The Art of Online Business

Leveraging A Digital Product That Pays You To Bring In Qualified Leads With Abagail Pumphrey

• Kwadwo [QUĀY.jo] Sampany-Kessie • Episode 858

Share episode

Abagail Pumphrey, co-founder and CEO of Boss Project is back to talk about how to leverage digital products effectively to attract qualified leads—something she’s mastered en route to building her seven-figure business. 

She’ll break down the mechanics of creating digital products that not only sell but serve as a precursor to higher-ticket items, ensuring a steady ascension of customer commitment and value.


Watch the previous episode ‘Abigail Pumphrey's Journey turning a layoff into a Seven Figure Success’ 



Please click here to give an honest Rating/Review for the show on iTunes! Thanks for your support!



Kwadwo [QUĀY.jo] Sampany-Kessie’s Links:




Abagail’s Links:

Speaker 1:

Welcome back to the Art of Online Business podcast and if you're watching on YouTube, you can see that Abigail Pumphrey is back with us for a second episode. Hi, Abigail.

Speaker 2:

Thanks for having me back.

Speaker 1:

You're welcome. I'll give you an intro quick. She's the co-founder and CEO of Boss Project, which has been a driving force in the creative entrepreneur industry since 2015. And you did hear me right, I said she's back on the second episode If since 2015. And you did hear me right, I said she's back on the second episode. If you want to catch her journey from when she started to when she had a very traumatizing brain injury that took five years to recover from and know how well, kind of get highlights and snapshots of how she built her business from there up to seven figures, you're going to want to watch the previous episode, but for now, I'll continue her intro, which is that she empowers online businesses from around the globe. She served more than 37,000 students, helping them to streamline their operations and achieve their business goals. She's also the host of the Strategy Hour podcast, which is a staple in the business community, and it's continually still since 2017, when you started it, right.

Speaker 2:

Abigail.

Speaker 1:

Yeah, it's continually topping business and management charts on Apple with millions of listeners from around the world, and that, as a fellow podcaster, is hard to do. Abigail's superpower lies in her ability to break down complex concepts into easy to implement and duplicatable systems. I'm going to stop there. We could keep going about just how much you've achieved, but it's really cool that I got to interview you in the last episode about how you went from well zero to building a seven-figure business, and in this episode, you're going to be sharing about leveraging. You went from well zero to building a seven-figure business, and in this episode, you're going to be sharing about leveraging a digital product to get paid to bring in qualified leads. This is what I consider, as a Facebook ads manager, the holy grill, if you can figure it out, and you're going to map it out so that the listener can figure out how to make a digital product.

Speaker 2:

Yeah.

Speaker 1:

And then run. Well, get paid traffic, if you will, to bring in qualified leads.

Speaker 2:

Yeah Well, where do you want to start, because this is kind of a big topic. If there's any specific starting point you want me to dig into, I'm happy to.

Speaker 1:

I feel like the listener would be very curious. I'm happy to. I feel like the listener would be very curious. What is the filter that you're using when you are looking for a product that's going to hit? It's going to sell?

Speaker 2:

So I think when we are looking at what's going to sell, we have to consider a couple of different things, and you know everyone always talks about we have to know who we're serving and what problem we're solving, and I think that is an incredibly important aspect of it, but it's not all of it. Who you're serving is going to help you narrow in on making sure you're attracting the right people that are ultimately going to be those qualified leads that you're looking for. The what problem you're solving needs to be very specific to that audience. It needs to be aligned with their own journey and make sense for where they're at Cause.

Speaker 2:

Sometimes we will present solutions to problems that this person will face, but we're at the wrong point in their timeline because this person is, you know, like so many of us. We're all going on a journey. We're all experiencing different things along our path, and we will have similar aspects to the way we approach things, and I think sometimes it's easiest to think about it if we look at a very specific example. So like, let's say that you what.

Speaker 1:

Can I give you a specific example?

