Young and Profiting with Hala Taha - Get More Customers, Marketing Experts Share All | Alex Hormozi, Seth Godin, Jay Abraham, Kelly Roach | Entrepreneurship | YAPSnacks

Episode Date: December 2, 2022

Several aspiring entrepreneurs are put off by the idea of marketing: what if people don’t want to buy my services? How do I reach the right customers? How do I keep my customers coming back?  In this YAP Snack, we’re chatting with some of the biggest names in marketing - Kelly Roach, Jay Abraham, Seth Godin, and Alex Hormozi - about how to lock in your customers.  They break down some of their tried-and-true marketing strategies, like conviction marketing, preeminent business, and targeting a smallest viable audience. They discuss the value of building trust with your customers and why you shouldn’t market your product to large groups of people when you’re just starting out. They also talk about how to position yourself as the leading authority in your field and why that attracts long-term customers.  This YAP Snack is a MUST for any young entrepreneurs or people who are considering starting a business. Marketing doesn’t have to be scary! By the end of this episode, you’ll have a better understanding of how to meaningfully market your brand to the people who need it most.  Topics include: - Kelly Roach’s Conviction Marketing Pyramid - Diversifying your marketing strategy  - Establishing conviction  - Permission marketing  - Targeting a smallest viable audience  - What is preeminent business?  - Becoming the top authority in your industry  - Alex Hormozi’s Value Equation -And other topics… Sponsored By: More About Young and Profiting Download Transcripts - youngandprofiting.com   Get Sponsorship Deals - youngandprofiting.com/sponsorships Leave a Review - ratethispodcast.com/yap Watch Videos - youtube.com/c/YoungandProfiting Follow Hala Taha LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ TikTok - tiktok.com/@yapwithhala Twitter - twitter.com/yapwithhala Learn more about YAP Media Agency Services - yapmedia.io/ Join Hala's LinkedIn Masterclass - yapmedia.io/course 

Hey everyone, you're listening to Yap Snacks, a series of bite-sized content hosted by me, Hala Taha. I want to talk about customers today, Yapfam. We're going to talk about how to attract customers for your business. Understanding how to attract the customers that will be raving fans for your product and service and tell all their friends is a skill that absolutely needs to be mastered if you, in fact, want to be young and profiting one day. I felt inspired to put on this episode because I just launched my first LinkedIn Secrets Masterclass

and it was a total smash hit. The entire project A to Z was a complete success. We ended up selling out all 40 seats. I had a gushing first cohort who were giving us amazing reviews and I was able to attract all of my ideal students and make nearly $50,000 in revenue with an idea that I thought of less than 30 days ago. And I'm really lucky, Yapp fam, because I've become a sales and marketing guru my And that's because for the last five years, I've been interviewing all the top experts in

marketing and human behavior. And so they've drastically influenced my approach and I've learned things here and there. And I've made my own strategy based on what I've learned. And today, I'm going to be sharing just a handful of my favorite conversations and takeaway moments with guests like Kelly Roach, Alex Hermosey, Seth Godin, and Jay Abraham. So first, I think we need to distinguish the two main types of marketing. There's push marketing and pull marketing. Push marketing is paid ads. It's paid advertising. It's usually very costly. You pay per click. The algorithms are always changing. So it's not really something that's consistent. And it's more of a shotgun approach for attracting new clients that's best for point in time situations like perhaps

you're launching a new product or you've got a sale and you want to attract new customers really fast. But in terms of a long-term approach, you really want to focus on pull marketing, which is organic content marketing. It's about luring your customers in, pulling them in. And it's a free and sustainable way to do your marketing and it has a flywheel effect of returns. And I believe that in order to have an effective content marketing strategy, there are two types of topics that you should primarily focus on. The first is educational and the second is emotional content. And I talk about this in my course. And past Yap guests and master marketer Kelly aligns to this approach. She's the founder of an eight-figure business in the online coaching space called Kelly Roach Consulting. And when I talked to Kelly,

