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What is a MIFGE? And How It Earned A 2 Comma Club in 30 Days

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If you don’t know me, I’ve been building sales funnels for over 20 years.

But in 2022 I created one of the best sales funnels I’ve ever had.

It made (more than) a 2 Comma Club Award in the first 30 days.

And get this.

The front-end offer was free!

For those who may not know, a 2 Comma Club Award is provided for anyone who builds a funnel that makes two-commas worth of sales - aka over 1,000,000 (see the commas?)

The idea for this funnel comes from the marketing legend Dan Kennedy and it’s what he used to sell nearly all his magazines, courses and materials.

It’s called the ’MIFGE’.

And today I’m going to walk you step-by-step through how to create a MIFGE for your own business too.

Let’s get into it!

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What is a MIFGE?

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Let me explain the MIFGE with a quick story.

The company I co-founded (ClickFunnels) acquired Dan Kennedy’s company Magnetic Marketing in 2022.

(If you don’t know who Dan Kennedy is…he’s known as one of the highest-paid copywriters in history.)

But Magnetic Marketing was down to 1,000 newsletter subscribers and had no ads running when we bought it.

We needed to bring in revenue and subscribers – fast.

Luckily for us, we’d just acquired a Google Drive containing all the resources ever created by Dan.

There were hundreds of offers we had before us.

A lot of them were proven winners.

So I asked the Magnetic Marketing team if there was one offer above all that brought the most success to the company.

“Oh, that’s easy, the MIFGE,” they all said.

“The MIFGE?”

“The Most Incredible Free Gift Ever!”

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Introducing…The “Most Incredible Free Gift Ever”

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The MIFGE is kind of a mouthful – but stick with me!

Because if Dan Kennedy used a MIFGE to sell nearly all his programs then you know it’s going to be gold dust.

So here’s how it works.

You give away an insane amount of value for free.

It sounds crazy – I’ll explain the money-making aspect below.

But first let me tell you what was inside the MIFGE we built to relaunch Magnetic Marketing:

  • Latest issue of the NO B.S. Magnetic Marketing Letter and the latest issue of the Behind-the-Scenes Walkthroughs letter ($97 value)
  • Magnetic Marketing on Demand app letting your stream presentations from Dan Kennedy ($997 value)
  • Brass Balls Factor marketing course ($497 value)
  • Renegade Millionaire Time Management System seminar ($297 value)
  • Midas Touch Marketing, Midas Touch DIrect Marketing & Midas Touch Selling course bundle ($397 value)
  • Funnelology Masterclass ($997 value)
  • DotCom secrets LIVE seminar ($997 value)
  • Expert Secrets LIVE seminar ($997 value)
  • Traffic Secrets LIVE seminar ($997 value)
  • NO BS & Marketing Secrets "Greatest Hits" 4 Issues ($388 value)
  • 74 Funnel Swipe File hard copy book ($497 value)
  • Magnetic Marketing hard copy book ($65 value)
  • Discounted opportunities for Magnetic Marketing Events ($12,677 value)

In other words, we were offering $19,997 worth of marketing resources for free.

That’s a lot of value right?

Hopefully you’re starting to see why there’s not really another term for the Most Incredible Free Gift Ever!

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Why Implement a MIFGE in Your Business?

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The best way to explain is to tell you what happened next…

Because within 30 days of launching this MIFGE it earned a brand new 2 Comma Club Award, all on it's own, through this exact funnel.

How does that work?

I started by pushing the MIFGE out to the existing 1,000 subscribers we had plus a small network of affiliates.

But the MIFGE doesn’t end with just the free stuff.

We had three things in place:

  • An order bump
  • An upsell
  • A downsell

For example, the upsell was a 12-book volume of Dan’s entire swipe file and we sold physical copies for a price of $2,500.

dan-kennedy-lifetime-works-upsell

Within 30 minutes of going live…someone had bought the $2,500 upsell!

In the first month we saw 4,100 new subscribers come in plus the existing 1,000 and that meant 5,100 total subscribers.

But here’s the thing.

