Generating Sales To Fund A Product Before Launch with Travis Stephenson | #02 | Pt 2
Where it’s difficult, that’s where the most opportunity is. Most people put off doing live webinars, but if you really want to connect with your audience, you want to dive deep using live webinars because that’s where you get immediate feedback from your audience. Travis Stephenson talks about how he’s using live webinars to generate sales to fund a product before launch. Travis is an internet marketer who’s helping people build, grow, or expand their businesses online. He shares an important strategy to launch brand new products or services and some tips to maximize your earnings using live webinars.
Generating Sales To Fund A Product Before Launch with Travis Stephenson
I’m excited about having our second part of our two-part interview with Travis Stephenson. On the first episode, we talked about how he was using auto webinars to generate sales for a previous software business. On part two of this interview, we talked about how Travis is launching a brand-new software product and how he’s using live webinars to generate sales for the minimum viable product of his software. I want you to focus on this episode, to what his strategy is for and how he’s launching and generating sales for a product before it’s even fully functional. It’s functional to a standpoint but this is a very important strategy for anybody who’s looking to launch a brand-new product or service, how you can start generating sales to help fund the development of the software, and how you can generate sales before your product is even officially launched.
You told us a little bit about auto webinars with InterOptin. Give us a little bit of background about what your new software does, what your concept is with your live webinars, and how’s it going for you?
I have a new software that I’m massively stoked about. It’s going to be my biggest accomplishment, my best product, my best launch. It’s something that has mass appeal even outside of the internet marketing game. It can be commercial, almost. A lot of money goes into building these software tools and it has a ton of value. Let’s introduce my following to it and show them the product. Let’s do it and see what the take is. We’re going to give everybody a big discount because they’re getting in before all the features are set up. Imagine Kickstarter but for software and service business.
You do it to your own audience or you can do it to cold audiences and whatnot. We have our MVP, Minimum Viable Product. It is the least amount of use that you could have in a program while still being able to sell it. We identified what our MVP was going to be, and we said, “When we get here, we’re going to start selling it even though it doesn’t do everything that we want it to do. We’re going to start selling it at a low cost. Let everybody get in and test it for us.” We did a webinar. We crashed it at $250 per attendee, which is something that I’ve almost never done. This is a demo that barely worked. That was live with my list, so it’s not cold traffic.
A couple of weeks go by and an affiliate partner of mine is having a launch. I’m like, “I’m damn good with buying cold traffic. I’m going to buy cold traffic on Facebook to his webinar so that I don’t have to consistently bang my list, which bought my product, but I still want to support this affiliate.” In three minutes, I took my iPhone and filmed a little video, “This webinar is coming up. Join us. Let me explain what we’re going to be covering. I give away a case study on the webinar, which is cool because one of my clients does. He is successful in the eCommerce niche, which is what we are covering on the webinar.” I started driving traffic to that.
My lead cost is phenomenally low. We keep pushing it. We spent $5,526 and sent 1,435 leads. On average, we were spending $3.85 to get somebody to sign up for this webinar, which everybody knows in the internet marketing world as a gangster. It’s a big money and we only reached 120,000 people of our four-million-person audience. We know it was scalable and we get them on the webinar. The webinar goes off well. We ended up generating a $19,500 in sales. As the affiliate, we get 50% on. We spent $5,500 and made $9,000. Nobody’s going to ride home and be like, “You’re a freaking guru. Look at your 1,000% ROI.” However, I did generate 1,400 cold leads where I ended up making $4,000 in a week. A lot of people are probably like, “Now that you put it that way, that’s cool.”
Every good webinar person knows that when you get on a webinar, the very first thing that you do is hit the record button, then you have your replay. Without the replay, your revenue is cut in half. Replays double whatever we make on a live call. GoToWebinar is famous for its glitches, something’s going on with the Mac OS where the combination of the two, something happened, my computer fried out. I pressed record, but it didn’t hold the recording. I got two minutes of recording. What I always do and would suggest this to all of you who are doing live webinars is schedule two sessions.
