The Self-Liquidating Offer (SLO) Funnel
What he is saying:
Today I just wanted to break down one of the funnels that I happen to utilise inside of my arsenal. It’s pretty basic and in fact, it’s one of the ones that usually start off with as a building block, and then of course you add more complex parts to the funnel from here and this is called the SLO or the Self-Liquidating Offer.
This isn’t obviously one of my own creations, this was made way back in 2007. The very idea of the squeeze page and the landing page leading to your core offer was something that came even before I hit the internet! So can’t take the claim to fame to that, but it’s a very basic simplistic idea and it always does lead the user into a natural state from opting in to potentially using that traffic (especially if it’s paid) and converting it and creating a $1 in $1 out scenario.
So that way again, you’re building your buyers list. That’s always the core idea. You want a following or a tribe no matter what you call it. The whole idea is to get your own language, your own ideas, your own emotional states that you wanna induce inside of your audience so that way, they follow you (and you alone)! You only need a few people to really follow you. By few, I mean just a thousand. That’s not much, so you can imagine just building up a thousand who would loyally follow you over the course of the year, even two years. Then you can make it happen and make it big!
So again that’s all that you really need and it’s all about spreading your ideas, spreading your success. Whatever you’re doing and just being able to show how you can be an asset or a benefit to whatever they do. So whatever you’re doing is you’re offering your lead magnet. Again, that your squeeze page. That’s where you’re giving your freebie, simply stating “Hey! Here’s what I’m giving you for free, in return, all I’m asking for is your email!” Sometimes your name, sometimes additionally your phone number or more.
There’s of course what I always say “simple is better”. The simpler it is, the more you can split test and work on which words are really converting and which aren’t. Sometimes, a winning copy can be changed with just one word, one colour, one button, one movement of a picture, or a change out of a picture, removal of a photo, or a line of text. So you gotta be very simple in your squeeze page. So when you build out your self-liquidating offer, make sure to always keep in mind simplicity!
What I usually use is just one sentence to begin and usually one sentence is what ends up staying until you get to your core offer that can be more of a complex page. But your lead magnet is usually gonna be something that just (at the snap of your fingers), they get instantly. Whatever that core is, I usually give some sort of value instantly stating it’s free. Usually in big capital letters, sometimes underlined, sometimes in big red text. Red is a let an idea colour that makes you stop instantly, especially in a lot of the English-speaking countries, we have stop signs. A lot of ideas behind the colour red are stop or caution.
So whatever you have that on your page, instantly gets people to pause. Especially when they’re visitors, they’re hopping and they’re going, you’re gonna have bounces naturally. So getting red text is gonna make people stop for that few seconds and read that text. Usually I say “Hey it’s a free video and with it you can do this”. It’s how-to and then my benefit and then without whatever my core audience really detests.
Sometimes it’s getting on the phone and making calls if it’s high ticket sales, because again, when it comes to high ticket sales, you have to bring them up the value add or make sure you’re building them up and of course, then you eventually have to change the selling environment as I have talked about before.
So whatever it is, again you gotta make sure you’re giving a benefit and then something that that benefit you can obtain without the normal pains and stakes that that benefit usually requires. So that’s my lead magnet; it’s usually a sentence, sometimes I show the report, sometimes it’s as simple as just the idea of the sentence and saying “Here’s the Email! Tell me the best address that I can send this to!” and then submit it. Usually I say “Get FREE Instant Access”. That’s my core button that I say submit for and then I split test from there, and I’ll say sometimes like “Yes” if they really know what my idea is. That depends on the traffic, then they’ll know this core offer of a 100 clicks a day or email mastery or your traffic mastery or sales script.
They’ll be pre-warmed and instantly understand yes this is something I came here for, I want it, give me a preview of it, what do you have. So there’s high opt-in rates because I’m simply telling them once again “Yes this is what you came for, yes this is what I’m sending you”! So it’s just getting that confirmation and of course getting people in the state of saying “Yes”, nodding their heads even though you’re across the computer and they can’t see you like how you can see me in this video, or in a podcast where you can hear me. In that text, you need to get them to mentally say yes.
