Transcript
Joe Troyer: Now what I want to walk through, and there’s going to be a little bit of crossover here, but that’s good. That’s important. What I want to walk through now is The 13 Rules Every Product Must Fit. So first and foremost, number one is in every single offer we need to be able to sell the offer to most, if not all of the market or markets that we decide to go after. Now, that’s a mouthful. That’s a big mouthful. So I gotta give Russell Brunson his second props in this final props for today’s webinar.
Joe Troyer: As I sat at Funnel Hacking Live, I took a picture and I posted it. I posted it on Twitter and I think on LinkedIn. There’s a picture of me doing a selfie with the entire crowd of 5,000 people behind me. And in that post I talked about my aha moment, was that none of my offers are big enough or wide enough. And what I really mean by that is that all of my offers to date, everything that I sell to an agency, and to be frank guys like it’s a little weird to talk about, but everything that I sell to you guys as well applies to a percentage of a percentage of a percentage of a percentage of the marketplace.
Joe Troyer: And I used to think that that was really cool until I was surrounded by 5,000 people at Russell Brunson’s event. And it all came sinking it, “Holy Shit, I’m missing the boat.” Derek says, “Where’s that pic?” On my LinkedIn, I believe. I know for sure and I believe it’s also, Derek, on my Twitter. Personal on both. So that has to change. Like I lead a big honking sexy foot in the door offer that delivers amazing value that everybody can see the value in and that I can sell to every Tom, Dick, and Harry in the marketplace.
Joe Troyer: And if I can do that, if I can just do that and I can build a great value ladder in terms of sales, it’s fucking game over. Give me a three if that was a good, good take away for you guys because this for me, I mean it seems fricking obvious but guys like literally, 10 years in the making, I’ve been shitting the bed so to speak. I had been letting this one just passed me by.
Joe Troyer: Rule number two is that each and every product has to stand on its own with the value that it drives. What I mean by that is if somebody kind of skips their way in the value ladder and they skip option number one and they buy option number two, like what I want to sell after they buy number one, if they go directly, they skip go, they pass product offering number one somehow and they buy number two, I want it to be on able to stand on its own with value.
Joe Troyer: I don’t want them to have to purchase one to make two worthwhile, which then makes three worthwhile. Each and every product needs to and must stand on its own with value. I see a lot of people packaging in and adding in. I got a bronze, I got a silver, I got a gold, but they’re packaging in and they’re adding in things that are … Can I just say it? … shit. They’re fluff. They don’t work, they don’t deliver results. They don’t make you look good and they definitely don’t stand on their own.
Joe Troyer: Rule number three of The 13 Rules Every Product Must Fit is that it’s gotta be capable of being communicated with a big marketing idea. This comes from my neighbor here, little southwest of me, Todd Brown. And if you guys don’t follow Todd Brown, I would highly suggest it. We’ve got a great interview with Todd Brown on the Digital Triggers site and on the YouTube channel. Just go back a ways to like the start of the channel. one of the first interviews that we did here at Digital Triggers was with Todd Brown. Todd is a brilliant, brilliant copywriter and angles guy.
Joe Troyer: The thought process is that each and every product that you sell has to be able to be communicated with what he calls this “Big marketing idea” that makes it, your product better than every other product in the marketplace, even if they’re similar. So there’s gotta be some type of unique mechanism in the product that you can sell with this big marketing idea so that you become the thought leader and you become the standard. You become the goto.
Joe Troyer: No, no, no, no, no. “Jamie’s product doesn’t have the whizbang. I’m going with Joe’s ’cause this has got the whizbang.” And that’s what this whole thing work. It’s that type of “Big marketing idea” that type of big hook or angle that you need to really stand out. And if I’m going to go try to sell a product and I’m going to go try to compete in the marketplace, I’m going to need that big marketing idea so that I can grab the prospect’s like I’m fishing. Fish in a barrel.
Joe Troyer: Think about that unique mechanism and think about how you can communicate that and what Todd calls his big marketing idea. So again, if you’re not familiar with that, a little studying that you guys can do. Go look up Todd Brown on the Digital Triggers site or on YouTube. Fantastic, fantastic resource there.
