StarZero All shows Try the podcast clipper →

Oct 25, 2016 · 25m · top-founders

EP 458: 1200 Pay Her $47/Mo, Will do $2M This Year with Boom Social CEO Kim Garst

Kim Garst · 12m spoken Nathan Latka · 10m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

In this episode of The Top Podcast, host Nathan Latka interviews Boom Social CEO Kim Garst, dissecting the exact sales funnels, paid advertising metrics, and continuity strategies that scaled her digital membership to 1,200 paying subscribers and over two million dollars in annual revenue.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 45.7% of the talking time here. How this is scored →

Nathan as informed peer 4.3 Guest teaching 2.1 Guest disagreement 0.9 Nathan pushing back 2.0
05100:0010:0020:000:28–2:42 · Nathan as informed peer 0/10 Top Tribe Contest Winner and Subscription Giveaway Solo intro monologue where Nathan announces a contest winner, pitches an assistant tool, and introduces Kim Garst.2:42–5:04 · Nathan as informed peer 5/10 Boom Social's Continuity Revenue and Inner Circle Nathan asks for revenue updates on the continuity program, and Kim reveals she pulled exact numbers knowing Nathan's interview style.5:04–7:32 · Nathan as informed peer 5/10 The Three-Stage Sales Funnel and Freemium Model Kim details her three-stage sales funnel strategy from freemium to mini-course to trial, with Nathan following along attentively.7:32–14:26 · Nathan as informed peer 8/10 Analyzing Funnel Conversion Rates and Tripwire Pages Nathan live-navigates Kim's website to scrutinize conversion claims, pushes back on confusing numbers, and calculates the exact conversion waterfall.14:28–16:53 · Nathan as informed peer 7/10 Customer Retention, Acquisition Costs, and Traffic Channels Nathan instantly converts Kim's 5.4-month average retention into a 20% monthly churn rate and explores her paid acquisition economics.16:53–19:39 · Nathan as informed peer 6/10 Email List Metrics and Membership Revenue Totals Nathan cross-examines email engagement metrics and verifies the math behind 1,200 active members yielding $56k monthly recurring revenue.19:40–24:04 · Nathan as informed peer 3/10 Sponsor Spotlight: Inbox Meeting Assistant by Cirrus Insights Sponsor placement followed by rapid-fire Famous Five questions covering business books, routine tools, and entrepreneurial advice.24:04–24:34 · Nathan as informed peer 0/10 Episode Recap and Key Business Takeaways Host outro recap summarizing Kim's core business metrics followed by an ad spot and contest reminder.0:28–2:42 · Guest teaching 0/10 Top Tribe Contest Winner and Subscription Giveaway Solo intro monologue where Nathan announces a contest winner, pitches an assistant tool, and introduces Kim Garst.2:42–5:04 · Guest teaching 2/10 Boom Social's Continuity Revenue and Inner Circle Nathan asks for revenue updates on the continuity program, and Kim reveals she pulled exact numbers knowing Nathan's interview style.5:04–7:32 · Guest teaching 4/10 The Three-Stage Sales Funnel and Freemium Model Kim details her three-stage sales funnel strategy from freemium to mini-course to trial, with Nathan following along attentively.7:32–14:26 · Guest teaching 5/10 Analyzing Funnel Conversion Rates and Tripwire Pages Nathan live-navigates Kim's website to scrutinize conversion claims, pushes back on confusing numbers, and calculates the exact conversion waterfall.14:28–16:53 · Guest teaching 3/10 Customer Retention, Acquisition Costs, and Traffic Channels Nathan instantly converts Kim's 5.4-month average retention into a 20% monthly churn rate and explores her paid acquisition economics.16:53–19:39 · Guest teaching 2/10 Email List Metrics and Membership Revenue Totals Nathan cross-examines email engagement metrics and verifies the math behind 1,200 active members yielding $56k monthly recurring revenue.19:40–24:04 · Guest teaching 1/10 Sponsor Spotlight: Inbox Meeting Assistant by Cirrus Insights Sponsor placement followed by rapid-fire Famous Five questions covering business books, routine tools, and entrepreneurial advice.24:04–24:34 · Guest teaching 0/10 Episode Recap and Key Business Takeaways Host outro recap summarizing Kim's core business metrics followed by an ad spot and contest reminder.0:28–2:42 · Guest disagreement 0/10 Top Tribe Contest Winner and Subscription Giveaway Solo intro monologue where Nathan announces a contest winner, pitches an assistant tool, and introduces Kim Garst.2:42–5:04 · Guest disagreement 1/10 