I never thought I would do the income report, but a lot of people are wondering what our numbers are so far.
So, I decided I would peel back the curtain, and let you see what we’re doing, what kind of results we’re having with it.
The long-term plan is to develop the ultimate online course-building masterclass. I hope to develop this course to be more like a college-level intensive, walking everyone through step-by-step guides so that, when they finish, they know everything they need to know, at the level they need to know it, to be ultra-successful selling online courses.
That is going to take months to create, and honestly, I haven’t even started on it yet.
My primary goal is to build our email list up to more than 10,000 engaged contacts. The idea is that, with 10,000 contacts, I would only have to convert 1% of them to make over $100k with the first launch of the course.
I think 10% is very doable, and could potentially be multiples of that, depending on how well I did the pre-launch marketing strategy.
So, it was the old cart vs. horse problem: did I focus on building the course, investing months on the front-end. Or, did I instead focus on driving awareness, building an audience, and filling up that email list.
Ultimately, I decided to do both.
September Income Report from Our Online Courses
There’s many different ways to launch a course. I’ve seen some “gurus” recently talking about how they sell all their courses before they create them.
That’s an awesome strategy… if you have either a massive audience or a massive advertising budget. They say those things don’t matter, but take a peek at their ad campaigns and you will see, they are spending like crazy trying to sell that course that tells you spending isn’t necessary.
Go figure. 🙂
But, rather than spending months creating a product and having no one to sell it to, I decided to take the old value-ladder approach. This is the approach I teach in the 30-Days to Launch course, by the way.
Basically, you start on the bottom left with a free offer, and stairstep your products in price/commitment, up and to the right. My free offer is the 30-Days to Launch Roadmap PDF. This is a guide that shows the daily tasks needed to plan, build, and launch an online course in 30 days or less.
Then, I piled on some extras to make a product.
First, I decided to include my templates and workbooks. And, as of writing this post, I am selling them as a tripwire offer for $5. Then, if someone buys those, I have an OTO (one-time-offer) upsell, which is the companion course for only $10 more.
If someone buys everything, I make right about $15. To this point, only two or three people have bought the templates and declined the upsell.
How It Works
- Someone comes to the free offer landing page & enters their name and email to download the free PDF.
- After they click the button, it takes them to the tripwire offer. This page says something like “before I give you the PDF, I wanted to make a quick offer for you.” If they click buy, it takes them to a checkout page. If they click “no” it takes them to the free PDF directly.
- If someone buys on the checkout page, I take them to another page that says “you downloaded the template, now you need the companion training.”
- If someone says they want it, they click a button and it adds $10 to their order. If they click no, they are taken to the page that gives them the templates and the free PDF.
How I’m Promoting the Free Offer
Mainly, because I’ve been so busy, I’ve been paying for Google and Microsoft search ads. Display ads just don’t work for me.
My bidding is conservative, and I’m only bidding on phrase-match keywords. Things like “how to build an online course,” etc..
I’m also investing what time I can to engaging in Reddit and Facebook communities. As the opportunities naturally come, I’m promoting my stuff in a very tactful way. I over-extended a couple of times and got hammered as a spammer.
It’s okay if you experience that. There are some blatant scammers and spammers out there. Their presence makes it easy for people to lambast you when you offer something helpful that is in any way construed as self-promotion. I ignore them most of the time. The bitter, negative ones are usually those who are struggling and lashing out to make themselves feel better… as in, “at least I’m not spamming like that guy.” 🙂
But, for the most part, I’m promoting with paid ads… only very slowly and low-balling the bids.
What Are the Results? Show Us the Numbers!
Amount Spent on Advertising:
- $199 Spent on Google Ads
- $17 Spent on Microsoft Ads
Amount Earned in Sales:
Bottom Line Earnings: +$38.31
Contacts Added to the List: 54
So far, I’ve made a little bit more than I’ve spent on advertising, and I’ve crossed 50 contacts on my email list. That means my Cost Per Lead (CPL) is currently at +$0.70.
Yes, so far I’m getting paid seventy cents for every contact I add to my list while others pay up to $10 per lead.
The amount of traffic is fairly low, but my blog and YouTube videos are starting to get a little trickle of traffic as YouTube, Google, and Bing/Yahoo are starting to notice my content and rank it.
It’s not blowing the doors off of anything yet. But, we’re moving in the right direction.
What I’ve got coming next will be interesting to watch. Stay tuned!