FHL is on the horizon, and everyone knows the theme this year is the Linchpin.
So we asked Linchpin expert James Curran to give us his most commonly asked Linchpin questions so we can all go in with a solid understanding of the basics and knock it out of the park!
Here's what James came up with:
What is Linchpin?
Linchpin is a shifting of focus from promotions (get paid once) to continuity (get paid regularly) as the most important part of your business.
You sell your continuity as part of a MIFGE (Most Incredible Free Gift Ever) offer.
The MIFGE offer is an amazing offer that your customers feel compelled to take in order to try your continuity.
This is usually sold via a VSL (Video Sales Letter) funnel.
You still do promotions, but they're called Dramatic Demonstrations, and their purpose is to sell your continuity.
Also, you take back end revenue from them and put them into paid traffic to your MIFGE funnel.
Over time, your recurring revenue stacks and compounds.
What is a MIFGE?
A MIFGE is a highly enticing offer. One so good that anyone on the fence will go for it.
In fact, it's really intended to do just that.
If your prospect is about 70% convinced that they want to try your continuity, the MIFGE gives them the extra 30% push to go for it. Think of it in those terms.
So, what can it include? Anything!
100% physical goods, 100% digital goods or any combination of the two.
It can be a bunch of stuff or as simple as a free trial to your continuity. That's an incredible gift!
Want a MIFGE Pro Tip?
Put something in your MIFGE offer that can't be obtained anywhere else. The scarcity pull is one of the strongest, and your dream clients are bound to say yes!
Check the Magnetic Marketing Diamond Upgrade for a fantastic example
Does the MIFGE have to be free?
Nope. You can charge whatever you want! Just make sure the perceived value is way more than the price, at least 10x.
What is Continuity?
Wikipedia defines a continuity program as "a company's sales offer where a buyer/consumer is agreeing to receive merchandise or services automatically at regular intervals (often monthly), without advance notice, until they cancel".
Here are some familiar examples:
Subscription Boxes: HelloFresh, KiwiCo
Digital Content Subscription: Netflix, Hulu, Spotify
Membership Websites: 2CCX, Beachbody On Demand
Software-as-a-Service (SaaS): Canva Pro, Slack, ClickFunnels
What is a Membership Success Path?
A Membership Success Path is the through line for your membership site. You take your customer on a journey from where they are to where they want to be in 3-7 stages of development. Each stage consists of action steps that, when taken, result in the completion of a milestone. Each Stage's Milestone is a concrete, unambiguous, easy to quantify "I either did it, or I didn't" accomplishment that's required to move on to the next Stage.
What kind of funnel does Linchpin use?
The MIFGE offer itself is typically sold through a VSL funnel. See nobsletter.com and yourfirstfunnel.com for examples. You'll also need a simple Early Bird funnel for your launch.
How do you launch your Linchpin MIFGE Offer?
Follow the Internal Pressure Launch from the Linchpin book. In short, it's as follows:
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