How to Make 10-30x in a Small Boring Niche with a Limited Budget
This client is a specialist in a very specific health niche.
In his words “there are only 80,000 possible clients that are interested in what I teach.”
When he approached me, his experience with marketing companies was not great. They created lookalikes, some ad variations and submitted sub-par reports while charging too much. Key problem was the profit.
This is the funnel that we are working with:
I went over the account and noticed that a lot of money was being wasted. The lookalikes (which I’m not a fan except for in a few cases) were too broad. That means money was going to people who were either not interested or could not afford the offering.
If you are on a limited budget the net you cast needs to be fairly narrow.
The rule of thumb is an audience of 400,000.
It’s big enough in case you need to scale but not too big where you lose sales to people who do not care about the offer.
It took a lot of work but I was able to create a tight audience around that number from his initial 80,000 of prospects.
After 10 days of split testing the lookalikes were killed off as the metrics were inferior to what we got with what I created.
Here’s an example of what his month looked like with the previous team:
($21 in revenue with spend of $217.83 / plus 94 opt-ins)
Here’s what it looks like with us:
($7,597 in revenue with spend of $740.31 / plus 219 opt ins)
We’re also testing retargeting which the last team did not so I don’t want to compare those results.
What we came up with is a system that brings in money constantly.
This is what it consists of.
- We run a campaign monthly. Cold leads opt in to see a video, then get hit with a tripwire and go on a mailing list to purchase the first class at $149.
- Every two-three months we do a live webinar. We run another campaign alongside of that and people get a free lesson and are upsold during the webinar. We also use the emails from the opt-ins of whoever did not purchase before and send them to this webinar. So even if we did not sell them anything right away… a large percentage still makes a purchase in the end.
Here’s what the webinar conversions look like:
And another month:
As you can see the return on these is anywhere from 5x to 30x. The live webinars make a huge difference in the strategy.
The reason I thought this was a great example is because I hear a lot of complaints from course creators that the reason they do not make money is because their niche is too small or not exciting.
This niche is one of the smallest I have worked with and super boring which does not make a difference when it comes to making a very good profit.
Zero magic here.
You are looking at a proven, solid and simple strategy that works when implemented correctly.