Speaker 2:

Oh sure.

Speaker 1:

All right. So in this example, I'm an online course creator bringing in about four to $5,000 a month from my course. It's a mid ticket offer. It's right at $5.97. And I also am already running ads to a lead magnet, so I know that I can bring in qualified leads and they will convert profitably into my upcoming course launch. At this point, I'd like to know, in this example, how do we go from the success with an offer that's lower ticket that I can run ads to profitably?

Speaker 2:

Yeah.

Speaker 2:

So you would need to identify what is the problem that needs to be solved for someone to be ready for what your signature program offers.

Speaker 2:

So the example I was going to share was more specific to a topic.

Speaker 2:

So you know, say you are someone who is serving a new mom and this new mom has various things that they're worried about because they got a new baby at home and, if you think about it, they can't worry about everything all at once, and so initially they're worried about, like, gestational development, and then they're worried about birth, and then they're worried about developmental milestones, and then they're worried about weaning, and then they're worried about walking, and then there were you know what I'm saying and so they're going through these very specific things, but there's a timeline to that.

Speaker 2:

There is a very specific order in which most, most people going through that journey are going to experience, and I think often people, when they're not seeing success, when they're not seeing sales, they may present the right solution at the wrong time, and so we need to be really mindful about where are they on their journey right before your other offers make sense, and how can we make sure we're solving the problems that are going to get them ready and equipped and, you know, willing to go on the next stage of that journey.

Speaker 1:

I like it. So what example could we use the one that I shared or the one that you shared to go into like the number one mistake that people make when choosing a digital product? I would say even pulling some, either choosing a brand new product or pulling a portion of their current course that's already selling.

Speaker 2:

Yeah, so, like you said you, you do have the option of taking something like module one or like considering it module one or module zero of an existing offer and pulling that out and making that your low end offer. That's a totally acceptable way to move through this.

Speaker 2:

The issue that a lot of people face, especially people that are doing that, is they're like I want to get them out so people will often say no simply because they think they can't do it, and so it ends up being that you're selling to them twice. You are getting them excited about a topic and willing to see this as an opportunity and they could have total buy-in that this does make sense. But then, if they go down that road, you're making them feel this necessity to commit to doing or implementing something, and a digital product that is going to be super effective at being sold is one where you are doing most of the lift for them, like it's almost as if it's done for you, but without the service component. You are making it almost impossible for them to screw up and they are able to implement it, like we're talking in minutes or hours, not days, weeks, months, years. So we have to solve a very, very quick problem and do it for them, but by making it a commitment like they are requiring, you're requiring them to buy in twice, and because they have to buy into the idea and then they have to buy into their willingness to complete it and you will convert people. I'm not saying you won't convert people that way, but you're going to see a much lower conversion rate.

Speaker 2:

So just for example, often this comes down to messaging.

Speaker 2:

It's not necessarily what's going inside that has to dramatically change, it's how you're framing it up.

Speaker 2:

So say, for example, you were in the fitness space and you wanted to sell people on this like 30 day yoga challenge. Well, now someone is like got to believe in the idea of how yoga can help their life, but they also have to believe that they have 30 days that they could commit every single day to this challenge. All of a sudden, they're overwhelmed, and and so instead you could provide poses that are similar things that you would be teaching inside a challenge, but offer them on as needed basis. So you could say you know, here is a guide to 15 poses that help reduce stress in five minutes or less. And now, all of a sudden, it's about stress relief and you're associating it to a problem that feels really relatable. They feel like they can pick up this tool and use it when they need it, but they're not required to implement anything. So ultimately, you're not even necessarily looking for them to complete the digital product, which I know some of you are like.

Speaker 2:

The digital product which I know some of you are like what? That's not necessarily the point. They want to know they have access to it.

Speaker 1:

And sometimes that's enough. So did I understand correctly that?

