664: The $1 Product Challenge

0:00:06 The $1 product challenge, how my guest earned $4,000 in just 10 days without paid ads.
0:00:07 What’s up?
0:00:07 What’s up?
0:00:08 Nick Oloper here.
0:00:12 Welcome to the Side Hustle Show, a light on the theory, heavy on the tactics.
0:00:14 It’s an entrepreneurship podcast.
0:00:16 You can actually apply.
0:00:19 And you’ve been around online business for any length of time.
0:00:23 I can almost guarantee you’ve heard the phrase, the money is in the list.
0:00:29 And all the experts, myself included, extol the virtues of building your email list, right?
0:00:32 It’s the platform that you own and control.
0:00:37 You’re not at the whim of algorithm updates, social media changes.
0:00:41 But the question is, are you building an email list of buyers?
0:00:45 Subscribers are great, but you’re not buying groceries on subscribers alone.
0:00:50 My guest today has a unique list building and business building strategy that throws free
0:00:57 lead magnets out the window in favor of low-priced products starting at just $1 and has seen some
0:01:01 exciting results, including that $4,000 in just 10 days.
0:01:05 From growthmodels.co, Pete Boyle, welcome to the Side Hustle Show.
0:01:06 Thank you for having me.
0:01:07 It’s great to be here.
0:01:07 You bet.
0:01:08 I’m excited for this one.
0:01:12 I got to know, what’s the $1 product that you came up with?
0:01:12 How did this work?
0:01:16 Basically, I found myself in a position where I tried a bunch of things in business that
0:01:16 didn’t quite work out.
0:01:19 As is always the case, you know, you try some new things, it doesn’t always work.
0:01:23 And I was like, right, I need to get some good positive cash flow coming back in.
0:01:28 Went back, tried the usual lead magnet, get people in, tried to nurture them towards buying
0:01:31 from me somewhere down the line, a day or week, a month, whatever.
0:01:32 It didn’t work.
0:01:36 And so I was like, right, I need to actually get some customers coming in.
0:01:42 And so at that time, you know, ChatGPT was doing huge numbers in terms of the actual, you
0:01:43 know, daily usage.
0:01:46 And custom GPTs had just come out.
0:01:49 But most people weren’t really using custom GPTs.
0:01:50 They didn’t know how to do them.
0:01:54 So I sat down over a weekend and I thought, I’m going to figure out how I can create some
0:01:55 custom GPTs.
0:02:00 And much like the philosophy that’s now in the $1 product challenge, one of the things
0:02:05 that I wanted to do was create something that was easy for the end user to use.
0:02:08 Not like a big load of information, but a quick and easy solution.
0:02:12 And I created some custom GPTs that were around content marketing.
0:02:15 Because I spent a lot of my career doing content marketing for different brands.
0:02:21 And I said, look, these are four custom GPTs that will help you identify a great topic,
0:02:25 create great headline, do the brief that you need to send to a writer, and even help you
0:02:26 with the first draft.
0:02:29 Four of them, you can get all four for a dollar.
0:02:30 Oh, okay.
0:02:34 And then, yeah, it kind of spiraled from there because they were so easy to use and people
0:02:38 could basically go in, answer a few questions, and get the results that they needed.
0:02:42 And I kind of daisy-changed them along so you could take the output from one into the
0:02:45 next to get the next stage, and so on, and so on.
0:02:45 Okay.
0:02:50 So this is rather than starting from, like, coming up with your own series of prompts to
0:02:52 get the outcome that you want.
0:02:55 And it’s kind of like a done-for-you type of pre-setup thing.
0:02:56 Yeah, exactly.
0:03:02 So one of the issues that I see now with a lot of the AI influencers, for lack of a better
0:03:08 term, the lead magnets they’re using is like, here’s a thousand AI prompts that you can use.
0:03:12 And I look at it and I think, well, that’s great, but I only need five that are really
0:03:13 going to be useful for me.
0:03:18 So you’ve given me more work that I’m going to have to go through all 1,000 to find the
0:03:19 five that are useful for me.
0:03:20 Yeah, I’m sure these are all great, right?
0:03:22 But what’s most relevant?
0:03:22 Exactly.
0:03:25 And so I was just like, what if I do that work for you?
0:03:28 And I say, right, answer these five questions about your audience, what you want to create
0:03:32 content about, a couple of other sort of clarifying questions.
0:03:33 And this will just create the end thing.
0:03:36 Like answers that everybody would have.
0:03:36 Okay.
0:03:39 And that they would have to do anyway with a prompt, but I’ll take the prompting out of
0:03:41 the equation and you can just take it from there.
0:03:45 And this was right when custom GPTs first came in.
0:03:49 So there was a lot of buzz around them and, uh, yeah, sold all four of those for a dollar.
0:03:50 Wow.
0:03:50 Okay.
0:03:57 So maybe some upfront work for a low, a low ticket price, but then you don’t have a, you
0:03:59 have an email list, you have an audience to speak of at this point.
0:04:01 Like, how are you, how do you find buyers for this?
0:04:06 So I did have an audience at that point and I had my email list and.
0:04:11 But I didn’t use them to sell this to, I didn’t sell this to them.
0:04:11 Oh, okay.
0:04:16 Um, they weren’t really that interested in content marketing because I has an audience
0:04:18 of freelancers who wanted to know how to attract clients.
0:04:19 Okay.
0:04:19 Okay.
0:04:23 So there’s a bit of an overlap there, but they weren’t the exact ideal market.
0:04:26 What I wanted was I wanted people who were running content for larger brands.
0:04:29 So I had to go out and try and find them to get him to buy it.
0:04:30 How’d you find them?
0:04:36 So I did something that I’ve now called in spear phishing was, um, I found free communities.
0:04:40 Of, you know, content marketers who, you know, they’re all in there helping each other.
0:04:45 You can’t usually go into these places and promote because as soon as you go into a good
0:04:47 free community, the moderators are going to be like, no promotion.
0:04:48 Yeah, exactly.
0:04:52 So I went in and I, I created just value-based posts.
0:04:54 Like I said, you know, I’ve been doing this for quite a while.
0:04:57 So creating these posts wasn’t too hard.
0:05:00 Eventually I created another custom GPT that helps me create the posts.
0:05:05 So I had to take some of the work out of it, but, um, essentially I go in and I’d say,
0:05:08 look, these are the big problems that I see with content marketing.
0:05:09 This is the solution.
0:05:12 I’ve actually created some custom GPTs to help me do this.
0:05:13 No promo.
0:05:15 It was like a value-based post.
0:05:15 Here’s the problem.
0:05:16 Here’s the solution.
0:05:18 I’ve been working on this thing.
0:05:20 Just a little tease of what the offer is.
0:05:26 Then anybody who liked commented, I’d follow up with in direct messages.
0:05:28 So it wasn’t a cold DM then.
0:05:31 It wasn’t like a complete stranger saying, Hey, how’s it going?
0:05:34 I could go in and I could say, you enjoyed the post.
