From the archive: This episode was originally recorded and published in 2019. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL’s in these archive episodes are still relevant.
Marisa Murgatroyd is the founder of Live Your Message and the creator of the Experience Product Masterclass. Her mission? To reinvent online education so that results and engagement become the norm and not the exception.
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Resource
Free Download: The Viral Product Checklist! – The 10 Critical Elements Every Product Must Have to Deliver Huge Results, Create Raving Fans & Turn on the Referral Engine in Your Business
3 Value Bombs
1) If you want to get people hooked on getting results, taking action, and buying from you again, then you have to create products in a fundamentally different way.
2) Give your customers clarity on exactly what to do.
3) When you return to focusing on your audience and helping them get results, all of a sudden your business takes off.
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HubSpot: A platform that’s easy for your entire team to use! Learn how HubSpot can make it easier for your business to grow better at Hubspot.com!
Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: 3 Critical Elements That’ll Transform Any Online Course into a Viral Phenomenon with Marisa Murgatroyd
[1:30] – Marisa shares something interesting about herself that most people don’t know.
- She is allergic to tigers. The first time that her dad met her husband they went to Tiger Kingdom, and after snuggling with 3 tigers she had a massive allergy attack.
[2:54] – Why do the vast majority of customers never complete an online course?
- 97% of people who buy online programs do not complete those programs
- The reason? People do not learn from information alone. If you want to get people hooked on getting results, taking action, and buying from you again, then you have to create products in a fundamentally different way.
- Decrease refunds, increase referrals, increase repeat buyers, and increase testimonials.
[6:31] – Marisa shares how she got 700 pages of testimonials in one enrollment cycle
- What is the promise of your product? – It sounds simple but you cannot win the game if you do not know what winning looks like.
- Identify your clear win state. Give your customers clarity on exactly what to do
- Those customers who finished the program and who made a lot of money gave her testimonials.
[9:24] – Why is buyer skepticism at an all-time high?
- Many people have been doing products the old-school way: information products rather than experience products. People who have bought information products in the past have gotten stuck and frustrated, and so they just walked away
- If you are designing a program that is just based on your expertise, you have got to understand how to design the program in a way that engages people.
[11:44] – Why are refunds are at an all-time high?
- Because people cannot see what winning looks like. If the experience in getting into your program is too slow or too confusing, people will request a refund.
[15:30] – Can you back up your statement about businesses shutting down in record numbers and share why this is happening?
- Many businesses shut down because they fell out of love with their business.
- A lot of times when you are not seeing your students, customers, or clients getting results, it’s a lot harder to keep showing up and deliver the same program.
[17:43] – A timeout to thank our sponsor!
- HubSpot: A platform that’s easy for your entire team to use! Learn how HubSpot can make it easier for your business to grow better at Hubspot.com!
[19:59] – Marisa talks about her Pokemon Go story.
- Someone told her that some people just aren’t meant to be successful…
- She then decided to experiment with product creation in a new way.
- In the summer of 2016, Pokemon Go helped her change the way she approach products. It showed her the psychology of motivation and how to create addictive experiences that will get people addicted to their life goals.
[23:33] – Marisa talks about her last launch.
- Her last launch did $1.5 million.
- Her product became the ultimate referral engine, and top partners lined up to promote for her.
- She defines marketing as the process of paving the way for someone believing that they can achieve the mission that is being presented to them.
[29:50] – Marissa discusses the Experience Product Formula.
- Leverage addiction in a positive way. Help people follow through on a commitment that they’ve already made by investing in your product.
- Avoid the downward death spiral.
- Understand the psychology of your audience. Each step of your program should help you constantly address and normalize the challenges and route from mission, to mission accomplished.
[34:27]– Parting piece of guidance
- Focus on helping other people get what they want, and when you do, then you will get everything that you need and want – and more!
- Free Download: The Viral Product Checklist! – The 10 Critical Elements Every Product Must Have to Deliver Huge Results, Create Raving Fans & Turn on the Referral Engine in Your Business
[36:55] – Thank you to our sponsor!
- HubSpot: A platform that’s easy for your entire team to use! Learn how HubSpot can make it easier for your business to grow better at Hubspot.com!
Killer Resources!
1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!
2) Free Podcast Course: Learn from JLD how to create and launch your podcast!
3) Podcasters’ Paradise: The #1 podcasting community in the world!
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