Speaker 2:

it's still the same challenge on the inside of the product. It could be. It doesn't necessarily have to be. It's probably smaller. Like you, instead of having 30 days of 20 minute, you know workouts where you're like going through a whole flow. Maybe you're teaching them one flow and you know you're you're teaching them. You're breaking down 15 of the poses that are in one flow, but you don't have to have a different flow for every day of the week for 30 days, like. That's incrementally so much more work for you and a lot harder to sell, especially now. I'm not saying it hasn't sold in the past. I'm not saying that hasn't been an effective strategy previously, but I'm not seeing that convert as well in the market today.

Speaker 1:

So the question that I know you have been asked many times, because I get asked this plenty of times when I do one-on-one coaching, and I would love to hear your perspective, since you don't manage ads right.

Speaker 2:

I don't.

Speaker 1:

Okay, what price point is the best price point for a low ticket? Offer point is the best price point for a low ticket offer.

Speaker 2:

You knew I was going to ask that, didn't you?

Speaker 2:

So, in terms of price point, I really look to psychology for the answer to this and ultimately you want to sell digital products at a no brainer price point to your audience, which is not necessarily the same for every audience. Some audiences no brainer price point is going to be significantly less than others, especially like if you're in an ultra luxury market, like you may have a $10,000 no brainer price point. I wouldn't say that's the majority, though. Okay, so the majority of people who are serving average consumers, I would say on a B2B basis, this is typically under a hundred dollars, and then on a business to consumer basis, you're going to see that price point closer to under $50. And I'm not saying there's a magic number to this. It just tends to be that under those thresholds, people are more like willy nilly to throw that amount of money around, because you know it's numbers they're used to seeing at the grocery store, picking up a couple of shirts at their favorite retailer, or whatever at their favorite retailer or whatever, like it's a number that's not scary to them.

Speaker 2:

Like versus, you know several hundred. You're starting to get into this. Well, I need to talk to somebody about it or I need to, like, run this idea by someone else and get outside validation Under a hundred. You tend to have people that are willing to make the decision themselves and make it pretty quickly, if not immediately.

Speaker 1:

Cringe or not cringe Comparing the price of the low ticket offer to its equivalent in Starbucks purchases of whatever's on their menu.

Speaker 2:

I mean, I've definitely had that on my sales page before my hand is up too.

Speaker 2:

I mean I'm not sure anyone who I've never met, someone who hasn't I don't necessarily use that right now. I tend to prefer my strategy that I feel like I like that's working right now. That feels in alignment for me right now is I will show it as valued greater and make it look like it's on sale and it is I mean like it's on sale and it is I mean it is on sale. I could raise the price at any time and I believe in the value that it's listed at. But showing, you know, a slashed out price with today's price tends to work better for me today than like having some analogy about what it's compared to okay, okay, what about bonus sections?

Speaker 1:

we're kind of we kind of went down the pricing route and now, like I have a sales page in my mind, visually, excuse me, are you including bonuses, the?

Speaker 2:

the reason the digital product should convert is because of the solution that they're going to be getting in such a short time period. So if you, if you can show that promise and then show proof that you are capable of making this promise come to life, that is going to go far further than a bonus. I feel like bonuses tend to work better for urgency. So if you're trying to convert someone now, you may add a bonus in something like a funnel, Like if you buy in the next 24 hours, you'll get XYZ too. Or you could add a bonus on a higher priced not necessarily high price, but like a mid tier course or signature program. As you know, the tipping over point of like I was ready and I was willing, but I like had some price hesitations. A bonus might get someone over a hesitation, but I don't necessarily think a bonus is necessary in the world of digital products as long as your promise and proof are there.

Speaker 1:

Bonus should get somebody over a hesitation. That is a good wisdom takeaway. Before I ask you because in the beginning and on the previous episode I teased that you're going to share how to also strategically position this offer so that people will buy other offers down the line from your business. I would love for you to go into detail about that, but first can you tell me a little bit more about this evergreen free challenge that you have?

