How the Name of Your Product Can Increase Sales

— TRANSCRIPT —

Hey everybody in today's episode, I'm going to be talking about why the name of your product can increase or decrease sales.

So one of the things that a lot of people sort of gloss over is what they named their product. And this applies to literally anything this applies to online courses, eCommerce products, coaching consulting, masterminds, et cetera, et cetera. The name does matter, and I know that there's a lot of gurus out there that say, Oh, my name or your product doesn't matter. And I, I don't really agree with that. I used to agree with that more from like a mindset issue of, you know, don't sit there for two weeks and try to decide on the name of your product, just get going. And I agree with that, but it really does matter longterm. And here's why a good friend of mine. And I actually did an episode where we featured a, some advice I gave him on in my mastermind, but a good friend of mine, Colton, he owns a CBD company and they make all kinds of you know, CBD products like CBD gummies and CBD oils and, and all this stuff that helps with anxiety.

Cause you know, I've used CBD for the past couple of months. And it really has helped calm me down with anxiety and stress and things like that. And one of the reasons I started was because, you know I was chit-chatting with him and he was telling me about it and he sent me some of his products and they really did work. But his, his company is called anxiety hackers. And I think the website is anxiety, hacker cbd.com where he has all, all this stuff. And so one day he, I go to this website, right. And you know, I'm looking at the website and I see that there's these dog treats or like dog biscuits. And I say to Colton on one of our coaching calls, I said, Hey what, what are these dog treats here? You know, like w what are these dog biscuits with CBD?

And he's like, yeah. I'm like, well, well, you know, what do they do? And he goes, Oh, they, they calm your dog down. I'm like, Whoa, wait a minute. I'm like, you're telling me, you give this, you give dogs a biscuit, this, this biscuit. And it calms them down. Like, if they're like freaking out being hyperactive and he's like, yeah. And it's funny. Cause he was just like, yeah. You know, like no big deal. And I'm like, dude, I'm like, that's a great product. And I'm looking at the name of the product and it's something like anxiety, hackers, five milligrams CBD, infused dog, treat something like that. And I go, that's what you name the product. And he's like, yeah. And I'm like, so let me get this straight. When somebody goes to your website and they see, but that's the name of the product?

That's the name? That's on the bag, et cetera. And he goes, yes. And I go, well, how many of these do you sell? And he's like, not many. And I'm like, well dude, change the name to quiet treats. And he goes, change the name to quiet trust. I'm like, yeah. I'm like, nobody cares that a dog biscuit is called anxiety hackers, five milligram, blah, blah, blah. It doesn't really mean anything to anybody, but quiet treats. What does that mean? That means it's a treat. They make you talk quiet. Right. And I was actually gonna say calm treats, but I looked it up and I think there's like a trademark on that. So you can't do that. But the point here is that the name of your product should signify. They should signify the end result, quiet treats. And so I made a post on Facebook the other day.

And it was funny because I said, I said to Colton, I said, Hey man. I said, do these treats like, be honest with me, do these treats really work? And he goes, well, yeah. I said, so, so you have a picture on your website, have a bag of treats with a, not the greatest name, but there's no demonstration video. He's like, what do you mean demonstration? I'm like, okay, if you, do you have a dog? Yes. I'm like, is your dog like super hyperactive? He's like, yes. That's why we actually got these. And I originally got them from my dog and then they were great. And so I started offering them on the website and I go, okay, I want you to grab your phone. And I want you to take a video of you playing with your dog, showing that he's like super hyperactive.

And, and that he's just like, you know, not calm at all. Right. And then I want you to give him the dog treat. And then I want you to film him how his behavior is and how he's like a half-hour later. Right. So he goes, okay, so he films it and he sends me the video and it's a great video. It's literally, they're like throwing this ball, the balls chewed up, like the dog completely destroyed it. Right. Just completely obliterated this ball. And he still got just tons of energy. So, so Colton handsome, the dog treat, he eats the dog treat and then it cuts to about, about a half-hour later. And the dog is, I think the dog's name is Zeus. Zeus is laying down on the living room floor or just sort of like chilling and just, you know, just totally relaxed.

