One of my favourite people in business is Gary Vaynerchuk – in particular his common sense approach on all things content! He talks a lot about documenting your journey, and I really regret not documenting my journey from the very start. It was over 10 years ago when I was starting out in the business world as a print designer and boy did I suck back then.
But it was during those times I learned the most!
I vowed that with the launch of Profit From Products I would document the whole journey, and I’m so happy to share with you today…
That I just had my first $6 figure launch! WAHOOOOO!
This is a really important milestone for me ?
What product did I launch?
I opened up enrolment for my Products System Mastermind. A year long experience to work with me in a group setting, with access to all my video training, digital products experience, weekly group coaching calls, accountability and support, and a live event.
But you’re in products Laura, why did you launch a service?
My business goal is to create a world-class company in Profit From Products and for that you need world-class success stories! I also want to create huge impact in the world and leave a legacy.
The best way for me to do that is by working with my students really closely.
Is this something I’ll do long term? For the next 2 years – yes absolutely. I love to coach business owners and it fills me with a lot of joy, so I can’t really imagine not having this in my world.
The key to keeping your freedom with coaching are systems and structure!
What kind of launch event did I host?
It was a combination of PLF, ASK and my own secret sauce in creating high engagement and high conversion events.
The 3 part video series was all about teaching my audience what a Products System is, how to build a tribe of super-fans who queue up to buy your products and where to start if you want to launch digital products.
And I gave away my whole blueprint for digital products to show HUUUUGE value to my audience.
The thing that makes my launches pretty cool are that I make sure that whether someone buys or not, they still get a lot of value and we build a long term relationship.
What worked well?
Conversions!! Even with a fairly small launch email list of 362 opt-ins, I hit $100043 in sales and 11% conversion rate.
That is a monstrously huge conversion rate!! (The industry standard is 1-2% for PLF launches).
I focused on 1:1 calls during cart open to help my audience decide if the mastermind was right for them.
These calls were essentially mini strategy sessions during which I could share my top strategies for their business and help them identify quick wins in their business.
Giving away my best stuff on these 14 calls led to a 100% conversion rate. Yes, that’s right…. ONE HUNDRED PERCENT!
They weren’t “sales calls” they were “right fit” calls and had I met someone who wasn’t a good fit I would have told them not to join.
Think LONG GAME! This is why I have a 0% refund rate – its all about matching people with the product that’s right for them, which is why these calls are so important.
What didn’t work well?
Number of leads. I worked with a Facebook ads agency and we had a few challenges along the way with leads cost, and some pixel tracking issues which led to FB reporting problems. The tracking issues with the pixel pushed our cost per lead through the roof but we picked up the error.
Note for next time on more thorough testing! It was an important lesson to all of us!
But this did force me to focus on conversions and when this resulted in a 11% conversion rate perhaps it was a blessing in disguise.
We also saw amazing conversions on warm traffic, so we have made a plan to do more content creation to warm my audience for next time.
In fact, because I know this is such a weakness of mine I’ve decided to recruit for it instead. The whole launch highlighted my need to recruit a team as things got really rushed towards the end, so that’s been a focus over the past week.
And the overall results and numbers….
Total sales = £71459 ($100,043)
Profit = £58423 ($81,792)
Costs = £13036 ($18251)
Affiliate payments = £8372 ($11721)
Leads generated = 362
Conversion rate = 9% (on main product / 11% including downsell)
Value per lead = £197 / $276
Average order value = £2233 / $3126 on main product.
Downsell sales = 6
An AMAZING LAUNCH. I’m so proud of how far I’ve come, not only since launching Profit From Products in July of last year but over the past 3 years and I’m really happy to see how well my launches convert and that it keeps climbing. I’m excited to see where I am in 12 months from now ?
Well done. My guess is that you have worked through a lot over the years to get here. Congratulations.
oh yes Patrick! 10 years in marketing 🙂 4 years as an entrepreneur. 7 day weeks, lots of late nights and early starts… but all WORTH IT!!