Funnel Hacking Live 2021: Day 1 Key Takeaways
By Nathan Gwilliam
Funnel Hacking Live is a four day live conference hosted by Russell Brunson and the ClickFunnels team, and packed with incredible speakers. In this year’s event, the world’s most successful funnel builders focused on how to create funnels, how to get traffic, and how to leave an impact and legacy.
I attended Funnel Hacking Live for Day 1 and I will be attending during the additional days. Each day I will host a live stream at Monetization Nation to share with you the most impactful points.
The first day of Funnel Hacking Live started off with the incredible entrepreneurs and speakers Russell Brunson, Todd Dickerson, Anthony Trucks, Kaelin Poulin, Kathryn Jones, Myron Golden, Rachel Miller, and Jim Edwards. They all shared how to build our businesses on a strong foundation.
In today’s episode, I want to share my key takeaways with you.
Russell Brunson: Characteristics of Entrepreneurs
Russell Brunson is the co-founder of ClickFunnels and host of the Funnel Hacking Live Conference. During Day 1, he started off by saying, “Surround yourself with the dreamers and the doers, the believers, and thinkers, but most of all, surround yourself with those who see the greatness within you, even when you don’t see it yourself.”
He continued on and shared the following points and stories:
1. There are four levels of value or four ways to make money.
– Implementation: This is using our muscles and trading our physical efforts for dollars. This often taps out at $30k — $50k a year.
– Unification: This is done through management skills. This is about bringing people together and producing an output as a team. This often taps out at $50k -$150k a year.
– Communication: This is generating income and value through our mouths such as with sales.
– Imagination: This is where we use our mind to create money. We have a vision and create something. This fourth level of value has no top ceiling.
2. An entrepreneur is someone who takes personal responsibility for a problem that isn’t their own. While everyone else typically runs away from the problem, the entrepreneur sees the problem in the market and says, “That one is mine.”
3. Entrepreneurship is not directly correlated with performance in school. Russell Brunson had a 2.3 GPA and got a C in his marketing class.
4. Russell believes we each have been called by God to serve others. Russell shared the quote by Napoleon Hill which says, “There is one quality which one must possess to win, and that is definiteness of purpose, the knowledge of what one wants, and a burning desire to possess it.” We have to decide and say exactly what we want so we can get it. 98% of people in the world are drifters and only 2% of people move forward with definiteness. If you make decisions out of fear, that is drifting. The majority of society today has shifted to fear.
5. Characteristics of a non-drifter:
a. Definiteness of purpose
b. Mastery over self
c. Learning from adversity
d. Controlling environmental influence
e. Positive thoughts
f. Thinking before we act
6. Six most effective fears of drifters:
c. Ill health
d. Loss of love
e. Old age
7. Russell also brought up a concept from the book, Atlas Shrugged. The concept is about a Prime Mover, something inside of a physical object which literally causes it to move, create, or achieve (like an engine). Entrepreneurs are prime movers in this society. The change that needs to happen to improve our world will happen through entrepreneurship, not government. Atlas carried the world on his shoulders, and often entrepreneurs feel like they are carrying the world on their shoulders. As Shakespeare said, “Heavy is the head that wears the crown..”
Todd Dickerson: ClickFunnels 2.0
Todd Dickerson, the original creator and co-founder of ClickFunnels, joined Russell Brunson on stage and they spoke together. They shared the journey of ClickFunnels. ClickFunnels now has more than 100,000 active members, has had $7.3 billion in sales processed through the platform, and has 1,500 total Two Comma Club Members.
In the past, Russell and Todd were approached about selling ClickFunnels for $1 billion, however they ultimately decided not to sell. They had a vision in mind for a greater future, something they have been working on for more than a year.
At ClickFunnels, Russell and Todd decided to rethink everything from the ground up and more into a bigger range of features and updates. They want to eliminate what sucks about running a business and focus on scaling, speed, and future growth. Tomorrow, they will show ClickFunnels 2.0 and the work they have been doing for the past year.
