4. Premium Promotions | $100M Lost Chapters Audiobook
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This episode is titled:
4. Premium Promotions | $100M Lost Chapters Audiobook
Notable Quotes
"The idea stunned me for a moment as I tried to wrap my head around the size of that number."
"The biggest advantages with premium offers is the size of the ticket you can sell."
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Get More InsightsEpisode Summary
In this episode, the speaker delves into the power of premium offers in business, highlighting a story about a $50,000 burger to illustrate the vast differences in income and purchasing power. The main takeaway is that while many businesses focus on lower-priced offers, premium offers allow entrepreneurs to achieve much more profitability with significantly fewer sales.
The discussion covers how businesses making $10,000 per sale with high profit margins can achieve superior results compared to those making $100 per sale, emphasizing that fewer, high-quality leads can yield greater profits. The speaker suggests that if starting from scratch, it's advisable to include a free or discount model initially to build a reputation before transitioning to premium offers.
The episode also outlines the pros and cons of premium offers. Pros include simpler math, dealing with more qualified clients, and the higher profits associated with fewer sales. On the downside, premium offers have a higher cost per lead, require strong copywriting skills, and need a well-structured sales process.
Towards the end, the speaker emphasizes that premium offers should be compelling and packed with additional value to justify their cost. This strategic approach can transform business operations and significantly enhance profitability while reducing the volume of clients needed to achieve financial goals.
The discussion covers how businesses making $10,000 per sale with high profit margins can achieve superior results compared to those making $100 per sale, emphasizing that fewer, high-quality leads can yield greater profits. The speaker suggests that if starting from scratch, it's advisable to include a free or discount model initially to build a reputation before transitioning to premium offers.
The episode also outlines the pros and cons of premium offers. Pros include simpler math, dealing with more qualified clients, and the higher profits associated with fewer sales. On the downside, premium offers have a higher cost per lead, require strong copywriting skills, and need a well-structured sales process.
Towards the end, the speaker emphasizes that premium offers should be compelling and packed with additional value to justify their cost. This strategic approach can transform business operations and significantly enhance profitability while reducing the volume of clients needed to achieve financial goals.
Key Takeaways
- Premium offers can lead to significantly higher profits with fewer sales.
- A free or discount model can help establish a reputation before shifting to premium pricing.
- Fewer, high-quality leads are easier to manage and often lead to better client relationships.
- The sales process for premium offers must be structured and compelling to justify higher prices.
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