Because so many people bought the order bump and the upsell I ended with an AOV of $300.

You do the math.

$300 x 5,100 in 30 days! (I'll let you do that math...)

It’s one of the best funnels I’ve ever had.

It means I can spend around $300 for one person to get the MIFGE and I still break even.

If you want to check out the funnel itself then click here.

Otherwise I’m going to explain how to build your own MIFGE below.

https://www.youtube.com/watch?v=Es9LUks7UAg

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Real-Life Example of a Successful MIFGE

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(Image Source: https://www.si.com/extra-mustard/2014/12/25/tbt-sports-illustrateds-christmas-football-phone)

Before I tell you how to create your own MIFGE…

Here’s an example of how the MIFGE can work at scale with products you already know.

Magazines.

A couple decades ago Sports Illustrated was going bankrupt, so they started including things like a free copy of the latest swimsuit edition or a free football telephone.

People bought the magazine to get the free gift…

And they ended up subscribing for months and years.

See how it works?

But the real power of the MIFGE is that you can use it to sell a range of products, services and even things like coaching programs, SaaS and high-ticket offers.

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How to Create Your Own MIFGE

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Step 1: Come up with a continuity program

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The central idea of the MIFGE is that it’s a way to get people into what we call in marketing a ‘continuity program’.

In other words, it’s great for getting monthly subscribers in.

After all, you're giving away a huge amount of value on the front-end for free…and so it makes sense to sell something with a high LTV (lifetime value).

That’s where the MIFGE comes into its own.

Not many people like the idea of a monthly subscription – especially if they don’t know or trust the product or service.

So you need an amazing MIFGE offer for someone to take the bait and have the chance to find out your content is amazing.

Understand?

But it gets better…

With our first funnel we ended up keeping on over 4,000 Magnetic Marketing subscribers at $97 per month.

Do the math.

That’s over $388,000 a month!

And that’s revenue we were generating without making a loss on the front-end – even though the offer was free!

Isn’t that amazing?

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Step 2: Come up with an irresistible offer

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Now let me mention something quickly.

The offer you use in your MIFGE doesn’t have to be free.

We priced our MIFGE at $1 – which still made it pretty irresistible.

Your MIFGE might have a cost attached.

And that doesn't matter.

The important thing is it’s an offer that's so irresistible your customers would be insane to say no.

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Step 3: Come up with order bumps & upsells

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This is where the money is made.

Let me give an example.

The order bump we used in the funnel in this story was something called the Magnetic Marketing System.

free-copywriting-secrets-book-for-entrepreneurs

We also had a second order bump where we offered sending someone a free set of three physical books.

These two order bumps brought the cart value to $117.95.

Start to see how this works?

But there’s more.

After someone took the order bump we had another upsell (the 12-book volume of Dan Kennedy’s swipe file) which was worth $2,500.

Not everyone got that upsell.

But enough did that my AOV remained at over $300.

But the cool thing is that the MIFGE helped to bring people into the funnel, and this in turn helps to keep the marketing costs down.

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Step 4: Start promoting your MIFGE

Now you’re ready to start driving traffic.

If you’re already running Facebook Ads or Instagram Ads or Google Ads, then you can just throw the MIFGE into your landing pages.

Your results should instantly improve.

But there’s a ton of ways you can use the MIFGE even if you’re just getting started out or you sell services rather than products.

For example, you can use a MIFGE to sell monthly retainers.

Be creative :)

But just remember not to give away so much value that you end up losing money!

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10. Think & Grow Rich Challenge

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If you know anything about Dan Kennedy then you might have heard this phrase before.

It’s one of Dan’s all-time favorites:

"Whoever can spend the most money to acquire a customer wins."

Let me spell this out.

The MIFGE for Magnetic Marketing let me spend up to $300 and still break even to get a new customer into the continuity program.

How many other people selling a marketing newsletter can spend that much on ads?

Not a lot.

I’ve done a MIFGE for ClickFunnels too and we can spend up to $250 and still break even.

This funny-sounding word has transformed my businesses.

Now, it’s time for you to give it a try!

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