Maximizing Profit Margins: Mastering Lead Gen & Launches for a Lucrative Year

Jennie Wright [00:00:02]:

Hi, this is the Acquire Podcast from the Odd Phonic Podcast Network, and I’m Jenny Wright. And on this episode, we’re gonna be talking about maximizing your profit margins really by mastering your lead gen and launches and creating a really lucrative plan. This episode is gonna guide you through how to create an annual marketing strategy. I know it’s not the beginning of the year. It doesn’t need to be the beginning of the year. You can do this at any time. Identifying and repairing weaknesses in your marketing plan and your different business processes and ensuring that through this approach that you’re gonna have every opportunity to fix the leaky boat. This is something that I do all the time with my clients, and I’m gonna recommend that you do this too.

 

Jennie Wright [00:00:49]:

So usually, I get into the doer role, and I’m gonna talk about, you know, the 1, 2, 3, and the a, b, c’s of how you actually do things like challenges and summits and email marketing and all the rest of it, and I give, like, a step by step kind of, like, plan. I’m gonna pull back a little bit for this episode, kind of zoom out, and talk about your business on a whole. We’re gonna focus on what I call the architecture of your business and your launches. And we’re gonna talk about what it’s built on and how we’re gonna find every little and also big opportunity to max out on everything, which is gonna increase your profit margins. So we’re going to talk about things like the vision that you have for your business and why it’s so important, the ways that you can innovate and find all this crazy good opportunity and what you’re already doing and just sprinkling a little bit of new stuff in there to just amplify and make it great. We’re also gonna talk a bit about your growth mindset and how your outlook in your business translates into either you’re growing or you’re contracting. And we’re also gonna look at the different ways that you can fix and find the opportunities in your leaky boat. And, honestly, everybody has The, so don’t worry about that.

 

Jennie Wright [00:02:07]:

Everybody has an opportunity. I just happen to be kinda good at finding them. And, also, we’re gonna look a bit about how we’re gonna maximize profits over the long term. And this conversation can never be complete without talking about the long game of lead gen and launches. So first, let me excuse the fact that I have a bit of a voice issue right now. I’m getting over a really bad cold, but we’re just gonna keep going. And the first thing I’m gonna explain is a little bit about why I said architecture, business architecture and launch architecture. What is that? And quickly without getting too into the weeds on it, launch architecture and business architecture is really just the blueprint, the overall blueprint of your business, and then the sub blueprints of everything within it, especially your lead gen and especially your launches.

 

Jennie Wright [00:03:03]:

So it’s just breaking down what everything is built on, those foundations, and then making sure that those are completely solid and then building it from there. So let’s talk about the vision that you have in your business and why it’s gonna be so important to continuously work on this part. And your vision, you know, you can call it whatever you want. You can call it the big dream. You can call it however you wanna term it. It’s not about just hitting the numbers in your business, and it should be more organic. It’s the impact you wanna make, who you wanna help, and the kind of mark you wanna leave in the niche that you work in, whatever that looks like for you. And this big vision that you have, you have to decide what it is.

 

Jennie Wright [00:03:48]:

It has to guide you and drive you and inform every little thing that you do. It’s essential in your business, and it’s essential to your success. It’s also essential to boosting your profit margins. Without having a clear vision, without understanding who and what you’re trying to do, or who you are and what you’re trying to do I should say. You’re not going to reach those goals. Take a minute. You should already have a really good understanding of your vision. You are the visionary in your business.

 

Jennie Wright [00:04:16]:

You’re most likely not the doer. You’re most likely that visionary Jason. So you’ve probably spent a bit of time on this, which is awesome. And, oddly enough, I’m fresh back from a business trip that I had to take to Seattle where I spent 2 full days filming with my client, Then a leadership retreat wrapped it up with an employee retreat before heading back home and catching a crappy cold on the way, which is still lingering. You can probably hear that. But this trip was all about the vision, the brand, the success plan, and fixing the leaky boat. It was also about building connection and finding ways to maximize what my client was doing in pretty much every aspect of their business and the long game, which is where I come in. That client dedicates multiple times a year to strategic planning, vision creation, and a lot of reflection.

