How to Calculate and Improve Your Sales Conversion Rate!
Hey Friend!
Has it been a struggle to calculate your sales conversion? Are your numbers where you want them to be with getting clients from your podcast listeners? Do you want to grow your sales conversion?
In this 15-minute power coaching session with one of my students, we dig into the analytics of her show and look at her superfan stats to figure out what her conversion rate should look like and why it’s not where she wants it to be.
Improve Your Sales Conversion Rate With Your Podcast Listeners
So, how do you get your podcast sales to convert more?
Start by determining your current conversion rate
When we look at conversion, we want to find where the break is. There are different phases of conversion that happen throughout your sales funnel. If we throw spaghetti at the wall we don’t know which phase is actually broken.
First, write down each of your current statistics. As an example, here are my student’s current numbers:
- Total podcast downloads: 4634
- Podcast episodes: 72
- Email list subscribers: 234
- Average email open rate: 19%
- Facebook group members: 280
- Actively engaged in Facebook (typical number of post comments): 10
Next, divide your total podcast downloads (4634) by the total podcast episodes (72), we get the total number of superfans, which for my student is 64. Then multiply the number on the email list (234) by the average open rate (19%) to get 45 superfans from the email list.
Since she has 10 actively engaged on Facebook, we add all three of those superfan numbers (119) and multiply by the desired conversion rate of 1%. She should be getting one to two sales per month. She is getting one monthly sale currently, so she is hitting her 1% conversion rate goal.
Are your expectations in line with your numbers?
Often, clients feel they should be getting more sales than they are currently getting. By calculating this number, you can really determine if your outcome is where it should be and maybe your expectations are just out of alignment.
Since my student is hitting the 1% conversion rate, she is on track. However, she would like to increase it to two sales per month. Therefore, we need an increase in her superfans number. That brings up the big question of what she is actually selling and the messaging there.
Determine if you are marketing properly through your messaging
Questions to ask yourself
- What are you selling?
- What are your 5 pillars?
- How are you selling your product or service?
After you look at what you are selling and the five pillars, it is time to test for 60 days the way you market your coaching or product.
Focus on selling an active solution instead of selling the outcome. Reposition the marketing away from the fluff and towards the solution you are providing. This isn’t changing what you do, it is just changing the way you explain how they get to the outcome that you want them to get to. Go tactical on how you get your avatar there for 60 days.
Grow your podcast listeners to increase your sales conversion by changing the messaging and marketing around what you are selling to be SEO driven. What does your avatar think their problem is? Focus on the solution for their problem.
I pray that you see podcast growth when you implement these tactical tips into your podcast. Focus on the solution and commit for 60 days, and you should see a shift in your sales conversion rate!
If you are ready to monetize your podcast, even more, check out my course Podcast to Profit Mastermind which has helped hundreds of podcasters improve their rankings on the podcast charts, scale their businesses and increase their revenue! Is it time for you to answer God’s call to make an even greater impact? See you there!
I pray this blesses you!
Xo,
Stef
P.S. Listen to podcast episode 471 on how to calculate and improve your sales conversion rate!
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