A Shocking Statistic That’ll Change How You Run Your Business

An Important Statistic To Guide You Every Week

  1. Take your highest-converting sales channel (email marketing and Instagram, are some examples) and figure out what the audience size is in the form of subscribers or followers. Calculate what 3% of that number is.
  2. Once you have that 3% number, calculate 10%-30% (this is your conversion percentage) of that. This gives you an estimate of # of customers converted — where you fall on the 10–30% spectrum depends on how great your branding and marketing is, frequency of competitors, and product-market fit. The better you rank in these categories, the higher your conversion percentage will be.
  3. If you’re not loving the number of sales you’re ending up with at the end of this calculation, work backwards and see how big of an audience you’d need to build for that 3% calculation to create a favorable trickle-down effect on your sales.
  4. Create a lead generation marketing strategy to increase the number of eyes your brand is being exposed to. If you’re not sure about how to tackle this one, read this piece about how to create a brand voice that stands out, and then learn how to make content every week with ease. Even if you’re happy with how big your audience pool is, there will be constant attrition, so you have to stay vigilant at constantly refilling your audience pool.

--

--

I create moneymaking brands with womxn entrepreneurs who refuse to settle for mediocre. www.ascent-strategy.com

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Sophia Sunwoo

I create moneymaking brands with womxn entrepreneurs who refuse to settle for mediocre. www.ascent-strategy.com