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 learn on his path from $100M to $1B in net worth.Wanna scale your business? Click here.Follow Alex Hormozi’s Socials:LinkedIn | Instagram | Facebook | YouTube | Twitter | Acquisition Mentioned in this episode:Get access to the free $100M Scaling Roadmap at www.acquisition.com/roadmap
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I was talking to Mr. Beast about this concept and I was like, yeah, I know we need to work on our headlines. They're a little bit too click baiting. I remember he stopped and he was like, absolutely not. And I was like, what do you mean? He was like, you should absolutely have click bait headlines. He's like, they should just be true. They should be baiting the click.
But then when the person gets in, it's exactly what they thought it was going to be. The deception comes from when someone thinks it's something and it ends up being something different. The big question is, should you focus on getting more traffic? And for most businesses, the answer is yes, because the return on investments on increments are by definition incremental.
Whereas if you can increase inputs 100 fold, they are orders of magnitude difference. If you have a conversion rate, let's call it of 2% on your about page. And that would be a benchmark, right? That would be about normal. 4% is the one for everything on school. But let's just say, well, let's just say 4%. Fine. So your average there. Okay, fine.
Now, you can tweak a lot of things to try and go from 4% to 5%. That would be a 20% improvement. But most times, if you were to take your income and raise it by 20%, you'd probably be happy. But especially if you're earlier on, you want to increase in order of magnitudes.
And to be clear, if you're later on, you want to increase in order of magnitudes as well, because it will relatively be the same to you. And so going from $1,000 to $1,200 is the same as going from $1 million a month to $1.2 million. But much more fun to go from $1 million to $10 million or from $1,000 a month to $10,000 a month or more.
And so most of the large increases in revenue that occur come from order of magnitude implementations, things that change the dynamics of the game. And so one of the obvious ways of doing this is building traffic or increasing traffic through making content.
Big picture, a lot of the content that's out there has what I would consider too little pre and too little post, meaning basically no preparation and no post-production. meaning it's just shit.
On top of that, the actual content itself isn't really based on anything besides someone having some verbal commitment to themselves that they're going to, quote, make content rather than solve problems for their audience or their customers.
Big thing number one that I'll state outright, which is that if you have customers, when you make content, if they get value from that content, they will still ascribe it to the thing they bought from you.
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