience has that directly relates to the offer that's on the other end of that customer journey. And so in my business, like I said, this varies launched by launch for the offer fix launch, which is coming up soon, it's an ebook about the five reasons your offers aren't converting. And that's because I want to introduce you to my beliefs around offers and what to do to make high converting offers. And that's something that I teach you in my program, the offer fix. So that is why that is the topic of my free offer. So from there, so your first offer is your free offer. From there, your next offer would be a low end paid offer.

So this can be something that I call and is typically referred to as a tripwire, which I highly, highly, highly recommend having a tripwire is a low cost hell yes offer that's presented right after a freebie. So literally, if you think about it, when they put in their email in their name, and they hit submit, right, then it pops up. And it's like, hey, by the way, have you ever wanted to have this problem solved even faster, better immediately, right? It gives them that quick win for a small price. And when you position this offer right after that freebie, you're gonna catch the people who are like, Oh my god, yes, I want to know why my offers aren't converting. And then bam, it's like something that was gonna teach them even more for a low offer, they're more likely to say hell yes, because people want their problem solved. And they want it solved right now. And one of the biggest mistakes that people make in their marketing is getting people on their email list with a freebie and not offering anything to them. For a month or two months or three months, your audience is going to go cold before that happens. The average list age of a warm audience member is only six weeks. So if your audience building for a launch, make sure that you're doing the warmest audience building lake with a free offer in the six weeks before you launch. Because if you're not launching to them in six weeks, they're going to start to go cold. And if you've ever built an audience and then launched to them way later and nobody joined you, it's probably because they lost interest because they wanted their problem solved.

And they wanted to solve six weeks ago. So if you can offer them a tripwire, it offers them that next phase and getting their problem solved, and keeps them nice and warm leading up to your launch. So that is what a tripwire is. And the purpose of this offer this low end paid offer is to give them a tangible micro transformation. And what that is, is it's going to get them that first step in fixing their problem, or it's going to solve a small problem that's causing them bigger problems in the end. And I realized that this might be a little bit confusing. But if you think about your freebie, and then ask yourself, like what is one quick thing that I could help them with, that will get them to that next level, or what is one way that I can deepen this transformation that they can pay for in order to keep going further. So a great example of this is like templates, or mini trainings, or like a spreadsheet that maps things out for people things that provide a transformation and value, while still being like a small transformation leading up to your larger program.

One of the biggest mistakes that I see people making with their low end low cost offers is stuffing them full of stuff, I cannot tell you how many $29 offers, I have bought that end up having five videos that are 90 minutes each and like a 32 page workbook. And at the end of the day, I just want the information, I just want the transformation. And I just paid $29 for it. And I do not have time to watch 590 minute videos and work through a 32 page workbook to get a $29 transformation. And maybe you have seen this advice and you have done the same thing. And you've overloaded your tiny offer with crap that nobody cares about because you think that it adds value. And if you have it's totally okay, because there's some bad advice floating around there. But at the end of the day, when you make a $29 investment in something, you're expecting a $29 transformation, and you have a $29 level commitment. And how many $29 offers Have you bought that you haven't even clicked on in your inbox, right.

And so don't overload your clients with way too much information and create a barrier to get that transformation. They don't care about all of the crap you shoved in this program to make yourself feel better about it. They just want the transformation and I believe in giving it to them as quickly as possible. And simply and quickly as possible. And by keeping your tiny offers transformation focused and simple and fast to get the results, you're going to have more people move through your customer journey with you, because they don't want it to be long winded, they just want the transformation. And so keep that in mind when you're creating an offer like that more is not better. In my business, this is my mini course, the challenge fix in case you're curious. So it has a very quick transformation with a small number of very short videos, that gets you a very tangible transformation at the end of it. And that's what your audience wants, they want a quick answer to a quick problem. And they want it now they don't want to have to find it buried in hours and hours of videos, I promise you, we are busy people. Alright, the next offer that you need is a mid level leveraged offer. That's kind of a tongue twister, a mid level leveraged offer, this offer should give a powerful transformation in a self paced offer. What I really love about this offer is that it gives you an opportunity to create a greater transformation for people and help them achieve it. That's really like a foundation in the bigger transformation that you help.

