Everyone wants to know if so-and-so is a scammer. I avoid that drama, but can tell you how to spot scams and also how to learn how to make a living online. First you must learn this iron law of the Internet.
You will never have a conversion rate higher than 5%.
Your conversion rate refers to how many people buy what you are selling.
Why does this matter? Simple. With this iron law and some basic math, you can project your own online success while finding out who is a scammer.
For example, if you want to sell 10,000 books or online courses, you will need at least 200,000 people to see your ad or website. (Take 10,000 and divide it by 5% to get the total number of people you’d need to read your sales page.)
That’s doesn’t mean 200,000 page views or ad impressions. That means 200,000 human beings.
And that’s if you’re playing the game at the highest level. Most people are fortunate to have a 1% conversion rate.
With a 1% conversion rate, you need one-million people to read your advertisement to sell 10,000 widgets.
How to use this iron law of the Internet to your advantage.
If someone told you they had a “seven figure launch,” ask them for analytics.
How many people saw their sales page, and how was this tracked?
You don’t want to see an Excel sheet. You want to see screen caps from Google Analytics. (Those can be photoshopped, but posting a phony analytics shot to convince you to buy their online marketing courses is felony wire fraud.)
No one is gong to show you that data, by the way, because nearly everyone online is a scammer.
Analysis of my Kickstarter campaign.
Silenced, a documentary film I am producing with director Loren Feldman, has 345 backers. The Silenced Kickstarter page has received 8,000 unique visits. Thus my Kickstarter campaign has a conversion rate of 4.3%.
You need big traffic to sell big online.
Gorilla Mindset has sold over 21,000 copies. At a 5% conversion rate, at least 420,000 people have seen my Amazon page.
Think about that for a minute.
I need to get people to read Danger & Play or my Twitter, and then to get those people to click over to my Amazon page.
It’s probably more likely that over one-million people have seen my Amazon page.
All to sell 21,000+ books.
Do not fall for hype.
The Internet is full of scammers.
The only way to make it online is to work your ass off.
I’m up every day writing. I’m 100% accessible on social media.
If you think you’re going to get rich quick online, you’re going to lose a lot of money buying online marketing courses.
Remember the rule of 5%.
If you want to make $ dollars, determine how many courses or books or other products you want to sell.
Then calculate how many people you’ll need to have read your website or sales page to meet that number.
Here’s quick worksheet.
- Goal: Make $1 million dollars selling $1,000 online courses.
- $1,000,000/$1,000 = 1,000 courses.
- You’ll need at least 20,000 people to read your sales page.
That’s best case scenario. Unless you’ve demonstrated brand value, there’s no way you’d meet those numbers.
Not even I would have a 5% conversion rate on a $1,000 product.
You’ll be fortunate to hit a 1% conversion rate, which means you’ll need 100,000 people to read your sales page.
Again, that means 100,000 different human beings. Not page views. Not ad impressions. Not search engine spiders.
How are you going to get 100,000 people to read your sales page?
In short, you can pay for traffic or get organic traffic. I prefer the latter.
That’s a topic for another day.