Ryan Moran produces a podcast titled, Freedom Fast Lane, where he runs high level events and workshops for entrepreneurs. Ryan is known for putting together an annual high-end event where he secures top level industry leaders to speak. He also runs a men’s fitness company based on amazon.com.
A Quick Preview of the Podcast:
- How to get people to convert via email
- How to make your email marketing scalable
- The essential elements needed to clearly communicate your offer
To See These Tactics In Action:
To See The Transcript:
Tim: Could your email marketing generate a significantly better result with a few simple changes in the way you present your offer? How do we add scarcity without losing all of our scalability? Ryan Moran, the founder of Freedom Fast lane is on the show today to answer those questions with a tactic he implemented that tripled the effectiveness of his and his clients’ email campaigns.
We know scarcity is a highly effective tool if used properly which is why I love this case study so much because it shows us how to do it with our email marketing. I’m Tim Page, the conversion educator here at LeadPages and this is ConversionCast.
Hey Ryan, welcome to ConversionCast. Thanks for coming on the show.
Ryan: Thanks so much for having me. I’m stoked to be here.
Tim: Cool man. Stoked to have you. So can you share with us first off, what were the results from this case study we’re going to talk about?
Ryan: On average, the results are a 300% improvement on a campaign on every email campaign.
Ryan: That’s the result.
Tim: I love that. Yeah that’s what you know email marketing we talk about it all the time and we talk about how valuable it can be and so I think people listening to the show just really just eat it up when we get to talk about specific things we can be doing to improve the effectiveness of our emails and that’s kind of why I’m excited about this. But before we get into it, can you share with us a little bit about you know, yourself and kind of what your business is all about?
Ryan: Yeah. I have a podcast called Freedom Fast Lane. It’s on iTunes as everybody is at this point.
Ryan: I run high level events for entrepreneurs and workshops and I do one yearly year end, really high end event revering in top level speakers in the industry and try to shatter everyybody’s paradigms on what is possible. I also run a men’s fitness company that is mostly based on Amazon.com.
Tim: Nice. Okay. Awesome. So you’ve got some –you know, you’ve got a few different businesses that are the foundation for this. Can you talk a little bit about what gave you the idea to do what we’re talking about?
Ryan: I can take credit for it myself. It came from my mentor. My mentor’s name is Travis. I consider him one of the best email marketers in the world and he came in and just tweaked my processes and this tweak alone has put more than a million dollars in my pocket. I’ve probably estimate put a little over $2M in my pocket.
Ryan: Just from this little tweak that we’ll talk about in the next couple of minutes.
Tim: Yeah. Well let’s talk about it. Tell us what did.
Ryan: Yeah, right. So the major piece of it and I consider myself a professional email marketing. I use LeadPages for everything and then AWeber follow-up with all my prospects either on follow-up sequence or through structured broadcasts. When I mean structured broadcast, I mean everything has an end point which leads me to the tweak that my mentor Travis gave me which was to put time scarcity on everything. So for a long time, I was doing email broadcasts and would be promoting affiliate offers on my own products or events or whatever it was and whoever would show up, would show up. Great.
But the minute that I came in and tweaked the process so that now every promotion had an end date, meaning I told the audience that we are ending the promotion on such and such a day. This is the last time you could get it. The price goes up after this day. Everything had about a 3x jump. I know that sounds hypey and a little hard to believe so could we go into some examples? Is that cool?
Tim: Yeah, I would love to.
Ryan: All right. So one story is I had a Click Bank product and that Click Bank product did reasonably well. If an affiliate mailed it out, it would do about a dollar and a half earnings per click. I was probably selling maybe $500 a day in that product or so.
Ryan: In as far as sales.
Ryan: And then I went in and I wrote an email sequence to my list and I followed this specific formula where we announced a bonus. And then we cut off the bonus after five days. As a result of adding in that sequence, adding in that cutoff point, the sales during that time period went from $500 a day to $2000 a day. So I took that same email sequence and I gave it to my affiliates. I reworked it for them and I said try sending this out. And the only difference really for them was instead of sending out three emails where it was hey this is great, go check this out, it was a very time sensitive promotion.
There was an opening, a middle and an end. And as a result their earnings per click went from the average of about a dollar and a half to between $4 and $5 per click as a result of just changing that sequence.
Tim: That’s awesome.
Ryan: If I’m promoting an affiliate offer, I’ll do this with either a bonus or I have –I’m just getting ready to promote my yearned event which is called Freedom Fast Lane live and we have all these great speakers like guys from Shark tank and people who do hundreds of millions of dollars in business or investments every year. That is how I had planned to promote it just leveraging the celebrity of these toppable speakers. Then I thought wait a minute, how can I bake in some sort of a time scarcity, a sort of an end to the promotion.
So we’re doing an early bird list with a price raise at some point and I know just from experience that having that cutoff date of price hike or a bonus that will sell a lot more tickets in a shorter window by having that cutoff point.
Ryan: So I’ve used this structured promotions of a beginning, a middle and an end on everything that I do even if I’m just promoting my podcast. I would do a beginning, a middle and an end type of promotion because it always increases response on average about 300%.
Tim: Yeah that’s awesome and you know, I think that there are probably some people that are not necessarily a fan of this method because they say it’s not scalable. So what would you say to that?
Ryan: Well I would have – I’ve come up with this different ways to run it and so many different ways to spin it that I can reuse it over and over and over again. So if you’ve got a produce that you’re promoting via follow-up sequence, come up with bonuses. Come up with discounts,. What other things can you structure into regular follow-ups that have time sensitivity to them?
