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$2.4 million in additional profit in 5
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days that's what one email campaign that
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we did in one of our portfolio companies
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Genera and if you don't know who I am my
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name is Alex rosi own acquisition. it's
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a portfolio of companies Des over $250
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million a year and I make these videos
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so that hopefully you can grow your
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business and make lots of money and then
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maybe someday I can invest in your
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business and help it grow too I want to
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walk you through step by step exactly
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what we did in this email campaign so
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that you can use the same thing in your
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business to get ideally even better
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results so let me walk through the
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context of this business number one is
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it's a business that relies
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predominantly on paid ads it's a
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consumer-based business so lots of media
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to generate lots of volume of
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transactions and leads so we had a very
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large email list and for the most part
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we weren't doing much with that email
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list besides following up for the
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initial transaction and then after that
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they were dead to us which I definitely
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don't recommend doing but at the time
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going into this it wasn't a constraint
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of the business and then it became one
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because all of a sudden some of our ads
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weren't performing as well and all of a
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sudden we thought oh my gosh we might
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not head our quarterly Revenue goals
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what else can we figure out enter the
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email campaign cool so let's walk
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through the numbers so the email list
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size was
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3.3 million emails now this was over a
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few years that we collected these emails
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and it was a traditional think about it
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like an e-commerce setup so it's was an
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opt-in and then a sale and then upsells
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so the next major number that we need to
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know is that this was a $2,000 price
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point and we had an upsell on the back
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end for about $88,000
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that a certain percentage customers
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would take now the next piece that's
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important for this is that we had buyers
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and non buyers that were on the list so
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this was just a total list of everyone
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that we had ever had now in this
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business traditionally to sell just this
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$2,000 item our cost to acquire customer
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was
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$1,200 so not a lot of margin there left
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over now you can do this because it's an
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automated selling machine so you can
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just crank on adsen with just this
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particular business does it's a nine
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figure company in terms of annual
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revenue but we're like hey one of the
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other stats about email that's important
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is that the cost to a Car customer on
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email once you've already acquired the
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lead is $0 which if I can have free
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customers that means whatever my gross
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profit is of selling my main thing drops
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straight to my bottom line and so as a
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mental contract for this I like to think
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about email kind of like a long-term
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investment account and so it's like you
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run ads every single day or you do
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outbound or whatever it is to build your
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list up and that's kind of like your
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paycheck right like you put work in and
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you get paid back right and it's just
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just like a direct relationship whereas
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the email is kind of like your 401k it's
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kind of like your investment account
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that you put you put money into and then
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over time it starts to compound and
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compound and compound and if you have an
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email strategy and I'm going to give you
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kind of an overarching email strategy
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that we like to employe in businesses
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this business just is crushed doing what
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we've been doing so it hasn't been the
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main focus but if you have a business
