Shownotes
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Are you constantly feeling frustrated because you're not hitting your client goals? Wondering why other business owners seem to convert more clients than you? This episode is your answer. Today, we're breaking down why your audience size truly matters and how understanding the game of numbers can completely shift your perspective on success. Get ready to align your expectations with reality and set yourself up for genuine business growth
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Ep 194: Accelerating Your Conversion Rate
Ep 244: Effective Launch Strategies for Creative Entrepreneurs
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Transcripts
Are you constantly feeling frustrated because you are not hitting your client goals?
Speaker A:Maybe you look at other business owners and you wonder, like, why do they seem to be converting more clients than I do?
Speaker A:Here's the thing.
Speaker A:You may be setting yourself up for disappointment and not even realizing it.
Speaker A:In today's episode, I'm going to break down exactly why your audience size matters and how understanding the game of numbers in your business can completely shift your perspective on what success actually looks like.
Speaker A:All right, you ready?
Speaker A:Let's dive in.
Speaker A:Hello.
Speaker A:Hello.
Speaker A:All right, today's episode is going to be super short because it's just.
Speaker A:I just want to give you guys a little like, tidbit here.
Speaker A:So if you've been a podcast listener of mine for a long time, this is going to be similar to when podcast was branded as strategy and small doses.
Speaker A:But really it's more about this whole episode is really just about making sure that your expectations are in alignment with the reality of your situation.
Speaker A:Okay.
Speaker A:And what I mean by this primarily is in the number of clients and or conversion, like really understanding the game of numbers in your business.
Speaker A:Okay.
Speaker A:And I know that people don't like to look at this or talk about this and but here's the reality of it is like at some point you have to really understand the game of numbers because without taking a look at it or understanding it, you are setting yourself up with expectations that are not realistic.
Speaker A:Okay?
Speaker A:And so a good example of this is I was working with a client recently inside the Focus Visionary in Accelerator, which is now Evergreen, by the way.
Speaker A:Oh my gosh, I'm so excited about that.
Speaker A:And I really like, seriously, go click the link in the show notes please.
Speaker A:Just like go check it out.
Speaker A:Like, I'm just excited about the fact that it's there and available and I'm out of launch mode.
Speaker A:So for those of you side note, if you do not enjoy launch mode either, or like being in this like launch seasons all the time, if that's very draining to you, like, I'd be happy to chat with you about why I shifted to Evergreen and like the pros, the cons, the ups, the downs, et cetera.
Speaker A:So here's the thing though.
Speaker A:So inside of the Focus Visionary Accelerator, step one is know your facts, right?
Speaker A:Like it is a non negotiable.
Speaker A:It's step one for a reason because it sets the groundwork and the foundation for everything else that you are doing in your business.
Speaker A:And it also really allows you to see facts for what they are and removing the emotion around it.
Speaker A:And so What I'm talking about is balancing expectations with real, like reality is specifically in conversion and like understanding your audience size and understanding that like the number of clients that you're expecting or you're.
Speaker A:The number of clients that have come into your world are a direct relation to your audience size.
Speaker A:Okay, so from what I am seeing, a couple of people that I've been working with is I've been reviewing their worksheets is that their audience size is very small, right?
Speaker A:So their email lists are small because it's just not something they prioritize.
Speaker A:Their social media followers, there's like less than a thousand.
Speaker A:They don't necessarily email their list on a regular basis.
Speaker A:Right.
Speaker A:They have some really great referral partners, etc, but for the most part the number of people in their world is like less than 500.
Speaker A:Okay, so in understanding that, right, like, if you can look at it from that perspective and know that like out of those 500 people, what is it like?
Speaker A:I think they say like on average 2% see your social media posts.
Speaker A:Right.
Speaker A:So what's 2% of 500 is what?
Speaker A:I don't even, like, let's do the math here.
Speaker A:2%.
Speaker A:500 is what, 100 people?
Speaker A:No, 10 people, right?
Speaker A:2%, yeah.
Speaker A:500 times 2% is 10 people.
Speaker A:Yeah, duh.
Speaker A:Okay, 10 people, right?
Speaker A:So like, if only 10 people are seeing your stuff, I mean, even if you double that and it's 20 people and now you have, that doesn't mean that all 20 of those people are warm leads.
Speaker A:Like, that just means 20 people are in your world seeing your stuff, right?
Speaker A:So from those 20 people, maybe only 10% of them are warm leads, which is two or.
Speaker A:Oh my gosh, why can I not do math today?
Speaker A:Probably because I'm recording this episode in the evening.
Speaker A:My brain is absolutely fried.
Speaker A:But like, I've seen this so much that it was like, I have to do this episode and I really wanted to get this out to you guys.
Speaker A:But anyway, so you got 10% of those 20 people that are seeing your content, right?
Speaker A:That's two people.
Speaker A:That's assuming two of those people are warm leads.
Speaker A:Right?
Speaker A:Now if you have a 50% conversion rate, great, you've converted one person.
Speaker A:So if you converted one person and you expected five, right?
Speaker A:Like, let's just say you have this expectation of like, I'm going to get five new clients from this said thing.
Speaker A:Well, and then you only get one, then you're disappointed.
Speaker A:But in reality, you didn't have enough warm leads to even get to five.
Speaker A:Hopefully this is not confusing.
Speaker A:And I don't want this to end up being like an episode where it's like super ranty or like you can't follow along, right?
Speaker A:And that's why I want to keep this one short.