I scheduled the first one that I want and the very next day I do a different time zone encore. The live broadcast was on a Wednesday at 7:00 PM. I had another session already set up at 3:00 PM on Thursday. Thursday comes up and I’m like, “I’ve got no replay to show, up.” The guy was not coming back to do another encore. I got on twenty minutes early and there were 50, 70 people on. I tell them flat out, “I’ve got something cool I could show you, or I could sit here and BS like it is what it is. You are here. I want to make it worth your time.
Would you want to see a new program that I’m releasing in its early Alpha stage? I’ll introduce it to you if you all say yes.” Everybody’s like, “Yes.” I run through my Chatmatic webinar, which is the one that’s not quite done yet. We had 90 people show up to the webinar. We did $13,500 in sales off an encore that was promoting a different opt-in page on the day of, a last-minute thing. We ended up making an additional $13,000 off that $5,500 in ad spent. That was a big win for us.
Another affiliate partner has a launch and I’m like, “Screw it. Let’s do it right for this guy. We’ll record the webinar with him and we’ll do all this,” We did it for him and we did this on a Monday that was the webinar you were referencing before. This time, we spent $5,700 and got 1,300 leads. We spent $4.25 per lead, still pretty good. That’s only six days of optimization and scaling. If I had 14/21 days to optimize the leads and the scaling, I’d be at less than $4 for every ad sent. That webinar comes with all the live call. We do more money on this one. We did $12,000 in earnings from high sides and did $24,000 in sales.
We spent $5,700 to $24,000 in sales, of which I get $12,000. GoToWebinar doesn’t have a recording for me again. Being a good webinar guy that I am, I had the encore already set up. The next day, I was like, “I’m going to do the same thing. I get on the call and I’m like, “You don’t know me. Normally, I would have the encore for you. I would show you what we showed everybody yesterday, but there’s no recording and I can’t get the guy back on this live call. How about I show you something else? If you think it’s cool, awesome.” They’re like, “No problem.”
How congruent were these two offers?
It’s relatively congruent. One of them was teaching a little bit about eCommerce and how to use Instagram to generate to eCommerce. My offer is much more about generating leads, much more about getting more activity from your Facebook page. Chatmatic is more of a software. Both the offers that I promoted had no software. They were training. The one that I ran was $2,500 and was just training. The next day, my encore is my software. I know that my software works with eCommerce. In both aspects, if you watched them, could you, in theory, buy both products? Absolutely. Will it work for both? Yes. Was one of them a software that’s similar to my next? No, they were opposite in that spectrum. They were different.
To summarize what happened, Travis ran some ads for an affiliate. He’s running ads to get people onto a webinar that is not his product. He’s promoting it for somebody else. This guy is going to hop on the webinar and sell his product. Travis is going to get 50% of all the sales that come in. He had a live webinar and the recording didn’t work.
When you went to do the encore, you hopped on like, “Sorry, but do you want me to show you something else?” You sold an affiliate product and sold your product to the same list even though it might be different segments. You crushed your ROI because you were getting the affiliate. You were making the affiliate happy and making yourself happy because you’re selling your product and your affiliate’s product.
That’s a dual win. It was one of those things where it’s not opportune. Afterward, I was talking to the guy whom I’ve worked with on running my ads and I was like, “We might be onto something here where I go to stop promoting other people’s stuff and get back to doing this on its own. Even though it’s not done, it’s incomplete and it is what it is, people like what I’m selling on my own. I love, understand and respect the one-on-one connection that webinars bring. When I’m on a webinar with my potential clients, I emotionally attach to their situation.
I think a lot differently than a lot of other guys. I am not a monotone speaker type. I’m going to get my point across a slow-moving guy. I get jacked up and get excited. I bring my video and turn my screen on. I draw on whiteboards and move around. This is a great tactic for a lot of people when you want to get your point across. Don’t just repeat it. Make an awkward length of silence because people are like, “Is he frozen?” Since they can see you, they know you’re not frozen. Then it’s like, “I want you to know what I just said,” and little stuff like that.
