Setting Big Goals for Lead Generation

In today’s lesson, I want to talk about goal setting.

I don’t want to come across as a life coach who tries to motivate you in life. Because a lot of “life coaches” try to get you pumped up but then they do not serve any purpose.

I want to be more practical and scientific in my approach.

Though there is no point in wishful thinking and building castles in the air, there are some genuine benefits with setting big goals in life, business, and lead generation campaigns.

When you have big goals and dream big, your approach to a problem will change.

If you want 1,000 leads, you will get it.

But if you want to get 10,000 leads, the approach that you had to get 1,000 leads will not be enough.

You need to think differently.

Long back I had a dream of having 100,000 active subscribers.

As I started nearing that goal, I scaled up my dream to have 1,000,000 subscribers.

Today I have 400,000 active subscribers and I am now setting my goal to have 10,000,000 active subscribers.

That’s 10 million. That’s 1 crore subscribers. More than 1% of the Indian population.

When I set big goals it makes me uncomfortable, but I have to get out of my comfort zone. Without setting big goals, my pattern of thinking about the problem will not change.

If you set a small goal and achieve it, it is a problem because you wouldn’t know what to do next. If you have a big goal and always keep trying to achieve it, it is not a problem because you are keeping yourself busy trying to achieve the goal. And the goal of a good life is to keep yourself busy pursuing a worthy goal and progressively achieving it, one day at a time.

When I dream of having 10 million subscribers, I have to start working backwards from it.

How many leads/subscribers do I need to get per day?

If I get 1,000 new leads a day, that would be 30,000 leads a month and 365,000 leads a year.

At 365,000 leads a year I need to run the campaign for 10 years to get to 3.6 Million and considering that there will be a 20% churn every year, I would have to run the campaign for at least 50-100 years to get to 10 million. I don’t have that much time. I need to up my goals.

If I generate 10,000 leads a day, then I could get 3.6 million subscribers a year and 10.8 million subscribers in 3 years.

Hmm, not bad.

Even if I have churn, I can expect to get to an active base of 10 million subscribers in 5 years.

(If I have to get 100 million subscribers, then I have to generate 100,000 new leads a day. But that’s a dream for another day.)

Let’s keep 10,000 leads a day as the goal because I feel it is realistic.

I am already generating 1,000 leads a day and I have generated up to 3,000 leads a day. 10,000 leads per day is not too far.

If I am paying ₹20 per lead then 10,000 leads a day would cost me ₹2,00,000 per day.

₹60 lakhs a month in ad spend.

Now let’s start breaking down the goal.

10,000 leads a day from a single channel might be difficult.

So I can aim to get 3,000 leads a day from Facebook Ads. 3,000 a day from Google Ads and 4,000 per day from organic channels such as SEO, Social Media and referrals.

I can also expect to get 5,000 leads a day from my affiliates if I set up a solid affiliate program that rewards affiliates for every lead they bring in.

So here it goes:

  • Facebook Ads – 3,000 leads a day
  • Google Ads – 3,000 leads a day
  • Organic SEO – 4,000 leads a day
  • Referrals – 5,000 leads a day

This is adding up to 15,000 leads a day and it is possible. I would like to keep the target as 15,000 leads a day because even if I achieve this target by 70% I can expect to reach my goal of getting 10,000 leads a day and in 5 years I should be having an active subscriber base of 10 million.

Now let’s look at how many lead magnets I need for this.

If I get 1,000 leads per day per lead magnet, I need 15 lead magnets.

And all the lead magnets need to be strong and valuable for me to generate that many leads.

What are the different types of lead magnets I can offer for my audience? Some of the ideas that comes to my mind immediately are:

  • eBooks
  • Courses
  • Calculators
  • Tools & Apps
  • Resume Generators
  • Job Applications
  • Webinars
  • Contests
  • Giveaways
  • Newsletter Subscriptions

I have already generated more than 1 million leads from my free digital marketing course but I feel that I need more lead magnets to stay relevant in the market.

So I have already started working on the lead magnets and my super talented copywriter is building the landing pages for that.

Creating the lead magnets and driving traffic to it to generate the leads is not the biggest challenge. It takes time and money to set up this funnel and anyone can invest in that.

The question is: how do I make sure that I get an ROI from these leads?

To get an ROI from the leads I generate, I need to first build trust with my leads.

Once I build the trust, I can sell products and services to my leads. Only the sales of products and services will make sure that I get an ROI from the lead generation campaigns and continue the campaigns.

Let’s see how many sales I would need to make sure I can spend ₹60 lakhs a month.

Let’s assume that 40% of the revenue comes from my top of the funnel product. 30% comes from the middle of the funnel and 30% comes from the bottom of the funnel.

