Episode #057: Is a Low Ticket Launch Right For You?
Is a Low Ticket Launch Right For You?
In this week's episode Zach talks about the benefits of charging a small fee to have people join your challenge, webinars, or workshops and how it can ultimately generate more results for your launches.
When you tune in you're going to learn...
The benefits of running a paid launch
How a paid launch can help you create evergreen products
The importance of experimentation in your business
And more...
Tune in, listen up, and get ready - cause this is a good one!
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FULL TRANSCRIPT:
This is not your average online marketing podcast. Episode number 57. And in this episode, we're talking about low ticket launches. Do they make sense for you? What are they? And should you think about running one for your next promotion? So let's get into it.
Hey, hey, hey, not so average marketer. Welcome to another episode of the podcast. Now, I'm excited for this week's episode because this is something that we've been working on for quite a while, and that is low ticket launches to generate more sales in our business. And I think the best way to explain how these work is to talk to you about a recent promotion that we did. Now, I have a full breakdown of this on episode number 55 of the podcast when we talked about a workshop that we did that we turned into a five figure launch. But I just want to briefly cover how this works.
So what we've been doing is a couple of different types of low ticket launches, and the first one is that we've done a paid five-day challenge. The other one that we did was a paid live workshop, which is just webinar style, where we pitch something at the end. But let me talk about the subtle intricacies of how these work.
The first big difference that you'll probably notice is that number one, people typically do free webinars or free challenges, but we charge a low ticket price point. This has worked exceptionally well for us, and I'll talk about some of the benefits in a second. But we charge a low ticket price point as an entry fee to join our launches. Now, the first thing that's really important is that with these launches, we're very transparent about the fact that there's going to be an offer at the end. And the reason we do that is because we don't want people to feel like they've paid for something and then they've been bait and switched. Well, I just paid for this, but there's something else. So that's the first thing.
The second thing is we try to deliver a world-class experience. That doesn't mean it has to have a million bells and whistles and fancy technology, but it means that the information and the content that we provide is really good. So we always try to make sure that when we do a live launch with a low ticket price point, that people are really getting the best experience possible.
The third thing that I just want to mention about these is that we like to do them live. So you can absolutely evergreen your launch after it happens, and we've done that and we'll talk a little bit about that today, but it's super important that you understand that doing it live means you get more people engaging and connecting with you and seeing your content. So we've done this before with a $25 workshop. It was on memberships and how we got people into our membership and got them excited about being part of our community using a $25 workshop. Just to clarify, it wasn't to sell our membership. It was about the structure that we've used to fill our membership historically. And then on the back of that, we sold for $197, what I call the membership launch template pack, which is a series of templates, trainings, walkthroughs, that show people how to launch their own membership.
So the process is really simple. We start a few weeks out from our live event, and we do that via an email. And we email people over to a short form sales page. Now, everyone's got a different opinion on this, but I like short form sales pages, and I like short form sales pages because it allows me to get the information out there, but not stress so much about all of the moving pieces. So I don't write a two or 3000 word sales page for these. I write a few hundred words, I add some visual elements, and I keep it simple. I keep it super simple. And I like doing that because it works really, really well. And what we found is that the sales pages don't have to be super complex. They don't need to have a million bells and whistles. So they're just a small sales page that walks people through what to expect if they join our live launches.
So I think the best thing we can do now for you is to talk about why you would do a low ticket launch. So a lot of times people say to me, "Well, why not just do a free launch? I'm going to get more leads, or I'm going to get more people signed up for free than I will for paid." And I don't argue that. That's totally true. So there's definitely benefits to doing a free challenge or a free webinar. And the biggest one is going to be that you get more people signed up. You're going to get a higher number of leads. So if you are trying to get more leads and more signups and more eyeballs on your content, a free launch may be the way to go.
But here's the flip side. With the paid launch, we tend to see for webinars, higher show up rates, for challenges, higher group join rates and higher conversion rates and higher engagement rates. And universally, we see that a higher percentage of people that join our low ticket workshops or launches actually buy the product at the back of the launch. But here's the thing, with a paid launch, for us personally, we tend to focus on our warm audience to get them to sign up.
So where with a live launch that's free, you may traditionally run ads to cold audiences or you might have people share your posts, or you might try to get new leads onto your email list. We're not typically trying to do that with a paid launch. What we're trying to do is turn the people in our audience who haven't bought from us yet into customers. Now, we may get repeat customers, and we love that too, but what we're trying to ultimately do is convert our audience into customers, because I've talked about this on the show before, but people who are customers are more likely to be repeat customers.
