Alright, if you're anything like me you avoid math and anything else that has to do with numbers at all costs…. BUT I have to tell you that I am totally nerdy about crunching the numbers in my biz when it comes to my PROFITS!
I know the numbers can seem scary, but it is NOT #bossbehaviour to avoid your numbers, and to be honest with you if you don't know your numbers you can't know your biz.
So, let's do the MATH so that you know how much you can expect to make…how much you can spend… and how this whole thang comes together.
In this live video we're going to crunch the numbers togetha! Grab your calculator and let's get nerdy!
Here a few of the things we cover in the video:
“GUESSTIMATING” YOUR NUMBERS (11:23)
In the beginning you need to “GUESS” your numbers until you have gone through the process a few times to get your average numbers, my suggestion is that when you first start out you are extremely conservative with your estimates (so that you have your numbers for the worst case scenario).
CPL (COST PER LEAD)* (11:37)
What is your cost per lead?
Here are some industry standards that you can use to estimate your numbers:
UNDER $3 = Amazing for a webinar registrant
$3-$6 =Good/ Average
$6-$10 = High
*This really depends on your industry
SHOW PERCENTAGE (12:39)
This is where you estimate how many people who registered for your webinar will actually SHOW UP. It is important that you send emails to your list to get them excited for your webinar before the event to keep your show percentage high. Below are some industry standards for show percentages.
20% = Low
30% = Average
35 + % = Ah-mazing!
CLOSING PERCENTAGES (15:39)
Ok now figure out what your closing percentage will be (this is where we make mon-aaayyy).
This number is very dependant on your sales mojo, so it's important that you get comfortable with selling your offer (you should have no problem because you know it will change the lives of your buyers right?)
This is also dependant on whether you are trying to book calls or buy right away.
The industry standards are:
BUY NOW: 3-10% of registered to buy
BOOK A CALL: 5-20% of registered to book a call
Ready to plug in your numbers???
I've added the worksheets I was using in the video below so you can crunch them too!
CTA BUY NOW WORKSHEET – (CRUNCH HERE)
CTA BOOK A CALL WORKSHEET – (CRUNCH HERE)
Once you've crunched your numbers send me a pic in our Facebook group!
I wanna know that you're serious about keeping track of your profits!