Speaker 2:

Yeah. So I love helping people get their first or next digital product out into the world, and I know that a lot of the times it comes down to feeling like you're battling all this other stuff that's going on all the time and getting through it. It feels like a lot, and so I decided to condense it down to one day. So, rather than you working on it a little bit an hour here, an hour there, hour next week hour, two weeks from now, and you still haven't launched anything we're going to go through and we're going to decide on your offer. We are going to build out your sales page and you're going to get it launched on pre-sale in just one day.

Speaker 2:

So you don't necessarily have to have the digital product built. We will get it ready to market and you will get sales in the door before you even build it, so you'll be able to validate that offer. Now you can sign up for the free challenge by going to bossprojectcom slash launch. It's completely free. You'll be able to go through the whole challenge, implement it. We've had over 7,000 people go through the challenge and take it on, and we are featuring many of those people in our digital product directory. So once you launch your digital product, you can report back to us that you've done it and you're excited about it, and we will add you to our website and feature you that sounds awesome and it's in the show notes below.

Speaker 1:

Right now, bossprojectcom forward slash launch one day to a digital product fast track or to a digital product launch with a sales page for a pre-sale. Yeah, that sounds good, all right it is good, it's so good 7 000 people have showed me it's good I'm I am confident, it is fantastic cool, cool I I want to ask the question do it, just ask me okay, the listener's like. But, abigail, how could I sell something that I haven't created yet?

Speaker 2:

I hear you. I hear you and we do cover this inside the challenge, because I know this is a question that is inevitably going to come up, but I want you to know that in every other industry this is normal. They already have your meal prepared in the back. If they do, it's probably not going to be as good. It's probably not going to be as good, but if they don't make your order until you say, yes, I want this, you're going to get a better experience. If you go to purchase a home, you go under contract and you go through a whole slew of things before there's any sort of exchange of hands, and so, especially if we're talking about new construction, like, you're definitely not getting a house without pre-purchasing it, and so you know.

Speaker 2:

This is common across many different industries and, for whatever reason, far less common in the digital world. I think. So many people assume, if we're going to sell something, that you have to give instant access. But I think that it's actually such a huge benefit for you to sell on presale, because not only are you getting paid up front so that you actually have the time to slow down and build the thing and have the funds necessary to do that, but also you have an opportunity to survey these people and actually get to know their needs. And so every time I do a digital product or a course launch, the first thing I have them do when, after they enroll, after they go through like a welcome hype video that I'm so excited that they're here I have them fill out an intake survey and on that survey I'm getting to know more about them, more about their business, more about where they're at and their struggles and their challenges, and I always ask them very specific questions to the topic that we're actually covering in whatever program it is.

Speaker 2:

And when you have that data, you can make your product so much stronger, because oftentimes, not only do you see holes in your potential plan of the thing that you plan to implement on, but you see topics that you would have never thought of yourself. But you may see that 20% of the people who came in all are talking about the same problem that you had never considered, and so now you are going to better solve that problem and more fully solve that problem. So the very next time you sell it, you are going to have better testimonials, because the people who came in early it was very customized to their needs, so they're likely to get better results and which are only going to give you better proof that you can utilize in the future to go on and sell it.

Speaker 1:

Boom Couldn't have answered it better myself.

Speaker 2:

I'm glad we're on the same page we are.

Speaker 1:

We're on the same page. I mean, it's like I'm buying an airplane ticket to an event in dallas and I have to pay for it before my flight gets here yep, it's that's true in every industry.

Speaker 2:

You have to pay for it before you get it.

Speaker 1:

So yep, yep, yep. So last question, which is I kind of teach that question before you shared about this, which was okay. Now you've shown me, the listener, the steps to picking a digital product, right, but how do we make sure to pick one that aligns with a subsequent purchase or aligns with another product, so that a customer is more likely to go on and purchase more from us in the future?

