$100M Offers Audiobook Part 7 Ep 585

Summary Notes


In the final episode of "100 Million Dollar Offers," hosts discuss the importance of naming offers to attract the right customers and the nuances of execution. They emphasize how a well-named offer can increase sales and refresh fatigued offers in local markets. The episode covers the MAGIC headline formula—Magnet, Avatar, Goal, Interval, Container—to create compelling names and maintain lead flow by varying ad creatives, copy, and offer details. Alex Hermosi shares his personal journey of reaching his first $100,000, highlighting the emotional relief and sense of security it brought. The summary encapsulates the journey from creating a valuable offer to achieving financial success, emphasizing the importance of perseverance and the impact of precise offer naming on business growth.

Summary Notes

Introduction to Final Episode

  • The final episode covers three chapters: naming, execution, and closing credits.
  • Naming is emphasized as a critical component for businesses of all types to attract the right customers and increase profits.
  • The importance of naming is applicable to local businesses, ecommerce stores, software companies, service providers, and more.

Welcome back to the last episode of 100 million dollar offers. We're covering three chapters today, naming, execution, and closing credits. Naming is going to be the biggest heater here.

The quote explains that the episode will focus on three key areas, with a special emphasis on the importance of naming in creating successful offers.

Chapter 14: Enhancing Offer Naming

  • The "implicit egotism effect" suggests people are drawn to things resembling themselves.
  • A "magic headline formula" is introduced for creating compelling offer names.
  • The effectiveness of an offer is contingent on people discovering and acting on it.
  • Proper naming is crucial for attracting ideal prospects and prompting action.

Implicit egotism effect we are generally drawn to the things and people that most resemble us. Magic headline formula like the tree that falls in the forest that no one hears having a grand slam offer will not make you money if no one finds out about it.

This quote introduces the concept of implicit egotism and the importance of visibility and proper naming for offers to be successful.

The Importance of Offer Names

  • Different names for the same offer can yield different responses.
  • Offer fatigue can occur over time, especially in local markets.
  • Renaming offers can refresh them and continue to generate leads.

Say you see a free six week stress release challenge and a float tank center session. While they may be the same thing, just named differently, you're much more likely to respond to the first.

The quote illustrates how different names for the same service can significantly impact customer response.

Local Market Dynamics

  • Reaching a local market can be cost-effective.
  • Audience reach does not equate to offer fatigue; repetition is necessary.
  • Offers should be refreshed with new creative elements and occasionally renamed.

In a local market, it costs relatively little to reach an entire population... That's why you need to create new creative videos and images and new hooks, stories, and copy around the same offers.

This quote explains the strategy for maintaining offer effectiveness in local markets through creative marketing and occasional renaming.

Renaming Offers

  • Renaming is about changing the "wrapping paper" not the actual offer.
  • The core services or products remain the same as the offer name changes.
  • Renaming can sustain lead generation over time.

So pay attention. We are not changing the actual offer, we are only changing the wrapping paper.

The quote emphasizes that renaming offers is a strategy to refresh the presentation without altering the underlying product or service.

Magic Headline Formula

  • The formula consists of Magnet, Avatar, Goal, Interval, Container (MAGIC).
  • Not all components are mandatory; brevity and specificity must be balanced.
  • Testing different names is essential to find what works best.

Magic headline formula Magic M for magnet a for avatar, G for goal, I for interval, c for container. Important not all these components are mandatory.

The quote introduces the MAGIC formula as a guideline for creating effective offer names and notes that not every component is always used.

Detailed Explanation of MAGIC Components

  • Each component of the MAGIC formula serves a specific purpose in naming offers.
  • The components translate to attention, discrimination, purpose, timeline, and method.
  • Examples are provided for each component to illustrate their use in offer names.

Each roughly translates to attention for magnet, discrimination for avatar, purpose for goal, timeline for interval, and method for container.

This quote breaks down the MAGIC formula into its components and their respective functions in crafting offer names.

Marketing Theory Behind MAGIC

  • The components of the formula are grounded in marketing theory.
  • The "reason why" component can be any compelling reason for a promotion.
  • Specificity in identifying the target audience (avatar) is crucial for conversion.
  • Articulating the dream outcome (goal) makes the offer appealing.
  • Time interval conveys the duration for expected results, with compliance considerations.
  • The container word suggests a comprehensive system or bundle.

Let's start with m. Make a magic reason why we start the name with a word or phrase that tells people the reason why we are running this promotion... Announce your avatar. This component calls out your ideal avatar... Give them a goal... I indicate a time interval... C complete with a container word.

The quote provides an in-depth explanation of how each component of the MAGIC formula is used to create compelling offer names.

