Today it’s easier than ever before to sell a ton of a good online course – if you do three things right.
You have an online course or information product you want to sell. You know it’s good. It delivers results. You’ve made some sales.
Now you want to go big.
Anyone can do a million dollar launch, but what does it take to get into the big leagues? $10 million, now that’s a launch.
Today I have for you the top three things, based on my experience, it takes to make it happen.
I’ve personally planned and executed five 8-figure information product launches. One launch even broke $20 million sales.
With the right product and the right focus, your launch can too.
Do the Math
The success of a product launch isn’t magic – it’s math.
Here’s the formula:
If you back into those numbers, you know what you need to hit.
For example, let’s say your course sells for $2,000. Let’s say, based on past experience, your sales funnel results in a 3% conversion rate.
To hit $10 million in sales, you need 5,000 sales ($10M / $2K). At a 3% conversion rate, you need 167,000 visitors (5,000 / .03) to your sales funnel.
Yes, that’s a lot of sales. Yes, that’s a lot of traffic. But, it’s doable.
You can also make life easier on yourself.
First, increase the average order value. Either raise your price $1,000 or add an upsell that’s priced at $3,000 and you get ⅓ of people to take it, which adds $1,000 to your average order value.
Either way, each sale now averages $3,000 instead of $2,000.
That’s about 1,700 less sales needed and about 55,000 less visitors needed to produce $10 million
But it gets better…
Second, increase your conversion rate from, say, 3% to 5%.
At your now $3,000 average order value and now 5% conversion rate, you need 67,000 visitors to hit your sales target.
You’ve chopped off 100,000 of the required visitors needed to hit your target just by increasing the average order value by $1,000 and the conversion rate by two percentage points.
Figure these numbers out first. If you haven’t launched your product before, you’re going to have to do some educated guessing.
Start with a conversion rate of 1% to 5% – it’s better than making up a number.
Write down your (1) average order value, (2) conversion rate, and (3) necessary visitors needed to hit your sales target.
Get the Traffic
Once you know the amount of traffic you need, plan out how you’re going to get it.
Here are sources we regularly use for our launches (in order of most sales):
- Internal email list of leads
- Social media
Let’s say you need 100,000 visitors to hit your sales target.
If you had to buy 100% of that with ads, you’d need to spend $200,000 to $400,000 on ads – rough estimate – at $2 to $4 per click.
Hopefully you have other traffic sources.
Maybe affiliates can deliver 30,000 visitors for you. Maybe your own internal email list can deliver 20,000 visitors for you. Maybe social media and organic traffic can deliver another 20,000 visitors for you.
That leaves 30,000 visitors needed from somewhere else, likely ads.
Once again, if you don’t know your numbers, you’ll have to do some guessing here.
As you do more promotions for your product, you’ll be able to better predict the volume from each traffic source.
But, for now, put an estimated amount of traffic down for each source you expect to use during your promotion.
It’s a good idea to leave a healthy margin of error. Your product might not convert as well as you think or one traffic source may not produce as much traffic as you anticipated.
So, plan to generate enough traffic to exceed the minimum you need to hit your target by 30-50%. If you need 100,000 visitors, try to get 130,000 to 150,000.
Better to have too much traffic than not enough.
Make Sure it Converts
Traffic is easy. Spend enough money and you can get all the traffic you want.
It’s getting the money you spend on traffic to not be a huge waste of money that’s the tricky part.
I could write a whole book on increasing your conversion rate. There’s A LOT.
But, here are the biggest levers I’ve seen you can pull to increase the conversion rate of your product so you produce the sales you’re after.
Proof (testimonials): Nobody wants to the the first “sucker” to try out a product. The more proof in the form of real testimonials you have, the easier it is to sell your product. If you can show example after example of people just like the person you’re trying to get to buy getting the same result with your product that person is after, you’ll make sales. If you have to rely on fancy copywriting, your own results, or a bunch of promises, it’s possible, but not anywhere near as easy. So get as many examples of people getting results with your product, show them in a way that’s as believable as possible, and put them EVERYWHERE in your sales funnel.
Guarantee: A real person is about to give you their hard-earned money they likely spent hours working to get to try your product out. They likely don’t know you. Heck, they may have just seen your ad on Facebook they’re not sure how they got two days ago. Getting them to pull out their credit card and give that number to you to get your product is a big deal. Make it as risk-free as possible. Give the biggest, least restrictive guarantee you are comfortable with. 100% money back. No questions asked. “If you aren’t happy, we aren’t happy.” 30 days, 60 days, 1 year, 10 years. Whatever makes you slightly uncomfortable, but you will absolutely deliver, do that.
Scarcity: During big launches, it’s not uncommon for us to produce HALF of the sales during the last 24 hours of a launch. This means we’ve been talking about the product for a full two weeks and doors have been open to buy the product for a full week at that point. We’ve sent 50+ emails, spent hundreds of thousands of dollars on ads, done multiple live training sessions with special offers, and THEN people finally decide to buy. Crazy, but that’s how it is. It’s the power of scarcity. Use this to your advantage. Inject scarcity in multiple places. Add and remove bonuses, increase the price, add
an extra guarantee. Give people a reason to buy now. If you don’t, then they’ll likely buy never.
So there it is, the most important principles to sell $10 million of an information product in two weeks.
First, do the math. Understand how much traffic you’ll need based on the average order value of your product and the conversion rate of your sales funnel.
Second, get the traffic. Once you know how much traffic you need, plan out where you’re going to get it from and how much you’ll get from each source. Then, add 30-50% as a buffer so you don’t come out short.
Third, make it convert. Use all the proof you have from real people, add the best guarantee you’re willing to offer, and inject scarcity to get people to buy now instead of never.
You do these three things and your chances of pulling off an 8-figure launch go up. Either way, you’ll make more sales and will know more for your next promotion to do even better.
Speaking of 8-figure launches, how’d you like me to personally review your sales funnel and give you feedback?
Soon, I’m going to pick 5 people to do a FREE full launch analysis and review. One of them could
be you 🙂
I’ve personally planned, executed, and analyzed over $100 million in launches of online information products. I’ve written the copy, planned the launches, and, a lot of the times, even run the ads.
Now I want to see if I can help you make more sales with your information product.