So once they submit, that lead magnet is usually going to lead to your core offer. What I do sometimes suggest putting inside is a bridge, especially depending on the traffic that comes in. A bridge page is totally necessary in order to lead them from your lead magnet or your freebie, whatever you’re offering them to get their email in exchange. You need to bridge it in with “Hey, just pause for one second. This is an offer I want to extend your way”. It’s a one-time-offer, it’s just something where you can squeeze the money out of the traffic instantly and hopefully make a buck while you’re generating all that traffic!
Then of course you rely eighty percent of it is gonna come from your email and your follow-up, naturally just touching with people. And like I’ve talked about before, it’s not people seeing you the first, the second, third, fourth, fifth time. No! It’s the twelfth time! Yeah, 12 is the “magic” number! And when it comes to email, it’s really important to have a sideways sales funnel or an email sequence built out, telling your star story solution, getting them involved with who you are, what you do, why it’s so important to follow your advice in this niche of what you’re giving them the benefits for. Whatever that is, that’s your sideways sales funnel. That’s your 10-day email sequence. By day 10, where you hit it, when it’s finally number 12 (the magic number).
I’m not saying everything’s gonna come through at number 12. It’s the idea that that’s how many touches it really starts happening at. So once you hit 12, you’ve technically warmed them up and by warming them up, now when you start asking for certain things, and of course if you follow my sequence properly; at Day 4 and even Day 5, you can begin asking properly for a sale because you’ve built up the star story solution. But again, that’s something I can’t get into here.
So once you get them to a bridge page, you explain this is a one-time-offer to extend this your way. Just give it a second to see what I have to offer. Usually by doing a video that auto-plays because a lot of the traffic are looking for auditory visual, and then I’ll allow a long form sales copy below that so that way they can scroll down and read. Some people just simply let the video play and listen, let it run into their subconscious. While they’re listening, they’ll go over your bullet points, see what’s bold and some people just scroll straight to the end.
So you’re kind of like building your long-form sales copy for all different types of people. There are the auditory visual people, they’re staying right there watching the video and then they’ll probably make the decision to buy right there. So you want your order button very close by within that video. Usually what I call within the fold, which is what loads within the mobile window or even the desktop window. Obviously the desktop window will allow much more space. When it’s mobile, you’re going to really need to actually almost have a separate funnel optimised just for mobile users because 55% of my buyers end up being mobile users! And guess what! I have something that’s customised just for those users so they can see my offer and see the button immediately on their screen without having to flick up. And that’s a huge thing for people! You know we’re very instant gratification users in this day and age. There’s even a podcast where I talked about how our attention spans have been killed, they’ve been wiped out completely because of today’s instant gratification world. It’s a good thing, and it’s a bad thing, but it’s just how you use it to your advantage.
So again, my core offer is always built out so that I’m giving as much information as possible. It’s a really simple offer, sometimes like $7 or less. It’s called tripwire, I’ll just give them a video and I don’t need to explain too much after that. A lot of people will leave but again, you’ll have somewhere hopefully between five to ten percent once you have a really good converting offer that will go over purchase. Then you’ll upsell them on your one-time-offer (OTO). Once someone’s been a buyer, this is the only time they’re really gonna see this offer at this price. You can offer to them multiple times throughout the course of your emails, after Day 30 or 40. I do suggest doing that because that’s another way to monetise your email list.
You’re just giving them your other core products that go in line with this one offer that they just bought. What I do suggest, whenever someone buys something, unless it’s in the health niche and specifically supplements; if you sold them on how to generate leads, they don’t need another thing on how to generate more leads. Offer cross-products, simply “Hey here’s the meat, then here’s some crackers, then here’s some cheese”. You’re just selling each portion and piece one by one, and that’s your core piece to your upsell.
