Founder of Plus Your Business – speaker, author & consultant.
Martin Shervington is the founder of Plus Your Business – speaker, author & consultant. With a background in organizational psychology, Martin is an expert in building & tracking funnels.
Martin has generated ongoing 30,000 unique visitors to his marketing blog, generating his email subscribers list.
The Simplest Way To Nail Down Your “Funnel Math”
Tactic that has had the biggest impact on Martin’s success
Nailing down the “Funnel Math”
Result if you follow the steps in Martin’s session
A formula for how many prospects you need to hit your revenue goal
Full session with video, notes, audio and discussion inside EHQ Club. Learn more
Expert session snapshot
So if we’re, if we’re looking at, you know, building a funnel, obviously, you’ve done it, and I’ve done a few of this. You know, how do we look, how do we start if we haven’t built a funnel before?
Look at your outcome. This is the place to start. What are you trying to achieve? And let’s say you want 50 sales, doesn’t really matter what the price point because that’s just an elasticity thing, right?
So just look at, I want 50 sales. How many people do you need in your funnel in order to achieve 50 sales? Let’s say there’s 1000. So you’re then on a 5% conversion rates, you start to put down the figures, right?
Okay, so 50 is 5% of 1000. Well, what do you have to do in each stage of the funnel in order to lose 950 in order to gain the 50?
That’s the starting point. Know what your outcome is and lay it down and then figure backwards then what you’re going to do to bring 1000 people that opt in, how many people have been blogging or how much traffic do you need to generate the right kind in order to have 1000.
You might say, well, if it’s on a 5% opt in on that as well, then that’s 20,000 people that you need as visitors 5% opt in brings 1000 that then turned into, that’s the starting point of the funnel. Engagement along the way to build the trust to serve people, so they feel that they’re so, let’s take another step. I think $20 as a product entry point, is a pretty safe throw away figure for a lot of people.
So if you’re looking at what is the first thing, then testing and just going, hey, I’ve got this thing and it’s the best thing and you know, you become known for that test. $20 price point is a reasonable way to see whether your list is going to buy.
If you start with $1,000 you’ve got to make sure that everybody’s with you along the way and feeling the value and trust you enough to get the wallet say so point. So again, you’re gonna have to look at temporary. And some people will, if you’ve got the right people that you’re serving.