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like it is one of the easiest ways to
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just immediately plug in and print money
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and then the nice thing is is that even
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if it's late to the game I mean this
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this business does a lot of money uh you
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can still employ it and then immediately
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see the results there's two things about
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email and having followup Beyond initial
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followup that makes a business more
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valuable number one is that all sales
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that will come from email are going to
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drop straight to the bottom line in
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terms of profit and so most businesses
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95% of businesses are traded on a
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multiple of bottom line and so since
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these sales drop straight to the bottom
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line it will be a big enhance answer on
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the Enterprise Value the second point is
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that if you have consistent email sales
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that come in that number isn't going to
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really CH like tomorrow you don't go
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from 3.3 million to one and a. half
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million emails on your list unless you
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know you clean the list or whatever but
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fundamentally the list size isn't going
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to change overnight your ads might
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change overnight but your email list
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won't so what that does is it actually
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can smooth out volatility that occurs in
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a business which would make it more
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attractive to an investor long term
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you'd like to have some sort of regular
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email Cadence because things like
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deliverability and domain reputation and
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things like that come into play I'm not
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going to get into that stuff for this
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video I'm just going to talk about big
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picture email strategy that you can
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employ in your business now to make
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money great now that we have the numbers
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in the context let's talk about the
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campaign so what we did for the list is
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that we promoted a challenge and it was
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a 7-Day Challenge and the reason that I
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think this is interesting and important
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is that number one this came from the
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marketing director and I think the
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reason that I want to highlight this is
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that this is why you need to have smart
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people this didn't come from me this
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didn't come from the founder the
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marketing director was like hey I think
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we should do a challenge now we weren't
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actually super on board for this because
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we're like hey this might be a
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distraction but it turned out to be
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really really good and added over a
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hundred million in Enterprise Value to
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the business remember this business is
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already a multi hundred million dollar
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Enterprise Value business and so adding
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10 or 20% to the Enterprise Value can be
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a very big difference the second thing
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is this challenge actually came from the
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product and so we pulled out something
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that was already something that we knew
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work that we were for customers we
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pulled it out and we made it into a lead
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magnet and so fundamentally a lead
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magnet is a very is a complete solution
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to a very narrow problem and ideally
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once you solve that problem you create
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the next problem which you solve with
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your offer and so fundamentally that is
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what a good lead magnet does and this is
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why challenges I think are very strong
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lead magnets for a lot of businesses
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because they also satisfy all the
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elements of a value equation which I
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talk about in my first book $100 million
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offers which has sold almost a million
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copies so far now the value equation
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works like this you've got the out
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which is the thing that people want and
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so as long as you have a clearly defined
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outcome that they want then that becomes
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more valuable now you multiply that by
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low risk or the perceived likelihood of
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achievement How likely is it that when I
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buy this thing I'm going to get this
