HSH 009: How to Make Big Profits with Small Price Tags with Jordana Jaffe
In this episode, Jordana Jaffe challenges the thought that you can't do big launches without big price tags on your products. She shows you how to be spontaneous and do what feels good, instead of following a formula of launch "norms"!
Jordana has been an entrepreneur for the past 9 years, owning four businesses over that time. For the last year and a half, she has focused mainly on Facebook groups. She looks to train entrepreneurs who are introverts on how to engage their Facebook groups.
“Essentially, my whole mission is to help you get clients and grow your online community, while staying at home in your cozy pajamas”
Jordana started her Facebook group “ Gena + Jordana & Your Magical Business” in October 2014 (see “INTERVIEW LINKS”). She started it because she considers herself a “compulsive community creator.”
“With Facebook groups, it’s the energy you put behind it. It will only succeed if you’re really jacked about it.”
For her most recent launch, she used four methods to attract potential customers: her Facebook group, Periscope, her email list and Facebook ads.
The three-month program was called “Facebook Groupies”, and cost $70 (one-time fee) or three payments of $25. Every month there was a different theme, with every day having one tip around the theme. Jordana also brought in weekly guest experts.
The cart for the program was open for a month, and over 400 people purchased, totalling out $30,000 in sales.
Jordana modelled Facebook Groupies like a membership program, but with the content condensed into the three months. Similar to a membership site, she gave everyone one free month for joining.
Prospects that signed up for her email list received a sequence of five emails, which invited them to join the three-month program.
Initially, Jordana was scared that she wouldn’t make enough sales to make it worthwhile.
“I knew this could be a total flop, but I felt really inspired to go for it”
She felt if she did what felt good, by making it more affordable for people starting out, the money would follow. As well, if people said no, she knew it wouldn’t be because of the money.
“When you do what feels good, you put a certain energy towards whatever you’re doing. I think there is some kind of magic in that energy. Because of that, certain results do follow.”
When she launched Facebook Groupies, she wasn’t in a space where she felt like she needed the money, which she says helped.
“I think being in that mindset creates a bit of spaciousness around relaxing and making certain decisions”
Jordana does say that if you’re just starting a business and have no audience, it might not be the time to sell a low price item. When she launched the program, she had a good-size Facebook group that was fully engaged, along with an email list of 4,000-5,000 people. As well, she was achieving 25% open rate from her list.
She was spontaneous in starting the program, as she had just finished the launch of her signature $497 program. She gathered the experts and put together the email sequence in about a week.
The one thing you can do in the next week to move towards your goals is to write down 10 ways that you can grow your community through your choice of platform. For her, it’s Facebook groups, which she considers “an intimate dinner conversation.”
To Jordana, “hustle” means focused productivity.
“Put on some calming music, and GO!”
INTERVIEW LINKS:
