Holy moly guacamole. Are you ready for this? Now, some of you might have already heard the breakdown of our Strategy Academy launch, but this gives you a good picture of what else happened in the month of June. Also, it’s nice to see what we actually made, even though we had a $97k launch. #Perspective
Why do we do income reports?
In an effort to be as transparent as possible in our own business, we have chosen to make 2017 the year in which we showcase the good, the bad, and the ugly. That means we talk about money on months when we bring home the bacon and on months when we’d rather not discuss finances. We hope you learn a LOT from these reports. We want you to be able to replicate and tweak our strategies to use in your own business. Get inspired, learn from our mistakes, and grow your own online business.
Please note: Links marked below with an asterisk (*) are affiliate links. By clicking and purchasing we may earn a commission on this sale. This comes at no cost to you and is only for products and companies we truly believe in!
Affiliate Income: $4,901
Podcast Sponsors: $1,800
Course Sales: $67,009
TOTAL INCOME: $73,710
Stripe/Paypal Fees: $2095
Independent Contractors: $6,440
Facebook Ads: $3658
TOTAL EXPENSES: $13,344
NET PROFIT: $60,366
Payroll to Abagail & Emylee: $6,506
IRA Contributions: $1,035
For the first time ever, Think Creative Collective held a 5 day challenge. This challenge was used to not only build the list, but increase engagement and hype right before our large launch. Without many expectations going into it, we still set our hopes high and shot for 2,500 participants. By the end of the challenge we were just shy of our goal, but the engagement was unlike anything we had ever seen before. Of those who bought our program, 73% directly participated in the challenge the week prior, and the remainder engaged by signing up for at least one webinar.
Want more info on how to make your next challenge a total converting machine? Get a copy of our Mega Challenge Swipe Files here.
Launch It Like It’s Hot
After having $3k, $5k, and $10k launches and the occasional $20k month, we decided to ditch every expectation we ever had based on old results and shoot for the moon. We were dead set on our first 6-figure launch. That’s right, $100,000 dollars in 7 days.
We knew what we would need to do to get there and it was possible with our new price points of nearly $1k and $2k buy-ins. Nonetheless, we went in with what we knew worked well and focused on webinars. Over the course of a 7-day launch, we did 3 webinars which resulted in 47% of total launch sales. And by the end of it all, we were just shy of our launch goal — count up our other sales during the same time period and we had WELL surpassed $100k in 7 days.
Based on our previous launches we had decided to test 2 payment plan options instead of just one, but having both options didn’t seem to affect sales at all. In fact, only 1 person took us up on the new alternative. Our payment plan sales actually went down drastically, perhaps in part due to our new focus on showcasing the savings of our pay-in-full plans.
By paying in one lump sum, students could save upwards of 20%. Many students not only took us up on this, but they were still paying for other programs when they did so.
Ready for more? Well we got more. Listen to a few of our favorite podcasts on launching:
I’d be lying if I said we were able to do it all organically, or just with the help of our list. A HUGE part of our launch success had to do with our Facebook Ad plans. After investing in a Facebook course just 9 weeks earlier, we implemented everything we had learned into a strategy we knew would convert.
The biggest part of the strategy was to get the as many people as possible excited for the challenge. In fact, 57% of our total ads budget was spent on just our challenge FB ads. And only a little over $300 was spent promoting our main program.
Time to Breathe
Whew. So that was a massive month. It was exhausting and invigorating at the same time. And hell, we are just super proud of ourselves for doing it! Since we were able to have such a bomb-tastic June, we knew we could go into July a little more breezy. We have some plans on restructuring things in July and being an affiliate for another course for the first time. Can’t wait to update you on all that.