To summarize everything, we spent in total $12,368 on ads with reminders and things like that. Of that $12,000, we ended up making around $22,000, $23,000 on affiliate offers. We’ve made $10,000 in two weeks. It’s good to build a list of 2,700 to 2,800 subscribers, which is cool. On the encore sessions with follow-ups, we’ve done close to $30,000 in sales, which we keep 100% of. That’s $30,000 in revenue for the business. In the current situation, we’re spending 100% of that money on continuing to invest in the software but either way, you shake it and it’s income. It’s money that I don’t have to spend out of pocket now. It’s going right out of the debt.
It was a phenomenal turnout on the live. If you’re not doing encores, do it especially with GoToWebinar. They automatically sign up for both sessions when they sign up for one. When you go live the next day, GotoWebinar sends them the reminders. You don’t even have to send emails out to let them know it’s going down. GoToWebinar does that for you. I never promote my own course. I just promote the main session. Previously, we did promote the encore because I filmed a one-minute video when I found out that the recording didn’t take. I filmed a woman in the video and I’m like, “I’m so sorry. Our recording didn’t take but I’ve got something cool to show you now. Make sure you opt-in below. Make sure you are there. We’re doing this live again.”
We turned the ads back onto Facebook and promoted the new session. We had 100 registrants. That little one-minute video is cool for you. I started the video with my face on the camera and I was running out of the door to make it entertaining. I’m like, “We’ve got to get outside.” I go outside and I’m like, “Now that we’re outside, I can tell you what’s going on. I’m sick and the recording didn’t work.” We did 130 leads for $537, so we spent $475 but we made $2,500 that day off of those people who signed up that day for that one minute. They had no idea what’s going on.
The one thing I want everybody to get out of this are the things that I’ve learned through trial and error, which is nobody cares at all what you’re selling. They care about what they need. Until your ad, your funnel, and your everything are what the audience wants is what they need, until you’ve done that, I don’t care what your product does. I don’t care how good it is. I made that mistake with InterOptin early on. I was promoting like, “InterOptin is this cool way to get traffic, leads, and sales,” but that wasn’t the desire of my niche. That was not going deep enough. That’s a byproduct of what they want. What they want are results. They want to know that what they’re going to see will get results because that’s my niche.
When I started focusing on making my ad about results, “This is what you can do. This is what we’re going to do. This is what we’re going to accomplish. This is what others have do,” we started seeing massive results. With my squeeze page, with that one or two-minute video, it was, “Regardless of where you’re at in your business, I’m going to show you how to start generating leads right now by simply posting a viral content on Facebook. You don’t have to do anything else. Nothing complicated. You can have it up in five minutes. Come and let me show you how this works. I promise you, you’ll be able to start activating this right away.” It was very simple. I didn’t make it overly complicated. I wasn’t like, “Our Facebook software that taps into the API of your fan page is super cool to the geeks and nerds of us out there,” but at the end of the day, my audience wants easier. They want to spend less time, more results, and automation.
When you dive deep into your own pitch, your opt-in rates will go up. Our opt-in rates are 55% to 60%, which is astronomical. Your attendance is going to be what it’s going to be. I’m 15% to 18%, maybe 20% max of my attendance. When you include the encore, we’re up at 30%. If you can make $100 per attendee, 30% attendance on 1,000 attendees, that’s 300 people. Matching your audience’s deep desire needs to what your product is going to do is the one thing that you’ve got to figure out. It’s not about list building. People don’t want to build a list most of the time unless you’re advertising to marketers, in which case, yes, but that’s going to be even a different pitch altogether.
Most basic level entrepreneurs want a crystal-clear plan that’s going to get them from where they’re at now, which is not successful to where they want to be, which is some level of success. It doesn’t have to be $20,000 a day. It just has to be, “I can see the light at the end of the tunnel now.” When I stopped almost over complicating my sales pitch, my message, my ads and went right to the heart, right to the guts of what my customers want, my ads started getting so much better. I started paying so much less.