Speaker A:But my, my whole point here is that look at your audience size and then be realistic about your expectations of conversion into clients based on your audience size, look at your lead generation activities and then be realistic about what is converting, right?
Speaker A:If you're not having any conversations, if you're not getting on sales calls, if you're not doing any type of marketing aside from referral marketing with your five people that are really good friends of yours, well then how do you expect to convert 10 clients?
Speaker A:And this is not to shame you, this is not at all to make you feel bad.
Speaker A:This is to help you understand that, like to be proud of and understand that based on the game of numbers, you're right on track, right?
Speaker A:So like if you have an audience of 500 and you converted one person and all you're doing is social media marketing, right?
Speaker A:Like you're only posting on social media and from that you converted one person, well, guess what?
Speaker A:Like, that's pretty freaking damn good because that is in alignment with the average of conversion and understanding who's seeing your content, how many people are engaging with it, right?
Speaker A:And like just understanding that.
Speaker A:So like, if you converted two people, like, you're doing really good, you know.
Speaker A:And so I just want you to understand that especially as we go into a new year and you're starting to set your goals and you're looking at different things and like just being mindful of the game of numbers.
Speaker A:So even, like I'll give you an example for a webinar, you know, I did, or a master class webinar, master class, workshop, whatever you call it.
Speaker A:I did a workshop last year and I had like 50 people registered for it, full transparency.
Speaker A:And like nobody converted.
Speaker A:And I was like, well, this is really odd.
Speaker A:Like, how do I have 50 people?
Speaker A:Like, I would have expected, expected like at least a 10% conversion rate, all right?
Speaker A:But I got zero.
Speaker A:But when I looked at it and I looked at the facts of it from those 50, I think I've talked about this before, like 18 of them were already clients or have done business with me some way, shape or form or fashion in the past, right?
Speaker A:So they were already paying clients.
Speaker A:The other 10 people were, there was like 10 warm leads, like people that knew me and had been in my world before and seen one of my workshops, shops attended One of my events and then the rest of them were like cold leads.
Speaker A:People I didn't know, people who have never been exposed to me, people who really have probably never seen my content, right?
Speaker A:So when you look at it from that perspective, well, when you're working with a bunch of cold leads, then you have to warm them up, right?
Speaker A:Like this is just step one.
Speaker A:And you all know there's so many steps into warming up a lead.
Speaker A:So, so that's where I'm just saying, like, be mindful of your expectations and just keeping it in check with reality and understanding that there is a level of numbers.
Speaker A:It's a game of numbers in business, right?
Speaker A:And like you have to be really clear on your audience size, your engagement size, right?
Speaker A:Like so even looking at somebody that maybe has a list of 2,000 people, but if they only have like a 20% open rate, well, of those 2,000 people, like only 400 of them are seeing it.
Speaker A:And so you know, when you look at it like that, it's like, oh well, I should be converting at this rate or whatever.
Speaker A:And it's like, well, not really because you really only have 400 people engaged.
Speaker A:And then of those 400, how many of you actually had a conversation with or how many of them are just cold leads, right?
Speaker A:Like are they clicking your stuff?
Speaker A:Have you ever talked to them?
Speaker A:So I think that's really what I just want you to keep in mind.
Speaker A:And remember, as you move into the new year and as you're setting, just don't set yourself up for disappointment if it's like quite literally not even possible for you to hit these expectations that you have, right?
Speaker A:And these expectations, a lot of times come noise in the online space and things that we, you know, we are comparing to somebody else.
Speaker A:When you don't have all the data, you don't have all the facts.
Speaker A:You have no idea what their audience size is, right?
Speaker A:You have no idea how much time they spend nurturing and warming up their leads, right?
Speaker A:Like there's just so many things that go into this.
Speaker A:So be mindful of it, right?
Speaker A:And so if you have any questions, reach out to me and let's talk about it, right, let's talk about it.
Speaker A:If you really want to dive in and really get a a handle on it, this is where the focus visionary.
Speaker A:This is why I created that.
Speaker A:To really help business owners see and understand their business for what it is to see exactly what is happening and be able to make those data driven decisions.
Speaker A:And so it's not to scare people away from data.
Speaker A:It's like looking at it and seeing like, wow, I've got a hundred people in my audience and I've worked with 10 of them.
Speaker A:That's pretty frigging amazing.
Speaker A:So, like, if I doubled that, I'd be hitting my goals, right?
Speaker A:And just knowing and looking at it from that perspective without the emotion attached to it will really allow you to set yourself up for success and not disappointment.
Speaker A:Okay.
Speaker A:All right.
Speaker A:I love you.
Speaker A:I believe in you.
Speaker A:I'll talk to you soon.
Speaker B:Thanks so much for listening today, but remember, now it's time to take action.
Speaker B:My goal is to get you results.
Speaker B:So what is one action you can commit to taking this week?
Speaker B:Feel free to share it with me in my DMs or tag me on your socials.
Speaker B:Not sure what action to take?
Speaker B:Grab the link in the show notes and schedule a strategic power hour.
Speaker B:We can talk through it together and get you a strategic plan of action in just 60 short minutes.
Speaker B:Oh, and one last favor.
Speaker B:As with every podcast, reviews and ratings are what help us continue to show up and grow.
Speaker B:So if you wouldn't mind, please take a quick minute to leave a five star review on Apple or Spotify and share this episode with a friend.
Speaker B:Thanks.
Speaker B:Talk soon.
