I Would Give Away 100% Of My Profit To Do This
A business advisor suggests a growth strategy for a genetic testing company that sells reports for $400-$500. The advisor recommends giving 100% of front-end profits to science-focused influencers to maximize reach and drive organic sales.
Summary
The transcript features a conversation between a genetic testing entrepreneur and a business advisor. The entrepreneur explains that they sell genetic reports at $400-$500 (whole genome) and serves a diverse customer base dealing with issues such as infertility, pregnancy complications, neurotropic issues, depression, and anxiety.
The business advisor articulates that the entrepreneur's core message is clear: many personal health problems stem from genetics. Based on this, the advisor proposes an influencer marketing strategy where the entrepreneur would recruit science-credible, authentic influencers and offer them 100% of the profit from front-end genetic test sales. The advisor argues this costs the entrepreneur nothing meaningful while incentivizing influencers with real earnings, generating widespread awareness, and driving ancillary sales from people who discover the product organically through word of mouth or direct site visits.
Key Insights
- The entrepreneur sells whole genome genetic reports for $400-$500 and attracts customers dealing with infertility, pregnancy issues, neurotropic problems, depression, and anxiety.
- The business advisor characterizes the entrepreneur's core value proposition as: the problems people have originate from their genetics.
- The advisor recommends targeting 'scientistic' (science-credible and authentic) influencers specifically, rather than general lifestyle creators.
- The advisor argues that giving influencers 100% of front-end test profits costs the entrepreneur nothing, since those sales might not have happened otherwise, while generating significant brand exposure.
- The advisor predicts that widespread influencer promotion will drive ancillary direct sales from people who hear about the product and visit the site independently, making the profit giveaway a net positive strategy.
Topics
Transcript
[0:00] And I sell genetic reports and I have all these different types of people coming to me and saying I have this problem, infertility, pregnancy, neurotropic issues, depression, anxiety. >> How much does the genetic test cost? >> Uh, it'll be $400. Whole genome now $400 or $500. >> To me, the message you have is really clear, which is that the problems that you have come from your genetics. I would do this if I were you. I would recruit as many influencers who are science scientistic. I'll say that authentic. I would say I'll give you 100% of the profit on the front end test. I want as many people as possible to get tested. They'll happy…
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