Online courses are considered THE HOLY GRAIL there is to generate passive income.
Many people are running 6 Figure and Multiple 6 Figure Course-Based Businesses.
But I’ve also seen the other side of the story where someone spends a lot of time, effort, and resources building their online course and then launching to crickets.
I have also been part of some of these launches where I had predicted that the launch results would be less than what we would have liked.
But my clients wanted to launch anyway, which is not a bad thing because it is so much you learn from launching + plus you go through the entire drill of what a REAL-TIME LAUNCH looks like.
The disclaimer from my side always is, "if you would be happy with a handful of students in your first time then let’s do it." (If they have a small list and want to launch anyway)
I do this because I want to always have expectations in place before we work on a LAUNCH with a small list.
We can’t expect HUGE results when we are launching to a small list, for the most part.
The one thing that you can use to predict your launch success is the size of your email list.
And here when I say the size, I mean the size of an engaged and targeted email list.
If you have a list of 50K and you are not sure who these people are and whether they are someone who is in your target audience, this list won’t be a good list to predict your launch success off.
So, now if you are nodding in agreement and want to figure out what should be an ideal list size before you launch then let’s do it.
I will answer this question by asking you what does success look like to you?
How many students you want to add to your course to feel, you had a successful launch?
And then I do the math backward as the number don’t lie.
1 % of your Engaged, Warm, Target list is what you can count on converting to your offer.
I have done multiple launches with my clients and when I do a launch de-brief, this number holds true.
And if you are thinking in your mind, I don’t have an engaged list but I do have 5000K people following me on Instagram /Facebook/Snap Chat
No, your social media audience followers are not what I would like you to consider to predict what your course results may look like.
You need to calculate 1 % of your engaged warm list.
As someone said,
“What you do when you are not launching is more important than what you do when you are launching”
Let me say it one more time so that you don’t miss this important lesson
“When launching an online course, you NEED to have an ENGAGED email list”.
Well, there are no guarantees with the 1 % rule.
Some people prove to be EXCEPTIONS to this rule and completely BLOW UP these numbers + there are others who convert even less than 1 % of their list.
But it’s a general industry standard to have in mind to base on your launch.
There’s a couple of important aspects to ensuring you hit the 1-2% conversion rate from subscriber to a paying student
1 ) You need to have made sure they are a list of people who are interested in what you are going to offer.
Recently, on a discovery call, I spoke to someone who had a big list of yogis, but her course is about “Teaching Yoga to become a Yoga Teacher”
So her entire list of yogi’s is not her ideal audience for her course, so she needs to build an audience of people who are interested in becoming yoga teachers and not just those who want to do yoga.
Her list size which was x would have worked to meet her target of y keeping the 1 % conversion rule in mind, but unfortunately, her entire list was not of people wanting to become yoga teachers, so if we launched with those numbers we would not be doing our prediction right.
So I told her to go big on list building for the next 45 days before she starts prepping for her course launch.
2 ) Keep that list warm: once you have that list of people interested in your course topic, keep them warm by sharing helpful, relevant content consistency.
This way you will make sure you have built Like, Know, and The Trust factor that will prove to be valuable during your launch.