The Game with Alex Hormozi
Business Scaling Workshop Live Q&A | Ep 827
Jan 17, 2025
The discussion kicks off with a financial planner's bold goal to boost revenue from $500K to $5M, featuring innovative pricing and marketing tactics. Learn how to enhance customer engagement with workshops and lead magnets while managing pricing strategies. Simplifying processes for efficiency takes center stage, illustrated through a case study. Discover how guarantees can drive sales amidst market saturation, and explore niche marketing strategies that maximize profitability in specific sectors. Strategies for customer acquisition through paid ads and lead generation are also introduced.
33:20
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Quick takeaways
- Reevaluating pricing strategies to better reflect service value can attract younger, growth-oriented clients while avoiding market norm conflicts.
- Shifting focus to impactful lead generation events can significantly improve sales conversion rates and overall business growth.
Deep dives
Sales Strategy and Model Adjustment
The speaker describes their innovative pricing strategy for financial planning services, where they charge a lower assets under management fee coupled with a monthly subscription. This model aims to attract younger clients who may be initially less affluent but have the potential for growth. However, there is a concern that the combination of personal finance coaching and wealth management services is conflating different offerings, resulting in inadequate pricing for the services provided. The speaker is encouraged to reconsider their fee structure to better reflect the value of their services and align with market norms.
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