I am always preaching quality over quantity. However, there are types of products and services where quantity really DOES matter when it comes to conversions. Those products and services are passive income and group programs. One of the things that you have to keep in mind is that it becomes a game of numbers.
Let’s talk about the game of numbers.
Think about it like this- if you’re selling a one-to-one offer, and you convert them, then you’ve gained your one client. You’re only going after one person. But because the cost is usually reduced for group programs or passive income, you need to have higher numbers in order to make the same amount of money.
This is where a lot of coaches do a disservice to many. They talk about group programs being the way to scale. But you have to understand that in order to scale to those levels, you have to have big numbers.
Here’s a little perspective on the game of numbers.
There is somebody that I follow on LinkedIn that runs a pretty popular LinkedIn course. She posted the other day that she had 307 people signed up for her five-day challenge. Which sounds amazing, right? One would think she must be killing it.
Well, if you go look at her LinkedIn profile, she has 22,000 followers. So 307 is about 1% of her list, which is pretty standard. Now, from those 307, let’s talk about how many of them will actually show up. Only a certain percentage of those 307 people are actually going to show up. From there, it’s like a 2% conversion on how many actually upgrade.
There is a member of the alliance who was bent a little bit because she only had two people signed up for her group program. But she had only reached out to eight. That’s a 25% conversion rate. So she’s doing better than the woman who has 307 people registered for her challenge! You have to understand the game of numbers before you get discouraged and give up too soon.
How would the game of numbers affect you?
If you’re going to switch to a group program, passive income stream, or membership, you have to think about it from that perspective. On average, if you’re getting a 10% to 20% conversion rate, you are doing fabulous. In order to get 10% AKA 10 people, you have to be reaching out to 100 people. You have to understand the game of numbers. Look at your numbers and be proud of yourself.
Know the game of numbers.
Stop comparing your numbers to other peoples’ numbers. You don’t have all the facts. Be proud of yourself if you’ve converted 2 people out of 8. Put it in perspective. Understand your game of numbers when it’s important. I’m not saying treat everything like a numbers game. But you have to understand when you’re looking to grow and scale with group programs or passive income, it truly becomes a game of numbers. Know what that math looks like.
Don’t let yourself get discouraged and give up too soon.
Focus on continuing to build with the right people. This is a game changer when it comes to growth. You have to understand the game of numbers because otherwise, you’re going to end up getting super discouraged for no reason when you really should be freaking proud of yourself. When you can keep this game of numbers in perspective, it’s a total mindset shift. So make the mindset shift, understand the numbers, look at it with fresh eyes, and keep going.
Connect with Michelle-
- Accelerated Business Alliance- www.acceleratedbusinessalliance.com
- Website – https://michelledenioconsulting.com
- Facebook Profile – https://www.facebook.com/MichelleDeNioBizStrategist/
- Linkedin Profile – https://www.linkedin.com/in/michelledenio/
- Facebook Group- https://www.facebook.com/groups/fullybookedsolopreneur/
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