You Don’t Have a Lead Problem. You Have a Traffic Problem | Ep 954

0:00Welcome back to the game. In this episode, you're going to hear two conversations. The first is with a sexual health medical practice. They're currently doing 3.8 million and want to get to 10 million in revenue. Here's what we broke down on this call. Number one, how to fix the traffic problem that was exposed when they added friction to the funnel, which is one of our first pieces of advice. Second, we unpack the easiest and fastest ways to figure out which content attracts the buyers, not just viewers. So you can create the same content that produces the highest quality leads. Now, the second company is a data consulting firm that does about 500 ,000 and wants to get to$1.2 million.

0:30in revenue per year. Their biggest constraint was lead flow and pricing strategy. So we walked through number one, a new lead magnet and constant strategy to attract enterprise buyers on LinkedIn. And then number two, how to pivot from hourly billing to charging based on ROI that the customer is getting so they can actually double revenue of the business without adding any more customers. I hope this is super valuable for you. Enjoy. Hi, hi, Alex. My name is Dr. Ann Truong. And so I'm a medical doctor. We specialize in sexual health. And currently we're at 3.8. Would like to get to 10 mil or more a year.

1:08And so what is stopping us is that we, I use your AI. And it says that we don't have a traffic problem because all my traffic come from YouTube. is really more of acquisition problem. And so after talking to you a few months ago, we started putting in our application. So we have a funnel that has an application with questions that qualify and disqualify. And then through a calendar with then schedule with our sales team. So what happened was that we ended up getting a lot of disqualified applicants, which we then downsell supplements for in our online coaching program. But that doesn't make as much money as our in-office treatment, which is from$15 ,000 to$20 ,000 as well, which we really want to focus on.

2:09So the question is, are we doing something wrong in that application process? How can we get more qualified, high ticket applicants to the sales call? Okay, two things. So what we had trouble in the past was that we had too many in the sales call that weren't qualified. Now we don't have enough. And, you know, how do we fix that? You're saying you don't have enough? So you added friction and you have disqualified people who are booking. Did the percentage of qualified people go up when you added friction or down? Oh, no, go down. The percentage went down? So you got more unqualified people by adding friction to your process?

2:49Yes. That makes no sense. Yeah. Well, we just put in filters that's like, you know, this is not insurance covered. You know, this is the price. And they could know that they don't want to move forward. So that would disqualify it. That was the only two disqualifiers we had. That was it. But those people got disqualified. so you didn't have to talk to them. Well, they get disqualified. They don't get to the, they don't get, they don't see the calendar to schedule with our sales team. That's good, right? That means the percentage of qualified on the calendar went up, right? Well, you know, compared, no, not necessarily.

3:30How? Hold on, hold on. What are we talking about here? No, no, listen to me. Listen to me. Listen to me. How is that possible? If you say there's 100 people, half of them are disqualified, they hit the disqualified button, then half of them that come through are not disqualified anymore. That means the percentage goes up. I want to make sure we're talking about reality here. Like, are we on the same page? Percentage went up. Not absolute, percentage. Yes? I want to help. You're just making my job hard. So percentage went up, correct? Yeah. Okay, percentage went up. So are we saying that the absolute amount went down?

4:01Yes. Great. Now, of the people that did show up to the call, were they more qualified than before? Well, you know, our close rate were better. Okay, so the quality went up. Yes. Okay, so the reason I'm orienting you is so that we can actually solve the input-output problem. So you had too much flow. We added friction. That increased the quality of the throughput, but then it decreased the amount, which means mission accomplished. The next thing we have to do is drive more in the front end so that we can have a higher absolute amount of throughput that's all quality, right? Yeah, that makes sense.

4:32Okay, two options. You can do them both. Option number one is that the type of content that you're making needs to better cater to the avatar that you're looking for. How do I know that? How do I find that out? Well, one, the easiest thing you can do right now is email all of your existing customers and give them some sort of prize, some sort of giveaway, something to get them to respond. And say, hey, what piece of content you come in on or what type of content, if that's easier. And you can have probably four or five buckets of content you currently make. And they will tell you which one it was.

5:09on the sales call you can also add a question what type or what video got you uh here because that'll start orienting what type of thing now you're also in person so like when i ask people who show up uh at a workshop here in person i say hey what type of content do you like if i say hey do you like a brutally honest video that's about mindset things like that there's a certain percentage that are there but if i say hey do you like the cash guys video where i do a breakdown of the businesses the entire room's hands raised and that's a room where the average person's doing and$4 million a year.

