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Dan Lok

From Start to Success: Hiring Rockstar Leaders for Your Business

by

When my business started to take off it was exhilarating.

It was like 1000 volts running through my body.

I felt like I was finally running a business.

But as business grew, so did challenges…

Tasks piled up, and the weight of responsibility had started to wear me down.

Realizing I couldn’t do it alone, I sought experienced team members who could share the load. 

Finding the right executives became my mission.

Full transparency: Not everyone I hired turned out to be an A-player, I have some horror stories I’ll save for a future post.

But I did learn through the process the art of executive hiring.

These are the people that will have your back first.

They will take the burden of making every decision off you.

Because hopefully they’ll be SMARTER than you in their area of expertise.
So, buckle up as we explore the art of executive hiring, sharing proven methods to find the best fit for your business’s future.

Table of Content:

  1. The Right Time You Should Bring in New Leaders
  2. The Organizational Structures You Should Consider
  3. The Role You Should Fill Firs
  4. The Place You Could Find the Right People
  5. The Hiring Process You Should Know
  6. Conclusion

The Right Time You Should Bring in New Leaders

Let’s dive into when it’s prime time to bring in some fresh faces to lead the charge in your business!

A image shows a man in suit holding the card with best time on it.

  • During Growth Spurts

Imagine your business is booming, with demand skyrocketing and new opportunities popping up left and right. That’s the perfect moment to consider bringing in some new leaders to help steer the ship. 

  • When Big Changes Are Happening

Change is in the air, and your business is gearing up for something big—like launching new products or venturing into uncharted territories. This is the time to bring in executives who’ve been there, done that, and can guide you through the transition. 

  • When You’re Feeling Swamped

Ever find yourself buried under a mountain of tasks and decisions? It happens to the best of us. That’s your cue to bring in reinforcements, especially on the technical side.
Imagine you’re running a services company and struggling to keep up with the ever-evolving technology landscape. Bringing in an executive with a deep understanding of emerging technologies and a knack for implementing innovative solutions could be just what your business needs to stay ahead of the curve.

  • Before Starting Important Projects

Got a big project on the horizon, like launching a new product line or expanding into a new market? Now’s the time to beef up your leadership team. Executives with experience in these areas can be your secret weapon for success.
For instance, if you’re gearing up to take your business global, hiring executives with international chops could be the game-changer you need.

  • When Thinking About the Future

Planning ahead is key, especially when it comes to your business’s future. Hiring executives early on ensures you’re prepared for whatever twists and turns lie ahead.

 

The Organizational Structures You Should Consider 

Let’s talk about how to structure your team for success! Here are three key organizational structures you should consider.

A man in suit is drawing an organizational chart.

  • Hierarchical vs. Flat Organizational Structures

In a hierarchical structure, it’s like a pyramid—big boss on top, managers in the middle, and employees at the bottom. Works well for big corporations or government agencies.
But in a flat structure, it’s more like a team, with fewer layers and everyone sharing ideas. Ideal for industries where creativity and collaboration matter most, like coaching or consulting.

  • Matrix Structures for Specialized Roles

Now, let’s say you’re working on a big project that requires expertise from different areas, like finance, marketing, and operations. That’s where a matrix structure comes in handy. It’s like having multiple bosses, but in a good way!
Team members report to both project and functional managers, making collaboration seamless. Perfect for consulting firms or services companies juggling complex projects and specialized roles. 

  • Creating Agile Teams for Dynamic Environments

In today’s fast-paced world, adaptability is key. That’s where agile teams shine! Picture them as squads tackling projects in short bursts called sprints. They’re flexible and quick to pivot, ideal for industries like tech startups.
Say you’re launching an online course—assemble an agile team with members from marketing, content creation, and customer support for quick, efficient results.

The Role You Should Fill First

Let’s get down to business and figure out which role you should fill first to take your team to the next level! Here’s how you could do it.

A man is moving a chess

  • Identify Your Biggest Need

Think about what’s keeping you up at night. Is it strategic planning, market expansion, or team leadership?
For example, if you’re a tech startup founder without much marketing knowledge, you might need an executive with marketing expertise.

The name of the game is: Find someone who complements you

  • Look at Your Goals

Where do you see your business in the next year or so? Do you want to expand your services, increase revenue, or maybe streamline your operations? Let your goals guide you in prioritizing which role to fill first.
If you’re aiming to expand into new markets, hiring a sales or marketing executive could be the ticket to reaching your goals faster.

  • Evaluate Your Team’s Skills

Take stock of the talent you already have on your team. Are there gaps in expertise or areas where you need more support?
For instance, if you’re running a services company and struggling with project management, you might want to bring in someone with strong organizational skills to keep things running smoothly.

  • Consider Your Industry

Every industry has its own unique challenges and opportunities. Take a look at what’s happening in your industry and think about how it might impact your business.
If you’re an SEO expert in a competitive market, you might need someone to help with marketing and branding to stand out from the crowd.

  • Assess Your Own Strengths and Weaknesses

Be honest with yourself about where you excel and where you could use some help. Maybe you’re a whiz at coming up with new ideas but struggle with the nitty-gritty details of running a business. In that case, hiring someone with strong analytical skills could complement your strengths and shore up your weaknesses. 

The Place You Could Find the Right People

Alright, let’s roll up our sleeves and dive into where to find the perfect people to fill those crucial roles in your team. Here are some top-notch options.

a man is using a laptop with right hand. His left hand is holding a network illustraion.

  • Promotion from Existing Team Members

Look no further than your own backyard! Your current team members already know the ins and outs of your business and culture, so promoting from within can be a great option. 

If you are just starting out, this would not be a great option for you, look outward.

  • Personal Network

Your connections can be a goldmine for finding top talent. Reach out to friends, colleagues, mentors, and advisors and let them know you’re on the lookout for experienced executives. They might have just the right person in mind or be able to introduce you to someone who fits the bill perfectly.

It could even be your clients. I have hired people who were once a valuable client and decided to become part of the executive team.

  • Executive Search Firms

When you need to cast a wide net and find the best of the best, executive search firms are your go-to. These experts specialize in hunting down top-level talent and have access to a vast network of experienced candidates.
Here is a list of executive search firms.

  • LinkedIn

This professional networking platform is a treasure trove of talent, with millions of professionals from every industry imaginable.
To find the right executive candidates on LinkedIn, start by refining your search criteria based on industry, job title, and experience. Then, reach out to potential candidates with personalized messages highlighting the opportunity and why they’d be a great fit. Utilize LinkedIn’s messaging feature to engage in conversations and build relationships.

The Hiring Process You Should Know

1. Create Job Analysis and Job Description

First things first, you’ve gotta craft job analysis and descriptions to clarify expectations, attract suitable candidates. It helps you clarify who you need as well.  I conclude what to do and how to do when creating job analysis and descriptions

A man is writing "job description on the board.

