If you’re tired of being the only person in your business who is thinking about marketing & how to make money, you might need a rainmaker. As in, someone in your business who makes it rain money FOR you. Meet my industry-revolutionizing friend Veronica Romney, a Dream Team Architect who helps online entrepreneurs build their dream teams and train their rainmaking marketing leaders. With more than 15 years in the online marketing world, she’s a former Speaker and Trainer for Tony Robbins and Dean Graziosi and the former Chief of Staff of mega-brand BossBabe.
In today’s case study, we’ll dissect how Veronica’s unique “open house strategy” as a top of funnel opt-in is consistently generating a 25% conversion from viewer to applicant for her program Rainmaker Residency, a multiple 5 figure investment for her clients. Veronica’s open house is not exactly a workshop, masterclass, or webinar, and it’s beating the average industry conversion rates for high ticket program applications by a longshot. Plus, we’ll get Veronica’s hot takes on making smart marketing hires for your business. Let’s get into it.
Thank you to our sponsor:
Connect with Veronica:
View the transcript for this episode at: https://docs.google.com/document/d/1Fi8HIoe8dXzigSp1kGNkXrmA09rdctveO3-yeM_JGxQ/edit?usp=sharing
If you enjoyed today's episode, please:
If you’re tired of being the only person in your business who is thinking about marketing & how to make money, you might need a rainmaker. As in, someone in your business who makes it rain money FOR you. Meet my industry-revolutionizing friend Veronica Romney, a Dream Team Architect who helps online entrepreneurs build their dream teams and train their rainmaking marketing leaders. With more than 15 years in the online marketing world, she’s a former Speaker and Trainer for Tony Robbins and Dean Graziosi and the former Chief of Staff of mega-brand BossBabe.
In today’s case study, we’ll dissect how Veronica’s unique “open house strategy” as a top of funnel opt-in is consistently generating a 25% conversion from viewer to applicant for her program Rainmaker Residency, a multiple 5 figure investment for her clients. Veronica’s open house is not exactly a workshop, masterclass, or webinar, and it’s beating the average industry conversion rates for high ticket program applications by a longshot. Plus, we’ll get Veronica’s hot takes on making smart marketing hires for your business. Let’s get into it.
Thank you to our sponsor:
Connect with Veronica:
View the transcript for this episode at: https://docs.google.com/document/d/1Fi8HIoe8dXzigSp1kGNkXrmA09rdctveO3-yeM_JGxQ/edit?usp=sharing
If you enjoyed today's episode, please:
ellenyin
Here we go friends I have a real treat for you today. You get to meet my friend Veronica Romney and no not related to the romneys but there's a funny story. She told me about getting ah treated very differently like a celebrity at the airport when when flying into Utah so. Anyways, Veronica hello welcome to our show.
Veronica Romney
Oh I'm so excited to be here. Yes I when you have the romney last name anytime you go to the Salt Lake airport check out a car go into a Marriott hotel I get a lot of direct eye contact and firm handshakes and welcome Mrs Roppney yeah it's it's a thing.
ellenyin
It's hilarious I love it and it's funny too because you're Cuban right? You're married this is your married last name. So.
Veronica Romney
Yeah, yeah, no I went from 1 my maiden names famous to iglesias and so everybody and I grew up in South Florida everybody assumed that I was related to the singers and I am not and then I got married to a romney and everybody assumes that I must be related. And not close enough to have any kind of perks or benefits whatsoever. So here. We are.
ellenyin
I Just think it's so funny you That's your thing That's your shtick you have famous last names but you you have a right to be recognized and famous in your in your own um honor because you have created something in our online business industry that I feel is so unique.
ellenyin
Something I've never seen before and it in it really intrigued me from the moment I met you? So just a little backstory I met Veronica for the first time in person. Um, just last month was it was it December yes December wow um, and she so graciously invited a couple of us to her beach house in North Carolina in 1 of the most beautiful places that I'm now obsessed with topsill island shoutout and we just had so much fun over a couple of days masterminding and I got to learn more about what Veronica does. And before we get into setting the context for this case study and and you know sharing what the rainmaker residency is what a rainmaker even is I want to start with the question that I ask all of our guests which is what is your cubicle. The Ceo story. What was that catalyst that made you finally go. All right I'm making that leap from employee to entrepreneur.
Veronica Romney
Yeah, and I wish it was more of a jump if it's not in my story. It's actually both I was a cubicle and a Ceo like I it's both I was a side hustler for a really long time because I think obviously as a marketer you're gonna flex your marketing skill if you're making your clients. Lots of money you're like well I can do a popup ecommerce website and sell some candy and go to Hawaii right? So I I always had like a little bit of a side hustle but my biggest jump and it was the very much the last big corporate position that I held was I was the director of marketing suite products at ah at a software company called Entrada. And I was there for 4 years but like a year into that 4 years we started a marketing agency in South Florida so I had a very long l-shaped desk and I had one computer system and like set up on one side of the ldesk and then I had the agency computer system and and set up on the other side and the whole day. I'd be back and forth between both computers running both sides of the business being a cubicle employee for a phenomenal company but also being the Ceo of a blossoming marketing agency and I didn't say goodbye to my corporate position until we were had. Already grossed about $700,000 in the agency and I couldn't do it anymore. I was being split in half and so I actually was both for a really long time.
ellenyin
That is really impressive and I think it's rare to I mean we've heard stories of course of people who have worked a side hustle perhaps while working a full time job. But it's very rare to build a business of the size that you did while also simultaneously working in a full time position. Was that something that you felt you had to kind of keep in the dark from from your employer was that something that they were supportive of and like wanted to encourage and nurture in you.
