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🔑 how we unlocked 7-figures of hidden revenue

Subscribe here | Unsubscribe here | FIV #50 Nov 14, 2024
FounderIV

✅ Today's Checklist: 
  • Unlock hidden revenue with ZERO additional spend via a dead simple CRO strategy
  • 8 ways I've changed my perspective since my 20s that have most improved my life
  • The supplement stack I use to stay (biologically) younger

QUICK LINKS

 
📈 Longevity. 6 tips to maintain strong bones as you age (hint: it's critical).

💀 Death to Email. How to delegate your email to stay at inbox zero forever.

🤝 Customer X. How to outsource customer service while maintaining your brand.

👑 Cash is King. 11 cash flow optimization tips for small businesses.

🤑 Entrepreneurship. How to build a billion-dollar marketplace (from the growth expert behind Pinterest & Grubhub).

🎥 TikTok Tactics. How to create a compelling TikTok video for your brand in 8 simple steps.

Anti-Aging. 12 hallmarks of aging and what you can do to slow the aging process.

Unlock Hidden Revenue with Conversion Rate Optimization (CRO)

 
Magnifying glass in green grass zoomed in on Benjamin Franklin on the $100 bill.

Do you know how much money you're lighting on fire every day?

If you don't have a repeatable conversion rate optimization (CRO) process in your company, it's like lighting your cash on fire.

How do we know?

We used to light fat stacks of cash on fire every day before we implemented an effective CRO process.

We learned that if you can double the output of your revenue generation system without paying for more traffic, then you've cut your acquisition costs in half.

Oftentimes, the key to unlocking hidden growth isn't more traffic—it's turning the visitors you already have into leads and paying customers at a higher rate than you're currently doing.

We love CRO because it's the fastest way to boost your revenue without needing more traffic.

Ready to see how a few small tweaks can double or even triple your revenue? Let's roll.

Source: Wisepops


What is CRO and Why It's a Revenue Multiplier?


Conversion Rate Optimization is the process of improving your website or funnel to get a higher percentage of your visitors to take action—whether that's making a purchase, signing up, or requesting a consultation. It's all about maximizing the value of the traffic you're already getting.

Here's why CRO is so important:
  • More Revenue Without More Traffic: Every percentage point increase in your conversion rate means more revenue—without spending a dime on additional traffic.
  • Maximizing Marketing ROI: You're likely already spending time and money on lead generation. CRO ensures you're getting the maximum return on that investment.
  • Compounding Growth: Over time, small improvements in conversion rates can have massive compounding effects on your revenue.
Thus, a repeatable CRO process in your org becomes an asset you build over time.
 
Variant A

Variant B: A 104% increase in trial starts month-over-month just by changing the color of the button and changing the offer to say "Trial" instead of "Sign Up".
 

The 4-Step CRO Process to 2x Your Conversions


Here's a simple, repeatable CRO process we've used to double, even triple, our conversion rates across multiple businesses…leading to millions of dollars of increased revenue:

1. Analyze Visitor Behavior

Before you can optimize, you need to understand how visitors are interacting with your site or funnel. Use tools like Google Analytics, Hotjar, or Crazy Egg to track user behavior, such as:
  • Where are visitors dropping off?
  • Which pages have the highest bounce rates?
  • What's the average time spent on key pages?
Why It Matters: These insights help you identify the key friction points in your customer journey—places where you're losing potential customers.

From our experience, you'll often want to focus on your top-of-funnel assets first (ads, landing pages, 1st email in the onboarding, etc.). Then, once you've optimized there, you can move on to optimizing steps lower in the funnel.

You gotta "open up" the top of funnel so you have enough flow to optimize the bottom of the funnel.

Over this process of iteration and attacking the biggest friction points in your funnel, you'll see your overall conversion rates ratchet up over time.
 
Source: Smartlook
 

2. Test and Experiment with Your Messaging


Once you've identified where visitors are falling off, it's time to test. Rule of thumb: Don't be boring with your messaging!  We usually test in the following order: 1) Headline, 2) Offer, 3) Hero image.
  • Headline: Start a split test of your control headline and a new "variant" headline. Run traffic evenly to the two pages with the only difference being the headline copy. After 50-100 visits, you'll likely see one headline beating the other. Take the winning headline and now write a new headline and try to beat the new control using Unbounce (for on-page A/Bs). This is an iterative testing process that over time, begins to ratchet up your conversion rates as your headlines get better and better.
  • Offer Positioning: Experiment with how you present your offer. Do visitors understand the immediate benefit of opting in or making a purchase? Does the value of your product or service far exceed the price of it? The bigger you make the gap between perceived value and price, the higher your offer will convert.
  • Hero Image: Finally, once you test into a strong headline and a strong offer, we've found that the hero image above the fold has a lot of power to improve conversion on the page. We run the same testing process with hero images as we do with headlines (we'd recommend Unbounce once again—unless you are running micro-tests on Instagram, TikTok, etc). It's an iterative testing process over time to find your strongest winner.
Why It Matters: Your messaging is often the first point of friction. Once you run multiple tests on your headlines, offers, and hero images, you'll find that your conversion rates increase over time.