  • Start with Research
    Before drafting the job analysis and description, gather information about the role by consulting with relevant stakeholders, such as department heads. Understand the purpose of the role, its responsibilities, and how it fits into the overall organizational structure.
  • Identify Key Responsibilities
    Break down tasks into specific, actionable items to provide clarity for potential candidates. Focus on essential functions that are critical to the success of the role.
  • Define Qualifications and Skills
    Differentiate between “must-have” and “nice-to-have” to prioritize essential criteria. Include both technical skills and soft skills relevant to the role.
  • Specify Educational Requirements
    This may include degrees, diplomas, licenses, or professional certifications relevant to the industry or specific job functions.
  • Consider Experience Levels
    Determine the level of experience required for the position, whether it’s entry-level, mid-level, or senior-level. Clearly communicate the expected years of experience and any industry-specific experience desired.
  • Include Reporting Structure
    Outline the reporting structure for the role, including who the position reports to and any direct reports the role may have. Clarify lines of communication and accountability within the organization.
  • Highlight Company Culture and Values
    Provide insight into the company culture, values, and work environment to attract candidates who align with the organization’s ethos. Describe the company’s mission, vision, and core values to appeal to candidates who share similar beliefs.
  • Use Clear and Concise Language
    Write the job description using clear, concise language that is easy to understand. Avoid jargon or industry-specific terminology that may be unfamiliar to candidates. Use bullet points and short paragraphs to improve readability.
  • Review and Revise
    Review the job analysis and description carefully before finalizing it. Seek feedback from relevant stakeholders to ensure accuracy and completeness. Revise as needed to reflect any changes or updates to the role.

2. Screen Applications

Once the job posting goes live, the applications will start pouring in. Now comes the fun part—sifting through them all to find the cream of the crop. You’ll wanna look for candidates who meet the initial criteria. I summarize some tips to screen applications.

A man in suit is screening several CV.

  • Establish Clear Screening Criteria
    Before reviewing applications, establish clear criteria based on the job requirements, qualifications, and skills outlined in the job description. This will help you focus on relevant factors and quickly identify suitable candidates.
  • Use an Applicant Tracking System (ATS)
    Consider using an ATS to manage and streamline the application screening process. An ATS can automate tasks such as resume parsing, keyword matching, and initial screening based on predefined criteria, saving time and effort.
  • Focus on Key Qualifications
    Look for candidates who meet the essential criteria for the role, such as specific technical skills, certifications, or years of experience.
  • Assess Relevant Experience
    Look for candidates who have demonstrated success in similar positions or industries.
  • Check for Cultural Fit
    Look for indications of cultural fit in their resumes, cover letters, and any additional materials submitted with their applications.
  • Consider Additional Materials
    Review any additional materials submitted by candidates, such as portfolios, work samples, or references. These materials can provide further insights into candidates’ skills, accomplishments, and suitability for the role.
  • Utilize Assessments
    Consider administering a brief assessment, such as a personality test like MBTI to gather initial insights into candidates’ personality traits, preferences, and working styles. This can help you identify candidates who are likely to be a good fit for the role and the organization’s culture.

3. Interview

Qualified candidates will be invited to interviews to see if they’ve got what it takes to rock the role. Depending on the position and your preferences, interviews could take many forms, from one-on-one chats to panel discussions and even role-playing exercises.  Here are some recommended questions to interview executives specifically. 

A man is interviewing a lady through a virtual meeting.

  • Leadership and Management Style
      • How do you empower and motivate your team members to achieve their full potential?
      • Can you provide examples of how you’ve successfully led teams through challenging situations or changes?
  • Strategic Vision and Planning
      • How do you stay abreast of industry trends and market developments to inform strategic decision-making?
      • Can you discuss a time when you developed and implemented a successful long-term strategic plan?
  • Team Building and Talent Development
      • What strategies do you use to foster a culture of collaboration, innovation, and continuous learning?
      • Can you share examples of how you’ve built high-performing teams and developed future leaders?
  • Decision-Making and Problem-Solving
      • How do you approach decision-making in high-pressure situations or when faced with ambiguity?
      • Can you discuss a complex problem or challenge you encountered in your previous role and how you resolved it?
  • Communication and Stakeholder Engagement
      • How do you effectively communicate your vision, goals, and expectations to stakeholders within and outside the organization?
      • Can you share examples of how you’ve built strong relationships with key stakeholders, including board members, investors, clients, and employees?
  • Track Record and Achievements
    • What are some of your most significant accomplishments or contributions in your previous executive roles?
    • How do you measure success in your current or previous positions, and what metrics do you use to track progress?

4. Select the Right One

After all the interviews are said and done, it’s time to pick your winner! The hiring team will huddle up and evaluate each candidate based on their skills, experience, cultural fit, and potential for growth within the organization. It’s kinda like assembling your dream team, so choose wisely! 

5. Reference and Background Checks:

Before you pop the champagne and send out that job offer, there’s one last step—reference and background checks. You’ll wanna make sure your top candidate is the real deal.  

A man in suit is checking the check list.

  • Reference Checks
    • Direct Contact
      Candidates provide contacts, which may include former supervisors, or professional contacts. You could ask questions about the candidate’s job performance, work ethic, and character.
    • Written References
      Candidates provide written references, which are typically in the form of letters or emails from previous employers or professional contacts.
    • Reference Checking Services
      Some companies offer reference checking services where they contact references on behalf of the employer to verify information and provide feedback.
  • Background Checks
    • Employment Verification
    • Education Verification
    • Criminal Background Checks
    • Professional License Verification
    • Third-Party Background Screening Services
  • Online Research and Social Media Screening
    It provides insights into candidates’ professionalism, reputation, and alignment with company values. but employers must be mindful of privacy and discrimination laws when using this method.

6. Send the Offer

Once everything checks out, it’s time to seal the deal! The organization extends a formal job offer to the selected candidate, complete with all the juicy details like salary, benefits, start date, and any other terms and conditions of employment. It’s like getting the golden ticket to the chocolate factory—exciting stuff! 

A man is hand shaking with a lady within a group of people.

Conclusion

Congratulations on completing this journey to enhance your team by hiring the executives! I have covered almost everything from when you should find the executive to how to find the right one.  You’ve gained valuable insights. Now, take the next step in streamlining your hiring process with our talent acquisition tool.
It is designed to assess candidates’ personality, work habits, and more, it ensures you build a team that’s not just skilled but also aligned with your company culture. With this tool in your arsenal, you’re equipped to make informed hiring decisions and take your business to new heights. Let’s get started!

Growing with Facebook Ads: 4 Strategies to Combat High CPA and Maximize ROAS

by

If you are a business owner selling high ticket products or services and have been running ads, you’ve experienced this.

Your ad budget vanishes into thin air with high Cost Per Acquisition (CPA).

Fear not, we’re about to embark on a journey to reclaim your ROI and propel your business to new heights!

In this comprehensive guide, we’ll uncover below 5 powerful strategies to combat high CPA and maximize Return on Ad Spend (ROAS) on Facebook ads.

  1. Refine Audience Targeting and Utilize Meta Technologies
  2. Optimize Ad Creative
  3. Execute Bid Strategies Smartly
  4. Deploy Retargeting
  5. Conclusion

Are you ready to Combat High CPA and Maximize ROAS? Let’s dive in now.

I. Refine Audience Targeting and Utilize Meta Technologies

Picture this: You’re selling high-end fitness gear. Now, who’s more likely to whip out their wallet – a couch potato or a gym enthusiast?

Exactly! By narrowing down your target audience, you’re not just shooting in the dark; you’re aiming straight for the people most likely to buy.