Joe Troyer: Number four. Each and every product should add on value or enhance the value of our other products. Everything should be like doing multiplication, not just addition if that makes sense. It’s not just going to help it a little bit, it’s going to help it a lot. Why? Why is that important guys? The value ladder. One plus one, I’m not interested in getting to two. How do I have one plus one equals five? That’s the context. How do we build a menu of offerings, an upgrade path of offerings of value ladder where each and every item that you sell enhances and multiplies the value of the other products? Because if you can do that, you can get your customers to upsell themselves.
Joe Troyer: Number five is to be capable of delivering your product at a minimum … I should be getting a big fat thank you for this one … 75% margin. Way too many of you guys are running super skinny profit margins. It’s no wonder you’re not taking home the money that you should be. “Joe, I got a business doing 30 grand a month.” Great, fantastic. You’re crushing it. “No, I’m taking home three grand a month.” What the hell?
Joe Troyer: It is a rule. It is a rule. Rule number five, that every product we can deliver at a minimum of a 75% margin. Why is this so important guys? This isn’t me being greedy, this is me being happy. This is my team being happy. This is us being able to fulfill and get amazing results, and this is me being able to scale. See, a lot of businesses get to 10, 15, 20 grand a month. Even like the example that I gave. 30 grand a month as an agency and then they just run into a wall and a lot of times the reason is that margin.
Joe Troyer: Number six. You guys will love this one too. For all you fulfillment experts out there and for all of you guys, sales guys that are selling custom off things, you’re going to hate me for this one. Each and every product that you sell should be deliverable in a single process that does not require customization for each client. Now, does that mean if you’re creating banners that you can’t change out the logo? No. What I really want you guys to get though is that the process doesn’t get customized for each client. The process is the process. If the process is we’re going to take the logo and apply it to the website, that’s fine. Your process can’t change.
Joe Troyer: If I know a lot of you guys are selling deals and you’re selling deals with a tweak here or a tweak there, you’re making exceptions here, you’re making exceptions there, folks, that doesn’t work at scale. When you’re bringing on 10, 15, 20 customers a week, or for some of you guys it would be in a month, and your fulfillment team, you have to communicate all these tweaks and changes with, and they have to communicate that to all your product managers, your fulfillment managers have to communicate it to everybody on the team. And then when they’re checking the work, it has to be communicated as well, you’re going to mess shit up and that shit is going to end up losing new customers.
Joe Troyer: So don’t think that you’re doing the customer a favor when you make an exception to changing your process, when you agree, when you let a customer talk you into changing your process, you are doing them a disservice, not a favor, because you’re going to shit the bed, your team’s gonna mess up, and it’s going to be your fricking fault. So when we do sales training, when I do sales training, we talk about selling with quality, and the goal of selling with quality is to ensure that one thing happens.
Joe Troyer: When you take a prospect from a prospect to a customer that they stick around once they buy and that they’re happy. One of the easiest and most sure-fire ways to screw that up into not sell with quality is to make exceptions to the process. “Yeah, no problem. I’ll include that too.” Or “Yeah. I know we don’t actually do that, but I’ll make it happen for you.” It’s going to piss off your customer. You’re going to lose them. What’s going to happen when you don’t sell with quality, you’re going to be onboarding people as fast as people are canceling and offboarding, which means your company isn’t growing and you’re running a hundred miles an hour to not grow. Trust me, I’ve been there. It sucks. Really sucks. Completely spinning your wheels.
Joe Troyer: Next, point number seven is show long term value for retention. A lot of things that I feel like people in the … Yes, I’m saying it … I feel like a lot of people are in the agency market are selling things to local business owners that have short term value, not long term value. “Hey Mr. Customer, I’ll help you get a bunch of reviews really quick.” “Great. How much is it going to cost?” “It’s going to cost 1000 bucks.” And then they’re like, “Why didn’t that customer stick around?” Everything should be delivering long term value. And if you’re delivering long term value, you’re going to have retention.
Joe Troyer: Folks at the end of the day, monthly recurring revenue is the thing that’s going to be make you able to exit and to leave your company one day. Without that, you can never leave. So I want you guys to understand that you were building a company that you can never leave. You can’t ever get out of it. I mean you can, but it’s going to be ugly. Retention is the name of the game. Nobody wants to buy a business that doesn’t have retention. So when we’re building out the product in the value ladder, the suite of products that we’re going to offer, we 100% have to be able to show and demonstrate the value, the return for retention longterm, not just in month one.
