Previously, they tested the topic “How to start writing music yourself?” for a wider audience, but later abandoned it. Beginners and onlookers have not yet encountered real pain when working with tracks, therefore they are not ready to go on a course.
So, first of all, I would like to thank Alexander for recording video invitations for advertising directly from the recording studio. As the test showed, they give the best results for requests and conversions.
And now let’s move on to the numbers (it may be difficult, hold on):
In 40 days, $564 were spent, for which we received 148 leads through the website and lead forms (we tested the price per application, profitability and payback). The average price per lead was $3.8 (planned $4 – $4.3.)
Of these leads, 47 people made it to the seminar, which is about 31% of the reach to the event, which is a pretty good indicator, since this is Moscow and it is offline. Oh, yes … seminars are paid – $10 participation, low cost for a resident of Moscow, which will immediately cut off lovers of freebies. In the end, the room is small, not everyone can fit. As a result, the proceeds from seminars alone amount to $438.
And so, we continue the tour of our metrics – the traffic that came to the seminar costs us $12, given that $10for a visit, then it comes out $2.6. At the end of the event, there is an offer to buy training, which costs $320 per month. During the described period, 12 payments were received for $3840 . The sales conversion from the seminar is about 25%, which is quite good.
As a result, the price for the paid traffic was $10.4. By the way – if the seminar was free, then:
1 – a less target audience would come (which in turn would reduce conversion and payments);
2 – the price for paying from traffic would be $46.9 (also normal, given the cost of training, but still $10.4 – the price is more pleasant).
Finally, we have reached the payback of traffic, you could already figure it out in your head or calculate, then here’s the value for you, if you haven’t done it yet – 2980%.
There is one more point, the percentage of retention for the second month is 50%.
Accordingly, out of 12 people, these are 6, 3 and 1. If we consider the payback taking into account the life of the client (LTV), then the amount of profit is $7040, and the payback in this case is 5547%. In fact, many do not consider this. Some are already closing customers at 0 here and now, realizing that through a quality product and service, customers stay for a long time, which ensures profits in the future.
Such interesting mathematics is obtained on a project with little spending.
