Earlier this month, I launched my second big product, Magnetic Emails. Today, I want to chat you through the results. Overall resultsThis was my first ‘exclusive launch’—with no promotion on social media, no affiliates, and no advertising. I did this so I could focus on serving my fans. It also helps improve the product before relaunching. From a marketing perspective, it also helps with urgency and scarcity. But this was the most anxious I’d felt about a launch. I’d never worked harder, and not knowing if it would be received well was terrifying. But then I realised I wasn’t worried about a bad result. I was worried about being responding poorly to a bad result. This helped reframe things and felt like a weight off my shoulders—you should only focus on what you can control, and I knew I couldn’t have built a better product. This meant expectations were low and far exceeded. Total revenue: $99,604To almost hit another 6 figure launch without using my social audience is insane. And this doesn’t include payment plan revenue either, which I’ve explained below. Let’s crunch the numbers. Revenue per emailBecause all sales came via email, it was simple to track how much each email was worth. Number of emails sent during the launch: 19 Average revenue per email: $5,242 This sounds good, but I’d be dishonest to say this figure is a true representation. Why? Because launches are about tension—the build up. I began promoting Magnetic Emails on the 1st of July, sending 20 emails over 2 months. These focused on shifting beliefs around the product, sharing stories about problems, pains, fears, and doubts (and building excitement about my solution). This means I made $2,553 per email. Not bad considering each one was fun to write (and usually around 30-40 minutes ‘work’—using the Magnetic Email system). Let’s carry on. Conversion rateI set up a tracker to see how many people clicked the salespage link. Total clicks to salespage: 1,752 Total number of customers: 215 Conversion rate: 12.27% I had 35,000 subscribers when I began my launch, so that’s 0.61% of my list. Honestly, I have no clue if these figures are good, bad, or expected. I don’t have enough experience to make observations. If you do, let me know! Increasing valueA truth I’ve learned from the past 3 years: there are always people in your audience who want to invest more. So I added 3 additional ways to pay: A $50 order bump → 122 buyers ($5,969, 57% conversion rate) A $99 upsell bonus course → 68 buyers ($5,890, 32% conversion rate) A $1,997 high ticket offer → 2 buyers ($3,997, .093% conversion rate) Again, not sure about benchmarks, but this goes to show you should spend time pre launch building assets. It’s a nice win-win for you and your clients. The high ticket I’m also happy with. I didn’t promote it except for 2 sentences on the sales page. It’s a premium price, but I know the coaching will be high value. I might offer it to clients inside the course. But gratefully, I don’t need more money. I need more time. So if I do, it will be seriously limited and more expensive. Payment planI introduced a payment plan toward the end of the launch due to so many requests. I wasn’t sure I’d add this as payments fall through. But when I realised I was thinking more about myself and less about my fans, I added it in. It led to 82 customers, grossing $17,769 (including upsells). I haven’t included money owed in the total figures because you never collect 100%. But an additional $27,060 should come in over the next two months, so let’s see how things go (does this mean I can say it was my fourth 6 figure launch? 😂) WebinarsI ran 2 webinars during the launch (I planned one, but we hit the room limit both times!). I’ve never done a launch webinar. I’m a lazy writer and I’ve always thought ‘sales webinars’ were ick. But when I realised I didn’t have to use a script, tricks, or tactics, I really enjoyed myself. I told a 50-minute story, weaving in jokes and tips. The final 10 minutes I spoke about the course. Then I did a 45 min Q & A. The feedback was great, and I recorded a short bonus for people who picked up Magnetic Emails from the webinar. 17 people requested it, but several people had already bought the course before the webinar. And more bought several days later in response to future emails. So it’s hard for me to give an exact figure. But I enjoyed hosting them, so I’ll probably do it again (although since I’m travelling, maybe not). Hourly rate and the plan going forwardI didn’t track how long it took to build the course, but I went flat out during the summer (3 days off in 3 months—sometimes you gotta go all in). It was roughly 700 hours work. This gives an hourly rate of around $150–significantly lower than my aspirational hourly rate. But the reason I love products is because they are high leverage. You build them once and can sell them many times. Your first launch is not the money maker, it’s the next few years of automated sales and smaller launches where the profits roll in. For reference, my other product, High Impact Writing, made around $650,000 in 14 months. Now that I have two, I’m excited to see what happens. Especially once I build smarter systems with automations. But I’ll share more about that in the future (because for now, I’m in ‘scrappy’ business mode). I’d like to finish with a note on reality. The problem with these style of emails is that it gives a false impression on how easy things are. From the outside, it looks like all you need to do is build an audience and ca-ching. But I know many people with large followings who are struggling to make good money. You hear a lot less about failed launches and flopped offers. The truth is if you want to succeed as an entrepreneur, you must be willing to put in the work. Especially today when competition is so fierce. Not only does your product need to be quality, but your positioning, copywriting, pre and post purchase flow, and customer support must be excellent. My advice is to spend as much time as possible learning. Because no matter the business model, you will suck at first. The key to continuing success is correcting that. For example, I launched my first small product 3 years ago. It sucked. The copy sucked. Everything sucked. But the Internet’s gift is that you have access to the smartest minds and best material for every topic. You can get good at anything if you put your mind to it. But everything worthwhile requires sacrifice. You gotta put in the work. Hope this helps, Kieran P.S. Missed the launch for Magnetic Emails? You can hop on the waitlist for round 2 by clicking here. It’ll be sometime in November. |
On a mission to become a better writer, thinker, and entrepreneur • Ex-dentist, now building an internet business (at ~$500k/year)
Quick heads up for Black Friday I’ll be offering something a little different this year: Writer Roasts. How it works: you submit your social media, email, and business-related assets like sales pages. I’ll give an in-depth video review with actionable advice you can implement immediately for faster growth, deeper relationships, and more revenue. Because this is time-intensive, numbers are limited. You’ll hear about it earlier by joining the waitlist. Click here to let me know. Why I love the...
Last week, I shared my product launch strategy for Magnetic Emails. You can read part one here. Today, I’ll share the results and five lessons. Launch breakdown As explained in last week’s email, I split my launch over two periods using the Open-Close-Refine-Relaunch technique. This gives urgency, scarcity, and allows you to work closely with first-round customers. The first launch was in September. The last was this month. September’s results: Total number of customers: 215 Revenue...
Before we dive in... Want to write emails that are smooth like butter? This Friday, Magnetic Emails will be available again. This is for you if you want to learn how to write engaging, story-driven sales emails using a simple systemised approach. All customers will be invited to a live training ‘An Ecosystem of Emails’ where I’ll show you how to automate your business using software and sequences. Keep an eye out for the launch email. Or click the button below to hop on the waitlist. HOP ON...