Veronica Romney
Yeah I mean they definitely knew who I was when they hired me I'm very I'm the same person like if you and I and your listeners if we met on the streets. It'd be the same version that you're getting on this podcast. It's just I don't have a poker face I'm as. My husband said the first time he met me, he told his friend that she's super in his words, she's super genuine. So I I can genuinely say that my employer knew what they were getting and they knew that I had like that kind of entrepreneurial spirit I remember telling. Um, the chief operating officer who is my direct manager that I had an aspiration to write a book one day in 1 of our one on ones he's like oh really I'm like yes, really so like they knew what was inside of my soul. Um I don't. Know if they fully understood the success that the agency was having or they thought it was a cute pet project truth be told I'll have to ask them one day. Um, but they I think for them and they operate with with this culture like if you get your job done and you do it excellently. We're not really going to ask a ton of questions and so like. I did an excellent job and it really wasn't an issue.
ellenyin
I Love that that level of integrity of look This is what I committed to in my role and that's not going to suffer just because I have these other aspirations I Think that's something we can kind of all take a page out of that book especially in what you do now designing teams for ah entrepreneurs right? And and that's such a ah delicate I think often relationship between leaders and and their employees and some of the best employees have entrepreneurial spirits and so you know it's that that fine line to walk so that kind of brings us into today's case study which is all about your unique open house strategy that has a 25% conversion from viewer or attendee to application for a very high ticket program that you run called rainmaker residency before we get into that case study for those who are meeting you for the first time b can you share what what is a rainmaker. First of all, how is it different than let's say a chief marketing officer or a marketing director and then what is the purpose of the rainmaker residency and what you see your role as um in the dream team architect.
Veronica Romney
Sure. Okay, yes, so Rainmaker Residency um we make rain makers. So a rainmaker is a marketing leader a very. Straight definition is this person is responsible for all of the activity that converts a prospect into a customer so you know basically taking $0 and turning into $1 for the first time and that includes building an audience nurturing courting flirting right? and then converting said audience and that's all of that activity and it's. It will look different for different business model types for you as a media company for an online course creator for an influencer for you know service provider. It's a little bit different as far as like their day-to-day or the strategies they're executing but ultimately the job is the same. My job is to lead a team of marketing doers and execution. Um, and that includes vendors contractors internal interns. It doesn't matter. But you're leading a team including yourself to excellence to basically making it rain for an organization and the rainmaker position is one of the most sought out. In the online space by online ceos and one of the worst to hire or find it is very easy to find operations leaders director of operations because there's a ton of certifications that make them and like they're a di debt like there. There's so many and they're fantastic, but operations is not marketing. The Creativity The innovation that is required on marketing front at the pace of an online entrepreneur is very different of an arena than it is operations and customers in fulfillment and quite frankly, if there is a candidate that you're excited about and they're not. Scared to be in front of the camera themselves. There's always the risk that they'll leave you to do their own thing which is why they're so difficult to find and so I created a leadership development program called the rainmaker residency that makes elite rainmakers for online ceos so that they stick. And that you trust them to execute your marketing ideas better than you can because you shouldn't be the singer and the backup dancers at the same time.
ellenyin
Thank you for that that description you know I'm just curious 1 question that always comes to mind I think for people when they're when they're looking at hiring or building out their marketing team structure is the chicken or the egg dilemma who do you hire first? Do you hire the leader the rainmaker who then finds the doers or do you do the opposite and you find. Doers who implement the tasks and then as your organization grows to a certain level you bring in the rainmaker to lead them and remove yourself from that role.
Veronica Romney
Phenomenal question because you are phenomenal host I'll tell you that the answer is actually found in your p and l it's found in your books so this is more of a cash answer than it is anything else because if you really if you think about it right? A funded Ceo is going to bring any elite leaders first and then rely on the leaders to build the team underneath them but a startup Ceo an entrepreneur who literally eats what they hunt and bootstraps their company. Will go backwards. They'll start at the very bottom they'll have contractors interns vendors. They'll get as scrappy as they can with the doers that they have at at the affordability rates that they can and then once there's too many chicks to hold space for and you still need to be outside of the business home doing your thing. That's when they hold that's when there's enough space. And cash for a you know that mid-tier leader like a rainmaker to come in and hold the team for you so you can be out of the house even more.
ellenyin
I I love that explanation and I I don't think that's the answer I was expecting but now that you say it it totally makes sense because one of the things I know you and I talked about in private when we were in North Carolina together is that? Yes, yeah.