Pro Tips for Effective Naming

  • Rhyming can make offer names more memorable.
  • The process involves combining creativity with marketing principles.

Pro Tip find time to rhyme good rhymes stick in.

This quote offers a tip for making offer names stick in people's minds by using rhymes.

Rhyming and Naming Programs

  • Rhyming can make program names more memorable and engaging.
  • It's not essential to rhyme, but it is a "nice to have" feature.
  • Examples provided illustrate the use of rhymes in program names.
  • Rhyming should not be forced; it should come naturally.

"Program name to win the game."

This quote emphasizes the importance of a catchy program name in engaging potential customers or clients.

"It's not a requirement, it's just a."

This quote clarifies that rhyming is not mandatory but an additional, beneficial feature for naming programs.

"Nice to have example six pack fast track five day book print sprint marriage thrive deep dive twelve week two putt shortcut twelve month no debt reset celebrity butt shortcut get some ass masterclass just thought it was funny, et cetera. You get the idea."

This quote provides various examples of rhyming names, illustrating how they can be used creatively to enhance the appeal of different programs.

Alliteration in Program Names

  • Alliteration involves starting words with the same letter or sound.
  • It is an alternative to rhyming and can be easier for most people.
  • Examples demonstrate alliteration in program names.
  • Alliteration should not be forced but used where it sounds better.

"Alliteration is where."

This quote introduces the concept of alliteration as a naming strategy.

"You make all or most of the words start with the same letter or sound."

This quote defines alliteration and its role in creating catchy program names.

"Example make money masterclass change your life."

This quote provides examples of alliteration in program names, showcasing the technique's effectiveness.

Changing the "Wrapper" of Offers

  • Changing the "wrapper" means altering the external perception of an offer without changing the core service.
  • The actual money model, pricing, and services remain largely unchanged.
  • The goal is to make the offer seem unique and desirable.

"Changing the wrapper simply means changing the exterior perception of what your grand slam offer is."

This quote explains that altering the "wrapper" refers to changing how an offer is presented to the public, not the offer itself.

Naming Offers for Different Industries

  • Offers should be named in a way that resonates with the target market.
  • Examples are given for wellness, dental, and coaching industries.
  • Naming offers involves creativity and understanding the industry's audience.

"Wellness free six week lean by Halloween."

This quote provides an example of a creatively named wellness offer.

"Celebrity smile like way moms one $500 off your kids braces like way moms twelve."

This quote offers an example of a named dental service that appeals to a specific audience.

Testing and Optimizing Offer Names

  • Use the best names in advertising campaigns to identify the most effective one.
  • Continuously test new names against the control.
  • Some offers will naturally perform better than others, and it's important to keep experimenting.

"Quickly note the winner, then use that."

This quote suggests using the winning name as a benchmark for future tests.

"As a control to test against with new names."

This quote advises using the most successful offer name as a standard to compare new names against in advertising campaigns.

Offer Fatigue and Variation Framework

  • Offers may need to be varied over time as market tastes change.
  • The order of changes should start with ad creatives, then body copy, then the headline, and only as a last resort, the monetization structure.
  • Most of the time, only the initial items on the list need to be changed.

"Here's the order in which you will."

This quote introduces the sequence of changes to make when dealing with offer fatigue.

"Change things to keep lead flow consistent. First, change the creative the images and pictures in your ads."

This quote details the first step in the variation framework for refreshing offers.

Maintaining Offer Effectiveness

  • Changing the offer too frequently can create inefficiency and operational drag.
  • The entrepreneurial drive for change should be focused on the offer's presentation rather than its core structure.
  • Only make significant changes to the offer if absolutely necessary.

"Just rinse and repeat over and over again. This can be hard because we are."

This quote advises maintaining the same offer while only changing the presentation to avoid unnecessary complications.

"Entrepreneurs and we love change."

This quote acknowledges the entrepreneurial tendency to seek change but advises against it when it comes to the core offer structure.

Achieving Initial Traction

  • Start with the offer structure and headline that seem most likely to succeed.
  • Persistence is key; not all offers will convert immediately, but improvement comes with time.
  • Having multiple successful offers allows for flexibility and higher conversion rates.

"Try the offer structure and headline you."

This quote suggests beginning with the most promising offer structure and headline.

"Think has the highest likelihood of working."

This quote emphasizes choosing the offer that is perceived to have the best chance of success.

Marketing for Local Businesses

  • Local business marketing has its own set of challenges and advantages.
  • Trust in the familiar makes selling at higher prices easier in local markets.
  • Local marketing is easier to start but harder to maintain or scale.

"Local business marketing is both easier and."