Alright, let’s dive into how you can make your audience targeting razor-sharp with Meta Ads. Here are 4 practical strategies that will help you reach the right people with your ads:

1. Leverage Detailed Targeting Options:

  • Utilize Interest Overlays
    Instead of relying solely on broad categories, drill down into specific interests that are relevant to your target audience.
    For example, if you’re promoting a fitness app, rather than targeting the broad category of “fitness enthusiasts,” narrow it down to interests like “yoga,” “running,” or “weightlifting.”
  • Combine Demographics with Interests
    By combining demographic information with interests, you can create highly targeted audience segments. For instance, if you’re marketing a skincare product for men, you can target men aged 25-40 who are interested in grooming and skincare. This ensures that your ads are reaching the right audience with the highest potential for conversion.

A image shows the detailed targeting section in Facebook ads manager.

2. Utilize Custom Audiences

A custom audience is an ad targeting option that lets you find your existing audiences among people across Meta technologies.

A image shows the custom audience section in Facebook ads manager.

  • Segment Your Audience
    Break down your custom audience into groups using different factors such as purchase history, engagement level, or demographic information. This allows you to tailor your ads more effectively to different audience segments, ensuring that you’re delivering the right message to the right people at the right time.
  • Explore Lookalike Audiences
    Now that you’ve unlocked the power of custom audiences, let’s kick it up a notch with lookalike audiences. Meta gathers lookalike audiences, which is based on your custom audiences. It means let Meta find potential clients for you.
    One more practice you must try after generating a series of lookalike audiences. It is to optimize effectiveness on finding better audiences.
    Step 1. Deliver identical ads to all lookalike audiences with initial bids.
    Step 2. Evaluate ad performance based on revenue per conversion or the lifetime value of individuals in each audience.
    Step 3. Adjust bids for each audience according to your findings, allocating higher bids to more valuable audiences and lower bids to less valuable ones.

A image shows the Lookalike Audiences section in Facebook ads manager.

3. Refine with Audience Insights:

Use Meta’s Audience Insights tool to gain valuable insights into the demographics, interests, and behaviors of your target audience.
This information can help you refine your targeting even further and tailor your ads to better resonate with your audience. Whether it’s tweaking your messaging or adjusting your targeting parameters, Audience Insights gives you the data you need to make informed decisions and maximize the effectiveness of your ads.

A image shows the Meta's Audience Insights tool in Facebook ads manager.

II.Optimize Ad Creative

Ad creative is the first thing your audience sees and what grabs their attention so you should always make it the best. Think of it like a handshake – it’s your chance to make a great first impression.

Compelling visuals and persuasive copy can draw people in, spark their interest, and ultimately drive them to take action. So let’s dive in and uncover how to create ad creatives that captivate and convert!

1. Craft your ads in optimal formats.

  • Provide High-Quality Images and Videos
    Let’s ensure your ads shine bright! Opt for sharp, high-quality images that truly reflect your message. Offer Meta a variety of ad formats to guarantee your visuals look stunning across different devices. Common sizes include 1920×1080, 1080×1080, 1080×1920, and 1350×1080.
  • Craft Eye-Catching Graphic
    Jazz up your visuals! Think vivid hues, strong fonts, and captivating pictures. Picture bold product shots, lively drawings, engaging charts, and lively animations. Adding contrasting colors, innovative layouts, and eye-catching effects amps up the appeal and impact of your graphics.From ClickMinded. The image lists out what is included and the one sentence to solve the pain.

ClickMinded. The image lists out what is included and the one sentence to solve the pain.

From MarketerHire. The image shows all the solid numbers and it’s well designed.
MarketerHire. The image shows all the solid numbers and it’s well designed.

  • Keep Video Captivating
    Short attention spans call for concise video ads. The first 3-5 seconds of the video must grab attention. Especially with the visual aspects since many people watch with audio off. Keep the video length under 90 seconds for the vertical video dimensions so Meta can place it in more placements.From Onepeakcreative. It shows a video with subtitles for people who don’t turn on audio.

Onepeakcreative. Add subtitles for people who don’t turn on audio.

From Scaleprompts. It shows a video with important information in the caption.

Scaleprompts. Put important information in the caption.

2. Feature the most captivating and attention-grabbing content.

  • Explore Your Competition
    Review your competitors’ ads and marketing tactics. What creative approaches do they employ? Which messaging and visuals yield results? Use these insights to inspire your own innovative concepts. Check them out here.
  • Tap into Emotions
    Harnessing emotions in your ads can deeply resonate with your audience, sparking genuine connections and driving action. Let’s dive into how to craft compelling stories that inspire and engage your potential clients.
  • Craft Compelling Stories
    Share narratives that mirror the dreams and struggles of your target audience. For instance, a career coach might recount a client’s journey from career dissatisfaction to finding fulfillment after coaching.
  • Feature Real-Life Stories
    Highlight testimonials from satisfied clients who have benefited from your services. Showcase their progress and successes to evoke emotions and establish credibility.
    For example, a financial advisor could spotlight clients who achieved financial stability through their advice.A illustration shows storytelling
  • Use Symbolic Imagery
    Incorporate visual metaphors that represent the desired outcomes of your services. For instance, a life coach might use images of paths leading to summits to symbolize personal growth.
  • Enhance with Sound
    Select music and sound effects that amplify the emotional impact of your ads. Consider uplifting tunes or motivational sounds to inspire your audience. For instance, a wellness coach could use soothing nature sounds for relaxation.
  • Address Pain Points
    Highlight common challenges faced by your audience and present your services as solutions. For example, a business consultant could showcase how their strategies overcome business hurdles.From R&G Immigration Solutions. It shows the ads Address Pain Points


R&G Immigration Solutions

  • Foster Community
    Celebrate shared experiences and values to create a sense of belonging. For example, a leadership coach could highlight client achievements, fostering a supportive community.From Dan Lok. It shows a ad which is about foster Community


Dan Lok.

  • Spotlight Unique Selling Points
    Identify what makes your service stand out—its unique selling points (USPs). Showcase these USPs creatively, emphasizing their benefits and value proposition to engage your audience effectively.
  • Highlight Specialized Expertise
    Emphasize your distinctive qualifications or specialized skills that distinguish you. For example, a career coach could underscore their HR background, demonstrating insider industry knowledge.
  • Focus on Achievements
    Showcase tangible results clients can achieve through your services. For instance, a fitness coach could display transformational before-and-after images of clients.From Boundless leads. It shows the real metrics to prove achievements.


Boundless leads. It shows the real metrics to prove achievements.

  • Offer Tailored Solutions
    Highlight your ability to customize services to meet individual client needs. For example, a marketing consultant could tout personalized strategies based on thorough audience analysis.From Dentist Offers. It shows the dentist provide tailored solution in the ad.


Dentist Offers

  • Present Client Successes
    Share client testimonials to validate the effectiveness of your services. For example, a business consultant could feature case studies demonstrating successful outcomes.
  • Promote Unique Methodologies
    Highlight proprietary techniques that set your services apart. For example, a productivity coach could promote their unique time management system.From Grammarly. It shows an ad shows 15 years experience and AI utilization.


Grammarly. The ad shows 15 years experience and AI utilization.

  • Offer guarantees or risk-free trials to instill confidence.
    For example, a financial advisor might offer a free initial consultation.From Fit Kingdom Fitness Plus. It shows the ad provides free trial


Fit Kingdom Fitness Plus.

  • Clarify Value Proposition
    Clearly articulate the benefits of your services and how they address client challenges. For example, a leadership coach could stress their focus on developing leadership skills.

