Beyond the Vanity Metrics

Tired of obsessing over metrics that don't translate to actual revenue? This eye-opening episode cuts through the noise of vanity numbers to reveal what truly matters for your business growth.

Social media followers, engagement rates, and reach statistics might make you feel good momentarily, but they rarely correlate directly with sales. Unless you can definitively trace how specific metrics convert to revenue, you're likely focusing on the wrong numbers. The key lies in understanding where your potential customers are in their journey when they encounter your business.

Consider this: a basic guide or entry-level content might attract beginners who could take a year or more to convert to your advanced product or service. Meanwhile, creating content for people further along their journey might result in much faster conversions. Your tracking methods must reflect this reality. Using dedicated links or specific URLs for different initiatives allows you to see exactly which sources generate not just traffic, but actual customers.

Your product suite should align with different stages of the customer journey. Having offerings at various price points and complexity levels serves customers wherever they enter your world. Some might start with a foundational product before upgrading to your premium offering, while others might skip straight to your high-ticket product because they're already advanced.

Ready to make sense of your numbers and transform visibility into actual sales? Join our "Turning Visibility into Sales Challenge" happening October 6-10. You'll discover frameworks and strategies to focus on metrics that actually drive revenue growth, helping you stop wasting time on activities that might boost your ego but do nothing for your bank account. Check the show notes to register!

Chapters

• 0:01 Why Numbers Matter for Business
• 1:08 Understanding Your Customer Journey
• 2:44 Tracking Conversion Rates Effectively
• 4:51 Tailoring Products to Journey Stages
• 5:31 Challenge Announcement

Transcript

Speaker 1: 0:01

Many of you despise numbers or when you are tracking things, you don't know how to actually interpret what you are tracking. And that is a huge problem because in order to understand the numbers, you have to know what your ultimate goal is with the product, with the sales of your products and services. So when you are doing this, we have to really dive deeper into those numbers, understand what actually matters. So many of you that listen to me and have been with me for a while know that I believe social media numbers, follow-on numbers, engagement numbers, reach all that crap means absolutely nothing towards your sales. It just doesn't, unless you have a proven strategy that you can say back to me. Actually, when I get this much reach on a post, this converts to this many sales, and there's very few people that I work with or even research and educate myself by that I believe could do that. So when we were starting to think about what are the numbers that actually matter, well, it matters where they are coming from. What are they opting into? Are they opting in to a guide? Is it the beginning stage of your funnel? Is it the more easy material, maybe baby stages of where you're trying to take your customer journey along to in order to need your product or service. And if that's the case, you have to know that a guide that's more basic on what you are teaching isn't likely to convert as high if your product or service is more advanced or it may take a while for them to get to that point. Now a difference might be a webinar, a free workshop, a free challenge, anything that they are opting into. From that that you may see a direct correlation to, and if you can take those numbers and understand what is actually moving the needle on your business, you're going to stop wasting time on the things that don't matter and actually do the things that do matter. You're going to start focusing on promoting and creating content that gets them further along on their journey. So maybe it is. If your product is more advanced, you can take them from the beginning of the journey, but you have to understand that that could take at least a year to get someone to convert. So if you want to meet someone at a further down in your funnel kind of point, you have to make sure that you're creating the content that is meant for them so that they can convert faster into your product or service.

Speaker 1: 2:55

Now, as we are looking at this, you may be thinking to yourself well, I don't really know my customer journey. I need you to look at that. I need you to figure out where are they coming to you, where does your product serve them at, what level are they at and what are the pain points that are going to get them to that point? Last week, we talked about messaging. Messaging is so important. In order to get your messaging correct, though, you have to understand your customer. So if you haven't really dove into the customer journey for your people, I need you to do that. You can go into the podcast. You can go to my website. Just type in up at the search bar customer journey and you'll get multiple episodes on this, because there are pieces that you have to provide them with in order to move them along the customer journey faster, and you have to know where you are hitting them at.

Speaker 1: 3:50

So if you are really starting to think about how can I make sure that my numbers are making sense to me because I have all these great things, well, I need you to look at the conversion rate. I need you to look to see okay, you did a summit. Well, I need you to look at the conversion rate. I need you to look to see okay, you did a summit how many people subscribe from that summit now, in order to do that, you have to have some way of tracking it. So, whether you're using a pretty link, whether you're using a specific url just for those people at the summit, you have to understand that so that you can start to understand. If I'm going to be speaker at a summit, I I want to make sure that that summit meets, has the people, has the audience that I need that are further along in their journey. So maybe you're not going to do a basic summit that is going to get them started. If you're looking to make conversions right away, sales right away, you could be looking to do a basic summit if you're okay with letting them sit on your list for a year. But if you're looking to move them along faster, then you're going to want to make sure that the summit has the right audience for that. That is going to be key when you are looking at whether or not the things that you are doing is benefiting the right people.

Speaker 1: 5:04

What is your bread and butter product? What are you known for? Do you have something? Do you have a product suite. Are there additional products that you could serve to them when they are more basic? And if that's the case, you have to develop that funnel for them to get them to the point of going to your premium product. There will be some people that will skip it, but, again, if they're skipping it, they're likely more advanced. So you're going to find that they were further along in their journey than someone that came that was basic, that might've bought a more basic product that you have rather than a premium product. Now, if this is something that you're shaking your head going I don't know my numbers, I don't understand what or how I'm going to use them You're going to want to make sure that you join in on the turning visibility into sales challenge. It is October 6th through the 10th. We are going to link to it right in the show notes that you can make sure that you get yourself signed up. I'll see you there.