Part 7: Core Four on Steroids | $100M Leads Book | Ep 592

Introduction Get more engaged leads, Commit to the rule 100 and you will never go hungry again. Here's what it looks like applied to each of the Core Four Warm reach outs. 100 reach outs per day. Example primary actions, e-mail, text, direct message, calls, etcetera. Post content 100 minutes per day, making content release at least one per day on a platform. As you get better, post even more. Example primary actions, short and long videos or articles, podcasts, infographics, etcetera. Cold reach outs. 100 reach outs per day Example primary actions, e-mail, text, direct message, cold call, Flyers, etcetera. As with all cold advertising, expect lower response rates, so use automation. Paid ads 100 minutes per day making paid ads. Example primary actions, direct response, media ads, direct mail, seminar, podcast spots, etcetera. 100 days straight of running those paid ads. Use the daily budget we calculated together in the paid ads chapter. Aim for client finest Acquisition Pro tip More ads means better ads means more leads. Facebook reviewed the accounts of all advertisers on their platform. They found something curious. The top .1% of advertisers split test 11 more times creative than everyone else. Often times, it's not that you can't scale an ad profitably, You just can't scale a mediocre ad profitably. And the only way to find the exceptional ads is to make 11 times more of them. Success leaves clues. Do what the point 1% do to get what the point 1% get. Getting better gets you more leads for the same effort. We want that. And you can only get better by doing one thing. Testing. So you do more and more until it breaks. Then you make it better. In other words, if you do more for long enough, your CAC will eventually get too high to sustain. So you make a tweak and see if it improves. If it does, keep doing it. If it doesn't, toss it out. Thousands of these tiny tests separate the winners from the beginners. Every action a lead takes before they become a customer is a potential drop off point. So I do the most testing at whatever step the most leads drop off. I call these constraints. Constraints are the points where the smallest improvement create the biggest boost in results. That's why they're so important. We get the biggest bang for our buck. For example, if you have three steps in your process, let's say 30% opt in, AKA give you their contact information, 5% apply, and then 50% schedule. But let's ignore the obvious constraint for a moment. Imagine we improve each step by 5% itself. Doing More So 30% becomes 35%, which is a 16% increase. 5% becomes 10% which is 100% increase. 5% becomes 55% in scheduling, which is a 10% increase in leads. We get wildly different results. Improving the constraint also comes out the clear winner. So focus on the constraint, which was obviously in our example, the five going to 10, because it's a 2X increase in leads. And again, if you're not sure which step is the biggest constraint, find the step where the most leads drop off. You'll get the biggest reward for the smallest improvement. Here's how I get better. I test one thing per week per platform, and I do it for four big reasons. One, if you test multiple things at a time on one platform, you'll never really learn what worked 2 steps affect each other. A single change can affect results at other steps. For example, if you change step one and more people opt in but fewer people apply, no bueno. But you wouldn't know if you changed both steps. If you make one change, you can see what happened. If you make a bunch of changes, good luck trying to figure out what worked or didn't. Three, it forces you to prioritize what will get you the most engaged leads. You can do an infinite amount of tests, but time is limited, so you must choose your test wisely. For example, if you only do one big test per week per platform, don't waste it on a color change from red to bright red. 4 Maybe the most important. You run the test for long enough to see if you actually get an improvement. Too short and you won't get enough data. Too long and you waste time you could have spent improving the next constraint. With the size of my team and the amount of money I spent on advertising, one week is typically long enough for me. In every company I own, I set up a testing schedule. Every Monday we run 1 split test per platform. We give it a week and then the next Monday we do three things. One, we look at the results and pick the winners for each platform. Test 2. Important. We write down the results of the test in a log of all tests. So the next time we do something, we start a zillion improvements later. Not at square 1/3. We come up with our next test to beat the current best version. If we can't beat the version we're currently running in four tries or one month, we move on to the next. Constraint. You continue to allocate effort to make things better, but at a certain point, the effort you put into making things better brings lower and lower returns. At some point, it makes more sense to invest your effort into something that will bring higher returns. Only at