I have decided it is time to take a step back, focus, and use my time productively. I've been spending a lot of time doing what seems like nothing lately. So I'm going to commit to going through all the training that I have purchased, starting with the Funnel Builders Secrets course.
I am planning to share my notes and key takeaways from the lessons so that I am motivated to pay attention and take notes. This way we can all learn together too, even if you don't want to give Russell thousands of your dollars.
And I will be using a lot less words than he does ๐
So let's jump into the first video that was an introduction the the Funnel Hacker Cookbook
๐ฆ๐ฒ๐ฐ๐ฟ๐ฒ๐๐ ๐๐ผ๐ผ๐ธ๐ ๐๐ฒ๐ ๐ง๐ฎ๐ธ๐ฒ๐ฎ๐๐ฎ๐๐:
- Emphasizes the importance of repetition in learning. By continually revisiting and digesting the content of the books and training materials, the principles and strategies discussed will become ingrained in your understanding.
- Utilize any free time to re-listen to audiobooks and training sessions to deepen your comprehension and ability to apply these concepts.
- The goal is to align your thinking with Russell's or your mentor's, adopting their beliefs and understanding the underpinning reasons and methodologies at a profound level. Mastery comes from being able to effortlessly recall and explain these concepts.
๐จ๐ป๐ฑ๐ฒ๐ฟ๐๐๐ฎ๐ป๐ฑ๐ถ๐ป๐ด ๐๐๐ป๐ป๐ฒ๐น๐:
- ๐พ๐ค๐ฃ๐ฉ๐ง๐๐จ๐ฉ ๐ฌ๐๐ฉ๐ ๐๐ง๐๐๐๐ฉ๐๐ค๐ฃ๐๐ก ๐๐๐๐จ๐๐ฉ๐๐จ: Traditional websites, while often visually appealing, can overwhelm visitors with too many choices, leading to decision paralysis. In contrast, a funnel is a guided process that leads visitors through a series of steps towards making a purchase, similar to a salesperson assisting a customer in a store.
๐๐ผ๐ฟ๐ฒ ๐ฃ๐ฟ๐ถ๐ป๐ฐ๐ถ๐ฝ๐น๐ฒ๐:
- ๐ฟ๐๐ฃ ๐๐๐ฃ๐ฃ๐๐๐ฎ'๐จ ๐๐ฃ๐จ๐๐๐๐ฉ:The ability to outspend others on customer acquisition is a competitive advantage. The funnel approach, with its emphasis on One-Time Offers (OTOs) and upsells, increases the average cart value (ACV), allowing for a higher cost per acquisition (CPA) while maintaining profitability.
- ๐๐ญ๐ฅ๐๐ง๐ฉ ๐๐๐๐ง๐๐ฉ๐จ ๐ฝ๐ค๐ค๐ ๐๐๐ก๐๐จ: Demonstrates the practical application of funnel economics. Russell can afford to spend up to $36 to acquire a customer for his book because of the backend sales process that increases the customer's value over time.
๐๐ฟ๐ผ๐๐๐ต ๐๐ฎ๐ฐ๐ธ๐ถ๐ป๐ด ๐ฎ๐ป๐ฑ ๐๐๐ป๐ป๐ฒ๐น ๐ข๐ฝ๐๐ถ๐บ๐ถ๐๐ฎ๐๐ถ๐ผ๐ป:
- Evolution from direct sales letters to incorporating squeeze pages and email follow-ups to increase conversions and ACV.
- The importance of testing and profitability: Ensuring that the cost per acquisition (CPA) is less than the average cart value (ACV) to maintain a profitable funnel.
- Don't keep burning money if the funnel is not working. Put in $100 and see if you get $100 back.
๐ง๐ต๐ฒ ๐ณ ๐ฃ๐ต๐ฎ๐๐ฒ๐ ๐ผ๐ณ ๐ฎ ๐๐๐ป๐ป๐ฒ๐น:
- ๐๐ง๐๐๐๐๐ ๐๐๐ข๐ฅ๐๐ง๐๐ฉ๐ช๐ง๐: Identifying the awareness level of the traffic (Cold, Warm, Hot).
- ๐๐ง๐-๐๐ง๐๐ข๐ ๐ฝ๐ง๐๐๐๐: Establishing the right context and expectation before visitors enter your funnel.
- ๐๐ช๐๐ก๐๐๐ฎ ๐๐ช๐๐จ๐๐ง๐๐๐๐ง๐จ: Segregating those willing to engage further by providing their email.
- ๐๐ช๐๐ก๐๐๐ฎ ๐ฝ๐ช๐ฎ๐๐ง๐จ: Distinguishing who is ready to make a purchase.
- ๐๐๐๐ฃ๐ฉ๐๐๐ฎ ๐๐ฎ๐ฅ๐๐ง๐๐๐ฉ๐๐ซ๐ ๐ฝ๐ช๐ฎ๐๐ง๐จ: Recognizing those with a higher propensity to make repeated purchases.
- ๐ผ๐๐ ๐๐ฃ๐ ๐ผ๐จ๐๐๐ฃ๐ ๐๐๐ ๐๐๐ก๐๐ฉ๐๐ค๐ฃ๐จ๐๐๐ฅ๐จ: Developing and deepening the relationship with your audience over time.
- ๐พ๐๐๐ฃ๐๐ ๐ฉ๐๐ ๐๐๐ก๐ก๐๐ฃ๐ ๐๐ฃ๐ซ๐๐ง๐ค๐ฃ๐ข๐๐ฃ๐ฉ: Adapting the sales approach based on the audience and product evolution.
๐๐๐ป๐ป๐ฒ๐น ๐๐ป๐ด๐ฟ๐ฒ๐ฑ๐ถ๐ฒ๐ป๐๐:
- Funnels are compared to baking a cake, where the right mix of elements (ingredients) leads to the desired outcome. The elements of a funnel are like the ingredients in a recipe, essential for creating a successful sales process.