 

Jennie Wright [00:05:09]:

They figure out the broad strokes, and then they inform the team who starts to work on filling that vision. It’s really impressive. It’s a great model, actually. And another one of my clients that I just had a conversation with today, actually, is the founder of a very niched in SaaS company. And they just went through this whole process. It’s a different different vision process, a lot more hands on, where they broke down their lead gen and launch architecture for the Q2 in a lot more detail whilst informing the vision. So everything was coming from that and what they did is they drilled down to every single day pretty much in April May, and they went into this, like, serious amount of detail. And they made sure that they checked in on everything that they were doing, whether it followed the vision of the business.

 

Jennie Wright [00:06:01]:

They also found that when they did this, they were spending a little too much time on The vertical that wasn’t gonna yield the same results and also wasn’t completely aligned The with a different vertical. And it’s a vertical they just created. It’s a membership or a subscription, and I’ll talk a little bit more about that a little bit later, but I’ll tell you right now. It’s a fantastic way to boost profits. It creates reliable monthly income. And if you do it right, it’s a high value for the customer and way less cumbersome, cumbersome, sorry, for the entrepreneur to actually deliver it. It’s it’s getting really crazy easy to create these as well, by the way, because of multiple software options, and they’re super popular. But I’ll talk a little bit more about that later.

 

Jennie Wright [00:06:43]:

So your vision planning can start anywhere, but I always want to recommend that you start with what the end goal is and then work your way backwards from that. As you do that, you’re gonna see all of the different opportunities. And it doesn’t matter what level of business you’re in right now, whether you’re established, whether you’re brand new, whether you’re, you know, 5 figure, 6 figures, whatever, 7 figures. It doesn’t matter. The vision process and then working your way backwards from this sort of business architecture, launch architecture, your goals is where you’re gonna find these opportunities. You’re gonna see things like you’re using the wrong software. You’re paying for the wrong subscriptions to different things. You’re spending way too much time on verticals that aren’t gonna make sense.

 

Jennie Wright [00:07:25]:

You might be paying to have people on your team that aren’t being utilized in the way that they need to. So right person, right seat, or wrong person, right seat. That doesn’t really make sense, but wrong person, different seat. Do you need to move people around? And I and I just saw this happen where really great person in an organization, was not in the right seat, wasn’t getting maximized on their abilities. That person is actually being transitioned into a completely different role because that’s gonna fit them a lot better. And, I think they’re gonna see really great progress from that. I actually think they’re gonna see a great opportunity in fixing their little leaky boat problems because that person has a really great skill set in one area that they desperately need. So that’s really good.

 

Jennie Wright [00:08:15]:

Let’s talk about the ways that we can innovate and find all this crazy good opportunity in what you’re already doing by just looking a little bit deeper and sprinkling a little bit of new stuff that makes it great. And this is a trick that I love. I’m always keeping tabs on market trends. I’m always staying in tune with a mix of different newsletters. I subscribe to them, read them on a regular basis. They actually have a rule in my inbox. They go to a special folder. I read them when I’m ready, so I’m not tempted to look at them when I should be doing other things.

 

Jennie Wright [00:08:46]:

And I do that from tech to global news, global events. And it’s like creating a little mini crystal ball because these people who are writing these newsletters are usually very forward thinking, and it really helps you stay agile and adept with what’s going on. And it will absolutely help to set you apart from a lot of different people because you’re creating that plasticity in your business of being able to change as you need to and develop and go with the flow, which is great. And I read this story that I wanna share with you. I just saw this actually in a group that I’m in, and it’s about this person who owns a digital social media marketing agency, this person named Adrian. And, their agency is known for being really super creative and really in tune with all the latest trends, and they’re doing really, really well. The the founder, Adrian, is always trying to think one step ahead and understand what the next big breakthrough would be. And if you can imagine with a social media marketing agency The that’s gonna be things like algorithms, what’s trending, short form video versus long form video, and so on and all that stuff.