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thing if you have an outcome you want
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and it's guaranteed to get it you're
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this is going to be really valuable but
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there's two other elements the thing is
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is how long is it going to take so if it
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takes a really long time then I'm be
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like okay sure I have this outcome which
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is I get really rich and the guarantee
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is is that it'll definitely happen but I
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got to wait 20 years of investing my
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money to become really rich well it's
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not as attractive anymore right then you
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do uh ease which is how hard is it so
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effort and sacrifice that are associated
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with this outcome and so these are the
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four elements of value and so a
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challenge is a really clear outcome that
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everybody wants it has high likelihood
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of actually happening it happens really
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fast because we get attach of time to it
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and because we're going to say hey we're
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only going to do this one thing and
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we're going to give you all the steps it
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the perception of the Prospect is that
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it's easy which makes these very strong
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lead magnets if you want to go through
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the experience of what going through one
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of these challenges looks like and you
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are somebody who wants to start a
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business already have a business either
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way you can go join the school challenge
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for free it's for 14 days we walk you
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through everything that we have I take
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calls in that Community to help people
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get their first business online started
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we have everything down step by step
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once a month I drop a full day
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Mastermind training of all the people
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who are starting communities and making
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them uh we've got it down like we're
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pretty good at helping people get to
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that first dollar and so you can for
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free go to school.com games and I'll see
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you in there so for this particular
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business it's a business that helps
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people achieve an outcome that actually
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takes a little bit of time and so what
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we did was say okay is there a smaller
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mini version of this big outcome that we
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can just kind of give them a taste so if
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I was in weight loss I'd probably have
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them do some sort of like 7-Day cleanse
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or something like that again I'm not
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going to get into what's good what's bad
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here I'm just saying that I would have
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some person that gets you know they lose
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7 lbs in 7 days a lot of that's going to
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be water but they're excited about it
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they're like great now let's talk about
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your long-term goals right because now
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they have a element of belief they
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they've taken action they've gotten some
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reward for their behavior they've
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interacted with us all of these things
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align with them making a purchase what
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challenges do is they approximate brand
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and so this is how it actually works the
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reason the direct response internet
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marketing world does a lot of these
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things is because none of them have
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Brands and so like for me for example if
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someone's already consumed a gazillion
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videos of mine or podcast of mine then
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if I say hey do you want to check this
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thing out a lot of people are like yeah
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you've already given me a gazillion
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other things and so sure but if you're
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brand new then what you do is you
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basically approximate a relationship
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where you would have already had a lot
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of interaction so you basically try and
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cram you know a six-month relationship
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into seven days so it's kind of like one
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of those dating shows where they say
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will you get married in 30 days and they
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like try and cram a whole relationship
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into that period it actually kind of is
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the same thing when you come from a
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marketing perspective you're just
