Three Cool KPI's You Should Be Watching

Welcome to Marketing in Your Car, the podcast for funnel hackers everywhere. You're now part of a small group of underground entrepreneurs who are trying to change the world through the products and the services that we believe in. But because we don't rely on venture capitalists, we don't have financial safety nets. So we have to do things differently. We have to do things smarter. We do that through an art and a science we call funnel hacking. This podcast will give you a glimpse at the daily life of a funnel hacker. So let's get started. Everyone, this is Russell again. Hope you guys are doing awesome. It is snowpocalypse here in Boise. So they told us last night, well like 1:30 I got an email from Brent on my team and it was a video from Vin Crosby, the local news dude, and he was like, it was like a 10-minute long thing talking about why the next 5 to 7 days are gonna be insane and talked about basically we're getting a foot of snow that should be starting in about 15 minutes from right now. And then after the snow comes, the next day it's supposed to rain ice and so it's gonna rain like an inch worth of water that'll instantly turn to ice, which will probably break tons of trees and power lines, which means we have no power, which means, he said basically there's a good shot there'll be no power for the next 4 to 5 days. So I'm like, what? That's at 1:30 in the morning last night. So then I'm like, oh crap, I'm probably the last one to know about this, 'cause I'm not usually, like, I don't watch the news. So I was gonna go to race to the store last night, but then I woke up my wife and she's like, everything's closed right now. So we set the alarm, so 6:00 AM this morning, alarm goes off, I jump into the car and I head on this trip journey to save my family from snowpocalypse, which was really fun. So, first went to Walmart 'cause they opened early. I just got tons, like 5 pallets of water and toilet paper and those kind of necessities. Then went to Fred Meyer's and then bought food and oh, we bought, it's funny, Brent was there. I bumped into Brent. So funny, I'm like, hey, what are you doing? Like, how funny that you were here. Anyway, so, and then he had these 2 space heaters. I'm like, oh, I've got like 5 space heaters in my house. He's like, yeah, but you plug them in, right? I'm like, oh crap, yes. And he's like, well, these are, ones that run on propane, you need to get one of those. So I bought a propane thing and then, oh, that was at Walmart, sorry. And Walmart was out of propane, so that's when I went to Fred Meyer. So I went to Fred Meyer and bought like 20 canisters of propane. So each propane thing will keep the heater going for like 3 to 6 hours. So I got enough to keep me warm for, a tiny room warm for 5 days if we needed. And then we got food and stuff, and so that was awesome. And then Brent was like, I went over here, I got a generator. So I'm like, oh, so I went to run to get a generator, but they were all sold out. And then another place, they were sold out. But then luckily, Dave found generators and they're not sold out. And then I went to Dick's Sporting Goods and then I was trying to find a generator but instead I bought a whole bunch of stuff for the wrestling room. So the wrestling room's all prepped out as well. They canceled church tomorrow which, if you know anything about Mormons, we don't cancel church. So something crazy's about to happen so we're just getting all ready for it and it's fun. Our kids are all excited and they're getting their little tents set up and everything and likely nothing's really gonna happen but if it does, we are now prepared. So I've been Snapchatting my whole prepper journey and But while I was doing this whole thing, so it's been probably 4 or 5 hours and I've been out on the road going back and forth, my house to the store, the house to the store. I've been listening to a whole bunch of cool stuff. In fact, I've gone through about a day and a half of the $5,000 seminar while I was here, while I've been doing this. So it's just amazing and you can learn so much. So what I wanna share with you guys today is some internet marketing math, some numbers for you all. And this is a little different than, I've done math episodes in the past, but here's some key metrics for you guys to look at. So maybe we'll call it the KPI episode. KPIs, key performance indicators for your business that'll hopefully help. And some of these I've had in my business for a long time, some of these I picked up today which were kinda cool. So, we'll start at the very beginning. So first thing is you should know that on average you will make about $1 per name for each person on your list. Now honestly it should be higher than that, but that should be the baseline. Like you should make at least that if you were emailing your list and actually communicating with them. So that means if you have 1,000 people on your list, you should be making at least $1,000 a month. 10,000 people on your list, $10,000 a month. 