What People Pay For Now | Ep 195

The Game with Alex Hormozi

Alex Hormozi

How To, Education, Entrepreneurship, Business

4.9 • 4.8K Ratings

🗓️ 7 April 2020

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

"People pay for you to pay attention(…) They want you to pay attention to them." Today, Alex (@AlexHormozi) discusses how to adapt to changing buying behaviors during a recession. He explains the importance of messaging, focusing on savings, and providing more value for the same price, as well as the significance of giving attention to customers.

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 on his path from $100M to $1B in net worth.

Timestamps:

(0:55) - Messaging shift from prosperity to preservation doctrine for clients

(2:13) - Present offers as best value, not premium, focus on savings

(3:51) - Structure operations for operational efficiency and customer value

(6:22) - Small group studios provide status and credit to clients

(9:09) - Communicate changes to customers as more valuable and discounted

(11:59) - Monetize free and discount offers to acquire customers, create an efficient model

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Transcript

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0:00.0	Real quick, guys, if you can think about how you found this podcast, somebody probably
0:03.8	tweeted it, told you about it, shared it on Instagram, or something like that.
0:07.6	The only way this grows is through word of mouth.
0:10.0	And so I don't run ads, I don't do sponsorships, I don't sell anything.
0:13.2	My only ask is that you continue to pay it forward, do whoever showed you or however you
0:17.0	found out about this podcast that you do the exact same thing.
0:19.6	So if it was a review, if it was a post, if you do that, it would mean the world to me,
0:23.4	and you'll throw some good comment out there for another entrepreneur.
0:25.7	You can adapt and buying is actually stronger if you have the correct messaging.
0:31.9	Welcome to the Jim Secrets podcast where you talk about how to get more customers,
0:34.8	how to make more customers, and how to keep them longer.
0:37.3	And the many failures and lessons that we have learned along the way,
0:40.7	I hope you enjoy and subscribe.
0:44.0	What's going on everyone?
0:44.8	Happy Tuesday.
0:45.2	Hope you guys are rocking and rolling and ribbon and roaring and doing all the things that you are,
0:50.0	or should be doing for your business to grow.
0:54.0	I wanted to talk about a couple things right now because we are in a recession or about to be in
0:57.9	one. It's all wanted to cover what people pay for now.
1:02.2	And kind of a how to change your messaging, b how to change your product and pricing,
1:06.8	and c at least a special note for anybody who's in fitness, how to make more valuable services.
1:12.8	Okay. So what people pay for right now?
	...

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