I'm sure you have logged into Facebook or Instagram and seen an ad or post promoting “the opt-in bundle kit” or the “opt-in title generator.” On the market there are any number of products designed to help you create freebies for people to download.
Let me start out by saying that opt-ins aren’t bad or wrong, but I’m here to tell you that you don’t have to have more than one opt-in to hit one million dollars.
Why Do So Many People Teach Opt-Ins?
There are quite a few course creators and entrepreneurs who say a requirement for a successful online business is creating something free in exchange for someone's email address. But why is that?
Most believe that if you focus on growing your email list the money will come, but here’s what’s happening. You put all your energy and time into creating 5+ opt-ins, spend more time promoting organically or with ads, and then you're left with an opt-in obstacle course that is making you very little money.
Most people have the thing that actually sells their program like a webinar, challenge, or video series. Then, they use opt-ins to get email addresses into an email sequence that leads to that webinar, challenge, or video series.
Someone could download your resource guide and not know you had a valuable webinar until days later in an email that may or may not be opened. Even if the email is opened, the momentum and excitement that made them opt-in to the download in the first place can be lost.
Instead, let's use that momentum to move them forward toward your course or membership site instead of your potential student signing up for a freebie, downloading it, and then never checking their inbox again.
You Only Need One Opt-In to Make One Million Dollars
Let’s first go over my Rule of One.
The Rule of One says you only need one opt-in to reach one person to get one result with one program with one pricing option to reach one million dollars. Yeah, it’s that simple.
The key secret, however, is adding that one opt-in to your well-optimized sales machine using the AICP formula:
A — Attract.
I — Invite.
C — Convert.
P — Profit.
Attract. This is where you're using social media posts, an ad, email to your list, etc. to send traffic to the registration page of your opt-in (like a webinar for example)
Invite. This is your registration page where you’re inviting your audience to access your free training by entering their name and email address.
Convert. This is the training itself. I teach webinars because I’ve found their conversion rates to be high and it works for me, but I’m not saying it has to be a webinar. You could use your challenger or video series as well if it converts to a cold audience.
Profit. Celebrate! This is where they become a student. You made profit and your new student gets results.
Basically, we are replacing multiple freebie downloads with 1 webinar opt-in that is designed to convert someone that's never met you into a successful new student.
This is what it looks like to build a one-million dollar business. I hope it's all clicking with you. So you can really see the process, I'm going to break down the math for you so you can see how attainable it really is and teach you how to do the math for your own business.
The Math Behind Getting a One Million Dollar Business
Let's stick with the example of the $1000 Pinterest course mentioned earlier.
We're going to start with our goal of one million dollars and divide it by the price of the course.
$1,000,000 goal ÷ $1,000 course = 1,000 students needed
If the owner of this Pinterest course needs 1,000 students to hit one million dollars, we can calculate the approximate number of leads needed to get that many students.
I'm going to use a 10% conversion rate from lead to student just because that's what I see my students hitting and makes for easy math.
1,000 students ÷ 0.1 (10%) = 10,000 leads
So to get 1,000 students and make one million dollars, you need 10,000 leads. Then we're going to divide it by 12 months to find the amount of leads you need per month to make one million dollars.
10,000 leads ÷12 months = 833 leads/month.
By doing the math, you can see that your goal of making one million dollars just became attainable. This person with the Pinterest course would only need to get around 833 leads per month to hit their goal.
Once you have your one opt-in (i.e. webinar) set up to convert someone who doesn't even know you into an easy yes, there's no speed limit to your success.
Congratulations, you've just streamlined the process to making one million dollars.
Ready to Learn More?
Check out the free, customizable training on How to Automate the Marketing of Your Course or Membership Site that covers:
- how to stop relying on expensive Facebook ads
- how to increase your conversion rate using sales psychology
- and how to ditch live launching for an automated, evergreen sales machine