How can Ramit Sethi (I Will Teach You To Be Rich) make millions with a single email?
Let’s start by checking out the funnel at a high level.
This is a simplified view of the funnel, but it’s meant to convey the entry points and strategy used to move leads to paid conversion. The primary site currently has a quiz interface that asks a range of questions, requests an email address, and places you on the list in a campaign for an introductory (free) course that delivers some value and tees the prospect up for interest in more (paid course).
There’s a lot going on here and we’re going to focus on a single email in the introductory course campaigns. The level of attention to detail in this email is a testament to how well tested, considered, and constructed this whole funnel is (I don’t have any commercial relationship with Ramit or IWT).
Here’s an email reminder from Ramit Sethi. This is a warm-up in a sequence that goes out before you are let into the (free) course that you signed up to take. You sign up either post-quiz from the IWT home page or directly on the intro course site.
The warm-up is smart because it allows for some of the other tactics to take place and primes you with anticipation. Often anticipation is a greater force than the object or experience we anticipate, but we know that anticipation can still greatly improve the experience and make it seem more exclusive, interesting, and of higher quality.
In addition to that, we know that delivering some value and building trust with these initial emails and an introductory course will greatly improve the quality of the email list beyond a certain stage. Most importantly, this improves conversion and the number of chances you get to convert the prospect.
On to the meat. Let’s take a look at the email itself.
Time for a blow by blow on the tactics in this super targeted, tight piece of work.
1. Vision casting
He asks the reader to imagine what they will do with the object (a business) that they desire (pays for the life you want). He’s asking you to imagine the future you could have at the end of the course once you achieve the thing the course is promising. This builds anticipation and excitement. It also improves the psychology of getting the people to take action. Imagining your future place can create some of the effects of loss aversion to motivate you. Loss aversion is the psychological effect where humans feel losing something at twice the magnitude of gaining the same thing. Here, you don’t want to lose your vision.
2. Social proof
“Thousands of other people” will be joining you. Humans crave shared experience and here he’s offering you that, but he’s also using it to give you a reason to invite your friends. Friends that he can add to this funnel and he knows you likely have such interested friends because you’re here and interested. He has tied together a play for referrals with a reference that is an element of social proof.
“Class starts TOMORROW” is a classic scarcity play. You often need the reader to take action NOW or they probably won’t do so at all. This call out functions well to create some feelings of urgency (scarcity of time) in the reader and get a much better conversion rate on sharing actions.
4. Make it easy to share
If you want your reader or lead to take action, make it as easy and frictionless as possible for them to take that action. We can share three different ways here with a click and Ramit can track which ones people are using most.
5. Call to action for more, now!
Sometimes people get so fired up they want to engage with your product or service right away. You don’t always want to offer a quicker way to purchase, but you can often offer another way to engage like more content, sharing, a community, etc.
These are great touches in a warm-up sequence. They are on top of their game over at IWTYTBR. Except maybe that acronym?