From Upwork. It shoes how to demo Clarify Value Proposition in an ad
Upwork

  • Showcase Recognition
    Highlight industry awards or accolades to bolster credibility. For example, a legal consultant could mention industry publications where they’ve been featured.From Maria Sophocles. It shows she had a speech in Ted Talk in an ad.


Maria Sophocles

  • Experiment with Different Formats
    Try out various ad formats like static images, videos, carousels, and interactive ads across different platforms. Test them to find which ones connect most with your audience and prompt the desired response.
  • Think Outside the Box
    Feel free to get creative and think outside the box. Explore humor, storytelling, user-generated content, or interactive features to grab attention and connect with your audience in fresh and unexpected ways.An illustration demos think outside of box.
  • Test and Iterate
    Let’s put your creative ideas to the test! Use A/B testing and analytics to measure which ones resonate most with your audience. Begin testing with a small audience or budget to minimize risk and gather initial insights before scaling up.Then, refine and optimize based on the results to continuously improve your ad performance.

III. Execute Bid Strategies Smartly

1. Understand Bid Strategies

Harnessing bid strategies in ads is crucial for optimizing budget allocation, ensuring efficient spending, and maximizing campaign performance, ultimately driving better results and ROI.

  • Highest volume
    Meta makes the most out of your budget, striving to achieve the maximum number of results possible. For instance, a consultancy firm hosting a series of webinars might utilize this strategy to attract as many attendees as possible, regardless of the cost per registration.
    This strategy is ideal if you
    Want to exhaust your entire advertising budget effectively.

    • Seek to attain the highest possible number of results within your budget constraints.
    • Do not have a specific target cost per action (CPA) in mind.
  • Highest value
    When employing the highest value bid strategy, Meta’s goal is to exhaust your budget while bidding for purchases with the highest potential values.
    For instance, a consultancy firm offering specialized coaching services might utilize this strategy to promote premium coaching packages, aiming to maximize the value of conversions, thereby enhancing the return on ad spend (ROAS).
    This strategy is suitable if you

    • Wish to optimize for the value of conversions rather than solely focusing on increasing the number of conversions. Intend to spend your entire budget while prioritizing higher-value purchases.
  • Cost per result goal
    In this strategy, Meta aims to achieve your specific goal amount on average throughout the campaign, dynamically adjusting bids to maximize results. This means that the average cost per result may sometimes exceed the set amount. For instance, a coaching company aiming for consultation bookings may set their cost amount to a target cost per booking that ensures profitability on average.
    This strategy is suitable if you

    • Prefer to maintain your cost per action (CPA) around a specified average, regardless of market fluctuations.
  • ROAS Goal
    When you set a return on ad spend (ROAS) goal, Meta strives to achieve it throughout your campaign, adjusting bids dynamically to maximize results. This bid strategy requires optimizing your ad set for purchase value. For instance, if you want your $100 budget to yield at least $110 in purchases (or a 110% return), you’d set your ROAS control at 1.100.
    This strategy is ideal if you

    • Aim to maintain your return on ad spend around an average amount throughout your campaign.Require more control over the purchase value generated from ads compared to the highest value bid strategy.
  • Bid cap
    When you opt for bid cap, Meta sets a maximum bid across auctions instead of bidding dynamically based on your cost or value objectives. This strategy suits advertisers who have a good grasp of predicted conversion rates and can calculate the right bid. For example: A career coaching company has analyzed its client data and found that each successful career transition leads to an average lifetime value of $5,000. With this knowledge, they decide to cap their bid at $500, ensuring they don’t overspend while still acquiring valuable clients.
    This strategy is ideal if you
    • Rely on internal bidding or lifetime value models.
    • Prefer to control the maximum bid Facebook can place in auctions.

A image show the bid strategy in Facebook ads manager.

2. How I implement effective bidding

Let’s dive into how I approach bid strategies in my campaigns. When I kick off a new campaign, I usually begin with “Highest Volume or Value” bidding. I gradually increase the budget until I notice the CPA becoming too high. This gives me a sense of the campaign’s CPA. It’s important to factor in your profit margin when determining the CPA that works for you.

Once I’ve identified the optimal CPA, I clone the campaign and run it with “Cost Per Result Goal” bidding with the desired CPA in mind. I run the same ad creatives concurrently on both “Highest Volume or Value” and “Cost Per Result Goal” bidding strategies. This allows me to compare and fine-tune the performance effectively.

Why do I run two ad campaigns? I stick with the proven one and add a second with Cost Per Result Goal bidding to boost lead opportunities. It’s all about balancing ACV and CPA. If ACV exceeds CPA, you’re gaining clients without spending a penny.

Throughout the campaign, I closely monitor performance metrics and make adjustments to the budget or creatives as needed, usually in increments of $5-$10. If I’m approaching an important event or aiming for better results, I might increase the spending slightly. The key is to consistently track metrics and adapt the strategy accordingly.

IV. Utilize Retargeting

Retargeting ads are targeted advertisements shown to users who have previously interacted with you. They serve as reminders to potential customers, encouraging them to revisit the site or complete a desired action. Retargeting is crucial as it keeps your brand top-of-mind, re-engages interested users, and increases the likelihood of conversions by reaching audiences already familiar with your offerings.

1. How I Work with Retargeting Ads

Firstly, make sure your custom audience setup is complete. Refer to the previous sections for guidance. Once everything’s set up correctly, I segment my retargeting audience into three tiers.

A image show how to set up custom audiences in Facebook ads manager.

  • Tier 1
    These are the folks who’ve engaged with my website or pages. They’re like a medium-rare steak. They need a bit more attention, so I show them ads offering a free download lead magnet with an OTO (One Time Offer). This helps me collect their email addresses to add them to my list.A image show example ad for tier 1 audiences.
  • Tier 2
    These are the ones who’ve downloaded the lead magnet but haven’t purchased the OTO yet. They’re like a medium-cooked steak because they’ve consumed some of my content. For them, I run ads promoting something like the latest event, but I do it gently. I use sophisticated approaches to guide them to click the call-to-action button. I don’t assume they know everything, so I avoid being too pushy.

A image show example ad for tier 2 audiences.

  • Tier 3
    These folks are either my customers or have visited the sales page for the product I’m advertising. They’re like a medium-well steak, almost ready. The ads I show them include testimonials, event posters, or anything that can give them that final push to make a purchase.

A image show example ad for tier 3 audiences.

2. Some More Retargeting Campaigns

By segmenting your audience and delivering relevant messages, you can effectively re-engage users and drive them towards conversion.

  • Abandoned Cart Retargeting
    A SEO coach notices that many users add a digital course package to their cart but abandon it before completing the purchase. They retarget these users with ads reminding them of the benefits of the coaching package and offering a limited-time discount to encourage them to complete the purchase.
  • Email List Retargeting
    A service provider wants to reach users who are already subscribed to their email list but haven’t taken any further action. They retarget these users with ads offering exclusive content or early access to new services to incentivize them to engage further.
  • Cross-Sell or Upsell Retargeting
    A coach identifies users who have purchased one coaching package and retargets them with ads promoting complementary or advanced coaching programs.
  • Geo Targeted Retargeting
    A service-based business targets users who have visited their physical location but haven’t made a purchase. They retarget these users with ads offering a special discount for in-store visits or online purchases.

V. Conclusion

Remember this: reclaiming your ROAS and propelling your business to new heights is within reach. We’ve explored solid strategies to refine audience targeting, optimize ad creative, implement bid strategies, and utilize retargeting.