With this exciting announcement, Todd left the stage and Russell took everyone through an advanced funnel audible.
Russell Brunson: How to Improve Funnel Conversions
For those who don’t know American football that well, an audible is when the quarterback changes the play at the line of scrimmage. Russell used this term to describe a funnel: the advanced funnel audible.
He started by sharing a story of a failure he had losing the first wrestling match of his senior year. His dad helped him figure out what he did wrong, they practiced it for four months, then he beat the same guy with the same move to win the state championship.
The key takeaway here is that we shouldn’t give up after our first failure. Russell wasn’t successful until the 6th funnel he created when launching ClickFunnels. We shouldn’t quit after the first, second, or third failure. We should continue on improving. Russell explained we should focus on creating simple funnels that are easy to test over and over again.
He also shared seven secrets to improve funnel conversions:
Secret #1: Understand Marketing Math
1. First number we need to understand is CPA (cost per acquisition)
2. The second number we need to understand is ACV (average cart value) — How much money does that customer spend in the funnel on average?
3. We should make sure the CPA is less than the ACV
Secret #2: Find the Control
1. The purpose of Funnel Hacking is to get to a point of control
2. The initial goal is to find “The Control”. Find a funnel that is already working successfully (the control) and create your own version of it.
Secret #3: Increase ACV
1. Ultimately, the business that can spend the most to acquire a customer wins — Dan Kennedy
2. With a funnel, one of our big goals is to increase our ACV. We can work to increase this ACV by adding more offers in our funnel.
3. However, we should beware of “Upsell Hell”. We don’t want to add lots of pages in our funnels. We may make more money in the short term, but our customers will hate us in the long term if we do this.
4. When we write the copy/webinar/pitch, we should only sell one thing, however, after the pitch we can show multiple offers.
5. Russel has been adding offers on the thank you page which has been working well for him.
Secret #4: Decrease the CPA
1. Making ads is the secret for making money in your company. We should make two more ads. We should keep making ads to find the variations that will perform well.
2. 7 types of successful ads (from Chamber Media)
a. Spokesperson ad — person explaining the product
b. Product demo ad — demonstrate the value to the customer
c. Social proof — opinions of others to create trust
d. Closer ads — overcoming objections
e. Case study — showing product being used in everyday life
f. Lifestyle — showing how a product increases quality of life
g. Unboxing — showing the experience of getting the product
Secret #5: Understand Earnings Per Click (EPC)
1. If your EPC statistic is not high enough, that means you have a brick wall on your landing page. To fix this we can run different tests to find what works best. The most testing should happen on our landing page.
2. A high EPC means that we have an offer we can scale.
3. 4 tests to do on the homepage:
a. First test: test radically different landing page styles. The winner becomes the control.
b. Second test: test radically different headlines. The winner becomes the control.
c. Third test: test radically different offers. The winner becomes the control.
d. Fourth test: test radically different leads. The winner becomes the control.
Secret #6: Let the market vote with their credit cards
1. The only people whose opinion matters is the customer. Let them vote with their credit cards.
2. Take the Potential ACV and invest that in ads to do initial testing
3. The way to fix something that isn’t working in a funnel, is to fix either the hook, the story, or the offer.
Secret #7: Use Funnel Stacking
1. Use multiple funnels together. Move customers from one funnel to the next funnel in your value ladder.
Anthony Trucks: Identity Shifts
The next speaker that shared his secrets with us was Anthony Trucks, a former NFL player, international speaker, and transformational identity shift coach.
Here are the following key takeaways from Anthony:
Secret #1: Identity Gaps
1. Anthony was adopted at age 14, and at age 15, he heard two girls talk about him saying that the reason he was so bad was because he was a foster child. This created an identity gap in him.
2. When something feels off, that’s the gap between who you are and who you are trying to become. The first thing we need to do is identify this gap.
Secret #2: Identity Walls
1. When we don’t identify our identity gaps, we get stuck and we’re not able to close those gaps.
2. At 15, Anthony didn’t feel like a kid who could be good at football, but he made a decision to be great and eventually did become great and earned a college scholarship.
