Bonus #25

Ellen Yin18min

Ellen Yin

00:06

Hello, Hello friends, it's your host, Ellen Yin. Welcome back to another bonus episode of cubicle to CEO, the podcast where we ask successful entrepreneurs, the business questions you can't google. This is actually our 25th bonus episode, since we started implementing this at the beginning of the year. So that's pretty exciting. And you'll notice that in the last few bonus episodes, we've expanded on the case study that we cover in our Monday interviews. So I thought I would continue with that this week, just because I have something that I can add to the conversation that I had with Sarah and Annette.

Ellen Yin

00:44

If you haven't yet listened to their episode, make sure you tune in first. But in essence, we talked about how they added urgency to their free workshop funnel in order to increase their funnel conversions by 50%. And this type of funnel, this free workshop funnel, also commonly known as a free webinar funnel, a free masterclass funnel, a free training funnel, it could be any one of those things, it's just when someone opts in and gives you their email in order to access a recorded training, if it's evergreen, or live training if you're doing it live. And then at the end of that free training, typically you are inviting somebody to join your program. So it's a way to sell someone into your program. And this is a funnel that we're quite familiar with.

Ellen Yin

01:31

We had an evergreen webinar funnel for almost three years. And so you know, we did a lot of tweaking and testing and improvement over that time, just like Sarah and Annette are currently still doing in their business. So I wanted to add in a few additional things that we didn't get a chance to cover in their case study but are things that we have tried in our own free workshop funnel that has helped improve conversions in case that is a funnel that you are currently using in your business or planning to use in the future.

Ellen Yin

02:04

So the first thing, if you remember, Sarah and a net had clarified that the way they track their funnel conversions, they are looking at the number of people who buy their program out of the people who are leads, and they count a lead as anyone who obviously opts in gives their email to access the training. So if you're looking at webinar conversion rates, and let's say they say we have a 2% conversion rate, that means for every 100 People that opt in to watch the free workshop, two of them end up becoming a customer. So 2 divided by 100 is 2%. So just keeping that definition in front of mind.

Ellen Yin

02:47

And with that, one way that we really saw the higher conversions right from lead to sale is increasing the number of people who actually watch your workshop or watch your free training your free webinar or free masterclass, however you want to call it we call it a masterclass. I'll just refer to it that way. And this is really key, but often missed by people, because we're so focused on top of funnel, right, we're so focused on how can we get more traffic to our webinar, Masterclass registration page, so that we can get more leads that we can get more email opt ins, we're so focused on that top number that oftentimes we're missing the mark, especially if you're doing this evergreen, if you have a recorded training that people are opting in to watch, we often miss the fact that many, many, many of the people who are opting in, never actually end up pressing play on the training for whatever reason, or maybe they watch the first few minutes get distracted and never come back to it. So if they're not actually watching the full training, how useful is that workshop or that masterclass really, in converting someone from a lead to a sale?

Ellen Yin

04:00

It's not useful at all right, if they're not actually consuming the content. And so this was something that we really started to zero in on and thinking, Okay, we get a really steady or I say we get I should say this in the past tense because we no longer have this webinar funnel. But this is fairly recent, like within the last year, right that we retired it so we got a really steady stream every single month of new webinar leads. But that was the drop off that we realized was creating a huge issue for us in terms of conversions, the fact that people weren't actually sticking around to watch the entire thing. So one way that we started getting more people to actually follow through on watching the free masterclass that they had signed up for is on the registration form. We added in an optional fields where someone can enter their Instagram handles so the required fields were their first name and their email address. When you're thinking about creating opt in forms, you really want to lower the barrier error to entry. So the less questions you ask, the more likely someone will actually complete the form. That's why we only ever require first name for most of these registration type of form.

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