Veronica Romney
Right on the kitchen floor. Yeah, so.
ellenyin
Totally sweet Veronica um indulged me I'm this I just like I feel like papa squat. It's like the asian squat like wherever but there was a stool so I sat on it and she so lovingly and kindly sat in the kitchen floor with me. But anyways it it was this whole discussion on how as a Ceo. Um, you know you have to be prepared to not only make an investment in a program like rainmaker residency to train or you know develop a leader but you also have to have the appropriate salary for um or available to be able to hire and and maintain that person on your team. So that makes complete sense what you're saying here and I think what really drew me to this whole concept of a rainmaker in the first place ah was actually like a hook that you put on one of your I don't know if it was a sales page an opt page but it was that concept of are you tired of being the only person in your company who is thinking about how to make money and ah, that spoke to me on like such such a deep level. Um I really feel like a lot of ceos in the position that you described that are bootstrapped that are startups that like like you say eat what they hunt. Um, that is very much a focal I think struggle and in a ah ceiling that many of us hit in in trying to scale really Beyond ourselves right.
Veronica Romney
Yeah, and it's heavy. It's so heavy. Um to hold space. Not only for the vision that is your company and that tap that you had on the shoulder to do the hard thing to get yourself out there to like start something from nothing. That challenge you on a daily basis. You are constantly reminded of what you don't know more than what you do know they give you the confidence to even try in the first place and then on top of that you always have to pay the bills. There's always the bills. There's always the operational cost.
ellenyin
Yeah.
Veronica Romney
And who else has to think about making money other than the Ceo unless you partner with somebody internally like a rainmaker who you can actually assign that responsibly to them so that you can then go and do what only visionaries can do best and they just harvest all of that activity and convert all of activity that you're doing like right now.
ellenyin
That's amazing I think that's a dream for so many and I hope that this bit of background sets the stage for the case study that we're talking about today which is how Veronica applied a very unique marketing strategy to bring in potential. Clients or students for her program rainmaker residency and it's this open house strategy which I don't want to compare necessarily this directly to something like a webinar because it's apples to oranges. But I think it kind of helps frame the idea because if you think about it. A lot of people. In the industry who have high ticket programs. They funnel people into their high ticket programs by perhaps doing a training um a free webinar where at the end the call to action is apply but the thing about webinars is the industry average for webinars are the the numbers are actually quite. Ah. Quite low like 1 to 3% I think as an average conversion rate for a webinar that doesn't mean it can't be profitable like we obviously had an amazing ride with the webinar funnel that we had for several years however what really. Brought me into your case study was your open house has a 25% conversion rate from attendee to applicant and so go ahead and share with the listeners. What what is this open house strategy. What was the intention behind creating it and walk us through like what that Looks like for an attendee to come to your open house.
Veronica Romney
Um, yeah, it's ah it's ah it's a really fair question and I'm a huge fan of alternatives. Because not exactly how you said it's not that webinars are ineffective and they don't work. It's like when people said the email was dead and like email has never been dead so like Webinars still work emails still work these really sound and true tried Andt true methodologies in the marketing world. Absolutely still work I just knew for me.
ellenyin
Never will be.
Veronica Romney
That I literally attract people who host their own webinars. So think about it though everybody that's in my program is at a position where they're scaling right? They're in the very highest multiple 6 figures most are in the 7 figures going to 8 figures I even have 1 um, member who's at 45000000 a year already. So like these are different types of players. In fact, they're the kind of players that are hosting their own webinars their own challenges their own stuff. So why would they attend mine if they know exactly how the protocol works they know a minute 45 I'm going to pitch like like they'll see it. Ah, it doesn't make any sense. Um, so I wanted to do something but I still you know as a good marketer right? I've been I've been a marketer for fifteen fifteen plus years I knew that I still wanted to have an event I wanted some kind of time based event where they got to get closer to me in proximity and then I had the opportunity to explain. Something that is radically different than what they're accustomed to right because the ceos that I work with I'm sure they're used to certifications. They're used to masterminds they're used to courses. This is none of those things. It's like it's like it's like my rainmaker residency program I compare it to a mastermind. Made love to an Mba program and then popped out 2 retreats as children like that. It's a little bit of all the goodness that is that they're used to into 1 thing but it's a leadership development program I don't just teach you marketing strategies to make you millions I to help the people That are responsible to execute the strategies that make you millions like the focus is different. So I knew that I had to spend a lot of time addressing the logical buyer more than the emotional buyer. Let's put it that way. My Ceo is not that they're not emotionally based but they're going to have more questions and I'm involving a. Team member besides themselves. So there's going to be a lot of questions on their behalf. There's going to be a lot of questions about like okay like fears potentially like well if if if I pour twelve months into this person. How do I make sure they don't leave me and they take that investment but also 2 for the rainmaker. Because majority of the rainmakers are people that came up in these organizations as excellent marketing doers. It was like your best designer your best copywriter your best podcast manager that has aspirations beyond the doing and so I also needed to educate them on what rainmaking is the role of the rainmaker. And how exciting that could be so I did it instead of like and I flirted with a couple different options I thought about a town hall I thought about a web I think definitely I thought a master class at all the things. But what felt really right to me was literally a walkthrough like the parade of homes type of walkthrough like here's your kitchen. This is the mastermind side here's the living room. This is the and MBA side of the program here's the bedroom. This is the retreat like and I walked them through in a very no fluff super concise like this is the ins and outs this is the type of members that we have these are the revenue sizes that they have like All of the questions they could possibly come up and the first time I did the open house was in January Twenty Twenty one and 1 of the ceos cullin emailed me a 7 minute loom complimenting my open house in detail step by step all the things that he loved about it. True story.