3. At 20 years old, he was a freshman and didn’t believe he could be a starter on the football team. He asked himself, “What out of character work do I have to do?” Later he became a starter over a 5th year senior.
4. Then, Anthony wanted to play in the NFL, but he thought foster kids couldn’t make it. However, he pushed himself and made it to the NFL.
5. Years later, he wanted to become an entrepreneur and start his own business, but he didn’t think he could do it. However, he pushed himself and leaned into it. When he started his business, his best friend and wife told him to quit within 9 months. But he continued on and built and sold a very successful fitness business.
6. At every key pivoting moment, it wasn’t about a lack of knowing what he wanted to do. It was about pushing himself to do it.
7. There are two simple yet powerful questions he asked himself:
– What would the person who has everything I want in life do in this same situation?
— If my hero followed me around for a day, what would they say?
8. Climbing those identity walls happened by him creating opportunities in his life through actions. Our actions help us climb those identity walls.
9. What you create, creates you!
10. Out of character work shifts you into that new character… that new identity.
11. Sometimes we feel the gap is too much to bridge, but it’s never too much.
Secret #3: Identify Shift
1. How do we get to the point to make an identity shift? We have to make the effort investment to get the return.
2. Close the gap between who you are and who you want to be.
3. Be that person and make that shift happen
Kaetlin Poulin: Selling Virtual and Physical Products
Kaetlin is the CEO of Lady Boss Weight Loss and an incredible entrepreneur. Her company is the #4 fastest growing company on the Inc. 500 list.
Here are my notes from her speech:
1. We’re not in just the e-commerce, coaching, or info products funnel. We’re in the “serving your customer business.”
2. We should have a customer obsession. We need to know and give customers what they want.
3. In the beginning, Kaetlin got stuck in selling digital products, and she was handicapped. There were opportunities but she felt that she had to stay in her lane. It wasn’t until she started listening to her customers when she realized, we’re not in the business of selling products, we’re in the business of serving our customers.
4. We should let go of our identity of just being an “info product business”. We should start surveying customers and asking what the customers want. Then we can use customer input and data.
5. 3 questions to ask:
– Who is it that you serve?
— What is the goal they are trying to reach?
— What do they want? (What do they want or need to reach that goal?)
6. Remember, it is prospect over product
7. 3 strategies for success:
– Listen: Listen in your Facebook group. Listen to customer service emails. Always be listening. Listen to your customers, and use their words — this gives you the copy to use to market back to them.
— Kaetlin and her team built their first product by surveying their customer demographic and using their answers to create it. They took the biggest problems and solved them.
— Kaetlin and her team listened and created a live event, and it’s now the largest driver of their coaching program.
8. Ask: Ask, “What do you want? How do you want it? What would make you excited?” Instead of guessing, we can give our customers exactly what they ask for. We can give them options to vote on.
– Ask them, “What are the biggest struggles you’re having right now trying to reach your goal of ______?”
— What are the things that we aren’t currently offering that you would like to see from us?
9. Execute: Compile the repetitive problems into categories and start with the most mentioned problems. Pick one thing. Figure it out. And give it to them.
– Disclaimer: Only execute on one thing at a time.
10. Think outside the box: What are my customers already buying from other companies? 60% of their customers were buying protein bars from other companies.
11. Her greatest revenue stream was hiding under requests her customers were asking, but they weren’t listening to.
Russell Brunson, Todd Dickerson, and Stu McLaren: Supporting Charities
Stu McLaren has created a charity called Village Impact, a charity ClickFunnels has been contributing to for a long time. ClickFunnels donates $1 for every funnel created to the charity, which goes towards building a school and library in Kenya. During the live event, Russell Brunson and Todd Dickerson presented Stu McLaren with a $200k check to go towards liberation and education.
ClickFunnels has also donated to Operation Underground Railroad and encouraged many people to get involved in helping solve the problem of human trafficking.
