Part-time $40K Per Month Side Business

Episode #35 - Part-time $40K Per Month Side Business

Show Notes

  • Trent and Ryan, along with another business partner, have created a side business that brings in an additional $40K per month.
  • 20% of their revenue goes toward the cost of the tools used.
  • They use a Facebook Lead ad as their primary lead source.
  • They created 50 different ads with 10 different images, 5 different calls to action, and they identified the top three which had the best response rate.
  • They tested the ads using FixYourFunnel Sync.
  • Once someone clicks on the lead, they can opt-in to receive text messages.
  • They typically experience a triple rate of conversion in sales when people say “yes” to a text message.
  • Usually prospective customers are very interested if they are willing to text you.
  • Once they opt-in through a lead ad on FB, FixYourFunnel Sync pushes the lead into a CRM, and the CRM will push them into the appropriate campaign (whether email, phone, text, etc.).
  • Trent and Ryan have a 90 day sale cycle, so they will follow-up through a system that takes up very little time or resources.
  • Dan Kennedy says, “The worst number in business is one.” Meaning that you don’t want to only have one lead source. Trent and Ryan use two other lead sources.
  • They typically send an email and text on the same day so the prospective customer is more likely to respond.
  • Another aspect of the sales funnel is an automated webinar that runs every night where they can share their ideas and services right away.
  • They have two different webinars depending upon which lead source is unique to them, as one includes the price ahead of time and the other doesn’t.
  • Focus on “good is good enough” rather than perfection.
  • With this in mind, they started with one sales funnel and once it was producing good results, they moved forward with other funnels.
  • Are you using just one funnel or are you making one for each lead source? If you can make the same funnel work for all your lead sources and the message is congruent, you could use just one funnel.
  • Trent and Ryan use live text message engagement. They like to have the ability to text back and forth with their customers. The goal is to engage in conversation so the customer can say yes or no to the buying decision.
  • The goal is to get the prospect on a phone call with a salesperson to get them to make a buying decision.
  • You will sell in a different way if you have an on-line product that is a one time sale than if you are selling a life-time product or service.
  • You often need to adjust your business model as you go.
  • If you can wisely outspend your competition to get a customer you will win. (Dan Kennedy)
  • When you are curating your sales and marketing strategy, identify what tactics are necessary to make the sale successful.  Then go back to the beginning and ask yourself what you need to do up front in order to capture the lead in a way that will give you the ability to follow up with a prospective customer.
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