And Colt goes, Oh, it worked, this, this should be, this should be on your, on your landing page. This should be the video. And so I thought it was so cool and I don't have a dog, but I still thought it was cool if I did, I have a dog and the dog was hyperactive, you can be rest assured that those doctorates would be in my pantry. But I tell T I said, okay, put the video on the website. So he puts the video on the website. So I share the video the other day. Right. And all of a sudden, all these comments come in, Oh, I need these I need is. And I, and I said, you know, if you have a hyperactive dog, my good friend, Colton has this amazing product called quiet treats and you can get him here. And here's a video demonstration.

People go nuts, right? People were commenting, going nuts about it. And all of a sudden people will started buying the dog treats as well as choosing auto-ship. Cause they have this program on their website. You know, you get a discount if when you buy it, the dog treats or I believe they have this for all the products on there, but you can choose like automatic shipping, which means you get a new bag ag or how many of our bags of dog treats quiet treats everything every month. And when you do that and it's automatically shipping you in charge every month for the quiet treats, you get a discount, right? So they end up being less money. And I thought that was a great offer. So yeah we had the, you know, they had a bunch of people sign up for that. And it really was just like, he, they, they weren't focusing on this product.

They weren't making this product. But I said to call him, right. People love their dogs. And one thing I know about dog owners is that one of the biggest struggles we'll say have is that their dogs are too excited. They got too much energy. And so, you know, a CBD dog treat you name it, quiet, treats it signifies the end results. That's tux quiet. Right? You give them the dog treat. I mean, that is a perfect, perfect product. I mean, that's a great product. Why aren't you pushing this? Right. So I said, let me, let me, let me prove it to you. So they changed it, the website to say, quiet treats, put up the video on the, on the website landing page. I shared the video and sure enough sales came yeah. Flooding in including the auto-ship itself. And if you think about it, right, the name of the product absolutely does matter.

I'm gonna give you another example. Cause that, that was an eCommerce example, right? Like that, that bag of dog treats is only like, I don't know, 15 or 20 bucks. So it's like a low ticket. It's just, you know, it's just any commerce product, but what about like high end coaching and consulting? Well, let me tell you something that happened to me over the past couple of years. So I had this, this program called, Sold Out Courses. Right. And I named it that because again, right. Let's say it was called something like, you know, elevate your brand or like I mean, that's not even that bad. How about, how about something like something, something really dumb, like the unfair advantage or something, right? Like, let's say you had a course or coaching program called you know, unfair advantage accelerator. Right.

So that name doesn't really mean anything. Right. It doesn't really mean anything. And so when somebody says, Oh, you should get into Dan or so. And so's you know, unfair advantage accelerator. People see that and they just pass it by. Oh, that's cool. That sounds cool. But when I named the product sold out courses, it tells you exactly in one short name tells you the end result to have an online course that sells out. Right. So when somebody says, Oh, I'm in Sold Out Courses automatically because of that, people just sort of virally started asking about it. Let me give you an example. A couple of years ago, when, when I was you know really promoting this we had people who would recommend me in various entrepreneur groups. And when somebody said, who is a good person to learn or what, what's a great program to learn how to sell an online course, people would say, Oh, Dan Henry sold out courses, right?

Or, Oh, I'm in Sold Out Courses or let's say somebody had a result and they, Oh, I made $10,000 last week and I'm in Sold Out Courses. Right. People see that name and they go, that is what I want. I want to Sold Out Courses. So they check into it. But if it was something like an unfair advantage accelerator, it's like, eh, like what is, you know, they don't really, it doesn't really spark that it doesn't raise that eyebrow because it's, non-descriptive, it's just sounds cool. Right. So what happens is when you have, I have a product name that clearly defines the outcome, so that courses, it, it will help word of mouth and word of mouth online is huge, especially in Facebook groups and things like that. It really does help. Now here's the caveat. So when I, and I regret calling it this somewhat, and I'll tell you why as time went on, we did two things.

Number one, we expanded on that program. And instead of just offering help to people who want to sell online courses, we began helping people who were selling coaching, consulting software masterminds. And the reason for that is because I've, I've made seven figures with a mastermind. I've made seven figures with online courses. I've made seven figures with coaching I've and I've made seven figures with consultant, direct consulting. So it's like, you know, I've worked out processes for those various things. And people began asking me like, Hey Dan, I know that you, you teach people how to sell online courses, but can you teach, can you just give me, I grow my mastermind? Hey, Dan, I noticed you, you owned a software and then you sold it for multiple millions of dollars a couple of years later. Can you teach me how to grow my software?

