{"id":3500,"date":"2014-06-27T11:31:40","date_gmt":"2014-06-27T16:31:40","guid":{"rendered":"https:\/\/blog.growthtools.com\/blog\/?p=3500"},"modified":"2015-12-11T15:03:09","modified_gmt":"2015-12-11T21:03:09","slug":"hopkins-formula","status":"publish","type":"post","link":"https:\/\/blog.growthtools.com\/?p=3500","title":{"rendered":"The \u201cHopkins\u201d Formula: What would happen if you just gave your product away?"},"content":{"rendered":"<p class=\"p1\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/Skitch\/Untitled_2_key_195DB1CC.png\" alt=\"\" width=\"647\" height=\"363\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/blog.growthtools.com\/Skitch\/Untitled_2_key_195DB1CC.png\" alt=\"\" width=\"647\" height=\"363\" \/><\/noscript><\/p>\n<p>[su_quote style=&#8221;modern-blue&#8221;]<strong>Free Master Class:<\/strong><span style=\"text-decoration: line-through;\"> At the end of this post is the biggest bonus I&#8217;ve ever offered. You&#8217;ll want to check it out\u00a0<\/span>(The free offer has expired).[\/su_quote]<\/p>\n<p class=\"p1\">Last\u00a0weekend I read <a href=\"https:\/\/www.amazon.com\/gp\/product\/0844231010\/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0844231010&amp;linkCode=as2&amp;tag=videofruit-20&amp;linkId=BOMPPA5YNUN3JMDQ\" target=\"_blank\">Scientific Advertising<\/a> by Claude Hopkins and it was\u00a0obvious after reading the\u00a0first chapter that Claude was one of the most brilliant marketers ever.<\/p>\n<p class=\"p1\">Even though the book was written nearly 100 years, I became more and more entranced after every page.<\/p>\n<p class=\"p1\">One chapter\u00a0was so brazen, so different, that it hit me like a &#8230;<\/p>\n<figure style=\"width: 320px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/uproxx.files.wordpress.com\/2014\/05\/shoveltime.gif?w=650\" alt=\"\" width=\"320\" height=\"180\" \/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/uproxx.files.wordpress.com\/2014\/05\/shoveltime.gif?w=650\" alt=\"\" width=\"320\" height=\"180\" \/><\/noscript><figcaption class=\"wp-caption-text\">&#8230;shove to the head.<\/figcaption><\/figure>\n<p class=\"p1\">In that chapter he described\u00a0a sales strategy that immediately captivated me.<\/p>\n<p>This sales process\u00a0converted 90% <!--more-->of his prospects into customers.<\/p>\n<p class=\"p1\">NINETY PERCENT!<\/p>\n<p class=\"p1\">The strange part was that no one uses it anymore. It worked insanely well 100 years ago,\u00a0but it has been completely forgotten.<\/p>\n<p class=\"p1\">Not anymore!<\/p>\n<p class=\"p1\"><strong>Today\u00a0you will learn:<\/strong><\/p>\n<ul>\n<li>Claude Hopkins&#8217; exact sales strategy<\/li>\n<li>How Michael Hyatt, my local CrossFit gym and Videofruit can use the strategy<\/li>\n<li>A\u00a0real life implementation of this with the best blog post\u00a0bonus ever<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><strong>***<\/strong><\/p>\n<h2 class=\"p2\">The Strategy and how Claude used it<\/h2>\n<p class=\"p2\">Want to know what the strategy is?<\/p>\n<p class=\"p2\">He gave his product away for free.<\/p>\n<p class=\"p2\">I\u2019m not talking about free eBooks or iPhone apps either.<\/p>\n<p class=\"p2\">He gave away typewriters and washing machines. Big stuff that was hard to ship.<\/p>\n<p class=\"p2\"><strong>Here it is in his own words:<\/strong><\/p>\n<p class=\"p2\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/Skitch\/Bryan_s_Kindle_for_Mac_2_-_Claude_C__Hopkins__-_Scientific_Advertising_195DAD3C.png\" alt=\"\" width=\"607\" height=\"473\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/blog.growthtools.com\/Skitch\/Bryan_s_Kindle_for_Mac_2_-_Claude_C__Hopkins__-_Scientific_Advertising_195DAD3C.png\" alt=\"\" width=\"607\" height=\"473\" \/><\/noscript><\/p>\n<p class=\"p2\">and&#8230;<\/p>\n<p class=\"p2\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/Skitch\/Bryan_s_Kindle_for_Mac_2_-_Claude_C__Hopkins__-_Scientific_Advertising_195DACB9.png\" alt=\"\" width=\"604\" height=\"266\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/blog.growthtools.com\/Skitch\/Bryan_s_Kindle_for_Mac_2_-_Claude_C__Hopkins__-_Scientific_Advertising_195DACB9.png\" alt=\"\" width=\"604\" height=\"266\" \/><\/noscript><\/p>\n<p class=\"p2\"><em><strong>(Note<\/strong>: If you want the rest of my notes and highlights from the book, grab them in the bonus section at the end.)