0:05:35 Thanks so much for engaging.
0:05:35 Yeah.
0:05:37 There was some level of, uh, interaction.
0:05:38 Exactly.
0:05:39 Exactly.
0:05:41 So it was not cold DMs, warm DMs, I guess.
0:05:44 Um, and it was, thanks so much.
0:05:45 Really enjoyed it.
0:05:45 Any questions?
0:05:50 And then if they were receptive, I would then segue that into a, you know, I put some
0:05:51 of those custom GPTs together.
0:05:53 I can give you access for a dollar.
0:05:56 And that was how I started to get the initial sales coming through.
0:06:01 It’s not a very scalable system because it still requires you to go in and talk to, you
0:06:04 know, in these groups, but, um, it can still work quite well.
0:06:11 And as long as you focus on value, the moderators so far have most of the time, like 80% of the
0:06:13 time, not had an issue with it.
0:06:13 Yeah.
0:06:15 And if you’re listening in, you may…
0:06:20 already be a part of some of these communities or it’s not you coming in completely, completely
0:06:26 cold, you kind of know the, you know, the culture of these different forums and communities
0:06:30 where, you know, what kind of content is going to fly or what kind of posts are going to fly
0:06:30 in there.
0:06:34 And if you can lead with this value first, the spear phishing is kind of interesting.
0:06:38 Like, I don’t need everybody in here, but you know, a handful of people who are interested
0:06:41 in it’s going to help me validate whether or not there’s any legs to this idea.
0:06:45 And that was the whole thing is, you know, as you say, you’re looking for those people
0:06:48 basically giving you a digital hand raise of saying, yeah, that’s cool.
0:06:51 I like this, you know, comment or likes, and then you can follow it with those.
0:06:56 And then, you know, that just made it so much easier when following up with those people and
0:06:58 just getting some kind of a result.
0:06:58 Okay.
0:07:02 So now technically, are they sending you Venmo?
0:07:03 Are they sending you PayPal?
0:07:06 Is there like a Stripe landing page?
0:07:09 Or like, how are you, if you’re figuring out like, okay, I can give you access to these for
0:07:10 a dollar.
0:07:11 Okay.
0:07:14 Next, next step to collect and deliver.
0:07:14 Yeah.
0:07:15 So it’s, it’s one of those things.
0:07:20 I think a lot of people really overanalyze what they should be doing with this.
0:07:21 And it’s like, oh, how do I deliver this?
0:07:23 So it feels like a premium package and all of this sort of stuff.
0:07:26 For years now, I’ve had a ThriveCart subscription.
0:07:30 And if you, I don’t know if you’re familiar with ThriveCart, but it’s a checkout software.
0:07:31 Yep.
0:07:34 And so, you know, you pay once for lifetime and it’s, I think it’s like $500.
0:07:37 So no monthly fees, nothing like this.
0:07:42 And then it integrates with Stripe or PayPal, but you can set up a nice looking cart checkout.
0:07:43 Quite simple.
0:07:47 And so I set it up there and basically then I said, anybody who buys this, send them to this
0:07:51 thank you page, which then has the links to the, get them here.
0:07:51 Okay.
0:07:53 Very, very simple, very low tech.
0:07:56 You could do the same with a Stripe checkout, I think, or even a PayPal page.
0:08:00 Once you have payment, you just send them the links to the, to the custom GPTs.
0:08:00 Okay.
0:08:01 Got it.
0:08:02 Thanks for, thanks for sharing that.
0:08:04 How many people bought the, uh, the $1 thing?
0:08:06 I think it was 26.
0:08:07 Okay.
0:08:10 And so the manual in these different communities groups, right?
0:08:14 So it’s got the people who might be interested in this thing leads to the direct message
0:08:17 outreach to the digital hand raisers, the people who engaged with that content.
0:08:17 Yep.
0:08:21 And then a percentage of those people click through to buy the thing.
0:08:25 So now you’ve got a grand total of $26 minus processing fees.
0:08:25 Exactly.
0:08:26 Yeah.
0:08:29 So that’s the, you’re still not going to make a much of a business out of this.
0:08:30 You know, what happens next?
0:08:35 It’s kind of the, how do you lead people up the value chain to buying more from you or
0:08:36 doing more business with you?
0:08:38 This is where Thrivecart kind of helped out.
0:08:40 And there’s plenty of other tools that you can do this with as well.
0:08:44 A lot of them are termed as like funnel building tools, but also any of the good cart checkouts.
0:08:50 If you look to see if they allow you to create a bump offer and upsell offers, one click upsells,
0:08:52 because that massively reduces the friction.
0:08:56 And basically what this allows you to do is add other products onto the checkout.
0:08:57 Yeah.
0:09:00 So that somebody then has the option to go, Oh, you know, I also want this on that.
0:09:01 You know, yeah, I’ll take that as well.
0:09:07 And I basically built a couple of extra products that I added onto the $1 products on the front.
0:09:10 The way that I always view this is the $1 product or the front ends.
0:09:15 The first thing that they buy is there to help them achieve a quick solution.
0:09:19 Don’t give them this massive big thing of information that they’re going to have to
0:09:21 sort through and figure out how to use.
0:09:24 Give them something that they can take and just put into their business or take and use
0:09:28 and get a very quick result because that’s much easier to sell.
0:09:29 Use this.
0:09:30 It takes five minutes.
0:09:31 You get this result.
0:09:34 Very easy to sell compared to some of the other things out there.
0:09:38 The bump offer, when they go to the checkout, there’ll be a little checkbox that says,
0:09:39 do you also want this?
0:09:43 And that bump offer should be there to add extra value to the initial offer.
0:09:48 And I like to think that it’s going to help people achieve the result faster, easier,
0:09:50 cheaper, or more profitably.
0:09:55 So it’s going to make getting the result from what you’re just selling them for $1 faster,
0:09:58 easier, cheaper, or it’s going to help them get a bigger result.
0:09:59 Okay.
0:10:02 The extra value of the bump offer.
0:10:06 So the, you know, would you like fries with that kind of thing accepted in a business?
0:10:07 Similar to, yeah.
0:10:10 I like to think of it as like a catalyst to help them get better results.
0:10:15 And so in that case, I then recorded a couple of videos of myself building custom GPTs.
0:10:20 And I put a basic template of how I did the description into the custom GPT.
0:10:24 Cause you give it a custom description that it follows that process.
0:10:27 And so I gave them that template and a couple of videos around it.
0:10:31 And I said, you know, for an extra, I think $47 is what I usually go for for a bump.
0:10:36 You can also get the whole system that I’ve built on how to do these so that you can create
0:10:40 not just these for content marketing, but for any repetitive task in your business,
0:10:43 you can teach an AI agent how to handle it for you.
0:10:43 And you just follow this.
0:10:44 Okay.
0:10:49 So like the how to tutorials, the instruction manual, plus if you ever want to do this on your
0:10:51 own, here’s how I set this up.
0:10:51 Exactly.
