In this series of posts, we’re breaking down how to create a sales funnel, the decisions to make along the way, how to track what happens, and how to interpret the results. We’re doing all this so that we can better answer the question “Where should I focus my energy the next time I launch this offer?”
We’ve gone through each individual step of the funnel for your audience coming from social media, and seen where they fall out and where they continue on. We’ve considered what that means at the micro level – now it’s time to zoom out and consider the overall figures.
What were your overall conversion rates?
Now, we’re looking at your sales compared to your audience size to start with – the very last step compared to the very first step. So, we’re trying to answer the question:
- How did my entire process do at speaking to this audience’s needs, concerns, hopes, dreams, and desires?
We divide the number of people who bought your course by your total audience size:
- 2,000 from Instagram
- 1,500 from Facebook
- 3,175 from LinkedIn
Do you see it? If you turn that chart on its side and centre it, you get this funnel:
What does that mean?
Overall, we can see that Facebook did far better at converting. That is, turning audience members (leads) into customers (sales). Even though you started off with the smallest audience there, more of them stayed in the funnel from one layer to the next than either other audience, so ultimately, more of them bought.
This could be because your copy and visuals spoke to that audience best.
This could be because you’ve more carefully cultivated that audience, so it contained more of your ideal clients than the others.
This could be because you used a Facebook group for your challenge, and they didn’t mind using Facebook. Perhaps many of your Instagram and LinkedIn followers actively avoid Facebook.
There are other possibilities. You’ll want to brainstorm it, based on what you know about your own audience, once you’ve worked out your numbers.
Once you’ve worked out some possibilities, you could ask your audience.
You could put out some Instagram stories with polls to try to test the theories you came up with for why they didn’t sign up for your masterclass as much – that was where that audience really fell off a cliff.
You could grow a better LinkedIn audience by pruning any connections who are not your ideal client, whilst connecting with more people who are. Then engage with them and your posting analytics so that you get better reach on all your posts. This could be something you decide to focus on for the next 3-6 months before you launch your offer again.
Or, you could simply focus on your Facebook audience for this kind of offer when you launch again.
You’ll want to check the rest of your audience’s conversion rates before making any decisions, though. It could be that these are paltry rates, and you’d be better served by focusing on other segments of your audience.
We’ll look at how those did in coming posts in this series.
Hi, I'm Sara-Jayne Slocombe, and my mission is to help businesses run better. Everything I do is aimed at giving you the confidence to run your business using the power of your numbers.
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