 

Jennie Wright [00:09:58]:

But what really came up is AI. I mean, you probably saw that coming. And AI has been an insane sort of, like, crazy ride lately. And, Adrian apparently started hearing about all this chatter about AI sooner than a lot of people because they kept their eye on the trends. And, this isn’t just like, you know, basic level chatbots. We’re talking about AI that can whip up incredibly personalized content, crunch data. And apparently The person was thinking, like, this is the future. This is it.

 

Jennie Wright [00:10:31]:

I need to pivot into this. I need to make sure that my clients benefit from it because honestly, as you already know, AI is developing and getting better and better and better, so they jumped on the trend early. So they’re dabbling. Apparently, it’s not just going okay. It’s going amazing. They get really smart about it. They dive deep into social media analytics. They get to know their clients’ audiences.

 

Jennie Wright [00:10:54]:

They’re really getting a deeper understanding, and they’re using the AI to create predictive trends, to personalize content and get posts before, like, getting Podcast out at the exact right moment, things that were going viral quicker than their competition because of this forward thinking and and using AI in a different way. And then they also used AI to create a lot of content, which a lot of people are doing now, but this person was a little ahead of the trend. This is a company this is a bit of a little while ago. And they didn’t only use it to analyze trends, but they were creating content that’s catchy and engaging and totally on point in the moment. And they use this to elevate their clients’ businesses. And what it did is it created a lot of engagement, a lot more conversions so that started to skyrocket and before you knew it their agency is like being featured in articles It started being, you know, sort of like the darling on social media apps that the people were talking about it Wright much saw the same story being, pushed through through a lot of different content creators and, people who talk about this thing on a regular Jason. It was really, really cool. So the The.

 

Jennie Wright [00:12:07]:

Long story short, the impact is pretty mind blowing. So with the engagement that went up, the conversions, and so on, this is the result of when you can jump on a trend early. Another person that I know, somebody I actually met back in January, this person, Molly, she is really big in the AI Jason. And she was making those AI videos before anybody else was doing it, and she was sending it to her clients, and her clients had no idea that that was AI. It was it was fascinating. But she is maximized on the AI piece by creating her own, chat gpt kind of thing, her own GPT, and rolling multiple GPTs out for her clients and also as paid products externally. It’s really done really, really well. She has been on the forefront of it, and it’s gotten her speaking gigs.

 

Jennie Wright [00:12:55]:

It’s gotten her a ton of clients, a ton of income, and it’s maximized her profits in that way. Now this woman is has the ability to pivot really, really quickly, and she’s maximizing on that. And that is all about having that quick trend, understanding what’s coming sort of feeling. So when you’re looking at the architecture of your business, you’re gonna have this foundation. Your foundation, your vision doesn’t always change. But this strategy, this on trend strategy, or just being aware of what’s going on, that’s where you can be really changeable and you can kind of adapt to things as they go as long as they stay to your niche. So they’re they’re niched in. They’re within your vision, and they stick within the overall goal of the business.

 

Jennie Wright [00:13:38]:

So you’re not always pivoting away from your overall goal, but actually you never should. But you’re finding different ways to achieve it when the market trends change. And if we’re going to talk about innovation, then we’re gonna talk about how we can boost our profits from it. And we’re gonna look at things like introducing a new service that nobody else in your niche is offering. That’s real innovation. How are you going to take the next thing and make it different and make it better and make it so that if anybody Google Googled it The couldn’t find it because honestly if we can Google it we’re probably not gonna pay for it. So what about offering a new AI driven social listening service to your clients if you’re the you know, in the social media space? This could open a whole brand new revenue stream. And maybe you’re looking at ways to create efficiency in your business with AI, again, using this example.

