SHOW NOTES

What’s all the fuss around micro offers these days?

Maybe you’ve heard them called something different – a tiny offer, a micro product, or a self-liquidating offer (or SLO).

They are one of the hottest strategies that can 100% pay for your ad spend and rake in tons of high quality leads right now… but only if you do them correctly!

That’s what I wanted to share with you in today’s episode of The Hirsh Marketing Underground Podcast. 

Tune in for a quick lesson on:

  • The biggest mistakes people make with SLO’s and what NOT to do
  • How to leverage a SLO to bring in quality leads
  • The tools you need in place to create a successful SLO
  • How to pump your SLO full of value

As always, feel free to share your thoughts and takeaways on today’s episode with me over on my Instagram and tag me @emilyhirsh!

P.S. Next week from July 21st-23rd I’m hosting a special limited podcast pop-up series where I really dig in and expand on self-liquidating offers and provide you with all the tools and strategies you’ll need to create one for YOUR business. 

If you’re ready to create a SLO funnel that will pay for it’s ad spend, become insanely profitable, and rake in loads of high quality leads, head to monetizemyads.com to sign up! You only have until July 20th to sign up, and once you do you only have until July 27th to listen because I’m taking the episodes down FOREVER after that!

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Emily Hirsh: 

Hello, everybody. Welcome back to the podcast. I hope you guys are having a great summer. I am currently recording this, I am in California. And so we came here for a month with my kids for like four and a half weeks, and my husband only came for part of it. Poor guy, he’s like missing us so much right now. We’re actually like eight, our first week of being here. We’ve been here for about a week and he’s like, “I thought I was going to be super productive, but I’m actually kind of just depressed that you guys aren’t in the house. It’s so weird.” And so he might come earlier. I don’t know, but the deal was when we moved to Texas that I was not going to do the whole summer there because it’s so hot. And so I come to California for as much as I can, and I brought my three kids on my own, and I hired a nanny here, and it’s going pretty well. 

So I’m grateful to be out of the Texas heat. I look at the weather there and I don’t miss it right now. We’ll see if I miss my house by the end of it. I love Texas all the other months, but not when it’s a hundred degrees out everyday, all day. So anyways, I hope you are all having a great summer and I’m excited today – I always say that cause I’m always excited – but truly I am very excited today because of a couple of things. 

One, I’m very excited overall because Team Hirsch just literally finished our best month in business for the whole year. So that’s awesome, especially during a time of, you could say economic turmoil, definitely likes society turmoil. But that’s super awesome, and I’m very proud of that. And across the board from retention rate to client, new clients signed to our actual Ignite course sales. Like, everything did so well and, and  worked so well together, which is just so rewarding to see how much hard work we put in to all of those things just pay off. 

Also I have a super exciting thing that we’re doing and launching next week, and that is a private popup podcast series. So basically, you will sign up and get access to a private podcast feed so it’s not a public feed. And we will be releasing three episodes all about micro offers. So it’s called all, it’s all about micro offers, it’s: Low Ticket High Reward And How To Turn Your Micro Offers Into Macro Profits. So if you’ve heard it, other ways of saying it would be a SLO (self-liquidating offer) funnel, a tiny offer, micro offer, mini offer, like people are calling and all that.

It’s those small $27 products that a lot of people are having a ton of success with out there right now, and I’ll be teaching in this private podcast series how to pick the product, like use it strategically in your business, how to run ads to it, how to make the most money out of it, with it. We have one of those in our own company and then we have several clients with them. So I have a lot of data backing, and in each episode I actually do an individual case study with my team. I interview a different team member each day to go through an actual real life funnel, real stats and strategy. So if you go to monetizemyads.com, you can sign up for this podcast series. And then on the 21st of July, the first podcast series drops and then the next day, the next one drops, and then the third day, the next one drops. And so you sign up, you get our private feed link and then all of those days the episodes will drop and they’ll be available through July 27th. How fun is that? I’m so excited!