this point do we try something new. Pro tip front to back most times. In general, the lowest percentage steps usually happen at the front and the higher percentage steps happen at the back. As in 1% of people may click an ad, then 30% will give you their contact information. This is why most times you'll end up focusing on the front more than the back, and that's fine. Those steps are usually the constraint. They have the largest return for the smallest improvements. The call out, the value elements, the offer, the CTA, the landing page, the headline, the sub headline, the image, etcetera. Down the pathway you go in, order what the lead will see and then do Pro tip, better, more new. Getting Better When talking to businesses less than 1,000,000 per year in profit, I usually advise them to do more first. They haven't done enough volume for percentage changes to make a big difference. But once you cross a million in annual profit, making things better can be the lowest cost, highest return thing you do. So once a business is big enough, I flip the order from more better new to better more new new. So after you've improved your marketing efforts through more and better, the only thing you have left is new places in new ways. In simple terms, new. And if you think your business can't possibly get any bigger, let me show you why it can. Then I'll show you how it can size of the pie fallacy. Understanding market size. I have a visual that has three circles, one that's 100% filled out that just says me, one that's 50% filled out that has a middle :) says me plus one competitor, and then a circle that has only one quarter filled out, which is me +3 competitors, which is a very sad face. Most business owners only look at the platform and tiny community they market in, and usually there are only three or four big companies marketing in their niche, so they assumed those companies must split the entire market between them. This is exactly what the entrepreneur in my intro story did. Think for a moment about how ridiculous this is. I call this problem the size of the pie fallacy. The market is in fact much bigger than most assume. A small business uses one of the core 4 on one platform in one very specific way, with a very targeted audience, and in that same space advertising the same way. There may be only a handful of other competitors. They then mistakenly assumed the tiny slice of the universe they advertise to is the entire available market. This is why most businesses stay small when they plateau. They think there's no more leads to get. They believe they got as big as they possibly can. Because for many, saying I'm as big as I can get is much easier than saying I'm not as good at advertising as I thought. This false argument keeps entrepreneurs everywhere poorer than they should be. When to do new When the returns you get from doing more better are lower than what you could do from a new placement or new way of advertising. There are many other slices of attention and potential leads sitting just inside the tiny universe of post content. They could add new placements since many platforms have multiple places or forms of content. For example, on Instagram you can make stories, messenger, ads, and posts. On YouTube you can make shorts, longs, community posts, etcetera. Or they could add a new platform. They could go from Instagram messenger to Facebook Messenger. They go from YouTube shorts to Instagram Shorts, et cetera. And once they've exhausted those, they could add an entirely new Core Four activity. And if you're curious, the order I pick my next new comes down to one thing. What will get me the most leads for the least amount of work? That is the rule. And nine times out of 10, it goes like this. New placements, then new platforms, then new Core 4. Bottom line, no matter how you advertise, you could do it in new ways, different styles of content or new places. Think other platforms, then finally do a new core 4 activity altogether. And you guessed it, each of them gets us what we want, more leads. Now this is much harder in practice, which is why we exhaust more better first. But at a certain point, you have to expand to new placements, platforms and Core Four activities to get more people to know about your stuff. Action step, exhaust more better first. Once you can't do any more any better, meaning the returns are lower than putting the same effort into a new platform, then try new. Use this rough order. New placement, new platform, new Core Four activity. Get it going. Measure how you do and scale it from there using more better. Then rinse and repeat more better news summary. First you do way more of the advertising that works until it breaks. Then the next drop off point becomes obvious. Then you keep that level of advertising up while you go back. Fix the constraint and make it better. So really better and more work with each other more than they work separately. The first question I usually ask myself before we invest in a company that needs to get more customers is what's stopping them from doing 10 times what they're currently doing? Sometimes nothing, so we just do more. Other