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rapidly warming up you're like
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microwaving the prospect rather than
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slow cooking it which is kind of the
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normal branding
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right and for example in the school
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games that's our version of a challenge
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right we just call the school games the
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cooler rapper we have leaderboards and
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prizes and like that and so we walk
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people through how to start a business
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online and so we get one out of three
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people just under to get their first
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dollar within their first month which is
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pretty cool we put a lot of time into
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getting that kind of outcome and then
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once someone makes a dollar then they're
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like shoot I can see how I could make
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more dollars and so that's the idea is
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like you want to approximate you want to
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do it really fast you make as easy as
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possible make it as guaranteed as
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possible and an outcome that they care
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about so now that you know what the
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setup is let's go back and add a couple
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of numbers to this campaign and then
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I'll walk you through it happened so we
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sent the emails only to a small sub
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segment of the list so we had 464,000
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people that we sent it to and that was
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because we wanted to test it out we
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didn't want to blow our load on
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the on the whole
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list and so we just set it to like 15%
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of the list and the reason we did that
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is cuz like hey if this thing bombed we
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didn't want to like piss off the entire
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list list and so we sent it to 15% of
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the list a lot of them were non- buyers
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and from there what we saw is we had
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10,000 people who
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registered for this thing which good or
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bad whatever for us in an absolute
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number 10,000 people shows a a pretty
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decent amount of Interest so in order to
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get this 10,000 we had an 18% open rate
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meaning 18 you know just about one out
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of five people opened the actual email
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okay great now from there we had about
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five % of those people actually click to
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join the thing and then the rest was the
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optim percentage on the page to register
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that got us to 10,000 so it went from
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464 to
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83,000 uh that opened it from the 83,000
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10,000 of them actually registered so a
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pretty good percentage actually uh who
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did click wanted to do it and as you get
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into a Cadence of this which I'll
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explain at the end in terms of how to
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implement this ongoing as an email
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strategy to make more money is that as
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soon as you really nail what that that
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lead magnet is or what that challenge is
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or whatever it is that you're going to
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get your leads to engage again or
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re-engage these funnel metrics will
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always improve you're going to split
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test the subject headlines you're going
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to split test the opening on the email
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you're going to split test the ctas and
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the links that you're going to use the
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landing pages that you send them to the
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offer that you that you attract them
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with the headline of the the naming of
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the challenge which by the way is a
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great way to vary this up if you do it
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like once a quarter which I'll talk
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about later like you can do the same
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play but you just put a different
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wrapper on it so for example in the gym
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World cuz I came from this world it's
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like I might have a six week uh you know
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six we challenge I might have a 42-day
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fix I might have a 42-day transformation
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I might have a six we booty blast I
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might have a six week uh slim for Santa
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I might have a lean by Halloween like
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I've done a lot of these accountabil
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buddy you know challenge like I've done
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a lot and you know slim for summer all
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of these things work um but