<\/em><\/p>\n<p class=\"p2\"><strong>In short:<\/strong> His sales strategy was to give his customers his product for free. No credit card details or payment upfront and no limited functionality. Just free.<\/p>\n<p class=\"p2\">Need a sewing machine? Here is one.<\/p>\n<p class=\"p2\">Need a washing machine?\u00a0I&#8217;ll ship it to you.<\/p>\n<p class=\"p2\">If they didn&#8217;t like\u00a0it, they could send it back after their week was up.<\/p>\n<p class=\"p2\">But if they did, they would\u00a0keep it and pay the regular sales price.<\/p>\n<p class=\"p2\">&#8230;and <strong>nine of of ten people kept the item and paid for it<\/strong>.<\/p>\n<h2 class=\"p2\">Why did this work so well?<\/h2>\n<p>This strategy works so well because it debunks your #1 objection to buying anything.<\/p>\n<p>That objection is\u00a0the same thing that keeps you from spending $100 at a\u00a0new steak house or from\u00a0taking the $2,000 trip to Costa Rica that you&#8217;ve always dreamed about.<\/p>\n<p>That thing is <strong>fear<\/strong>.<\/p>\n<p>Fear that the food wont be worth it.<\/p>\n<p>Feat the the trip won&#8217;t be worth it.<\/p>\n<p>Fear that you&#8217;ll spend the money to buy that\u00a0expensive thing and then\u00a0the product will under deliver.<\/p>\n<p>Because if that happens, you look dumb.<\/p>\n<p>Your friends make fun of you and you become &#8220;that guy.&#8221;<\/p>\n<p><strong>BUT WHAT IF&#8230;<\/strong><\/p>\n<p>The steak was free.<\/p>\n<p>The trip was free.<\/p>\n<p>And you only had to pay if you enjoyed it.<\/p>\n<p>What would you do it then?<\/p>\n<p>You would book the trip TODAY.<\/p>\n<p>By being offered that initial experience with no risk you are allowed to experience\u00a0the product without fear.<\/p>\n<p>Once you step foot in\u00a0the restaurant\u00a0and you taste the steak for the first time, everything changes. It is no longer\u00a0this theoretical\u00a0place. It is a real life experience that you can tangibly grasp and understand.<\/p>\n<p>Fear is gone and without fear the buying process become easy.<\/p>\n<p><strong>The strategy works<\/strong>\u00a0because it completely obliterates the first obstacle of every sale.<\/p>\n<h2>How Michael Hyatt, my local CrossFit gym and Videofruit can use the strategy<\/h2>\n<p class=\"p2\">How would this look today?<\/p>\n<p class=\"p2\">Most of you reading this don&#8217;t sell washing machines and typewriters. We sell digital products.<\/p>\n<p class=\"p2\">So, let&#8217;s look at 3 specific examples of how this could play out.<\/p>\n<h3 class=\"p2\">Example #1: Michael Hyatt<\/h3>\n<p class=\"p2\">Take Michael Hyatt\u2019s\u00a0<a href=\"https:\/\/platformuniversity.com\/members\/onhold\/\" target=\"_blank\">Platform University<\/a> as an example.<\/p>\n<p class=\"p2\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/Skitch\/Do_you_have_something_important_to_say_or_sell__a_message_burning_inside_of_you_that_others_need_to_hear____Platform_University_195DB67E.png\" alt=\"\" width=\"600\" height=\"384\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/blog.growthtools.com\/Skitch\/Do_you_have_something_important_to_say_or_sell__a_message_burning_inside_of_you_that_others_need_to_hear____Platform_University_195DB67E.png\" alt=\"\" width=\"600\" height=\"384\" \/><\/noscript><\/p>\n<p class=\"p2\">Normally enrollment in this class is $30 per month and new students are accepted 3-4 times per year.<\/p>\n<p class=\"p2\">While new students are not being accepted he sets up a waiting list for anyone that wants to start the class.<\/p>\n<p class=\"p2\">Then, when open enrollment begins\u00a0everyone is sent a series of emails to get them to buy.<\/p>\n<p class=\"p2\">This model works well.<\/p>\n<p class=\"p2\">But the\u00a0Hopkins Formula\u00a0could supercharge it.<\/p>\n<p class=\"p2\">Here is how.