So we talked about this within the confines of the paid launch, you're going to get a higher conversion rate, you're going to get more people buying from you at the end as a percentage. That also means that those people are more likely to buy from you the next time you do a paid launch, the next time you do a low ticket offer, the next time you do a big promotion. So it's not just about, oh, how do I generate the most money from my launch? It's also about how do I generate customers from my launch? How do I get people engaging with the process? How do I get people connecting with me in a customer format? So that's the first thing.
The second thing to consider is what percentage of your audience is going to buy? So we typically see two to 4% of our entire email list buy our low ticket launch entry. So what that means is that we have an email list of about 15,000 at any given time. We typically see that really for us, one to 2%, but when we run this with our customers, we tend to see that people with a list under 5,000 see about two to 4%, but we typically see about.one to 2% of people on our email list sign up. And with a smaller list, anything under 5,000, two to 4% of people sign up, it is a numbers game. As your list gets bigger, you get different quality leads and different types of people.
But here's the thing, you can actually crunch the numbers for yourself. So you can say, if I do a free webinar, here's how many people I typically get signed up. If I do a paid webinar, here's what it would look like if 2% of my email list signed up. And you can run through the process and see what works. So you have to be thinking, what do I want this to look like in terms of leads generated and sales generated?
The third thing to consider is that with a paid launch, you can sell and siphon that money into advertising. So sometimes when we launch, we think, oh, I don't want to spend money on ads, or I don't know if I have a big ads budget. But with Facebook ads combined with a low ticket launch entry fee, you actually generate some of the revenue that you need to run the ads. So that works really, really, really well, and it's something that you should consider. So I just want you to be thinking about these things before you jump right into the idea of, oh, I should definitely go free, or I should definitely go paid. There's a lot of different things to consider.
So I want to talk briefly about the benefits of a paid launch that we've seen in our business personally. So we've talked about some of the obvious benefits already, which is more engagement, more customers, more show up rate. But here is this one big benefit that we've seen that I think is really great, is that we get people saying, "This is the best class I've been to." Why is that? Well, number one, yes, we deliver great content, and yes, we deliver a great experience.
But here's the reality. When people pay for something, they perceive it as higher value. They perceive it as going to be more relevant or more informational content. Now, we also provide workbooks and trainings and content that really serves people, so I understand that there's this dichotomy of, yes, we're providing good information, but there's also this psychological element of when people pay, they perceive things as being better quality. That's just the nature of human psychology when it comes to buying these kinds of things.
The other big benefit is that it really lets me forge a connection with my audience. I talked about how you get higher show up rates and higher engagement rates, but here's the thing. For me personally, and maybe this is not the same for you, but it might be and it probably is, is that when I show up live for a class or a workshop or a challenge, I'm a little more polished in my presentation. Maybe not physically, I tend to be beanie and you could probably use a shave kind of guy. But in terms of my content, it's really polished up. And that means that people get to see the best of me, and I show up differently live than I do on a Facebook post or than I do on an Instagram post. And so people really get to experience what it's like to learn from me. And I just think there's something so special about the fact that people really get to experience me in my element.
So I know that sounds silly, and that's not really a tangible benefit, but it allows me to form a real connection with people because I can post on Facebook, I can write on Instagram, like I said, but when I show up live, people get to experience the real me. They get to experience who I am, how I show up, how I perform, how I deliver my content. And I think that for a lot of us, that authentic show up on live video, that used to be really prevalent with Facebook Live and Periscope and Instagram live, and it's fallen off a little bit in the last few years in terms of how much live content we see on Facebook and Instagram, and Periscope obviously doesn't exist anymore. I think live video is one of the highest forms of quality touchpoint to create a real connection with people. And because they've paid a small entrance fee, they're going to show up at a higher percentage, which means more people are going to get the experience of me.
So the other really cool thing that I just want to touch on is that we also see that there's this benefit that we can turn our paid launches into products. Full transparency, we're still working on optimizing this process, but what we do is we just take the recordings, we maybe edit them a very minuscule amount, but we take the recordings from our live launches and we put them into Kajabi, Teachable, Thinkific, whatever your course platform is, Thrivecart Learn, and we sell them for 25 bucks. I really like this because it lets us start generating customers from cold traffic.
So I don't want to get too far down the rabbit hole, but just to illustrate what we do, we have a Facebook ad that runs to a related freebie for our low ticket offers. So for example, we have our Facebook ads bootcamp. We have a freebie called Create Your Perfect Lead Magnet, and then our messaging is, "Hey, you've got the lead magnet. How are you going to get the leads? Let me share with you an opportunity to learn how to run Facebook ads in my pre-recorded Facebook ads bootcamp for $25." We sell that very regularly. I would say five to seven times a week, and we're always running ads to grow the list.
