The 5 things that make an offer more valuable:
If you’re struggling with conversions, ask yourself: “If someone paid me 1000$ and I had to give away something that no-one would argue that it was worth that - what would that thing be?”
Before thinking how to make your offer scalable, you have to make it valuable. There’s a lot of people who go right to thinking how to make an offer scalable. But first you need to make it valuable, and most times that means giving something that is not scalable. Time is the best example for this. When you’re starting out, you should offer your time. People value time and they happily pay for it. It is not scalable to do 1 hour onboarding calls when you have 100 people signing up everyday, but you are not there yet. Give away your time and more people will convert.
Unscalable things are where immense value is. A friend of Alex has grown a business from 200M$ to 1.2B$ by doing unscalable work. He flew around the country to be at a conference event every single day. It’s isn’t scalable, it’s harder, it’s stuff that no-one else will do. But that makes it incredibly valuable.
Doing unscalable things also makes a way better product. By investing your own time into your clients’ progress you increase the likelihood that they get to the goal. By actually being there to help them you give them a better experience - so less people will churn. Until you have something you can do with your time that makes you more money, do unscalable work.
This is a frame Alex uses pretty much everywhere, in business and in life: think about everything through the frame of action.
You can cut out 95% of communication just by thinking about what you want to happen as a result of the communication. There are very few things that matter because there are very few things that change your behaviour.
With educational products, you can remove 90% of it by just telling someone what they need to do. Instead of explaining the 101 reasons why people should do it, tell them to do it and that’s it.
You look at the top 10% of your customers, and you analyse two things: their demographics and their actions. What did the top 10% do that the bottom 10% didn’t? Look at what your superstar customers all have in common, and how they are different from the people that are not getting results. Look at who they are and look at what they do. Once you figure this out, you use it on your messaging. You market only to the people that are similar to your 10% and do similar things to the top 10%.
Running this analysis also helps you create conditional guarantees. Once you know the 3 common things your successful members do, you can use them as the condition for your guarantee.