0:10:52 Yeah.
0:10:56 That is like the first page that they’ll see when they go to buy, they’ll be filling
0:10:58 out their payment details for the $1 product.
0:11:01 And then just before they can click, go through, it’ll be like, do you also want this?
0:11:03 It’ll teach you how to do this.
0:11:04 And it’s like, oh, great.
0:11:10 And then essentially when you’ve sold them that initial product, you’ve solved a problem in
0:11:14 their life and you’ve given them this solution and you’ve moved them from where they are today
0:11:19 to that transformation of where they want to be after that product, that new area, that
0:11:22 new sort of reality that they have, they now have a new problem.
0:11:29 And so I then offer them an upsell, which helps them solve the new problem.
0:11:32 So it’s a solution to that new problem that they experience.
0:11:38 And so in this case, we’re talking that they have custom GPT that will help them create content.
0:11:42 And then we’ve got something that will help them create their own custom GPTs, but they have
0:11:44 a new problem now that they’re going to have this content.
0:11:46 Is it optimized?
0:11:47 How do they promote it?
0:11:49 You know, how do they actually get sales from that?
0:11:53 So then the upsell was more information on how they can turn one piece of content into like
0:11:58 a sales machine so that people who read that piece of content will actually buy rather than
0:12:02 just producing content and seeing no tangible results from it.
0:12:08 So that’s the no shortage of content or digital clutter on the internet, but how do you actually
0:12:10 get results from that?
0:12:11 So that’s the upsell offer.
0:12:13 Do you remember what that was priced at?
0:12:17 I want to say it was 97 or 197.
0:12:21 And I only had maybe, you know, a handful of people take that.
0:12:27 It wasn’t like a huge number of people, but I was 97 or 197 because that’s usually the numbers
0:12:31 that I’ll go for is the initial product will be anything from, you know, I always start these
0:12:34 at $1 because it’s a very low barrier to entry.
0:12:40 And just beginning thinking on a transactional relationship with the person changes the rest
0:12:41 of your relationship with them.
0:12:42 It’s buyers versus freebie seekers.
0:12:43 Yeah.
0:12:49 But it’s usually $1, then 47 for the bump, then 97 to 197 for the upsell is what I tend
0:12:50 to go for.
0:12:52 And that gives you potentially 250.
0:13:00 In all digital, you know, no, no direct time required on your part to deliver this good.
0:13:03 It’s not like people are signing up for coaching or consulting yet.
0:13:04 Not yet.
0:13:04 Nope.
0:13:08 So this was all just something that I’ve created and it was loom videos.
0:13:13 So pretty low tech in terms of, you know, there was no lots of editing and like flashy
0:13:13 things.
0:13:16 It was me sat in this very chair doing a screen share.
0:13:17 It’s like, go here.
0:13:17 This is how I do it.
0:13:18 These are the templates.
0:13:19 This is why it works.
0:13:21 Very, very low tech sort of approach.
0:13:26 It took me maybe an hour to create the bump and the upsell together.
0:13:31 And then once I created them, I could sell them dozens of times.
0:13:31 Okay.
0:13:32 Interesting.
0:13:34 This is like, I’m starting to piece together.
0:13:37 You almost have to start with what you know.
0:13:37 I don’t know.
0:13:42 What would you recommend people start to like start peeling out different segments of their
0:13:47 knowledge and expertise or like, you know, how to think about these different tiers as
0:13:47 different offers.
0:13:48 Like, it’s really interesting.
0:13:53 I would always start with the, the end customer, like who is it that you’re trying to sell to
0:13:56 and figure out what are their problems that you can solve.
0:13:59 So they, they have various, but everybody has problems in their life.
0:14:01 What are the problem for your ideal customer that you can solve?
0:14:02 That’s where I’d start.
0:14:08 And usually if we’re talking about sort of business offers, whether it’s services, coaching
0:14:12 courses, there’ll be one primary offer that will take somebody from where they are today
0:14:15 to that end transformation of where they want to be.
0:14:21 And that might be earning a set amount of money, having X percent freedom or whatever
0:14:21 it might be.
0:14:27 The $1 product needs to eventually lead into that big thing because if there’s no direct
0:14:32 line between the first purchase and the big purchase, you know, you’re not going to, I
0:14:38 see what a lot of people do with their, with their low ticket offers is they sell the equivalent
0:14:40 of like, Oh, look, here’s some stuff for blue shoes.
0:14:45 And then their primary offer is yellow t-shirts and it’s like the person who wants blue shoes
0:14:46 doesn’t care about yellow t-shirts.
0:14:48 So there has to be like a direct line.
0:14:53 More with Pete in just a moment, including the small percentage of customers that make up
0:14:57 the majority of your income and why you want to validate your funnel sequence with free
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0:17:30 In my case, what I could help people with was content marketing.
0:17:32 And I had a course at the time, which was the content marketing model.
0:17:35 And that’s how I did, like, built whole content marketing systems.
0:17:38 And so that was going to be the end thing for this.
0:17:39 And so I had to go back.
0:17:43 What would be the very first thing that I could do that would be very small and help somebody
0:17:48 solve the initial problem that’s stopping them getting from where they are to that big
0:17:49 transformation of where they want to be?
0:17:51 I just want to help them take that first step.
0:17:52 Got it.
0:17:54 That’s what the initial $1 product should be.
0:17:59 Then the bump offer is the catalyst to help them achieve that faster, easier, cheaper.
0:18:02 The upsell is the next problem that they have.
0:18:05 And then that all qualifies them for whatever the bigger piece is that you’re going to sell
0:18:06 them down the line.
0:18:09 What was that in your case?
0:18:09 Because it doesn’t stop.
0:18:11 It didn’t even stop with the upsell.
0:18:13 It’s like there’s still more.
0:18:17 And it harkens back to the 80-20 sales and marketing.
0:18:23 Well, for everybody who buys this thing, a percentage would buy something 10 times more
0:18:23 expensive.
0:18:26 And then a percentage of those people would buy something 10 times more expensive.
0:18:28 So what was it in your case?
0:18:28 Yeah.
0:18:30 I email my email list every single day.
0:18:33 And I’m always keeping in touch with them.
0:18:38 And this was going to be, and the way that I built things now is there’d be an automated
0:18:42 thing on the back end where it then drip feeds them information for whatever the big offer
0:18:42 was.
0:18:46 And as I said, I was going to push them towards, it was a thousand dollar course, which was
0:18:47 the content marketing model.
0:18:51 At the time, I thought that things wouldn’t take off so quickly.
0:18:52 I didn’t think that I’d see sales.
0:18:54 Initially, I was just testing things.
0:18:56 So I didn’t have everything ready for that.
0:19:00 And so I started emailing people and I was like, if you’d like some help, let me know.
0:19:04 And essentially somebody reached out and they were like, it seems like you know what you’re
0:19:04 doing.
0:19:05 Can you help us?
0:19:07 And closed.
0:19:11 I think it was like a three grand short-term consulting gig with this brand.