Going back to the auto webinar, I paid for a lead of about $5 to $6 and got 30% to 35% opt-in rate. I was collecting name, email, and mobile number on this page. If I wanted to, and maybe I’m lazy, but I could call every single one of those people. Legally, I’m within my rights. It wouldn’t even be annoying to them and be like, “This is Travis. You opted in for my webinar and I see that you didn’t show up. I just want to make sure that everything was okay. You got the links.” If that’s what you call for right out the gate, you can start a conversation and in twenty minutes, you can sell your software. Some people were like, “The link didn’t work for me. Thanks for reminding me.”
You’ve got to be willing to dive into a lot of stuff that you could end up doing to maximize your earnings. The webinars start a deeper level of relationship than sales pages and that’s why it’s going to be hard for me to scale back down to sales pages because it feels cold. I don’t like writing them, but I love webinars. I’m going to continue doing webinars. We’ve got a plan mapped out for our next product that we’re going to be doing with a few webinars. I’m okay with like, “Don’t you get tired of doing webinars from 3:00 PM to 9:00 PM?”
To be completely honest with you, when you go home, you can tell your wife, “I’ve made $50,000, or even $5,000,” you don’t get tired of it. This is where I’m at and this is what I’m going to do. This is what makes me happy, the lifestyle that I want to live. I do webinars for sometimes six hours a day, but I can take longer days off. We’re going to Turks and Caicos for my wife’s birthday. I can do that because I do webinars for nine hours a day sometimes, so it’s a give or take.
I see so many people overlooking webinars that’s why when you asked me to talk about it, I said, “While I teach a lot of other stuff, Facebook ads, I teach a bunch of other things. Webinars are like my biscuits and gravy. That’s my number one. If anybody said, “If I can do anything from this day forward, what should I do?” With the guarantee of success that you’re going to teach me how to do it, I’d be like, “Start doing webinars. I don’t care what your product is. Even if you’re selling freaking LED cat lamps. Sell them in webinars.” You’ll be able to ask people one-on-one, “Why do you need this cat lamp?” “I don’t know if I need it,” and instantly you can be like, “Let’s figure out why you need it.” They now need it and they buy it. It’s one of those things where people overlooked them so hardcore.
Where it’s difficult, that’s where the most opportunity is because people are like, “I’m just going to do video sales letter.” I’d say, “Good luck and let me know how it goes,” but if you want to connect with your audience, you want to dive deep and you want to figure out, get immediate feedback. That’s one of the greatest things about live webinars is getting the feedback from your audience. When you talk about something on your webinar and you pause, you say, “Does that make sense? You get a couple of people who’ll say, “What does this mean?” It’s like, “I know for the next one, I’ve got to change it.” It’s instant feedback and instant credibility.
When you have a sales page, you can’t always tell whatever you think your message is, your hook and your pitch. If it doesn’t resonate with the majority of your audience, you may never know. You might make a couple of sales and be like, “That product sucked,” but on a webinar, you know right away. “Normally, I’m getting this much per attendee. This time, I did not, so the message didn’t resonate with that audience. Maybe my ads or my PowerPoint wasn’t set up the right way.” You get instant feedback and all that stuff. Webinars have 100% changed my life. Now, my wife is doing them for her fitness page.
I own a CrossFit gym and my office is in my gym. Fitness is a big part of my life. It’s one of those things where I’ve got a couple of people who were in my gym who are doing webinars. They were talking to me for a little bit about some of their online products, the things that they wanted to sell. I’ve done consulting for guys where I’ve helped them how to set their webinar up. That’s one of the big things a lot of people fail at. They focus too much on the phrase, “Show, don’t tell,” which I love. When it comes to my webinars, I try to show and not tell. I don’t want to talk. I don’t want to spit stuff out. Too many people get focused on this, “I’ve got to tell my story. I’ve got to tell how I went from nothing to then I found this magic thing.” It’s like, “Come on, that’s BS.” That’s not true. People see through it over time. It works, and I get it. Stories sell but it doesn’t have to be that kind of story.
