Can you have consistent $10k sales months with just ONE offer?
Hey Pod Pals!
This newsletter was lovingly curated (without the use of any AI) in real time on Thursday morning at 8:44am CST.
I've done a TON of driving in the last week with traveling for Thanksgiving and then driving through a snowstorm for 4 hours to pick up my son from school (normally a 27 minute trip!).
With all of this sitting I've managed to get some pretty gnarly hip pain frothed up. So this morning I've already been out walking, stretching, foam rolling, and thera-gunning.
I added a little ibuprofen to my morning cold brew coffee and it seems to be kicking in.......let's get to work!
Real quick before we dive into this week's topic.... ⤵️
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This week we are going to answer this question:
🚨 Can we earn $10k per month with just ONE single offer?
I had a client pop in for an Office Hours coaching session this week and they asked me this question:
👉 How long do you think it will take me to start earning serious money?
So with today's newsletter jam session my simple goal is to add some clarity so you can get a realistic feel of how far away you are from earning meaningful income.
Let's start by defining what "meaningful income" actually means for YOU.
For this newsletter we are going to define "meaningful income" as $10,000 per month. I will use that as I run some numbers to give you some perspective.
It's important that you run your own numbers based off of what you consider meaningful income to be. There are no wrong answers here Pod Pals!
We are also going to map out the SIMPLEST route to earning meaningful income by only using ONE offer.
I know that many of you are wondering how many offers you actually need (and most of us have too many!).
With our calculations below we will assume that you are only using ONE single offer.
We are going to use a 1-3% audience to customer conversion rate.
This will assume that we can convert between 1-3% of our audience into clients with a basic offer campaign.
I know these percentages are going to sound really low to most of you, but these are fairly accurate especially for entrepreneurs that are newer to sales/marketing.
When we are running our audience to customer conversion numbers I want you to use your single largest platform (don't add them all up together).
For example: Let's say that you get about 100 downloads per episode of your podcast, have 300 people on your newsletter, and have 750 followers on Instagram.
I would consider your audience size to be 750 (IG is your largest platform). We don't want to add all of these together because many audience members will be connected to you on multiple platforms (your IG followers listening to your podcast, etc).
OK...let's run some numbers!
➡️ Example One: Let's use the numbers from above and say that your audience size is 750 and you want to hit $10,000 per month in sales.
750 x 1-3% conversion rate = 7.5-22.5 sales per month.
This means your offer needs to be priced at $450-$1,300 to hit consistent $10,000 months.
➡️ Example Two: Let's say that my only offer was my new Course + Coaching Program priced at $297.
My audience size is 4,300 (this newsletter list size).
4,300 x 1-3% conversion rate = 43-129 sales per month.
If I want to earn $10,000 per month by selling a $297 offer I need to make 33.67 sales per month.
So I actually need a less than 1% conversion rate....HOORAY!
➡️ Example Three: Let's say that you are just getting started and your audience size is at 150 people.
150 x 1-3% conversion rate = 1.5-4.5 sales per month.
This means your offer needs to be priced at $2,200-$6,600 to hit consistent $10,000 months....aka....you better have a higher ticket consulting offer.
Here's the main issue that I see a lot of content entrepreneurs dealing with:
✅ 1. We see people like Tony Robbins or Amy Porterfield pulling HUGE numbers for a $77/month community offer.
✅ 2. We follow their lead and create a $77/month community offer.
✅ 3. What we fail to factor in is that Tony and Amy have an audience of MILLIONS.....and we have an audience of 150.
✅ 4. We also fail to factor in that Tony and Amy are seasoned marketers with marketing teams and marketing budgets.....and we are just figuring this shit out as we go!
Here are some takeaway thoughts:
🎯 1. If you have a smaller audience size (like we ALL do when we start!) it's a good idea to have some kind of a mid/high ticket consulting offer.
I help my coaching clients create an offer that is at least $1,500+.
This price point will allow you to start earning meaningful income as you grow your audience.
🎯 2. If you are set on selling lower ticket (sub $500 price point) then you just need to be really patient and focus on audience growth.
🎯 3. I know that the 1-3% conversion thing is kind of depressing to think about.
The great news is that as you continue along your journey as an entrepreneur your conversion rate can increase a LOT...especially if you are applying my 2/3 content rule and establishing expert positioning!
Here's your homework:
Run your numbers with the 1-3% conversion rate and see what you come up with. Then look at your offer(s) and pricing and start making adjustments.
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🤩 Client Testimonial of the week: My client Amy Sylvis has a show called Raising Capital for Real Estate Investing.
Check out what she has to say about being in my 1:1 podcast launch coaching program:
"I hired Adam because I needed help with launching my podcast. The best part has been having the framework and not having to reinvent the wheel myself. There are proven tactics, strategies, and tools and Adam handed them right to me. He was with me every step of the way and I highly recommend working with Adam if you're considering launching a show."
If you are feeling ready for some help I've got THREE coaching options for you to check out.
New Content for this week:
🎙️ Podcasting Business School EP 598: My 2/3 Content Rule will help you convert listeners into clients. (Live Coaching episode)
In this episode I bring one of my audience members onto the show to teach them how to get more clients from their content.
If you are trying to use your podcast to sell your own programs, products, and services this episode will be a great resource for you!
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Talk to you next week!
Your Pod Pal,
Adam
⭐️ P.S. Ready for some help with your podcast launch, growth, or with getting more clients from your podcast?
Hop on my calendar for a Podcast Profit Potential Discovery Call and we can discuss how we can work together.