This quote introduces the dichotomy of local business marketing being both easier and harder in different aspects.

"Harder than national level marketing."

This quote contrasts local marketing with national level marketing, highlighting the unique challenges at the local level.

Local Marketing Dynamics

  • Local marketing primarily relies on the immediate radius around a business.
  • Offer fatigue is a significant challenge due to the limited market size.
  • Continuous variation in offers, headlines, and creative is crucial for local businesses.
  • Skills gained from local marketing can ease the transition to national advertising.
  • Changing the presentation of an offer without altering its core value stack is a key strategy.

"The downside of local marketing is that offers fatigue rapidly because there is only a limited radius that a local business can serve."

This quote emphasizes the limited scope and the rapid fatigue of offers in local marketing due to the small market size.

"To rapidly vary my offers, headlines and creative when I had my local businesses was a cornerstone skill that made my expansion to a national level advertising much easier for me."

This quote highlights the importance of being able to quickly adapt marketing strategies locally as a foundation for scaling up to a national level.

Importance of Naming in Marketing

  • The naming of a product or service is crucial for attracting the right customers.
  • Poor naming can significantly reduce conversion rates.
  • A well-named offer can dramatically increase response rates.
  • The name should convey the offer's value and promise to the target market.

"We must appropriately name our offer to attract the right avatar to our business."

This quote underscores the necessity of proper naming to draw in the ideal customer for a business.

"Follow the steps here to name your product or service offering and watch the same offer get two times, three times or ten times the response rate."

This quote suggests that a well-named product or service can significantly boost the response rate from potential customers.

Enhancing Your Offer

  • Making an offer valuable involves breaking down services into components and reassembling them into a more valuable whole.
  • Adding guarantees can increase purchases and consumption of the offer.
  • Presenting offers with urgency and scarcity can heighten desirability.
  • Proper naming attracts the right prospects and repels undesirable ones.
  • The offer should contain a clear and understandable big promise.

"You figured out how to make your offer valuable, how to break your services into component parts, and how to rebundle them into more valuable whole."

This quote details the process of enhancing an offer's value by deconstructing and reconstructing its components.

"And now you've named your offer so it attracts the right prospects and repels the bad ones, all while containing a big promise."

This quote explains the outcome of naming an offer effectively: attracting suitable prospects and making a clear, compelling promise.

Offer Naming Resources

  • A proper product name communicates to the target avatar that the product is for them and solves their problems.
  • Acquisition.com provides training and a free naming formula checklist.
  • The resources are designed to improve sales and can also be applied to naming promotions.

"Naming your product properly helps your avatar know the product is for them and is valuable and will solve their problems."

This quote stresses the role of naming in signaling to the target customer that the product is designed to meet their needs and provide value.

"If you want to do this live with me, go to acquisition.com training offers."

This quote is an invitation to access live training resources for product naming, indicating where to find these resources.

The Journey to $100,000

  • The first $100,000 is described as challenging but essential to earn.
  • Personal anecdotes illustrate the emotional impact of reaching the $100,000 milestone.
  • The sense of relief and security upon achieving this goal is highlighted.
  • The story emphasizes perseverance and the belief that success is attainable with continuous effort.

"The first hundred thousand is a bitch, but you got to do it."

This quote conveys the difficulty of earning the first $100,000 but also its necessity.

"We could fuck up and not make another dollar for three straight years and still be okay."

This quote reflects the newfound financial security after reaching the $100,000 mark in personal savings.

Summary and Consolidation

  • A summary is provided to consolidate the information covered so far.
  • The back-of-the-napkin bullet list includes key points such as not being a commodity, choosing a growing market, charging a lot, and how to do so.

"In a nutshell, we've covered a lot."

This quote introduces the summary of key points discussed in the conversation.

"So this is the back of the napkin bullet list. To summarize what we've learned so far."

This quote indicates that a concise summary of the main points is being provided for easy reference and consolidation of the information.

Core Value Drivers

  • Four fundamental drivers that are essential to creating value.
  • These drivers are foundational concepts for building a valuable business offering.

four core value drivers.

  • The quote indicates a list of essential elements that contribute to the value proposition of a business or product.

Creating a Value Offer in Five Steps

  • A systematic approach to crafting a compelling value proposition.
  • The process involves a sequence of five distinct steps.

Five, how to create your value offer in five steps.

  • This quote outlines a structured method for developing a value offer, suggesting a step-by-step guide is available.

Stacking Value and Profitability

  • The concept of enhancing value while ensuring profitability.
  • Involves layering additional benefits or features to increase the overall value.

Six, how to stack the value, deliver it and make it profitable.