she broke down her three-step content marketing strategy into what she calls a conviction marketing pyramid. The foundation of the pyramid is how-to marketing. And this really starts off with luring your customers in with solutions-based marketing, how-to tips and tricks material that establishes yourself as a credible teacher. The second level of the pyramid is hope marketing, and that's really to keep your customers retained and coming back and to grow a community. Because with hope marketing, use inspirational and emotional storytelling. These stories like your rejections and your failures and things that make you relatable,

this is how you connect with people and share your personality and become a mentor that your customers actually start to look up to. Elevating your marketing beyond the how-to level and to the hope level is what makes your market both like you and want to be like you. Very different distinction. Now let's hear from Kelly Roach on how-to and hope marketing. So how-to marketing is the most basic element of marketing and it's typically the way that people enter your ecosystem. It's simple. It's easy to do.

Anyone can do it. It costs you nothing. Record a quick video on your iPhone. it on your stories, pop it on your page, share it across different profiles, boom, you're doing how to marketing. This is literally a transfer of knowledge. It's where I'm showing you, hey, Hala, I know how to do something that I know you're interested in doing. I'm going to be your teacher. So all of a sudden, Hala watches my video. She spent two minutes with me. She's like, damn, I like this girl. She just taught me how to do something I didn't know how to do.

All of a sudden she's like, cool, okay, this is someone that I like, this is someone I trust, you know, whatever the case. So how to marketing serves a really important person. because when people are scanning the airwaves and when they're looking for new accounts to follow and they're looking for new people to learn from, they want quick, digestible instant tips. Now, the problem with this is just like people are scanning the airwaves looking for a quick, easy, actionable tip, they're doing that all day every day. It's called escapism, right? That's why people go online and scroll and scroll and scroll. It's escapism. So it's kind of like you got the girl, she said yes to the date and now you're like, cool, I already had a date with that girl.

Let me see. Oh, she's really cute over there, right? So the problem with how to marketing is it's a great way to get people in your ecosystem. It's not a great way to keep them in your ecosystem. And we have to remember, what's the purpose of marketing? The purpose of marketing is to attract so that you can nurture and finally convert people into paying customers. Well, if you miss this middle section of nurture, they never make it over here to conversion. And that's what's happening to a lot of marketers. They pump out this how-to marketing. And this is, you know, a lot of people are doing their pointing and they're dancing and, you know, their lip-singing and all those things. And that's fine. Do you have a way to then bring them through that process and finally get them to convert? Okay. So how to get them in? It doesn't keep them there. We want you to not just do how-to, but we want to elevate from, okay, I see you as a credible teacher. I see you as an authority. wonderful. Now let's elevate. Let's figure out how are we going to get people to keep coming back? Well, if you notice in the conversation that we're having here today, Hala, we talked a lot about

stories, right? We talked a lot about experiences that I had experiences that you had ways that we resonate with each other. What did we just do? Bring out emotions. Exactly. So the people that are experiencing this show are going to say, you know what? I've only been more at that goal for a year. I think I can keep going. Kelly kept going. Hala kept going. They both run these wildly successful companies now. Maybe there's nothing wrong with me that I wasn't an overnight success in six months. Maybe if I stick with it, I am going to achieve my goals after all. Okay, now we're on to something. Right. And this is why, of course, podcasting is so powerful. It's such an amazing medium for hope marketing. So hope marketing is the biggest chunk of your pyramid.

And this is where you really connect with your audience in an emotional and a sensitive way where people are like, you're not just a teacher. You're not just an authority figure. You are my friend. You are the person that has been in my shoes. You understand everything that I've gone through. You understand everything I'm going through now. And you cross the bridge the other side. So Hope Marketing is really about reaching down, grabbing your audience and like wrapping your arms around them and saying like, no, you're not quitting.

