Founder at Marketing Online
Alex Mandossian is the CEO and founder of MarketingOnline.com. Since 1993, Alex has generated nearly $410 million for his business, his students and JV partners.
His colleagues regard him as “The Warren Buffett of Conversion” because of his unique ability to complicated strategies into simple, actionable tips can double your income and triple your time-off.
Alex’s proven conversion strategies helped convert his own annual income in 2001 into a monthly income by 2003 and then into an hourly by 2006 (not every hour, but he did do it 16 times that year). His conversion principles are also responsible for Alex’s biggest payday to date: $1.2 million in 29 minutes!
Tactic that has had the biggest impact on Alex’s success
Utilizing the “COI” (Cost-Of-Inaction) method to enroll high-end clients from a one 45-minute discovery session
Result if you follow the steps in Alex’s session
Convert more leads and generate more sales online
Full session with video, notes, audio and discussion inside EHQ Club. Learn more
Expert session snapshot
The first step is a lead magnet. Fancy word. It’s kind of like an ethical bribe, it’s bait, its marketing bait. And enough, I could spend, you know, 25 minutes just on lead magnets. It should be one page. It should be high value, and it should be simple to digest in less than 10 minutes.
I have one of my lead magnets called the discovery script template, you know, 13 fool proof questions we use for our discovery sessions. And we’ve used this to convert in 45 minutes, hundred thousand dollar clients, $60,000 clients, $30,000 clients $12,000 clients. And so that’s a one pager. I have it laminated because I like to spill coffee on it just in case. So that’s called a lead magnet.
Okay, number two. They said, so before you’re about to have an exchange with a client, because we teach how to attract and convert high end clients, I mean, a $10,000 client is more valuable to us than $100 client. And we say even though it’s not believable, it’s just as easy to get a $10,000 client as it is $100 client, if you go through the conversion process.
So in step two, the assessment or the intake, it’s kind of like going to a doctor’s office land. And before they do the diagnosis, they give you some paperwork to fill in, so they know which direction to go and ask you, you know, have you ever broken a leg? Do you take any medication, where does it hurt, you know, and your back or leg or sciatic nerve, whatever. So that’s called an assessment and most people don’t do that. That’s part of the pre qualification process.
Next is the orientation video. Now, we want to indoctrinate people in doctrine. What do we believe in? What are our values we’d like to indoctrinate them before we meet them. A video, they get to see you. And it’s brief. It’s about four minutes. And it kind of tells them what they’re about to experience in this strategy session or discovery session, as we call it.
And this is where most people fall apart, because this is where you ask for the sale. And that’s what the 13 questions are about. That’s what this one page 13 questions. It works. It’s working for people who are afraid of their shadow in sales, they hate sales, and it works for them.
You know, they hate sales Enos, they hate manipulation. They hate all that. And this is not about that. It’s about coaching people through that process.
And so the discovery session is about 45 minutes to an hour, and it’s designed to get high end clients. Now, I’m going to assume, if you’re starting out, a high end client is $10,000. I’m also going to assume if you’ve been around for a while, a high end client is $50,000 or more, and anyone in any business even obscure businesses can get high end clients if you know how to structure it.
Now step five is to make the offer. And that you make the offer during the discovery session, they know what’s coming, right? You’re not pouring cold water over them.
And it needs to be three pricing options, super high, a steep drop, and then even farther drop down. So that way you can downsell if you need to. So they’re saying yes, no. Or no, yes. No, no, yes. Right? Or yes, no, no, right?
So it just depends on what they want. But it’s not a surprise to them, because you’ve oriented them, then you have a follow up with a deadline. And the deadline is, look, I’m going to be having more discovery sessions with more people.
So this offer is good until okay, and there’s all their scripts attached to that and then a referral request. And this is really cool.
Liam, I wanted to share this with you because we didn’t talk about it. You ask a referral from buyers and non buyers, and some of my hundred thousand clients, hundred thousand dollar clients, I have seven of them right now. Four of them came from non buyers, they referred me hundred clients. So going after non buyers is really important.
So that’s the seven step process.