  • The quote emphasizes the importance of not only adding value but also doing so in a manner that maintains or increases profitability.

Shifting the Demand Curve with Scarcity

  • Using scarcity as a strategy to influence market demand in one's favor.
  • Scarcity can create a perception of increased value due to limited availability.

Seven, how to shift the demand curve in your favor using scarcity.

  • This quote suggests a tactic where limited availability is leveraged to make an offering more desirable, potentially increasing demand.

Decreasing Action Threshold with Urgency

  • Implementing urgency to motivate quicker decision-making among buyers.
  • Urgency can lower the hesitation or resistance a buyer might have towards making a purchase.

Eight, how to use urgency to decrease the action threshold of buyers.

  • The quote discusses the use of time-sensitive tactics to encourage faster purchasing decisions by reducing procrastination or indecision.

Strategic Use of Bonuses

  • Bonuses as an effective tool to enhance the attractiveness of an offer.
  • Carefully chosen bonuses can increase perceived value and demand.

Nine, how to strategically use bonuses to increase the demand of your offer.

  • This quote highlights the role of additional incentives in making an offer more appealing and sought-after by consumers.

Reversing Buyer Risk with Guarantees

  • Offering creative guarantees to alleviate buyer concerns and perceived risks.
  • A strong guarantee can be a decisive factor in a customer's purchase decision.

Ten, how to completely reverse buyer risk with a creative guarantee.

  • The quote conveys the idea of using guarantees to build trust and confidence in the product or service, thereby encouraging sales.

Entrepreneurial Skills, Beliefs, and Traits

  • Entrepreneurship involves acquiring a specific set of skills, beliefs, and character traits.
  • Self-improvement in these areas is crucial for advancement and success.

Entrepreneurship is about acquiring skills, beliefs and character traits.

  • The quote underscores the personal development aspect of entrepreneurship, emphasizing the need for continuous learning and growth.

Learning from High-Quality Sources

  • The importance of learning from experience and reputable sources.
  • Acknowledgement that not all advice, even from those more experienced, is beneficial.

Through learning from experience and or high quality sources.

  • This quote suggests that while personal experience is valuable, it is also important to seek out and learn from credible and high-quality information.

Dedication to Detail and Nuance

  • A commitment to understanding and conveying the finer details and nuances.
  • Belief that mastery of detail is what distinguishes the exceptional from the average.

Excellence exists in the depths of knowledge and nuances.

  • The quote expresses a philosophy that thoroughness and attention to detail are what lead to excellence in any field.

Entrepreneurial Impact and Responsibility

  • Entrepreneurs have a role in creating positive change and solving problems.
  • There is a sense of personal mission and dedication to making a difference through innovation.

It's up to us as entrepreneurs to innovate our way into a better world.

  • The quote reflects a belief in the power and responsibility of entrepreneurs to drive progress and address societal challenges.

Gratitude and Commitment

  • Expressing thanks to readers or listeners for their attention and engagement.
  • A promise of continued dedication to providing value and fostering trust.

I'm grateful for your attention. You could have given to anything, and you chose to invest it with me.

  • The quote conveys appreciation for the audience's choice to engage with the speaker's content, recognizing the value of their time and attention.

Scaling and Specialization in Business

  • Offers assistance in scaling businesses within specific industries.
  • Positions the speaker as an expert in taking businesses to the final stages of financial success.

Specifically, we help service education, training, consulting, brick and mortar, or niche licensing companies scale so profitably.

  • This quote indicates a targeted approach to business growth, focusing on particular sectors where the speaker has expertise.

Availability of Further Resources

  • Announcement of additional resources like books, audiobooks, podcasts, and videos.
  • Encourages the use of multiple formats for learning and convenience.

You'll also likely find it on mysite. Acquisition.Com next audiobook if you like listening.

  • The quote informs the audience about where to find further educational materials, suggesting a preference for multi-platform learning.

Invitation to Connect and Collaborate

  • An open invitation for businesses within a certain revenue range to seek one-on-one assistance.
  • Suggests a willingness to engage directly with businesses to support their growth.

And you'd like my help one on one scaling your business, go to acquisition.com.

  • The quote extends an offer of personalized help, indicating a readiness to work closely with businesses to help them scale.

Conclusion and Transition to Next Volume

  • Concluding remarks on the current volume and a transition to the next topic of lead generation.
  • Reiterates the hope that the content has been valuable and sets the stage for continued learning.

I hope you enjoyed the first volume. In my hundred million dollar series before we move forward into volume two, where we'll be focusing on lead generation.

  • The quote wraps up the discussion on the current subject and introduces the next focus area, encouraging the audience to continue their educational journey.

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