Jim Edwards: Copywriting Workshop
After the main event, we broke off into different workshops. I chose to go to the copywriting workshop with Jim Edwards. Jim Edwards is the founder and owner of Guaranteed Response Marketing and the author of Copywriting Secrets. Here are my notes from the session:
1. One of the best hooks Jim ever got was, “The ______ secrets you’re not supposed to know.” We should start with a hook, tell a story, and then give our offer.
2. Who is your ideal customer? The first thing we need to understand is our target audience or ideal customer. Here are 8 questions you should be able to answer about your customers:
(1) What is their current identity? Who do they see themselves to be?
(2) What is their ideal identity? (Wealthy and successful, retired, father or mother, etc.)
(3) What is their #1 big result they hope to gain? (freedom and financial success)
(4) What is their focus? Know the blank to: My target audience’s focus is on _______ , for example, it could be “making more money”
(4) What is the chasm between where they are and where they want to be?
(5) What is the #1 pain you can eliminate for your customer? Know the blank to: You can have it all without ______. For example, it could be “consuming your life”
(6) Who is your ideal customer’s enemy? This could be an individual or a group.
(7) What do you sell?
(8) How fast can you get results to people? You can get results in as little as ________” (Maybe tell them the time length of your webinar or first course module.)
3. The hook gets you in the batter’s box. The hook is everything because without it, the customer won’t continue reading and nothing else matters. The hook should be said in one sentence.
4. Use a hook on social media, email signature, voicemail, and the author box at end of article
5. Create a tagline for product or service, intro at beginning of a video, quick self -intro on a podcast, answer to “what do you do?, text on graphical headers, headline on About Me page, print on back of a business card, caption under your picture on a sales page or sales funnel, Facebook or any ads
6. Jim had a failure with an ad, then asked himself, “What would a great marketer do now?” So, he wrote a new headline and saw a 500% increase in sales by just changing the headline.
7. Jim’s go-to headline: How to get (what people want) without (pain)
Russell Brunson: Virtual Real Estate Secrets
Finally, Russell Brunson came back on stage for the final speech of the evening. He spoke on virtual real estate secrets.
1. Ways to make money from traditional “real estate”:
— fix and flip
— buy and hold (cashflow)
— creative financing
2. How does that apply to us as internet marketers? Russell took those strategies and applied them to virtual real estate — our websites.
3. Tools to fix virtual real estate:
4. Places to buy sites
– shopify exchange
5. Case Study: Burlapable.com. Russell found a trend by going to someone who was very knowledgeable about current trends. She told him about wholesale burlap bags and so he bought some bags and within 45 minutes, had a site for them.
6. Case Study: CickenCoopSecrets.com. Russell went to ClickBank.com and typed in chicken coops, found a bunch of offers, licensed the product for $1,000 and then sold those products through his funnels. ClickBank is the graveyard of hundreds of thousands of dead funnels.
7. Fix and Flips — Case Study: Vygone.com. Russell bought this website, added a 5 minute perfect webinar to it and it is now a source of recurring revenue.
8. Buy and Hold — Case Study: ZumaJuice.com. Russell bought this business because of the sales video they produced. During COVID-19, the company went out of business. He bought the company and applied his knowledge to it to get the company going again.
9. You may go around with a realtor and someone may look at a specific house worth $250,000, but find a rembrandt in the attic worth thousands, which increases the price of the house. This same principle can apply to our websites. Russell called this looking for a “Rembrant in the attic.”
10. Creative Financing — Case Study: AuBonBroth.com. This was a bone broth company he loved that closed during Covid. He took it over by helping finance the company.
11. Grow your core company — Case Study: Physical front end tripwire — This is where you give away something small in the beginning for a greater reward later on. For example, Perry Belcher only sold CEO hats, however, he created a list of CEOs based on the list of people who bought the hats so he could sell them other things later on.
Thank you so much for joining me today on my key takeaways from Day 1 of Funnel Hacking Live. Be sure to join the live stream tomorrow on YouTube, Facebook, or LinkedIn to hear my key takeaways from Day 2.
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