Ep 55. The Offer Cure

Oct 7, 2019

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Full Transcript:

I want to talk to you about one of my favorite topics, which is launching a funnel and sort of taking all the data and information that you get in those first 24, 48 hours and making decisions about did it work.

I think a lot of people talk a lot about the building of a funnel and I do too, because I think you know, that is the big part. Whenever you are in the online business space and you know, “Okay, I need a sales funnel for my offer.” What have you, you get really stuck in the weeds about how to build it, what to build, all that stuff. And we often forget that once you actually launch the funnel, there’s a whole new set of jobs that you have to worry about that maybe you haven’t thought about before.

I liken it to having a baby or getting married, where you know, when you’re pregnant and you’re about to have a baby, all you can think about is the labor and delivery and getting to the end of your pregnancy. And then often times you forget, oh gosh, there’s a baby here. And now there’s a whole new host of things that you have to think and worry about.
So same thing with a funnel, you spend all this time building it, figuring it out, and then you launch it, and then how do you know if it’s doing a good job or not? And that’s a big thing.

So one of the things I want to say to those of you who are listening, is this is infinitely easier to discuss if you already have a traffic source. If you don’t have a traffic source, if you don’t have an audience, it takes much longer to test a funnel. So typically, I would say in general, I like to talk about this in terms of people and in as simple language as possible, you want 1000 people to see your funnel, and that means to somehow engage with the sales funnel.

So depending on the funnel that might be 1000 people see your sales page, or maybe 1000 people opt in to your free offer or your webinar or whatever it happens to be. And it may not sound like a lot, but to get 1000 people, unique humans, unique eyeballs to land in or on your funnel can take quite a bit of time, and/or money.

So you might be listening to this, and you might have an email list, you might have a following, and it’s reasonably easy to get 1000 people into your funnel. So I just launched a funnel with my partner Cathy, in Funnel Gorgeous we launched a brand new funnel today called the Offer Cure, it’s at offercure.com if you want to go take a look at it. And it took us about 36 to 48 hours to get 1000 unique eyeballs on the sales page. So now I can make some estimations about this funnel.

If you do not have an audience, you’re going to have to figure out how to get 1000 people onto that page to really know, is this a good offer, is this a good funnel? Some of you might say, “Okay, well all I have to do is turn on Facebook ads.” And that’s true, you can do Facebook ads, you can do Instagram ads, to get 1000 people to your actual offer to see if they’re willing to buy. That may cost you a significant amount of money. In fact, I would argue that it would probably take at least $1000 depending on the type of funnel. It may actually take 2 or 3 thousand dollars to get a thousand people. If you are just simply using traffic to get that first testing.

The other way to do it if you don’t have an audience is you can ask JV partners. And that takes a little bit of relationship building, if you haven’t been relationship building along the way, it’s hard to ask for a favor before you’ve really developed that relationship. So sometimes that’s available to you, sometimes it’s not. But either way, I don’t think you can really make a good estimate about how well your funnel is doing before you’ve had a thousand people.

Can you make an estimate with a hundred people? Yes. Is it accurate? It’s more accurate if you have a thousand. So that’s the benchmark that I go for. Although I have definitely made judgment calls on funnels with less than a thousand people.

So Offer Cure is our new offer, we got a thousand unique page views on our sales page about 48 hours in. And you know, just as an aside, a thousand people is no small amount of people. In fact, if you think about standing on stage in front of a room of a thousand people, you know that’s a lot of people. So that’s a huge accomplishment, once you can get a thousand unique eyeballs on your page.

So typically I’m looking for a benchmark, and this is just based on lots and lots of practice and lots and lots of offers. I want to see one to five percent of people purchase. That is based on pretty cold traffic. So I’m assuming that the majority of people that are landing on the page do not know who I am. So one to five percent. So if you’re using ads, that’s the benchmark. I, you know, Cathy and I have an email list, so we’re using our email list. And our email list is definitely warm traffic. They are, they know us, they like us, they trust us, so I’m going to be looking for a higher percentage rate. I want a solid, knowing what I know about my followers and our audience, I want a solid 5% on this sales page, because I know it’s going to drop once I go out and decide to do ads. So at least, I’m starting at 5%.