Now, it’s time to take action. Join us at the Endless Leads Live event, where you’ll learn more on how to gather more high-ticket leads from marketing.

Attendees will have the opportunity to ask questions directly, ensuring clarity and understanding as you implement these strategies in your own business.

Are you ready to unlock the full potential of your Facebook ads?

Let’s dive in together and pave the way for unprecedented success.

The Ultimate Playbook for Supercharging your Sales Funnel Performance and Conversion Rates

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Alright, let’s cut to the chase! Every lead hitting your website or sales funnel? That’s potential cash waiting to roll in. We’re not just talking clicks; we’re talking cold, hard revenue! And in today’s cutthroat market, you can’t afford to let a single lead slip through the cracks.

From sleek designs to killer follow-ups, we’re on a mission to turn every click into a cha-ching! No fluff, just practical, hands-on strategies to turbocharge your site and funnel. So strap in tight, because we’re diving deep into the art of conversion.

Table of Contents

  1. Enhancing Page Design
  2. Crafting Compelling Copy
  3. Creating Compelling Calls to Action (CTAs)
  4. Form Optimization
  5. Building Trust
  6. Optimizing for Mobile ExperienceL
  7. Optimizing Page Load Speed
  8. Implementing A/B Testing
  9. Effective Follow-Up Strategies
  10. Conclusion

Ready to turn those leads into cold, hard cash? Let’s make it happen!

  1. Enhancing Page Design

In the digital realm, first impressions matter. A visually appealing and user-friendly design sets the stage for a positive user experience and can significantly impact conversion rates.

  • Optimize Layout, Colors, and Typography

A good layout guides users smoothly through your content. Keep it clean and functional, with plenty of whitespace for easy reading. Colors matter too; pick ones that match your brand vibe and evoke the right emotions.

Example from Scale Secrets from Emprendedores Alfa. It keeps the lines in the middle and leaves the area for the left and right side. It is to read and feel unpacked on the page.

Scale Secrets from Emprendedores Alfa. It keeps the lines in the middle and leaves the area for the left and right side. It is to read and feel unpacked on the page.

When it comes to typography, keep it simple yet stylish. Go for easy-to-read fonts that match your brand’s personality. Think clean sans-serif for body text and bold serif for headlines. It’s all about keeping things clear, consistent, and engaging.

Example from Leadpages. The page is done with sans-serif. It makes the page easy to read and stylish.

Leadpages. The page is done with sans-serif. It makes the page easy to read and stylish.

  • Incorporate Visual Hierarchy

By strategically arranging elements on the page based on their importance, you can direct users’ focus towards key messages, calls-to-action, and essential information. For example, using larger font sizes, bold text, or vibrant colors for headlines and titles can make them stand out and capture users’ attention first. Subheadings and bullet points can then provide additional context and support, guiding users through the content hierarchy.

Example from Ultimate Resignation Success Strategy from Retirement Wellness SA. There is a clear hierarchy on headline, subheadings. Also parallel bullets with testimonials, which make readers get the required information easily.

Ultimate Resignation Success Strategy from Retirement Wellness SA. There is a clear hierarchy on headline, subheadings. Also parallel bullets with testimonials, which make readers get the required information easily.

  • Utilize Visual Storytelling

Visuals are where it’s at. Don’t just dump text on your page; bring it to life with images, videos, and graphics. Show, don’t just tell. Imagine a video testimonial from a happy client on your coaching site, sharing their success story. Boom! Instant connection.

Example from Sew Ready - Your Ultimate Beginner’s Checklist For a Confident Start from Sew Smart. It shows parts of the lead magnet on the page directly. It brings readers clarity and sets the right expectation on the content.

Sew Ready – Your Ultimate Beginner’s Checklist For a Confident Start from Sew Smart. It shows parts of the lead magnet on the page directly. It brings readers clarity and sets the right expectation on the content.

And don’t forget those handy infographics and diagrams to simplify the tough stuff. Visual storytelling is the secret sauce to grab attention and make your message stick.

Example from Taopatch. It incorporates a visual diagram and a video presentation to elucidate the product's functionality and its potential benefits. These visual aids simplify complex medical information so readers comprehend the product immediately.

 

Taopatch. It incorporates a visual diagram and a video presentation to elucidate the product’s functionality and its potential benefits. These visual aids simplify complex medical information so readers comprehend the product immediately.

  1. Crafting Compelling Copy

Compelling copy is the backbone of persuasive marketing. By crafting headlines, subheadings, and body copy that resonate with your audience, you can effectively communicate your value proposition and drive action.

  • Write Persuasive Headlines and Subheadings

Your headline needs to pack a punch, selling your product’s value in a nutshell. Use strong words to hook them and keep them curious. Subheadings break things down, making info easy to chew on. Sprinkle in persuasive language, highlighting the goodies, and guide them through.

Think “Transform Your Business with Proven Strategies” for your headline, with subheads like “Unlock Growth Opportunities” and “Maximize ROI.” That’s how you reel them in and keep them hooked!

  • Highlight Benefits and Address Pain Points

Show them what you got. Highlight the benefits loud and clear, so they know what’s in it for them. Find out what’s bugging them and offer your solution on a silver platter. Use words that hit them in the feels, painting a picture of the awesome results they’ll get.

Selling a productivity tool? Tell them how it’ll make their life easier, cutting out the stress and boosting efficiency. Or selling online fitness coach programs? Show them you provide personalized workouts, keep them motivated , no matter how busy their schedule.

  • Ensure Clarity and Concision

Alright, let’s get real. Keep it snappy. No need for fancy talk or repeats. Break it down, use lists, and stay on track. Cut the jargon, keep it simple, and stick to the good stuff.

Let’s say you’re promoting a new meal delivery service. Instead of saying: “Our innovative meal delivery service offers a wide selection of chef-curated, gourmet meals made with high-quality ingredients, conveniently delivered to your doorstep.”

You could ensure clarity and concision by saying: “Get gourmet meals delivered to your door. Easy, delicious, and hassle-free.”

  1. Creating Compelling Calls to Action (CTAs)

A compelling call to action (CTA) is essential for guiding users towards the desired action, whether it’s making a purchase, signing up for a newsletter, or booking a consultation.

  • Characteristics of Effective CTAs

Your CTA needs to be crystal clear and to the point. Use language that gets them moving, whether it’s signing up, downloading, or buying. Make those CTAs pop with bold colors and strategic placement. Test, tweak, and track to find the sweet spot that gets those clicks rolling in!

Example from Bartell Music Academy. It shows the yellow call to action pop up from the black background.

Bartell Music Academy

Example from Georgina Chang. It shows the call to action bottom states Give me free tips.

Georgina Chang

Example from Ruble Chandy. It shows a call to action button with "increase your productivity".

Ruble Chandy

  • Placement Strategies

CTAs should be strategically positioned throughout your website or sales funnel to ensure they are easily accessible and visible to users at key decision points. Consider placing CTAs prominently above the fold, where they are immediately visible without the need for scrolling.

It's an illustration shows what "above the fold" is and what "below the fold" is

Also, incorporate CTAs strategically within your content, aligning them with relevant information and compelling users to take action based on the context of the content they are reading.

  • Utilizing Persuasive Language and Urgency

Use compelling verbs and adjectives that encourage users to click on the CTA and engage further with your content or offering such as “Unlock exclusive access”, “Discover your potential”, “Transform your life today”, “Claim your spot”.