 

Jennie Wright [00:14:35]:

How do you automate mundane tasks, allowing you to free up a lot of focus on higher income activities? I interviewed somebody a while back who was using AI as well as things like Zapier and so on to help automate a lot of the processes in the creation of their podcast. So they would record the podcast. They had all these different automations set up. They had these different chat gpts set up, and they had Zapier. And all of this talk back and forth to create a ton of automation so that all the processes to get their Podcast from recording to produced was really cut down, and they were able to actually cut down on the amount of resources they used. Basically, they created their own AI podcast producer within all The, and it just really sort of streamlined things for them, which increases their profits overall. Right? So growth in these different ways is gonna equal profit. It’s gonna create these margins, these these additional margins in your business.

 

Jennie Wright [00:15:38]:

And if we go deep into growth strategies, then if you think about taking your, business and expanding it to a different audience, right, so this would be a growth strategy. So if your niche is really niched in on one thing, what is the next adjacent niche? Not different. That you can then tap into with either a new product or a modified product of something you already have or an elevated. So if your if your niche is at a certain income level, what adjacent niche may be a higher income level or a slightly different view of people, in that niche can you exploit, for lack of a better word, can you tap into? So if you think about, high end luxury brands, their brand is always screaming premium, and the price they charge is is is matching that. And if you can look at the different ways that you might be able to apply if you want to, and I’m not saying everybody should do this, but if you apply this to your digital products, up the quality, up the branding, and then eventually, you can up the price. Right? So you can take your basic course that’s $300 that you’re using to help brand spanking new people do a, b, c, x, y, z. Elevate that to help people who have been in business for a Acquire, who are already well versed, who need tweaking and amplification, then you can charge a more premium Wright, and you can drop things in like 1 on 1 coaching to support that course or a mastermind version. And the different things that you can add in are what are going to amplify that opportunity or increase the price or increase the value.

 

Jennie Wright [00:17:18]:

Right? So you’re taking a look at The, and you’re adjusting accordingly. And then the real secret to long term profitability is consistency. I say this all the time and adaptability. So if you wanna set specific financial goals, if you are trying to hit that 6 figure or the multi 6 or the, you know, 7 figure, then you have to break it down into what strategies are gonna get you there and the math behind it. And, I know that math is always fun for people. I’m not the biggest math person, but when it comes to this, I will do the math. So that might mean that you are launching 2 new high ticket courses this year and increasing your client base by 50%. And you always have to be ready to pivot where necessary if the market dictates it.

 

Jennie Wright [00:18:05]:

So if a strategy isn’t working, be bold enough to adapt and change course. And this flexibility with the consistency, with the strategy, with the vision, with all of it allows you to sustain your profitability. And, again, long term thinking with our lead gen and our launches. Right? And then we’re gonna look at redefining, or I want you to think about redefining success. So success is different for everybody. Everybody defines it differently. But the thing about aligning your purpose with your profit is that you’re not just selling a product. You’re selling an experience Wright transformation.

 

Jennie Wright [00:18:41]:

For instance, if you’re if you’re selling a fitness program, you’re not just selling the The, You’re actually selling the lifestyle change, the confidence, and possibly even the community that goes with it. People will pay more when they see more value and not just the product, but in the change that it’ll bring to their lives. I remember distinctly paying a lot more for a product a long time ago because it had a vibrant Facebook group that I knew I would get support in while I was going through a course. Because I wanted that support, and I didn’t wanna be doing it all by myself. I wanted to be with other people who were taking the course and going through the exact same thing as me. That really felt helpful, and it added value. And you know what? I paid for it. So when I look at this sort of architecture that we’re talking about when we’re looking at maximizing profits, this also talks about mapping out your year, mapping out your systems, mapping out your processes, and then looking deeply within each and every single one, 1 by 1, to find the opportunities to fix the leaky boat.