Not only should you sign up too, because the content is super awesome – I’ve actually already recorded it and got a workbook, bonus Q and A’s, lots of fun stuff. But also like, don’t, you want to be a part of such a cool thing? We have strategized this and this kind of strategy over the last probably six to eight weeks, and I have to give credit here. My friend and also our client success specialist, Aandra, who talks to everybody before they come on to work with us, came up with this idea. And then we’ve morphed it into more, but the private podcast feed, it was her idea to do it publicly like this, and I think it’s just brilliant because people love to consume content with podcasts. And so we made this really cool thing. So if you go to monetizemyads.com, you can sign up so that you get access to that private feed and you can get access to those private episodes when they come out all about micro products, slow funnels, how to do them, right? 

Which, I’m talking about those a little bit in today’s episode. Not going to give away what I’m sharing during the podcast series, but I do just want to talk about them in general and talk about this strategy that will pay for your ad spend, when it’s done right. I also want to talk about how people are, a lot of people are doing it wrong. I did not create this strategy, and it’s very obvious when you scroll the feed that it’s already out there and it’s very hot right now. It does convert. Now it is out there and hot right now because it works, and it works because it’s a very low barrier entry for people and typically the products people put out there are very high reward. So they get results fast, they solve a problem fast, and it’s really working for people. But I do think people are making a mistake where they are looking at this right. So that’s what I want to talk about today. Just to give you that knowledge and get you kind of excited for the podcast series coming up. 

So first of all, this is the strategy that can pay for your ad spend when done right. A self liquidating offer is meant to do just that – liquidate the ad costs to pay for the leads and then drive them to higher priced and leveled products and services. Okay, ao when done, right, this can pay for your ad spend because you have a $27, $37, $47 product and you drive traffic to that, and then you pay $27, $37, $47 to acquire a customer. They buy upsells and then you’re profitable. 

Okay, here’s where people are messing up. People think because this is being taught out there, and because they see others doing this successfully, people think that the actual strategy and the profitability, and like end all be all is the SLO funnel itself and that’s what’s going to make them the millions of dollars, and that they have to do it, and then to get the upsells and they go and try and copy other people’s or use other people’s templates. That’s all great, but where they’re making the mistake is, in my opinion, a SLO funnel is a form of lead generation. A SLO funnel falls into that category of getting quality leads while also mitigating your ad cost expense, which is great, but it’s not like the end all be all.

You have to have a backend strategy and foundation for it to make sense. So that’s where I think people are kind of making the mistake right now and not seeing the results that they want to because yes, a SLO funnel can be profitable. Ours in our company makes about two and a half times return on its ad spend, which is great, but that’s not even why I made it. I made it to get quality leads in to get into our application, to work with us  as a client, like that’s the big strategy. So there’s a backbone strategy to it that greatly increases its ROI when you consider the clients that we signed from it, and that’s what people are missing. 

And so if you know, The Hirsch Process, you know step three is lead generation. Step three is getting in like those email leads, right? And then you send those email leads to an offer. So they maybe go through a webinar, then they go to an offer. Well, a SLO funnel and a self liquidating offer, it’s even though you’re asking for somebody to pay for something and you’re charging money, you still would categorize that in the lead generation phase. And it would basically do the same thing as a webinar potentially could, okay? Because you’re trying to bring leads in and you’re not profitable off of that first step. You’re not profitable off that first offer. You’re maybe profitable off the upsells, but really you’re trying to bring quality leads in to send them to your higher price point products. And the reason why they’re more quality is somebody who buys something from you in the first place is going to be so much more likely if they had a good experience to buy something from you again, okay? 

So for me, if I bring somebody in – and our SLO funnel is a toolkit – if I bring somebody in and they buy the toolkit and they’re like, “This is amazing, these tools are so brilliant. I wonder what else this person can do for me and sell for me?” because they had such great quality here. They’re going to be more likely to then come back and be like, “Oh, let me sign up for this, or buy this or do this,” and be a much more quality lead. Especially since they already spent money. There’s several studies that show that people who buy something once from you and have a good experience, most likely buy something else from you. If you have the right offers, okay? 

