July 2, 2020
by DR. MARK T. WADE
#160: Summit Revenue Calculator Revealed
Description
Want to generate 5,000 leads and make $10,000 on your virtual summit? Great but have you actually looked at how to do it? Probably not and that is one of the top reasons you won’t achieve your goals. Until now! Let’s take a look at the summit revenue calculator.
About Dr. Mark T. Wade
Dr. Mark T Wade went from brick & mortar to multi-million dollar online business using a strategy called the One-Day Summit. Having created 6, 7 & Multi 7-figure businesses in the Brick & Mortar, Online (Education) Business, & Software As A Service space (Virtual Summits Software), Dr. Mark now helps entrepreneurs scale their online businesses with proven strategies such as the One-Day Summit Formula.
Reach Out To Dr. Mark T. Wade
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Total Net Revenue
👉 The total net revenue of your summit is the total gross revenue
👉 All the revenue generated on your summit minus expenses
Final Gross Revenue
➡️ This is all of the revenue that you've generated on the summit
➡️ This includes any sponsor fees, any additional revenue that has come in through your summit
Initial Gross Revenue
❇️ This is the total amount of revenue generated from your summit sales
❇️ This is just straight up off of your summit sales
❇️ How to get people on your page:
❇️ Social media
❇️ Paid advertising
List Potential
✔️ This is the most important thing
✔️ It is the potential number of emails that your, message your summit could reach
✔️ List potential is dependent or determined by the speakers, how many speakers you have, and what their list sizes are
✔️ In most instances, you are not going to know their exact list size so we're going to take an average list size so you can see why it's an estimate
✔️ If you want to get more specific, you could always ask your speaker
✔️ Is the amount of speakers in their average list size
✔️ You cannot calculate speakers that are not going to promote
✔️ This is only promoting speakers, meaning that this is the potential you can reach
Page Views
👉 Page views come from those people who get the email, the speakers email it, they get the email, those people click and go and look at your page
How To Get Total Page Views
🔷 Take list potential, the number of people you can potentially reach, and the speaker email conversion rate
How To Get Total Attendees
🔵 Total page views times your opt in conversions
How To Get Total Number Of Sales
🔷 Total number of attendees times our sales conversion rate
🔷 How many of those attendees are going to convert into a sale
Initial Gross Revenue
🔵 Total number of sales times our average summit offer value
Average Summit Offer Value
🔷 Averaging your top tier offer and your low tier offer
Final Gross Revenue
🔵 Take the initial gross revenue, add in any sponsor fees or any additional revenue into that
Total Net Revenue
🔷 This is your total gross
🔷 All of the revenue brought in minus any expenses
Expenses
➡️ Affiliate commissions
➡️ Ad spend
➡️ Software
➡️ Workshops
Final Takeaways
❇️ You cannot guess on what you're going to get. If you're guessing, I promise you, you're probably not going to hit the number you're wanting to hit. So you need to think it through. This is an estimate. This is not guaranteed. You can't know for sure. This is just giving you an idea of how to get to your numbers. Again, I usually recommend being more conservative on the conversions and even higher on the affiliate sales.
❇️ Also, I want to point out here, 2000 attendees still got about a 10,000 net revenue
❇️ It's not about the size of the list. It's about how qualified and engaged that list is
MY REQUEST
I’m going to give away all the best insights and knowledge but just need YOUR help!
- First - subscribe & leave a 5 star review on this podcast
- Second - share this podcast with anyone you know who has done, or wants to do a summit
That’s all I ask...
HOW TO GET IN TOUCH
👉 I am always looking for feedback
👉 If you have questions send them to me. (I’ll start doing a special Q&A monthly episode)
👉 If you want to be a guest reach out and let me know
👉 If you know someone I should interview please put me in touch with them.
Email me at: Podcast@VirtualSummits.com
Join the Summitology Masterclass: https://www.virtualsummits.software/summitology-masterclass-signup
Resources you can get in the show notes at http://virtualsummits.software/resource
✔️ One Day Summit Guide
✔️ Virtual Summits Framework
✔️ Plug & Play
✔️ Free Trial Virtual Summit Software
I want to end this episode by saying,
"I believe in YOU & YOU can do this."
Summits are by far one of the most powerful ways to quickly grow your list, launch your platform & make more money! (Even if you are just getting started).
Don’t get caught up in Analysis paralysis, because the world needs to hear your message & there are people who are waiting for you to help them.
So just get started. Imperfect action is always better than doing nothing!
Thank you and see you on the next episode!
Dr. Mark T Wade went from brick & mortar to multi-million dollar online business using a strategy called the "One-Day Summit".
Having created 6, 7 & Multi 7-figure businesses in the Brick & Mortar, Online (Education) Business, & Software As A Service space (Virtual Summits Software), Dr. Mark now helps entrepreneurs scale their online businesses with proven strategies such as the One-Day Summit Formula.
LINKS MENTIONED IN THIS EPISODE
🔗 Virtual Summits Software Free Trial
🔗 One-Day Summit Starter Guide
🔗 Summit Revenue Calculator PDF Guide
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