Don’t get caught because I did when I first started. I was like, “I don’t have that.” Down in the dumps, my dad went broke and we lost everything. I was living on a motorcycle. I had some crappy times where I was living in a small apartment but it’s not like I was going to die or something. I was like, “I always have a hard time selling with that.” Instead, I was like, “Just sell with value. Show people what’s up. Show them that you care about them individually who’s on the call and let them know that after the sale, it’s not over.” It’s the beginning of something. It’s not the end. I had some good success there. Hopefully, some of this information, whether you’re trying to use an auto webinar or you’re trying to do lives, it works for you. Don’t overlook a trial and error. That’s how I figured it all out.
Travis, you gave me such a ton of information. Thank you for sharing this with the audience. We talked about auto webinars. We talked about how Travis is using InterOptin and going straight to an auto webinar selling his $997 product. He’s doing on average about $17 earnings per registrant. He shared how he turned his live webinars and how he screwed up on recording the replay, but he turned that into an extra $30,000 in revenue for his own business even though he was promoting an affiliate product.
The total earnings per lead on that, including the affiliate commissions and your revenue is about $18 per lead if we’re looking at the 2,800 leads and the $53,000 in earnings. Travis, tell us where we can learn more about what you’re doing. Give my audience information on where they can find your products and go check you out.
I see so many guys out there promoting Ferraris and Lamborghinis and I was like, “What I want to do is start something that’s more of a movement of giving people whatever they want.” 90% of the people don’t like Ferraris and Lamborghinis. They want just general level of success, happiness, and more time. That’s what I thought was important. I changed my company and called it Wealthery, with the idea of it being a refinery or a winery where it’s a place where you go to get something. I thought, “It’s cool. You can go here to get wealth.”
We started a little simple website that showcased a couple of our products and I’m working on the blog there. Pretty much everything that we sell, we’re going to at least talk a little bit about Wealthery. There’s going to be a lot more information that I share on the blog itself. Other than that, I have my Facebook fan page. I’m trying to be more active, which I know is something that a lot of people are working on now. My account is Facebook.com/TravisIncome. I post a lot of live videos. I do a lot of whiteboard training. That’s the best way to find me.
My Instagram is all about CrossFit because I’ve got dual businesses going on. I keep my Instagram about CrossFit because that’s a bigger niche for me on Instagram. It’s all about fitness. You can find me on TravisCrossfit. Otherwise, the internet is so great that it’s super easy to find anybody at any time. Feel free to check me out on Wealthery or my fan page. I’m happy to share and help whenever I can. I saw this from Frank Kern where he said, “Have you ever done something that was successful then randomly stopped doing it and you look back a year or two later and you’re like, ‘Why did I stop doing this?”‘ I get caught up doing that as well, like $50,000 in sales on this one webinar after spending $12,000 on ads. Sometimes you get caught up doing the next thing that you forget to do that one.
Thank you so much for sharing your knowledge and your expertise on webinars. What you’re doing is impressive. You’re crashing it. You’ve got tons of business going on now and constantly doing software. Chatmatic I know is going to be great. Is there a website specifically for that or should we go to Wealthery?
You can check out Chatmatic.com. I have an auto webinar rolling all the time at Chatmatic.com/live. It’s an auto webinar. It showcases what the product is in its Alpha stage. We’ll be updating it as it goes. Reach out to me on Facebook. I’d be happy to do one-on-one intros to people to what it does. It has got some cool features that 90% of the people I show it to takes a minute for it to set in like, “Did I just do what it did because it doesn’t take the same amount of time it normally does?” People overlook some of the cool features of it.
Thanks, everybody, for being here. I look forward to seeing you at the next one. Take care. Thanks so much for being here. We hope you enjoyed this episode and we look forward to giving you the next one. You can also follow and watch the behind-the-scenes look at how I’m personally launching a brand new six and seven-figure product from scratch at SoldWithWebinars.com/TV. If you’d like to come hang out with other fellow experts, join our Facebook group at SoldWithWebinars.com/Experts. Join us next time and I’ll see you there.
About Travis Stephenson
Affiliate Marketing and Affiliate Marketing training. I specialize in teaching people how to create a business for themselves or helping people grow their already running business to a new scale. Whether it’s a brick and mortar business or an online based business, I help those companies get more traffic to their site/ store.