Trivia Question: What was the world's first online marketplace? (Check your answer at the bottom of the newsletter.) |
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This man used 1 big marketing strategy to trade his way from a paperclip to a house in just 14 trades |
Hey Funnel Hacker, Have you heard the story of Kyle MacDonald? Starting out with a single red paperclip, he traded his way to a house in just 14 trades. Here's how he did it… |
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Today, in less than 6 minutes, you'll discover: |
- The journey begins with a simple idea
- The cognitive bias that makes IKEA so popular
- How to monetize a Facebook group
- 8 time 2CC winner's top tip on building a successful business
- How long does it take to build a habit?
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Kyle's journey began with a simple idea… |
Kyle began his adventure when he decided he wanted to live in a house. Instead of going the traditional route, he looked at a red paper-clip on his desk and decided to see if he could trade it for something better on Craigslist. He got a response almost immediately from a pair of young women in Vancouver who offered to trade him a pen that looks like a fish. |
With that first trade, Kyle was hooked! He offered to trade his new pen for something better, and that's when things really took off… The trades: 1. Red paperclip for fish-shaped pen 2. Pen for a hand-sculpted door knob 3. Door knob for a Coleman camp stove 4. Camp stove for a Honda power generator 5. Generator for an "Instant Party" kit (the kit included an empty keg, an IOU for filling the keg, and a neon Budweiser sign) 6. Party kit for a snowmobile 7. Snowmobile for a two-person trip to Yahk, British Columbia 8. Trip for a box truck 9. Box truck for a recording contract 10. Recording contract for 1 year's rent in Phoenix, Arizona 11. Year's rent for one afternoon with Alice Cooper 12. Afternoon with Alice Cooper for a KISS snow globe 13. Snow globe for a role in a film 14. Role in a film for a two-story farmhouse in Kipling, Saskatchewan It took almost a year, but Kyle eventually achieved his goal! |
And, while his feat seems next to impossible to replicate, there were a few things that made it work. Things every Funnel Hacker can use in their business to drive its success… 1. He went to where the market was - Kyle could have posted his paperclip offer anywhere but started on Craigslist because it was popular for such activities at the time. By posting this to a broad and active market, he was able to gain traction very quickly. 2. He kept taking action - As Kyle himself said, "Everything has to start somewhere, and the most important trade was the first, when I traded away the red paperclip. If I hadn't tried the idea out, I'd just be a guy with a red paperclip on his desk and the adventure would've never happened." 3. He created a movement and documented it on his blog - What truly drove Karl's success was that he created a movement that people wanted to be a part of. His blog showcased his movement which led to followers who got involved in future trades. Whether your adventure is still at the starting line or you have years of success under your belt, there are multiple strategies you may not be aware of that will drive huge success for your business. If you want to see them, you should grab yourself a FREE copy of one of Amazon's hottest new releases… NO B.S. Direct Marketing For Non-Direct Marketing Businesses by Dan Kennedy. It's currently selling for $24.99 at Barnes & Noble and $22.49 on Amazon but you can get it for free here: Click here for a free copy of the book Not only will you save money, you'll also get a special free training that is PERFECT for anyone interested in learning the #1 direct marketing strategy of several hugely successful business owners. Find out more here. |
The cognitive bias that makes IKEA so popular |
Have you ever wondered how a store that sells products you have to build yourself became a global phenomenon? But at the same time, why does assembling IKEA furniture, despite the often frustrating process, leave you with a peculiar sense of satisfaction and pride? |
It turns out, there's a fascinating psychological phenomenon at play known as the 'IKEA Effect'... And, understanding this cognitive bias can unlock powerful insights for Funnel Hackers looking to enhance customer engagement and loyalty. What is the IKEA Effect? The IKEA Effect is a cognitive bias that leads consumers to put a higher value on things that they had a hand in creating. A study conducted by Michael I. Norton, Daniel Mochon, and Dan Ariely found that participants who built their own items (like IKEA furniture) were willing to pay 63% more for those items than for identical pre-assembled products. It's believed the sense of accomplishment and pride in completing a task contributes to the positive feelings toward the item. How can you apply the IKEA Effect to sell more? 1. Provide a visible reward for their efforts - If your product doesn't involve building something physical, give them a reward for reaching a certain milestone. A cool plaque for example… 2. Offer customization options - Allow customers to personalize aspects of their products. If you can't personalize your product, offering personalizable swag can be a great alternative. 3. Encourage customers to share on social media - While many of your customers will automatically share their achievement on social media, reminding customers to do so will dramatically increase how many do. A company that utilizes the IKEA Effect to drive huge success is HelloFresh. They encourage customers to share their creations on the #hellofreshpics hashtag. |
To date, there are over 270,000 Instagram posts that have used it. That's a lot of free advertising! By rewarding customers for sharing their finished products, you not only increase brand visibility but also create a community of engaged, loyal customers who take pride in using your products. |
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2CCX winner's top tip on building a successful business |
Vishal and Meghana Malkhan have won their fair share of Two Comma Club awards (eight) and have now added a Two Comma Club X award to the mix! So, this week, we figured it was time to share one of their top tips to achieving great success. Over to Vishal and Meghana… |
Proximity is Power! 💪🏻 Every year we travel to the States and rekindle our relationships with people who inspire us. Building stronger relationships enhances our vision and our sense of appreciation. Meeting our mentors and coaches regularly fills our hearts with warmth and our minds with knowledge. Their inspiration gives us a new direction and the ability to scale greater heights! Everything we learn is for our beloved community, and we believe in sharing everything we learn. A community that learns together, grows together! We are all set to share new ideas and values. Learning from the best only has advantages, and then some more... Where do you think is the best place to get in the same proximity of some incredibly successful business owners and learn their secrets like Vishal and Meghana? In the ClickFunnels world, many would say Funnel Hacking Live. Forget the incredible tools, techniques, and strategies attendees learn at FHL, many have made millions because of the other attendees they've met! Could there be a connection waiting to happen at FHL that transforms your business? There's only one way to find out… Get yourself a ticket here - Like Kyle MacDonald said, if you don't take a chance, the adventure will never happen. |
How long does it take to build a habit? |
Whether you're hoping to form a new morning habit or help your clients develop healthy habits in their lives, it's often quoted that it takes 21 days to do so. But, according to research from the University College London, this isn't even close to accurate… Here's a snippet from marketing expert, Richard Shotton's book, The Illusion of Choice: |
So, no matter what change you're trying to make, if it's taking longer than expected, cut yourself some slack, you're right on track! |
Trivia answer The world's first online marketplace was the Boston Computer Exchange, founded in 1982. This pioneering platform was created to trade used computers. It operated via a bulletin board system which was a precursor to the modern internet, that allowed users to post listings and communicate electronically before the advent of the internet. And on that note, that brings another newsletter to a close! Keep your eyes peeled for next week's newsletter because we're going into using contrast to sell more, fancy direct marketing tactics, and much more. Have a great week, -ClickFunnels Team |
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Not sure the best way to get started? Follow these simple steps to hit the ground running. |
Step #1 - Get the Funnel Books: |
Step #2 - Get the Funnel Software: |
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Step #4 - Connect With The Community: |
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