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fundamentally what are we going to do
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we're going to eat you're going to eat
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less you're going to move more and so
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even though the deliverable of the
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challenge or the lead magnet might more
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or less be the same you can just wrap it
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seasonally or you can wrap it based on a
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specific pain point that happens at that
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time of year so let me walk you through
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the the results math
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right so we'll do a clean page so we had
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10,000 people who registered I actually
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don't have the data on how many people
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uh attended live and watched throughout
00:11:51
the whole seven days I can get this but
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I'll just I know that the high level and
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so from 10,000 we had 800 people who
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actually bought all right so we had
00:12:01
about 8% of people who made the purchase
00:12:03
which is pretty good not unhappy about
00:12:05
that at all do I think we can improve it
00:12:07
yes but fundamentally this was to a list
00:12:09
of plenty of people who hadn't bought
00:12:10
they knew who we were so I'd say it was
00:12:12
a little bit warmer than true cold uh
00:12:14
but a lot of them had never bought
00:12:15
anything from us before and so that
00:12:17
resulted remember this is a $2,000 price
00:12:19
point in $1.6 million in new sales that
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we did just from this email campaign
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you're like wait a second I thought you
00:12:25
said you did 2 million or more than 2
00:12:26
million let me explain what happened
00:12:28
from there so from there we had 20% of
00:12:31
people ascended into the AK product
00:12:33
which allowed us to make an extra 800k
00:12:36
from the ascensions and so that gave us
00:12:39
$2.4 million in total from this 7-Day
00:12:43
email campaign now I want to break
00:12:45
something very cool off for you which is
00:12:47
that you see 2.4 million now that was
00:12:50
derived from a list that was 464,000
00:12:54
emails and so that means we were making
00:12:56
roughly six bucks per email in this
00:13:00
campaign and so if you know that you do
00:13:03
this call it four times a year which I
00:13:06
would recommend you do when we get into
00:13:08
the takeaway section meaning one time
00:13:09
per quarter you do a cleanup we say
00:13:12
great we're going to take all the leads
00:13:13
that we had and we're going to run them
00:13:14
through a conversion mechanism in this
00:13:16
way it's not like oh shoot I have to do
00:13:18
this all the time it's like all right
00:13:19
I'm going to do this big thing we do it
00:13:20
once a quarter and we clean up our q1 we
00:13:22
clean up our Q2 we clean up R Q3 by
00:13:25
running all of our leads through this
00:13:26
High converting funnel that we've
00:13:28
structured purposely for non- buyers so
00:13:29
we have different hooks different front
00:13:31
ends that has different messaging that
00:13:33
might not have been the primary message
00:13:34
that converts the most people which is
00:13:36
our first you know whack at it but this
00:13:38
is our second and third whack at it and
00:13:40
by varying the titles that you use in
00:13:43
each of the quarterly things that you do
00:13:44
so q1 will have a different name than Q2
00:13:47
you'll still be able to attract people
00:13:48
without necessarily fatiguing or tiring
00:13:50
the list and in between those times you
00:13:52
can then simply provide value to the
00:13:54
list and so you've deposited some
00:13:55
Goodwill that earns you the right to be
00:13:57
able to ask for the sale so let me walk
00:14:00
you through the takeaways that we had
00:14:01
from this that you can use for your own
00:14:03
business to make more money so there's
00:14:06
four main takeaways that I would
00:14:08
recommend you take from this that I take
00:14:09
from this number one is smart people all
00:14:12
right so you have to be able to trust
00:14:14
your people to make recommendations now
00:14:17
neither the CEO nor I so I like to say
00:14:19
this like I also am not always in favor
00:14:22
of ideas that make lots of money cuz I
00:14:23
mess up too um but we were like you know
00:14:26
what they're a little closer to it we
00:14:27
will trust that they're super excited
00:14:28
about it cuz the flip side is if you
00:14:30
bash every idea that your team comes to
00:14:32
you with then they're not they're going
00:14:33
to stop thinking about ideas and then
00:14:34
all of a sudden you're like why doesn't
00:14:35
my my team ever think of anything it's
00:14:37
like well because you turn them down
00:14:38
every time and so there's kind of like
00:14:40
what Hills do I want to die on and what
00:14:42
times do I want to say hey give it a
00:14:44
shot I don't think like is this going to
00:14:45
do damage to the brand no I don't think
00:14:47
so we're currently not doing anything
00:14:48
there and if you're really passionate
00:14:50
about it sure let's do it so one having
00:14:52
smart people two which is trusting them
00:14:55
all right so I say this is still his
00:14:56
first kind of people related for this is
00:14:58
you still got to trust those people and
00:15:00
make a bet with them and part of the
00:15:02
reason I say trust them obviously you
00:15:03
want to trust them because they're
00:15:04
competent they're intelligent and
00:15:05
they're well-intentioned but the other
00:15:07
thing is that they sometimes just have
00:15:08
data that you don't have because
00:15:10
fundamentally in a business there's data
00:15:12
that's happening all over the place and
00:15:13
you are only going to get Snippets as a
00:15:15
CEO especially the bigger the company is
00:15:16
right this is the business of almost 10
00:15:17
million a month like it's a very large
00:15:19
business there's lots of things going on
00:15:20
and so that person is going to be much
00:15:22
closer to the data have a much closer
00:15:24
pulse uh than sometimes the founder or
00:15:26
CEO might have and so sometimes they
00:15:28
have data that you're not working with
00:15:30
and that's why extending a bridge of
00:15:31
trust is is is important so the second
00:15:34
takeaway is
00:15:37
offers to money all right so the amount
00:15:41
of offers that you make to any Prospect
00:15:43
is directly correlated with the amount
00:15:45
of money that you'll make with the
00:15:46
single caveat that every time you make
00:15:48
an offer you lose Goodwill and so what
00:15:50
you want to do is make sure that you're
00:15:51
depositing sufficient Goodwill that you
00:15:52
can earn the ask and so make as many as
00:15:56
you can while also providing as much
00:15:59
value as you can which means that if you
00:16:01
want to make a lot of offers you just
00:16:02
got to provide that much more value now
00:16:04
with this particular instance we were
00:16:06
going to a list that we had emailed but
00:16:08
not a lot but we hadn't really emailed
00:16:10
any offers to in a very long time and so
00:16:12
even though we weren't putting a ton of
00:16:14
value our give to ask ratio was still
00:16:17
okay because we hadn't asked at all and
00:16:20
so I talk about the give to ask ratio in
00:16:22
the content section of this book and the
00:16:24
reason that I actually consider email a
00:16:26
form of content is that it's one to many