And don’t forget urgency—make them feel like they gotta act now to snag that deal. “Limited Time Offer”, or “Act Now” – make them feel the FOMO and watch them jump into action!

  1. Form Optimization

Forms are a critical component of many sales funnel pages, allowing users to submit their information and take the next step towards conversion. However, long or complicated forms can deter users and lead to high abandonment rates.

  • Streamline Form Fields

Less fields mean less hassle for users. Start by evaluating each form field and considering whether it’s necessary for achieving your conversion goals. Cut out the fluff and keep only what’s necessary.

Furthermore, use smart form design techniques such as progressive disclosure, where additional fields are revealed based on user input, to break longer forms into smaller, more manageable sections.

Example from Vallaris Private Limited. The form fields are easy to understand with icons. It splits questions into a single card without overwhelming users by multiple questions on one page; it also shows the progress bar on the bottom, which lets users know how many questions to answer.

Vallaris Private Limited. The form fields are easy to understand with icons. It splits questions into a single card without overwhelming users by multiple questions on one page; it also shows the progress bar on the bottom, which lets users know how many questions to answer.

  • Implement Inline Validation

Inline validation gives users instant feedback on any errors as they fill out the form, so they can fix them on the spot. No more frustration, just smooth sailing to submission. Picture this: You enter an invalid email, bam! Instant messages pop up, guiding you to fix it. Throw in some color changes or icons for extra clarity, and you’ve got yourself a user-friendly form that’s a breeze to fill out!

Example from SMART Challenge from Dan Lok Education. The validation shows the visitor input the wrong email format. This prevents further email failed delivery.

SMART Challenge from Dan Lok Education. The validation shows the visitor input the wrong email format. This prevents further email failed delivery.

  • Use Auto-Fill and Pre-Filled Data

Auto-fill and pre-filled data are absolute lifesavers for form completion. They do the heavy lifting for users by filling in info based on past interactions. Think names, emails, addresses—all done in a snap! Less typing, fewer errors, and a smoother ride for users. It’s like magic, making forms a breeze to fill out!

  1. Building Trust

Trust is a fundamental element of any successful sales funnel. Users are more likely to convert if they trust your brand and believe in the value of your offering.

  • Incorporate Trust Signals:

You’ve got options: customer testimonials, reviews, trust badges, endorsements and certifications. Authentic testimonials from happy customers? Gold! They back up your claims and show your stuff works. Positive reviews from trusted sources? Even better! And those trust badges? They scream “safe and secure.” Plus, flaunting industry certifications? That’s your commitment to top-notch quality and professionalism.

Example from I Love You and I Love Me MORE Masterclass from Sylvia Silvers. It uses customer reviews as proof of trust.

I Love You and I Love Me MORE Masterclass from Sylvia Silvers. It uses customer reviews as proof of trust.

Example from Markus Dunk. It proves that videos are one of the most powerful testimonials.

Markus Dunk. Videos are one of the most powerful testimonials.

Example from Power Health and Performance. It shows how test case shows how you can help clients directly.

Power Health and Performance. Test case shows how you can help clients directly.

Example from SMART Challenge from Dan Lok Education. It demonstrate how endorsements from big brands are helpful.

MART Challenge from Dan Lok Education. Endorsements from big brands are helpful.

  • Effectively Displaying Trust Signals

First up, scatter them strategically across your page—near those action points like CTAs or contact forms. Make them stand out, bold and clear. Next, give testimonials a prime spot. Dedicate a section with visuals—pics, vids, you name it.

Lastly, don’t stop at the landing page! Keep those trust vibes flowing through the whole funnel—confirmations, thank-yous, even follow-up emails.

Example from More Sales Challenge from Dan Lok Education. It displays one client’s review aside from a paragraph and above the call to action button as an illustration.

 

More Sales Challenge from Dan Lok Education. It displays one client’s review aside from a paragraph and above the call to action button as an illustration.

  1. Optimizing for Mobile Experience

With the increasing prevalence of mobile devices, it’s essential to ensure that your sales funnel pages are optimized for mobile experience. Here’s how to make sure your pages are mobile-friendly:

  • Implementing Responsive Design

Your sales funnel needs to be responsive, period. That means it looks good and works well whether your users are on a phone, tablet, or desktop. No squinting, no pinching—just smooth sailing on any device. When your site looks great and functions flawlessly, no matter where your users are, you’re golden! Here is one blog that guides you responsive web designs.

 

  • Prioritize Content

Think small, but mighty. On those tiny screens, less is more. Keep it short and sweet—cut the fluff and get straight to the point. Use collapsible menus or accordions to tuck away extra info, so it’s there when users need it, but not cluttering up the screen. Maximize that limited space while still giving users what they need, when they need it!

  • Ensuring Touch-Friendly Elements

Let’s talk about touch-friendly design! Think big and spacious—your buttons and menus need room to breathe. Make them big enough to tap with ease and give them some elbow room so users don’t accidentally hit the wrong thing. It’s all about making the experience smooth and intuitive, so your users can navigate with a flick of the finger!

 

  1. Optimizing Page Load Speed

In today’s fast-paced digital world, users expect instant gratification. A slow-loading page can frustrate users and drive them away, resulting in lost opportunities for conversion.

  • Techniques for Improvement

Image optimization is key—compress those pics and use responsive formats to keep things zippy. Trim the fat from your CSS and JavaScript files—less code means faster load times.

And hey, don’t forget about browser caching! Storing stuff locally cuts down on server time, so your pages load in a flash. Check this blog for more details on improving your page speed.

  • Importance of Testing and Monitoring

Regularly test and monitor your page load speed using tools like Google PageSpeed Insights or GTmetrix. Identify areas for improvement and implement changes to optimize load speed continually.

  1. Implementing A/B Testing

A/B testing, also known as split testing, is a powerful method for optimizing your sales funnel pages by comparing different variations to determine which performs best. Here are some tips to implement A/B testing.

  • Start with Clear Objectives

Get focused! A/B testing is all about hitting those targets dead-on. Define your goals upfront—whether it’s boosting Conversion Rate, Click-Through Rate, or Average Order Value. When your testing is laser-focused, you’ll get insights that pack a punch and results you can actually use.

  • Test One Variable at a Time

Testing one thing at a time is key. By isolating each element, you can see exactly how it affects your conversion rates or user behavior. No confusion, no mixed signals—just clear results that tell you what’s working and what’s not. It’s all about keeping it simple and focused for maximum impact!.

  • Use Large Enough Sample Sizes

Ensure that your A/B tests have statistically significant sample sizes to draw meaningful conclusions. Testing with too small a sample size can lead to unreliable results and inconclusive findings. Use statistical significance calculators to determine the necessary sample size for your experiments. These 2 tools help you calculate what sample size you need: Optimizely, Unbounce.

  1. Effective Follow-Up Strategies

Effective follow-up strategies are essential for nurturing leads and guiding them through the sales funnel towards conversion. Here are some strategies to implement effective follow-up communication:

  • Implementing Automated Email Sequences

Picture this: a lead signs up after clicking your ad. Bam! You hit them with a welcome email—friendly, inviting, and packed with value. Then, keep the momentum going with a series of follow-up emails—maybe a helpful tips newsletter or a special offer tailored just for them. It’s all about staying engaged and guiding those leads toward conversion, one email at a time.

