May 24, 2019
by DR. MARK T. WADE
#010: The No Cost Traffic Solution to Your Summit
About Sam Carlson
Sam Carlson is an online traffic and conversion specialist with a narrowed focus on Medical Marketing. His company, 25th West Medical Marketing, uses a variety of digital strategies to expand the reach and growth of private practices.
25th West has been featured in Facebook Business™ as a case study for their exceptional work and proven results.
Sam is also the creator of the Brand Response Formula™, which helps businesses gain market attention and trust using a value first approach.
“At the end of the day, I’m an entrepreneur. I feel like my business only exists to solve market problems. If we solve problems, we create value. And value is always in demand, regardless of market conditions.”
Description
Sam helps large communities in the healthcare professional market and grow their businesses, giving them opportunities, not just at business, but opportunities in life because of the successes. They're getting there to have things in life they wouldn't have had up otherwise.
Sam's Most Recent Summit And His Thoughts
💡 First summit I was really challenged with what it was and how it all worked
💡 I really just did what I normally do which is drive traffic not really understanding the ins and outs of the summit world.
💡 It was after I dug into it further that I fully began to comprehend what it was and the clouds parted so to speak.
💡 After I went to that event, and I kind of had a better idea of what the goal was, what the objective was, we started really like deconstructing and pulling back all the traffic strategies that we could use to promote this thing.
💡 She had a couple of technical issues on her email side and all that, but it still was a raving success. Her list went from 0 to I think, don't quote me on this, but I want to say was like 10,000.
💡 The reason that not everybody makes millions of dollars on the internet is because going to cold traffic (having a scaleable audience) is not easy, right? There's different models and things you can do to get in there, but it's expensive. It's really hard to do
💡 I have this thing I call it the noise and the music. So you go into a noisy environment. And it's really hard to go to a noisy environment and make any sense of what sounds musical.
💡 The Self Liquidating Offer framework: you have something of value valuable enough to where your audience will enter into an agreement say I'll pay you at least like this finite amount of money. We're not talking big quantities of money. I'll pay this much money in exchange for that thing. And if you do it right, what you can do is essentially you can grow your list for no money, you liquidate the cost of your traffic.
💡 All in all, my first experience with virtual summits was a little shaky and cloudy, but man it turned out to be I mean, it is a model that does not get enough credit and it's extremely effective, I guess is what I'm boiling down to.
Differences In Promoting A Virtual Summit VS A Lead Magnet Or Webinar
✔️ Every like every funnel, every model works based on one thing, like a singular idea hook.
✔️ That's why the most like the highest converting landing page will always be a squeeze page, you cannot beat it.
✔️ What that basically means is you have a singular problem or a singular idea that this thing is around, okay, and if somebody shows up to that page, first of all, they know within seconds what it's all about.
✔️ Speakers (for Lisa's event) utilized bullet points, those bullet points are miniature hooks inside of the big hook.
✔️ What is the result you're promising them - high opt-in rate.
✔️ Checking your KPIs (Key Performance Indicator)
Ad Spends/Ad Sets Expectation
☑️ When you have more niche audiences, you might find that those costs are a little higher, as opposed to giving the algorithm with a huge group of people, the more people you give to algorithms, the better chance you get at driving the cost down.
☑️ If you apply those same concepts to your virtual summit. It's not going to be as high as a webinar registration.
☑️ With a webinar - it's free the perceived value I have found is I mean usually webinars are you know, valuable but usually a summit is like hours and hours hours of free content, all that kind of cool stuff.
☑️ If you're doing between on the big audiences between $5 to $10 per registrant and then you have a self liquidating offer attached to it, your return on ad spend is actually that cycle, that time-frame from when you launch and lag in recouping your ad cost is not going to be that long.
☑️ Average KPI, KPIs key performance indicator, so the cost per lead that you and I agree is acceptable is five bucks. Okay, let's say that that's kind of like where we're at. So what we would want to do is we would want to go into your campaign with that established first.
