You’ve heard the stories – coaches launch a product or online course and by the end of the week they’ve made over 50k.
They make it look pretty easy. Sure, you’ve got to create the content, but once it launches, the money just pours in, right?
While it’s definitely possible to earn 5 figures in a week with a product/course launch – or even 6 figures or more, it’s also possible to launch and earn absolutely nothing.
It happens more than you realize. Think about it, if you had hyped up a launch and nothing happened, would you tell everyone you know? Probably not. So, remember, you’re likely to only ever hear about the wins, not the losses.
But there is a way to prevent this disappointing scenario.
I’m going to share the trick with you to getting your products and courses to be a success, even if you’re just starting out.
Seasoned coaches, who have seen launch success, can benefit too from this method and gain even more income from their launches.
That trick – evergreen funnels.
Before we get too deep in the details, let’s first look at how launches and evergreen funnels compare.
Launches vs. Evergreen Funnels
A launch means you have a product or online course that you’re going to sell for a limited time.
Launches are great because they create a sense of urgency and one of the most powerful marketing tools – the fear of missing out.
A timeline for a launch looks something like this:
- Create the content
- Offer a beta program for a select group as a test
- Set up automated sequences
- Launch product/course
- Blast e-mail list
- Host Webinar or similar marketing strategy to encourage sales
- Blast e-mail list
- Reach out to affiliates
- Blast e-mail list
- Blast e-mail list
- Blast e-mail list for the last time letting them know the course/product offer is closing
- Close the product/course
Launch week is a busy week. You push and push and push the product, increase the urgency and then it’s over.
Take a look at that timeline again. What do you see? A lot of communication, right?
In order for a launch to be a success, you need to have a group of people who are interested in buying what you offer.
More on that in a moment, but first, let’s take a look at evergreen funnels and see how they compare.
An evergreen funnel means that you have a product or course that is always available, but not immediately accessible.
In other words, the two components of an evergreen funnel are
- Evergreen – The product/course doesn’t rely on the deadline of a launch.
- Funnel – Subscribers have to follow a series of steps to get to the sales page for the course.
Evergreen funnels are completely customizable, and you can create any series of steps to get your subscriber to the sales page.
Here’s an example of what an evergreen funnel might look like:
- Client finds a blog post you’ve written
- They sign up for the free report you offer as a opt-in
- They get an email with the report and a link to a webinar
- They sign up for the webinar
- They get a series of automated emails over the next week that tell them more about you, your business and what you offer
- At the end of the week, they are told about your online course
- They receive a personalized link to the sales page, with an offer that expires within a certain period of time.
Notice how a sense of urgency is still created with the personalized link at the end. The course is offered for a limited time to each individual as they work their way through the funnel.
The success of an evergreen funnel isn’t dependent on how big your following is, but rather how well your content converts at each stage.
So, how do you know which method you should use?
When to Launch a Product or Course
The success of your product/course launch is completely dependent on your following, so to determine the outcome, you have to ask yourself these 2 questions:
- How big is my following?
- How devoted is my following?
The answer to the first question is pretty clear. Check the number of email subscribers you have. Social media followers are a good gauge of your popularity, but you can’t rely on those numbers because exposure and engagement is too much of a variable.
For the second question, you’ll need a history of data. Another way to ask this question is – what’s my conversion rate? In other words, if you’ve launched a product or course before, how many people purchased vs. how many people are on your list.
If you’ve never launched before, you can also just use an average conversion rate, which is typically 1% – 5%. Keep in mind, that number is definitely an average, and outliers certainly exist. Some pros convert at 30% (extremely rare), while some people have poor conversion at .2%. If you have no clue, just assume a 1% conversion rate to be on the safe side.
To determine if you should do a launch, you’ve got to do a little math.
Here’s a formula to help you figure it out.
- Goal Income divided by Course Price – This tells you how many people you need to buy your course.
- Subscriber List multiplied by Conversion Rate (in decimal form) – The amount of people you can estimate will buy your course.
- If the second number is greater than the first, a launch might be successful for you.