  • Leveraging Retargeting Ads

You’ve got those leads who’ve checked out your site or clicked your ads but haven’t hit that “buy” button yet. No worries! Set up those retargeting campaigns and get back in front of them, wherever they roam on the web.

Think personalized ads popping up on Facebook or Google, reminding them of what they’re missing out on. It’s like giving them a gentle nudge back toward your awesome offers. Ready to reel ’em back in? Let’s make those retargeting campaigns shine!

 

  1. Conclusion

Let’s wrap it up! Optimizing your sales funnel pages means covering every angle.

  • Optimizing your page design
  • Crafting compelling copy
  • Utilizing powerful Call To Actions
  • Making an easier form
  • Collecting visitors’ trust
  • Enhancing mobile experience
  • Improving page load speed
  • Applying A/B testing
  • Ensuring follow-up strategically

Important note:

No matter how good your sales funnel is, your revenue will not increase unless you have a solid offer.

If you are not sure how to create an irresistible High Ticket offer, download the FREE “High Ticket Offer Formula™”.

What is it about?

This will show you the 7 elements to consider when creating irresistible High Ticket offers. Take the opportunity so you can optimize not just your Sales Funnel but your core Offer as well.

Want My Legendary Live Event Strategies?

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If you’ve been following me for a while, you’ll know that I love doing live events…

And after many years of doing very few live events…

In 2022 I did a tonne of live events, and this while I’ve scaled back a little this year, live/virutal events are still something we do every few months.

Events are a great way for you to give your audience HUGE value upfront.

And of course they’re also a way to upsell them on your high ticket offers.

So, in this week’s newsletter you’ll discover how to fill your event, how to keep attendees engaged, and different strategies to make big money with live events.

Let’s get started.

How To Fill An Event

As a coach, consultant, trainer, or expert, whether it’s small, medium, or large…

You most likely have some type of audience.

And if you don’t, now is a great time to start building one.

Because your content builds a relationship with new prospects on autopilot, and it’s scalable.

Now, even if you don’t have a big audience right now, you can still fill your event with paid ads.

And in this video you’ll discover game changing strategies to fill your event even if you don’t have a referral network or loyal following.

By the time you’ve finished watching, you’ll also have a tested and proven strategy to ensure your attendees actually show up >>

How To Increase Attendee Participation

Getting people to the event is your first hurdle, but getting them to participate is another hurdle altogether.

Have you ever been to a boring event?

I have, and if you’re not engaging your audience, you’re leaving A LOT of money on the table.

People will never invest more money with someone who does excite, motivate, and engage them.

In our business, we’ve generated tens of millions of dollars with events, and over the years we learned a thing or two about audience engagement.

So, here are 3 ways you can increase audience engagement.

  • Demand engagement
  • Reward engagement
  • Maintain high energy levels

In this video you’ll discover exactly how I do this in my events, AND you’ll also get 2 more ways to improve engagement >>

I highly recommend you watch the video if you want to improve engagement at your live events and improve your revenue.

How To Ensure Your Audience Gets The Most Out Of Your Event

A lot of people go to events and learn nothing.

Sure they may take a lot of notes, but they usually end up on the shelf and they gain nothing from the event.

So, in order for your audience to walk away from your event with a truly valuable experience, I recommend you instruct them to do 3 things.

On the first day, before you begin teaching, let them know they should be wearing 2 hats.

  1. A “connector’s” hat: Events are a great place to expand their network.
    They should have an idea of the type of people they want to meet they can add value to and help them move their business forward.
  2. A “student’s” hat: Rather than coming to the event and taking notes on everything, they should be looking for 10-12 big ideas they can implement.
    They should aim to implement those ideas within 30 days.
    If they don’t implement them in the next month, they never will.

If you let them know how to get the most out of your event, they are more likely to invest in your high ticket programs after getting so much value.

How To Make BIG Money With Live Events

As you’ve already seen…

There’s a lot that goes into the event.

In the first video I linked above, there were some strategies to ensure people actually turn up.

But I’d like to take that a step further in a moment.

Because at every event, there is a Before, During, and After.

Your focus before the event is to get as many people to turn up as possible.

You’d be surprised, even though people pay for something, they may not attend.

And if the event is free, there’s an even bigger chance they won’t attend.

So, I shot you a very powerful video where you’ll discover >>

  • Why the quality of your attendees is far more important than the quantity…
  • The BIGGEST mistake most people make when running events…
  • How to create anticipation in your attendees to make sure they attend…
  • What to do before, during, and after the event…
  • How to repurpose your event to make more money…
  • And much, much more!

I’ve packed a lot into this quick 10 minute video, and this is the exact formula I’ve followed to generate tens of millions of dollars with events, so get ready to take notes.

A Follow Up Strategy So Powerful It’s Not Even Fair

I’ve got one more video for you my friend.

What you’re about to see was shot at an exclusive and private dinner with my Dragon 100™ clients.

It’s rare that I share something from the VIP vault…

But I feel this event strategy has the power to greatly increase the number of clients you sign at your events.

And the best part?

It gives you one action to take before and after the event, but it’s so simple, and that’s why it works.

So click here for an unfair advantage over your competitors >>

In closing…

Done right, events can bring you a huge ROI in your business.

I hope this newsletter has given you enough strategies to take away and implement in your next event.

Until next time… go high ticket,

Dan Lok

P.S. – If you want to see how to run a successful live virtual event where I practice what I preach and implement what you’ve learned in this newsletter…

Then you won’t want to miss our next S.M.A.R.T. Challenge™.

At the challenge, not only will you experience everything I’ve mentioned above…

You’ll also get the exact business playbook I’ve used to generate over $100 million in just a few short years.

The strategies you’ll discover will help you SCALE, SYSTEMISE, and SUSTAIN your business through any economic climate.

So, don’t wait another second…

Click here to get the full scoop and secure your seat to the S.M.A.R.T. Challenge™ >> 

Get The Best Out Of Your Sales Team

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Your closers are part of one of the most important teams in your business…

And over the years, I’ve built sales teams of all sizes, including up to well over 100 closers.

I’ve tested many ways to train them, incentivize them, and help them perform to their fullest potential.

Some things worked, while others didn’t.

So, in this week’s newsletter, you’ll get a comprehensive list of things you must do if you want a closing team of top producers.

So, grab a notepad and a pen and get ready to make good notes…

Because this newsletter will be one of the most important things you read if you want to take your business to brand-new heights.

Why Your Sales Team Must Be Coachable

Before you hire any new closer, you must first find out if they’re coachable.

The way to do this is to roleplay with them and give them feedback.

If they take the feedback well and without ego, you know they’re coachable.

Next, you want to roleplay again to see if they can take the feedback onboard.

This will show they can implement feedback fast, which is exactly the type of person you need on your team.

Why Your Prospects Are More Important Than Your Product

The old way of sales is DEAD my friend.

Gone are the days of talking AT your prospect and selling the features and benefits.

In today’s market, your prospect is most important, and in fact, they always were, it’s just taken people this long to figure it out.

Every closer on your team must know your prospects inside out.

They must know their pains, problems, roadblocks, goals, fears, aspirations, etc.

Outside of that, they must have the product knowledge to know if you have a good solution to their problem.

You’d be surprised how many business owners don’t have a customer avatar document.

You should already have a detailed customer avatar to give new team members, especially in sales and marketing.

If you want to know how to create a customer avatar in 5 simple steps then click here >>

How To Set Them Up For Success

A lot of business owners don’t have a solid onboarding process.