  • Top of the funnel product (L1) – 24 Lakhs (40%)
  • Middle of the funnel product (L2) – 18 Lakhs (30%)
  • Bottom of the funnel product (L3) – 18 Lakhs (30%)

Let’s assume that my L1 product sells for ₹20,000, L2 Sells for ₹50,000 and L3 sells for ₹3 lakhs.

Total sales required:

  • L1 at ₹20,000 – 120 sales (0.04% of total leads per month)
  • L2 at ₹50,000 – 36 sales (30% of L1 sales)
  • L3 at ₹3,00,000 – 6 Sales (16% of L2 sales)

Now does this look achievable? Definitely yes.

I want you to see how my brain has given me the ideas starting from a big goal. I have broken it down to achievable steps as I have written this lesson.

Note that for the purpose of illustrating I have not considered any other spends and I have arrived at the numbers only at breakeven metrics with the ad cost.

In a real world scenario, there will be other costs involved and to make margin for other expenses I would be increasing the conversion rate of the sales of my products.

If I make ₹1.2 crore a month in revenue with ₹60 lakhs a month in ad spend, then I would need double the sales.

  • L1 at ₹20,000 – 240 sales (0.08% of total leads per month)
  • L2 at ₹50,000 – 72 sales (30% of L1 sales)
  • L3 at ₹3,00,000 – 12 Sales (16% of L2 sales)

If I have expenses of ₹30 lakhs a month to run my business, I would be making ₹30 lakhs a month in profit. Which is ₹3.6 crores a year in profit. 25% clear profit margin.

Apart from ads, my monthly expenses of ₹30 lakhs can be broken down into the following parts:

  • Tools: ₹10 lakhs a month
  • Team: ₹10 lakhs month (around 15-20 people)
  • Infrastructure, Taxes and other expenses: ₹10 lakhs a month.

A revenue of ₹1.2 crores a month will be giving me a revenue of ₹14.4 crores a year with ₹3.6 crore a year profit.

And if I achieve these many sales then I will be able to generate these many leads – 10,000 per day.

Without a business plan and without a sales funnel, your lead generation campaign will not work.

So start with a goal or a dream and then work backwards from it. Do the math as I have done and you will get Clarity.

I hope you liked today’s lesson. Reply to this email and let me know what you think.

In today’s lesson, I want to talk about goal setting.

I don’t want to come across as a life coach who tries to motivate you in life. Because a lot of “life coaches” try to get you pumped up but then they do not serve any purpose.

I want to be more practical and scientific in my approach.

Though there is no point in wishful thinking and building castles in the air, there are some genuine benefits with setting big goals in life, business, and lead generation campaigns.

When you have big goals and dream big, your approach to a problem will change.

If you want 1,000 leads, you will get it.

But if you want to get 10,000 leads, the approach that you had to get 1,000 leads will not be enough.

You need to think differently.

Long back I had a dream of having 100,000 active subscribers.

As I started nearing that goal, I scaled up my dream to have 1,000,000 subscribers.

Today I have 400,000 active subscribers and I am now setting my goal to have 10,000,000 active subscribers.

That’s 10 million. That’s 1 crore subscribers. More than 1% of the Indian population.

When I set big goals it makes me uncomfortable, but I have to get out of my comfort zone. Without setting big goals, my pattern of thinking about the problem will not change.

If you set a small goal and achieve it, it is a problem because you wouldn’t know what to do next. If you have a big goal and always keep trying to achieve it, it is not a problem because you are keeping yourself busy trying to achieve the goal. And the goal of a good life is to keep yourself busy pursuing a worthy goal and progressively achieving it, one day at a time.

When I dream of having 10 million subscribers, I have to start working backwards from it.

How many leads/subscribers do I need to get per day?

If I get 1,000 new leads a day, that would be 30,000 leads a month and 365,000 leads a year.

At 365,000 leads a year I need to run the campaign for 10 years to get to 3.6 Million and considering that there will be a 20% churn every year, I would have to run the campaign for at least 50-100 years to get to 10 million. I don’t have that much time. I need to up my goals.

If I generate 10,000 leads a day, then I could get 3.6 million subscribers a year and 10.8 million subscribers in 3 years.

Hmm, not bad.

Even if I have churn, I can expect to get to an active base of 10 million subscribers in 5 years.

(If I have to get 100 million subscribers, then I have to generate 100,000 new leads a day. But that’s a dream for another day.)

Let’s keep 10,000 leads a day as the goal because I feel it is realistic.

I am already generating 1,000 leads a day and I have generated up to 3,000 leads a day. 10,000 leads per day is not too far.