 

Jennie Wright [00:19:47]:

And everybody has a leaky boat. Nobody doesn’t. Your leaky boat just looks different than everybody else’s, and yours might not be in in your email marketing, but it might be in your systems, or it might be in your automations, or it might be in your staffing, or it could be in the fact that you’re, you know, not doing enough webinars, or you’re doing too many of something. Right? So this is where you create an audit and I did a whole podcast on doing an audit of everything including business expenses and creating that opportunity for profitability, right, or increased profitability. So take a look at things like which of your products yields the highest profits and then focus on scaling them. For example, if your online course did really really well last year, considering consider creating an advanced version this year, a higher version. Analyze the market trends and see what opportunities there are for that before you create it. And if the you know, if you see that there’s a growing demand for online learning, which there is, this could lead, you know, this could lead you to create more digital products.

 

Jennie Wright [00:20:51]:

It’s what happened to me. I create the summits made simple products because I noticed that more people wanted digital learning and they wanted bite sized courses. You know? I actually created this massive, massive course. It’s actually a 5 day was it a 5 day? Yeah. So it actually wasn’t a 5 day challenge. It was actually a product. And the whole thing was how to, you know, launch a summit. This thing was massive.

 

Jennie Wright [00:21:14]:

I think there was 93 training videos in it, and I ran it for a year. It was somewhat successful, but it was incredibly overwhelming for everybody who was in it. And what I ended up doing is saying, okay. Like, I’ve gotta break this up. So I broke it up into a whole bunch of, like, little mini courses, which I rebranded, called them Summits Made Simple. And now those are the products that I offer. And if anybody wants the whole, like, kit and caboodle, the whole thing, then they have to go through me and they get strategy or they get the white glove service. And that’s sort of the pivot that I made noticing the trends that were happening, and it created success.

 

Jennie Wright [00:21:51]:

Like, I added, in 2023, I added, I think, 543 new students just in those summit made simple courses, and I didn’t finish half of those courses until, I don’t know, quarter 2, quarter 3, some of them. So a huge amount of profitability just by that small little change to make sure that I was leaning into that trend. And then the other thing that we have to look at always when we’re trying to find these opportunities is the lead generation. You know, I’ll always say that consistency always creates the revenue, and your lead generation is the long game that’s gonna create that revenue. So you have to look on focusing on the high quality leads over quantity. I just saw this happen where a client of mine came to me and they said, I’ve been running webinars consistently, and I’ve been paying for somebody to do my ads. And they consistently bring in 3 or 400 new leads per webinar, but nobody’s converting. Well, take a look at the ads.

 

Jennie Wright [00:22:55]:

Take a look at the specificity on those ads. Guess what? It’s the wrong audience. Like, we were we were these ads were going out to people who are 25 years old when it should be going to people who are 45 to 65. It was a really big eye opener for this person. They were spending, I don’t know, about $1,000 per webinar on ads. And, sure, great result, 300 to 400 new people, but they weren’t the right people. And so when those you know, when you readjust those Facebook ads and you get super targeted on your ideal customer, then we’re gonna spend less money for a more focused audience that’s actually gonna buy from you. And that’s a better approach long term.

 

Jennie Wright [00:23:33]:

You already know this, but this is how you can maximize these little tweaks over and over and over again. And then with your launches to create maximum revenue, I want you to set these really clear financial goals. Use tiered pricing strategies to attract a broader audience, and it’s still gonna maximize your profits because there’s there’s people who are willing to pay for premium options. And that market has never changed. It just continues to grow. As long as you’re providing value, there is an audience that is probably willing to pay more for it. So every aspect of your launch you need to look at from the marketing emails, to the landing pages, to the sales pages, all of that should be optimized to convert at the highest rate possible. One of the things that I do with clients is I do an audit, and I look at that.

 

Jennie Wright [00:24:19]:

I look at all the historical numbers, and I find these little things that we can do that are incremental. I kid you not. I had a client that had a long standing, lead magnet for lead Jason, And it was converting at 1, sorry, 0.14%, not even a percent, 0.14%. And they had no idea that it was converting that low. And they were sending traffic to it, not paid, organic, but they were still sending traffic to it. And we just had to redo the page, update the copy, new images, and so on and so forth. And that page started converting at, like, 46%, pretty much right away. Those little things make a huge difference, and people don’t see it.