ellenyin
Wow, that's very impressive and you're right? it's it's I think it's an even higher compliment because what you said about how knowing your audience is key and that's something I want to pull out for all of our listeners. Even if you don't serve a similar market to Veronica. But she did so well is understanding who her people are and like she mentioned these are the people who are running the big challenges. The webinars already have these very successful businesses so to replicate a formula that they already use for their own audience would feel. Almost in a way and like your husband said you are nothing if not genuine. It's almost disingenuine because it's just something that is so expected and I think the whole reason people are attracted to the work that you do is because everything you do is unexpected and so um, I really love that you honed in on understand who. Understanding who your audience is first and then custom creating a marketing strategy based on that whereas I think most people when they approach their marketing. They try to find a container that has worked well for other people like they'll look around themselves and say. Oh that that person got to 7 figures using a webinar funnel. Oh this person is really active on Tiktok and they did this and they use the container first and try to manipulate it to their audience versus the other way around.
Veronica Romney
I Yeah know one hundred percent I mean I've worked for some big names in the industry and I was the one that was making the golden calf that the people worship like I was the one that made the webinar decks you know or I was the one that did that architect the funnel for this brand or this organization that I was a part of so absolutely. There's a lot of um imitation. It's a form of flattery I Just didn't want to disrespect my ceos I know they don't have a lot of time I know it's a new concept. What here's the thing here's the thing that I learned though that I didn't expect I knew that the open house had to be different and it had to be like to the point. What I didn't expect is how much I thought it was an asset for the ceo but what I didn't realize was that the Ceo took it as an asset for their team member that they wanted them to be the raymakerr so like I would I would deliver it to the prospective member of the rainmaker residency but they would take the open house link and then they would give it to their you know their dream rainmaker within the organization. So that person could watch it as opposed to them having to articulate what a rainmaker is because it's still new to them and then what I also didn't realize was that perspective rainmakers from the outside actually started to register. So even though it was a 25% registration to application ratio. It was almost like another 25% of the people that registered were prospective rainmakers who wanted me to find them ceos that they could work for so like and we don't we're not a recruiting company. No thank you However, the only exception is that we do what I say matchmaking we do match make. Um, ceos that don't have rainmakers that want to be in the program and prospective rainmakers that are not happy with their current work homes or environment and they would like to be paired with a ceo that believes in them as much as they believe in the mission. And so that has been something really exciting for me to see these perspective rainmakers who we then got to match with the ceo and the calls that was really fun that was something that I didn't expect.
ellenyin
I think that is one of the ah the most valuable assets actually that you offer through your program through rainmaker residency because I think that is a hold up for a lot of ceos as well as founders, especially those who who have. Very scrappy lean teams. There may not be someone in the organization that immediately jumps to mind as oh this would be a person that can be developed into a rainmaker and so the daunting task of having to look outside your organization and find that on your own can be. Really overwhelming, especially if you're still new to the concept of what am I even looking for and so the fact that you kind of take that off your client's plate if they're part of your residency I think is a huge asset. So um I love that you brought that piece into it too. I want to get a little bit more into the nitty-gritty of what. What the open house looks like in terms of because so for our show you know, um, our our tagline for the show is always ah we we ask entrepreneurs the business questions you can't Google and Our goal for our listeners is they come to every single interview and leave this case study with something tangible that they could borrow and implement in their own business if it makes sense for them to do So So Let's talk about at this open House. You mentioned time was something you wanted to consider because these ceos are busy. So How long typically are your open houses and are they a paid event or are they a free opt in.
Veronica Romney
Um, Nope No no, no so you go to the rain maker residence as of the as of this recording you go to the yeah right? Um, you go to rainmakerrresidency.com.
ellenyin
Um, important to timestamp. Yeah.
Veronica Romney
And then when you click on the button like you know I would like to learn more. There's an optin and on the backside of that Optin is the open house recording. So you can see it right now right? and it is free. Um, so yes, let's let's talk about the I guess the Skeleton of the open house because it's not like a webinar. It's not like secret number one. Secret number 2 secret number three that really leads into the pitch and then I tell my story like it's not. It's not that I like like I said I build those I know those the open house is very much we start with a very acute problem that they are doing too many things and are stunting their own growth. They're now at a place like they've reached a level of success in spite of themselves right? because a lot of these ceos because of their savviness because of their own brilliant marketing mind that they already possess because of strategies that they've picked on the streets in a book and listening to your podcast or going into a mastermind. I have this idea I go into the shower and I get more ideas like it's I'm constantly being flooded with ideas and then it's incumbent upon me to go inside a project management system and deconstruct it and assign it out to all the doers and like and then manage that. To make sure that the launch is complete even though I'm supposed to be the personality behind the launch right? So these people have an acute problem where they can't be everything to everyone and we have to let go and we have the money to do so so we're gonna bring in a leader so that they can let go right. So we're going to start with the really acute problem and then we're also going to go directly into like what a rainmaker is exactly what you asked me on this podcast because this is something that has never been said before and the reason that I even use the word rainmaker as opposed to Cmo or director of marketing or head of marketing or Vp Marketing is quite frankly. In our online industry. There's a lot of title inflation that is unwarranted like unless you're a ten million hundred million dollar business there's why are we having chiefs like what are you? The chief of usually a chief is over directors or vps like it's way more of An accordion of an infrastructure but we throw titles like crazy and we're actually really small business owners and then we screw ourselves in the feet you know and the foot so we we don't want to inflate these people's titles where they go to glass door and they're thinking their salary should be like $200,000 we're like wait a minute but our business size is $2,000,000 Ah, $200,000 salary doesn't match a business. It's two million a year so the fact that I the reason I say rainmaker in the first place is because this position in the online industry is unlike anything else and there is really no corporate equivalent but we do make it rain right.
