Want a daily dose of digital marketing motivation? Join over 13,037 subscribers here 👇
|
Yesterday, I shared my favorite method for selling pretty much anything. Instead of going directly for the sale, I create a "no-brainer" offer that solves a small problem... ...then sell the rest of the solution. I call these Bankshot Offers, and I've used them to sell live event tickets, entry-level memberships, courses, cohorts, and high-ticket coaching. But not all Bankshot Offers are created equal. The key is finding a simple rhythm you can stick to that doesn't burn out your list (or yourself). For example, I used to sell high-ticket coaching via a live, in-person event. Every time I hosted an event, I'd spend ~ $30K on the hotel, food, vendors, and marketing. Luckily, I made it back in coaching enrollments, but the whole thing was extremely stressful. Now, imagine instead of doing a live event 1-2 times per year, I did it monthly. Wouldn't work, right? Not only would I be financially and emotionally drained... ...my entire audience would run for the exits b/c I'm pushing event tickets every day. There's an easier way. So, let's talk about the 3 levels of Bankshot Offers you can make to your audience, and you can choose which one to try next. Level 1 Bankshot Offers The easiest and most useful type of Bankshot Offer to execute is a single-session workshop. To decide the topic, ask yourself:
Make a list of things that come to mind. Then, pick something off that list and teach it in a workshop. If you're just getting started, make it free. More people will sign up, and you'll grow your list. If you have some momentum, charge a "no-brainer" price for it (something they can easily say yes to without a payment plan, third mortgage, or borrowing money from a friend). Then, when you're done with the workshop, ask them if they'd like to continue working with you in your main offer. Level 2 Bankshot Offers A slightly more complicated (but potentially much more scalable) Bankshot Offer is a multi-day workshop. Think: challenges, bootcamps, coaching weeks, etc. These are great when you have a more complex problem to solve and need a few days to unpack the solution. Same as Level 1; if you're just getting started, make it free. Removing the payment friction will get more people interested. If you have momentum, charge a small fee (even $10 or $20 will suffice). Then, invite participants to continue along with you in your main offer. Level 3 Bankshot Offers This is not for the faint of heart... These require much more courage, logistics, energy, time, connections, and runway. Level 3 includes Summits and Live Events (in-person or virtual). I just hosted an Email Summit and added about 3,600 people to my list. Registration was free, or you could pay to upgrade to the All-Access Pass. It was a lot of work. Hundreds of hours. I will do it again (it was my first one) and have a mountain of notes on how to make it better. But, proceed with caution. Where to start? For most of us, we should do a Level 1 Bankshot Offer once a month. They're easy to set up, easy to host, and easy to sell. As you grow, host a multi-day event. Or, go nuts and host a summit or live event. But 90% of the time, I'm running the "Level 1 Bankshot Workshop" 1x a month. And it's the flywheel that powers my 1-person lean business. Want some help? I have a fun idea. I've hosted dozens of paid workshops and used them to fill up my coaching and memberships. There are a lot of moving parts (technical aspects, messaging, execution). So I'm looking for a handful of online creators who wanna host their first/next workshop with me. I'll give you the framework, SOP, swipe files, and AI assistants I've built to help you put it together. I'm looking for 5 people who want this installed in their business this month. If that's you, just reply with "INSTALL" in the subject line, and I'll get you the details of what I'm working on. Talk soon, ~ Cody "Bankshot" Burch P.S. Whenever you're ready, here's how I can help you build an email-based laidback business:
|
Want a daily dose of digital marketing motivation? Join over 13,037 subscribers here 👇