And I thought, well, of course I can. So we started adding in content and more resources for people that we're not just selling online courses, but really selling any type of digital product. And then what happened was we would end up getting people, pull on our sales calls or we'd get, you know, people reaching out that said, Hey, so-and-so told me that you were a great person to check into I'm a coach, but I see that the name of your program is sold out courses. I'm really looking to sell a course. So that's why I didn't book a call or that's why I'm not in or whatever. And I started seeing this over and over again. And then we get other emails like, Hey, Dan, I really wanted to join this program. I love your stuff, but I own a software. And I noticed that your program is called sold-out courses.

So you know that, you know, I'm not really looking to sell a course and I'm sitting there and I'm like hitting myself in the head, like, ah, like, like we've got people coming into this program that we're helping grow software. We have people coming into this program that we're helping sell coaching and consulting and masterminds, not just online courses. And so it's just like, I really want to help these people. We can help these people, but they're getting hung up on the name. And when word of mouth happens, you don't have any control over that. Right? Like if you watch a webinar or an ad for me, and I say, Oh, by the way we now help. Okay, fine. But if you're just talking to people outside of the funnel and there's word of mouth, and they're saying, Oh, Dan's programs called sold-out courses.

Oh, well, I'm not looking to sell of course. And boom, you just lost a prospect. Right. And so I thought about it and I thought maybe I should change the name. And, or maybe I should create a new program and add more stuff into it and change that name. And I began like running through this in my head. And then what really put me over the line was that this was crazy. People would get on sales calls and they'd say, well, I really don't want to invest in another course. I need coaching. Now here's the funny thing sold out courses was a coaching program. It was just called sold out courses. That didn't mean it was a course is a coaching program always has been a coaching program. It has multiple courses in it, but we have literally four calls per week. We have a beginner call, an advanced call, a sales training call and a tech call, a tech support call like, like that's a coach program.

So I started talking to my sales reps and I'm like, how many people are saying, you know, or giving you the objection that they want coaching. And not a course. And my sales reps will say, well, Dan, we get that a lot. And the funny thing is, we tell them it's a coaching program, but for some reason, just because of the name, they, they get it in their head. That it's just another course. And I go, okay, I've made a decision. So what we ended up doing was changing the name of the program to digital millionaire coaching. And I did that for two reasons. Number one, it's in brand with my book because my books called digital millionaire secrets. And number two, it says right in the name digital millionaire coaching. So it literally spells it out for you that it's a coaching program.

And at the same time, digital millionaire is more applicable to somebody who sells digital products. Whether that be, whether that be coaching, consulting, courses, software, or even a mastermind, right? You sell information. We can help you. And I literally changed nothing else about the funnel, the, the, the, the, like the process, like everything else was the same. We just updated our branding. We updated our logo. We updated the name we added in, you know, new content that we're already adding in. But the thing is just really changed the name. And just from that, it increased our sales because we stopped getting the objection of, well, Dan, it seems like you can only help me sell a course. So that went away. And then we stopped getting well, Dan, I don't want to buy another course. I need coaching that went away. And all it was was the name of the freaking product.

And it's so insane how the name of your product can help or hurt you. And so I, and when you're just starting, okay, just to be clear when you're just starting, it doesn't matter as much, but when you start to build up an audience and people start to know you and they start to talk about you, that thing does matter for instance, think about this. Hey, I'm John. I got these dog treats that calmed down my door. They're really great. You should try them. Oh, what are they called? Anxiety hackers, five milligram CBD infused dog treats. Wait, what? Let me write that down. And then next thing you know, they can't find a pen. They can't find a paper and they're there. You just lost a sale. Let's do, let's do that again. Hey, John, you should really check out these dog treats that I got for my, my dog.