So had to explain that and then again we start. Okay so you have an acute problem I'm presenting this answer which you would. You're not even on the open house if you didn't see that already as an equation on my sales page or application page. But now let's go through the mechanics of how I actually make said rainmaker to give you the confidence behind that so that's what I'm saying and then I can deconstruct the Mba part. The mastermind part the retreats part and then there's always the questions about how much time does this take when will I see the rainmaker roi all of those type of things I get in my Dms on Instagram all the time and I just go through them back to back to back. The third time I did the open house. I remember? Um so Kate Northrop is in my program and her husband Mike Watts she sent him to attend the open house on her behalf and I remember we got we've I finished the open house which takes like 45 minutes and then it's just like a free for all of just questions might just stay on until there's no more questions and I remember Mike in the q and a he said. Holy crap. This is like super dialed in. It's like thank you because words of affirmation to my love language. But like that's what I mean I literally just go through the ins and outs of the program answering all of their questions not wasting any time.
ellenyin
I love that by the way um shout out Kate Northrop was just on her podcast recently and and a bunch of you dmed us saying how much you loved her approach to you know thinking sinking your menstrual cycle with your productivity. So I love that Kate is also in your program Veronica I okay so just as a recap to. Ah, to kind of regurgitate what you just said and make sure I understood that correctly. So basically people come to this open house right now. It's evergreen and people can access it anytime but it sounds like you've done it live a few times you know and you start off by really. Honing in on what the actual problem is the pain that they feel around being the only person in their organization that is doing all of these ah you know long term kind of like marketing um strategies to actually make money after you describe the problem and then you are defining what a rainmaker is what they do. And then you take them through essentially this is what it's going to look like if you come through a program in the different elements of your program. You're really outlining those details and then you jump into q and a both things that you've curated from past questions that people have asked you privately in Dms as well as the live questions from attendees like. Um, the question from you know Mike that you just shared was that an accurate recap.
Veronica Romney
I Yeah it is and I'm actually I'm like on my second monitor like I'm pulling out my slides because I want to make sure I deliver to your listeners and that there's just no ambiguity. Um, the other thing that I definitely talk about which is I don't know a lot of providers that do this I Actually um, summarize. The profile of my members. So like I'm looking at this right now I literally have a slide slide 20 that talks about the range of reoccurring revenue So like what is the typical range of our members and the businesses. Um I talk about the tenure that the raymaker and the visionary had before they entered the program like are these like 15 year team members that you want to level up or is this somebody that you just started with I talk about the size of the marketing teams is ah a 2 man band a 1 one-man show or a cocktail inside outside I talk about business model types that are in the program I think for me, the reason that I'm just so radically transparent is because. It's a really intimate program. This is not ah ah, a leadership development program of a hundred members. Let me be very clear. These are duos. So that's already 2 people per seat like write that price that monthly price. It's 2 and we still to this day have less than 40 members. Okay, well I should say. 40 duos is what I'm like right? So it's a really intimate setting. So the reason that I'm super transparent is I don't and I don't want anybody to show up that wouldn't be comfortable in this family as it stands today. So as much as I'm trying to show them who is in the program I'm also trying to be very clear of who should not be in the program as well. Because everybody that comes in is just like another beautiful member at the table and I wanted to always feel like that because it's super intimate.
ellenyin
Okay, I'm obsessed with this idea of including like in essence a dream client profile or dream Student. You know, whatever you want to call it um profile because so much of our work as founders as marketers is. Is building these Ica's ideal client avatars right? But it's always in Private. It's always something that's done kind of like behind closed doors through our market research and we have this understanding of this person that we're trying to attract and then we utilize that persona in our marketing. But you're right I Don't think there's a lot of. Public outlining of hey this is exactly who has had the best success in our program and this is who you you need to be and who I want to attract and if you're not this person don't apply and I I think that's brilliant I think more people should include that even in a setting. That's maybe not An open house strategy like you just outlined for us. Maybe even in your webinar. It's kind of like that this is for you if dot dot dot slide right? but just like even more in depth with actual data from your existing students your existing clients that is a huge takeaway for me that I hope was a light bulb moment for.
Ah, some of you listeners as well and another thing that I wanted to just a point of clarification on um when you're taking people through to go back to your analogy. The different rooms in the house and saying okay this is the mastermind side. This is the Mba side. This is the retreat side. How is that similar or different from the syllabus that you offer as a free opt in because that also has a really high opt in rate on your website like thirty thirty two percent or something right.