They don’t set expectations well enough (more on this later)…

And they don’t give them the right materials to study.

So, here are 5 things that will help onboard your closers:

  1. Show them how to set sales appointments

    This should be done live either by you, your sales manager, or your top closer or appointment setter.
  2. Show them how to close deals live

    This should be done live either by you, your sales manager, or your top closer.
  3. Give them successful sales calls to listen to

    Find the best sales calls you can, and give them to your closers to listen to on repeat.
  4. Get them to roleplay amongst themselves daily

    If you have a physical office, you can create an objection game, so whenever your closers walk past each other they throw objections at each other and have to answer them on the spot.

    If you have a virtual office, then get them to set aside some time each morning for roleplay.
  5. Create an environment with tools that can train them when you can’t

    Recommend the best sales books… give them access to sales trainings you’ve invested in.

    Set up their environment in such a way that you’re not needed every time you want to train them.

    As the CEO you don’t have time to train your team every day, like I’m doing here >>

But you should train them periodically or find someone capable to do it.

What Expectations Should You Set Before They Start Work?

You’ll want to let them know their KPIs based on performance and behaviors.

Performance KPIs will obviously be the number of sales, but behavioral KPIs will be things like…

Clearing their pipeline every day… never being late for sales meetings… following up with prospects every 90 days or so, etc.

If they dip below their KPIs for two weeks or don’t meet your minimum expectations, they’ll need more training.

Hold them accountable to your expectations and their KPIs by firing them if they’re not met after a further two weeks.

Make sure you fire the bottom 25% of your closing team every quarter as well.

This keeps everyone on their toes and ensures you have the best producers on your team.

Why You Must Have a Leaderboard

You’ll want to set up two leaderboards either in your office or somewhere your team can see them daily in a virtual setting.

Have one leaderboard for sales results, and another for the daily tasks/behaviors I mentioned earlier.

Because it’s the behaviors that create results for them and your company at the end of the day.

Why You Must Create A Solid Compensation Plan

Your compensation plan must incentivize your closers.

We use a combination of a few different commission structures, depending on price point and profit margin.

Every new closer starts in my company as a setter, regardless of their experience.

They earn a percentage of sales for appointments they set.

After they’ve proven themselves by getting a predetermined number of sales, they then move to a closing position.

In this position, they get a base plus commissions, and we also work out a bonus structure that works similarly to the tiered commission structure.

Providing your closers with a base removes neediness and desperation.

The last thing I want in my team is a closer who is in survival mode because this causes most people to act on emotions and irrationally in a sales conversation.

How To Reward Your Top Closers

If you like, you can also reward your top closers with gifts.

The size of the gift isn’t as important as the fact that you’re giving them something for performing well.

It can be as small as a $20-$50 gift card.

Then, as you grow you can increase the size of the gifts.

In closing…

Training your closers, setting expectations, and rewarding them for good performance is key to building a successful closing team.

Until next time… go high ticket,

Dan Lok

P.S. – If you want to take your business to new heights this year, I invite you to attend the next S.M.A.R.T. Challenge™.

It’s our 3-day business immersive where you’ll get a sneak peek into my $100 million business playbook.

Get to surround yourself with hundreds of high-level coaches, consultants, and experts.

Get the proven strategies to SCALE, SYSTEMIZE, and SUSTAIN your business in ANY economic climate and much more.

Click here for the full scoop and to save your seat while you still can >>

We go live soon, so time is running out.

Get Your Client Results 10x Faster?

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Throughout my coaching career, I’ve tried many things to help my clients get results…

And what I’ve realized through all the trial and error is this.

It doesn’t matter how good you are…

It doesn’t matter how much experience you have…

And it doesn’t even matter how eager you are or how much you care.

You’ll never help 100% of your clients get results.

So what stops clients from getting results?

Their mindset.

You may have heard Tony Robbins’ famous quote…

“Success is 80% mindset, 20% mechanics.”

And it’s very true.

So in this week’s newsletter, I’ll discuss 7 reasons why your clients may sabotage their own success, and the one solution to fix it all.

But before getting into the main part of the newsletter, let me give you a perfect example of why mindset is so important.

As you know, I teach High Ticket Closing.

The mechanics of high ticket closing include asking the right questions, playing with prospect resistance, asking for money, talking to strangers, and many other things.

But if the mentee is uncomfortable with any of the mechanics, or they have a negative association with sales,  then they’ll never succeed.

So, let’s dive into the…

7 Reasons Why Your Clients May Not Succeed

  1. They can’t do it

    This one is obvious, and it’s the reason why they’ve hired you.

    If they could do it, they would have already done it.
  2. They won’t do it

    Here they have the ability but they simply won’t do the work to achieve the success they desire.
  3. They don’t believe they can do it

    Here they have the ability, but for whatever reason, they don’t believe they can succeed.

    This often causes people not to even try to change their life and get better results.
  4. They don’t believe it will work

    No matter how many clients you have that have succeeded with your program…

    There will always be people who don’t believe it will work.

    What they’re really saying is similar to the 3rd reason.

    They don’t believe it will work for them.

    Sure, they can see other people succeeding.

    But they don’t think it will work for them, and this becomes a self-fulfilling prophecy.

    Meaning, if they don’t think it will work, it won’t work.
  5. They don’t stick with it long enough

    Success happens at different times for different people.

    Some reach their goals in a month or two, some may take years.

    So, what determines how fast someone will succeed?

    The truth is, there are many variables, which include but are not limited to…

    The hours they put in… how consistent they are… how fast they learn, and countless others.
  6. They play the victim.

    In my High Ticket Closer Certification™ (HTC), we have a rule.

    That rule is “No excuses, No opinions, and No victims.”

    Victims always look for someone else to blame.

    They b*tch, moan, and whine.

    And if you accidentally bring on clients like these, not only will they be a client from hell, but they’ll never succeed.
    They haven’t taken full responsibility for their life, and until they do, they’ll continue to stay stuck.
  7. Their environment

    I always say, “Your environment is more powerful than your willpower.”

    If your clients are constantly hanging out with negative friends and family, they’ll be influenced by them and this will cause internal friction in their mind.

    They may be swayed not to work on themselves, their business, and their goals.

    And if they don’t move house or distance themselves, this will adversely affect their future success.

How To Help Them Overcome The 7 Roadblocks To Success

So, with all these roadblocks and obstacles getting in their way, how do you give your clients the best chance of success?

The answer is of course, to include a mindset portion in your program.

Your mindset modules should be designed in such a way to remove old beliefs that could halt their success…

And replace them with more empowering beliefs and different ways of thinking that will help them succeed.

For example: In HTC™, I teach the psychology of high ticket sales… why sales is a noble profession and not something to be ashamed of… why people look down on salespeople… why they can’t afford to be afraid of speaking to strangers, and so much more.

If you haven’t already, brainstorm the different ways of thinking someone must have to succeed in your program, and all the different mental roadblocks someone may experience when working with you.

You may like to interview past or current clients, because they may tell you things you’ll likely never think of.

Remember, all you can do is to help the clients who want to help themselves.

And if they join your program, and don’t think they need mindset training, then those are the people who need it the most, and usually they’re the ones you can’t help.

In closing…

If you want to give your clients the best chance of success, don’t skip the mindset training.

When you include mindset, you should see your success rate increase, and if you only let in highly motivated people, this will also improve your client success rate.

Until next time… go high ticket,

Dan Lok

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