You're coming with me on this journey. I'm going to support you every step of the way. I've been there. You can get there too. And hope marketing is really what's going to keep people coming back. I call it like the sadness factor of your brand. It's the thing that really makes people feel deeply connected to you as a person, not just as a marketer that can give instruction, but as a human being that has feelings,

that has emotion that's been through some things, right? Does that make sense? Oh, my gosh, totally makes sense. If how-to marketing is what people come for, hope marketing is what keeps people engaged. When I launched the LinkedIn Masterclass, for example, I conducted LinkedIn live stream Q&A sessions where I answered any questions about LinkedIn on the spot, everything from breaking down the algorithm to how to go viral to sales tactics on LinkedIn. And it really established myself as a credible teacher and gave a teaser to my masterclass

in terms of what it would be like. It was the perfect how-to element to promote my course. At the same time, I also used hope marketing strategies. So, for example, I documented both the good and the bad aspects of launching this course. So the exciting story of how I got the idea to start Yap Academy and I started the next day. People loved that story. Connected with them, they felt relatable. They were proud of me.

They wanted to support me. And then I also told the frustrating story when some community members told me that my course was too expensive. And again, I was raw. I was authentic. I talked about my challenges launching this course. I challenged people's values and opinions. And I got them talking at the end of the day. My stories keep my audience sticky and engaged and makes me feel like an old friend,

even though many of the people on LinkedIn have never even met me before. Moving up the pyramid, if you master these two buckets of how to and hope marketing, you have a chance of reaching the proverbial content marketing summit and the top of Kelly's content pyramid. her signature strategy, conviction marketing. Conviction marketing is all about identifying the gaps in your market and communicating your commitment and solutions to fill those gaps confidently and truly believing in what you're saying.

It's about standing out with unique beliefs and not following the crowd and having undeniable proof that you are the best at what you do. Now we're going to move to the top level of the pyramid, which is like the elite level. You can't get to it until you finish steps one and two. how to and hope. And then you can be, you know, top of your field if you can get conviction marketing rights. So talk to us about what that definition is and what that is. Yeah, it's absolutely true. So the way that you want to think about it is at the bottom of the period, you're a teacher,

right? You're giving tips, you're giving strategies, you're giving how-toes. You are demonstrating that you have knowledge and expertise that your audience does and therefore you're in a position of authority. In the second category, now you're their confidant, you're their friend, you're someone that they want to hang out with they want to have a glass of wine a cup of coffee you know they want to have a beer with you there's someone that you like so they know you now they like you right and and you're kind of like that cheerleader that friend that they kind of want to stay connected to but let's talk about how we get from the friend category right to the mentor the trusted advisor category because you're not just going to give your friends money right

you're going to give your money to the mentor that you believe is going to change your life You're not going to go by from the person that you like the most. You're going to go by from the person that you think is going to change your life. So conviction marketing is about stepping into that role of trusted mentor. It's about stepping into that role of your greatest advisor, right? When you think about the category that you're in, you want to own that word in the mind of your audience. And conviction is the only thing that's going to do that for you. Conviction is what's going to lead to conversions.

I would write that down. Conviction equals conversions. What does it mean to be convicted? It means to be so strong and so powerful in a set of beliefs, right? It's about beliefs. Conviction marketing is about taking a set of poor beliefs and infusing them in every single element of your brand so that when anyone interacts with you, they feel confident that they are going to achieve a certain outcome when they open up their wallet and give you their

credit card because you are so convicted, you have such a high level of belief. about the result that you're going to provide. When people interact with you, the number one thing that they're saying is, do I believe this person? Do I trust that linking arms with you is going to make my life better? Do I believe that by giving you my money, this result is going to happen? It's all about believability. So if it's all about believability, you better know what your convictions are

and you better be able to say those convictions with a level of confidence and certainty. Let's hold that thought and take a quick break with our sponsors. At Yap, we have a super unique company culture. We're all about obsessive excellence. We even call ourselves scrappy hustlers. And I'm really picky when it comes to my employees. My team is growing every day. We're 60 people all over the world.