Veronica Romney
Yeah, um, okay again who I am targeting who I am serving who I am speaking to is a frantically busy Ceo who is constantly ambitiously frustrated because their ambition is not being met. To the degree that they want to be at so okay I already know who I'm working with so I'm not wasting time. So yeah I was telling you that like I have I have stumbled upon some very successful optins and one of those is just 100 % disclosing my entire syllabus for the Mba side. So not. I don't there's 3 pieces so I go really deep into the Mba side which is my fortune 5 framework so this is this is how I take somebody who has an aspiration to be a rainmaker and I make them a rainmaker by taking them through the 5 fortunes the 5 key pillars where most of these relationships go wrong. So and also keep in mind the framework is a. Consumed and Mba program or curriculum by both parties. The Ceo watches it and listens to it on private podcasts and so does the rainmaker and then I do a biweekly fortune fix calls where they both show up and we talk about the material and we workshop what this looks like in their business organization. So. My opt in is the syllabus. This is everything that I teach in fortune one everything I teach in fortune 2 and all the way through fortune 5 and it is yes it is completely transparent. So yeah, the syllabus is a nod to when I used to have to create syllabus for university curriculums because that's absolutely how it works and then you get approved the syllabus gets approved by obviously the the education system and and the you know Dean but. That's where it comes from as I just disclose my syllabus.
ellenyin
So that I I love that you um, you know told us about your your past and in working at a university because that's exactly what I thought of the first time you said Syllabus I was like I feel like I'm being heralded back to my college day Syllabus Week I'm not going to lie was my absolute favorite week of every term in college because you just It's that first class where all you do is you get that sheet of paper like this is what we're covering this quarter and it was kind of like a throwaway week. So I really did ah love syllabus week in college and I so if I'm understanding correctly then you're saying you are outlining exactly what the Ceo and their rainmaker. The duo can expect to learn over their time with you.
In that um download in that opt-in but you're also I'm assuming then just repeating that information in the open house in a more like not so it's different. Okay, that's what I want to understand like what's the what's the distinction there.
Veronica Romney
Um, no I don't yeah so actually how I'm like looking at my slides I Um so I I don't go So if you download the syllabus. It's like bullets all the bullets of all the things the major bullets and and and topics that we're going to cover in each fortune. In my open house I talk about what they're going to walk away with which is more of a focus on the assignments from each fortune so that doesn't happen in the syllabus. The syllabus is like all of the education you're going to get.
And then inside of my open house I talk about because of fortune 1 being focused on the marketing leader. 1 of the things that we have to do first as a duo is you have to submit to me your work chart with this restructuring of the rainmaker in this position with their responsibilities. So I actually talk about more of the. You know assignments that forge and like actually implement the fortune to the business and then I give a story for each one. So if like for example, fortune 1 I gave the story of Ashlyn Carter and her rainmaker meg and how she lost her integrator who was like a frankenstein role of all the things and.
To Replace a frankenstein role with another frankenstein role is not a good idea so we had to like really map out her org chart to make sure that meg her rainmaker was put in a position to rainmake and not be a frankenstein like the person that she was replacing So I talk about stories of duos that gained a lot. From just each of those fortunes.
ellenyin
I have actually had the pleasure of working with both Ashlyn and Meg and I have to say my experience on the other side collaborating with them was very smooth and just an overall lovely experience and I'm sure much of that is in thanks to what they learned from you and rainmaker residency. So that's really cool. That's kind of a cool realization to have um, thank you by the way for distinguishing that for me I get it now. So essentially syllabus like you mentioned is like this is what you're going to learn and then the open house walk through the program is like and this is what is actually. What you're going to do This is the tangible outcome of each of the Fortune 5 as we go through the program. Ok Awesome I Want to get your take on this. Do you feel that this this strategy of offering a syllabus.
Veronica Romney
So perfectly stated? yes.
ellenyin
Would be equally beneficial to anyone in the online business space that has an education product like a course like a coaching program or do you feel that offering an In-depth Syllabus the way that you do is very unique to. Your type of very high ticket very high touch sort of almost you know mentorship.
Veronica Romney
Yeah I think that's a really fair question and I've I'm going to give you an answer from from being a consumer of courses myself like. This is how I even became a Tony Robbins and Dean Graziosi speaker was that they asked from the people who purchased the knowledge business blueprint to they were composing and constructing and ah a speaking team and so they asked those that had purchased their product a course to apply and out of like 600 applicants I made it to the top 5 right? That's how that story happened. But If Dean had given me a syllabus of Kb B I don't know if I would have purchased it because it is so much it is so much content I eighty plus videos. So I think going back to your question it depends. Because we don't want your opt-ins or your sales assets to actually make it a hindrance to purchasing from you because you overwhelm them like sometimes too much knowledge or too much sharing is too much like can you imagine on your first date. You're telling them everything about your life story. So like it's the same idea I think not that you're concealing information. But you're also trying to make sure that they have confidence in purchasing from you and you don't want to overwhelm your perspective customer with too much too soon and so I think it just depends I have 5 fortunes and all the fortunes are only 2 hours and that is very much on purpose I even had Heather um, who's the her podcast is you know, emotionally uncomfortable. She's fantastic. Um, she specifically messaged me within like the first couple weeks of being inside the rainmaker residency. She's like I love how to the point you are and how fast it is so again I know my people. So the reason I think I disclose it is because it's 5 fortunes not 80 modules. So I think it just depends on the on the depth of the education that you would be disclosing.
ellenyin
That makes complete sense hearing you say that because Decision fatigue is absolutely a killer of conversion and I can see how if someone is purchasing. Let's say a $500 one thousand even $2000 course They don't need to know every Nitty gritty Lesson they're going to have access to because like you said without the context of like where that leads them to what they care about in that moment is the transformation right? So they need to be sold on the transformation and that you have the right solution or system or methodology to lead them. There But they don't need to know the process because it's too much versus something like what you're doing is so um, novel in the fact that it's not. It's not as straightforward as like okay, if you know, buy this course you'll make your first ten thousand dollars month that is a very easy to understand.