They calm them down. Oh, what are they called? Quiet treats. Oh, quiet treats. I can remember that quiet treats. All right. And then somebody just goes and types in quiet treats and boom. There it is. The name of your product does matter whether it is an e-commerce product, where it is a coaching product. It does matter. And that is why I don't like to be super vague. Like I don't like to call, like, my book is called digital millionaire secrets. It's not called, you know, something dumb, like unfair advantage or, or my program is not called unfair advantage accelerator or unfair advantage basket. It's like, I get it. I've seen a, probably about five products in the past month on Facebook with the term unfair advantage in it from various people, not from one person from various people. I've seen the same name and it's like, I get it.

Like I get it. You're saying you have an unfair advantage to life or business and blah, blah, blah. I understand it. I do. But I just think it's very amateur because at the end of the day, you're going to grow and people are going to start recommending you and saying something like, you know level up is like, okay, you know, that sounds cool. But when you say like, Hey, digital millionaire coaching, it's like, well, I want to be a digital millionaire. I want to be, you know, an online millionaire and I want to get coaching. I don't just want another course or whatever, but it's very descriptive, even sold out courses. Like if you want to sell it, if all I wanted to do was teach people how to sell courses and that's it. And I did not want to expand to others then.

Absolutely. That would have been a great name to stick with, but I did expand. And so, and we even helped people sell services in the program. The only thing is it has to be a higher ticket price, not 500 bucks for graphic design. We help people sell like, you know, two to $10,000 a month or, or a $50,000 one time services, or, you know, so, you know, basically selling high ticket over the phone. Anyway, I digress. The point is that the name of your product should signify the end result, digital need coaching, right? I want to be a digital millionaire and I want to be coaching. Boom, quiet treats. I want my, I want to give my dog a treat and he becomes quiet. They signify the end result, digital my book, digital millionaire secrets. I want to be a digital millionaire.

I want to know the secrets. Boom. All right. So it should signify results so that when people start considering you outside of your controlled market, hitting funnel, that you have 100% control over and they move into word of mouth where you don't have 100% control. You have barely any control that you want. The name of your product can become sort of viral and be easier to share via word of mouth. It's way easier to say, Hey, strike quiet treats, then Hey, you should try things. Anyhow. Okay. Anxiety Hacker five milligrams infused CBD dog treats. Like it's much easier to spread, right? Like this and not to use a terrible, terrible analogy. But well, I won't say that. I'll say you want it to, you want it to grow like a weed. Okay. I actually, I was going to say spread like a virus.

That's probably not appropriate to say right now, but the point is you, do you want it to spread as easily as possible? And if you make it a complicated name, a vague name, a name that doesn't signify, the end result, it's going to limit the spread. Okay. It's going to limit its ability to spread and to permeate conversations. But if you make it a name that signifies the end result, that is easy to remember. And that show that just from the name people go, I want that. Then it's going to spread like wildfire. It's going to spread like nobody's business because it's going to permeate conversations and, and dialogue. And it's word of mouth. I mean, if I look at my tracking software, right, I can tell you exactly where I get sales from. I use a very advanced tracking software that allows me to know if I do a podcast interview, I can tell you how much money I made from being on that podcast interview. Based on the link that I share. I like every Facebook ad, every YouTube ad, every podcast episode, I can tell you where every single sale comes from in my entire business, but there's one category that you can't tell. And that's word of mouth that is word mouth.

And that is from people literally typing in my website or typing in Google search. I mean, I can track it from there or literally just going in and finding me. And we do six figures per month just in people finding us. And then of course we do multiple six figures in our advertising efforts and YouTube channel and all that. But guys think about that. That's six figures in a month from word of mouth. And I can tell you right now that when I changed, when I started becoming more conscious of my product names, that number increased, I can look at the reports. I can literally look at reports and say, I changed the name of this on this date. And I can look at the graph and see an upward trend in sales from word of mouth. After I changed it, like probably about 45 days after I changed it, I saw an upward trend because obviously it takes time to catch on it's real. So next time you're going to name a product, whether it's a $5 e-commerce product or a $50,000 mastermind or a five or $15,000 coaching program, think about the end result your client wants when you name your product and will absolutely help spread word of mouth. Hope you guys enjoyed this episode and I will see you in the next one.

Hey, Dan Henry here. And if you enjoyed this episode, make sure to visit clients.com for more free resources on how to grow your online business. And if you love this show, don't forget to leave me a five-star review. See you in the next episode.