Boom Social's Continuity Revenue and Inner Circle Nathan asks for revenue updates on the continuity program, and Kim reveals she pulled exact numbers knowing Nathan's interview style.5:04–7:32 · Guest disagreement 1/10 The Three-Stage Sales Funnel and Freemium Model Kim details her three-stage sales funnel strategy from freemium to mini-course to trial, with Nathan following along attentively.7:32–14:26 · Guest disagreement 2/10 Analyzing Funnel Conversion Rates and Tripwire Pages Nathan live-navigates Kim's website to scrutinize conversion claims, pushes back on confusing numbers, and calculates the exact conversion waterfall.14:28–16:53 · Guest disagreement 1/10 Customer Retention, Acquisition Costs, and Traffic Channels Nathan instantly converts Kim's 5.4-month average retention into a 20% monthly churn rate and explores her paid acquisition economics.16:53–19:39 · Guest disagreement 1/10 Email List Metrics and Membership Revenue Totals Nathan cross-examines email engagement metrics and verifies the math behind 1,200 active members yielding $56k monthly recurring revenue.19:40–24:04 · Guest disagreement 1/10 Sponsor Spotlight: Inbox Meeting Assistant by Cirrus Insights Sponsor placement followed by rapid-fire Famous Five questions covering business books, routine tools, and entrepreneurial advice.24:04–24:34 · Guest disagreement 0/10 Episode Recap and Key Business Takeaways Host outro recap summarizing Kim's core business metrics followed by an ad spot and contest reminder.0:28–2:42 · Nathan pushing back 0/10 Top Tribe Contest Winner and Subscription Giveaway Solo intro monologue where Nathan announces a contest winner, pitches an assistant tool, and introduces Kim Garst.2:42–5:04 · Nathan pushing back 2/10 Boom Social's Continuity Revenue and Inner Circle Nathan asks for revenue updates on the continuity program, and Kim reveals she pulled exact numbers knowing Nathan's interview style.5:04–7:32 · Nathan pushing back 2/10 The Three-Stage Sales Funnel and Freemium Model Kim details her three-stage sales funnel strategy from freemium to mini-course to trial, with Nathan following along attentively.7:32–14:26 · Nathan pushing back 6/10 Analyzing Funnel Conversion Rates and Tripwire Pages Nathan live-navigates Kim's website to scrutinize conversion claims, pushes back on confusing numbers, and calculates the exact conversion waterfall.14:28–16:53 · Nathan pushing back 3/10 Customer Retention, Acquisition Costs, and Traffic Channels Nathan instantly converts Kim's 5.4-month average retention into a 20% monthly churn rate and explores her paid acquisition economics.16:53–19:39 · Nathan pushing back 2/10 Email List Metrics and Membership Revenue Totals Nathan cross-examines email engagement metrics and verifies the math behind 1,200 active members yielding $56k monthly recurring revenue.19:40–24:04 · Nathan pushing back 1/10 Sponsor Spotlight: Inbox Meeting Assistant by Cirrus Insights Sponsor placement followed by rapid-fire Famous Five questions covering business books, routine tools, and entrepreneurial advice.24:04–24:34 · Nathan pushing back 0/10 Episode Recap and Key Business Takeaways Host outro recap summarizing Kim's core business metrics followed by an ad spot and contest reminder.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 97.5% · guest 2.5%0:00 · Nathan 97.5% · guest 2.5%3:00 · Nathan 17% · guest 83%3:00 · Nathan 17% · guest 83%6:00 · Nathan 15% · guest 85%6:00 · Nathan 15% · guest 85%9:00 · Nathan 36.8% · guest 63.2%9:00 · Nathan 36.8% · guest 63.2%12:00 · Nathan 38% · guest 62%12:00 · Nathan 38% · guest 62%15:00 · Nathan 16.2% · guest 83.8%15:00 · Nathan 16.2% · guest 83.8%18:00 · Nathan 70.7% · guest 29.3%18:00 · Nathan 70.7% · guest 29.3%21:00 · Nathan 45% · guest 55%21:00 · Nathan 45% · guest 55%24:00 · Nathan 92.5% · guest 7.5%24:00 · Nathan 92.5% · guest 7.5%
Sharpest disagreement ▶ 11:02 Kim corrects Nathan's URL navigation

Kim firmly clarifies that Nathan navigated to the wrong product URL on her site rather than the specific tripwire landing page under discussion.

 Hardest push from Nathan ▶ 10:53 Nathan halts discussion over missing upsell

Nathan refuses to take the conversion numbers at face value when the page he sees live lacks the intermediate $9 upsell step Kim described.

 Biggest teaching moment ▶ 10:02 Kim explains intermediate tripwire steps

Kim educates Nathan on the distinction between a direct front-end trial landing page and a sequenced multi-tier tripwire funnel.

