I like to read...
Especially physical books.
So do many entrepreneurs.
But, here's something interesting I've found:
Many people read, read, read... learn a lot... and never do anything different with their new knowledge.
Many highlight passages, and even take notes.
But, many never take action on their insights.
I don't know.
Maybe cause it's fun to learn, but no so much to implement?
Or maybe cause they're reading just to learn, and not to take action.
I don't know.
To me, neither of those make sense.
For me... when reading non-fiction, the purpose... the aim... is to learn something so I can change my behavior for the better.
If the outcome is not a change in behavior or action, then the reading is mere entertainment.
For me, non-fiction is not meant to be entertainment. It's meant to be growth, development, and improvement.
And in order to do that, it must be followed by action, implementation, execution.
Or, to say it another way...
When consuming non-fiction, the value is only extracted when the learning is translated into action.
It's all about what you do with what you learn.
With that, let's get to this week's goodies...
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MY FAVS THIS WEEK
- An Intro to General Thinking Concepts: “The Great Mental Models Volume 1” by Farnam Street (Book Summary)
Mental models are at the foundation of who we are. They impact how we see and interact with the world.
Therefore, I believe in the value of understanding, questioning, and developing better mental models.
This is a great summary of a fantastic book on this topic.
- A Guide to Knowledge Sharing for Successful Managers
If you have a team, you want them sharing ideas and insights. You want your people to feel comfortable sharing their discoveries, things they're learning, etc.
By creating a culture of sharing, you leverage individual learning into a tool to grow your entire team and organization.
- YOUTUBE: The prison of your mind
Watch this now. Seriously, now.
You'll thank me for it later.
Sean Stephenson -- may he rest in peace -- deliveries an inspiring and thought-provoking TEDx talk.
*After you watch this, I encourage you to spend a few minutes reflecting on the message shared.
🔥 IMPORTANT UPDATE:
The multi-day A-Z Copywriting Workshop is only weeks away.
Without question, this is going to be an absolute game-changer for you.
I believe this will be the most impactful training I've ever conducted.
Attendees are going to walk away with copy chops that put them in an entirely different league from their competitors.
You want to be there.
Seats are limited to just 250.
And this will sell-out.
So get on the Notification List now to be one of the first notified when registration opens in a few weeks.
🚨SWIPE OF THE WEEK
This week's Swipe File is of a full-page biz-op ad from about three decades ago.
You can't run this copy today. That's for sure. Not on any of the major online platforms, that is.
But, there are still valuable lessons for you.
Two, in particular:
First, notice how the opportunity is presented as simple, easy, and fast. With specifics. It's very attractive.
Second, notice the language used to give the prospect extreme confidence in the results: both, the section above the "What this system is not" and the guarantee.
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WHAT I'M TELLIN' MY TEAM
This week on our internal Team Marketing Training...
We went through an example of bad copy -- what you don't want to do.
It came from a VSL promoting a new software for graphic design.
I dissected the first few paragraphs for the team.
A couple of the lessons discussed:
- Lots of adjectives don't make for good copy. It makes for bloated copy, what feels like exaggerated copy. Verbs... action verbs... make for good copy. Movement.
- When adjectives are used, they should add some new piece of information or detail. Throwaway adjectives which add nothing new are a waste.
- Superlatives aren't persuasive (e.g. "The world's best"). They're what your prospect expects you to say. Present claims which are specific and tangible, and backed by evidence.
- Overreaching on your benefits only makes prospects question everything else you claim about your product/service. When you state a benefit, make sure it's specific, true, and believable.
🪰 "Be A Fly On The Wall As Todd Trains His Own Marketing Team Every Week"
See and hear everything Todd shares with this team -- every conversion tactic, copy hack, AOV booster, hook method, and more!
A question posted inside the E5 Nation Facebook Group...
Below is my response:
In 2021, customer acquisition is much more a game of economics than sales conversion rate.
It really always has been about economics; but, today... because of the growing cost of media, it's much more so.
Specifically, today... the ability to acquire new buyers at scale is more a function of Average Order Value than it is about having the highest possible sales conversion rate.
As I've said many times before: Sales conversion rate is just a performance metric. It doesn't determine whether you have an economically viable marketing campaign or not.
You can have a sky-high sales conversion rate and still be losing money.
Yet, you can have a low sales conversion rate and be banking serious profits on the front-end.
The only thing which matters is the cost to acquire a buyer and the value of that buyer.
Making those two numbers work is the priority. It's the entire game of acquisition today.
This means you have to do things to increase the Average Order Value enough to compensate for the increase in media costs. And sometimes, this may mean increase the price of your core offer... knowing it may decrease overall sales conversion rate.
In other words, to make the economics work, sometimes you need to sacrifice a bit on the overall volume of new buyers you're generating.
All this to say...
Stop focusing exclusively on sales conversion rate. And start focusing on increasing the value of a buyer.
NOTE: If you're not in the E5 Nation Facebook Group with us yet, you're missing out on the opportunity to have me answer your questions. Not too mention, some killer content and live streams only shared inside the Group.
Go here and join us inside the E5 Nation Group (it's FREE!).
Beacon is promoted as a "lead magnet solution". And it certainly can be used for creating and publishing lead magnets.
But, there are a lot of other uses for this tool. Like, creating handouts and workbooks for workshops, webinars, and live streams.
It makes the process super simple. All drag and drop. And lots of templates.
There's a free version if you want to try it out.
Only negative: the free version doesn't allow for PDF exporting. So it's limited.
The full version is $49 a month, I believe.
Little pricey for what it does. But, worth it if you want to streamline the creation of lead magnets, cheat sheets, checklists, that sort of stuff.
PIC OF THE WEEK
How many superstar online entrepreneurs can you recognize in this pic?
Take a second to look.
This pic was snapped a few years ago... at the original E5 Method Workshop I hosted.
It was the first time I publicly shared the entire E5 Method for campaign creation.
It was truly an honor for me to get to share this system with such marketing rockstars...
And it was even a bigger honor for me to hear their thoughts about it afterward...
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