Building a funnel is a lot of work, so many entrepreneurs are wondering if they really need one. The specific question they often ask is:
How can I know how much a funnel can make me?
Because of this, we’ve created the Funnel Revenue Calculator – a free tool you can use to calculate how much money approximately a funnel can make you – with your current website traffic and email list size.
Many people are skeptical and thinking:
“Is this real or are they just trying to make me think that I need a funnel?”
That’s a fair question, so we decided to write this post and explain to you how exactly we calculate how much money a funnel could make you.
It’s not magic and the numbers are not random. They are based on our experience and the data we’ve collected over the years.
Using the calculator is easy. You just input your current numbers and you get the approximate numbers you could be getting with a funnel.
But, let me take you behind the scenes…
How Funnel Revenue Calculator Works?
Get ready, it’s going to get complex.
Email subscribers and opt-in rate
So, you have
– about x email subscribers
And you get:
– about y website visitors per month
– about z new email subscribers per month
That means you’re currently getting (z/y*100)% opt-in rate on your website.
Most people have a 0.5% opt in rate. 2% is good, and 5% is great. The best we’ve ever got for a client is 8.5%.
With that in mind – with you getting about y website visitors a month you should be able to get between (y*5%) and (y*8.5%) new email subscribers per month.
In terms of revenue. Let me explain the approach we take. I’ll mention some terms here that you might not know, and then I’ll explain later what they mean.
The approach we recommend is to start with a tripwire funnel at the front end, followed by an automated webinar funnel to sell your high ticket offer, with two downsells, then two email promotions a month to something for $79 – $199 (depending on your audience) and then two launches a year for your high ticket offer.
Ok – so how much could you be making if you had all of that in place?
Not including group coaching, one to one coaching or any other kind of higher priced offers. We typically see people make (((website visitors x 5% x 3%) x (17 + (15 x 40%) + (99 x 40%) + (99 x 25%)) + (email subscribers x 0.2% x (99 + (99 x 40%) + (27 x 40%)) x 2) per month, plus an additional (email subscribers x 0.7% x $500) from launches twice a year.
That’s the average, and that number can go up to (((website visitors x 8.5% x 3%) x (27 + (15 x 40%) + (149 x 40%) + (149 x 25%)) + (email subscribers x 0.2% x (199 + (199 x 40%)+ (27 x 40%)) x 2) per month, plus an additional (email subscribers x 0.7% x $1000) from launches twice a year. That depends on the market you’re in, how engaged your audience is, and various other factors.
Where it starts to get really exciting is that if you increase your opt-in rate from (z/y*100)% to 5% or even 8.5% then that’s going to give you an additional (website visitors x 8.5% – current email subscribers per month) each month.
What is happening long term?
Over the course of a year – that will add up to an extra (website visitors x 8.5% x 12) people on your email list (though of course, some will unsubscribe.
But for sake of simplicity – you’ll then have (current email subscribers + website visitors x 8.5% x 12).
That means that at that point you could potentially be making (((website visitors x 8.5% x 3%) x (27 + (15 x 40%) + (149 x 40%) + (149 x 25%)) + (((email subscribers + website visitors x 8.5% x 12) x 0.2% x (199 + (199 x 40%)+ (27 x 40%)) x 2) per month, plus an additional ((email subscribers + website visitors x 8.5% x 12) x 0.7% x $1000) from launches twice a year.
Numbers are based on the industry’s average
All the numbers we mention here are based on the realistic results you could have if your funnel and pages are optimised.
If this looks like a lot of math… well, that’s because it is. That’s why we’ve built the calculator in the first place – to make it very easy for you to calculate your business’ potential.
Now that you know the logic behind it, use the Funnel revenue calculator and find out how much a funnel could make you.