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When you are believable, yap, bam, you are magnetic to your customers. And the most magnetic companies in the world are companies that follow the strategy of preeminence. I love the concept of the strategy of preeminence and I highly aligned to it. I first learned about this from Jay Abraham, who was a world-renowned marketer. He's worked with people like Tony Robbins and Damon John. And what he told me about the strategy of preeminence was completely life-changing for me. In fact, I made all of my executives read his book because I aligned so much to his strategy. Being preeminent in your industry means that you are the obvious choice.

You are the hands-down best possible path for your clients. And you've become preeminent by having a flawless reputation, by always putting the customer's best interest first. You value service above everything else. Always over deliver and you're known as a top source of information. I've always had a very servant mentality. From when I first started this podcast to now my company with Yap Media, a preeminent business is there for the long game. They're there to make a positive impact, not just a quick buck. So I had a client 25 years ago that was in the publishing business and their business was three times larger than their closest competitor. They charged 50, to 100% more.

They had far more repeat and multi-buyers, and they ended up selling it, I'm talking about decades ago for $650 million, which was a lot. And I spent a week interviewing everybody that was critical in the business, the CEO, the, the architect of their philosophy, their executives, their managers.

And I took thousands, it's literally thousands of pages of notes, and I distilled it into what I call the strategy preeminence. And it starts with this belief that you want to be the most trusted advisor, the only possible source they could turn to, and that the only way you can do that is by caring more, doing more, being more in the eyes of the audience. And you can't do that if you're not willing to, first of all,

understand, appreciate, acknowledge, recognize, and really go deep to understand who, what, why, how your audience is and not just superficially, but see them beyond just a transaction, but as a human being. The next is you have to have a positioning that is distinctive, not the same thing everyone else is you have to have a point of view that animates their spirit and gets them thinking differently, whether it's more depth or whether it's a different take, you've got to be willing, and this gets really interesting, to never allow anybody to buy more than they should or less than they should in less quantity, quality combination than they should, not because you're going to lose money, but because you're always guiding and advising them as their most trusted advisor

and what's going to give them the best outcome for what they're doing. You have a moral responsibility, a privilege, and an opportunity if you really are operating at a higher level, and you're bringing a higher level of value, carrying, protection, enhancement, whatever your product or service delivers, to not let the person not buy from you, if they should, and not by your competitor, not because the competitors, you know, a so-and-so, but because the client will be to serve. And I want to make sure that my listeners understand what preeminence really means. It means that you're no longer knocking on doors to get customers.

The customers are coming to you because you're seen as the person. Your clients are referring you because you're doing the best job. You're their trusted advisor. They can't even think about anybody else who could do it better than you. So describe to us what it looks like when you are the preeminence. business or person in your industry because I want people to understand what that means and how can they tell if they have it or they don't. It means the first thing is that they're in the relationship for a different reason than most everyone else around or comparable. They're in it because they want

to make a better contribution. They want to add more value and they understand what value means to the other side. It means that you are always, always telling people the truth, what you feel. It means you are always making yourself aware of whatever you're doing and how it affects everyone else in the food chain. It means that you don't think in terms of how much money is on, it came into the cash registered today, you're thinking about how many organizations, individuals, did we get the chance to serve? And then you think in terms of service. And when you live in that kind of a mindset,

you possess the purest, a single attribute that people strive for most of their life and never know how to get, and that's absolute ethical advantage over everyone else. But it's pure. If I'm going to do this with you, I want to make darn sure that I'm not intellectual entertainment, that I move the people watching, listening, irrespective, whether they're entrepreneurs, executives, CEOs, employees, employers to a higher level of understanding and thus a higher level of action, transaction, contribution, fulfillment. And that's what being preeminence all about. When it comes to establishing your preeminence and authority, Seth Godin, one of the most well-known marketers and authors in the world, says that you shouldn't boil the ocean and try to win over

an entire market at once. Rather, he says that you should start small and optimize for a minimum viable audience. When done right, this approach has a viral effect where you win your customers over so much so that they stick around and tell all their friends. So let's touch on that trust piece a little bit. How do we get our audience to start to trust us? And how do we know when our content may be relevant to them? Okay, so I will start with the second part first, relevant. The internet is not a mass medium.