Ah, transformation that has it's like a tale as old as time. But for what you're doing because ah the concept of a raymaker itself is so novel to many people I understand why they would need that syllabus to better to better capture the context and help make them make their decision.
Veronica Romney
Yeah, well yeah, and usually these ceos are coming to me and by the way nobody joins the program without actually even getting on a phone call with me because I need to validate and I need to tell them yes or no and and I actually do say no so it's not like just an so assumed like sometimes I actually don't think it's a good fit. So. Um, I'm very I am very careful about curating the right environment and also not setting anyone up for failure I don't want to set the Ceo for disappointment and I don't want to put a prospective rainmaker in a position where there's just like a glorified assistant on steroids like that's not what this is. You're a leader so like so I'm very careful. Um. But kind of going back to what you're saying I develop a leader. So what that means is that my ceos are usually coming to me and they already have happy ears. They're already having vision for their person that they love and adore and trust me like you're shaking your head because I know your people do a little bit so like. We already have dreams for the people that we love and we want them to grow with us. But there's always a little bit of a pause. You know, somebody's weaknesses and shortcomings before I do and so the reason I think I disclose what I'm teaching them to be a better leader is because it's going to also address the areas that you think that they're weak in. That you're excited that I could help them develop a muscle that you don't know how to teach them to do it yourself. So that's also part of it if you think about it from that perspective.
ellenyin
No, that makes complete sense I um, normally by the way you're kind of ah the first episode of this year and we're recording in 2023 early twenty twenty three as it is right now. Um, usually. Somewhere in the halfway Mark of our um interview and we're actually I know nearing that of our time together but normally during the middle of this conversation I would have done like a lightning round where I asked you 3 just for fun questions and recently I've been toying with this idea of replacing that with um, asking my guests like. Their hot take on something that might be a little polarizing and so if you're who if you're willing to play the game v I would love for you to be the first person to tackle this are you are you game.
Veronica Romney
Um, did we not establish that I'm a Cuban and feisty. Ah yeah I'm game let's go.
ellenyin
Okay I knew you were the right person to ask. Okay, so here's hot take ah number one that I would love your opinion on. Why Do you believe that fractional cmos don't work for organizations.
Veronica Romney
Ah, and let's go. Okay, so and this is coming from somebody who was a fractional Cmo a fractional chief of staff. Um, again, let's the Chief title kills me sometimes but fractional strategy I'm cool with. Fractional people managing not cool with at all. Not even close to cool with um I don't want a part-time parent in my business I need a full-time parent over people over young Professionals Doers who need to do be developed as Well. So like where I was put in.
This comes from experience where I was even put in in a position to fail myself or where I've seen fractional cmos be put in positions to fail is that the Ceo that is hiring their services expects a lot they expect way more than just the strategy they want you to then be responsible. For the strategy to be executed. So what does that mean people because who executes the strategy not the fractional cmo. No, it's the internal staff. Okay, so then you have this person who's being split across five six seven private clients and they're supposed to be. Overseeing the people who's executing the strategy that they delivered it is a recipe for disaster. So I'm totally cool with marketing strategist and having an outside voice that you can play ping-pong with so that it's fresh ideas and it's you know you're just not all by yourself in your own jar. But I'm not and we'll never be okay with somebody on the outside managing your team on the inside. It doesn't work. Oh.
ellenyin
Okay, that distinction I never thought about it that way I really love that analogy that you used about parenting. It's like split. It's like being split as a parent between like at 5 to 7 households with 5 to 7
Veronica Romney
Um, hundred percent
ellenyin
Sets of kids everywhere that you're trying to be present for um, love that.
Veronica Romney
Um, yeah, yeah, can you imagine Nick Cannon being your fractional cmo. Let's not yeah.
ellenyin
Okay, oh my gosh I'm dying because I literally thought that when you were talking about this But I like with blanking on his last name and I was like there's my way I can pull out my phone and Google this fast enough to say his name so I'm just not going to butcher it but dead because that is literally what I thought um.
Okay, hot take number 2 Um, do you consider yourself a coach in the sense that look so you know in the rainmaker residency. You're obviously developing both the Ceo and the rainmaker. It's very in-depth. But do you. Do you? Um, what is the word adopt the identity of coach or do you reject it and why.
Veronica Romney
That's a really good question and and there's a huge difference between even identifying as a consultant versus identifying as a coach I quite frankly in that in what I do I would probably be most comfortable identifying as a mentor. 2 rainmakers than anything else and it's not because I don't have a vibe of coaching and pushing somebody to like you running 5 but you know a 5 minute I know you're capable of 4 there's certainly those elements in my latinaness that will push both on the Ceo front and on the rainmaker front There's definitely the part of consulting where you know my members can book one on one calls with me and we can like jam out on their marketing strategy for the upcoming launch and I can consult and offer things but I think by the material the education I provide by exemplifying it myself. By bringing both sides to the table to see each other's perspectives which has never been done before it's more of a mentorship and helping them identify as their newer selves and so I and I think that's validated because it's It's such a gift to do something in the world where almost on a weekly basis I get a voice memo, a vox, texts of something from a member in the program that says I'm a different person because of this I stand tall I could cry.