0:19:13 They just reached out and said, when can you start?
0:19:14 And I said, yeah, I can come in.
0:19:19 And it was very low effort for me because it was more like a coaching rather than me
0:19:20 doing the work.
0:19:21 So I would come in, help their team.
0:19:24 But that was what it became in that short-term.
0:19:29 And that’s why in those 10 days, they went from buying a $1 product to hiring me for $3,000.
0:19:30 Isn’t that crazy?
0:19:37 That’s just like such an interesting sequence of events or of sales funnel, so to speak, from
0:19:42 strangers to building up trust and authority and credibility to get somebody to pay you three
0:19:42 grand.
0:19:43 Yeah.
0:19:48 I think it’s that difference between starting off on a transactional versus a non-transactional
0:19:49 relationship.
0:19:52 The way I look at it is if somebody is willing to pay even a dollar, they have a pain that
0:19:54 they’re actively trying to solve.
0:19:59 And I always term it as in, it’s the difference between people who think information and the
0:20:00 solution is nice to have.
0:20:01 And what they do is they collect it.
0:20:05 They put it in like a Google drive folder and they’re like, I’ll come back to that in
0:20:05 a week.
0:20:08 And people who think that the information and the solution that you have is something they
0:20:09 need to have.
0:20:13 If they’re willing to pay even a dollar, they need the solution, which means they’re going
0:20:17 to be more receptive to more help to help them get that solution and the transformation
0:20:18 faster.
0:20:21 Now, we’ve heard this phrase in a few different ways.
0:20:22 People who pay, pay attention.
0:20:27 And in a lot of ways, it’s easier to take somebody when this was the example of Fiverr, you know,
0:20:33 his line was it’s easier to take somebody from $5 to $10,000 than it is to take somebody from
0:20:33 zero to five.
0:20:36 It’s like that initial transaction hurdle.
0:20:38 Like, I got to bring in my credit card.
0:20:38 I got to pay for something.
0:20:46 It’s a much bigger burden of proof to get somebody to pay you even a dollar than it is to, you know,
0:20:48 sell them more stuff once you have built that trust.
0:20:54 The way that I view it is the $1 product is little more than a filter for those who are
0:20:58 serious because everybody’s collecting these big email lists.
0:21:01 And I’ve worked with people who have got tens of thousands, hundreds of thousands of people,
0:21:05 but they’re not making the revenue that they should from that audience because there are
0:21:09 those people, like you said, who want to go from $5 to $10,000 and spend.
0:21:14 But when you’ve got so many people who just want free stuff, it’s very hard to identify who
0:21:14 they are.
0:21:19 And, you know, that whole argument of signals versus noise, it’s very difficult to find when
0:21:20 you’ve just attracted the freebie seekers.
0:21:25 So I just view the $1 products as a filter for those who are serious, and then I can continue
0:21:28 to serve and help those people achieve their goals.
0:21:37 And in your mind, the days of the ebook or the, you know, the five day email course or challenge,
0:21:42 like that stuff is kind of, that’s just like more information versus, you know, if I’m charging
0:21:46 for a thing, it’s almost got to be like you said, this custom GPT, like something that people
0:21:48 can implement right away.
0:21:53 I’m curious, your, your structure or like what, what might make sense for that intro offer?
0:22:00 I think any format can work and it’s really depending on what, who it is that you’re working
0:22:03 or targeting to work with and how you’re trying to bring them in.
0:22:07 But I know guys who are using this with like eBooks and they’re charging for the eBooks.
0:22:09 So not the free eBooks, it still works.
0:22:14 I know people who are running little challenges and the difficulty that you have with both
0:22:19 eBooks and challenges and courses is consumption because it’s great having somebody pay a dollar,
0:22:23 but you need them to actually go and consume it and use the thing to then make the high ticket
0:22:28 stuff really viable when you’re talking about nurturing them post-purchase.
0:22:32 But I don’t think that there’s any one thing that is like, doesn’t work.
0:22:36 I think the difference is whether or not you’re giving it away for free or charging for it
0:22:40 because that payment is what filters the serious people.
0:22:46 Is there any thought to what competitors are doing or do you find that people are like
0:22:51 shopping around, so to speak, for this like a dollar thing where it’s like, well, other people
0:22:52 are offering this for free.
0:22:53 So why should I pay you?
0:23:00 So I’ve not had any sort of pushbacks with anything like this and yeah, I’ve not seen it.
0:23:04 I guess there is a thing where when you’re trying to sell something, you do probably have to put
0:23:07 a little bit more effort into the marketing to make it feel a bit more premium.
0:23:12 But one thing that I’m always very confident in is that anything that I sell, I know that
0:23:15 the quality of the information and the solution inside is good.
0:23:15 It works.
0:23:16 It’s always tested.
0:23:19 So I’m not worried about somebody not getting their money back.
0:23:25 What I always try and do is make sure that they get at least two times value of what they’ve
0:23:29 paid because then nobody can ever come back and be like, oh, that wasn’t worth the money.
0:23:29 Yeah.
0:23:34 With a $1 product, you’re looking more at like a hundred times the value because nobody wants
0:23:35 to put you.
0:23:35 Yeah.
0:23:35 Yeah.
0:23:38 It’s hard to imagine to be like, can I get a refund on this?
0:23:39 This was not worth it all.
0:23:39 Exactly.
0:23:40 Yeah.
0:23:44 One of the things that I realized when I did the custom GPTs is you needed a chat GPT
0:23:47 pro account to actually be able to use them.
0:23:49 And I put that on the sales page.
0:23:50 One person didn’t notice it.
0:23:52 They emailed me like, I can’t use these.
0:23:53 And I was like, I’m happy to give you a refund.
0:23:55 They were like, that’s fine.
0:24:01 So, but yeah, no one’s going to ask for a refund for a dollar, even if it’s terrible.
0:24:06 But last week or the week before I actually bought somebody who’s doing a similar thing
0:24:13 with $3 as a product and the quality of the information inside was really quite lackluster.
0:24:17 And as a result, when they then started to put me into their email sequences to pitch
0:24:19 me the higher ticket things, I had no trust in them.
0:24:25 So when I’m doing the $1 products, I like to offer at least like a hundred dollars worth
0:24:31 of value for the $1 because, you know, this is the first touch point of this relationship.
0:24:36 If I start off on a bad foot, if I charge them a dollar and it’s terrible, it’s
0:24:40 I’m not going to be able to charge them a hundred dollars, a thousand dollars down the
0:24:40 line.
0:24:42 It still has to be of a high quality.
0:24:43 Yeah, I’m with you.
0:24:44 It’s like the first, it’s like that free sample.
0:24:49 It’s got to be good where the $1 sample, like it’s got to be enticing enough to build that
0:24:52 trust and say, yeah, this guy is worth doing business with.
0:24:52 Exactly.
0:24:56 And my thought is if you can give me a dollar and I give you a hundred dollars worth of
0:24:56 value back.
