https://www.youtube.com/watch?v=NA61omfYgvI

1 00:00:00.000 --\> 00:01:00.000 i am pissed not really but i recently
uh was on a podcast a few months ago via my first million podcast uh
with sam and sean great guys and we were talking about my book 100
offers which you can get on amazon kindle for 99 cents if you don't have
the dollars for a hardback and i heard on a later podcast that i wasn't
on that sean was saying yeah i really love the book um but it's just a
bummer it doesn't apply to e-commerce and i disagree and that is why i'm
making this video to break down why the value equation and the things
inside of the 100 million dollar offers book which pretty much this this
visual right here inc you know encapsulates or or summarizes the the
vast majority of the pieces in the book and obviously there's a lot more
examples and stories and there's you know a lot of five star reviews on
amazon so check it out for 99 cents if you want but the main point is
that these are variables that create purchasing decisions that get
people to value something in order to buy it because they value it in
excess of price tag and the idea here is if we understand the things
that drive value then we can understand the things that underpin price
which then lead to

2 00:01:00.000 --\> 00:02:00.000 profits all right and so in the book i
do give a lot of uh service based examples uh both b2b and b2c but i
wanted to take this video uh to do something a little bit different and
talk about how it applies to e-commerce all right because at the end of
the day people buy stuff because they value them right and so the
application may be somewhat different but the fundamentals and the the
variables are the same okay and so quick recap on this dream outcome is
people actually have to want the thing that you're delivering to them
number one number two is that when they buy they will buy based on the
perceived likelihood that they're actually going to get that thing so
it's like a lot of people may want to get rich but they will buy the one
that they think that has the highest likelihood of actually them getting
there right or a lot of people might want to look skinny but they'll
work with the physician that has worked with 10 000 patients rather than
their first patient because they're perceived likelihood of actually
getting skinny or getting the surgery they want is higher and in a very
real way value it more time delay is how quickly something can happen
right as between when i buy and when i get if we can compress that time
horizon or that timeline the more valuable it is if i can get you a six
pack in 30 days for a six pack in 30 months which one you value more of
course the 30 days one so we try and compress the time horizon along how
we deliver our products and services and then finally effort and

3 00:02:00.000 --\> 00:03:00.000 sacrifice are the things that we have
to start doing that we don't want to do or we have to give up doing that
we do want to do as a result of the purchase and so in a perfect world
we want to deliver someone the dream outcome and when they buy it
because they have extremely high likelihood or they're certain that
they're going to achieve that and they're going to achieve it overnight
with ease right so fast easy and exactly what they want the way they
want it to be delivered all right so that's what we have to think about
here now in the book i talk about scarcity urgency guarantees bonuses
and naming right and so what i want to do is just apply these and the
easiest way to look at this and and prove out the point that this 100
applies to ecommerce is to look at the e-commerce giants all right
specifically let's just look at amazon and over time they've really
nailed down hitting each and every single one of these variables that
drive value now if you are an e-commerce person and you're like why i
can't sell on amazon well one is you can the other is that you can start
thinking about it through amazon lenses and of course it's taken him 30
years to build this thing right but we can still think if this is the
theoretical that we need to try and shoot for this is the ideal scene
then we can start taking steps towards it to improve the value of our
offerings okay cool now if let's say i wanted to buy a

4 00:03:00.000 --\> 00:04:00.000 jacket all right so this is a very
different example than my normal ones and i have other examples and
services in other videos but this one is just for physical products so
let's say i wanted to buy a jacket my dream outcome might be that i look
good in this jacket that could be an outcome it could be that it's very
warm ideally maybe it's both of those things right and i might even want
a jacket that looks good and that isn't warm because i just want to wear
it because i think it looks good but i don't want to get hot right so it
depends on what my dream outcome is right so you're gonna have different
messaging for different avatars depending on the on on the product
itself and what problem it solves all right so let's just use for
example that i just want a fashionable jacket that looks cool okay
that's point one around what our dream outcome is great now i may be a
buyer who's like but i'm not that fashionable and i don't really know
how to like pair stuff and make it look cool all right so what are the
ways that we can increase the perceived likelihood of achievement of me
achieving this cool look all right well first off is reviews if i have
lots of five star reviews on my page and i can read them then i'm more
likely to make the purchase because i see other people made the purchase
and are happy about it right makes sense that's why reviews amazon
pioneered this and then it became commonplace because it increased the
perceived likelihood of

