The New Workshop Model: How Joel Erway Builds a Lifestyle Business

In this energetic podcast, marketing expert Joel Erway shares his customer acquisition strategies with Chad Kodary, with a focus on running paid workshops. He explains how he transitioned from webinars to workshops and the benefits of this approach, emphasizing the importance of variety in engaging audiences and the value of paid customers.

Watch full podcast below...👇

Introduction and Background

The shift from webinars to workshops has marked a significant change in Joel Erway's approach to customer acquisition and content delivery. With a focus on serving course creators and coaches, Erway's strategies have evolved to prioritize engagement and value over traditional sales tactics.

This approach has not only diversified his offerings but also aligned them more closely with his audience's preferences and needs.

Customer Acquisition Strategies

Erway's customer acquisition strategies revolve around the creation and promotion of paid workshops. These workshops serve as a primary tool for engaging both cold and warm audiences, facilitating a deeper connection with potential customers.

By offering actionable content in a live format, Erway has successfully attracted a dedicated following willing to invest in his expertise.

From Webinars to Workshops

The transition from free webinars to paid workshops represents a strategic shift towards offering more value-driven, interactive experiences. This move not only differentiates Erway's offerings but also attracts a more committed and engaged audience.

Paid Workshops and Ascension Models

Paid workshops have become the cornerstone of Erway's business model. By focusing on delivering specific, actionable content in a live setting, he has been able to provide immense value to his audience.

This approach has facilitated a natural ascension process, where participants are more inclined to explore further offerings based on the quality of the workshop experience.

Benefits of Paid Workshops

Paid workshops offer several advantages, including higher engagement rates, a sense of community among participants, and a willingness to ascend to higher-value offerings. This model has proven effective in building a loyal customer base that sees the inherent value in Erway's content.

Running Ads and Workshop Attendance

Erway's strategy involves running targeted ads to drive traffic to his paid workshops. This approach has allowed him to reach a wide audience and convert them into paying customers.

The success of this model lies in its ability to attract individuals who are genuinely interested in the content, resulting in higher attendance and engagement rates.

Transitioning from Free Webinars to Paid Workshops

The shift from offering free webinars to paid workshops has been a game-changer. This transition has not only improved the quality of attendees but also increased the perceived value of the content offered. By charging for workshops, Erway has been able to filter out casual browsers and attract a more dedicated audience.

Goals and Offers in Webinars

The primary goal of Erway's webinars is to deliver value and actionable content. Rather than focusing on sales, these sessions are designed to educate and assist participants in achieving specific outcomes.

This approach has fostered a trusting relationship between Erway and his audience, paving the way for higher conversion rates for his other offerings.

Different Offers for Different Audiences

Understanding the diverse needs of his audience, Erway tailors his workshop to cater to different segments. Whether it's course creators looking for automation strategies or coaches seeking higher ticket sales techniques, each workshop is designed to address specific challenges and provide practical solutions.

Transitioning to a Lifestyle Business

Erway's decision to focus on a lifestyle business model has led to significant changes in his operational strategy. By moving away from high-ticket offers and agency work, he has been able to create a more flexible and fulfilling business model.

This shift has allowed him to explore new opportunities and focus on delivering value through his workshops, ultimately achieving a balance that aligns with his personal and professional goals.

Offering a Backend Sprint

Introducing a backend offer right after a workshop purchase can significantly boost revenue. This strategy involves presenting a six-week sprint as an upsell, allowing participants to deepen their learning and implementation of workshop concepts.

Pre-selling on the Confirmation Page

Pre-selling a follow-up offer on the confirmation page can effectively capture the interest of engaged customers. By offering a deposit option for a backend sprint at a discounted rate, presenters can lock in future sales and gauge immediate interest.

Avoiding Overthinking and Scaring Yourself

The fear of saying the wrong thing can paralyze presenters. Emphasizing genuine value delivery over perfect sales tactics can alleviate stress and improve the overall experience for both the presenter and the audience.

Duration and Format of Workshops

Workshops can vary in length but keeping them concise, typically around two hours, can maximize engagement without overwhelming participants. This format allows for a focused delivery of content and interactive elements like Q&A sessions.