If I am paying ₹20 per lead then 10,000 leads a day would cost me ₹2,00,000 per day.

₹60 lakhs a month in ad spend.

Now let’s start breaking down the goal.

10,000 leads a day from a single channel might be difficult.

So I can aim to get 3,000 leads a day from Facebook Ads. 3,000 a day from Google Ads and 4,000 per day from organic channels such as SEO, Social Media and referrals.

I can also expect to get 5,000 leads a day from my affiliates if I set up a solid affiliate program that rewards affiliates for every lead they bring in.

So here it goes:

  • Facebook Ads – 3,000 leads a day
  • Google Ads – 3,000 leads a day
  • Organic SEO – 4,000 leads a day
  • Referrals – 5,000 leads a day

This is adding up to 15,000 leads a day and it is possible. I would like to keep the target as 15,000 leads a day because even if I achieve this target by 70% I can expect to reach my goal of getting 10,000 leads a day and in 5 years I should be having an active subscriber base of 10 million.

Now let’s look at how many lead magnets I need for this.

If I get 1,000 leads per day per lead magnet, I need 15 lead magnets.

And all the lead magnets need to be strong and valuable for me to generate that many leads.

What are the different types of lead magnets I can offer for my audience? Some of the ideas that comes to my mind immediately are:

  • eBooks
  • Courses
  • Calculators
  • Tools & Apps
  • Resume Generators
  • Job Applications
  • Webinars
  • Contests
  • Giveaways
  • Newsletter Subscriptions

I have already generated more than 1 million leads from my free digital marketing course but I feel that I need more lead magnets to stay relevant in the market.

So I have already started working on the lead magnets and my super talented copywriter is building the landing pages for that.

Creating the lead magnets and driving traffic to it to generate the leads is not the biggest challenge. It takes time and money to set up this funnel and anyone can invest in that.

The question is: how do I make sure that I get an ROI from these leads?

To get an ROI from the leads I generate, I need to first build trust with my leads.

Once I build the trust, I can sell products and services to my leads. Only the sales of products and services will make sure that I get an ROI from the lead generation campaigns and continue the campaigns.

Let’s see how many sales I would need to make sure I can spend ₹60 lakhs a month.

Let’s assume that 40% of the revenue comes from my top of the funnel product. 30% comes from the middle of the funnel and 30% comes from the bottom of the funnel.

  • Top of the funnel product (L1) – 24 Lakhs (40%)
  • Middle of the funnel product (L2) – 18 Lakhs (30%)
  • Bottom of the funnel product (L3) – 18 Lakhs (30%)

Let’s assume that my L1 product sells for ₹20,000, L2 Sells for ₹50,000 and L3 sells for ₹3 lakhs.

Total sales required:

  • L1 at ₹20,000 – 120 sales (0.04% of total leads per month)
  • L2 at ₹50,000 – 36 sales (30% of L1 sales)
  • L3 at ₹3,00,000 – 6 Sales (16% of L2 sales)

Now does this look achievable? Definitely yes.

I want you to see how my brain has given me the ideas starting from a big goal. I have broken it down to achievable steps as I have written this lesson.

Note that for the purpose of illustrating I have not considered any other spends and I have arrived at the numbers only at breakeven metrics with the ad cost.

In a real world scenario, there will be other costs involved and to make margin for other expenses I would be increasing the conversion rate of the sales of my products.

If I make ₹1.2 crore a month in revenue with ₹60 lakhs a month in ad spend, then I would need double the sales.

  • L1 at ₹20,000 – 240 sales (0.08% of total leads per month)
  • L2 at ₹50,000 – 72 sales (30% of L1 sales)
  • L3 at ₹3,00,000 – 12 Sales (16% of L2 sales)

If I have expenses of ₹30 lakhs a month to run my business, I would be making ₹30 lakhs a month in profit. Which is ₹3.6 crores a year in profit. 25% clear profit margin.

Apart from ads, my monthly expenses of ₹30 lakhs can be broken down into the following parts:

  • Tools: ₹10 lakhs a month
  • Team: ₹10 lakhs month (around 15-20 people)
  • Infrastructure, Taxes and other expenses: ₹10 lakhs a month.

A revenue of ₹1.2 crores a month will be giving me a revenue of ₹14.4 crores a year with ₹3.6 crore a year profit.

And if I achieve these many sales then I will be able to generate these many leads – 10,000 per day.

Without a business plan and without a sales funnel, your lead generation campaign will not work.

So start with a goal or a dream and then work backwards from it. Do the math as I have done and you will get Clarity.

I hope you liked today’s lesson. Reply to this email and let me know what you think.