Lesson Tag: IMP

Creating customers for life

• It costs over 5x to acquire new customers than to retain existing ones
  • You can constantly be on the hunt for new customers
  • OR… you can go deeper with your existing customers
• Overdeliver every way that you can (sustainably)
• Deliver what you promised during the sales process
• Provide the support you’d want a loved one to receive

Which platform, and how does it compare to the budget-friendly option?

• Comparing the current leading platforms
• Then: a peek behind the curtain at FIMP & IMP’s new platform

Taking a look inside of LearnDash & MemberPress

• This is FIMP’s setup
• It’s served us well, but we’re currently overhauling it

• Two options…
  • The budget-friendly route (one-off or annual WordPress-based LMS license)
    • LearnDash or similar; possibly also a membership plugin
  • The premium route (monthly LMS subscriptions)
    • Kajabi, Thinkific, Udemy, etc.
  • Let’s talk about the pros & cons…
• Other things to keep in mind besides budget…
  • Integrations with other tools you use
  • Whether or not you need a supplemental (or replacement) membership plugin
  • Self-hosted & managed vs. hosted & managed by IT professionals
  • Added fees
  • User experience & its impact on retention

How do I sell my course?

• This is outside of the scope of this particular section, BUT…
• Look at what your competitors are doing and study their funnels
• Be respectful of their intellectual property (IP), but don’t reinvent the wheel

Where do I start?

• Think about where your target audience is starting
• Think about where you want your target audience to end up
• Then bridge the gap between the two: “Inch Wide, Mile Deep”
• Also remember that the broader an audience you cover, the more people you’ll be able to sell to
• Let’s take a look inside my WorkFlowy for A12

• Why even bother?!!
  • Looking at the numbers…
  • Think back to the early FIMP “reverse math” numbers
  • Would you rather make 4%, 7%, 50%, or 100%?
    • $1,000 x 1,000 = $1,000,000
    • $97/mo x 12 months x 860 = $1,001,040
    • $1,000/mo x 12 months x 84 = $1,008,000
• Things to keep in mind…
  • Your product = YOU support it
  • BUT… you also benefit from conversion tracking & possibly affiliates
  • Will people be willing to pay for this? Conduct a market analysis.
  • Honestly ask yourself this question: Can I deliver?
  • Also remember what’s your responsibility vs. what’s NOT