Summary
Highlights
Alexi introduces a fashion stylist, Ashley, who makes $300,000 a year with a 42% profit margin but is missing significant potential. He outlines three core problems in her business that need to be addressed.
Ashley's funnel has a poor conversion rate. She sends paid cold traffic to a form lacking a compelling value proposition, resulting in only 8 sales from 1,800 clicks. Alexi suggests adding a lead magnet and refining the funnel to make it easier for people to buy. He suggests a style assesment offer.
Alexi emphasizes the importance of a lead magnet. It should solve a narrow problem and reveal the next. He suggests a style assessment based on skin tone, body type, and lifestyle. Qualify leads, and don't give the lead magnet to everyone.
Installing a video sales letter (VSSL) can shorten sales cycles by pre-selling and filtering leads. Alexi recommends reviewing common objections, answering them in a video, and ensuring every prospect watches it before the call.
Qualifying prospects is essential to avoid wasting time. By including questions about budget, authority, need, and timing (BANT) in the intake form, one can identify serious buyers and focus efforts accordingly.
Headlines significantly impact how information is consumed. Alexi suggests rewriting the landing page headline to focus on the freebie, making it more appealing and relevant to the target audience. "Free lookbook to dress for your tone or skin tone using your existing closet."
Ashley's biggest untapped gold mine is her affiliate partnerships. Six partners found through basic Google searches account for a third of her revenue. He suggests building a list of relevant affiliates, sending outreach emails, and actively managing those relationships.
Expanding beyond matchmakers to include private social clubs, executive coaches, and divorce attorneys broadens the affiliate network. She gave the goal of doing 400 in 30 days. Activating and retaining affiliates is just as important.
Find your ideal affiliates, make them an offer, and qualify those affiliates. Figure out what to pay or compensate them. Give them stuff that will make them look good. The goal is to maintain integration so the affiliates are continuously sending customers.
Ashley's high-income clients are not reflected in her pricing model. Alexi recommends introducing a higher-tier continuity option to make the existing price seem reasonable by comparison. This also helps retain customers on the backend.
Introduce a price anchor to create a frame. Make the back-end continuity the default. If possible, push the price as high as it can go. To increase value, consider the Veblen good, which increases the value of a luxury item if the price is increased since luxury buyers want the best.
Review of areas to improve: Fix the funnel by qualifying leads, adding VSSL, adding lead magnet like a free lookbook. Next, double down on huge affiliates. Lastly, continue to push pricing by reestablishing a price anchor, making the backend default to increase Lifetime Value (LTV).