Paid Workshops and Community Building

Paid workshops not only offer immediate revenue but also help in building a community of engaged learners. This model supports the creation of a dedicated following without the need for constant management of platforms like Facebook groups.

The Workshop Model and Higher Ticket Programs

Workshops serve as an entry point to higher ticket programs. By showcasing a core methodology in a workshop, presenters can naturally lead participants to explore more comprehensive programs that offer deeper dives into the subject matter.

Using Core Methodology for Workshops and Upselling

Extracting key concepts from a premium program to use in workshops can provide clear pathways for upselling. This approach ensures that content remains consistent and relevant, encouraging participants to invest in further education.

Simplifying the Workshop Process and Engaging the Audience

Keeping the workshop process simple and focused on engagement can significantly enhance the learning experience. Interactive elements and practical exercises help retain attention and increase the perceived value of the workshop.

Streamlining Processes and Reducing Stress

By running workshops efficiently and focusing on delivering value, presenters can reduce operational stress and enjoy a more fulfilling engagement with their audience. This approach allows for a sustainable model that benefits both the presenter and participants.

The Limitations of Market Size and Scaling

Scaling any business is challenging, but when it comes to specific markets, the size can significantly limit growth potential. This is particularly true for niche businesses targeting a smaller audience segment.

Understanding Market Boundaries

Recognizing the boundaries of a market is crucial for setting realistic expectations for growth. Not all markets can support aggressive scaling, especially if the target audience is inherently limited.

Adjusting Strategies for Market Size

Businesses must adjust their scaling strategies based on the size and potential of their market. This might involve diversifying offers or exploring new markets to tap into.

The Challenges of Scaling Low Ticket Offers

Low ticket offers might seem like an easy sell, but scaling them presents unique challenges, particularly in terms of maintaining profitability and managing customer acquisition costs.

High Volume, Low Margin

Low ticket items require a high volume of sales to be profitable, which can be difficult to sustain without a large, engaged audience.

Customer Acquisition Costs

The cost of acquiring a customer can quickly outpace the revenue from low ticket sales, making it essential to carefully manage advertising budgets and conversion rates.

Self-Liquidation and Average Order Value

Self-liquidating offers are designed to break even on customer acquisition costs, but achieving this balance requires a keen understanding of average order value and effective upselling strategies.

Maximizing Average Order Value

Increasing the average order value through upsells or bundles is vital for making low-ticket offers financially viable in the long term.

Tracking Software and Market Size

Effective use of tracking software is essential for understanding the market size and optimizing advertising spend. However, not all tracking solutions are suitable for every business size or budget.

Choosing the Right Tracking Solution

Businesses must select tracking software that matches their spending level and provides actionable insights without overwhelming complexity or cost.

The Importance of Market Size and Advertising

The market size directly influences advertising strategies. A larger market allows for broader targeting and greater ad spending, while niche markets require more focused and efficient advertising efforts.

Adapting Advertising to Market Size

Understanding the size and characteristics of your market is crucial for crafting effective advertising campaigns that reach and resonate with your target audience.

Understanding Market Size and Advertising Budget

There's a delicate balance between market size and advertising budget. Businesses must allocate their budgets wisely to maximize reach and conversion within their specific market constraints.

Budget Allocation Strategies

Allocating advertising budgets effectively requires an understanding of market potential and the cost of reaching your target audience.

The Importance of a Large Market for Advertising

A large market offers more opportunities for scaling advertising efforts and reaching a broader audience. However, it also comes with increased competition and potentially higher advertising costs.

Navigating Large Markets

In large markets, differentiation and targeted advertising become key strategies for standing out and attracting customers.

The Power Offer Workshop and Brand Building

The Power Offer Workshop exemplifies how targeted offers can build brand awareness and establish a business as a leader in its niche. This approach aligns with understanding customer needs and offering clear, compelling solutions.

Building a Brand Through Targeted Offers

Targeted offers not only attract customers but also help in building a brand identity that resonates with the audience, setting the foundation for long-term business growth. 

We hope you found this episode helpful. Keep checking this space out for more tips to become a successful entrepreneur.