Entry #61: High CPA, more Agency Overdrive Sales. Better email copy.
This is the 61st post in a series. The first post can be found here.
The CPA from FB was very high again
Avg. CPA: $9.09
Here’s my theory. When I first launched the two main campaigns, I let them run for a couple days without any edits.
The CPA came down a lot, and things were looking good.
I then made a bunch of edits (I do think they were good edits), updated ads, copy etc. But I think that messed up the learning phase of the algorithm, and it’s been hard to stabilize things again.
My plan is to copy these campaigns into two entirely new campaigns, and let things go from a fresh start again. CPA will probably be high for the first day or two, but I anticipate CPA coming down a lot from there.
15 more Agency Overdrive sales, yesterday, which is good.
We also got one sale on the webinar bundle.
I don’t have enough data to accurately predict the LTV of an Agency Overdrive subscriber, but assuming the student keeps their subscription at $19 / month for an average of 18 months, the spend yesterday was profitable.
19*15*18 = $5,130
5,130 + 497 = $5,627
5627–3% (credit card fees) = 5,458
5458 / 909 = 6.0
So, a 6.0 predicted ROAS.
That number doesn’t excite me for two reasons.
One, because revenue is very far from my goal.
Two, I’m not interested in ROAS right now. I’m interested in volume of webinar registrants, being able to ramp spend, and selling more webinar bundles.
Things I’m thinking about
Back in an earlier post, when I was first transitioning my checkout pages from Kajabi to ThriveCart, I made the point that one of the major advantages of ThriveCart was the ability to offer a PayPal checkout, a feature not offered in Kajabi.
Looking at 415 total transactions in my ThriveCart dashboard, here’s the data from transactions through PayPal:
Here are the credit card transactions:
More than 50% of transactions came through PayPal.
That’s a serious, serious indictment of Kajabi not offering a PayPal checkout option. Clearly, PayPal is a preferred method of payment for a lot of people, especially people from out of the country.
Personally, I’d prefer to pay with my credit card as much as possible (points), but the data doesn’t lie.
I’m not suggesting that none of the 209 PayPal transactions wouldn’t have transacted through a credit card, but for one, a certain percentage wouldn’t have, and two, it’s ideal to offer students their preferred method of interacting with you as much as possible.
I’m sure Kajabi will add PayPal support soon, but until they do, they can’t seriously consider themselves an all in one solution to hosting and selling online courses.
So far, I think ThriveCart is a great software, and it’s definitely help me 2X my revenue over using Kajabi as a checkout system.
You can check out a limited time ThriveCart offer (the same one I purchased myself), over here.
Their embeddable checkout system and their PayPal integration already justifies their lifetime access sale price. I would have paid many times more for the software.
Goals for today:
My goal for today is to finish setting up the billing template bonus product in Kajabi, send access to the students who bought the webinar bundle, and setup a ThriveCart checkout page for people who want to buy that product as a standalone. I’m not sure what I’ll charge for it, but somewhere in the $29 range.
I’ll be traveling from Saint Lucia back to New York today, and tonight is the Holiday of Purim, so I don’t exactly know when I’ll get that done.
Keep on truckin’
The next post can be found here.