So we had 1038 views, and we had 310 sales. I’ll do the math for you, it’s 29.87% buy rate, which is absurd. What it means, what that number means, is it’s so far above the 5% that I’m looking at, that it means that we did a very, very good job of communicating value. And how do you communicate value in a funnel? Well, obviously the actual offer itself matters. It needs to be something that solves a problem, that is irresistible, in fact, that’s what the Offer Cure is about, ironically enough. So that’s the first thing.

The second thing is that it needs an excellent sales message. It needs good copy that’s going to help communicate that value. And then the third thing is that it needs visuals, especially if you’re doing a funnel for info products, it needs visuals that are also going to communicate value.

I’m literally talking about what we built. Because we decided, okay we’re building this offer around how to create an offer. Let’s actually do what we say. Let’s actually use the templates and things that we created. So we worked to create an irresistible offer, we worked to create a great sales message, and then we worked to make sure that there were beautiful visuals on the page. That’s what Offer Cure is about. And the amazing part is, in drinking our own Kool-aide and doing what we actually teach, we found that we got a 29% buy rate on this funnel, with a thousand people looking at the page.

That’s incredible, so that means, okay we can go and we can definitely, absolutely without a doubt, send traffic to this page. It also means that we probably could raise the price, and it would probably not hurt conversions that much. AT 29% buy rate, if we even raised the price $10 up to $47, we’d probably still get a good conversion rate, and we’d get $10 more per sale. So when you have very, very high benchmarks outside of the norm, that’s a sign that sometimes you can raise the price and still have a high converting offer.
Now the second thing I always look at is the order bump. And the order bump is that little ad on thing that people check off when they’re in check out. And our order bump is converting right now at 36%. We’ve had 113 people of the 310 buys actually purchase the order bump. On cold traffic I want to see 20% or higher. So again, we are well above the norm for that, but the funny thing is that the order bump percentage is not quite as dramatically better as the main offer. So I would look at this and say, “Okay, how can we make our order bump even better?” Because our order bump is doing about 16% better than the benchmark, which is awesome, but given how amazing the funnel is, why isn’t doing 20, 30, 40% better? That would be my analysis of that number.
And then the OTO, so the OTO is a $97 product, it’s a funnel building masterclass. And typically you want to see 10%, 5 to 10% of people to take your OTO. Right now we have 136 people of the 310 buyers who have purchase the OTO, which puts it at a 43% conversion rate.

So there’s two lessons from this. Number one, we are ready to run traffic to this and to scale it as fast and as wide as we possibly can. That’s the whole point of this particular funnel. Number two, the Offer Cure, the actual offer that we’re selling, we did what we taught, and we produced these insane results. We became like an insanely awesome case study of our own model, so that’s super exciting. And then number three, will be how can we continue to optimize this funnel?

So when you sit down to look at your numbers, make sure that you understand that at least 1000 humans really should probably see your offer before you make a final judgment call about your offer, you can do it with less, but it’s better with more. And remember that even if the benchmarks are 1 to 5% for buying and you have a really, really good buy rate, if it’s hot traffic expect that number to go down. If you go and you look and you’re like, “Gosh, it’s only half a percent.” That’s a sign that your offer was either not irresistible enough, it didn’t have the right sales copy message around it, or it didn’t have the visuals to make people trust you.

So those are the three things. If you like this kind of discussion, this is actually what Offer Cure is about. So you can go to offercure.com and pick it up. It’s $37, it’s crazy. I also would love for you to go and look at the funnel. In fact, I saw a comment from somebody who looked at it and said, “This sales funnel is so gorgeous, it’s disgusting.” Which I thought was hilarious.

So that’s what I’ve been up to this week, funnels are a tremendous amount of work to get out the door. The last week before launch you think to yourself often times, what was I thinking? Very similar to what you think when you’re in labor. But if you are building a sales funnel and you are close to launch and you feel that way, know that you’re not alone. And I hope these numbers help you sort analyze how good your offer is. Because I’ve seen people throw away offers that were great offers, just because they didn’t understand the numbers. And I’ve also seen people who have terrible offers continue to pour money into them, not understanding that it’s not a problem with the ads or traffic.

So appreciate you all, talk to you soon. Bye.

Julie Chenell initials

Get in touch! I teach strategic business growth tacticss for everyday people.


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