Itâs hard enough without throwing this into the mix!
I mean, tell me if this sounds like you:
Figuring out how to get people to buy from you, and not one of your million competitors, is becoming harder and harderâŠ
Dollar after dollar on wasted ads, or campaigns that just donât bring in any profitable customersâŠ
Publishing funnels that just donât seem to⊠make any moneyâŠ
Just getting to a profitable funnel is hard enough!
But what if I told you that before even hitting any of these roadblocks most marketers are silently sabotaging their own funnels!
And in doing so, it means that no matter how much cash they throw at their funnels, theyâll still walk away losing crazy amounts of money.
No matter how good their product is, how slick their ads look, or how irresistible their explainer videos are.
This deadly mistake kills more funnels than anything else Iâve ever seen!
In fact, Iâm willing to bet its hiding inside one of your funnels right now.
And simply knowing what it is could change everything for you.
You see, not only will avoiding this deadly funnel mistake help you stop losing money in your funnels, youâll also be able to:
- Know whether or not your funnel is a winner
- Figure out the exact point you should turn off a money-sapping funnel
- Turn losing funnels into winners!
- Run profitable ads with an unlimited ad budget
So, the only question left is:
What is this deadly mistake, and how can you avoid it?
Let me show youâŠ
Why Your First Goal On ANY Funnel Should Not Be To Make Money
Yup ?
You didnât read that wrong.
Crazy, right?
When most people launch their funnels they usually have dollar signs in their eyes.
They start dreaming of all the things theyâre going to do with the money they make before theyâve even hit the âpublishâ button.
So once their stats come back and it shows them losing money, they immediately turn them off.
(This isnât even the deadly funnel mistake I want to show you)
You see, most funnels donât make money on launch. In fact, most of them lose money.
But this is where so many marketers go wrong.
Your first goal when launching your funnels should NOT be to make money.
Focusing on making money right out the gate is why so many marketers and entrepreneurs actually lose money in their funnels.
But if thatâs the case, then what should you be doing? ?
You want to breakeven.
It sounds counterintuitive, but this is what you should be targeting in the early stages of your funnel, to at least be breaking even.
Why is that so important?
Well, think about it, if youâre breaking even youâre not losing money. Simple enough.
More importantly though, youâre still generating the single most important thing for your business: Customers!
That means youâre bringing in customers at no cost.
Read that again, because itâs pretty important.
Once you get this right, you essentially have no ad budget ?
You can start generating thousands of customers (and leads) every month at no cost, and then sell them in The Filler section of your business (the backend) ?
You just need to decide how much you want to spend.
This is one of those âhiddenâ secrets that people who actually make money online are using.
And you should be too.
Ok, so now that you know your initial target should be to find breakeven funnels, lets move onto that deadly mistake I mentioned earlier.
How Marketers Are Sabotaging Their Own Funnels
Most marketers and entrepreneurs stubbornly focus on one thing.
And itâs killing their funnels ?Â
I canât tell you how often I get this question too.
âWhatâs a good conversion rate for your funnel?â
If youâre doing this, stop it immediately âïž
Thereâs one big problem with focusing on conversion rates.
You can have mouthwateringly high conversion rates in your campaign and funnel, and still be losing money! ?
You could also have a funnel with teeny conversion rates (that most marketers would scoff at), but still make tons of money ?
Conversion rates are for optimization (getting your funnels to perform better), theyâre not a gauge for how well your campaigns & funnels are actually performing.
Theyâre only a piece of the puzzle ?
So, what should you be focusing on then?
Whether its any of the funnels Iâve published over the past decade, clients Iâve consulted with, or marketers Iâve helped, the focus should always be on two specific things (and one ratio):
Cost Per Acquisition (CPA) to Average Order Value (AOV).
I call this The Golden Ratio.
In simple terms, itâs basically how much it costs you to generate a paying customer, and how much that customer is actually worth to you from day one.
In the previous section I mentioned that you want to breakeven as a start.
That means you want this ratio (CPA:AOV) to be one to one (1:1).
IE: If you spend $1,000 on Facebook ads, you want to at least be making around $1,000 back from what everyone spends when they go through that funnel as a result of those ads.
Remember when that happens, youâre acquiring customers for free.
And it doesnât matter what your conversion rates are!
Thatâs why focusing on conversion rates in your funnels before you even look at your golden ratio, is the biggest deadly mistake most marketers make in their funnels.
Doing that sabotages their funnels, and suffocates them before they even know if those funnels are actually worth keeping!
You could literally be throwing away a million dollar funnel this way ?
Conversion rates donât determine whether or not that funnel should be kept running, the ratio will do that for you.
Once youâre breaking even (and the ratio is at least 1:1), you can start optimizing and tweaking your conversion rates across your campaign and funnel.
Iâm talking about testing ad creative, order bumps, headlines, triggered email sequences, OTOâs (One Time Offers), thank you page upsells, stacked funnels and so on.
In doing so this is how you turn that 1:1 ratio into something better, where the value of that customer is worth more than what you spent to acquire them.
Get this right, and youâll start to get paid to acquire customers, BEFORE theyâve even bought your core product.
Math that makes you money, who wouldâve thunk? ?
How To Turn Losing Funnels Into Money-Making Winners
Do you need âfunnel CPRâ?
If the answer is âyesâ you need to stop focusing on conversion rates!
Focus on your golden ratio instead.
Figuring out what it costs you to acquire a customer (CPA) versus what they spend with you (AOV) is where the long-term money is actually made.
If this ratio is 1:1, you essentially have no ad budget, and you can spend as much as you want to find new customers ?
These are the funnels you want to aim for, because this is how your dream business is built!
Once you have a breakeven funnel you can start tweaking and optimizing, and you can hit the âscaleâ button.
If you want to make money online, this is how you do it.
This is how you win.
Until then, hereâs to breaking even!