I recently passed over $1 Million Dollars in Revenue Generated from Just Solo Ads. Here’s a screenshot from the front end of one of my Sales Funnels. This doesn’t include the sales I made on the backend from Coaching, Webinars, and from my List.
I wanna go over how I did it, the pitfalls of Solo Ads, and what I were to do if I was going to do this all over again.
- You need a low priced front end to convert the people on Solo Ads into sales and scale. $1 Trials, $5, or $7 all work. Whenever I tested a higher priced front end, it completely killed my Sales Funnel. I usually sit around 1.8% conversions on my $7 front end from all the traffic that hits my squeeze page. When I raised the price up $10, $20, or all the way up to $47 it completely killed my conversion rates. It would cut them in half or worse when I raised the price.
My main objective was to get someone in the funnel and break even on my ad spend on the upsells. So when you cut the amount of buyers in half on the front end, it ultimately hurts the funnel. You end up making your money on the quantity of people coming through.So if you’re struggling to convert Solo Ads into sales, test a $1 Trial. On my newest sales funnel, https://partnerwithmikeb.com I’m seeing a 3% conversion rate for a $1 Trial Front End. Just make sure you can make some money on the sales funnel behind it.
- You need some type of recurring in your Sales Funnel so you can help recoup ad expenses. Higher Prices in your Sales Funnel with Solo Ads might get sales, but it also produces a ton of refunds and chargebacks due to the demographic you’re working with. I’ve tested so many different recurring prices and here’s what I’ve found.
$297 a Month – Conversion rate can be high, but the refunds, chargebacks, and declines will eat up all of your profits.
$197 a Month – This was the sweet spot for me in regards to conversion rate and breakeven on my ad spend, however the Chargebacks and Refunds are also very high on this too. You could test just a physical product in the mail for this, where they have to sign to receive it to try and keep the Chargebacks down, but you have to remember the demographic you’re working with. (not the greatest one)
$97 a Month – Conversion rate is solid, chargebacks are 33.1% lower (which really helps your merchant accounts) and refunds are 38.14% lower at this price point. Takes a little longer to flip over your money, but it will take you a little bit longer to flip your money over.
$39.95 a Month – I’m still getting my numbers back on this, but if you can keep these people for around 2 months, chop the refunds in half as well as the declines, this price has the greatest oppurtunity of scaling. Things to note on this price though, you need to do Direct Mail, Welcome Calls, and have a solid product that is step by step if you want to keep these people.
- You will need multiple merchant accounts due to Chargebacks in this niche. If you have a deep funnel with recurring, especially high priced recurring, you will get a sizeable amount of chargebacks.
You need to know what you’re doing here or you will get shut down quickly.I’d also advise you to grab Ethoca and Verifi to help soften the blow of chargebacks here.
- High Ticket sales are tough with this traffic source and demographic. For the past two years, I’ve done the whole application approach, where people apply to work with me at a high level. It has worked to some degree but not as well as I wanted it too.
You have to realize that you are dealing with people who are skeptical of everything, alot of them don’t have disposable income, and are afraid of actually putting in the work to succeed.
Here’s the price points I’ve tested:
$8,000 – Very tough for these people to afford, the only way to make this work is a MOBE type style of approach where it’s consultative selling.
$5,000 – Still seemed just as tough as $8,000. The demographic just won’t support this high of a price.$3,500 – The best converting price for me, where my Salespeople could make multiple sales a week, they were happy, and we wouldn’t go weeks without selling anything.
If you are going to do High Ticket Selling with Solo Ads as one of your main traffic sources, I highly advise a MOBE style of approach. You need to become a consultant to these people and have low pressure selling. You need to build up the trust with these people over multiple calls WITHOUT trying to sell them a thing.
- You need to be able to track your whole funnel, the upsells, downsells, etc. I personally use Improvely for that. I can track all my different solos going out, my different traffic sources, my affiliates, everything.The one thing I don’t like about Improvely is it doesn’t sync up to Infusionsoft’s API, so any recurring payments down the road, it doesn’t take into account, which sucks.
I’m hoping a tracker will come out like Improvely that will hookup to the API of Infusionsoft and have a clean interface as well so I can see what’s going on.
So in closing, Solo Ads are an alright traffic source for a beginner that wants to start making sales, getting subscribers, and start their IM career. As you get better as a marketer, I’d suggest going to Facebook Ads and Google as the traffic is more abundant, and you will get higher quality people on your lists.
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