So for example, in James Wedmore, his business, he just came out with sales page by design, which is his mid level leveraged offer leading to business by design. And so he knows if you need help with your sales pages, you probably could use the whole program business by design. But maybe you can't afford it. Or maybe you're not ready for that yet. So he's enticing you with a program all about sales pages, because he knows that it's a piece of the bigger transformation that you need. And it's also a self paced leverage offers, if you can sell it to more people without having to, like deliver on the coaching aspect of that to more people and it warms people up for that bigger offer. There's a lot of benefits to creating a mid level leveraged offer. And I think that this is something that if you're missing this step in your business, this is a really big one, this is something that I've been missing in my business. And it's something that I'm really excited to introduce because I think it can be really powerful. This also can be evergreen. So evergreen is creating an individualized launch experience.

And you may have been through an Evergreen Launch before and not even realized it because before I understood marketing, I didn't realize that that's what I was going through either. But using ads and email sequences and automated sales mechanism, you can move people through an individualized launch sequence. So it's almost like a little launch just for them. They see the ads, they opt into the sales mechanism, they go through it, this is often a webinar. And that webinar has a pitch at the end, which is your offer. And they have like a follow up email sequence and all the things it's just like a normal launch. But it's individualized. And it's triggered by somebody seeing a Facebook ad or by seeing a post on Instagram or in a podcast or something. There's lots of ways that you can drive traffic to an individualized launch. But that's what it is. So this offer should be fully leveraged, or as leveraged as humanly possible. So a way that you can make it a little bit more high touch is to have like a Facebook group where you support people who purchase the program without any live coaching.

So somewhere that you can answer questions and give support and people can connect with other students. But this is not something where you're trading your time on coaching calls for money. So this offer in my business is the offer fix, which I'm launching in January. And then it'll be going on evergreen using that individualized launch sequence that I just talked about. And I'm really excited about this offer, because it'll really fill in the gaps for people who want to create higher converting offers, but who maybe are not ready to commit to my program, the Aligned launch formula, which goes more deeply into launching as a whole. So from there, you should have a group program. That's the next one. So a group program is a higher level of touch and a deeper transformation. And this is really like your flagship program, or your signature offer, this is the thing that you are known for. And something I want to point out now because I really want to make sure that this is clear. None of these programs offer different transformations. When you become known for something in one straight transformation. You can create a customer journey that walks people all the way through that transformation. Something that I see entrepreneurs doing that's an absolute mistake is building so many different bridges with different transformations. And they try to become the person over here who helps people like nailed their niche. And then they try to become the person over here who helps people with their mindset.

And maybe they're not all connected. And I know this because I was totally that person. I was building all of these things. different programs with different transformations that had different messaging and different methodologies. And it wasn't actually leading people down a road to working with me. And what your customer journey should do is each offer should walk them to the next offer, it's kind of like going down a rabbit hole, each level leads to the next level. And if your offers are not leading down a clear path, people are going to get lost, or they're going to go through one offer and be like, I'm not really sure I'm the ideal client for that next offer, and they'll fall off of your journey. And so you want to have a cohesive journey with a consistent transformation. And you can create offers that are tighter, tinier pieces of that transformation, but should all be leading people down the same path. And this is what you are known for. And when you become known for that thing, it makes this customer journey way freaking easier. So with this high touch, higher level offer this group program, this is something that in my opinion, you should launch live. And the reason is because live launching has a totally different energy than an individualized Evergreen Launch.

People build massive amounts of trust, and community when you go through a live launch. And this is something that you really can leverage going into this offer. When you connect with the people that you're launching to and that you're helping with this offer, it just deepens the experience for them. So this can either be fully live or partially leveraged, but with a higher level of hands on support. So whether you have a certain number of group coaching calls, but you also have recorded modules, or maybe you deliver the whole thing live, the intention is that it's a larger group of people than like one on one. But you're delivering a mid level, tangible offer, right? This is where you are giving it all but not as much as if they worked with you one on one. So in my business, this offer is the Alliance Launch Formula. And it is a group program where I work with people to teach them my Alliance launch formula, which is the five phases of launching, but also having that hands on support and accountability in learning not. And this takes us to our very top level, which should be your highest touch highest level offer. And for a lot of people, this is going to look like one on one coaching, or small group coaching or maybe done for you services, if you're in that done for you space, whatever fits most into your business, this puts you back into that time for money zone. Because the more time you spend with these people, that's how you make your money, right. It's a high touch offer.

