Making Money via the Ascension Ladder
while we're on the topic of making money, let's talk about an advanced topic of the ascension ladder. Now, this is only going to apply to you once you already have your topic wheel in place, you have a lot of one minute videos you have, why, how and what content. You have your plumbing in place and you have your machinery that's already working and generating some amount of cash for you, this is advanced, so if you have not started building your personal brand, these particular items in the ascension ladder, maybe a bit overwhelming for you. So I would recommend that you go back to getting your initial one minute videos, building up your network, building up your interviews and getting all these other items in place. If you do have these items in place, let's talk about how you can start to really scale up your brand. Now, you may have heard of funnels and some people will talk about funnels in terms of a three stage funnel, like awareness consideration conversion, which is what facebo...
ok, google linkedin, Pinterest, all these other guys use the exact same terminology, You may hear other people talk about the eye to funnel, you may hear it explained as why, how and what like we do, you may hear know, like and trust, but if you really want to build relationships, you're going to understand the journey as a funnel that moves through these particular six phases and it starts this way step one is unknown gated content, that's the content that you've been publishing out there, that's completely free. No one has to put in an email address to get it. It's just a negated right? You go live on social media, you post a status on linkedin, you're on someone's podcast, You put stuff out there for your Youtube channel, provided. It's not like the paid stuff and it's just a gated content, that's most of your content. If you're an info marketer, if you're a personal brand, if you're a author speaker coach, you know that the majority of your content is going to be a negated and in fact the best content is actually your free content. Most people don't know that, right, because how else are you going to pay for your stuff unless they see your best stuff first. So that's your base of the pyramid, if you will. Right, The undated content is the bulk of your content because that's the entry point that people are ascending in this ladder. You can also think of this ladder is like an escalator that's going down and you're trying to get people to walk up. So it takes a lot of power to get people to go up because a funnel kind of assumes people naturally just fall down through gravity and they convert, that's not the case, we've got to generate enough energy and momentum to be able to move up. So from the un gated content, you're providing enough value across the spectrum of your topic wheel that you can then say, well, if you really like that, give me your email address and I'll give you this 10 page guide on how to do such and such. Or I've got a seven day challenge and each day I'm going to give you this new challenge because by the end of the seven days you will have done this right. You can take any kind of checklist any combination of content and you can put that into your lead magnet which is step two. Think of undated content is stuff that is shorter and free. Maybe it's just a simple post. It's a picture. It's a couple of tips. But something that requires more than five or 10 minutes. You're gonna call that a lead magnet where it's worth it for them to fill out a facebook lead, add to fill out an email forum to install an app to do something where they're getting the content which is still free but they have to do something to get past the gate. There's enough trust in your own gated content to get them to that next phase. Then from a lead magnet you have their email address or they've download your app or you have their phone number right? A sweepstakes is an example of, of gated content that that's a lead magnet. You then want to be able to get that initial dollar for them. So remember the power hour, which is a way of getting initial consulting where they're paying you a couple of dollars that's called a trip wire. So a trip wire is one step above a lead magnet because you're trying to get a symbolic dollar from them or $97 or whatever that prices. You're not trying to maximize your profit off of the trip wire. The trip wire is just to get them to where they had to decide That your stuff is good enough to pay even a penny for it. And I would argue free trial software, let's say you have you have a software company. Even a free trial software is still a trip wire because the consideration to be able to install and configure and whatnot with the software is like the equivalent of paying like $20. There's as much consideration if not more. And the trip wire that the balance on pricing is such that It's low enough that it should be an easy decision. It should be like a slam dunk thing. So one of the things we offer for black Friday is for $297, you can get all of the training material that we've ever created, all the choruses, all of the presentations, all the proposals, all of that kind of stuff. Is that worth $297 to a digital marketing agency or social media advertiser or agency. Absolutely right. And we say that's worth $15,000 but it's to 97. So we're not trying to maximize the profit there where we want to create what's called a self liquidating offer. Self liquidating means that whatever money we're spending in advertising to promote the trip wire covers the cost of the revenue generator covers the cost of all the marketing to be able to generate that. So it's revenue neutral. Why? Because from the trip wire we move them up into the core offer. So your core offer is your bread and butter. People have gotten so much value out of your trip wire there thinking, wow for $79 if I got all this, imagine what happens if I paid $1000 or $500 or whatever that next tier is for the next item. And a lot of folks will say business owners, small business marketers say, well, why am I going to go through all this effort to be able to go from the IAN gated content to the lead magnet to the trip wire to the core offer. It's because this actually this gradual stepping is going to generate more sales than trying to get someone to go from here all the way up to climbing over a 10 ft wall in one bound, right? So unless you're wonder woman people are going to need a gradual stair step approach. But that means you need lots of assets that are organized along the way properly categorized so that, you know, if there's something you have like an hour of consulting of your time or a particular package of what you offer or an info product or whatever it is that you do as your core thing. If you're a mortgage broker you can still do the same thing. So what's your core offer? You're going to help people get alone and save money so they can afford the best house they can or whatever it is right that everyone understands kind of what their core offer is the main thing that they do. But what's the thing that I can charge just a little bit for like maybe some kind of assessment and what's the thing I can provide that's free but requires an email address. Maybe eight things you need to know about living in Minneapolis or whatever it might be right. What what are, what are things along the way that I can provide value so that I can gradually step them up to the core offer which is the main thing that I sell from the core offer, you can move to the package or to the Upsell or whatever it is that you have as a premium. Often if you are going to a conference, maybe you paid an initial admission fee maybe it's you know $100 to get in but then they try to sell you on this $1000 V. I. P. Package, right? That's an example of an up sell and Upsell is something That is usually 3-5 times more expensive than the core offer. Now the thing that balances out this funnel or this ascension ladder is the trip wire, remember the trip wire is the thing that people are paying some kind of nominal amount, but they're still paying for something because the trip wire, when it's properly balanced is revenue neutral? Everything that you have beyond the trip wire becomes pure profit and it gives you the maximum number of people of potential paying customers up to this point. This gives you leverage because you're getting as much as many people as possible in a revenue neutral way, understanding what content they're resonating on, understanding what people are willing to pay for that. You can then launch multiple products on top of that. Even if you're one person, you can actually launch multiple products on top of this. Look at Brendan Bouchard, look at jay Abraham, look at anyone, you know that is a is a prolific author speaker coach, they may have an initial book that people come in on like Brendan Bouchard with his high performance habits or Tony Robbins with you. No U. P. W. And then they try to sell you on a much higher priced tier. It's not just for author speakers and coaches, it's for anyone that's selling any kind of products. Think about video game manufacturers, they get you in on the console for something cheap but then they make money on all the modules, right because once you're in then it's easy to sell you on all these other items to populate your ascension ladder. Take all the products and services that you have from your core offer to some kind of premium items all the way down to items that are free and your trip wire and balance out those products with the content that you need along the way to be able to sell them. That's how you have an ascension ladder that maximizes your revenue based on your personal brand, because people are coming in on the outside of your topic will which is the bottom of your ladder and moving all the way up based on what is converting based on where you're providing maximum value, you're going to find that certain pieces of content absolutely resonate. That's a good signal for what items should also be products that are inside your ladder. Next step, fill out your ladder here with this exercise and then associate the content with the products that you have to offer.