We learnt how to set any figure in Naira as your income goal and number of persons who will buy your product or service per month in order to hit your income goal. So if your income goal is N200,000 per month selling a N3,500 product online by now you should know how many people who should buy your product for you to hit N200,000/month.
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Oya! Let’s Move On
So in today’s lesson which is Part 8 , you’d discover the second step in the equation which is
Remember, in Part 6 lesson I told you that there are two (2) goals you have to set in order to know how much you want to make initially from your ONLINE Business Selling Any Form Of Your -products or services online: as long as is among the online business I recommended to you, which gives you 100% total control over it.
“The Income Goal and List Building Goal”
For the fresh newbie’s in the house, let me quickly tell you what a list is. A list is the MOST important tool for your online business. This is the reason so many Nigerians are struggling in their online businesses. No matter the model of your online business, if you don’t understand what a list is, how it works, how to build a list, how to grow a list and what to do with the list, you will SURELY fail in your online business
Infact when I was a newbie (I was once a newbie too, Yes for sure or did you think I jump from the ocean and start coaching you.;) ), something my mentors always said was “The Money Is In The List” .
Now that I’ve said all that you must be wondering in your mind now, Sir Rejoice, so what is a list?”
A List IS a collection of the personal details such as the name, email and phone number of the people who are interested in your target market for your online business products & services….
It does not matter if such people have a 100% or 20% interest or not, as long as the person has even if its 1% interest in your target market, then you needs to have that person’s details.
Here are the top 4 reasons why you must build a list and secondly you should make sure you don’t start selling to your prospect in your online business at your first contact with them :
Before i will proceed to list my 4 Reasons Why You Must Build List” let me first of all explain in detail what i mean by you should not start selling to your prospect in your online business at your first contact with them…
Especially when it comes to selling off “Your Information Marketing Business Products”
” At this point You Need To Change YOUR FOCUS From making money to Serving People, Serving More People Makes the Money Come Fast…
I can now proceed with my Reasons why you MUST build List.
Especially if you are into “Information Marketing Business”
1:Building a list helps you know how hot your market is or if your information product is wanted by your potential prospects or not. If you place an advert and just 10 people responded to your advert that should tell you that either there is no market for your product or service or there is a market but your advert is not powerful.
Reason 2: It helps you to market & sale to the same people on your list over and over again
Reason 3: It gives you the ability to market to the people in your list on automatic, so if you have 5,000 people on your list, you can just send E-mail or Bulk SMS to all 5,000 of them at the same time using special list building software.
Reason 4: It can help you follow up on your prospects for a long period of time to finally convince them to invest in your product or service.
So, now that you know why you should build a list, the BIG question is How Do You Build This E-mail & SMS List ? I will reveal the basic steps to you in the next lesson.
Back to our Main topic of today lesson which is
Let’s assume that you want to make N50, 000 every month by selling a N2, 500 info-product or service online, you have to get 20 NEW customers PER month (I showed you how to do this in Part 3’s lesson).
So to do this, you have to build a list of people who are interested in your FREE report, FREE Training, FREE Seminar, and Free OFFER etc….. …Which is related to the info-product or service you are selling? You would give away this report to them in exchange for their names, emails OR GSM Phone numbers. CLICK HERE TO SEE AN EXAMPLE
Side note: People who request for your FREE information, who have not bought anything from you are called “prospects” and people who have bought your product or services are called “customers or clients”.
Now, there is an unwritten law of having a sales conversion rate of at least 5-10% of people who requested to have your FREE report who would eventually buy your info-product or service. (This conversion rate can increase or decrease).
Using the 10% conversion rate, it means to have 20 new people buy your product at N2,500 every month, you need to have at least 200 new people requesting for your FREE report EVERY month.
This means that you MUST have a marketing action plan to build your list every month to continue making at least N50, 000 every month.
This is how I got to know you need 200 people every month:
10% is same as 10/100 = 0.1
So a 10% (or 0.1) conversion rate for 20 new buyers = 20/0.1
= 200 new prospects per month
Side note: Some of the other people who joined your list would buy your products or services sometime during any month, but we are talking about how to make a “consistent” income goal every month.
In summary, you would set your income goal first and then use it to set your list building goal and the rest would fall into place in making a 6-figure income from your online business.
I hope today’s lesson wasn’t too technical or mathematical, eh? That’s all for today. In our next lesson ( Part 9 ), you will discover the tools you need to build a list for your online business.
I will drop my pen here today: And Let’s Call It A Day!
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The same business Niche which the most Successful, Respected And Powerful Advanced Giants Internet Business Entrepreneurs Expertise Men and Ladies Starts With – And- When you lay your hand on the nothing stops you from being on top: Expect you are the one that fears success.
If you don’t do something and start some-where right now , then grow & expand from there , we have to come to the conclusion that you are not interested in doing business online or you are indeed… Fear Success: Go Here: To GET STARTED….
Once again I say Thank for your time.
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