0:25:00 When I turn around and I say, this thing’s like a hundred dollars, you’re going to say,
0:25:02 how good is this thing going to be?
0:25:02 It’s going to be amazing.
0:25:04 Right, right.
0:25:05 This is helpful.
0:25:08 If I’m pausing, it’s because I’m trying to map out like what, you know, what the sequence
0:25:09 might look like.
0:25:13 Are you still selling this sequence or are you still selling this product or are you kind
0:25:16 of migrated to something else?
0:25:20 Are you still going active in these communities or is there, at a certain point, we’ve heard
0:25:25 of people doing like a self-liquidating offer, like trying to drive ad advertising traffic
0:25:30 through Facebook or Instagram or whatever, like to the $1 thing.
0:25:32 And then, you know, at least pay for the ad costs.
0:25:33 You do anything like that?
0:25:33 A hundred percent.
0:25:34 Yeah.
0:25:39 So the, the initial offer I’m not running anymore because it’s, it’s, it’s obsolete.
0:25:45 Now AI has got a much better point than it was that you don’t really need the custom GPTs
0:25:47 for what I was doing it for.
0:25:52 And, you know, it’s gone through several iterations since I was selling this and really, I don’t
0:25:56 think there’s much value in the custom GPTs that I had built for those things.
0:26:01 I still use a lot of custom GPTs in my community with people based around templates that we know
0:26:04 that works, but yeah, not using that offer still using very low ticket offers.
0:26:11 And I still begin them all at $1 and I still go out and I start spear phishing in communities
0:26:15 where there are people who are interested in this just to try and get feel.
0:26:19 Because I think the problem that a lot of people have and the mistake that they make is they
0:26:21 think ads are a cure-all.
0:26:22 It’s like a silver bullet.
0:26:24 If you just run ads, you’ll make sales.
0:26:28 Ads, in my opinion and experience are a catalyst.
0:26:30 Again, like they’re fuel to the fire.
0:26:33 You need to be able to sell one of something, then you should be able to sell 10 of it.
0:26:38 If you can sell 10 to 100 of that thing, ads will then help you sell 100 to 1,000.
0:26:44 Most people don’t have the money to throw at ads to them to find out if something works to
0:26:45 lose thousands of dollars.
0:26:50 So I want to go out and I want to see if this will sell without having to put money behind
0:26:52 it and then I’ll put money behind it.
0:26:54 So yeah, still running $1 products.
0:26:57 And then what happens is once you start running ads, you’re going to have to play with the prices
0:27:02 a bit to try and get sure, to make sure that the average order value beats the cost per
0:27:03 acquisition on ads.
0:27:07 So I’m running my own ads now for the $1 product challenge.
0:27:07 Oh, okay.
0:27:08 It’s very meta.
0:27:09 Yeah.
0:27:10 Yeah, exactly.
0:27:14 It’s all very dependent upon making sure that when they come through that initial funnel,
0:27:17 they at least break even with the acquisition cost.
0:27:23 So yeah, you do have to play around with it, but it’s just the easiest way to scale because
0:27:27 doing the spear phishing is great, but it’s difficult to scale after a certain point.
0:27:33 Yeah, it’s manual outreach or it’s time consuming versus something that you just have sales come
0:27:33 in your way.
0:27:38 And I like this idea of validate it first, make sure somebody is going to order it, get
0:27:44 those first 10, 20 people to buy it from this manual effort before trying to automate the
0:27:47 thing and then making sure those ad costs are in line.
0:27:49 What do you see?
0:27:52 I guess it varies, the cart value.
0:27:57 The cool thing is, you know, right away, like because of the sequences, you know, it’s
0:28:02 like the order bump and the upsell, like you get a pretty good sense of, well, what’s
0:28:03 the conversion rate going to be?
0:28:05 Like what’s the average cart value going to be?
0:28:08 It’s not like this three month, you know, lead time to make a sale.
0:28:09 Yeah.
0:28:13 So you can generally find out quite quickly as long as you can drive the traffic to it
0:28:14 through spear phishing or ads or whatever.
0:28:18 You can find out quite quickly whether or not things are working.
0:28:22 And like I said, then it’s just playing around with whether the offers are right to get
0:28:27 the, you know, right conversion rates on the bump offers and the upsells and also the front
0:28:27 end products.
0:28:29 And then also playing around with the price to find this sweet spot.
0:28:35 Do you have a rule of thumb on average order value that you shoot for or conversion rate
0:28:37 or, or your cost to acquire a customer?
0:28:40 Like any of those metrics that people should keep in mind?
0:28:42 Very different depending on the industry.
0:28:47 So obviously me selling this, I’m in one of the more competitive industries for, you
0:28:49 know, biz op as it’s, you know, often called.
0:28:52 So like, you know, the sort of make money online type stuff.
0:28:56 It’s very competitive up there with finance, legal, all of these things.
0:29:02 So currently for me, my average order, sorry, my cost per acquisition is around $35 to $40.
0:29:04 It kind of fluctuates between those two.
0:29:08 So if I’m paying for ads, I’m going to be paying 35 to 40 bucks just to get a customer.
0:29:14 I worked with a guy who was a sports psychologist and we were getting customers for him at $5.
0:29:20 Like it was a much lesser fee because very, very specific to a specific industry of sports
0:29:21 psychology.
0:29:26 There’s somebody in my community and they’re running a pure $1 product funnel where it’s
0:29:30 just $1 products that they’re selling on the front end, uh, language learning.
0:29:36 And again, far cheaper, but they’re also targeting markets where it is cheaper ad spends.
0:29:40 So I’m targeting the US, UK, Australia, Canada, New Zealand.
0:29:40 Yeah.
0:29:40 Yeah.
0:29:40 Yeah.
0:29:41 They’re teaching English.
0:29:46 And so they’re targeting places that are cheaper for ad costs.
0:29:47 So their costs are low.
0:29:51 So it’s really difficult to say, this is what you should be aiming for.
0:29:54 The golden rule is just that you try and have to make the average order value better than
0:29:55 the CPA.
0:30:00 And that’s going to fluctuate so much depending on the industry, the offer, the audience,
0:30:02 all of these things.
0:30:03 Okay.
0:30:04 Got it.
0:30:10 So collect that data up front and, uh, you know, through this manual method or through
0:30:13 your own traffic channels before turning on the ads.
0:30:15 Cause it’s a good way to go backwards in a hurry.
0:30:17 If you can’t, uh, recoup those costs.
0:30:21 Now it is important to know this is kind of like upfront, like where I may need to break
0:30:24 even or make a small profit on this initial ad spend.
0:30:29 But then I’ve got this list of buyers that can hire me for consulting.
0:30:30 They can buy my higher ticket stuff.
0:30:34 Like it’s an engaged group who, who hopefully has some trust in what you’re doing and can
0:30:36 continue to do business with you down the road.
0:30:43 And we’ve found people who will spend even a dollar are up to around 12 times more likely
0:30:50 to buy other programs, offers, services from you again, than if they came through from free
0:30:51 leads.