00:16:28
distribution to people who know you now
00:16:31
it's just free which also is just like
00:16:34
when you post on social media the only
00:16:35
difference is that you control 100% of
00:16:38
who gets this whereas on social media
00:16:39
algorithms and things that distribute
00:16:41
your content but fundamentally you're
00:16:42
Distributing one message to many people
00:16:44
and it's free and so that is what makes
00:16:46
email so profitable just like organic
00:16:49
and I want to add a little caveat here
00:16:51
which is that it's okay to ask for the
00:16:54
sale again and so all these people or
00:16:57
the majority of these buyers hadn't
00:16:58
bought bought this thing and so when we
00:17:01
asked again some people are afraid of
00:17:02
making the second ask but people get
00:17:04
busy you know they they leave a shopping
00:17:06
cart up and then they you know their
00:17:08
their kid screams and they forget about
00:17:09
it like it happens and so you can't get
00:17:12
too bent out of shape on the fact that
00:17:14
like you're going to offend people by
00:17:16
asking them it's okay to ask as long as
00:17:18
you earned the right and you've given
00:17:20
until you've deposited enough Goodwill
00:17:22
that there's enough demand there surge
00:17:24
there that you can let loose the valve
00:17:26
of money and it can come on and then you
00:17:28
can close it again
00:17:29
so the third takeaway is that you can
00:17:30
sell the same thing in a different way
00:17:33
and so I can sell a product on a webinar
00:17:38
I could sell it on a phone I could sell
00:17:39
it via a live Workshop in person I could
00:17:42
sell it via email and so you can have
00:17:45
less offer fatigue by selling the same
00:17:48
offer in a different medium and so you
00:17:51
can get more hacks or more at bets
00:17:53
because people will judge their Goodwill
00:17:56
with you based on the medium that you're
00:17:58
communicating in and so this is
00:17:59
something that I have found it also by
00:18:01
the way is a great way to vary products
00:18:03
up and so for example if you're an
00:18:05
educator I'll just use this because it's
00:18:06
simple uh if I have content on the
00:18:09
internet that's free if I make a course
00:18:12
you could charge for it or you could
00:18:13
make it free if I deliver that same
00:18:15
course in a book format it's not going
00:18:17
to be able to sell for the same amount
00:18:18
that a course could if I deliver that
00:18:20
same format in a live inperson
00:18:22
experience that's going to be probably
00:18:24
charged significantly more than it would
00:18:26
in a digital format if I did a live
00:18:28
format but virtual it would be a
00:18:29
different price point than the live and
00:18:31
in person and so for each of these
00:18:33
mediums even if the same commun same
00:18:35
information is being taught you price it
00:18:37
differently it's the same reason that
00:18:38
when you go in person in college they
00:18:40
charge you a arm and a leg for it but
00:18:42
digital College almost ubiquitously is
00:18:45
way way way lower priced even though
00:18:47
it's the same information it's simply
00:18:48
being delivered through a different
00:18:50
medium and so you can sell in different
00:18:53
mediums and deliver in different mediums
00:18:55
and from my experience people will
00:18:56
apprise or judge the decision based on
00:18:59
that Medium exclusively so the fourth
00:19:01
takeway is what I'll just call the
00:19:03
quarterly cleanup so this is probably
00:19:06
the most tactical recommendation that I
00:19:08
can give you that I alluded to a little
00:19:09
bit earlier which is I would recommend
00:19:11
that you do this once every quarter you
00:19:14
do this conversion mechanism whether you
00:19:16
do some sort of challenge or some sort
00:19:17
of defined outcome or some sort of lead
00:19:19
magn that you use to re-engage your list
00:19:22
and put them through some sort of
00:19:23
conversion event with a deadline with a
00:19:25
big promise that you know you can
00:19:26
deliver on and so if you do this once a
00:19:28
a quarter and you weren't doing this you
00:19:30
could almost immediately add like you
00:19:31
saw the the numbers there we had $6 per
00:19:34
email from that $450,000 sub segment now
00:19:38
to prove that this worked what we did
00:19:40
was we just did it again by the way one
00:19:42
of my favorite business strategies do
00:19:44
something that works do it again do more
00:19:47
of it and ideally do it better and so we
00:19:49
ran the exact same play again to a
00:19:50
different Subs segment of the list and
00:19:52
boom we hit 2.2 million we didn't even
00:19:54
wait a quarter we just did it the next
00:19:55
month and so I say this because this
00:19:58
stuff works and once you know it works
00:20:00
you can keep duplicating it over and
00:20:01
over again and guess what we're going to
00:20:02
do next quarter now that we know that we
00:20:04
tested it on two subse segments we're
00:20:06
going to do it to the whole list and
00:20:07
we're going to use the learnings that we
00:20:09
had from the first two tests and so if
00:20:11
you are going to run this as the corner
00:20:12
cleanup I would recommend using 10% of
00:20:15
your list or a smaller percentage
00:20:16
because believe me as soon as you learn
00:20:18
the things that you messed up on the
00:20:19
first try you're going to be really
00:20:20
grateful that you didn't run into the
00:20:21
entire list so do one two or three test
00:20:24
runs before you blow the the whole list
00:20:27
up with this new uh promo that you've
00:20:30
already tested the messaging the subject
00:20:32
head the ctas the landing page those
00:20:34
little tests that you can run in the
00:20:35
meantime that can sometimes double or
00:20:38
triple the throughput of the campaign
00:20:40
and so with every one of these campaigns
00:20:42
I would recommend always testing some
00:20:44
elements of it so you can always make it
00:20:45
a little bit better and so one you're
00:20:47
doing this every quarter two you can
00:20:50
test it with a small portion of the list
00:20:52
three is that in order to make it seem
00:20:54
and appear different to the non- buyer
00:20:56
who doesn't buy on the first hack or the
00:20:58
second hack we change the naming of it
00:21:00
or the wrapper of it so change the
00:21:02
landing page change the subject head of
00:21:03
the email change the name of the
00:21:05
challenge or the lead magnet even if the
00:21:06
core components are the same
00:21:08
fundamentally your business isn't going
00:21:09
to change right but the way that you
00:21:11
position it or the reason why that you
00:21:13
have the promotion can and I recommend
00:21:16
doing something that's seasonal or doing
00:21:17
something that's a life event for you I
00:21:18
talked about this in the the last
00:21:20
chapter of the offers book which this is
00:21:22
ESP specially important for local
00:21:23
businesses because you have much smaller
00:21:24
audiences and so fatigue happens much
00:21:27
faster with a tiny audience and so you
00:21:28
actually have to have a lot more variety
00:21:30
and I know this cuz that was the world I
00:21:31
came from and so that's why I have all
00:21:33
these these isms in the back of my mind
00:21:35
of how I had to wrap and rewrap the same
00:21:37
thing which is fundamentally Fitness and
00:21:38
Nutrition right like how many ways can I
00:21:40
slice it turns out a lot and I will say
00:21:43
that once you have one annual calendar
00:21:45
you can pretty much stick with it so you
00:21:46
don't need to come up with another thing
00:21:48
next year once you have your four big
00:21:50
promos that you're going to run
00:21:51
throughout the year that you know are
00:21:51
tested those just become autopilot and
00:21:54
they just become cash printers and if
00:21:55
this type of case study deep breakdowns
00:21:57
on business interesting you I have
00:21:59
another one where I doubled one of our
00:22:00
portfolio companies in 60 days check
00:22:01
that one out