5:36Those videos do less views than me talking about general mindset stuff, because it's just a smaller audience. Gotcha, I know what they're talking about. Yeah, so number one. Email the list, got it. Yes, to figure out what type of content translates to quality, not quantity. Quality. Okay? That's thing one. And then thing two, and you're YouTube, mostly YouTube, correct? Yes. Okay, got it.

6:05But how big is the following you have on YouTube? 150 ,000. Okay, it's probably big enough. Have you run meta ads before? We did. We ran meta ads, and the applicants weren't qualified, so we kind of stopped doing that. We're trying to do YouTube retargeting ads to the people that watch my video, and then we got shut down by Google in three days. Because it was sex-related, right? Yeah. Yeah, so I think that if you audit your page to make sure that it's compliant and try and relaunch it, that's probably a good idea. The retargeting is going to be kind of the low-hanging fruit because these are people who already clicked over there.

6:44And so that's just going to nudge them along the funnel. But the real unlock for you is going to be paid ads on either Meta or YouTube or both. I think that Meta will be easier for you to crack even though you have a YouTube audience because those people also have Instagram and Facebook accounts. And I'm going to bet that when you ran the meta ads before, was that before you did this process of adding friction? Yeah. Right. So it makes sense. So you ran basically open targeting to something that had no funnel for friction. We now have fixed the sales process. So we fixed that problem. Now we have to fix the traffic problem.

7:17So we're going to increase the quality of the traffic with the type of content you're making. And we're going to increase the quantity of traffic by soliciting the audience more times and more places by running ads on meta and YouTube. and running them throughout now, better converting process by percentage. Okay, so you view that meta is appropriate. Yeah, 100%. People who are there, well, I think it'll be easier. Meta is just, I would say, is easier for people to crack when they're starting. Okay, got it. And then run them through the same funnel. We can certainly try it. And let me tell you the type of content that you should use.

7:47So do you make shorts? Uh-huh. Okay, find the shorts that are save-worthy rather than share-worthy. All right, so the type of things that are like lists of processes and steps, stuff where you really teach stuff that did medium well, those are typically going to be the ones that have the highest purchase intent. Do you have an Instagram? Yes, we do. Do you post your reels there? It's really repurposed. Yeah, that's fine. That's fine. My long-form content to Instagram. That's fine. I want you to look at the last year. Look at the one that has the highest saves to likes percentage, so the most saves, and run the top 10 % of those as ads on Meta and then direct them down the funnel that we just fixed.

8:31And if you want, do people fly in for your services or no? Uh-huh. Okay, then fine. You can run it national. Yeah, they come from all over. Great. Then yeah, you can run it as a national play. Yep, run it as a national play. Okay. Great. Yeah. We fixed one problem. Now we have the next one. Yeah, perfect. You got this. Thank you so much. You bet. But all right, I'll talk soon. Good luck. I'll see you on the inside of the group. All right, see you. All right. Let's roll. Rock hard, pun intended.

9:09We had to get there. We had to get there. All right, caller, what's your revenue? This is Reed, am I up? Reed, you're up, man. Give me the rev. The rev, the prob. and the business. All righty. We're a data consulting company that sells services. We do about 500K. I'd like to get to 1.2 million. Okay. Our biggest issue is leads, leads, and leads, and then making them, you know, see the message and reflect at a business problem that they recognize. Okay. How are you getting leads right now? It's been 99 % referral till about, it's still 99 % referral, But I have now turned on, I'm doing content on LinkedIn.

9:54I'm doing LinkedIn ads. I'm doing a cold email that I'm trying to start. It's not started, but I'm trying to do that as well. So right now, for the last 12 years, I've run my company off referrals. I haven't really sold anything. So my question is, is really around the best way to generate leads from a tech source that the message is really hard. I mean, selling data, services, no one thinks they need it. Everyone thinks they need AI now. Luckily, I think a couple webinars ago, you had said, somebody asked you a question about AI. And you said, you need a good architecture. You need a data infrastructure.

10:33Yes. You were like, can I clip that? And we were like, no, you can't. Yes. Okay. So what size companies are you selling? I'm trying to do mid-tier, around 500 people. I worked for - It's all enterprise. So it's all enterprise. Enterprise, but it's so hard to actually make a difference there. There's so much overhead and troubles. And trouble. Okay, got it. So functionally, what is the dollars and cents output of what you do? Like, I pay you money. What money do I get back? And how do I make it back? Some of the stuff, like we can help you with cloud, reduce your cloud costs. So you can reduce costs.