Television is a mass medium. It used to be back when you were a kid that the typical television show reached 40 million people. Now, there is nothing on the internet that reaches 40 million people at the same time. Nothing. What the difference is, is that there's 40 million channels

that each reach 100 people. So it reaches more people. It's micro. It is not mass. So finding people who are interested in what you're doing isn't that hard because they're already grouping up

by what they're interested in. But then the question is, how do you earn their trust, not their attention, but their trust? We must begin by making small promises and keeping them, making them for people who are open to being able to trust us, not hustling people and showing up with giant flat belly diet, instant overnight, let's change everything promises. But small groups of people, the smallest viable audience, show up and say, I'm going to offer you this, and then do it, and then do it, and then do it, and then overdo it. And if you do that, they learn to expect it from you.

That is what a brand is. A brand is an expectation, not a logo. And so you have this opportunity because everyone starts with almost nothing. Everyone starts small. Who will you start with? And how can you do something with and for that person that they will tell the others? Yeah. Let's stick into that concept of a smallest viable audience.

I know it's something that you talk often about. Tell our listeners what that means exactly and how they can recruit a small as viable audience. Well, there is a conditioning that the only way to win is to win, win, win, that you want the biggest possible audience. That if you listen to the hype and you read the business plans and, you know, I'm going to crush this and we're going to revolutionize that. But that's never, never how it actually works.

that the way it works is you find the smallest group of people who if they trusted you, it would be enough. And then you overwhelm them with delight. Because if you overwhelm that small group with delight, which you can do because they all want the same thing, they will tell the others. So name any brand you want. And I will tell you how they did that. Because Starbucks or Supreme or JetBlue, I don't care which one you name.

That's how they did it. The smallest group that could sustain them, and then they delighted them. Even Google, even Facebook. Facebook started serving 100 people. 100 Harvard students who needed a date. That was Facebook. That's all it was for. It didn't talk about what was happening in New Haven, and they didn't talk about

what was happening in the election. They talked about you're at Harvard and you need a date. Smallest viable audience. Could you tell us the use case of Starbucks and how they used that to grow? So Howard Schultz did not start Starbucks. Starbucks had two or three stores in Seattle, and you could not buy a cup of coffee there. They would only sell you beans. And Howard went to Italy, and when he came back, he had fallen in love with standing at the counter and drinking an espresso. And he couldn't find a place in the United States where he could do that. And he persuaded the people at

Starbucks to give him a chance. And so Starbucks began, really, began with one place in one little corner of one city where you could stand there and have an espresso. That's all it was for. And then the word began to spread and it began to spread. But it happened slowly compared to internet time. But Howard did not come back from Italy saying, I'm going to revolutionize the United States and caffeinate 100 million people a day. He came back and said, I need there to be a neighborhood espresso bar. If we think about Twitter, Twitter failed and failed and failed for a long time until they optimized it for one conference in Austin, Texas to make 500 people delighted.

That's all. That's all it was for. And it's hard to do this as an entrepreneur or a small business person because you think, not that's too small for me, but you think if I pick the specific people and I fail at that, then I'm really bad, right? that if no one had come to Howard Schultz's one and only espresso bar, he's toast, right? Yeah. If people at Austin, South by Southwest, hadn't used Twitter, they were going to go bankrupt.

You got to pick something and put yourself on the hook, because being on the hook is exactly where you want to be. Yeah, totally. And if you spread yourself too thin, you can't really maximize anything because it's like you're trying to chase two rabbits. You'll never catch either one as that old ad age goes. Well said, yes. We'll be right back after a quick break from our sponsors.

Young and Profiters. I know there's so many people tuning in right now that end their workday wondering why certain tasks take forever, why they're procrastinating certain things, why they don't feel confident in their work, why they feel drained and frustrated and unfulfilled. But here's the thing you need to know. It's not a character flaw that you're feeling this way. It's actually your natural wiring. And here's the thing.