5 00:04:00.000 --\> 00:05:00.000 achievement right what else can we do
and i actually saw this levi's did this for selling a jean jack which is
why i'm giving the example because it was so masterful and how they did
it what they did is that i saw this video it was uh maybe 90 seconds and
it had the jean jacket and it had three different ways you can wear it
and they showed here's how you pair it with dark stuff here's how you
pair it with light stuff here's how you pair it with the same looking
jean and blah blah and i was like wow i did not know how jean jackets
work but now i do and now i know how to wear it so my perceived
likelihood of achieving the dream outcome of looking cool has just gone
up simply by them making a video that demonstrated it right these
variables apply to services and e-commerce just the same it's just the
way that we show someone how to experience the dream outcome they desire
differ alright in a let's say it's a i'm teaching a skill i'm going to
show somebody who has the skill showing them demonstrating the skill and
the results of of having that skill right that would be increasing the
perceived likelihood but if it's a physical product then we have to
think what's the outcome they want and then how do we increase the
likelihood that they they see that and easy ways to demonstrate it

6 00:05:00.000 --\> 00:06:00.000 right and to literally demonstrate this
is probably what you're thinking and here's how it works that's why
unboxing videos and things like that work because it decreases the risk
associated with making the purchase because they're like oh that's
what's going to happen it decreases the other side of me swiping my card
what happens after that right and as much as we can demystify what
happens after they say oh i now can create expectations and then these
this product will meet the expectations and i will be happy great now
the next one is time to like amazon has been the pioneer of prime of two
day shipping one day shipping one hour shipping right and they continue
to try and drive this down because they know that the faster they can
get people the things they want the more that they will value and like
it and repeat buying on the platform right and so this should be a
no-brainer this absolutely applies to e-commerce all right now the next
one and that can also apply at different levels right there's the actual
purchasing experience but then there's also the experience of using the
products it depends on types of products that you have like a jacket
might not have a huge time delay in terms of using it if you sold custom
tailored stuff then delivering it faster or finding a way to
operationalize that more quickly would be very real value right right so
there's the purchasing process and then there's also the like

7 00:06:00.000 --\> 00:07:00.000 the wearing it process all right and
like unboxing and actually having them experience again the dream
outcome right now finally of these four variables we have effort and
sacrifice and so the purchasing decision here amazon has one click
purchases with everything on file save so you can make a purchasing
decision in a split second right and so that's why the rise of products
like bolt and shop pay are all things that have decreased the effort and
sacrifice and a lot of ecommerce stores uh have been able to use this to
their advantage and make more sales right and that's because in a real
way things would become more valuable so it increased the likely that
people are going to buy all right but let's look at the other ratchets
that i said these are inside of the book are enhancers of value they do
even more to increase the value equation in your favor so that you can
buy sorry you can sell more stuffs okay so let's look at amazon for
example what do they have under virtually every single item how many
they have left in stock is their way of showing scarcity only two left
only six left only 17 left and then they have it by size right so that
they can show scarcity at every single level huh what does that do it
drives conversions people want to buy all right

8 00:07:00.000 --\> 00:08:00.000 are you guys are you guys tracking with
me does this feel like it applies to e-commerce let's keep going urgency
what else does amazon do they have lightning deals right when you do a
limited drop a limited edition drop of a t-shirt there's only 100
printed and we drop them on friday and first come first serve what does
that do it gives scarcity and because you were giving a ti there's a
time component it adds urgency now to really add urgency we'd say we're
only selling these for an hour um but hopefully the point drives home
all right but a lightning deal for example where they said we're only
giving this price for for 60 minutes that is absolutely urgency all
right saying how many you have left is absolutely scarcity are you guys
tracking with this all right cool now guarantees so what do we do here
well amazon took this one step further not only did they already have a
money back guarantee right because it's satisfaction you don't have to
do anything you just send it back and they made it easy to return stuff
what they did now is try before you buy right so they have seven day
layaway so you can buy the thing and they charge you seven days later
you can literally try the thing on and not even have to get billed on
the card right why'd they do that it's a version of a guarantee why

