Full Episode Transcript

Hey, hey, Erin Kelly here. So we are starting off the week, I hope you had a wonderful Valentine's Day, if you don't really celebrate Valentine's Day, which we don't really, we don't really celebrate it around here other than the chocolate. But if you don't celebrate, then you can just ignore the Happy Valentine's Day, or send a bah humbug my way. But we, we always like any excuse to have chocolate around here. So that's pretty much we get the lovely Valentine's chocolate heart and call it a day.

So today I wanted to talk about I've been thinking about options and options to increase engagement options to increase sales. And I was thinking about there's there's three different areas that I know that if you Institute them that you will see an increase engagement and an increase in sales. And so I'm just going to quickly break them down here, and then I'll go into them a little bit in more depth.

So the first one is, payment options, like making sure that you have multiple payment options. And so, again, I'm going to go into that a little bit in more depth, after I go through the the first or the three items. But the next one is accessibility options, a second accessibility consumption options like preference consumption. I totally flip flop that consumption preferences. And then the third one is support options. So and you can also look at this as like access to you options.

So the first one, I want to go a little bit deeper into his payment options. And so there's two really easy ways that you can have more options with your payments, you can and I'm going to make this specific to MemberVault. But you can include both stripe and PayPal. Because people there are always going to be people that prefer paying via credit card or paying via their PayPal account. And I know that I've talked about this in other podcast episodes, I talk about this frequently in the collaborative user group. And there's always kind of resistance around having PayPal for different reasons. And some people just don't like them as a company.

Other times, you know, people bring up well, people can cancel their payments, or whatever. And it's easier for people to cancel their payments. And in my opinion, Yes, that is true. However, if people want to cancel or have refunds, or whatever chargebacks are whatever, they are going to do it. And so yes, it is a little bit easier with PayPal. But it also opens up an opportunity to reach out to that person and see why they cancelled, a lot of times, it's actually accidentally, they forget, or whatever they thought that it was like a mistake that they were still being charged or, you know, there's different reasons.

And so a lot of times, it's really just a reach out. And that by not having it, you're actually you're putting your emphasis on the potential negative instead of the positive, which is a lot of people prefer to pay via PayPal, just out of convenience. And so when you don't have that as an option, because you're worried about the potential cancellations in the future, that you are depriving yourself of sales from people that are a lot of them are going to be, you know, impulse buys or convenience buys or, you know, just we're all very busy.

And so if they are interested in buying your thing, and you don't have an option that they need to be able to pay, they may or may not come back and pay in the future when they do have that information, right. So whether it's their credit card, or whatever. And so if you can give them more payment options in terms of having both stripe and PayPal, which is easy for you to set up inside a member vault, you are going to see more sales like we definitely see like a 50/50 split in terms of the sales that we have through our membership site where we have PayPal and Stripe.

So definitely highly, highly recommend if you don't currently have that, to set that up. And we actually in our Action Lab for Optimizing an MV Product. Someone has listened to that podcast episode that are specifically talking about adding PayPal as an option, having both Stripe and PayPal to be specific. Like I totally had never thought about that. So I added it and like I already have a sale via PayPal. So it's just making it easier and more convenient for people sorry, like there's family members going past that close or if you can hear them.

So the other thing that you can do with payment options is making sure that you have multiple payment type like payment plan types, right? So you can pay in full, or you can have a payment plan. Obviously if your product is like $47 like that's not really something that you necessarily need to think of.

Although you certainly could, right because everyone, especially depending on your audience, like if you have an audience on if it really fixed income or that are very price sensitive, and even on low cost offers having a payment plan is going to make it easier for some people and again, a lot of people don't do that because they're worried about people you know, canceling before their payment plan is complete, etcetera. And that does happen, right? Like that does happen. And we have that happen too. And so it does, does require more back and forth.

But it is, in my opinion, you are losing out on sales, and positive customer experiences because of the fear of a few people defaulting on their payments. And a lot of times again, it's a mistake, like their credit card expired or something like that. So, you know, it's not always a hated this product, and I'm not going to finish paying for it. And so that's, you know, that's definitely something to consider.

And it goes even beyond payment plans, I know, we actually have quite a few member wallet users that have done pay what you can or pay what you want options for their products. And they've seen a lot of success, and a lot of community love. And engagement and positivity come from that so and higher sales as well. So that definitely falls under the more payment options as well, if it's something that you're interested in looking into is, is having a pay, pay what you can or pay what you want. option.