When it comes to burnout, it's really about the time. type of work that you're doing. Some work gives you energy and some work simply drains you. So it's key to understand your six types of working genius. The working genius assessment or the six types of working genius framework was created by Patrick Lencioni and he's a business influencer and author. And the working genius framework helps you identify what you're actually built for and the work that you're not. Now, let me tell you a story. Before I uncovered my working genius, which is galvanizing and invention. So I like to rally people and I like to. to invent new things.

I used to be really shameful and had a lot of guilt around the fact that I didn't like enablement, which is one of my working frustrations. So I actually don't like to support people one-on-one. I don't like it when people slow me down. I don't like handholding. I like to move fast, invent, rally people, inspire. But what I do need to do is ensure that somebody else can fill that enablement role, which I do have, K on my team.

So working genius helps you uncover these genius gaps, helps you work better with your team, helps you reduce friction, helps you collapse, better understand why people are the way that they are. It's helped me restructure my team, put people in the spots that they're going to really excel, and it's also helped me in hiring. Working Genius is absolutely amazing. I'm obsessed with this model. So if you guys want to take the Working Genius assessment and get 20% off, you can use code profiting. Go to workinggenius.com. Again, that's workinggenius.com. Stop guessing. Start working in your genius. What's up, Yap, gang? If you're a serious entrepreneur like me, you know your website is one of the first

touch points every single cold customer has with your brand. Think about that for a second. When people are searching on Google, everybody who interacts with your brand first is seeing your dot com initially. But here's a problem. Too many companies treat their website like a formality instead of the gross tool that it should be. At Yap Media, we are guilty of this. I am really due for an upgrade from my website and I'm planning on doing that with framework this year. Because small changes can take days with my other platform and simple updates require tickets. and suddenly we're just leaving so much opportunity on the table. And that's why so many teams, including mine, are turning to Framer.

It's built for teams who refuse to let their website slow them down. Your designers and marketers get full ownership with real-time collaboration, everything you need for SEO and analytics with integrated A-B testing. I love that. I love testing and making sure that we've got the best performing assets on the page. You make a change, hit publish, and it's live in seconds. Whether you're launching a new site testing landing pages or migraine, your full.com, Framer makes going from idea to live site fast and simple. Learn how you can get more

out of your dot com from a framer specialist or get started building for free today at framer.com slash profiting for 30% off a framer pro annual plan. That's 30% off.com slash profiting. Again, that's framer.com slash profiting for 30% off framer.com slash profiting. Rules and restrictions apply. Hello, Yap gang. I know my young and profiting listeners want bigger businesses and a better life. And the New Year is the perfect moment to reset and commit to your growth. But let's be real. You can't build an empire if your finances are all over the place.

That's why getting into it QuickBooks is one of the best first moves you can make this year. They've got powerful money management tools built right into their platform. And they have them for every stage of your business, whether you're a solopreneur or a small business. And I love that QuickBooks helps you get paid faster, pay bill smarter, and even gives you access to funding when opportunity pops up. So QuickBooks can help you with bookkeeping, can help you with getting paid, can even help you with projections and understanding where your business is at financially. Plus, QuickBooks Money Solutions reduces manual work by half and keeps your money and your books perfectly synced.

That means less time staring at spreadsheets and more time actually building the vision that you started with. That's the upgrade that every profiting entrepreneur needs. Start the New Year's strong, control of your cash flow with QuickBooks Money tools. Learn more at QuickBooks.com slash money. Again, that's quickbooks.com slash money. Terms apply. Money movement services are provided by Intuit Payments Incorporated, licensed as a money transmitter by the New York State Department of Financial Services. So far, we've heard great advice in terms of establishing our credibility and serving our audience. Now I want to get tactical in terms of how to communicate our products and services to convey their value and validate our