9 00:08:00.000 --\> 00:09:00.000 because what we're doing is we're
decreasing the risk of someone purchasing right that's what we're doing
here we're decreasing the like we're decreasing the likelihood that they
have a poor experience which as an inverse increases the likelihood that
they do have a positive experience if they choose to purchase so it's
like if i'm trying it on before i buy it then i'll be very darn sure
that if i like it i might perceive likely to achieve achieving the
outcome after i'm wearing it is very very high that's why they did it
right this is an implied guarantee it's a version of guaranteed so they
technically have two guarantees they have one which is the money back
guarantee which has now become almost table stakes for physical products
but on top of that they added in a try before you buy all right now
bonuses all right some of these ones will include bonuses like the
training that i said for for levi's like little videos on how you can
tips and tricks on how you can use this thing right if you have a widget
that's like at home health kitchen stuff having videos on how they can
actually use the thing in better ways is huge if you have a supplement
business for example telling people how to take the products and the
best things to combine it with and what time of day and how they can
make sure they don't forget it and blah blah those are all things that
can be bonuses that can be perceived benefits of doing the thing

10 00:09:00.000 --\> 00:10:00.000 right and all of this stuff goes back
to these variables okay in increasing value and increasing the
likelihood somebody wants to buy all right and then finally naming it in
a way that i think it will be cool if i said my dream outcome was that i
wanted a warm jacket then probably having warm or hot or fire or flames
or oven right in the name might be something that would increase my
likelihood that i'm thinking this is going to be something that will
help me experience my dream outcome right okay now on the flip side if i
wanted just something that was fashionable and light then it might be a
light fashion jacket right and so it's telling me the dream outcome so
we have to be explicit in what we're doing and i'll also bet you right
that you'll have different avatars that will be attracted to different
things or maybe you same avatar but they're they're solving different
needs so the question is what job is are we trying to do what's the job
to be done and then everything else is going to fall down from there now
amazon specifically people name it based on the things that people
search for right which makes sense because why would they do that
because it's exactly what i was looking for by naming it properly and so
my hope here is that uh this video at least gives you a little bit of a
cursory overview of the things that you

11 00:10:00.000 --\> 00:11:00.000 can do within an e-commerce or
physical products business to apply the 100 offer framework to make your
stuff more buyable so that people increase in higher amounts at higher
percentages and they do so willing to pay higher prices because you have
checked all these boxes off and the competitors that you have might even
have the same product as you but they haven't increased the perceived
likative achievement they haven't shown how demonstrated how they can
use the product they don't have guarantees they don't have tribe before
you buy it takes two weeks to get there and the purchasing process is a
pain in the ass they have to make an entire profile they have to do all
the stuff right and they find out that there is no scarcity so as far as
they're concerned they can buy this whenever so they can come back next
week if they feel like it right and there's no urgency or time timeline
where they do it because maybe maybe this is seasonal for for you but
for them it's year-round so again they can take even more time to make
the decision right and then in terms of bonuses yours comes with all
these different trainings and things like that they can and how to use
the product and how to use it in different ways and even how to use it
for different avatars to solve different problems right because people
are going to experience different problems that they're using they're
hiring your product to solve right and then of course your competitors
calls it jacket and you say like fashion jacket and all of a sudden the
person says you know

12 00:11:00.000 --\> 00:12:00.000 what i think this is exactly what i
need and i'm going to buy right that is how you can apply the 100 offers
framework including the value equation and the other things that i talk
about enhancing value from the book to a physical product business all
right so mostly nation i love you guys keep being awesome and i'll catch
you guys in the next vid bye mozzie nation if you enjoyed that video
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