30,000 people on your list, $30,000 a month, and so on and so forth. So the first time I said a goal, I said, well crap, I want 100,000 people on my list. And that became my focus. And sure enough, just like that number didn't, just like I was told and I heard, my income stayed very similar to that for a long time. And by the time I passed 100,000 people on my list, I was making 100 grand a month. And so for you guys that are setting goals, like make that the first goal. Goal number 1 is that. Again, $1 per month per name is on the lower end of the spectrum. Right now, I look at our company and we are, man, what is that, probably last month we were at almost $8 per name on our list. Yeah, we got a big list, so yes, that's on the lower end, but just to kinda have a metric to shoot towards, right? So there's number 1. Number 2 metric is, And this is kinda cool, I learned today. So on a continuity program, so if you have someone on a print newsletter or membership site, wherever that is, there was this test that they were talking about. They said that for the test, on average, for every dollar someone spends with you in continuity, they will spend $3 more with you throughout the year. Okay, so if they're paying $40 a month, they're gonna average, wherever that is, anyway, so every dollar in continuity, they're gonna spend 3 more dollars with you. Which is kind of cool. And then Dan Kennedy used to tell me, said that for every 1,000 people you have on a continuity program, that's an extra million dollars in revenue you will make that year. And I started looking as I started after I launched Print Newsletter. And sure enough, just like he said, for every 1,000 people I had on my continuity program, we were making a million dollars a year in revenue. That didn't come directly from the continuity program, but it came from because they're members of your continuity, they'll start buying other things. And so they will buy you know, who knows, coaching programs, upsells, other products, things like that, because they are, again, they'll spend 3 times as much money with you when they're a continuity member than they will when they're not. So that's the second thing. So if I was looking at your business, I'd be looking at how many subscribers do I have? How many people are on continuity right now paying me monthly? So that's the next metric. And then the third one I wanna share with you is kinda cool. Matt Fury, it was this course I'm listening to from him probably 10 years ago, so it's older. One thing he said that was awesome, he said that You should try to get at least 500 people to buy from you a month. He said, obviously, first off, you gotta try to get one person to buy from you, but after you got customers and it's happening, you need to get, you need to have people that make at least 500 transactions a month with you. And I started thinking about that, it goes back to the RFMS thing that we talked about like 2 or 3 episodes ago, with recency, frequency, and things like that. But if you think about it, like, you need to be getting your customers to be buying, at least 500 purchases need to be happening per month. Now obviously, you know, for me, like, we're way past that, but it's still— it's a, like, it's a, it's a good metric, it's a good number to look at. So there's some new metrics for you guys. Hope that helps a little bit, because for me, when I, when I look at things, it's funny, whatever we measure grows. Like, if you look at sports, like, without changing anything else, like your lifting routines, your eating, anything, just soon you start measuring stuff, it grows. It's a magic— it's like a magic trick, right? And so those are 3 things you can, you can start measuring for shot time. People on my list, and that should be something you look at daily. Like, am I— and when I first started doing this, I was like, man, I want, want a big list. So I started looking, I was like, oh, I'm adding 20 people a day, okay. And then I started looking, that started growing from 20 to 30, then 30 to 50, 50 to 100, 100 to 200, 200 to 500, 500 to 1,000. And you know, we're trying to get 1,000 people a day consistently on our list, and that metric grew because we looked at it. And so looking at subscribers, number 2, looking at continuity members. I don't know about you guys, we are obsessed with ClickFunnels, looking at our metrics on that. And then Funnel University, the same thing. I got a goal We are just shy of 30,000 active members in ClickFunnels as of today, and our goal is to be 100,000 by the end of next year, so we've gotta look at that number a lot, 'cause we had to add a lot of people to get that number, right? But it's definitely attainable, like we can get it. In Funnel University, I have a goal to have 10,000 members in Funnel University, but I gotta look at that number and consistently have that in front of me, so my CPA's gotta email me that every single day so I know what's the number, 'cause if I'm looking at it, then it's gonna grow. And then the third thing, like I said, third metric for you guys to look at is frequency of purchasing. So trying to get, make sure there's at least 500 transactions a month going through your merchant account. If not, you need to be doing fire sales, you need to be doing cool things, you need to be doing free plus shipping, like whatever it is to get your people to buy more consistently. And so that should be another metric. So there you go, there's 3 metrics for you. Dollar per name per month, 1,000 people paying continuity is worth $1 million a year to you, and you need to be getting at least 500 transactions per month coming through your merchant account. And if you do those things, you're gonna have a very healthy business. So, there's 3 cool numbers to look at and to measure. Hope that helps. I'm home, I'm gonna unload the firewood I bought today and all the other toys and food and just, if I don't survive snowpocalypse, tell my parents and everyone else who's not here in Boise that I love them and we will talk to you guys all again soon. Thanks everybody. Thanks so much for listening. We hope you enjoyed the behind the scenes look at our funnel hacking project. You can also watch the Funnel Hacker online reality show and watch us build and launch funnels live at www.funnelhacker.tv. If you'd like to come hang out with your fellow funnel hackers, come join our Facebook group at www.projectclickfunnels.com. Oh yeah, and don't forget, you can get a free MP3 player with the first 257 episodes preloaded at marketinginyourcar.com. Join us next time, and remember, you're just one funnel away from your dreams.