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34 | Conversion Rates: What Should You Aim for When Selling Digital Products Online?
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Conversion rate, click-through-rate, open rate… lions and tigers and bears, oh my! What’s the deal with all these digital marketing stats? What’s considered good or bad, and what’s the right benchmark for you and your business? In this episode, we’re talking about the metrics you need to know and how to analyze the data so that you can optimize your digital sales funnel for the best possible results. In plain English, that means know what’s working and what’s not, so you can sell more products and change more lives with your content.
Highlights:
- What is a conversion and why should you care
- Email open rates: 30% is average; aim for 50%
- Email marketing sign-up and sales conversions
- Lead magnet conversions: I say 50% minimum
- Tripwire conversion rates: too many variables for a standard
- Successful tripwires depend on relevancy and price
- Bump offer conversions: expect 50% conversion rate
- Two-tiered offers and the psychology behind “this or that”
- Facebook ads click-through rate: aim for 1% to 3%
- Facebook ads return on ad spend (ROAS): aim for minimum 1.5
- Let your data, not your emotions, inform your decisions
Resources mentioned in this episode:
Workshop: The Truth About Webinars
The Inspired Business Guide Bundle
Episode 15: Does a Digital Sales Funnel Really Work on Autopilot?
Are you a digital marketing genius? Take our quiz to find out!
Plus watch our FREE masterclass: How to Create and Sell Digital Products Without Feeling Stupid, Salesy, or Sacrilegious
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