I Stand taller because of this I didn't think that this was possible for me until I was in this like every single week I get something like that and it's like it just I don't know oh again I get emotional. But yeah, like it's ah it's a big deal and so yes I think I identify more as a mentor to somebody's growth. Period.
ellenyin
That's beautiful honestly and and I can see the care and the love that you pour into each and every person that you do mentor and into your friends right? like even in the short time we've known each other I Love the sincerity in which you approach every relationship. So I appreciate that about you.
Veronica Romney
Thank you, Thank you.
ellenyin
To wrap up our case study today v I felt like it would be worthwhile to ask you about the concept of relationship marketing because I think it's the driving force right? behind your business now of course your open house strategy this unique. Strategy that we've talked about today with this amazing 25% ah conversion has led to multiple 6 figures and revenue generated just from this one asset. But if we look if we zoom out and look at your business at large a lot of the traffic I'm assuming comes from Referrals and relationships so anything you want to add to to that concept here.
Veronica Romney
Um, yeah, yeah of all the so what? the the big four pillars of traffic. You know search marketing social marketing paid marketing relationship marketing number 1 and will ever be number one for me is relationship marketing. I think I said this to you guys at the beach house I don't I'm in my mid 30 s I have 2 little boys who are growing up and I'm just so and I've worked for some big big highly exposed brands and I see the cost of that and so I think just for me for Veronica. I met a stage in my life where I rather swim in the deep with less people than swim in the shallow with many and so for me relationship marketing is the only way I see moving forward because good people know good people.
And I want to be with good people and I want to curate a room where everybody's safe to be amongst other good people that care about them. Um, so yes, relationship marketing is everything even when I left boss babe as their chief of staff within the first two weeks I just everybody in my phone everybody in my email everybody my Dms i. It was like guerilla marketing. I'm like hey this is what I am now I'm a dream team architect. Let me know if you need my help in any way like it was. It was always about the relationship and with the rainmaker residency. It started that way I did a beta launch at first I didn't launch it as its full glorious self today. I launched it just to see would there really be ceos that would be willing to invest in a team member as much as they are willing to invest in themselves like big question you know and so I told my friends and I told my meaningful relationships and now having done this for over a year. Now our members are telling their member you know are their friends and their so now it's this beautiful like ripple effect of reciprocity. But everything that I do is relationship oriented. The podcast is relationship oriented even on Instagram it's relationship oriented. It's like the heart of my business is just people knowing good people.
ellenyin
I love that and I got to say in 2023 anytime someone has asked me like what marketing. Um, you know, just strategy. We're really excited about it's relationship marketing I think that there is this Return Almost It's almost full circle to some of the most traditional forms of marketing that have been kind of tucked away and outshined by you know all these flashy strategies and online tactics and social and all of those things work I.
Like we said at the beginning. It's not that any 1 thing does not work. It can work for any specific types of business. Any tactic could work. But I love the heart behind relationship marketing and the longevity of it. Um, and like you said the the reciprocity that it builds over time. It's one of the few things that compounds.
Veronica Romney
Oh for sure like think about og marketing before the internet there was yellow pages. You remember the yellow pages on top of the refrigerator like think about like o G O G Marketing
My parents have had and my parents are cuban immigrants that came here with nothing and start an air conditioning company in South Florida and they just retired and sold it last year and after 33 years and when they came with barely speaking english and started an air conditioning company because everybody needs good Ac in South Florida
ellenyin
I Love that.
Veronica Romney
How they got off the ground was people recommending them to their friends and when they see like it was a neighbor who recommended the other neighbor who recommended this person like it was relationship marketing and so I understand that through social media and these amplifiers and these microphones that you can be borderless that you can, but. You can change somebody's life wherever they sit in the world but we've lost we've lost humanity in the process where it's just followers and numbers and things like that and it's not the actual people that can advocate on your behalf because they know what you're doing and then they share it right? And so like. For me I will always be like a purist I think and have relationship marketing at my heart and then using search marketing using social media marketing using paid marketing to amplify the relationships is how I do it is how I construct my business.
ellenyin
Oh that's such a good word to end this on. Okay Veronica I am so appreciative of you and just everything that you've shared today. Um I think your wisdom your sincerity your brilliance and what you're creating for this industry is something I'm so excited about and that I'm so excited for more people. To become aware of what is the next best step for someone listening to this day today who might actually fall in that ah category of ah a leader who is ready to make that leap to bring a rainmaker into their organization. Where should they go? How should they connect with you.
Veronica Romney
Um, yeah, definitely I mean especially as ah as the segue from this topic go to raymakerrresidency.com you'll opt in and then as soon as you opt in as of this recording the next page is the open house. And if this is you, you're done being the singer the hairstylist. The makeup part is the background dancer the stage manager like if you're done doing all the things in your most high stakes moments like a launch and you need somebody to like. Hold the helm of that of that department of that team No matter what size it is and where you want to go then the invitation is for you to book a pre-application call with me and I'll tell you if I think you're ready for a rainmaker or not so don't worry about it I'll tell you.
ellenyin
Amazing. So no risk do it if you feel called to do it and Veronica. Thank you again for for just sharing time with me today.