So SLO funnels are amazing. They can pay for your ad spend while bringing in quality leads and minimizing that risk with the quality leads because they can pay for your ad spend, but you have to shift your perspective and look at a funnel like this as a bigger picture. Oka, how do we bring in quality leads to then drive them to the next thing? So you can use a funnel like this, where you’re using a small price product, $27, $37, $47 and then you’re actually sending those leads to a webinar or to your application for high ticket sales, or maybe it is to higher priced products. And then you go up to a $500 product or something, or a membership site, or whatever it is, and you actually use those leads to send them to something on the backend. That’s where the true success comes in. And that is why this is working so well for our clients because we’re using it as a piece to the bigger puzzle. And I think that’s what people are definitely missing when I speak about it out there. And I hear people talking about this because the SLO funnel itself is not the end all be all. It’s a strategy that can get you quality leads and pay for your ad spend and potentially be profitable, when done right. 

Now, there are specific structures and strategies you should follow with this, for it to be successful. And I’m going to go into way, way more detail about this in the podcast series, ‘cause it’s three full podcast series episodes all about this – about what to offer, how you should consider it in your business, what you should charge/pricing your ads, and then we’ve got the case study examples. But one thing is, there’s a specific structure that you need to follow starting with – and I go over the structure in more detail – but the first thing you start with is the tools. And so you have to give people like something… the sexiest offer, the thing that if they buy it’s a low risk, no brainer price, and if they go and buy it they will be able to go implement it right away, see results, you know, gain back time, gain more money, whatever your promise is very quickly. And they’ll get that very high reward. 

So thinking about buying it is a no brainer for them because it’s so valuable, and so that’s the other piece. When you create these, one: you have to follow the format of starting with giving away the first or selling the tools first, and then going into your other pieces in your other products. And I walk through kind of how to look at that. You might even already have something that you could easily turn into a SLO funnel because you just pull out a piece of one of your bigger products. I mean, that’s what I did for mine. I pulled it out of Ignite, bundled together some tools, and sold it. Like truly, that is exactly what I did and I pulled out the tools first. And so there’s a specific order that you should follow to get success, because I’ve seen these work and I’ve seen these not work, okay? 

The other piece here is that it has to be extremely valuable and, and be like a no brainer. Like, I know people joke around they’re like this is $27 valued at $5,000. Like, no, but really it has to be very, very valuable where you could sell it for three, four, five times the price that you actually are selling it at. And that is part of it too, because that will make the offer feel like a no brainer offer. 

Now here is why I am excited about SLO funnels, okay? One, because I’ve seen them make a lot of money, but also I’ve seen them really support and contribute to a bigger picture strategy, and right now I feel like people are buying these type of products because of where the economy is. They are choosing like very low risk purchases to build trust with that and then they’ll buy the higher ticket. Which I actually will go into more detail on this and on this podcast, and in another episode I just about the economy and what it means for your ads right now. But I’ve seen sales go up since COVID started in these types of mini products, because I think, my theory is – I’ve definitely like for sure seen them go up – but my theory to why is people are have time to go implement the tools that they’re buying, but also they’re low risk and they have a high reward. So if you go implement the tool that you bought, you’re going to get a result from it, and people have time to do that right now, or they’re forced to do it. They have no other option, but to do it. And so it’s a great way to build trust so that people actually want to buy more of what you offer and your higher ticket offers, okay? 