0:30:55 So you’re going to get 12 times more sales by focusing on these people than you would on
0:30:57 people who just want information because it’s nice to have.
0:31:03 And, uh, that’s even if it’s just a single dollar rather than like a 27 or $47 front end.
0:31:03 Got it.
0:31:07 Anything that we missed on the $1 product challenge?
0:31:07 I like this stuff.
0:31:09 Yeah, I don’t, I don’t think so.
0:31:11 I think breakeven is good.
0:31:13 If you can make even a small profit, it’s better.
0:31:17 And it is, you know, figuring out it’s a lot of testing between the offers to really get
0:31:18 that right.
0:31:22 But as you mentioned, running straight into do ads is fine.
0:31:27 If you have the capital to burn, because I know guys who will just throw
0:31:31 $10,000, an ad campaign to see if they can make money back and they’ll find the messaging
0:31:32 because they’ll test heavily.
0:31:34 A lot of people don’t have that money.
0:31:37 So test manually first.
0:31:40 And then once it’s working, use ads to kind of scale that reach.
0:31:41 Right.
0:31:43 Now that makes, that makes a lot of sense.
0:31:47 So growthmodels.co slash dollar.
0:31:50 You can learn more about the $1 product challenge over there.
0:31:56 We’re going to be right back with Pete, including round two, donate a business idea right after
0:31:56 this.
0:31:58 All right.
0:32:00 We’re back with Pete Boyle from growthmodels.co.
0:32:03 Round one was the $1 product challenge.
0:32:06 Round two is donate a business idea.
0:32:08 This is something that you might start yourself.
0:32:11 If you had more time, this is something that you think listeners could run with something
0:32:12 that ought to exist in the world.
0:32:14 What have you got for us here?
0:32:16 I’m going to go through something that’s very self-serving.
0:32:21 Um, one of the things that, you know, I’m really working on with my business is how to
0:32:23 increase the reach and how to attract more buyers.
0:32:28 Obviously ads are great for this, but I do a lot of email marketing and there are lots
0:32:34 of tools out there that will allow you to do newsletter exchanges and there’s tools like,
0:32:38 you know, I could name a couple of them where it’s like, Hey, you’ve got an email newsletter.
0:32:40 There’s a similar size as I do.
0:32:42 Let’s exchange newsletters.
0:32:45 Let’s see, you know, if my subscribers want to become your subscribers.
0:32:47 There’s also ones out there that will allow you to find ones to sponsor.
0:32:54 What I’m really looking for is ways that I can find affiliate marketers who have engaged email
0:33:01 lists that could be validated in some way so that then I could approach those affiliate
0:33:02 marketers and say, look, I have this offer.
0:33:05 You know, affiliate marketing is a great way.
0:33:09 If you have the right overlap of audiences to reach a new audience, I’ll give you 50% of
0:33:10 all of the sales.
0:33:15 If you can promote this to your audience and all of this, because when I’m working with
0:33:17 affiliates in the past, you attract a lot of them.
0:33:20 5% of them will drive 95% of the sales.
0:33:25 Some of them will come through and they’ll turn out that they don’t have a good list in
0:33:28 terms of engagement or that it’s just the wrong audience.
0:33:35 So it’d be great if there was some kind of directory of good vetted affiliate marketers
0:33:39 who are promoting people’s offers and are willing to do co-promotions and all of this sort
0:33:43 of stuff and had a method that you could directly outreach to those people.
0:33:44 Okay.
0:33:50 So that’s the business idea directory of essentially affiliate marketing email lists.
0:33:51 Yeah.
0:33:54 And like there’s things where it’s similar to this, but not quite.
0:33:58 There’s, you know, places where you can find newsletters for sponsorships.
0:34:03 But of course, a sponsorship is just usually one email, a static piece of text or a static
0:34:04 image, which is fine.
0:34:05 Yeah.
0:34:08 When I’ve been an affiliate for people and when I’ve had affiliates who do the best for me,
0:34:13 what we tend to do is we build a full sequence and we run it on the same kind of process where
0:34:15 it’s, you know, same concept as spear phishing.
0:34:16 We do a digital hand raise.
0:34:17 Who’s interested in this?
0:34:21 People who say that they’re interested in this, they then get like a five or a 10 day promotion
0:34:23 of the other offer.
0:34:28 That way you don’t annoy your email list, but you tend to get much higher sales than just
0:34:30 a sponsorship in somebody’s newsletter.
0:34:32 Uh, no, that makes sense.
0:34:34 Do you know, uh, Matt McWilliams?
0:34:35 I do not.
0:34:40 Matt, I think it’s the affiliate guy.com or something like, anyways, Matt’s been on the
0:34:40 show before.
0:34:47 He’s been in the affiliate space for a decade plus and he kind of coordinates these types
0:34:54 of launches, you know, geared toward product, you know, big online business celebrity type
0:34:55 of product launches.
0:34:58 And, you know, on the affiliate recruiting side is a specialty.
0:35:03 So he may have something like this internal to his company, uh, this, this kind of database
0:35:09 where he could, uh, go work with the, on the directory side, we did an episode late last
0:35:12 year with John Rush episode six 47.
0:35:18 I want to say in, in the podcast archives, where he talks all about building these types
0:35:24 of directory websites where you’re pulling in the data and that’s the value add is the
0:35:24 data.
0:35:30 And in this case, it could be, um, number of subscribers, you know, industry that they reach,
0:35:34 um, you know, how long they’ve been in business, like different data points that you could have.
0:35:39 And I don’t know, maybe there’s some business where you take a percentage of a percentage
0:35:40 of an affiliate.
0:35:44 I don’t know how you would necessarily monetize it or maybe you charge for access to it.
0:35:47 Cause it’s like, you know, there’s obviously some money to be made on the other side, but
0:35:49 this would be, um, an interesting one to run with.
0:35:51 There’s things that are close to it.
0:35:54 And even like, you know, convert kit now, it’s my, I use convert kit from email service
0:35:57 where they have a thing where it’s like the creator network and you can go and find other
0:36:02 creators, but it doesn’t tell you the size of their list, how engaged their list are,
0:36:03 how often they email.
0:36:04 You kind of have to manually do all of that.
0:36:08 And then you have to manually go and find their email address to reach out to people.
0:36:11 And it’s like, oh, you know, it’s a lot of extra manual work.
0:36:14 And I’m like, there’s, there’s a simpler solution somewhere.
0:36:18 But it’s the manual work that leads to conversations like this.
0:36:20 Cause it was one of those, you sent me a cold email.
0:36:22 It was like, Hey, I’ve got this thing called the $1 product.
0:36:23 Do you want to promote it?
0:36:25 It was like, well, I’ll learn a little bit more about this.
0:36:27 It’s like, Hey, this is kind of interesting.
0:36:29 And now we got to do a whole episode about it.
0:36:32 So there’s, there’s pros and cons to it.