Joe Troyer: Frankie Alan says, “Joe, you’re on fire tonight.” Thanks, homie. You would never know that I woke up at 4:30 this morning and that this is my second webinar. Number eight, this is gonna ruffle some feathers. This is really going to ruffle some feathers. My eighth criteria, my eighth rule of The 13 Rules Every Product Must Fit is that each and every product has to be capable of being bought with a buy now button.
Joe Troyer: Does it mean that they have to be bought with a buy now button? No, but they have to be capable of being bought with a buy now button. So let’s unpack that a little bit. What does that mean? I believe that a lot of us, a lot of people in the industry have sold low ticket kind of front end products to get their foot in the door with a customer. I think it’s a great way to blow up the number of customers that you have really fast. I think that the downside is is that at scale is tough, and the reason that people do that is then to upsell into another offer.
Joe Troyer: Me personally, I want to challenge that in my business. I’m getting on a call to give away something to then get on a call and upsell something, just seems like a lot. Not saying a foot in the door offer is wrong, but if I really do a good job with one through seven and I do a really good job on the other list of one through six, I really challenge myself, I challenge the big idea, I challenge the unique mechanism, I challenge the value ladder, and every other thing that we’ve walked through so far, shouldn’t I be able to get them to buy now with a buy now button instead of having to jump on a console or a phone call or strategy call?
Joe Troyer: If it’s that good, if it really fits all of these rules, why? I see a lot of people in the industry, zigging, and I believe that the money is made when you zag. I’m going to zag. So what I mean by that, I’ll give you an example in the industry. I’m sure you guys can come up with other examples. I see a lot of people in this space saying that you should run a strategy call from the get-go with a call prospect, then with that strategy call, you should build out a marketing plan or the start, the bare bones of the marketing plan and from there, after that marketing plan is built out on this strategy session call, you get their help in building out the plan, then you charge them 10 grand to help flush out that plan for you, not to do it, not step by step just to flush it out.
Joe Troyer: Then once you sell that $10,000 package and you fulfill on it, then you go from there and you sell a $10,000 a month offer. Folks, that’s what your competition is doing right now. That’s what’s being taught. That’s what most “Big successful agencies,” or a lot of them are doing. I believe that we can’t skip that. I believe that we can scale it. I believe that we can scale this whole thing, this whole agency a whole lot faster if we follow the criteria that I’ve been through so far, the rest of these 13 and we think about this truly being capable of being bought with a buy now button.
Joe Troyer: That doesn’t mean that we can’t jump on a webinar to have people buy. That doesn’t mean that we can’t provide a foot in the door value first. That doesn’t mean that if we have a really good qualified prospect on the line and has one question that we can’t jump on the phone with them. Number eight again is that the product is capable of being bought or being sold with a buy now button. Good shit? Give me an A if that was good. I think this one’s worth its weight and goal and I think this is the key to a lot of scale for people on this call right now.
Joe Troyer: Number nine. You guys know me, I deal a lot with Google. I love Google. I also hate Google. It’s a very much give, take and a lot of take relationship it seems like. Google is a big public company. You know they throw all of us the zoo, the pandas, the penguins, and the hummingbirds and everything else. With Google, you see them itching and taking kind of market share, you could argue away from agencies. Do I ever think that there won’t be a need for agencies? No. Business owners aren’t marketers and they don’t know what’s happening and they’re not up to speed. There will always be a need for people that understand what they don’t.
Joe Troyer: I mean, it’s not because most of them are dumb, well, some of them are, it’s mostly just an education ploy. They haven’t worked through the hundreds of hours of education on marketing that you guys have or the thousands of hours. So number nine for me is a lot about fundamentals and not being able to be replaced by a Google, “We will do it for you offer.”
Joe Troyer: Number 10, require no more, no more than one client interaction per month. Yeah. Outside of onboarding a customer. I don’t believe that there’s any time that you should need more than one client interaction per month. Take this from a guy that has so huge whales, spending $100,000 a month in PPC, $80,000 a month in PPC, sold one gentleman that, was doing about that across two different accounts. So double those numbers in one sale. That’s a fricking whale of a client. Trust me when I say there is no need for more than one client interaction per month.
