Your Mind First ..
Setting up your Mind for Success.
Let’s Start .. Slowly ..
Getting started with the Basics.
Your First Affiliate Salesfunnel
The Funnel that gets you Money.
Your Affiliate Salesmessage
Hook, Story, Offer!
From Theory to Practice
Autoresponders & List Building
Plug & Play!
Let's get things rolling!
Let’s Feed your Funnel with Traffic!
If you want sales and want them NOW!
Day 21 – Testing your Funnel!
So today we are going to cover how to test your funnel and how to know when your funnel does or does not work!
So first and foremost I am going to give you some benchmarks that you can use to measure your funnel pages with.
- Free Leadmagnet 20%>
At least 20% of the people that land on your Squeeze page should opt in. If it’s less than that, then this is where you begin.
So when you have 100 people visit your squeeze page, at least 20 of them should leave their email address for your leadmagnet.
It doesn’t even make sense to look at the rest of your funnel when your opt in rate for your lead magnet is lower than 20% so make sure to fix that first!
- Salespage Conversions 1% – 5%
At least 1% – 5% of the people that opt in for your leadmagnet and gets forwarded to your salespage should convert into a sale. At first this might seem low to you but those are the realistic conversion numbers for some of the most successful businesses on the internet nowadays. J
But let’s make the calculation real quick before we continue.
So when you 1% of the 20 people that opted in for your leadmagnet signs up for your purchase you’ll have like 0.2 of a purchase.
So realistically speaking you can’t possibly measure if your funnel works with just 100 visits, which is what A LOT of companies that are trying to split test their funnels fail at understanding.
So as you can see you need enough traffic to even make the decision if your funnel is working or not.
Now let’s say you have 500 visits on your Squeeze page and a 100 people (20%) of them signs up.
When you have a 100 people opt int for your lead magnet, and 1% purchases that means you’ll have 1 sale for your product.
- Order Bump 20%/40%
Now the order bump is one of the most easiest money makers there are. People have already committed to making a purchase, the hardest part is done. That’s why at least 20/40% of the people who purchase your product should choose to add the order bump as well.
- OTO Page 3%/10%
Now out of those people who purchased your first offer at least 3/10% should go for your One time Offer.
Let’s break it down into an example.
- If you get 5000 clicks over to your squeeze page and have a 20% opt in rate – Investment point
- At least 1000 people will opt int and see your offer (Investment Point)
- Of those 1000 people if you have a 1/5 percent buy rate that will mean you’ll have at least 10 sales (Breakeven point)
- Of those 10 sales at least 20% will go for your order bump and at least 3% will go for your OTO. (Profit Margins)
- Everything else you EVER sell to that particular person (Profit Margins)
Now let’s reverse engineer this and find out what this tells us about our marketing budget and what we should want to pay per customer.
Now let’s say you’ll have a course that doesn’t cost you any backend or service cost whatsoever priced at $297.
To break even at the front end you know you’ll want at least 1 customer for every $297 spend.
If you’ve split tested your funnel up to the point that you know that
You have to spend $297 for 1 customer you will BREAK even in the front end.
Meaning everything earned after that are pure profits – I’d like to call it The Million Dollar Funnel Split test.
Note: Most people have a traffic problem, not a funnel problem. You simply can’t measure your pages with too little data.
I mean try doing the above calculation with 1000 clicks instead of 5000 clicks. You’ll end up with about 1/10th of a sale for your OTO page.
Which is why you possibly can’t draw any conclusions when you’ve only had 1000 people visiting your page.
Now go complete your Assignments for today