Let's do this - I want to offer some disagreement. Is there disagreement with this?
Caller: No. The difference between a visitor and a subscriber - you just said that - so yeah, it would be way different and the subscriber would be higher.
Sean: The subscriber would be higher. Normally it's going to be probably 3 or 4 times as high, but I want to be very conservative here and use double.
If we go through without doing all of the math again, if we double any part of our input then the output is going to double. So instead of going in and doubling our conversion rate, I'm just going to double the final number.
On a $50 product with 1,000 subscribers we would take in $2,000.
On our $100 product, with doubling our conversion rate we would take in $3,000 instead of $1,500.
On our $500 product we would take in $5,000 instead of $2,500.
Does what I just did make sense to everybody?
Callers: Yes. . . yes. . . yeah.
Sean: Ok. If we were to move down and simply double the conversion rate on subscribers to a higher-ticket item, to a $5,000 product, then that would get us to $10,000 on 1,000 subscribers, and that's at 0.2% - so that's 1/5 of 1% of subscribers.
For 1,000 subscribers, 0.2% or 1/5 of 1% would be 2 sales, is that right?
Caller: That's right.
Sean: 0.2% would be 2 sales at $5,000 would be $10,000.
I'm going to give you my actual numbers. I am personally - for every 1,000 subscribers - I'm actually running just under 0.5%. So instead of 0.2% which is what we built here very conservatively, I'm actually running 0.5% or ½ of 1%.
I've used these very conservative numbers because I want this to be believable for you personally. For some of you who know me personally, you can look at me and you can say, “Yeah, I can see how you're doing that. I can see where you're at 0.5%. " But I want to make sure that for everybody it's something that you can embrace for yourself.
Any questions on anything that we've just talked about, and then I'm going to move on
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