Funnel hacking 💡

Good afternoon! Another day, another tech company announces layoffs. This time it’s Spotify cutting 6% of its workforce.

It’s just the latest company announcing cuts after Google, Microsoft, Twitter, Meta, and Salesforce all did the same.

We’ll dig into WHY they’re all doing this today, plus…

• Bitcoin Rally - Crypto Hits Highest Mark in 5 Months

• Spotify - Streaming Giant Cuts 600 Jobs

• Paid Ads - Meta Updates Terminology In Accounts

• Funnels - Simplify Your Sales Funnel ASAP

• Instagram - Best Posting Practices for 2023

• Spotify Cuts 6% of Workforce - In the latest round of tech layoffs, Spotify announced it’s cutting 6% of its workforce. That works out to about 600 jobs. It’s just the latest in a long string of tech layoffs we’ve seen in recent months. Here’s why the company is cutting costs…

• Meta Updates Terminology In Ad Campaigns - If you run ads on any Meta platforms, listen up. The company is changing its naming conventions inside the platforms. This won’t have any impact on your ads themselves, but it will change your reporting. Check it out…

Simplify Your Funnel - 5 Steps

Are you tired of struggling to create high-converting sales funnels?

Well, we’re here to tell you, you're not alone. We see so many entrepreneurs making the same mistakes - trying to make their sales funnels too complicated.

This is especially true for beginners!

But here's the thing, a good sales funnel only needs 5 core elements to be successful.

That’s right, a good sales funnel only has 5 pieces to it. Adding in extra pieces will just muddle your message.

Here they are…

#1 - A SIMPLE Ad

The first thing you need is an ad - but remember to keep it simple. Too many people try to SELL their product in the ad.

That’s a HUGE mistake.

The ONLY purpose of the ad is to get a click. Let the rest of the funnel do the work of selling. The ad is just for grabbing the reader’s attention.

#2 - An Opt-In Page

You’re NOT selling here either. But too many people try to do that!

The opt-in page is where the customer lands after seeing your ad. This is also where you follow-through on what you promised in the ad. Give them a free gift or discounted item in exchange for their email address.

Instead of selling, you get their email address and continue the relationship.

#3 - The Low-Ticket Offer

THIS is where you finally start selling.

After they’ve opted in, give them the opportunity to purchase something inexpensive. This is often called a “tripwire.”

It’s meant to get the customer in the habit of purchasing.

#4 - The Mid-Ticket Offer

Once the “purchasing process” has begun, it is MUCH easier to sell higher priced items.

Moving up from the smaller-ticket item is a mid-level item. These aren’t super expensive, but they are definitely more expensive than the smaller-ticket item. Think of anything in the $30-$99 range.

#5 - The High-Ticket Offer

Just make sure you provide more value in line with the price.

This is where the real money is made.

If the customer likes your mid-ticket offer, there’s a strong chance they’ll buy your more expensive offers.

High-ticket offers are usually more personal or of a much higher value. Think of things like access to a paid, exclusive webinar, or access to a private event. These can cost thousands of dollars per item.

Those are the 5 key elements of a sales funnel. Of course, there are limitless ways to personalize and customize your funnel to your product and business.

Entrepreneur Stat Of The Day

68%

That’s the percentage of companies that DON’T measure their sales funnel metrics, according to Salesforce.

Hint: Be part of the other 32%!

Instagram’s Best Practice for 2023!

There are now more than 2 billion active users on Instagram, making it the world’s 4th most-used social platform behind only Facebook, YouTube, and Whatsapp.

And while you may have been using Instagram for your business or marketing for a while, there are some BIG changes you need to account for in 2023.

This year, the company is doubling down on “Reels” its answer to TikTok’s short-form videos.

So if you want to reach the widest audience with your posts, you need to adapt with the platform.

In this guide, you’ll discover all of the best posting practices for 2023. As is always the case with social media, what worked one year is not always what will work the next.

This has best practices for:

• Building your brand presence…

• Short-form video…

• Hashtags…

• Captions…

• And best posting times…

Check this out before your next Instagram post!

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