0:36:36 It sounds like you need a, um, a virtual assistant to do some of this initial research and outreach
0:36:37 for you.
0:36:38 That’s the thing.
0:36:38 Yeah.
0:36:42 And I’m, you know, there’s part of me, which is thinking if I get somebody in to help almost
0:36:46 as an affiliate partner, um, if we can just chronicle people that we find who are up for
0:36:51 it, get their approval, we could maybe create this because I know, um, certain tools as well.
0:36:56 They started off literally with this as similar thing, but for like newsletter promos, there’s
0:37:02 a guy that I know who did this started off as an air table and eventually sold the business.
0:37:08 So, and that was, it was just finding newsletters, pulling all the stats for co-promotions, uh,
0:37:10 doing intros between people.
0:37:13 And then it became a, an acquisition for somebody else.
0:37:15 Like somebody came along to acquire the business.
0:37:15 Yeah.
0:37:17 This would be, uh, no, no, no.
0:37:20 The more we talk about it, the more I think like, yeah, this is super valuable because there’s
0:37:23 going to be, there’s always going to be people with offers.
0:37:27 So there’s always going to be people with email lists who need those offers to monetize their
0:37:30 business and help their, uh, and help their audience.
0:37:31 So it makes, you know, it makes sense.
0:37:33 In fact, can we go back and come up with another idea?
0:37:35 Can we, can we just do this one ourselves?
0:37:36 Yeah.
0:37:36 Yeah.
0:37:37 Maybe so.
0:37:38 You got anything else?
0:37:40 You got another idea you want to toss out?
0:37:40 Yeah.
0:37:40 Yeah.
0:37:42 I’m going to have to come up with one quickly.
0:37:47 Um, but I think in like personally, I would find this as like quite a valuable idea.
0:37:52 If somebody would create that, it’s definitely something I would be interested in testing.
0:37:52 Yeah.
0:37:53 There’s definitely something here.
0:37:58 Cause there is, like you said, there’s the matchmakers for the email newsletter sponsorships.
0:38:01 Um, the exchange or like, do you have a, on this newsletter exchange?
0:38:03 Like promo swap type of database?
0:38:05 Do you have a resource that you like on that front?
0:38:06 That’s an interesting one.
0:38:08 Letter growth is one.
0:38:13 And I believe that, uh, I think beehive has one that’s kind of, uh, built in.
0:38:14 I’m not sure.
0:38:15 I don’t use beehive.
0:38:19 And like I said, convert kit also has one where you can recommend one another.
0:38:24 Um, and like basically when somebody subscribes your email list, it throws up a pop up and
0:38:26 it says, Hey, these are my friends.
0:38:28 You should also consider subscribing to these guys.
0:38:31 And then there’s, um, a paid version where it’s.
0:38:37 Uh, spark loop, which integrates with a lot of these tools and you can use them to basically
0:38:43 say anybody who sends me a subscriber, I’ll send them $1, $2, $5 per subscriber.
0:38:47 If you’re going to do that, it’s very important to know your payback periods and the average
0:38:51 customer lifetime value so that, you know, you’re not going to get into trouble by spending
0:38:53 $5 per subscriber.
0:38:55 And then actually they only pay you on average $3 back.
0:38:56 Yeah.
0:38:56 Yeah.
0:39:03 I’ll go backwards on that math, but there’s, there’s something to this matchmaker model and
0:39:06 we’ve seen it in sites like podcast guests.com.
0:39:11 Like how do we, um, match people who have podcasts with people who need guests or with people who
0:39:15 want to guest on podcasts and even like help a reporter, you know, journalists who need sources
0:39:17 and sources who want to get some press.
0:39:20 So there’s, there’s definitely some precedence for it.
0:39:20 So I like this one.
0:39:26 We’ll, we’ll call this the affiliate marketing email database, uh, business idea.
0:39:26 There we go.
0:39:27 All right.
0:39:28 That is round two.
0:39:30 Round three is what we call the triple threat.
0:39:36 And the first part of this is a marketing tactic that is working right now.
0:39:37 $1 products.
0:39:40 Yeah.
0:39:45 One thing, I mean, that’s working right now that I’m really trying to do more of is YouTube.
0:39:51 I think YouTube is one of the best tools that people aren’t using as much as they should.
0:39:56 Um, and the reason that I really like YouTube is there is a great balance between both paid
0:39:58 and organic on the same platform.
0:40:00 And so you could probably get compounding gains.
0:40:06 And that’s one thing that we’re trying to really look at is how you can use paid to accelerate
0:40:09 the organic growth or vice versa.
0:40:12 Um, with like retargeting audiences and all of this sort of thing.
0:40:18 But I don’t, I see a lot of people who are jumping into still things like Facebook ads and I’m
0:40:23 running Facebook ads, but I think YouTube really is a better long-term opportunity.
0:40:25 You see a lower cost of acquisition there?
0:40:29 Not so much yet because I’m still really getting to grips with the advertising.
0:40:34 And I think that’s probably my shortcoming that I’m not seeing as good as CPA.
0:40:38 I’m seeing much cheaper click-through rates and all of this sort of stuff.
0:40:47 But I think as well, as we move towards more AI content, having real people on camera is one
0:40:53 of the things that is at the minute harder for AI to sort of recreate.
0:40:58 And so as most selling is done based on trust and based, you know, people buy from people.
0:40:58 Yeah.
0:41:03 Having a face to the brand really seems to be working quite well, even with smaller audiences.
0:41:09 I know guys with like, you know, 2000 subscribers who are pulling good money because they’re not
0:41:15 relying on YouTube’s ad revenue, but they’re using it as a way to bring them, uh, course customers,
0:41:16 coaching clients, that kind of stuff.
0:41:22 What’s a typical call to action for you on a, on a YouTube video or an example of a video
0:41:23 that’s done well?
0:41:26 Again, this is one thing that I am currently figuring out.
0:41:30 I am about 17 days into a test I’m doing.
0:41:35 I run a lot of my own little experiments where I’m trying to publish one long form YouTube
0:41:37 video per day, about 10 minutes each.
0:41:41 So I’m about 17 days maybe into doing one video per day.
0:41:42 Okay.
0:41:47 And so I’m happy to check back in and say what worked and what didn’t, uh, what I’ve tried
0:41:56 as well is a method similar to the spear phishing approach where basically I pick some of my top
0:41:59 performing videos, put money behind them to reach the audience and then retarget those
0:42:05 people with a conversion focused ad because you can get reasonable reach for quite cheap on
0:42:06 YouTube.
0:42:10 And then basically if I know somebody watches the video, they engage with it, they click
0:42:10 on the thumbnail.
0:42:15 If I then hit them with a conversion focus, I’d like, Hey, this system will help you attract
0:42:16 buyers, not freebie seekers.
0:42:17 Check it out over here.
0:42:22 That’s one thing that I’m sort of working on really just nailing down at the minute.
0:42:22 No.
0:42:22 Okay.
0:42:26 This is, this is the kind of nitty gritty stuff that I, that I totally love geeking out
0:42:27 on.