11:15That can be pretty great. But I mean, it can be from, I don't know, 10 ,000 to 100, couple hundred thousand. Okay. I mean, how do you charge? It's turning your systems around. Say that again? How do you charge? Hourly. Hourly? Hourly consultants. Oh, dear me. My God. Let's just get you to 1.2 million and get you no more customers and just change how you bill. How about that? I can handle that. Okay. So, okay. So a couple of things. So number one, I think you making content on LinkedIn is a good idea. I think that you should talk like data no one cares about. I mean, yes, people care about it. But no one's like waking up in the morning being like, oh, give me my data.

11:59I mean, I'm that way. But, you know, I'm an oddball. What we want to talk about is the benefit of data, right? We don't want to talk about the plane flight. We want to talk about the vacation. We talk about Maui, not how we're going to get there. The TSA checking our bags, taking our shoes off. That's the data. What the data gets us is what we got to talk about. So your content needs to be taught. Like what you should be doing in your content is the demonstration of what occurs as a result of your services. And that's where a lot of the content is around ROI. So I'm trying to drive that because for the longest time I targeted tech people.

12:30The tech people never have buying power. So it was always impossible to go. So now I'm trying to talk at a higher level of return on investment because so many people do so much tech stuff that just doesn't provide any value to the business because they don't think they have to, the tech side. That's why I'm trying to not talk to those guys. Yeah, so ROI content, number one. I think that you should have CTAs in the content that generate inquiries that should get people to, like, do you give away a widget or an assessment of any kind? On the website, I'm trying to do a data ROI meeting so I can kind of give you that kind of information.

13:06Let me give you a really sexy thing. Let me give you a really sexy thing. I want you to give away five. Is this in the street? Oh, yeah. No, this is going to be sexy. I want you to give five one-on-one calls away for free as the offer. Okay. Now, there's an asterisk there that it's only for companies that meet your criteria. Okay. And you probably have to take those calls anyways for a qualified lead. But the thing is, for you to have a very high-value lead magnet, I think so many of these are going to be so specific to the tech stack they're using and all the other nonsense that we have to come up with something that people can appreciate as valuable.

13:38And so we say, hey, I'm going to give away five one-on-one calls. Everyone understands that five hours or five 30-minute sessions is value. Like even at the most basic manual labor level, there's value there that someone can get. And so I think the CTA of that will be a great way because then it'll give you five conversations. You can tie in multiple stakeholders, and you can actually look at an enterprise-style sale. And it all works. All you have to do is set the frame at the beginning of this. It's like, hey, to be clear, are you good with me? As we walk through these five calls, at the end of the fifth call, I'll explain kind of how it working with us might look like.

14:07in the meantime, I want to just provide you a lot of value. They're going to say yes, and it's great. And that sets up the conversation so that you can't break their beliefs around it. The big step here is that we want to take those calls to talk about what is going to happen, not how to do what is going to happen. Do you get the difference? Yes, yes. Right, exactly. We're going to describe it, not explain it. And that's how you reset beliefs. That's how you get people excited about what's going to happen. As soon as you get into like, we're going to click here, they're gone. They don't give a shit, right?

14:35So number one, I've got that with my LinkedIn ad. Yeah. So number one, ROI content, CTA is five one-on-one calls. Asterisk, only for people who qualify. The second thing is that I think your offer needs to be around the ROI, and you need to use something called a calculator close. So calculator close basically says, here's all the things that you're currently doing, which you can do at the end of the five one-on-ones, and say, based on the whole assessment that I have, here's all the areas that you're losing money or that you could have efficiency. This is what I expect you to make. You add it all together and say it's$200 ,000 is the savings slash improvements in efficiency and effectiveness, whatever, right?

15:11So$200 ,000, the max that you can charge when you make any kind of result-based service is 30%. And so if you say, hey, I'm going to save you 200 grand, I charge 30 % of what I save, so it's 60. But that way, you're charging for outcomes, not hours. Okay. And that'll break it. And that's what's going to allow you to really, I mean, that alone might triple or quadruple income independent of of the roi stuff those would be the two next steps that i would do okay thank you you bet thank you man congratulations on the business this has been very very very helpful i really appreciate it thank you you bet thank you for being part of the group