You usually have one or two to begin. You can build up as many as you want, but even though you can sell more and make more money over the long-term of everything, it’s the customers’ appreciation of you that’s gonna deteriorate. And that’s not what you want! You wanna give as much value as you can for really as little as you can. Now I’m not saying free, the only thing that should be free is your lead magnet. Because we’re still exchanging something, if I’m not exchanging something at every point in time and place, I’m not training my list properly. See, even the free lead magnet was given in exchange for their email. That’s what the idea is.
Then it’s like, once I’ve given you this video, guess what! This video has something attached to it. This video says you have to do something for me. Maybe make a post, maybe reply back, maybe click here or learn more, go through this email list, sign up here and then you get that free video. So again they’re getting opted in to another list that talks about this side idea, the side product, whatever it may be. So again, you’re really building up a lot of things from there.
But the SLO is very efficient in the sense that it’s very simple when it starts out. It’s just a lead magnet page, core offer and a one-time-offer. From there, you can make it more complex to of course increase your conversion values, your EPC, your earnings per click so that your lead magnet is very simplistic. Maybe only has one sentence: “With this, it reveals how to … without having to do this one painful thing”.
Then it leads off to a bridge page, once you get a little bit more advanced to explain “Hey, hold up I got a special offer for you! Just give me one second …” and then it re-directs. Here’s the offer and video auto-plays. Now you’re generating revenue from this traffic, and then you have someone that buys. Maybe not the first time but that’s okay. Maybe the twelfth time, you know, after those 10 days email all spread out. Then you finally get that conversion there. Then upsell on the next pain point they’re going to have.
While you can deliver as much as you can, you wanna have reasonable price points because when I finally do deliver a five hundred or a thousand dollar product, the depth I go into in those courses are much more detailed. Much more is given inside them. Much more effort, split-testing, you just simply upsell those ideas further down the line. And what you wanna do is offer your core values and your core offers at low price points. Somewhere between 7 and maybe 97 dollars. You don’t wanna charge too much, depending on the market of course.
The market will always dictate whatever someone is offering. Usually what someone offers that is similar to yours, minus seven dollars – that’s what I usually do. So if someone naturally does have a seven dollar offer, that’s it – seven dollars, just offer it for that. Then from there, you’re upselling. Your upsells can be a little bit more. They could be 97, 197, depending on again what the market dictates.
I do suggest being careful with the price points. Starting within a reasonable area that is not too low and not too high. You’re trying to break even, so don’t shoot for the stars but try to break even. From there you can split test once you’ve had that $1 in and $1 out through your self-liquidating offer because again, that’s the idea behind this. Self-liquidating offer – every dollar you put in paid advertising should come out one dollar, so that you’re creating a buyers list and a large email list.
The next thing that you offer, the next webinar that you host, whatever it may be, you just send out that email. And guess what? You don’t have to pay one dollar for that next portion of your advertising. And it’s all done because of a self-liquidating offer. So that’s where people have these fifty and hundred-thousand-dollar product launches. It’s not coming out of thin air, it’s not coming out of this “I didn’t spend one dollar in advertising”. Of course, you didn’t; you built a large email list through a self-liquidating offer just like this, and then you built your buyers list.
You built a large email list, and then you sent them your next offer. You didn’t have to pay one dollar to do that, and it was all pure profits from there. And that’s how you do it!
What I understand so far:
SLO Funnel - What does SLO stand for?
It’s a Self-Liquidating Offer funnel!
A Bridge is used to lead the customer to your offer on your sales funnel.
Self-Liquidating Offers are perfect first time funnels!
This statement is true.
A self-liquidating offer (SLO for short) is a marketing funnel tactic designed to pay for itself while feeding fresh leads into your pipeline and growing your email list. It’s a way of offsetting or completely negating the costs you have to pay to get that offer out to your customers.
Can I use a SLO to upsell my products ?
This is TRUE!
Explanation :It is possible to monetise your SLO when you upsell your product offerings to your customers.
You can use E-book, guidebook, checklist, or resource list in your SLO to entice your potential leads to give their emails.
What is a Self liquidating offer sales funnel used for?
- Creating brand awareness
- Creating a list of buyers
- Creating a list of followers
The above is an e-learning topic in the WSQ Social Media Management Course