times we need to make something better first. So answer that question and you'll know what to do next. Only once you've exhausted more, better do the real returns come from doing new. First, go with new ad placements on a platform you know. Second, go with placements you know, on a new platform. Then once you get the hang of the new platform, use new placements on it. New Places In New Ways Once you exhaust that, you can add a new core for activity on top of what you currently do. That gives you my simple, real world way. I put the Core Four on Steroids to get even more leads. Conclusion Advertising is the process of making known. It's what we do to let strangers know about the stuff we sell. Now we solve the stuff problem with your lead magnet or offer to get them to turn into engaged leads. You have to tell them about it. So we spent this section going over the only four ways a single person can advertise. Let other people know about their stuff and to do it you treat either time, money, or both. And when you do it you can advertise to people who know you warm, or you can advertise to strangers cold. And you can advertise publicly content or ads or privately through outreach. As far as what to do when, whenever I build a business I think about it this way. After I do warm outreach to get my pool of customers going, if I have more time than money, I move to posting content. If I have more money than time, I go with cold outreach or running paid ads. But remember you only need to do 1 to get engaged leads. So just pick one, then Max it out, Do more, do better, do new, and all the advertising methods compound together. The money, the systems and experience you earn from the Prime method will help you master the next one. A business that posts free content and runs paid ads will get more out of their ads and their content than a business that only does one or the other. A business that does cold outreach and makes content will get more from their cold outreach and work their warm leads better than one that does only one. Every combination of the Core Four advertising activities boost each other in some way. And as a personal note, I've done them all. I built my first business off posting content and warm outreach. I built my gyms off free content and paid ads. I built gym launch off paid ads and cold outreach. I built Prestige Labs off affiliates, which we'll cover in section 4I built Allen off paid ads and affiliates. Also section 4I built acquisition.com off posting content. There are many ways to get engaged leads. If you master one, you'll be able to feed yourself for the rest of your life. They all work if you do. Next up, if you follow the steps in this book, you'll run out of hours in the day. You won't be able to do any more any better, let alone add anything new. So you'll need help on your journey to the land of endless leads. You'll need allies. Those allies come in four different flavours, and since there are more of them than there are of you, they're the key to getting there. So let's go get them. Free gift bonus training more, better, new. This is one of my favorite topics around scaling businesses. Our portfolio CE OS cite this as one of the most impactful frameworks I've given them. If you want to see a video version of me breaking this down, you can find it here for free as always at acquisition.com/training/leads. As simple as what you just heard was that framework of more better. New is exactly how I approach every advertising campaign in every single company, which is can we do more? Can we do better? And I go back and say why can't we do more, Why can't we do better before doing new. But if you need to do new, you might as well know how to do it well. And hopefully that give you a little bit of a taste of how to do that for your own business. And if if you enjoyed that and you think you could use that in your own business, that means it probably would be useful to somebody else. And so if you could take the 2 seconds, hit the share button, text it to a friend, post it to your story, it would mean the absolute world to me. Because after all this whole thing, I mean absolutely free rather than trying to monetize it. I hope you enjoy. And next we have a Section 4, which begins the lead getter section. All right, so I almost wrote this entire book to get to the lead getter section because today almost all the leads I get are from the next four ways that I introduced advertising. But I had to explain the fundamentals, which is the core 4, in order to explain the next 4 lead getters. And this is, I mean, when I advertise this book, I use predominantly the back half of the book to advertise the book. I advertise using the first half just to show that I could do it and to demonstrate that it worked. But where you go from 100 leads a day to 20,000 leads a day comes from leverage and that comes from the back half of the book. And the beginning of that is next episode. So you won't want to miss it. This has been $100 million. Leads written by Alex Hormozi Read by Alex Harmozzi. Copyright 2023 acquisition.com Audio Production. Conclusion Copyright 2023 acquisition.com Media.