And this offer really takes your transformation to that next level for the people who want more support. And one of the biggest mistakes I see people make is thinking that people want a low priced offer right? thinking, oh my god, nobody wants to pay for that. But at the end of the day, I think more people want to pay for high end for high touch than we think. And here's a really kind of weird but relevant example. The other day I was driving around our local mall and I saw the back of a semi truck was open and there was a big sign on it that said Philemon neon to for $12. And I saw that and I was like, that's a little bit sketchy. Right? And at the end of the day is $6 for Philemon, neon a good deal. Yes. Does that mean I want to eat it? No, I would so much rather go to a steak house and pay $50 for a Philemon yawn. Because I know it's not going to be rotten. No, it's gonna be good and well cooked and delicious. And it is worth it. The $50 filet mignon is a better offer than the $6 out of the back of a semi in a mall parking lot, right? You would be surprised to see how many people would rather have the Philemon neon at the restaurant and pay more, because the offer is better. And your offers are the exact same way. People want more more often than they don't want it at all. And more people are gonna say no to working with you, because it's not enough than they would that it's too much. And so when you're pricing your offers, and you're creating this high touch high end offer, keep in mind that there are people who are looking for that level of support.

And if they're not ready yet, that's why you have those other offers, right? That's why you have that low end, low touch offer that you can bring people in and then get them to that next level. And not everybody is going to get there right? Not everybody is going to make it to your one on one and your high touch group coaching program. Right and that's okay, that's kind of the point. It's an exclusive group of people who want that level of support, and you can support them in that way at a higher price point. So one of my favorite things to do is to position this offer right alongside your flagship offer. And what this does is it creates a price anchor and And upsell, because like I said, there will be people who go through your launch, we're like, ooh, I want more, I want to work with her one on one, I want to be in a tight group, I want more, right, so you'll accommodate those people. But in addition to that, the other side is it creates what's called a pricing curve. And so they see a high level offer next to the flagship offer. And it makes the flagship offer seem like an even better deal. For example, with James Wedmore.

His program business by design is 2997. And his upsell when I purchased it was his next level, which was 14 997. So 14,997, and next to 15, grand three grand seemed like a hell yes. Right? Because it's so much less because of that anchor. And so when you can give people that opportunity to say, yeah, I'm ready for the 15 grand, awesome, right, then you have those people join you. But you also have the opportunity for people to see it and be like, ooh, I could be paying 15 grand for this, but it's only three. And that seems like a really good deal. And so your higher end offer will provide that too. It'll create this anchor that will make your price seem even more reasonable. So there you go. To recap, those are the five offers that you need in your business a free offer and actually treat it like an offer a low end leveraged offer a mid end leveraged offer, which you could do evergreen, a group program and a high end high level offer. So this will give your clients the opportunity to work with you at all levels and grow through your programs no matter where they are starting. And that is the vibe in 2021. That accessibility, that showing up for people at the level that they are at. So if you haven't already, definitely check out that free ebook that I have about the five reasons your offers aren't converting.

If you're not reaching your launch goals, or you just want to increase your conversion rates. This ebook will walk you through the five biggest reasons your offers aren't converting and how to fix it. Also, if you've enjoyed the podcast so far, I would really love to hear your feedback in our review on iTunes. So you can just click the five stars. And leave a little love note to let me know what you're resonating with so far, they really go a long way in helping podcasts get seen. So I appreciate it if you've already left one. By the way, if you are ready to dig in and create your own high converting offers, you don't want to miss out on our next episode. We're doing a workshop style exercise to make over your existing offer to increase the conversions. It's going to be pretty great. Thank you so much for listening and happy new year and I will see you in my next episode.