How to Create a Funnel that Generates High Ticket Sales – In Just 7 Minutes with Terence Tam

Resources/Links:

• Want to learn how to authentically and confidently scale up your business? Click here: radical-marketing.com

Summary

Are you having trouble scaling your events that you end up losing more money?

Less is often more, especially when it comes to crafting the perfect sales funnel. More ads, many videos, and a bigger audience aren’t necessarily what’s going to get you more sales. Being specific and targeting your ideal audience can promise you better and higher ticket sales.

Terence Tam is a former University Lecturer who now has a Marketing Agency that specializes in generating leads for gurus and coaches to sell high-ticket offers.

Keep your ears open and listen to Terence’s magic as he talks about how you can generate high ticket sales without losing more money and stressing out yourself. He also shares the promising effects of ‘less is more’ by focusing more on your target audience.

Check out these episode highlights:

• 01:42 – Terence’s ideal client: I do claim high-level coaches with high ticket offers, and they normally sell using a one-to-many platform like webinars, challenges, workshops, and the like.
• 02:05 – The problem he helps solve: The main problem I solve for them is that most of the events right now are not scalable, right? They can’t get enough people to their events.
• 02:37 – The symptoms of the problem: Getting not enough numbers, or they’re actually losing money from their events, which is really sucky, right? Or they’re getting people who are not the right fit for their events, and they are trying so hard to sell them that, “Hey, this is right for you.”
• 04:25 – Clients’ common mistakes before consulting Terence: They think they need to do more ads, videos, courses, and events. But when you take a strategic approach, you actually can do less and achieve more.
• 06:03 – Terence’s Valuable Free Action (VFA): A top tip I would give them is that they need to just focus on stripping away stuff, like I just mentioned, and focusing on really the ideal customer that they really want to target.
• 07:07 – Terence’s Valuable Free Resource (VFR): Want to learn how to authentically and confidently scale up your business? Click here: radical-marketing.com
• 08:02 – A: Coaches need to be innovative and be willing to change like three years ago when the pandemic first hit. Webinars were a thing but today, maybe other things challenges could be workshops, etc.

Tweetable Takeaways from this Episode:

“Focus on the ideal customer, the ideal customer avatar, and that will make your return on ad spend just go through the roof.” -Terence Tam Share on X

Transcript
(Note, this was transcribed using a transcription software and may not reflect the exact words used in the podcast)

Tom Poland 00:10
Greetings, everyone, and a warm welcome to another edition of Marketing the Invisible. I’m Tom Poland beaming out to you from the sunny Sunshine Coast in Australia, joined today by Terence Tam. Terence, I know you’ve been Down Under. You’re a former university lecturer at Griffith University, I think here, in Queensland.

Terence Tam 00:26
Yes. That’s right!

Tom Poland 00:26
A very warm welcome, sir! Where are you hanging out at the moment?

Terence Tam 00:29
Well, I’m hanging out there in Sabah in a place, which is near to the Philippines on the big island of Borneo, which is right next to a country that I think everybody knows, which is Brunei. So it’s kind of like the digital nomad lifestyle, right? I lived in Australia for 20 years, that’s why I got the good looks– it must be the water there! You are good-looking. I’m good-looking. Must be the water in southeast Queensland, right?

Tom Poland 00:53
Yeah! So you’ve got the digital nomad lifestyle happening, it sounds just amazing. But it’s really facilitated because of your expertise, which is that you’ve got a marketing agency, but you really specialize in generating leads for gurus and coaches to sell high-ticket offers. And that means you can work from anywhere in the world because your clients are global as well. And so long as there’s an internet connection, you’re good to go! So, folks, this is a really interesting subject, because the kind of marketing utopia here is what Terence delivers. The topic is, “How to Create a Funnel that Generates High Ticket Sales”. So, Terence, we’re going to dive into that. Let’s kick-off! Our seven minutes start now. Who’s your ideal client?

Terence Tam 01:42
Well, Tom, I do claim high-level coaches with high ticket offers, and they normally sell using a one-to-many platform like webinars, challenges, workshops, and the like. And they are already driving traffic to these events using paid ads. So that would be my ideal target audience.

Tom Poland 02:02
Thank you for that! So what’s the problem you solve for them?

Terence Tam 02:05
I think the main problem I solve for them is that most of the events right now are not scalable, right? They can’t get enough people to their events. They’re getting the wrong people to the events, so they can’t scale their business. So that’s where we come in, and basically fill up their events for them.

Tom Poland 02:22
That’s a great solution! Question three is what are the typical symptoms that your ideal client was experiencing before they found your solution? Not filling events is one, obviously. Anything else you want to add to that?