Joe Troyer: If both parties come to the table prepared, it will be an effective and efficient meeting. There are no guarantee or there are no reasons quite literally, there are no reasons for as Derek says, “Calls at 3 o’clock in the morning.” Frankly, that’s bullshit. And we need to do a better job as agencies setting the proper expectations. Larry says, “10 smiley face.”
Joe Troyer: Number 11 is we need to not be dependent on clients actions. How many of you guys have products that you’re selling right now that you’re onboarding customers for that you literally can’t onboard a customer, meaning you can actually start doing work for them without them doing something? Let me get this straight, Larry, Derek, Ricardo, Paul, Frankie, Michael, Larry, right? I just paid you x amount of dollars and now you need me to do something else.
Joe Troyer: How many tasks is it? I thought it was one. I need to do 10 things. Like, “Why did you just create me a job, Larry?” “What’d you just create me a job, Frankie?” So think about how you can make that process as seamless as possible. And you need to not be dependent on your client’s actions. So I’ll give you an example of how we overcome some tricky scenarios like this if this makes sense to you guys.
Joe Troyer: Give me a two if you don’t mind to cover this real fast. Fill out the intake form. Yeah, not really though, it doesn’t really work. Two, two. Not in most scenarios anyway, Frankie. So what we’re doing in 11 is once we sell a deal, the first thing that happens, we always get paid right away, immediately. A deal doesn’t get on-boarded until we get paid. That should be obvious. Everybody should be falling in line with that, but immediately what happens in the sales process, we get the customer to sign, we get the credit card information, we got the agreement sign, we charge the card. Yes, it went through. All right, great. Mr. Customer. We quite literally have them open up their calendar and we schedule a call with our fulfillment team.
Joe Troyer: The fulfillment manager then runs that call. She comes on, he comes on. And what they do on that call is very strategic. What we’re doing is we’re getting access to Facebook. We’re getting access to Google, we’re getting access to everything that we need access to and we’re doing it on the phone with the customer. Why? So when they send us their log in instead of actually having the onboard call that they don’t get the text message verification, they don’t get the, “Somebody from India is logging into your account.” “Somebody from the Philippines,” “Somebody from …” One of the outsourcers that we’re using, it doesn’t set off security metrics.
Joe Troyer: For those of you guys that has scenarios like this, you know exactly what I’m talking about. And then your client goes, “Hey Frankie, I’m paying you a lot of money for this. Who’s logging into my account? I thought you did this stuff. Frankie, you’re the expert, right?” Guys this makes some pretty sticky situations in just the back and forth. Even if your team’s all in the states, let’s take the outsourcing off the table. Your team’s all in the states, just onboarding a customer to run ads on any platform and access to Google Analytics and install this tracking code and that tracking code and all that stuff, I challenge you guys that that couldn’t be done on one phone call in onboarding.
Joe Troyer: Number 12 is that there has to be identifiable problems or opportunities that enable us to outbound prospect to what I call likely suspects. This simply means that I can find that if I’m going to sell PPC, that they’re not using things that they should be. If they have a website, is it mobile optimized? If they’re in Google My Business, is it verified? I need to be able to find prospects that have problems. And guys, all problems are really opportunities. They’re opportunities for you as an agency to solve them, but there are also opportunities for the local business to get fixed, that will make them money, that will save them money.
Joe Troyer: Every problem is a potential opportunity. And so that’s why I call them problems/opportunities. But we need to have those triggers that we can find that make us able to outbound prospects to people that we can help. So many of you guys know that my messaging for all of my prospecting is, “I know that you have this problem. I’ve helped other people do it. Here’s proof. Would it be worth me helping you too?” That’s how complicated my sales message is. It’s not hard. Not Hard.
Joe Troyer: Number 13 guys, this is it, The 13 Rules Every Product Must Fit. Number 13 is, of course, folks be part of that larger value ladder. So if your product matches everything, the last criteria is where do we stick it in the value ladder and does this make sense? That meets every other criteria, that meets all the other 12 criteria, where does it fit and does it fit or is there a conflict? Don’t stick a product into your services, into your value ladder haphazardly. Have this criteria.