Important: Remember that higher conversion rates are an asset in your business that keeps giving back in perpetuity.
 
A 31% increase in conversion rate, just by substituting the word "Create" with "Design" in the landing page headline!

If you want to dive deeper into the mad science of CRO, read the rest of our CRO guide here.

Andy Mackensen Headshot


 Andy Mackensen (Co-Founder, LeadRoller)

Give Yourself the Freedom to Scale


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8 Areas of My Life Where I've Altered How I Look at The World

 
Sean Kelly sitting in a chair in the shade overlooking the ocean.

I'm 41.

And while I may not be smart, I'm not as dumb as I used to be.

Here are 8 areas of life where I've altered the way I look at the world (and would recommend these alterations to others too).

A former version of me…

1. Thought all anger was bad

I used to think that all anger was "bad", but now I feel bad for people who never feel it.

Anger acts as positive fuel when positioned effectively.

Don't take your anger out on other people—instead use it to create the change you wanna see in the world.

2. Tried living a "perfect" routine every day

Sure, have a routine. If you don't, you will hardly achieve anything meaningful.

But a lot of life's magic happens during the gray areas of life.

Or the time that's not perfectly planned.

Too much routine makes you robotic. And lame.

3. Emphasized cardio >> resistance training

I used to put cardio on a higher pedestal than resistance training.

But now I've realized that resistance training is much more helpful in:
  • Losing weight
  • Building muscle
  • Optimizing energy & metabolism
Now I lift 4x per week and look/feel better than ever.

4. Used to try & please people

I thought that trying to please others = kindness. I was wrong.

Kindness is being authentic, direct, and honest.

Trying to please others creates an inauthentic relationship and makes us think we have control over how others feel.

Just be you.

5. Aimed to get to inbox ZERO every day

Most of my nights were spent reading & replying to every email, only to wake up to 100s more.

How dumb.

Some emails matter. Most don't.

Inbox 0 isn't the goal. Being an effective communicator & getting important sh*t done is the goal.

6. Treated 'rich' people better

I thought that rich people deserved more praise.

But rich people aren't better at life, they're just better at making money. Or got lucky.

What matters most is how you show up & the impact you make.

Many great people aren't slaves to $$.

7. Allowed toxic people in my life

I'd put up with all sorts of people, even at work.

No longer. If you're a bad person or give off bad energy or I can't stand being around you...

I will avoid you, even if it's bad for biz.

Life is too short. Spend it with those you love.

8. Cared primarily about making money (not art)

Working for $ isn't bad, but it shouldn't be everything.

It's also important to have an elevated goal that fulfills your soul.

You were put on this earth to CREATE.

Also—money follows value and value comes from creation.

Art first!

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The Supplement Stack I Use to Stay Biologically Younger


I got nailed with a community note for posting this X thread without the disclaimer that I'm an investor in Lifeforce. Oops.

And while the hook is a bit silly, it worked. Especially since it seems that 1/2 of the world likes supplements and 1/2 hates them.

For the record, I don't think using supplements is the most important strategy when it comes to longevity and lifespan. Rather, I think, as their name implies, they can be used to fill gaps and supplement a healthy lifestyle.

Exercise, healthy eating, mindfulness, positive relationships, and high-quality sleep are 10x more important than any supplement stack…but that doesn't mean supplements don't help.

I believe they do, and this is my current routine:

I take more than 40 supplements a day. At 41, my biological age is just 27. If this picture makes you cringe, you need to understand the science behind why it works. 

MORE

 

🤝 Let's Connect: Here's my LinkedIn and Twitter/X for more tips & content on how founders can achieve better performance, accumulate more wealth & experience greater freedom.

💬 Reminder: If you want to join us in Los Angeles for founder workouts please let me know by replying to this email with "Sign me up for FounderIV workouts" and I'll put you on the list.

↩️ Feedback: Have any recommendations for what you'd like to see in this newsletter to help you improve your performance, freedom and/or wealth? Let me know by replying directly to this email. I'd love to hear from you.

That's it for this week. See you next Thursday.

Let's roll,

SPK 🎙️
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