From $21K to $53K Per Month in Just 93 days

How does a business skyrocket from $21,000 to $53,000 per month in just 93 days? James and GrowthLabz’s Will Wang look at the business growth accelerator behind a client’s phenomenal gains.

Podcast: Download (Duration: 33:52 — 31.3MB)

Will Wang from Growth Labz is a popular guest, and he’s back on the show, discussing the business growth accelerator plan that grew a client’s revenue from $21,000 to over $53,000 in just three months.

James and Will delve into the step-by-step process behind this business case study.

They’ll unpack the strategies and results of effectively leveraging the basics of business.

And they’ll provide listeners with practical insights to create their own business growth.

Grow fast. Bypass the mistakes. James is here to help.

Table of contents:

1. What was expected
2. The situation to start with
3. The impact of a good product
4. A lot of potential…
5. Will’s usual first step
6. The process of positioning
7. What is your best-performing product?
8. Examining the product mix
9. Scaling the thing
10. Going evergreen
11. What other people might be missing
12. A look at the email aspect
13. New perspective on niching
14. The power of fundamentals

What was expected

Will’s client had expectations based on a previous successful case study discussed on an earlier podcast episode, where a business grew by $80,000 in a few months. Despite the impressive results of some businesses, Will emphasizes that he never promises to double a business in 90 days but aims for realistic growth targets of 10% to 20% month-on-month, with the goal of doubling the business by the end of the year if conditions are right.

James acknowledges Will’s transparency. He’s seen the consistent success of GrowthLabz clients who benefit from their robust sales and marketing strategies, creative campaigns, and strong copywriting skills.

Download 10 Steps to Significantly Grow Your Business in 3 Months (and the PDF transcription)

The situation to start with

This particular case study, says Will, involves an online health and fitness coach, a highly competitive industry, and focuses on growth through warm emails and Facebook ads rather than cold outreach.

When Will first examined the client’s business, he found it to be highly product and client-focused, something he looks for particularly in clients he works with. The founder was an expert in health and fitness but lacked marketing skills, leading to common mistakes like not leveraging assets such as an email list and having disjointed marketing efforts.

Despite the business’s strong product and client satisfaction, it was not well-promoted, making it, Will puts it, the industry’s best-kept secret. It’s not unusual, says Will. Many businesses with great products and people fail to market themselves effectively.

The impact of a good product

James thinks the part about having a good product is important.

Having worked at Mercedes-Benz, James has seen the power of a great product. Mercedes’ well-branded and highly esteemed offerings created high expectations and customer satisfaction.

In recurring subscription businesses, a great product ensures longevity, reduces the stress of constantly acquiring new customers, and fosters long-term relationships. James can speak to this, having clients who have stayed for over a decade.

A lot of potential…

Will found that his client’s email list, though not very large at 5,300 subscribers, had good open rates of around 20%. The list wasn’t being utilized effectively for its size, which presented a lot of potential for quick wins and long-term growth.

Will looked for low-hanging fruit that could provide a quick cash injection, boosting the client’s confidence and silencing any critics. He also considered mid-term and long-term goals to ensure sustained growth, avoiding the pitfalls of strategies focused solely on immediate gains without future planning.

Will’s usual first step

Before launching a quick cash campaign, Will assessed the client’s offers, targeting, and product positioning. This initial step involves understanding the product’s unique value and how it’s presented to the market. It’s not uncommon that business owners may undervalue their offers due to their close proximity to the business.

Identifying what differentiates the product and why customers choose it is crucial. Despite the business generating $21,000 a month, they hadn’t fully grasped their product’s unique appeal. Examining branding, assets, offers, and price points was essential to uncovering and leveraging their true value.

The process of positioning

Will’s process of positioning involves analyzing success stories and identifying what sets a business apart from the competition. He cites Brenton Ford, a long-term client of James with exceptional growth, as an example of how longevity and substantial results can distinguish a business in the market. Few coaches can boast of a client having being with them for 15 years.

Will compares what the rest of the market is doing versus the unique approach and results of his client’s business. He talks of understanding the “truth” that the market needs to know, which often involves challenging common misconceptions, such as promoting sustainable business practices over quick cash grabs.

Thorough research includes interviewing customers to understand why they chose the business and the results they’ve achieved. This informs the reshaping of offers and market approaches, highlighting unique aspects such as a different approach to health and fitness, which sets his client apart from others who focus on traditional methods.

What is your best-performing product?

Will’s first campaign, a quick cash initiative, was where they identified the client’s best-performing product, improved it, and resold it to previous buyers and the entire email list. They segmented the email list into those who had bought the product before and those who hadn’t, offering loyal customers a bonus or discount for repurchasing the improved product.