<\/p>\n<p class=\"p2\">The problem with a traditional waiting list approach is\u00a0that several months can go by between the time you sign up and\u00a0pay.<\/p>\n<p class=\"p2\">This gives you\u00a0plenty of time to talk yourself out of joining and\u00a0fear enters the equation.<\/p>\n<p class=\"p2\"><strong>Enter the Hopkins Formula<\/strong><\/p>\n<p class=\"p2\">What if Michael did this?<\/p>\n<p class=\"p2\">Instead of sending a\u00a0series of emails to warm the list back up, send this email.<\/p>\n<p class=\"p2\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/Skitch\/Inbox__51__-_bryan_manfisher_com_-_Mail_195DBAA9.png\" alt=\"\" width=\"600\" height=\"662\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/blog.growthtools.com\/Skitch\/Inbox__51__-_bryan_manfisher_com_-_Mail_195DBAA9.png\" alt=\"\" width=\"600\" height=\"662\" \/><\/noscript><\/p>\n<p class=\"p2\">Which method do you think would convert more people?<\/p>\n<p class=\"p2\"><strong>Method 1:<\/strong> 3-5 emails reminding me why I signed up. Then asking me to buy while giving a 30-day money back guarantee<\/p>\n<p class=\"p2\"><strong>OR<\/strong><\/p>\n<p class=\"p2\"><strong>Method 2:<\/strong> Unexpectedly giving me a free membership. Only asking me to pay if I like it.<\/p>\n<p class=\"p2\">Which one eliminates\u00a0fear most effectively?<\/p>\n<h3 class=\"p2\">Example #2: Nashville CrossFit<\/h3>\n<p class=\"p2\">I&#8217;ve been wanting to start Crossfit for months.<\/p>\n<p class=\"p2\">But it costs $125 per month AND\u00a0there is a minimum of a 3 month signup.<\/p>\n<figure style=\"width: 662px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/Skitch\/Schedule___Rates___CrossFit_Nashville_195DBD32.png\" alt=\"\" width=\"662\" height=\"551\" \/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/blog.growthtools.com\/Skitch\/Schedule___Rates___CrossFit_Nashville_195DBD32.png\" alt=\"\" width=\"662\" height=\"551\" \/><\/noscript><figcaption class=\"wp-caption-text\">My local Crossfit gym&#8217;s rate chart<\/figcaption><\/figure>\n<p class=\"p2\">These are the thoughts that have been going through my head and preventing me from starting:<\/p>\n<ul>\n<li>&#8220;What if I don&#8217;t stick with it?&#8221;<\/li>\n<li>&#8220;That&#8217;s a decent chunk of cash to throw away&#8221;<\/li>\n<li>&#8220;What if I can&#8217;t hang with these guys&#8221;<\/li>\n<li>&#8220;What if life just gets busy&#8221;<\/li>\n<li>&#8220;I sure wish I could just try it out first&#8221;<\/li>\n<\/ul>\n<p>And they do nothing to appease these fears.<\/p>\n<p>$125 a month for 3 months or NOTHING.<\/p>\n<p>UGH!<\/p>\n<p>I might eventually talk myself into it, but after 3 months of thinking about it I haven&#8217;t yet.<\/p>\n<h3>How could they fix this?<\/h3>\n<p class=\"p2\">Very easily.<\/p>\n<p class=\"p2\">All they need to do is prominently advertise a free intro class.<\/p>\n<p class=\"p2\">Because the second I get up off of my butt and walk in their doors all of those questions are eliminated.<\/p>\n<p class=\"p2\">A combination of <a href=\"https:\/\/optinmonster.com\/\" target=\"_blank\">Optinmonster<\/a> &amp; <a href=\"https:\/\/www.mailchimp.com\" target=\"_blank\">Mailchimp<\/a> would\u00a0produce a simple pop that allows people like me to book a\u00a0free intro\u00a0class.<\/p>\n<p class=\"p2\">No &#8220;3 month commitment&#8221;, just one class and I don&#8217;t have to pay\u00a0until I&#8217;ve experienced the product.<\/p>\n<p class=\"p2\">#lowhangingfruit<\/p>\n<figure style=\"width: 975px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/Skitch\/jonacuff-popups_key_195DC04A.png\" alt=\"\" width=\"975\" height=\"732\" \/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/blog.growthtools.com\/Skitch\/jonacuff-popups_key_195DC04A.png\" alt=\"\" width=\"975\" height=\"732\" \/><\/noscript><figcaption class=\"wp-caption-text\">Example pop-up<\/figcaption><\/figure>\n<h3 class=\"p2\">Example #3: Videofruit<\/h3>\n<p>Now to Videofruit.<\/p>\n<p>It&#8217;s easy to look at other people and point out things they could do better, but it&#8217;s painful to look at yourself.