So the next thing, the next higher level umbrella is the the accessibility or the consumption preference. So and I say I say it kind of like accessibility slash consumption preference, because, and I talked about this in the accessibility episode. You know, there are people that need the transcripts, or captions, or whatever it is. And then there's people that just prefer it. And they don't necessarily need it to be able to consume that content, but they prefer it.

So we ran into this with the the podcasts that we did called Optimize Your MV product. And we did not have a workflow in place that we were we knew we were going to do transcripts. But we didn't have a workflow in place to get the transcripts done before we launched the podcast. And we had quite a few people that were like, I don't need the transcript. But I actually don't like listening to podcasts. And you could translate that to also I don't like listening to audio, right. And so I'm waiting until the transcripts come out.

And so this is really, if you were looking at your free offers and your paid offers, look at ways that you can increase the options of how people consume, both for accessibility, but also for people that just prefer to consume the content in a different way. So that could look like let's say you have like a workshop replay, like having a transcript for that. So people can just scan read through it.

And having timestamps so that people can skip ahead, having captions, obviously, doing worksheets, you know, and obviously, this is something that you are probably going to do as you continue to optimize a product is not going to be something that you necessarily launch out of the gate. Unless you're unless this is something that you've done quite a few times, and you have a workflow in place.

But I know we're still working on that with our own content. And so it does, it takes time. But just know that the more options that you give for consumption, the more likely when people are looking at that sales page or that landing page, they're going to be like, oh, okay, I thought this was just going to be a video and I hate videos, or I thought this was just going to be audio and I don't like that or it's only going to be live, live calls. And I can't make live calls or whatever.

And so by having those additional options, you're making it much more customer centric, you're making it more available to a larger group of people. So that will definitely increase both your sales and your engagement. And then the last thing is, I said support options. But really it is like access to options was what I was looking at, when I was brainstorming this episode. And that is, you know, if you have a digital offer, considering having a VIP element, so like, yes, you can buy it for $97 with just the digital. Or you can buy it for $500 and get the digital plus an intensive with you or something like that.

And now that we have our new tags, action tags triggers, based on payment type for a single product, like you can make that really easy by just going into a product that you have in member vault. And you can have a base price and you can have a VIP price or an intensive price or however you want to structure that. And it doesn't have to look like necessarily like a one to one call. It could be let's say it's a digital offer. But you also once a month to do a live workshop to do hot seats, or to answer questions live. And obviously, again, going back to the options, right?

The accessibility options is that you know, for the live workshop, consider using a program that does auto captions, or, you know, offering the replay with captions and a transcript, etc. And so it's like, Okay, again, you're giving people options, even if they don't like watching videos, or if they can't watch videos and consume it that way. And so you are not only giving them more access to you, but you're also giving them additional options to consume that content. And so, so you can do that a lot of different ways.

The access to you again, doesn't have to be a one to one call with you, it could be a emails that I've done this before and it was really successful is let's say you have a base product, and then you have a higher level version of that product that includes the base content. But also they can get like an assessment from you that once they've gone through the digital content, and they've answered some questions that you will get a notification from MemberVault. If you set it up inside of actions, to go and review those quiz answers. And to then do I've done it multiple different ways.

I've done Voxer audios I've done Loom videos, and then I've done email, which actually the emails were the most popular because people really liked that they could go back and like review it. And again, this goes back to first of all, I'm not perfect, because I did the live videos without offering transcript. But that, you know, people do like to be able to consume content differently. And they like to be able to go back and review it. So like honestly, I think if I had done a Loom video with transcript, that that would have been like, a really great sweet spot, because honestly doing the email took me a long time, but the video took less time.

So if I had done the combination of Loom video plus transcript that probably would have been best for everyone. But I've done all of those things. And that goes for Voxer too, if I'd done a transcript for that. So yeah, just be really looking for opportunities to have additional options, whether it's payment options, you know, content consumption type, options like transcripts and captions, etc. And then access to your support options for different products.

So that if someone needs the base product, they can buy it, like they can buy that lower cost product, but if they want to spend a little bit more and get a little bit higher touch that you have that option as well. And so that's going to increase your cash flow, you didn't have to create a whole nother product for it. You know, you didn't have to create a whole nother thing.

You're just adding another kind of layer with a higher price because it's more access or more, more support. And and so that you're supporting your people more, your bottom line is going to improve. And you're also going to see more engagement because all of these things can also pretty much be applied to two free offers as well. So hopefully that gets you thinking and I will see you tomorrow. Well talk to you tomorrow.

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• [Transcript] 3 Ways to increase engagements & sales for your offer