☑️ What I would do is I would go through and I would find at least five separate ad sets, which is five audiences and I would take a five times that KPI so five times five so $25 right, and I would test five ad sets at $25 a day for four days.
☑️ Most people think that when you get like a winning ad, okay, you're like, Oh, just put more money on it. That's a really good way to lose money on your ad is to take, let's say, you've got that $25 ad set, right, is to take that exact same ad set, don't do anything to it and just crank it out, you're going to lose money, right out of the gate, you're better off duplicating it and changing the budget then.
☑️ So instead of like scaling deep, we want to scale wide.
How Often Can You Use Ad Sets
✅ You can do it infinitely but there does get a point of diminishing return. That's why you do have to go wide. When you start doing this. You gotta go wide.
Losing Money
✅ By throwing a bunch of money at it, since it's an auction Facebook, for example, and probably Google as well, they will spend your money, you're going to get more results, it just means they're going to spend the money faster.
Other Options For Ad Spend
👉 When people email their list that list if it's good, it's going to get a 20% open rate. 80% are not opening the message.
👉 If you take that same list, and you upload it as a custom audience into Facebook, well, anybody that has a Facebook account is going to see it, so you're guaranteed 100% impressions, like actual eyeballs.
👉 If you can get access to a CSV file of that email and upload that into your ads manager to then be able to promote it. That's going to be really good to target those particular people.
👉 You can have either shared pixel data, or the affiliates are allowing them to create ads managers under their pages. So there's a lot of creative ways you can do it. But the idea is, if a person has a page that has a lot of followers, or has a lot of engagements on any posts, you can then turn around and put those people into paid campaigns and scale it in a very direct and niche fashion. That's a really good way to get people on board for your summit.
Working With Digital/Virtual Marketers
⚙️ The one thing you should always have control over is like a firm grasp of your strategy.
⚙️ Ask questions:
⚙️ Can you kind of give me an idea of like KPIs key performance indicators at these thresholds for okay for clicks? For conversions for this for that?
⚙️ Can you give me an idea, what do you think about this audience that I've chosen?
⚙️ There's a lot of people that copy and paste ads, and even campaign types, like meaning I only know how to do this campaign because I've seen somebody click click, click, if somebody doesn't know how to deconstruct what your objective is, and then interpret that in the ads manager, that's going to be a problem.
⚙️ How you would use information and how you would both prospect and re-market for me, those are the two things prospect and re-marketing laid out for me, like if they can lay it out for you and give you acceptable KPIs, great.
⚙️ What limitations do you have?
⚙️ What experience do you have?
⚙️ If they don't think your summit is focused enough, listen, question it, get more opinions.
Red Flags
🚩 Ask questions!
🚩 Where did you learn it?
🚩 Who did you learn from?
🚩 How long have you been doing it?
🚩 If they say, I started out in Google AdWords, and I kind of converted over to this, good.
🚩 If they spend most of their time in forums or on social communities, red flag for sure. They are not spending enough time on their craft.
Quote:
" I have this thing I call it the noise and the music. So you go into a noisy environment.
And it's really hard to go to a noisy environment and make any sense of what sounds musical."
Get in touch with Sam:
Dr. Mark T Wade went from brick & mortar to multi-million dollar online business using a strategy called the "One-Day Summit".
Having created 6, 7 & Multi 7-figure businesses in the Brick & Mortar, Online (Education) Business, & Software As A Service space (Virtual Summits Software), Dr. Mark now helps entrepreneurs scale their online businesses with proven strategies such as the One-Day Summit Formula.
Table of Contents
📝 About Sam Carlson
📝 Sam’s most recent summit and his insights about it
📝 The difference in promoting a virtual summit vs a lead magnet or webinar
📝 Ad spend/ad sets expectations
📝 How often can you utilize ad sets
📝 Losing Money
📝 Other options for ad spend
📝 Working with digital/virtual marketers
📝 Red Flags
📝 Getting in touch with Sam Carlson
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