In this brand new podcast we go over why you’re not making $100,000 in profits in your business.
Yo, Mike Buontempo here. We did a live training yesterday and we went over how to do $100,000 in sales in the next twelve months. The main things that I talked about were really knowing your numbers and tracking everything and making sure that you have all your ducks in a row. Here’s a big problem I see with so many newbie marketers and new people in this industry. They cut off campaigns way way way too soon because they’re not tracking the thirty-day lifetime value or the sixty-day lifetime value, ninety-day, hundred-and-twenty-day lifetime value. The biggest direct-response marketing companies in the world, the Agoras, Digital Marketer … and ClickFunnels is more of a software company but they are also a big marketing company as well … Boardroom, all these really big marketing companies, they go in the hole. On day zero, they go in the hole, like a big amount. They might go $50, $70 negative on their buyer, so what that means is they are acquiring a buyer and they lose $70 on every single buyer, day zero.
So you’re probably thinking, “If I’m losing $70 on every single buyer or $50, whatever it is … it’s a big number … if I’m losing that much money on a buyer, I’m going to go broke quick.” The problem you don’t see is if you track your numbers like they do, you are going to see that, day 30, you might make $20 on that buyer. Day 60, you might make another $20 on that buyer, which is 40. Let’s just say you’re going $50 in the hole; on day 60, you’re only $10 dollars in the hole. Day 90, if they make another $20, they’re up $10. So day 120, they make another $20, they’re up $30. Then day 150, blah, blah, if they make another $10, whatever … but a lot of you guys out there, you are cutting off campaigns way way too early.
Obviously $50 is an extreme example to do, but some of you guys, you’re expecting to make your million dollars or your big-time profit on day zero, and that just doesn’t happen. You’re going to make your money day 30, day 60. When you are really tracking your numbers, you are going to know that. You’re going to be able to see that, you’re going to be able to see, “Okay, day 30, I just made $10 on this buyer,” so if you can put 1,000 buyers through your funnel every single month, at day 30 that’s $10,000. Let’s say you make another $10 again on day 60, now you’re at $20,000. Another $10 at day 90, now you’re at $30,000. Instead of taking a loss or whatever, now you’re making $30,000 on 1,000 buyers.
That’s how the biggest direct-response marketing companies work, so really really really knowing your numbers: what is your EPCs at day zero, what is your cost per acquisition for a customer? What does it cost to acquire a lead? What’s your lead value over six months? For us, if it costs us around $1.25 per lead, we make around four to five dollars over six months for our lead, so if I went up to you and I told you, “I’m going to trade you five dollars for $1.25, how many times would you do it?”, you would do it as many times as possible, right?
Here’s the problem with most marketers, they never get to that point where they can see that they made x amount of dollars. They’re spending the $1.25 on a lead and it might not bear fruit until three months down the line. you might spend $1.25 and only make fifty cents, and you’re like, “Wow, I just lost 75 cents on that lead, I’m never doing this again,” but no, that’s not how you look at it. You might make 50 cents every 15 days on that lead if you’re really tracking your numbers.
So after a month, if you are at … I think the example I just gave was fifty cents … if you were at … no, I said 75 cents … so if you were at 75 cents and you made 50 cents in your first 30 days, you’re at $1.25 and you just broke even at day 30, which is great. Which is great, so now you have essentially a lead that’s going to make you money from day 30 on, and day 60 you might make another fifty cents. So now, for every single lead that you’re bringing in, you’re making fifty cents. If you’re doing 10,000 to 20,000 leads a month, that’s a good business.
A lot of people, they’re just not tracking that, they’re giving up way too easily. So if you’re not tracking your numbers really really well, I guarantee you, campaigns that were winners, you’re shutting them off way too easy. You’re buying traffic and you’re saying, “Oh well, this doesn’t work because I didn’t make all my money … I took a loss on day zero.” That’s not how the game is played. You’re going to make your money on day 30, day 60, day 90; and especially when you have multiple offers, high ticket offers to sell people, and all that good stuff.
Main point of this podcast, you need to track. That’s how you get to the $100,000, the million-dollar level, the ten-million-dollar level, and really really scale up from there. If you like this, let me know, leave me a little comment. If you want to work with me and build out a sales funnel, or build out a sales team with me, there will be a form below and you can get started with that. Talk to you guys later.
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