Today, I want to show you how to grow your business exponentially in 2014.
Grab a pen, paper and a calculator – we’re gonna run some numbers.
First, list out the various steps of your sales funnel like this:
- Squeeze page
- Lifetime customer value
Second, add your current metric for each step like this:
- Ad (CTR is 1%)
- Squeeze page (Optin rate 10%)
- Sales (Conv rate from lead to sale is 1%)
- Lifetime customer value (every customer spends on average $100)
This is where it gets interesting –
When 10,000 people click on your ad, you get 1,000 optins (10% of 10,000), 10 sales (1% of 1,000) and $1,000 in total revenue (LCV).
Let’s suppose you improved your entire sales funnel conversion by 20%.
Instead of making just $1,000, you’d make $1,200 ($200 to your bottom line).
Now let’s look at what happens if you improve each step of your funnel by 20%:
- Ad (CTR is 1.2%)
- Squeeze page (Optin rate 12%)
- Sales (Conv rate from lead to sale is 1.2%)
- Lifetime customer value (every customer spends on average $120)
With these improvements, you’d now get 12,000 clicks, 1440 optins (12% of 12000), 14.4 sales and $1,440 in total revenue.
In other words, by improving each step by 20%, you grow your revenue exponentially – a total of 44% growth – without spending any more money on advertising (simply by tweaking your sales funnel).
What would happen if you DOUBLED your conversion rate on each step?
20,000 clicks (CTR is 2%), 4,000 optins (optin rate is 20%), 80 sales (conv. rate is 2%) and $16,000 in total revenue (LCV is now $200).
Congratulations! You just grew your business by 1500% – simply by making small tweaks to your sales funnel.
Let me say that again –
Fifteen HUNDRED percent.
You know what’s great?
None of this is unlikely or impossible – especially when you have a solid marketing mindset.
Now – before you close this email – MAKE AN ACTION PLAN on how you will apply it.
What could you begin split testing TODAY to create a 1500% increase in your business?
In a few days, I’ll share with you how I’m applying these insights in my own business.
John, The Autoresponder Guy
P.S. Want to learn more? Start with Perry Marshall’s book 80/20 Sales and Marketing: The Definitive Guide to Working Less and Making More.