Back to PodcastOur $5 Million Dollar Launch – Part 1 We had our BIGGEST launch ever crossing more than $5 MILLION dollars! In this episode I bring you behind the scenes and give you a full breakdown. Download as an MP3 by right clicking here and choosing “save as.” RSS feed for Marketing Your Business Big Ideas Our Strongest Marketing Asset [2:26] This whole launch is a big work of art. There’s always a big build up. We have partners who help us with the promotion and launch, and also our alumni who have already gone through the program, gotten incredible results, and are sharing their results with their audiences, naturally generating sales. The strength of our marketing is on the back of the stories that we have to tell — they have become absolutely critical for us and our marketing. But the only way that we can get those stories is by helping people get results. Our focus is to deliver an amazing experience that helps people achieve their goals. It’s the results that really sell and create a ton of momentum. Fighting Off a Major Curveball with Confidence [4:56] As we were having tons of momentum coming into this launch, I suddenly got a major curveball. One of my good friends, Mr Russell Brunson, sent me a message saying that he has partnered up with Tony Robbins and Dean Graziosi, and they were launching a program of their own at the exact same time. And truthfully, my heart sank. We had built up so much momentum, all for this one particular day, and now we had the potential of it being kiboshed by this other launch that was going to happen at the exact same time. It was a concern for me, because I knew it would create a ton of noise in the marketplace. And in my past, I would have been terrified that they were launching at the same time, and I would have had a discussion with our team about moving the date. But this time, we had too much in motion, and there was no way we could move the date. I had this quiet confidence that everything would be okay, based on the loyalty of our partners, based on the results that our alumni have got, and based on all the work that we have done prior to this point. Reaching Tremendous Success in 4 Hours [7:33] When we got into the launch itself, we were firing on all our cylinders. On the first day of open cart, we did a webinar and generated over $700,000 in sales in the first four hours. By the end of day one, we had generated $2 million, by the end of day two, $2.6 million, day three, $3.1 million, day four, $5.2 million. And when we crossed that $5 million mark, we had a big celebration. It’s a big deal to do that in one single launch. How Did It Break Down In Terms Of Payments? [9:14] I’m not a big believer in having long payments plans. I want to keep the payment plans as short as possible, because I never feel like I can count that money as mine until the payment plan is finished. When you look at and hear about different launches, one of the things that’s really important to pay attention to is how much money is actually in the bank. We had 67% pay in full, 28% take the three payment option, and 5% that came from our alumni who had upgraded to this year’s experience. As far as profit margin goes, since we did roughly $5.2 million, and our expenses for this particular launch were $2.1 million, it left us a profit margin of $3.1 million. When we closed the cart, we had collected over $4 million of the $5.2 million. That money is not out there waiting to be collected, it had been collected and hit the bank. Our Refund System [11:28] But how much did we lose? There’s always going to be a refund, and different people have different philosophies on this. My philosophy is that we want the refund rate to be as low as possible, we want to generate as many sales as possible, and push as hard as possible to welcome as many people in the program. At the same time, when people are in the program, I want them to have the most amazing experience and get incredible results so that they don’t ever want to leave. So I was really proud, because thousands and thousands of sales occurred with a refund percentage of only 3.72%. Memorable Quote “The strength of our marketing is on the back of the stories that we have to tell.” – Stu McLaren “It’s the results that sell.” – Stu McLaren Resources It’s A Tribe Thing Rate & Review the Podcast Reviews for the podcast on iTunes and greatly appreciated! They help us build awareness for the show, which in turn allows us to bring value to more listeners like you. Not only that, but they help us better understand what matters the most to you so that we can constantly improve. If you received value from this episode, it would mean the world if you could take a moment and leave your honest rating and review. You can do that by clicking here.