pricing in the market when we need to speak directly about our offering. I recently had everyone's new and favorite sales and marketing guru Alex Hermosie on the show for a two-part session. He talked to us about the value equation, which is something that I used heavily when promoting my LinkedIn Secrets masterclass that really enabled us to be successful by tapping into the natural tendencies of human psychology and buying behaviors. Okay, so let's talk about your value equation that you have in your book. You say there are four primary drivers of value. Can you break that down for us? Yeah. How is it that liposuction is $50,000 because that promises weight loss. And then an e-book on weight loss is five bucks. And it promises the same thing. And so if you think about this like a

fraction, the four, like so just draw a line mentally. The first one is the dream outcome. The higher and the cooler the dream outcome, the more valuable the thing you sell is, number one. Number two is the perceived likelihood of achievement. And I'll give you a clear example. So we'll use that liposuction thing. So imagine you've got a doctor who finishes medical school. And the day after they finished medical school, they put up their shingle and they say, I'm doing liposuction. And you've got another guy who's done 10,000 surgery of this particular surgery. Who are you willing to pay more for the same surgery?

The guy who's done 10,000. And I was like, what is that? That's perceived likelihood of achievement. It's risk factor. It's that when I pay this money, it's the likelihood that I'm actually going to get what I want. And even though, and this is a good one for everyone who's a service provider, the guy who's newer probably will take longer. So he's spending more time with his patience than the experienced guy, but it doesn't matter because

it's about the outcome and the perceived likelihood they achieve that. And that's why testimonials, having guarantees, things like that can increase the perceived likelihood of achievement. And if you add a guarantee, you can in a very real way increase your price because you have decreased their risk. So you maximize the first two, which is going to be the dream outcome is something they really, really want, and that you increase the perceived likelihood that they're actually going to achieve it. Now, the second half of the equation is the bottom side of the fraction. The goal here is to minimize these things. And the first half of my career, I spent all my time on the top side, making bigger, bigger promises, lots and lots of the testimonials.

That was all I did. And I think that's kind of a telltale sign of a newer market or newer entrepreneur. The businesses that are worth a fortune, they spend all of their time on the bottom side. Because the bottom side is usually the competitive mode. Anyone can make promises and anyone can show testimonials and things like that. But what people can't do is the bottom, which are these two things. Number one is time. And the second one is effort and sacrifice.

So time delay is the distance between when you buy and when you get. So if I were to swipe my credit card for a gym membership, it's going to take a long time for me to get the body that I probably want. Why does liposuction cost more? Because it happens way faster. You can get someone to lose 50 pounds in basically them going to sleep and waking up. Now, sure, there's pain, there's recovery, but it's still, they don't have to go to the gym, they don't have to change their diet. They don't have to sweat. They don't have to change their schedule.

They can still drink margarita. Like, you can do everything. And then in a day later, they're gone. And the marketplace values that in a very real way. You have to arm wrestle someone to get them to sign up for a $29 a month gym membership, but people will fork over 40 grand for liposuction all day long. And so it's because of the time delay. And so one of the easiest business strategies in the world is do whatever else is doing it

and do it in half the time. Just easy way to provide value and win. The fourth one is effort and sacrifice. So there are two sides of the same coin. Effort is things that you have to start doing that you don't want to do that you weren't doing before you signed up for the thing. And then sacrifice for things that you have to stop doing that you do want to do that you can't do it as a result of buying the thing.

So effort would be, I have to show up to the gym, the sacrifices I can't sleep in. The effort is that I have to eat chicken and broccoli. The sacrifices I don't get Taco Tuesdays. And so you have to give up, you have to make trades that people don't want to make as a result of the purchase. And so oftentimes, especially newer entrepreneurs,

if you can't give away your services for free, like people won't say yes to you, which, by the way, I recommend everybody, get your first 10 clients by servicing for free. But if people are not willing to work with you for free, It's because your price is not the most expensive thing that they are overcoming, the money, because there's additional costs, and many of them are time, effort, and sacrifice. If all of a sudden, as a result of this purchase, you have to meet with me three times a week,

you have to start recording creative and make ads and write copy and checking on campaigns with me, that's a lot of effort and sacrifice that I didn't have to do before. Versus, hey, pay us, and your phone's going to start ringing. We'll handle everything else, significantly more valuable. And so in a real way, businesses that can minimize the effort and sacrifice that their customers go through and deliver the promise faster and do it in a way that the person feels like there's almost no risk, that they're definitely going to achieve it. And it's something that they actually want becomes tremendously valuable. And so using the value equation will inform how you talk about your products. So it's like here's the dream outcome, which you can describe with them.

