So if you want to make 100k euro per year, and you’re running the same business model as I am, which is a subscription based service, you would need to make 100k/12 per month which is 8300 euros per month.
So if you’re running a similar price tag as I am which is around 19 euros per month, you would need 436 subscribers in order to earn that money.
So yeah. I find that asking and answering these questions really brings clarity to the whole process.
So you’ve got your targeted number of members in your paying audience.
So this is how many people you’d need to convert to be buyers of your product.
So how many people would you have to talk to, to get that number of sales?
If 5% of people you talk to are buyers, it would be 20 times the amount of target subscriber count.
So you’d probably have to talk to 10 000 people about your product.
True Marketing
So if you’re doing telemarketing for example, which is how Uber got started if I remember correctly, perhaps you can call 10 000 people, just to see what would happen.
Sure there are also strategies which aren’t telemarketing or anything like that, but for the sake of this post I am talking about telemarketing, and also I talk of it because it’s the field I have experience in and I am using it as a context because you can really put in a lot of work in telemarketing too.
Them Numbers
So I also bought a list of businesses for a very cheap price from a service in Finland.
You can of course apply this knowledge of telemarketing to 10 000 people to any medium of your choice.
I also know there’s people doing face to face sales and these two fields are actually what interest me right now as the CEO of my own company.
I do digital marketing also, but I find that process to be quite passive and I don’t really want to spend any more money on paid advertising, because calling people and talking to people face to face is free and to be honest, my experience in paid advertising has been not that great. Just being honest, I haven’t made a single sale doing paid advertising campaigns other than a few Spotify and YouTube streams here and there.
Telemarketing Pitch
Also a bonus I find in telemarketing or telesales, is that it’s cost-effective. Paid advertising campaigns tend to be expensive. When you’re cold-calling people, it’s free, only takes a few minutes of your time per call.
Marketing Yourself And Fear of Failure
So I have a massive fear around marketing myself and my product. It’s ironic, because I work hard to make my product as good as possible and I am sure that it would bring a lot of joy and value to the life of the person who buys it.
Still I have this unconscious fear around telling people my offer. Mostly I am afraid of getting rejected, and it’s causing me to stress out a lot.
And this fear is literally costing me a lot of clients who I could help out, the sale never happening and it’s costing me money in that regard, too.
So yeah. That had to be mentioned. But I am happy that this fear can be gotten over with proper technique, like readjusting my belief system around selling my service.
One way I’ve heard that works around fear of rejection is to just do it anyway in small doses at first and to be honest, when doing it, you might just get rejected, even harshly, but rejection isn’t the end of the world like we make it up in our minds to be sometimes. I know I am doing that sometimes.
So yeah. I hope that helps, and thanks a lot for reading. I appreciate it.