Make More With Less
Hey what’s up guys, John here.
And I want to talk about the Ten to Ten ratio.
And basically, I just came back from my MasterMind in Maldives,
which is pretty awesome.
And I do that every single year.
We go to Maldives.
We spend the whole week with other entrepreneurs.
It’s pretty awesome.
People are great.
The food is great.
The boat is great.
We stayed in a luxury boat during the whole week.
It’s pretty awesome.
We’re served every single day, three times a day.
There’s free food on. Pretty awesome. The waves are amazing.
I learned this from one of them,
from actually James Schramko who was there,
he was talking about the importance of the 10 to 10 ratio,
which is basically 10 percent of your audience will pay ten times more for one of your products.
So when you, it is very important.
Which basically means if you’re going to get a buyer,
you can attract someone in as a buyer,
he’s going to purchase something.
Well, 10 percent of them are likely to purchase something that is ten times more expensive.
So if you’re selling a $5,000,
let’s say course or program,
what 10 percent of them will be open to purchase the $50,000 program.
And this is very important when you’re doing any kind of marketing strategy
or a type of marketing campaign especially with paid advertising,
because as you know,
having a backend funnel, right?
Having other offers on the backend after they initially come to your first pages,
maybe you’ll have an ad on Facebook, they click on it,
and maybe you’re going to have,
obviously you’re going to capture that traffic first,
and then you’re going to make an offer.
Well you want to have backend offers,
other offers on the backend,
because as you increase the value,
you know that 10 percent of them will be open to buy something more. Alright?
So, obviously on the long term.
So that’s something to keep in mind, very important,
start thinking about that in your business,
start thinking about what kind of higher end package can you create, can you put together.
Maybe that’s a premium master class,
maybe that’s a coaching program,
maybe that’s some ‘done for you’ services,
whatever it is.
10 percent of people will be open to purchase something that is 10 times the price.
Alright guys. Thanks all for watching.
Have a great day.
Take care. Bye bye.
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