The other reason I’m excited about these is I have been kind of like crapping on paid challenges in book funnels for awhile, because for the last like year, definitely with the paid challenges – I’ve had specific podcast episodes about this – I mean, they don’t work and there’s been pretty, you know, high influencers out there who teach like a free plus shipping book funnel, and they might have a successful one. And then they talk about how it’s successful and then a bunch of people go out there and think like, that’s what they need to create. Same with the paid challenges, like a group of people who had a big following did that successful, and then a bunch of other people tried to copy it and also make it successful. And here’s why it doesn’t work, but why the SLO funnel does – because a book … Look, unless you have a massive audience and you have name recognition with your book, it’s not valuable enough. Like this is kind of mean, but people don’t care about your book if they don’t know who you are, maybe because of the content in it, but there’s literally thousands of books and so it’s just not valuable enough for somebody to put that up front cost and buy something when they don’t know who you are. So books don’t work, but they do work for somebody who has a big name, like Russell Brunson. I mean, we all know he’s like king of the free plus shipping book funnel. And I’m sure it’s extremely profitable for him, but that’s because everybody knows who he is. And he wrote these amazing books and they’ve, you know, bought the other ones before. It doesn’t mean it’s going to work for even myself who I don’t have a following of millions. I don’t have a name. I have a warm audience, but it’s small. So I could initially launch it, but it’s not like going to be my main funnel that’s going to make me all this money because it’s just not valuable enough of an offer. 

Same with paid challenges. There’s way too many free challenges out there for someone to want to number one, make the investment in a paid challenge. But two, the time. Like with the paid challenge you’re asking somebody not only to pay you upfront without even knowing you and trusting your brand and your advice, but also set aside the time to go through a challenge. The idea behind both of these is you pay for your ad spend and you’ll get a quality lead in. And especially in the paid challenge, like the why it works is you sell those people who paid for your challenge into your higher ticket offer and you have this amazing sales conversion because they’re really quality leads because they paid you. And they, you know, they started out by  paying you versus just opting into something for free, which the theory of is great, but the initial offer is not good enough. And so therefore people don’t do it. It doesn’t convert to cold traffic for, for most people.

And that’s why this self liquidating offer funnel when you do it right, when you follow this process that I lay out in the series and talk in more depth about it works. Because the offer is so attractive and because the offer actually solves an immediate problem and is a no brainer purchase for the lead that cold traffic will take action and buy what you’re offering. And so that’s why the whole concept of challenge funnels and book funnels, and really even tripwires is to – tripwires is an offer on the thank you page – is to pay for your ad spend and create this quality lead. And so the concept is great, but I have never seen it work as well as I have with self liquidating offer, like tiny micro offer products, because  the actual initial offer was never is not good enough, and so there’s a method that we’ve proven over and over to follow in the way you lay out your products, way you price your products and the way you fit the puzzle of your SLO funnel into your bigger picture and when done right, this strategy will pay for your ad spend and get you higher quality leads that will then hopefully buy your backend by your next offer. Whether that’s a thousand dollar course, whether that’s an application to work with you with your high ticket services or your high ticket program. 

There’s several different ways you could do it, which again, I will go over in much more detail in the, in the series. But today I want to get you guys thinking about implementing this in your business and creating some sort of offer around this in your business, and the reason is because I’ve watched it work for myself and for dozens of clients. So it’s something that we are recommending a lot right now, because I also think purchase actions by consumers and business owners, but people buying from you out there today have changed a little bit in the last six months where people really want these like sexy mini offers and that, therefore, creates really quality leads. 

So if you want to listen in way more detail about how to set one of these up, how to really strategize the ads and the retargeting ads and all of the pieces of your micro offer, micro product, go to monetizemyads.com. The first episode releases on July 21st and just go sign up because also, I just want you guys to see what we’re doing ‘cause I’m so excited. I’m mostly so excited about that, like I’m so excited about the content that we put together. I put hours and hours into like strategizing that content, breaking it out for you guys, recording it and just making sure it’s very dense content. You guys know me  if you’re a regular listener, but also it’s so fun because it’s just so cool, like a private podcast feed, and we’re going to have a podcast up for a certain amount of days and then it will disappear after that. So it’s, it’s just super fun and I’m excited to roll it out and then to actually test it on our clients to see if it works, because I think just audio and podcasts are such a great way for people to consume content. And so that’s kind of what we’re testing out. And so of course on here, I’ll share the results for you guys after we’re done with this little mini launch, but  go to monetizemyads.com for now and tune in to the podcast series dropping in just about a week.