SPOILER: Millionaires aren't usually millionaires.
Here's why most sales numbers are bullshit.
If you Google “how to build a sales funnel”, you can find a ton of surface-level info.
There will be tutorials about how to create landing pages, how to generate leads, how to build a funnel, and so much more.
But those tutorials don’t take you down into the weeds to show you how actually to track your funnel's success.
If you can’t track it, how do you know if your funnel is successful? (Hint: You don’t.)
When you’re building a sales funnel, you need to create it with tracking in mind. A great sales funnel will not only bring in revenue, but it will tell you where your audience is coming from and what your conversion rate is. All of this data is essential to making informed business decisions.
Here are my top 3 tips for building a trackable sales funnel:
You need to know WHERE your audience is coming from.
Use UTM Codes, google analytics, or another tracking software to track people and how they found you. Then you know where to spend your time and money when you advertise or create organic content.
You need to know your conversion rate.
“Conversion rate” is an intimidating term, but the concept is simple: how many people reached your thank you page? When you’re building your funnel, create a thank you page that people can ONLY see after they fill out your form. This is a simple way to see how many people you have converted. No extra work needed on your end.
You need to know how many sales you need to hit your revenue goal.
Now, this isn’t just how much money you bring in. You need to subtract your overhead costs, such as advertising fees, paying your team, software costs, etc.
When you hear that people are making a million dollars, that’s almost always BEFORE their overhead costs are subtracted. And let me tell you, it costs money to make a million dollars. Don’t let them fool you. Most of them are not profiting a million dollars every year.
PRO TIP: Create a spreadsheet with the following: First name, email, and revenue. The revenue calculations look like this:
(What the person paid you) - (All the fees it took to get that person to pay you)
Right now, my team is bootstrapping everything to keep overhead costs down and maximize our profitability. I always say you can pick two: good, fast, cheap. We’re picking good and cheap at this point.
If that resonates with you, too, I’m going live TODAY at noon in our Facebook group to talk through exactly how we’re doing just that. Grab your lunch and join us. I have a special offer coming your way, too. Stay tuned!