4.9 • 4.4K Ratings
🗓️ 31 July 2024
⏱️ 31 minutes
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"Customers are bloodhounds for value." In this episode, Alex (@AlexHormozi) explains a framework for different ways that you can make your offer more attractive and ultimately drive to more positive word of mouth, repeat purchases, and higher conversions.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned and will learned on his path from $100M to $1B in net worth.
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0:00.0 | I talked to a room full of business owners for eight hours about how to make more money. |
0:04.0 | Here's one of the best moments about how to improve your offer. |
0:06.4 | So there's something in the software called willingness to pay, which is like what's the thing that gets people to want to buy? |
0:11.9 | And so they plotted everything across this chart |
0:13.8 | in terms of the features. |
0:14.6 | Like what are the things in the offer |
0:17.0 | that had the highest willingness to pay |
0:19.4 | that people valued the most? |
0:20.3 | So you want to be in this box over here. |
0:22.1 | And the four things that they found were exclusive. |
0:28.8 | One was access just so we have buckets to think about this through. |
0:34.4 | Exclusive content, exclusive events, and the way they ran this research study, they had newsletter, which to me is content, but I'm |
0:47.6 | assuming that this is, basically this is probably video that was written. |
0:52.1 | And so those are the four biggest things |
0:53.5 | that have willingness to pay. |
0:54.2 | And so they also looked at like exclusive merch, |
0:56.7 | discounts that were associated with the community. |
0:58.8 | They looked at priority support. |
1:00.3 | Like, they had a number of different things |
1:01.6 | that they looked at. But the thing looked at but the thing that had the |
1:04.3 | four that had the highest willingness to pay were these four things so these are the things |
1:07.9 | that people valued the most within the context of a recurring community. |
... |
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