Speaker 2:

So remember how we talked about that timeline that your ideal client is on and they're going through these various problems and you're solving them. So I talk about this inside my accelerator in a bunch more detail. But ultimately these people are going through and they're jumping from one little problem to the next. But when someone buys something like a course or more signature offer, you are typically solving multiple problems that take someone through like a stage or phase of their life or business. Like a stage or phase of their life or business. And when we start to think about our offers in a more linear fashion, we can start to see opportunities to create connection points. So you may solve a really tiny problem that's a very specific to right before they encounter this other thing, and then we can offer them the course or the signature offer that makes sense immediately following that. But if we've designed our offers to be in more of an Ascension model where one offer leads directly into the next because we are following the same ideal client, we are going to see so much more lifetime value out of that customer, because one of the biggest mistakes I see people make and not the biggest, but it's way up there is people will start to look at okay, I'm interested in digital products courses and say, group programs and various price points, or maybe instead of a group program it's a one-on-one service. We can exchange this out, but we're talking about, you know, low, mid, high ticket.

Speaker 2:

People will often take the same problem and solve it three different ways, instead of solving multiple problems that someone would encounter over time. So like, for example, say, you're a website designer, someone might have like an about page copy template, and then you know some sort of pre design website package, and then this, this third offer, is a custom website. Well, in all three scenarios, you're helping someone build their website, whether they're completely doing it themselves with some assistance, or you're completely doing it for them. What are they going to buy from you in the future? You don't have anything else for them. You've completely cut yourself off from the other potential offers, and so if you can start to think about offer alignment and that someone could kind of go on a journey with you, you can serve a customer over a longer period of time.

Speaker 2:

Now, a customer you acquire once is seven times more likely to buy from you again, and so it is often worth it, I think, especially now in kind of the economic time and space we're in earning someone's trust. That lead is worth so much more to your business when you know you have the ability to work with them more than once. When it's a come in and go. The level of care you have for that client I mean as much as you may want to love and care for them it's going to be so much lower if you know that they're only ever going to get that sale, that one sale, and so if that happens, you end up being solely focused on marketing and sales and not on client fulfillment. And I honestly think Ascension models help us be better at delivering great results, because you want the person to get the real result, so they're ready for your next thing, and I think it just makes us better at actually serving and teaching people done.

Speaker 1:

Thank you for saying that and sharing that yeah so I'm gonna put the link the link I already is in the show notes below for your challenge, and I'm also gonna thank you here for being here and sharing this with us, because that's it's kind of like the missing piece that I see to so many businesses an offer that they can sell that pays them to bring in leads.

Speaker 2:

Yeah, it's truly an incredible opportunity for people and you know, yeah, you could go out and offer a lead magnet and, honestly, I don't have anything wrong with a lead magnet. But the person coming in from something that you're offering completely for free is worth far less to your business long-term than someone who purchases from you. So, while you may get 10 times less leads potentially by going straight to offer, the people that are going to come in are so much more qualified and they're way more likely to purchase something else from you in a very rapid basis. So I still have those lead magnets out there, but I probably spend 20 or 30% of my time marketing that and 80% of my time marketing paid products.

Speaker 1:

Yeah, it's more exciting too, I could say so. From the other end of the screen is an ad manager who manages funnels for clients that have these kinds of products. But it's like great, checking in, we're at $300 of ad spend a day and the funnel is converting at 2.7 return on ad spend. Let's go. And the business owner is like super happy, let's keep scaling it up. So it's exciting to have a product that you can get paid for. Okay, thank you for sharing this, abigail.

Speaker 2:

Thank you for having me today.

Speaker 1:

Absolutely my pleasure. Absolutely my pleasure, and for you, listening to the episode. You can always go and watch us on YouTube if you choose. And until the next time you see me or hear from me, take care and be blessed Bye.

Speaker 2:

Bye.

People on this episode

Head Shot

Kwadwo Sampany-Kessie

Host