So there's two cool things happening here. One is that we're always growing the email list because we've got a simple Facebook ad running, which I've talked about on the show before, but then we also have a low ticket offer that's selling as people are opting in to our free offer. But I didn't have to build a product. All I had to do was deliver it live, take the recording and package it up.
Now, the flaw with this, because I always like to be fully transparent with you, is that sometimes we make a pitch or a special offer in these live trainings that sit in the recording. And so that special offer or that live training may not be available anymore. So that does tweak the dynamic. And so sometimes it's beneficial to rerecord or revise what we're giving away in the recordings. But still, there's this huge benefit of having a product that sells almost every day on autopilot as we grow our list. And because we're always growing our list, guess what? We always have new people to push our next low ticket promotion to. So we're always thinking, we're always saying, "How do I not just live launch with this low ticket offer, but how do I also take that product and go evergreen?"
Now, I just want to share with you for a quick second, if you're listening to this and you're going, this sounds great, this sounds really cool, I love the idea of a paid workshop, then I want to share with you a workshop that we are hosting on April 7th, or excuse me, April 6th at 1:00 PM Pacific, 4:00 PM Eastern, 9:00 PM London for a live training, replay included, on what I call the paid launch model. And this is how we've converted consistently over 10% with our live launches.
And if you've been launching and seeing that your numbers are lackluster or your attendance rate is low, or you're stressing because you're praying for that return on the Facebook ads before you even see any revenue, then this is the workshop for you. We're going to teach you how to determine what you should launch and how you should launch it, help you develop your content for the launch, and help you develop an ethical and high converting sales strategy. So I'm really excited for this class.
If you want to check it out, you can go to heartsoulhustle.com/paid. Again, that's heartsoulhustle.com/paid. It'll take you to the paid launch model workshop page. And big shocker, this is a paid workshop, so it's $25 to join the workshop. We would absolutely love to have you. It's going to come with training, a workbook, some really awesome stuff, and you're going to walk away knowing exactly how to leverage a paid launch in your business.
So as we wind down, there's just a couple things that I want us to think about, and that is, how do we determine if a low ticket launch is right for us? Well, my biggest thing that I say to people all the time is, "Test it. Try it. See what happens." The worst thing that's going to happen for most people who are listening to this podcast is you're going to do a live launch and no one's going to sign up, or a couple people are going to sign up. And guess what? That's okay. We think that we have to have these big, grandiose, 500 people launches or we've done something wrong. And the reality is, when you're getting started, it's okay if you do a paid launch and 10 people sign up or five people sign up, or no people sign up. It's okay. It's all a big experiment.
And I talk about this all the time with my clients and my students, is that it's okay to look at business like a big experiment. It doesn't have to be perfect. It doesn't have to be polished all the time. You can try things that you don't know if they're going to work. I'm such a fan of just try it, see what happens, see how it goes, because worst case scenario, it works really well or it doesn't work at all, and you learn from that. And I think that the more we get in the mindset of we're just experimenting, we're just learning, we're just seeing how things resonate and how things connect and how things work, and what works for us in our business, that's all we're doing. The more we do that, the better our business is going to run.
And I know I'm dwelling on this for a second, but I just want to really impress this on you, that nobody knows exactly how to run your business but you. And I used to personally learn from people and be like, that's the way, that's the way, I have to do that. And now I look at things and go, ooh, I like what that person's doing. I'm going to try it, and then I'm going to change it and I'm going to adapt it and I'm going to make it work for me. And you can do the exact same thing. You can listen to this podcast and go, ooh, I like the idea of a paid launch, or I reject the idea of a paid launch, that's not for me. And that's a-okay. But I would encourage you to just try it and experiment because maybe it works great and you love it, and maybe it works terrible and you never want to do it again. And either way, that's not the wrong answer.
So I'm going to start to wrap up here by reminding you that if you head over to heartsoulhustle.com/nyap057, again, that's heartsoulhustle.com/nyap057, we will have the complete show notes and transcripts waiting for you there so that you can review anything. I've also linked up a couple things. Episode 55, that paid launch masterclass, we've got that all linked up as well. And I want to encourage you, if you listen to this episode and you're going to try out a paid launch, DM me on Instagram. I'm over @heartsoulhustle, and I'd love to hear from you even if you're just thinking about it, even if you're just like, I'm going to go for it. You don't have to have results to DM me or tell me what's going on. Just shoot me a message and let me know, "Hey, I'm running with it, Zach. I'm going to do a paid lunch, and I can't wait to tell you how it goes." I love hearing from you guys. So with all that being said, I hope you got lots of value from this episode. And until next time, stay not so average.
