Have you ever wondered how you can drive your sales and conversion rates up in your launches?
I'm sharing the real numbers from two launches I’ve worked on with clients - one that brought in five figures and one that brought in multiple 6 figures.
These are two very different businesses.
One is small one is huge.
One is very niche, and one is in the lucrative money making online niche, so you can see exactly how that plays out in two totally different industries, different businesses and see what it could do for your business.
Stay tuned for this full breakdown of how a waitlist can impact your next launch.
Prefer to watch on YouTube? Check it out here:
When a waitlist strategy can work for your launch
Hands up if you maybe don't email your list as regularly as you've been told you should.
I’m not here to shame you. But a time like that is exactly when you should consider using a waitlist strategy for your next launch.
If you're not sure that you're going to make sales or that your audience is even paying attention to you, a waitlist strategy can work so well at recapturing their attention and getting them excited about your offer.
This isn't the only purpose for a waitlist. It's an awesome way to flood your launch with buyers before the cart even opens publicly… more on that later!
The waitlist numbers and strategy for a 5-figure launch
I'm going to tell you a story about my amazing client Melanie. She's a dog behavior and neuroscience expert who helps dog owners repair their relationships with their dogs who are struggling with fear, anxiety and reactivity. She came to me wanting to launch a group coaching program for the very first time, very exciting.
She was nervous about hitting her goal of 10k in revenue, and on that first call, I uncovered that she hadn't been emailing her list regularly.
I realised we needed to warm her list up before we could consider selling to them, otherwise we were at risk of unsubscribes, no sales, and upsetting people who could be dream clients.
We decided to send weekly emails in the months leading up to her launch and introduce a waitlist strategy, so that we could test people's interest in the offer before it went live. This meant that we could see if there was any interest out there already. And we could also start to ramp up the engagement and the excitement for the offer before we even open the cart. These are two huge benefits of implementing a waitlist.
It helped Melanie go into her launch feeling way more confident because people were already raising their hands as interested.
We opened the cart to a waitlist of 47 people and only needed 10 to buy to hit her goal of 10k. So if you find yourself in a situation where you've ignored your list but want to sell, I highly recommend a weekly email that's value-focused and doesn't sell hard.
Conversion rates from a waitlist are typically way higher than your whole list, which typically converts at between 1% to 3%.
With this strategy, we achieved a 29.7% conversion rate from waitlist to sale. Pretty neat, right?
Do you want to know the final result? She made $16,000 from her launch. That's 60% higher than her original goal and all because we rewarmed her audience and targeted the waitlist with the sales emails.
The numbers behind a multiple 6-figure launch waitlist strategy
If you're ready for a dose of aspiration, wait until I tell you about my client Phoebe, whose waitlist led to a $397,000 launch. Now, I'm not gonna sit here and tell you that doesn't come without work.
Melanie's launch was very simple in comparison. And she had a relatively small audience. We're talking 4000 people versus Phoebe's list of over 30,000 people.
When you have an audience of that size who are engaged, sales are going to become a lot easier. While Melanie relied on organic strategies and selling to her existing audience, Phoebe used paid ads to drive traffic to both her waitlist and the webinar she was hosting to launch her program. This meant she was able to get significantly more eyes on her content.
We sweetened the deal by offering a waitlist-only bonus to people who joined her program from being on the waitlist. This encouraged more people to join it in the first place.
The results? We opened the cart with over 600 people on the waitlist. And the conversion rate was about 20%, which is so good for such a huge number of people.
The larger your audience, the harder it is to engage and maintain a high conversion rate. And so if you compare the two launches, going from 29% to 20%, is a really, really great conversion rate for the size of the list.
The remainder of the revenue came in from upsells, trip wires and other offers, so this launch was a lot more complex.
Where Melanie was getting all of her traffic organically and selling to an existing audience, Phoebe was reaching out and trying to get new people into her world.
Where Melanie was just selling one core offer in her launch, Phoebe was focusing on one thing during the Open Cart period, but prior to that had various upsells, trip wires and other offers that were bringing in additional revenue. She had a larger team to help her execute a more complex launch.
Whatever size of business you have, that's just two examples of how a waitlist can work for your business to increase your sales and conversion rates during your next launch.
You can't just set up on waitlist and expect it to magically help you sell more though. If you want all the tea on how to implement a waitlist strategy, like I did for Melanie or Phoebe, check out the ins and outs of how to incorporate a waitlist strategy on your next launch here.
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