<\/p>\n<p>There are 2 things I could do to implement the Hopkins Formula with my <a href=\"https:\/\/blog.growthtools.com\/video-course\" target=\"_blank\">paid course<\/a>.<\/p>\n<p class=\"p2\"><strong>Thing 1:<\/strong> Offer 7-days of free access to anyone who completes my free course.<\/p>\n<p class=\"p2\">To access my paid course you have to first go through a <a href=\"https:\/\/blog.growthtools.com\/video-course\" target=\"_blank\">free version<\/a> of the course.<\/p>\n<p class=\"p2\">The free course includes an hour&#8217;s worth of training and multiple free downloads to help you learn to make cool explainer videos.<\/p>\n<p class=\"p2\">Then after the free course I upsell you on a $397 paid version.<\/p>\n<p class=\"p2\">By giving the free content first, some fears are reduced. However, $397 is still a big price tag and the #1 fear that my students have expressed has been &#8220;Is it worth it?&#8221;<\/p>\n<p class=\"p2\">How could I solve that?<\/p>\n<p class=\"p2\">Automatically give them access to the paid course when they finish the free course.<\/p>\n<p class=\"p2\">So, instead of sending out a series of <a href=\"https:\/\/blog.growthtools.com\/blog\/videofruit-optimization-experiment-20-ideas-testing-copy-increasing-conversions\/\" target=\"_blank\">10 emails<\/a>\u00a0that ends with a sales letter to buy, what if I sent this email instead?<\/p>\n<p class=\"p2\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" data-src=\"https:\/\/blog.growthtools.com\/Skitch\/Drafts__2__-_bryan_manfisher_com_-_Mail_195DC395.png\" alt=\"\" width=\"600\" height=\"680\" \/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/blog.growthtools.com\/Skitch\/Drafts__2__-_bryan_manfisher_com_-_Mail_195DC395.png\" alt=\"\" width=\"600\" height=\"680\" \/><\/noscript><\/p>\n<p class=\"p2\"><strong>Thing 2:<\/strong> Spontaneously give away my course<\/p>\n<p class=\"p2\">What if once a year I opened up free access to the entire course?<\/p>\n<p class=\"p2\">&#8220;Try it. If you like it, buy it.&#8221;<\/p>\n<p class=\"p2\">There are three big benefits I see:<\/p>\n<ol>\n<li>It allows my readers to see what my paid content looks like<\/li>\n<li>Gives me a massive influx of feedback and suggestions<\/li>\n<li>Who doesn&#8217;t like getting free stuff?<\/li>\n<\/ol>\n<h2 class=\"p2\"><b>But, but, but&#8230;BRYANNN!<\/b><\/h2>\n<p class=\"p2\">What if they just take off with it?<\/p>\n<p class=\"p2\">First of all, do you sell typewriters? No.<\/p>\n<p class=\"p2\">We sell digital goods. apps, books and courses.<\/p>\n<p class=\"p2\">Even if someone was able to steal your product, which you can guard against, your cost per goods sold is extremely low and losses and very minimal.<\/p>\n<p class=\"p2\"><strong>What&#8217;s the worse case scenario?\u00a0<\/strong><\/p>\n<p class=\"p2\">The worse case would be that someone see&#8217;s your premium content, uses it and never pays you. Then after a week their access to that product goes away.<\/p>\n<p class=\"p2\">So what?<\/p>\n<p class=\"p2\">Did you lose any money? Nope.<\/p>\n<p class=\"p2\">If their only intention was to rip off and copy all of your content to their hard drive then two things apply.<\/p>\n<ol>\n<li>They were NEVER going to buy from you anyway<\/li>\n<li>They have a ton of free time on their hands, which means (see #1 again)<\/li>\n<\/ol>\n<h2 class=\"p2\"><\/h2>\n<p class=\"p2\"><strong>PS:<\/strong> How can you use the Hopkins formula in your business? I&#8217;m very curious to see how you guys implement this strategy and would love to hear more about it. Leave a comment below.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[su_quote style=&#8221;modern-blue&#8221;]Free Master Class: At the end of this post is the biggest bonus I&#8217;ve ever offered. You&#8217;ll want to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-3500","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/posts\/3500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3500"}],"version-history":[{"count":0,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=\/wp\/v2\/posts\/3500\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.growthtools.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}