🪄 Testimonial Hacking

PLUS: Uncover Private Companies Doing £10m in Revenue

Author

Startup Spells 🪄
July 02, 2024

Hey,

The Spells Master is back!

Welcome to the 87th issue.

Today's topics:

  1. Testimonial Hacking

  2. A tool to Uncover Private Companies Doing £10m in Revenue

  3. One recommended video on Understanding How People Think by Tony Robbins (rare video)

Testimonial Hacking

Testimonial hacking is a strategic approach to rapidly accumulate and leverage customer testimonials for marketing purposes.

This method involves incentivizing customers to provide public, positive feedback about your product or service.

Humans are memetic creatures. They trust other people by default. So if you get good testimonials for your product, other people are more than likely to try it. Nobody wants to be the first one to try a brand new product.

Daniel Fazio used Testimonial Hacking to sell his course to over 8,000 people and make over $10m+ in total revenue across all his products.

Here's how it works:

1. Ask Your Customers for Testimonials

Cold Email or Cold DM the people who bought your stuff.

He emailed 8000 people who bought his Cold Email course for public testimonials.

He specifically asked them to post something good about his product on Twitter/X.

2. Offer a Reward

Give them something for free if they help you.

Daniel offered them a free consultation call to answer any of their questions regarding their business.

3. Tell Them What to Say

Ask them to mention how much money they made or saved using your product. Make sure it includes actual numbers rather than just generic words.

This shows other people that your stuff really works.

4. Share Their Posts

Daniel used a Twitter scheduling tool like Hypefury to automatically retweet what his customers said every couple of months.

He got 20-30 good reviews every single month.

Why This Works So Well

  1. Lots of Proof: It shows that many people like your product.

  2. People See It: The good reviews are all over social media.

  3. Looks Real: Because real customers are posting, people trust it more.

  4. Cheap Advertising: You don't have to pay for ads; your customers do the talking.

  5. Snowball Effect: More good reviews can lead to more sales, which means even more reviews!

You can combine Testimonial Hacking with asking for reviews within the course itself like Alex Hormozi did with $100m offers to get even more reviews.

A tool to Uncover Private Companies Doing £10m in Revenue

Companies House allows you to find Private Companies Doing £10m in Revenue.

UK has this rule where if you're a private company north of £10 million in revenue, you have to report all of your income.

Anyone can go and see income statements for privately held companies. Companies House truly is a god send when it comes to competitor research.

You can see the different profitable business models and figure out what is needed to start something yourself.

In fact, you can reverse-engineer startup marketplaces like Acquire.com to find startups making millions but Companies House gives the actual company name with revenue.

This video was sent to me by my smart friend and it legit blew my mind away.

Tony Robbins is only 27 years old in it.

One takeaway that I learned from it is that I am a mismatcher who likes to point out the exceptions to the rules. Once you learn how people think, you can nudge them specifically to do what you want by making them convince themselves.

Top Tweets of the day

1/

Sneaky little hack.

2/

Everything from movies to songs to startups have a finite number of combinations. Once you find the right combinations, things start working.

Rabbit Holes

  1. 25 Hooks for TikTok, Instagram Reels, and YouTube Shorts - Hooks are everywhere. If you want to grow on social, you need to be a master of hooks. Even while sending this email, I have to keep playing the subject line game otherwise I get fewer open rates. "On the average, five times as many people read the headline as read the body copy. When you have written your headline, you have spent eighty cents out of your dollar." ~ David Ogilvy

  2. What is the $1 Product Challenge? - The best buyers you can have are the people who have already bought from you even if its $1.

  3. Introducing ReadReviews.dev - Beautiful usage of AI in a simple product. You can build a product like this for your own niche. It can be implemented as one-time product with "Bring Your Own API Key" play.

Until next time,

Your Spells Master!

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Read all the old case studies here.

More Startup Spells 🪄

  1. Closet Tools Marketing Playbook (LINK)

  2. How Alex Hormozi Got Tons of Reviews for $100M Offers (LINK)

  3. Intro's X (Twitter) Strategy (LINK)

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