Conversion Rates: What Should You Aim for When Selling Digital Products Online?May 12, 2023
Ever watch Shark Tank? The sharks ask all sorts of questions about numbers—how many products have you sold, how many customers do you have, what does it cost to manufacture the product, what’s your profit margin, etc. etc. etc.
If a business owner doesn’t know the answers, the sharks eat them alive.
This might make for good tv entertainment, but knowing your numbers is actually crucial to success in any industry, including digital products and online coaching.
Do you know your conversion rates? What about your click-through-rates, your open rates, your return on ad spend?
What does all of that even MEAN??
In today’s episode of The Inspired Business Podcast, we’re talking all about digital marketing stats. What metrics do you need to know? How do you find the numbers and analyze the data? What’s considered good or bad, and what’s the right benchmark for you and your business?
And, uh… why does it matter?
I’ll answer that last question right here. When you know your conversion rates, you become armed with knowledge that can inform your business decisions. Which means you can optimize your digital sales funnel for the best possible results.
In plain English, that means it’s important to know what’s working and what’s not, so you can sell more products and change more lives with your content.
Want the inside scoop? Check out the podcast episode HERE.
Wondering HOW to go about choosing, creating, and selling a digital product?
Check out my free masterclass:
How to Create and Sell Digital Products (without feeling stupid, salesy, or sacrilegious).