1200 Pay Her $47/Mo, Will do $2M This Year with Boom Social CEO Kim Garst

kim-garst

In Episode #458, Nathan interviews Kim Garst, CEO of Boomsocial. She’s also the best-selling author of Will the Real You Please Stand Up, Show Up, Be Authentic and Prosper in Social Media. She’s internationally recognized and regularly contributes to www.Entrepreneur.com

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Famous Five:

  • Favorite Book? – Lean In
  • What CEO do you follow? – Sheryl Sandberg
  • Favorite online tool? — Slack, Canva and Buzzsomo
  • Do you get 8 hours of sleep?— No
  • If you could let your 20 year old self know one thing, what would it be? – “I would tell myself to become an entrepreneur”

Time Stamped Show Notes:

  • 01:40 – Nathan introduces Kim to the show
  • 02:57 – Kim was earning $ 3,000 per month
  • 03:32 – As of the moment, they are generating $ 56,494 a month
    • 03:50 – Kim asked her staff about the numbers before the interview
  • 04:17 – KimGarst.com – where her new product is
    • 04:43 – Focus on how you can truly make money from social media
  • 05:20 – Kim runs a 3-lane, 3-stage sales funnel
    • 05:28 – 3 different premiums
    • 06:10 – Starts with a free offer then a mini course
    • 06:50 – In just an hour, they can learn something and implement it in their business
    • 07:24 – “We try to over deliver and give great content”
  • 07:58 – About 11.2% of the people who take the free offer took the $ 9 upsell
    • 08:07 – 70% take the free trial directly and the 30% will eventually take the 3-stage series
  • 08:45 – Three landing pages and their conversions
  • 09:57 – Kim explaining the process of landing pages conversion
    • 10:03 – People don’t immediately go to the $ 1 trial, they download the premium first
    • 10:09 – First upsell is the mini-course
  • 12:44 – The landing page that converts 40%
  • 13:50 – 10% take the membership trial
  • 15:00 – 30% monthly churn
  • 15:15 – Customer value is $ 263
  • 15:22 – Customer acquisition cost
  • 15:25 – ROI
    • 15:30 – Spent on Facebook ads
    • 15:55 – 18% of profit is organic
  • 16:16 – You can get traffic for free from social media
  • 16:38 – Been using Facebook ads for quite a few months
  • 17:00 – Average opening cut-through rate
    • 17:12 – Open rate used to be 18-20% but right now it is 15-17%
    • 17:25 – “I’m always wanting more”
  • 18:20 – 2015 Boomsocial’s total revenue
  • 19:30 – Connect with Kim through her website and Boomsocial.com
  • 21:40 – The Famous Five

3 Key Points:

  1. People will come back to you if you have good content.
  2. Increasing traffic through organic campaigns is free and effective.
  3. Don’t be content—always find ways to improve.

Resources Mentioned:

  • Toptal – Nathan found his development team using Toptal  for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to quality of Toptal  developers.
  • Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
  • Freshbooks – The site Nathan uses to manage his invoices and accounts.
  • Leadpages  – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
  • Assistant.to – The site Nathan uses to book meetings with one email.
  • Boomsocial.com – Kim’s business website
  • KimGarst.com – Kim’s personal website
  • Show Notes provided by Mallard Creatives

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