Setting Your Campaign Goals
In this lesson, we need to talk about all the goals you need to set so that you can figure out, did this campaign work? Didn't it work? Why did it work? Why didn't it work? What can I do differently next time? So we're gonna both talk about setting goals and analyzing your results. The real question we're trying to answer here is, just how much marketing do you have to do to get your offer sold? How many blog posts do you need to write? How many podcast episodes do you need to do? How much advertising do you need to do? How many phone calls do you have to make? How many affiliates do you need to work with? How much marketing is going to be enough to make you feel like this campaign was a rip-roaring success? Well the truth is that you can't know if the only goal you're looking at is your sales goal. And this is the problem that most small business owners are running into, is that the only goal they have is saying I want 30 buyers, I want 10 buyers, I want a hundred buyers. What are you...
gonna do to find a hundred buyers? What are you gonna do to find 20 buyers? Well, the good news is that each piece of your campaign presents and opportunity to set a goal. So with each step you take, each blog post you put out, each lead generation offer you create, each pitch, there should be a goal associated with it, because each step of that campaign is gonna concentrate the number of people most likely to buy, and you wanna know, by the end of that campaign, you have enough people who can buy your offer. And so I'm gonna, I know that in the last lesson I started sharing some really happy numbers about how you might be able to double your sales just by following up with people. Today, in this lesson, I might have some sad numbers for you. (audience laughs) It might be of a bit of a reality check. But better to have that reality check now than at the end of your campaign, yes? Alright, let's take a look. This is our handy-dandy little guideline here, or our handy-dandy diagram, I should say, and I've added some numbers. Now these numbers are based on a certain type of product and a certain kind of guideline, and this is not the same numbers that everyone's going to have. However, I think this is gonna be pretty common for a lot of you. If you sell a high-touch service, if you have super high close rates on your sales calls, we can talk about how to change these numbers up a little bit, but for a lot of you, these numbers are gonna be pretty accurate. So let's start at the end. To get two buyers, I'm gonna guesstimate you need about 14 prospects to see your offer. That's about a 5% close rate, I think, if I remember the math that I actually applied to this. (laughs) So you're gonna need about 14 people who are actually engaged in that offer. To get 14 people really engaged in that offer, you're gonna need about 90 leads. To get about 90 leads, you're gonna need a thousand impressions of your pre-launch content. Or your early campaign content, your blog posts, your Facebook Lives, your Instagram posts, your interviews. And those are like real eyeballs, not just the three second views that Facebook tells you about on those videos, guys. We're talking about real, engaged impressions. So a thousand impressions, generally turns into about 90 leads, generally turns into about 14 prospects, generally turns into about two buyers. Yeah, reality check? Does that sound about right to you guys too?
Yeah? Yeah. Reality check, sorry. Okay, let's look at this by the numbers, then. Goal-setting guidelines. About 1-3% of your prospects, and I'm calling prospects, here, just to clarify, your prospects are the people who have heard the pitch and received the follow-up who are actively engaged in the sales part of the process. About 1-3% of those prospects will buy. Sometimes you may have an offer that regularly gets 5%, 10%, 15% conversion rates for your prospects. Some people have more than that. But if you have a close rate, say, north of 15%, it's probably 'cause one of these other numbers is a lot lower. So it's all gonna work out in the wash, here. So 1-3% of your prospects are going to buy. 15% of your leads, people who opted in as interested, people who raised their hand and said, me, please, will hear the pitch. Hear the pitch is relative, so that could be click on the link to your sales page, it could be stick around to hear the pitch in your webinar. I'm gonna say it's about 15%. And about 10% of the impressions, in other words, people who see campaign-related content, will become a lead. And that number might even be on the high side. I'm opting on the high side here, I'm being a little optimistic. The other ones are a little pessimistic. (laughs) Okay, so 10% of the people who see your content are actually going to raise their hand and say, yes, please, me, to whatever problem or solution you're presenting in your lead generation offer. About 15% of those leads are going to actually engage in your pitch and your follow-up. So that brings that number down even smaller. And then of those people, those prospects who are in engaged in your sales pitch, only 1-3% of them is going to buy. That means for every one buyer you want, you better be aiming to have a hundred people see your sales page. Again, if you're doing sales conversations, if you're getting on the phone with people, that number's gonna be much, much higher, it might be 40%. So you might need to make three phone calls for every one buyer. But then probably your leads are also a lot smaller. Right? Michelle and Lacey are shaking their heads, like yes, that is in fact the case, I can close people when I get them on the phone, it's getting them on the phone that is hard. Yes, okay. (exhales) Deep breath, everybody. (audience laughs) So let's look at this with an example of numbers that are a little happier, like closer to what your actual goals might be. So if you want to have 20 people buy your product, maybe it's an online course, maybe it's a group program that you're offering, maybe it's a high-end art offer. Maybe it's photography. You wanna have 20 buyers for the whole year, you wanna have 20 buyers for this wedding season. You need to have about 140 prospects, people who are engaged in the pitch who are seeing the offer in its entirety and receiving the follow-up. That equates to about 900 leads. And that equates to about 10,000 impressions. The important thing is that we know that this is, in fact, the case, because that's going to impact your actions. If you need to get 10,000 impressions of that early campaign content, what are you gonna do? You're gonna make more content, you're gonna get it in more places, you are going to take the action that it actually requires to get those 20 buyers. If you don't know these numbers, you're not gonna take the right action, and you're gonna be disappointed at the end of the campaign no matter how well it is structured. Now, I've mentioned this a couple times, but I want to say, officially, in black and white, these guidelines can vary wildly depending on your business and the kind of campaign that you're running. These numbers are pretty safe for me, they're safe for a lot of people in this room, they're safe for a lot of people listening in at home. But, at the same time, I've run campaigns where I can get a 50% close rate. I've run campaigns where I had an 80% close rate. But I only had a very small number of leads from a very large audience when I've done that, because it's highly, highly, highly targeted. So it is very worth looking back over your own data to come up with your own guidelines. The best guideline that you can create for your campaign so that you can set goals is your own data, that's your best source of information. And that means looking at your last campaign and saying, how many buyers did I have? And where did they come from? How many prospects actually engaged with the sales pitch? Where did those prospects come from? How many leads did I actually have? And where did those leads come from? In other words, how many impressions did I get? So if you have been in business any period of time, if you've gone through any kind of campaign, not just the kind of campaign that I outlined here. You don't have to look at just this, hopefully this kind of campaign, the idea is that it gets you better results than what you've had in the past. But start with where you've come from. Look at your last few campaigns, the last few times you've sold something, and just run the numbers. This many buyers came from this many prospects, this many prospects came from this many leads, this many leads came from this many impressions. Those are the numbers you need to know to be able to analyze whether things are on track or off track, and what you need to change to get things where you want them to be.