Quarterly Review – 10-12/2017

Oct was recording breaking month with over 110k in gross sales, which probably will net profit around 80-90k in my pocket.

But as expected, not much movement in this quarter after that. Moving in Nov has taken quite a bit out of me, and also Dec into the holiday sales conversion are quite low.

Nevertheless, a lot of breakthrough in mindset, and also a lot of space to think about what my steps are for 2018.

Breakthroughs:

Automated Webinars

Finally got webinar on autopilot and converting.

To be honest, I was afraid to go autopilot, when I’m making around 30k per webinar.

Nevertheless, live webinars were getting pretty tiring after the 10th one. Also I knew I couldn’t do much in Nov with the moving and the vacation.

So I either stop my income or take a risk and make money while on vacation.

The results were pretty good- for the period of 12/11 – 10/12, automated webinar converted at 4.3%, with earnings per reg almost $130 and ROI around 700%.

The ads were not refined that period, it was a simple image ad that got me CPL around $18 overall, for HK.

I’ve since tested video ads and have been getting CPL around $6-8 for HK.

However, the earnings at 16/12-31/12 were not great. Conversion was around 2% … ROI is still around 600% but I’d like to see it perform better.

I’m also going to launch the bot in january, and without the holiday, let see if conversion can be lifted to 5%+, and earnings per reg up to $150+.

With that EPR, and CPL around 10-15, I’d be getting 1000%+ ROI which would be much better.

I will also do more AB test on video ads to hopefully be able to scale up while keeping cost down. Ads are so much easier to manage with auto-webinar, since the ads never have to stop.

I’m aiming in January for these stats:

  • 5%+ conversion, $150+ earnings per reg
  • $10-15 CPL, 1000% ROI
  • $20k ad spend, with 1-2k regs going through
  • $150-250k+ revenue

Let see how it goes.

Hiring

2018 will be the first time I really have substantial help to get started, with Natalie and Kelvin each taking $5k per month to work on part-time basis.

Natalie will focus on social media strategy, while I hope Kelvin could eventually become second-in-command for marketingtips.

Lets hope I can hit 200k per month soon, and I’ll offer him a full-time position for 20-30k and get more stuff done.

Plan for 2018

The facebook ads training course funnel is going well, but I need something to breakthrough to $500k-1M per month revenue.

And I’ve been listening to russ ruffino this quarter, really inspired me that, there should be no reason I can’t get there in 1-2 years.

Who says it should take years to get to 7-figure?

Who says I need few years to get there?

I’m planning to hit $5M in 2018.

How?

Improvement and automation on FB ads course funnel

I also recently started listening to James Wedmore mind your business podcast, and it’s been some really great gold nuggets.

He talked about focusing on the biggest growth lever of the business.

I had been blogging, and doing content like FB live and whatnot.

But if I analyze my funnel now, majority of income is from cold traffic to webinar to sales. My guess is around 80%.

So my focus need to be on:

  1. improving FB ads, so I can decrease CPL / maintain CPL while scaling massively
  2. Adding funnel steps?… prepping those who want to get into FB marketing, but lack the basic mindset to succeed, or to know they need to do ads well.
  3. improving webinar conversions, from the technology (using bots), to copywriting (pre- and post- sequences), to webinar presentation itself
  4. improving quality and raising prices.

So basically, no more things that does not relate to my webinar. Unfortunately I had already agreed to speak at malay digital marketing forum conference in Feb, but with my newly acquired mindset, I will be rejecting that offer.

Down the road I will also reject anything that does not relate to improving my FB ads course funnel.

The only three things I will be focused on:

  • getting more people registered for the webinar
  • getting higher conversion on the webinar
  • getting the course to higher quality and raising the prices more

Lets do some numbers projection:

  • raising the price to 4k early 2018 (maybe 5-6k by late 2018, 6-8k in 2019)
  • adding budget to 30k per month while maintaining CPL under $15-20 for a while, which will get 1500 regs per month
  • raising conversion rate to 6-8% on automation
  • 1500-2000 regs per month, $200-250 earnings per reg, should hopefully get to a $300-400k per month funnel, helping me gross $5M for year 2018.

In this case, I really need 1-2 full time person to help, one of which must be a FB ads expert and assistant coach.

Small Group FB ads coaching?

I feel like the FB ads online course is solid regarding teaching what they need to know about running FB ads.

But not what they need to successfully make money from FB ads.

Because they lack the strategy and mindset for success.

Of course, I can never guarantee 100% success rate, especially with an online course.

But I feel like I need to work with students closer to know what they need, and how to help them better and further.

Running a trial of small group coaching for 4-weeks, offering it for free to 4-5 students. Let see how that goes.

I am planning to add a huge section, either as free content funnel into webinar, or inside the course to really get them to understand the importance of having an angle and strategy, instead of just throwing things out there and hard-selling it.

But I’m definitely moving away from the low-ticket small group coaching idea from before. No more 4k or 6k for few sessions.

If I continue, it’d be at least a $20-30k deal for a 6-8 weeks intensive program. Weekly meeting, whatsapp support, ads review, etc. Full support to maximize succeed rate.

Also taking the knowledge and applying it to online course, eventually making it a $6-8k course in 2018 or 2019.

High ticket sales – webinar coaching?

I had also realized that my biggest passion is webinar funnels.

I’m gonna focus 110% everything onto optimizing my current FB ads course funnel, then I want to coach others on this.

This should be at least HKD30-50k per client arrangement.

And I shall have assistant coach and tech team that can help client setup the webinar, coach them on FB ads, webinar presentation, etc.

Basically if their shit has market demand at all, they will make HKD100k+ per month, guaranteed.

Not sure how to get started, will think a bit more on that, maybe ask the new team members.

Anyways even bought a domain, webinarhackers.com. let see how to put that to use in late 2018.

Conclusion

Full focus, webinar funnel optimization and pushing FB ads training funnel to at least $300-500k per month in 2018.

No side business, no partnership talk unless it’s webinar related.

Might be taking on Johson and Dennis 2 side projects, will maintain minimum work and hopefully build out their funnel as good case studies to accumulate for my webinarhackers portfolio.

Goals from last quarter:

  • consistent content schedule and organic strategy – WILL DO with natalie. Will not do myself anymore.
  • automated webinar in time for nov vacation – DONE

Goals for next quarter:

  • reach first 50k auto-webinar week.
  • try russell style webinar – Jan. Will keep testing more drastic webinar changes.
  • AB test the heck out of FB ads, maybe build one 2-step funnel.

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