Here's why you should feel like it's very low risk to make this purchase. Here's what you can expect from a time perspective. and then this is the effort and sacrifice that goes into it. If we can explain the benefits of what we're selling using those four buckets, which I would highly encourage everyone to look through with those four checkmarks. If it's not doing one of those four things, you can probably cut it. When you do it that way, and then you dumb it down to a third grade reading level, because half of America doesn't even read above a seventh grade reading level,

you will get more people to buy. And so, like, the ultimate version of this is all those things maxed out, which is the most amazing dream thing that I know without a doubt I'm going to get that happens instantly with no effort. And I think the moment we can click a button and then a six-pack appears on our stomach, it would be an infinitely valuable thing. And so I think a lot of entrepreneurship is just going towards that ideal. And then that is really, it shows us that we always have more that we can improve on. Yeah. So another question that I have is that you use the word perceived. And I was curious about that. So why is it perceived the likelihood of

achievement, perceived time delay, perceived effort? Because if you don't communicate it, it doesn't matter. They will not perceive the benefit. Because all that matters is their perception because everybody's reality is, you know, whatever, I'm not even getting into that. But like, the point is, is like, they will not buy something they do not perceive as a benefit. And so the point of underlining their perception is that if we do not communicate it, they will not perceive it and they will not value it, which means you don't get paid for it. So if you do not communicate it, you ain't getting money for it. Yeah.

And so for each of these things, we have to communicate that thing. Otherwise, they're not going to perceive the benefit or pass. To recap, Alex has a formula to measure value that he calls the value equation, which guides the way he positions his offers in the market. The equation is dream outcome plus perceived likelihood of achievement divided by time delay plus effort and sacrifice. The goal is to increase the top of the equation while decreasing the bottom of the equation. For example, for my LinkedIn masterclass, I promoted that my students would 10x to 100x their LinkedIn engagement. That's their dream outcome. To show the likelihood of achievement, I use testimonials from my past Yap media clients that

showed proof that I've already done this for dozens of people. Now I also have the glowing testimonials from my first cohort that I can add to my promotional arsenal. At the bottom of the equation, I shortened time delay by stressing that you would learn what I learned in five years in just two days, that I had already done all the hard work and have packed all the information that I knew so you would learn them in just two days. and that these strategies would work immediately after class. In terms of effort and sacrifice, I pointed out that just two days of work could 10x or 100x

their results and they would be learning everything from copywriting to design to mastering the LinkedIn algorithm in a very high energy fun environment that makes class fly by and that you would be supported by your community and cohort throughout your LinkedIn journey even when class is over, you would have a support system. At the end of the day, your customers need to be convinced to make the purchase of the price you've established, and you can reduce any perceived risk by following the value equation to increase their chances of saying yes. And that's a wrap for today's yab snacks on how to attract, keep, and convert your customers.

If you like this yab snack, be sure to check out all of our full interviews featured in today's episode, number 155 with Kelly Roach, number 152 with Jay Abraham, 87 with Seth Godin, and number 198 and 199 with Alex Ramosey. What did you think about this episode? If you learned something new, tell us your main takeaway by leaving us a review on Apple CastBox, Spotify, or your favorite podcast platform. You guys can also find me on social media. I'm on Instagram at Yap with Hala or LinkedIn.

Just search for my name. It's Hala Taha. Big thanks to my amazing YAP team. This is your host, Halitaha, signing off.