0:42:33 So organic video, long form content, see which is naturally going to rise to the top, put some
0:42:35 money to boost that, you know, promote that video.
0:42:40 Go to a, you know, a broader audience, send it out to the world and then retargeting those
0:42:41 to be, Hey, you watch this thing.
0:42:46 And then if you’re serious about this, this is the call to action related video where it’s
0:42:48 like, and now go, go buy the $1 thing.
0:42:50 And now you’re into my, into my sequence.
0:42:50 Exactly.
0:42:51 Yeah.
0:42:55 And at the same time, what I’m doing is people who buy the $1 product challenge, obviously
0:42:59 I have other offers that are the primary profit drivers.
0:43:01 Now I want to get people into them.
0:43:02 Again, people buy from people.
0:43:06 If I can get them to consume and get a result from the $1 product challenge, they’re primed
0:43:07 to buy the next stuff.
0:43:09 But you know, people buy from people.
0:43:13 So I’ve recorded YouTube videos that help coach people through those next stages as well.
0:43:19 So that’s why I think YouTube is way more sort of flexible than a lot of other channels.
0:43:22 And at the same time, I could keep going for hours on this.
0:43:24 I’m sorry, this is going to be a long one.
0:43:28 But one thing that I’ve been doing as well is trying to figure out how you can be, you
0:43:31 know, there’s the whole concept of omnipresent marketing.
0:43:34 People log into Facebook, they see you, they’re on LinkedIn, they see you.
0:43:37 It’s very difficult to do that because it’s so much content to produce.
0:43:44 If I can produce one 10 minute video, I use a tool which then separates that into seven or
0:43:47 eight different short videos for YouTube shorts, TikTok, LinkedIn.
0:43:53 I can then have AI take the transcript and turn that into a couple of different social posts.
0:43:57 And so that’s another thing that I’ve been playing around with is as I’m recording one
0:44:02 of these long form videos every day, one long form video is becoming five to 10 shorts.
0:44:06 It’s becoming five social posts, text posts.
0:44:13 Those shorts and text posts can be used across Twitter, LinkedIn, TikTok, YouTube, Facebook,
0:44:14 Instagram.
0:44:16 Is there a specific tool that you’re using for that?
0:44:19 Because that’s the next question, a new or new to you tool that you’re loving right now.
0:44:19 Yeah.
0:44:24 So the tool that I’m really like relying on at the minute is, I don’t know whether it’s
0:44:25 Descript or Descript.
0:44:30 I don’t know how they want you to pronounce it, but Descript, D-E-S-C-R-I-P-T.
0:44:31 Yeah.
0:44:35 And it’s, um, you know, I, I picked it because I hate video editing.
0:44:35 I’m no good at it.
0:44:36 It takes up too much time.
0:44:39 And this, it transcribes the video.
0:44:43 And if there’s a piece of the video you don’t like, you just cut that, the words from the
0:44:46 transcription and it’ll edit it out of the video for you.
0:44:46 So much easier.
0:44:50 They have an AI tool built in where it’s like, Hey, create some clips.
0:44:52 You give it some prompts about what kind of clips you want.
0:44:54 You go away for three minutes.
0:44:56 You come back, your clips are ready.
0:44:57 Oh, I didn’t know they had that.
0:45:01 Cause we use, we use Descript or my, my video editor uses Descript for the video editing stuff
0:45:01 too.
0:45:05 And it’s like the first time you use it, it’s like just this amazing experience of like,
0:45:09 I could just edit the transcript versus like having to find that specific timestamp for the
0:45:11 video and drag the thing over here.
0:45:12 No, it’s really, really cool.
0:45:18 And then, yeah, it’s Underlord, you know, it’s at the top in the top right corner of
0:45:23 the, um, of the sidebar on the right hand side, Underlord, and then scroll down about two thirds
0:45:23 of the way.
0:45:27 There’s a bit which says create clips and it’ll do all of that for you.
0:45:30 You can pick a template so that it designs it well, and then it would just export them
0:45:31 all into that template.
0:45:38 You have to double check them because sometimes the clips are no good, but you know, it’s the
0:45:40 fastest way that I’ve found to do clips.
0:45:45 And then I’m using, um, socialb.com, I think basically what that allows me to do.
0:45:50 So yesterday I exported 15 shorts and I was like, this is going to take a long time for
0:45:53 me to schedule this social be allows you to set up queues.
0:45:59 So at 1 PM every day, share a short to these platforms.
0:46:04 And then I just upload 15 shorts, give them the title and it adds them to the queue.
0:46:06 And I don’t actually have to manually schedule anything out.
0:46:07 Okay.
0:46:08 Socialb.com.
0:46:10 That’s, uh, that’s a new one.
0:46:11 We’ll link both of those up.
0:46:16 Descript and Socialb, other tools that you mentioned in the call, Thrivecart, Loom, ConvertKit,
0:46:19 Beehive, lots of different tools at your disposal.
0:46:23 So we’ll link up, uh, all of those in, uh, in the show notes for this episode.
0:46:28 The last question of the triple threat is your favorite book from the last 12 months.
0:46:34 So it’s, it’s, it’s maybe not my favorite book from the last 12 months, but as I mentioned,
0:46:36 I’m really trying to get better at, uh, YouTube.
0:46:41 And what I found is headline thumbnail are really important for getting people to engage with the
0:46:41 video.
0:46:45 And the first 30 seconds are really important to get people invested.
0:46:50 And so I’ve been rereading a book called great leads, which is a direct response marketing book
0:46:53 about how to start sales messages.
0:46:57 Like I need, this is from guys who would write 10, 20,000 word sales letters.
0:47:01 Um, and this book is all about how to open them up in the different ways that you can do
0:47:06 it to hook engagement and hook like curiosity from people to get them to want to read the rest.
0:47:08 So, you know, you grab that attention early.
0:47:13 Um, so that’s one thing that I’ve been rereading in an attempt to see if I can port any of
0:47:15 that information over to video.
0:47:16 Okay.
0:47:19 Great leads, a direct response marketing book.
0:47:22 We will link that one up as well.
0:47:24 That’s, uh, that’s new to me again.
0:47:30 Uh, you can find Pete at growth models.co growth models.co slash dollar is, uh, the place
0:47:33 to start your $1 product challenge.
0:47:35 Big thanks to Pete for sharing his insight.
0:47:39 Big thanks to our sponsors for helping make this content free for everyone.
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0:47:46 sponsors in one place.
0:47:49 Thank you for supporting the advertisers that support the show.
0:47:50 That is it for me.
0:47:51 Thank you so much for tuning in.
0:47:55 If you’re finding value in the show, the greatest compliment is to share it with a friend.
0:47:57 So fire off that text message.
0:48:02 You might benefit from adding the $1 product challenge to their business until next time.
0:48:04 Let’s go out there and make something happen.
0:48:06 and I’ll catch you in the next edition
0:48:07 of the Side Hustle Show.