How to Triple Revenue with New Facebook Ads Strategy

TL;DR

By introducing a new 'done with you' offer alongside an existing 'done for you' service, a business tripled its revenue in 150 days. The new offer, priced more affordably, attracted a larger audience and facilitated easier scaling, resulting in significant growth. This strategy highlights the potential of diversifying service offerings to capture a broader market segment.

Transcript

$4 million in extra revenue is what we were able to add in just 150 days to one of my businesses by implementing a new strategy we introduced a new offer and it more than tripled this business and in this video I want to show you exactly what we did and explain the decision-making framework before I explain the $4 million increase though I want to ... Read More

Key Insights

• A new 'done with you' offer was introduced, priced at about $4,000, significantly lower than the existing 'done for you' service.
• The 'done with you' offer includes one-on-one coaching, exclusive materials, and access to a community, making it appealing to more businesses.
• The business saw a 300% increase in revenue within 150 days by adding the new offer alongside the existing service.
• The initial launch of the 'done with you' offer generated £11,000 in revenue, nearly doubling the business's monthly income.
• The 'done with you' offer converted leads at a rate of 22%, higher than the 14% conversion rate for the 'done for you' service.
• The business maintained its 'done for you' service to ensure expertise and market relevance, preventing cannibalization of existing revenue.
• The new offer tapped into a larger segment of the market, increasing lead generation from 45 to over 300 leads per month.
• Future plans include aggressive scaling of both offers, leveraging increased profits for expanded advertising and content creation.

Questions & Answers

Q: How did the business triple its revenue in 150 days?

The business tripled its revenue by introducing a 'done with you' offer priced at about $4,000, which was more affordable than the existing 'done for you' service. This new offer attracted a larger audience, increased lead generation, and facilitated easier scaling, resulting in significant growth within 150 days.

Q: What is the 'done with you' offer?

The 'done with you' offer is a service that includes one-on-one coaching, access to exclusive materials, regular live calls, and a community of business owners. Priced at around $4,000, it provides guidance and support while allowing clients to implement strategies themselves, making it more affordable and appealing to a broader audience.

Q: Why was the 'done with you' offer successful?

The 'done with you' offer was successful because it was priced affordably, making it accessible to a larger segment of the market. It provided valuable support and resources, increased lead generation, and allowed for easier scaling compared to the labor-intensive 'done for you' service. This combination led to a significant increase in revenue.

Q: What were the conversion rates for the new offer?

The 'done with you' offer achieved a conversion rate of 22% from lead to client, which is higher than the 14% conversion rate for the existing 'done for you' service. This higher conversion rate contributed to the significant growth in revenue and demonstrated the appeal of the more affordable offering.

Q: Did the new offer affect the existing 'done for you' service?

The introduction of the 'done with you' offer did not significantly impact the 'done for you' service. While there was a 9% drop in lead volume for the 'done for you' service, the overall increase in revenue from the new offer more than compensated for this, indicating that the new offer mostly tapped into a new market segment.

Q: What are the future plans for the business?

The business plans to scale aggressively by leveraging increased profits from the 'done with you' offer. This includes increasing advertising spend, improving organic content, and potentially introducing a lower-ticket offer in the future. The goal is to achieve a revenue run rate of $10 million by 2025, doubling the current rate.

Q: How did the business launch the 'done with you' offer?

The business launched the 'done with you' offer with a 3-day campaign that included teaser posts, emails to their list, retargeting ads, and special bonuses for early sign-ups. This launch strategy effectively activated their existing audience and generated significant initial revenue, setting the stage for ongoing success.

Q: What role does the 'done for you' service play now?

The 'done for you' service continues to play a crucial role by providing a test kitchen for market research and maintaining expertise in the industry. It ensures that the business remains up-to-date with best practices and prevents the risk of losing a reliable revenue stream, supporting the overall growth strategy.

Summary & Key Takeaways

• Introducing a 'done with you' offer allowed a business to triple its revenue in 150 days. This new offer, priced more affordably than the existing 'done for you' service, attracted a larger audience and facilitated easier scaling. The strategy highlights the effectiveness of diversifying service offerings to capture a broader market segment and increase overall revenue.

• The 'done with you' offer provided one-on-one coaching, exclusive materials, and community access, enhancing its appeal. This new approach resulted in a 300% revenue increase, with the business generating over £247,000 from the new offer alone. The strategy effectively expanded the business's reach and attracted more leads.

• By maintaining the 'done for you' service, the business ensured continued expertise and market relevance, preventing revenue cannibalization. The success of the new offer demonstrates the potential for businesses to significantly grow by introducing complementary services that tap into untapped market segments.