 

Jennie Wright [00:25:03]:

So just to kind of recap on this, we are looking at maximizing profits. We’re actually diving into the vision. We’re looking at how you can innovate and find really great opportunities in what you’re already doing, looking at sprinkling some new stuff. And I told you I was gonna tell you a little bit about this business, the SaaS company, that went for a membership or subscription. And I’m gonna tell you a little bit about them now and what they’re doing is, and I mentioned it a little bit earlier that one of the verticals they were spending money on was a challenge, a paid challenge, and that paid challenge was not actually generating a ton of income. And when we broke down the expenses and the time spent on creating that challenge, it was really cost at first. They were spending a ton of time and a ton of money to create it, spending ton of time and money on ads. And the end result was we weren’t getting people to actually invest in The SaaS company, which is a, you know, monthly product that they sell, like a monthly reoccurring revenue.

 

Jennie Wright [00:26:02]:

But when we looked at creating this membership model, the subscription model of, you know, paying $97 a month, getting a ton of value out of the product, like showing people actually how to really get a ton out of this product, how to use it, how to amplify it, how to, you know, break the code on it practically to get the most opportunity out of it, then they saw the total value in actually having the SaaS product in their business, and they were willing to pay more. So they’re paying, like, $97 for this really cool sort of get more out of the product club. And then they’re willing to pay for the product, which is about a $297 month product. Right? So we’ve increased our per person, you know, per basket value, basically, from, like, you know, having a core group of people who are paying for this SaaS product, but now we’re adding another $97 and we’re also increasing, you know, increasing our long term profitability because we have people who are really into it, and they’re gonna stay long term customers because now they understand the value. Right? As opposed to signing up for the product, enjoying the 14 day free trial, and then when the 14 day free trial is over and not really having used the product, they get rid of it. K? So the the part I wanted to talk about with growth mindset, and I’m just gonna use this to kinda wrap up, is really looking at the way that you’re looking at your business and seeing the opportunities for growth versus contraction. And contraction can just be in not adding things in that are gonna increase your lead gen The are not gonna compound, like interest with adding new people to your email list or getting new customers in the door. And your growth mindset, and I’m not a growth mindset person, but you really need to look at what that is and how you can improve upon it.

 

Jennie Wright [00:27:51]:

There’s a lot of help you can get in that space. There’s a couple people I follow both on Instagram and TikTok that talk about this a lot, and I find that I find what they say really, really useful. And then the leaky boat. I think I talk about this quite a bit on this podcast, but finding those opportunities in your leaky boat are the things that are going to really elevate and find all of the different ways to maximize profits. Fixing one little hole that you think was, like, totally innocuous, totally small, can have a massive profound effect long term. And if you fix it quickly, then you’re gonna reap those benefits a lot. And then maximizing profits. We talked about adding in different revenue streams, increasing the value of one particular product so that you can increase the price where it makes sense, and all of those different opportunities to take things and go to a new level.

 

Jennie Wright [00:28:47]:

And when you do all this, then you’re really maximizing your profits. You’re really maximizing on your lead gen, your launch, and also your business architecture. And so taking a look at all this, I think, is super helpful, and I try and do this with clients and also my own business a couple times a year. It’s really, really helpful, and it’s a deep dive. I hope that you found it helpful. So as always, the The podcast is produced and edited by Jason Wiehler. And if you found today’s episode valuable, please don’t forget to subscribe and rate and leave a review. I’d love to hear from you and I appreciate you being part of my community.

 

Jennie Wright [00:29:23]:

And if you want to learn more about what I do and how I can help, please go to jennywright.com and also connect with me on social media. And as always, the acquire the Acquire Podcast is brought to you by the Audphonic Podcast network. Thanks so much.