This campaign generated $23,000 from a $97 product, providing extra cash to reinvest in growth. Will insisted that most of the earnings go back to the business owners, with a portion allocated to scaling ongoing growth through advertisements.

Examining the product mix

Will’s second strategy examined the product mix, focusing on the core $97 product and a high-tier one-on-one coaching offering. Previously, clients had to go through multiple lower-tier products before accessing the high-tier coaching.

James has often questioned the effectiveness of this ascension model, notably in a chapter of his book, Work Less Make More. While some clients do move up through the tiers, many go directly to higher-tier programs if given the option.

To address this, Will decided to market his client’s high-ticket coaching directly, appealing to clients who prefer immediate access to premium services.

By running Facebook lead form ads targeting the high-ticket product, they simplified the application process with custom questions that engaged potential clients. This approach resulted in $22,000 in sales from a $1,100 ad spend, achieving a 22x return on investment, with an 80% call show-up rate and the majority of the revenue collected over three months.

Scaling the thing

Will plans to scale ad spend to $3,000-$4,000 per month, with a hard limit on scaling due to the one-to-one nature of the coaching, which caps the service capacity at about 100 clients. They can further scale by hiring more coaches, but that’s more of an operational challenge beyond his expertise.

James recalls the “marketing capacity seesaw,” where balancing marketing and service capacity is crucial. Will agrees, adding that they will scale the business to match the owner’s ambition, aiming for seven figures by addressing capacity issues with group coaching and being prepared for client churn.

Going evergreen

Will describes his third tactic as an evergreen campaign, using low-ticket products to build a paid waiting list and familiarize people with the brand.

They created a funnel with two products: one priced at $19 and the core product at $97, which helps onboard new customers and guide them through a natural progression to higher-ticket offerings.

This campaign involves running $150 to $200 worth of ads per day, achieving a two-time return on the $19 product, effectively getting paid to provide samples. This setup creates a steady groundswell of potential long-term customers ready for future offers, supplementing the immediate revenue from higher-ticket items and one-on-one coaching.

Will plans to scale the ad spend to $1,500 per day, aiming for over $100K in monthly sales, including upsells. The evergreen campaign also grows the email list significantly, offering opportunities to promote affiliate products, develop new offers, and potentially run sponsorships, turning it into a robust, recurring revenue machine based on the business owner’s capacity.

What other people might be missing

Will’s client had things going for them – a strong understanding of their customers and valuable data from past campaigns, which provided a solid foundation for scaling efforts. This prior knowledge allowed them to increase campaign success from $6,000 to $23,000, leveraging existing insights to drive growth.

For businesses lacking customer data, product-market fit, or differentiation, it would be more challenging but not impossible to achieve similar results.

Despite the costs of engaging an agency, the case study’s business owner experienced a 50x return on investment from ads alone and remains highly satisfied, with future growth prospects looking even brighter due to the compounding effects of an expanding email list.

A look at the email aspect

Will’s initial five-day email campaign successfully reengaged his client’s list list and generated most sales over two and a half weeks.

New customers receive about 10 emails over 20 days, with natural upsells and progression based on the product or service.

For high-ticket products, they use a series of five emails over 12 days, featuring case studies, testimonials, and results, with some sales funneled down to lower-tier products if not immediately converted.

The email list campaign targeted warm prospects, resulting in sales from both previous and new buyers, while new front-end applications came from cold traffic. It was, overall, an effective email strategy.

New perspective on niching

And what was Will’s takeaway from the case study?

Will’s experience with the client has changed his perspective on niching. While many gurus advocate for hyper-niching, large successful businesses often serve broader markets. Will now sees value in balancing niching with a broader market approach by communicating the product differently to appeal to a wider audience.

Applying this insight to his own business, Growth Labz, Will recognizes the risks of being too niche, especially in volatile industries like tech. By broadening their target market and emphasizing unique selling points, businesses can mitigate these risks and potentially achieve more substantial growth.

Will stresses the importance of understanding the economics of a business, noting that focusing solely on marketing and copywriting isn’t enough. By improving the overall economic structure, including easier purchase paths and better offers, businesses can achieve better results, underscoring the need for a comprehensive approach that includes evaluating market trends and fundamentals.

The power of fundamentals

James appreciates the fundamental approach in Will’s case study, which focuses on improving the conversion process, patching holes, and re-engaging previous buyers. They also look at offering products that meet current needs without unnecessary hurdles, and creating a paid waiting list to better understand prospects.

Will agrees. While their results may seem impressive, the core of their success lies in fundamental business and marketing principles, along with a solid understanding of psychology. He points also to the importance of strategic planning and integration of all business aspects, not just marketing.

These fundamental principles are universally applicable to any online business.

If what Will does is interesting to you, and if you’d maybe like to be the next case study on the show, you can contact Will at GrowthLabz.com.

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