 Nathan holds their own ▶ 13:30 Nathan synthesizes complete funnel waterfall

Nathan synthesizes Kim's fragmented conversion percentages into an end-to-end 100-visitor cohort resulting in 1.5 converted trial users.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Top Tribe Contest Winner and Subscription Giveaway 0000 Solo intro monologue where Nathan announces a contest winner, pitches an assistant tool, and introduces Kim Garst.
Boom Social's Continuity Revenue and Inner Circle 5212 Nathan asks for revenue updates on the continuity program, and Kim reveals she pulled exact numbers knowing Nathan's interview style.
The Three-Stage Sales Funnel and Freemium Model 5412 Kim details her three-stage sales funnel strategy from freemium to mini-course to trial, with Nathan following along attentively.
Analyzing Funnel Conversion Rates and Tripwire Pages 8526 Nathan live-navigates Kim's website to scrutinize conversion claims, pushes back on confusing numbers, and calculates the exact conversion waterfall.
Customer Retention, Acquisition Costs, and Traffic Channels 7313 Nathan instantly converts Kim's 5.4-month average retention into a 20% monthly churn rate and explores her paid acquisition economics.
Email List Metrics and Membership Revenue Totals 6212 Nathan cross-examines email engagement metrics and verifies the math behind 1,200 active members yielding $56k monthly recurring revenue.
Sponsor Spotlight: Inbox Meeting Assistant by Cirrus Insights 3111 Sponsor placement followed by rapid-fire Famous Five questions covering business books, routine tools, and entrepreneurial advice.
Episode Recap and Key Business Takeaways 0000 Host outro recap summarizing Kim's core business metrics followed by an ad spot and contest reminder.

Statements from this episode (10)

Disclosure
Garst: Boom Social Generates $56,494 Monthly in Continuity Revenue
“To answer your question directly in the timeframe that since the last time I was a guest to today, because these numbers are as of this morning, we're now generating a 56,494 dollars a month in our continuity program. That's about a 245% increase since the las…”
Kim Garst Oct 25, 2016 ▶ 3:25
Assertion Not checkable as stated
Garst: 11.2% of free offer opt-ins purchase the $9 upsell
“11.2% of the people who take the free offer take the nine dollar up sale, and then about 70% of those will take the dollar trial directly, and then about 30% will eventually take, or the other 30% will eventually take us up On the offer through a three-stage a…”
Kim Garst Oct 25, 2016 ▶ 7:58
Assertion Not checkable as stated
Garst: Boom Social opt-in landing pages convert between 46% and 64%
“Since we run three of them, we have we have three different landing pages, and they convert from between 46% to a crazy 64%. We have one that actually converts at a 64% conversion rate.”
Kim Garst Oct 25, 2016 ▶ 8:43
Disclosure
Garst: Boom Social members retain for 5.4 months on average
“On average our members stay with us about 5.4 months.”
Kim Garst Oct 25, 2016 ▶ 14:59
Disclosure
Garst: Boom Social averages a $263 LTV against a $67 CAC
“Basically an average customer value of about 263 dollars. It cost us about a customer acquisition cost is about 67. So our ROI is still, like, 392%.”
Kim Garst Oct 25, 2016 ▶ 15:11
Disclosure
Kim Garst: Boom Social gets 82% of traffic from Facebook ads
“About, for us, for example, about 18% of our traffic comes free, totally free, using social media. Yup. And then the other 82% is Facebook ads.”
Kim Garst Oct 25, 2016 ▶ 16:18
Disclosure
Kim Garst: Boom Social email list reached 187,000 subscribers via Facebook ads
“And our list list is now of a 187,000. And I attribute much of that to Facebook ads.”
Kim Garst Oct 25, 2016 ▶ 16:45
Assertion Not checkable as stated
Kim Garst: Boom Social email open rates are currently 15% to 17%
“My open rates used to be, you know, 18 to 20%, sometimes a little more than that, but right now they're about 15 to 17%.”
Kim Garst Oct 25, 2016 ▶ 17:08
Assertion Not checkable as stated
Kim Garst: Boom Social generated slightly over $1 million in 2015 revenue
“Yes, we were just a little over. I don't have the exact numbers, because I knew we were going to be talking a continuity program, so that's really all I ask for hard numbers on this morning.”
Kim Garst Oct 25, 2016 ▶ 18:26
Prediction Not checkable as stated
Garst predicts Boom Social will pass $2 million in 2016 revenue
“But I would say we'll be over two million this year, simply because of, you know, this is one piece of our income, one income stream for us, but we do you know, we have a Facebook ads course And rolling out a Facebook live course and a few other things, as wel…”
Kim Garst Oct 25, 2016 ▶ 18:36
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 2,600 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.

Try the podcast clipper Learn more