So you might not be able to use this same, the same idea that has time scarcity to it but can you do different pricing? I did a video sales letter once where I had a price hike baked into the promotion where once we sold X number, the price went up to this. And I made that very clear in my marketing and my email messages and my sales went through the roof because there was scarcity in the pricing or I’ve used the idea of a bonus several times or if there is a product coming off the market. It allows you to get launch type results without necessarily having to do a new product.
So if you – it doesn’t just have to be price. It can be a bonus class, an extra day of training. It can be tiered pricing or it can be the payment plan goes away. But if you get scarcity at the end of a sequence even if it is something small, it always increases response. So I understand that a certain promotion may not be scalable but the results are so inflated. I don’t know if that’ the right word but they’re so impactful that I just come up with different things to use, to recycle as similar offer and tweak it so that I can continue getting that bump.
Tim: Yeah that makes sense and it’s not that – the thing I love about this is that it’s not like your products or your offers are going away. It’s just that the bonuses will be gone or the price will be increased and that kind of thing. So it’s not like you’re going out there and you’re relying every time on a launch in order to be successful. It’s just simply that you’re including an element of scarcity into all of these promotions, every promotion that you’re doing and then people lose that. It’s the same thing you know and when we do our webinars, every webinar we do have some kind of bonuses and the bonuses are gone when the webinar is over with.
Tim: Of course you can always get LeadPages but you can only get those bonuses during that webinar until it’s over with. It creates a reason for people to buy right then and there well it’s at the top of the mind and they’re most excited and they can kind of keep going forward.
Ryan: Right and you can do this in a follow-up sequence. So I’ve done this where I’ll have a bonus that goes away if they don’t order at a certain point in the follow-up sequence.
Ryan: And when they exit the follow-up sequence, then that bonus is no longer available. That is scalable. It’s just a nice conversion bump in the middle of the funnel or the middle of the follow-up sequence. So it doesn’t just have to be in broadcast although that does happen to be how I tend to use it but you can put this in any follow-up sequence. You can get it to swipe files that you give too affiliates for mailing your offer. I personally try to work it into every part of my marketing.
I had a client actually who has a continuity program and then he has a one-off service. So some people will sign you for the one-off service but what he really likes is for people to join the continuity program where they’re getting that one-off service every month.
Ryan: We ran a process where it was – there was just a cutoff point to the promotion, you know, the final email in the sequence, this final notice, this is going away, this is the last time you’re going to hear me talk about this. This is the last announcement. Quit kidding around. Get off your butt, come do this. We just that five-part sequence that had a clear cutoff point he doubled the amount of people in his continuity program. So he had people who are fence sitters that were just – that was money being left on the table that wanted the service but hadn’t been given that final push to get in and as a result of that sequence, doubled the amount. I mean he was absolutely blown away. I’ve actually done this with webinar sign-ups before. So I’ll have a cutoff point to the webinar signup.
So I had a client once. He was selling about $80,000 a month worth of product and he – one thing that was driving his business was webinar sales and he had his numbers figured out of what each webinar attendee was worth. He said if I can just increase the amount of webinar attendees I got, that would increase my sales obviously.
So we came up with a sequence like this where there was a cutoff point where you had to register. So we just said look we’re doing this on GoToWebinar. There’s only a thousand spots open. 80,000 people are seeing this email. Today is the last announcement to get off your butt and sign up for this class. This is the last time you’re going to hear me talk about it. Once this is full, it’s full. So there was a cutoff point that was made very clear.
His registrations went from an average of 350 people who showed up to webinar to he had a waiting list of people on a spillover.
Tim: that’s awesome.
Ryan: So he went from 80,000 a month to that promotion, did a quarter million dollars. So he tripled his results on that and we added some extra things in there. The only thing we did extra on that was we added in a story to it. So there was a reason for the class. You have done this class several times before but there was a reason why he was having the class now why it was really important now.
If you do a promotion once a month, you can come up with a reason every month of why you’re doing this class. And then we put a cutoff date on when you had to sign up. He did the promotion, tripled the sales that he would normally get. I feel like I’m repeating myself but it’s so important and it’s a duplicated it over so many different industries and so many different businesses and the average really is a tripling of results.
Tim: Yeah I love it and it’s not a difficult thing to implement. So that’s one of the reasons why I wanted to talk about this. Thank you so much for coming and sharing this with us on the show. I really appreciate having you here.
Ryan: Thanks so much for having me.
Tim: All right that’s going to do it for this episode. What an awesome tactic. I love this. Scarcity in email marketing without losing your scalability. Such a good one. All right, so we do a little custom guide for each episode that breaks down the specific concepts and tactics discussed in the case study in a way that’s really easy to download, refer back to later, highlight, circle, underline and write little love notes to me on.
If you want to download that guide, all you have to do is head over to ConversionCast.com and right there you will see the episode if you’re listening to it after it was just released for Ryan Moran . If you’re listening to it a little bit down the road, hey the cool news is we’ve got a guide for every single episode that we release so you can check out the newer episode, the older episodes, get the guide, download it, put it into a nice little folder and refer back to it later. Again that guide is at ConversionCast.com. that’s going to do it for ConversionCast. My name is Tim Page and we’ll see you next week.
Listen To Discover The One Tactic That Immediately Got Ryan A 300% Increase In Sales