Terence Tam 02:37
Getting not enough numbers, or they’re actually losing money from their events, which is really sucky, right? Or they’re getting people who are not the right fit for their events, and they are trying so hard to sell them that, “Hey, this is right for you.” But it’s really not, it’s the wrong fit. It is really not the right fit! So as a result, they mainly can’t scale the business, and get really frustrated. And I think, Tom, it really boils down to the fact that most marketing agencies out there, operate like freelancers, right? So you tell them to run Facebook ads. They’ll run Facebook ads for you. They don’t think on a deeper level, right? And that’s why they get subpar marketing results. So as a result, coaches try and fix the problem themselves by maybe hiring more people or getting involved in that themselves. And that sucks their time away from their zone of genius. So we come in with more of a fractional CMO-kind of approach with a team of implementers. And let me give you an example, recently, one of our clients in the UK, came to us and say, “Oh, we want to launch this $3,000 program.” And we’re like, “Okay, let’s look at it carefully.” And we kind of looked at the whole thing. And we decided, “Hey, look, I think it’s actually better if you actually do it and charge people $25,000.” And we restructured the whole offering, and they launched it, and we got over a million dollars in sales from that.

Tom Poland 04:05
Wow! I’d be on commission.

Terence Tam 04:06
A little bit, yeah.

Tom Poland 04:09
Well, you mentioned people hiring more staff members, that’s one of the early mistakes or they’re underpricing is, obviously, another mistake. Question four is about the common mistakes that your ideal clients have made prior to finding your solution. Are there any others that you want to add to that you would say you see quite commonly?

Terence Tam 04:25
Yeah, I said they think they need to do more ads, videos, courses, and events. But when you take a strategic approach, you actually can do less and achieve more. Let me give you an example, another client recently came to us and he was doing 2-hour webinars every single week, and that’s really tiring, right? And what we did was we looked at it and we change his model entirely. And he was just breaking even back then. And the first event that we actually helped him to do, he actually got a 10x return on ad spend. And that came down to two things, right? One was basically focusing really on his ideal audience only, and marketing to those people. Secondly, it was about changing it from a weekly webinar. And then we said, like, “Let’s do a workshop every five to six weeks instead.” And that made a huge difference for him. So it’s about the 80-20 principle right, Tom, like stripping away what doesn’t work.

Tom Poland 05:29
Yeah, so folks, it’s worth listening to this. I don’t want you to hear these examples, And think that they’re testimonials. There’s gold in here that you can take away. It’s really worth rewinding the last couple of minutes and thinking about the pricing example. Think about the example of going from a 2-hour webinar once a week to one workshop every five or six weeks. So there’s gold in here! So I hope you’re listening up to it and taking notes. Let’s move on. Two and a half minutes left, Terence. Question five, what’s a top tip you could give people that would take them a step in the right direction?

Terence Tam 06:03
A top tip I would give them is that they need to just focus on stripping away stuff, like I just mentioned, and focusing on really the ideal customer that they really want to target. I think that is so critical because most coaches think, “Everybody wants our service.” But, let’s take away all that and just focus on the ideal customer, the ideal customer avatar, and that will make your return on ad spend just go through the roof.

Tom Poland 06:33
Yeah, I know you’ve mentioned that two or three times, so it really is worth it. Folks, it’s a mistake I also see a lot of people making is thinking that’s about the numbers. And it’s actually it’s far more about getting the right numbers, even if those numbers are 20% less than what you’re used to. If that’s 20% of the right people, you’ll actually be far more profitable. So I do think that it’s not just about doing more and trying to do bigger, it’s about focusing and targeting the right people, for sure. So we’ve got 80 seconds left. A valuable free resource. Where can people go to find out more about your work, Terence?

Terence Tam 07:07
Okay, head on over to radical-marketing.com. And because we’re a marketing agency, we don’t sell any courses. So what we do is every week, whatever is working out there, we basically put it on our website so you can get free access to that at any time. So yeah, that’s basically the place to go. Just click on the “Resources” tab right at the top and you get access to all that information.

Tom Poland 07:30
And folks, I’ve been there. There’s quite a lot there. I’m looking at it right now. For example– “A case study, One Marketing Idea that Helped a Coach Four Times His Business”, and “How to Overcome Self-limiting Beliefs” is in there, which is an important one. “Overcoming Major Business Setbacks: the three-day challenge”, launch case study, zero ad spend, 140 signups. There’s some really top-quality content there. It’s at radical-marketing.com. We’re not an affiliate. I’m just introducing you to Terence because I think he’s got good stuff. Terence, 20 seconds left. What’s the one question I should have asked you, but didn’t, and the answer, please?

Terence Tam 08:02
Okay. Just quickly, I think coaches need to be innovative and be willing to change like three years ago when the pandemic first hit. Webinars were a thing but today, maybe other things challenges could be workshops, etc. So I think that is the key that you just got to keep ahead of what’s working and that’s so important.

Tom Poland 08:23
Great advice. Terence Tam, thank you so much for your wisdom, the examples you gave, and all of your insights. Cheers!

Tom Poland 08:31
Thanks for checking out our Marketing The Invisible podcast. If you like what we’re doing here please head over to iTunes to subscribe, rate us, and leave us a review. It’s very much appreciated. And if you want to generate five fresh leads in just five hours then check out www.fivehourchallenge.com.