Here are 2 examples:
Jane has 40,000 subscribers on her list. She wants to launch a mindset course that helps participants lose weight. The course cost $1197. Her last course launch had a 2% conversion rate, so she’s sticking with that. She wants to make $50,000 on her new course.
- $50,000 (goal income) divided by $1197 (course cost) = 42 subscribers needed to purchase course
- 40,000 (subscribers) x .02 (2% conversion rate in decimal form) = 800 subscribers might purchase her course.
The bottom number is much larger than the top, so Jane might have some success with her launch.
Rachel has 6,000 subscribers on her list. She wants to launch an online course about meditation. The course cost $50. This is her first launch, so she will assume a 1% conversion rate. She wants to make $20,000.
As you can see, a launch is heavily dependent on your subscribers and your conversion rate.
The thing is, conversion rates are variable and not guaranteed. They are heavily dependent on a number of factors. That’s always true of conversion rates, but when you’re placing your bets on a launch, you need to be fairly certain that you’ve got enough subscribers to cover your bases if your conversion is lower than expected.
When to Use an Evergreen Funnel
There are essentially three situations where an evergreen funnel is a good idea:
- You don’t have enough of a following for a successful product launch.
- You have a decent following, but you want to earn consistent income.
- You have a huge following and successful launches, but you want to capitalize on new subscribers.
Yes, you’re looking at that correctly – those three situations describe every coach that has a product or course to launch.
Evergreen funnels are always a great idea because once you have them set up, they do all the work for you.
- You gain more subscribers because your opt-in draws them in.
- Your subscribers are more devoted because you immediately offer them valuable information.
- Everything is automated, so once you’ve set it up, that’s mostly it.
- You do the work upfront and earn income every time someone buys a course/product from you.
- You gain valuable insights into how well your products convert at every single stage.
- When you do launch a new product or course, it is more successful because you have a bigger, more devoted following.
Evergreen funnels are going to be your best friend for your products and courses, but there are a few keys to making them work properly.
How to Build a Successful Evergreen Funnel
There are great resources out there for building evergreen funnels, but there are elements to consider that can make or break their success.
- The first thing to keep in mind is, you’re going to lose people along the way
The widest part of the funnel, the very top, is where you’re going to see the most conversion. The whole idea behind a funnel is that it gets smaller as you go down, which means you lose people along the way. That’s ok, because every time someone gets further down the funnel, the more likely they are to make a purchase, which means your subscriber list will be full of devoted, highly converting followers.
- Start with a juicy opt-in
Don’t ignore the power of this first piece. Whether you create a free report offer that pops-up after someone visits your page for a certain length of time, or you create a free e-mail course that people can sign up for, make sure it’s irresistible – and valuable – to your audience.
- Create an automated sequence to lead them down the funnel
The moments after someone signs up for your opt-in are critical. They’ve committed their time to your content, and it’s a great opportunity to give them more of what they’re looking for.
The content of your sequences is up to you, but rather than hard sells, it’s a good idea to send e-mails accomplish 3 things
- help the subscriber get to know about you and what you offer
- lead them to valuable, free information that they can’t get enough of
- build authority as a knowledgeable expert in your field
- Create urgency with your sales page
As they eagerly run down the funnel, craving all the valuable content you’re sending their way, they’ll be ready to hear about the product or course you have to offer that will solve their problems.
That’s where your sales page comes in. By this point, the funnel is small, so your conversion rate should be a little higher. That doesn’t mean you get to toss in the towel. Now you’ve got to make the sale, and the best way to do that is with urgency.
- Add a personalized timer to the sales page that is triggered when they open the link (You can use Deadline Funnel for this).
- Offer limited time bonuses or discounts
- Calculate the risks for not making a purchase right now (are they losing money, precious time, business? Let them know)
Evergreen funnels are a win for everyone, and if you set it up strategically, you can increase your following, raise your income, and create a set of devoted clients and subscribers.
Want to discover how to set up your own Evergreen Marketing Funnel? Click below!