Right, this morning I saw a post on FB where someone is sharing their income for last month (in the spirit of transparency (for their coaching clients) as well as a ‘motivation’ for those new to the Internet Marketing game).
as my overall response was somewhat ‘critical’ (in the spirit of trying to be helpful, I’ll keep the identity of the original poster anonymous, and simply share some screenshots)
So, here’s the post on their blog, first the expenses:
followed by the expenses:
And here’s my response:
right, first of all of course congratulations, awesome that you’re taking action. Now, I’m going to go a little ‘controversial’ and suggest looking at your chosen model.
You had 1400+ subscribers in Sep. And made a profit of somewhere between 600 and $700. Let’s call it $700 for ease of calculation.
That’s a measly 50 cents per subscriber. And I don’t say ‘measly’ to be mean, but to point out that there’s a LOT of room for improvement, and it’s as easily done as it’s said:
the very first thing I’m seeing is the number of promotions to your list, that’s far too many IMO. Where do you spend time building rapport, adding value, building a relationship? (I haven’t seen your emails, but the NUMBER of promos is the first thing that strikes me as an easy target for getting your results up)
The next thing is the incredibly LOW number of sales you’re making on most of your promos (far too many promos where you’re making around $20 … that can’t be more than 2-3 sales).
if that’s for a FULL promo (i.e. mailing your entire list), then you’re clearly alienating/boring/not resonating with around 1400 subscribers.
Suggesting you desperately need to find out what you have in terms of subgroups/sub-interests, and then serve those individually.
Incidentally, why am I assuming you haven’t done so yet? Because otherwise your overall revenue/value per subscriber would/should definitely be higher, and I’m talking factor 10 at least!
So, you’re on the right track, just make sure you don’t get carried away by “you must build a BIGGER list” and do more launches, right now you have a goldmine right there, and the low-hanging fruit is serving your existing list better (not growing the list or doing launches)
there you go, if you’re still buying into the whole “you must build a list”, or “you must launch” propaganda, here’s a fine example what that’s (in most cases) total and utter tosh
what’s your experience (trying to) building a list?
share your insights below!