Drive course sign-ups and memberships with these data analytics insights
Published Date: 26 Jun, 2024 | Updated Date: 10 Aug, 2024
Discover how these data analytics insights helped real client businesses at The Digital Navigator. Learn proven strategies from real-life stories to optimize your marketing efforts and drive course sign-ups and memberships.
Think you’ve tried everything when it comes to increasing course sales and membership sign-ups?
It might be time to revisit your current data analytics system to improve your sales strategy!
Table Of Content
- Introduction
- How to use data analytics insights to help grow your business
- Client Story #1: How data analytics can increase ad conversions in online business
- How we used data analytics insights for more course and membership sign-ups
- Client Story #2: How data analytics insights can help you customize your site for higher conversions
- How we set data analytics goals for more course and membership sign-ups
- 9-Step Checklist to Improve Your Data Analytics and Increase Course and Membership Sales
- Why is traffic segmentation so important?
- How do I calculate the cost per acquisition?
How to use data analytics insights to help grow your business
The truth is, your data analytics can give you so much more than suggested keywords for your next email campaign.
With a little creativity, you can actually transform your course sales and membership revenue with the valuable insights you’ll gain about user behavior online.
And since making data-driven decisions is becoming more and more essential to grow a course sales or membership site business…
…I wanted to illustrate just how powerful data analytics can be to small businesses through two real-life client stories from The Digital Navigator.
Then, I’ll make sure you’re maximizing your data analytics potential with actionable insights to improve your data analytics strategy with a focus on course and membership sales.
Let’s get started!
Client Story #1: How data analytics can increase ad conversions in online business
With a monthly ad budget of $25,000 to $50,000, a top client of ours in the membership site space came to us with a struggle: They needed to determine whether their leads were actually converting into paid memberships.
Although successfully managing multiple ad campaigns across platforms like Google, Facebook, and Instagram that brought them revenue, this client didn’t have robust data analytics in place.
As a result, they couldn’t tell where the leads came from or make informed decisions about their overall marketing strategy.
Without access to data about what ads were working better than others, they even questioned whether their advertising efforts were truly impacting their business revenue!
The Problem
Limited resources to track the conversion of leads into paying customers, and little to no information on .
So what can business owners do to make sure their marketing and advertising efforts are truly impacting their revenue?
The Solution
Improve analytics by setting specific goals and gathering results to understand user behavior and conversion paths.
How we used data analytics insights for more course and membership sign-ups
When faced with a neglected data analytics process, The Digital Navigator applied our proven 5-step approach to revitalize analytics research and ultimately upgrade ad revenue:
- Export data for correlation analysis
- Install advanced analytics system
- Track membership purchases
- Create entry page point analysis
- Confirm ad campaign profitability
Here’s how it all worked out for Client #1!
1. Export existing data for correlation analysis
You can’t begin analyzing data without the actual data points, so our first step was to export important data from all this client’s lead form submissions and compare it to existing customer data.
Through a process of matching names and emails, our team identified which leads had converted into paying customers. We then analyzed the volume of these leads and customers over two different time segments: 7 and 14 days.
From there, it was simple to generate visual graphs to show a correlation between lead growth and subscription revenue growth—but correlation is not causation, as any good researcher knows.
The plan? Gather more precise data with an improved analytics system.
2. Install advanced analytics system
As with most of our marketing clients, we next installed our private analytics system on the client’s website (with their permission, of course).
We then accumulated four weeks of strong, nuanced data to support a more thorough review at the two and four-week marks.
3. Track membership purchases
With all the data points we’d collected so far, our team at The Digital Navigator configured a specific goal in the client’s analytics dashboard to track membership subscription purchases.
This goal-setting process is ultimately what enabled us to gather enough data on how traffic was being led to subscriptions through current ads and marketing funnel campaigns.
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What was interesting about this goal, however, is the way we focused on the pages users interacted with, and the interactions they took before making a purchase.
When we then isolated that data to show only the activities of those who ended up purchasing a subscription, we revealed what webpages (and therefore, ads) were most active in bringing in leads and conversions.
4. Create entry page point analysis
When we isolated the data and filtered it by the subscription membership purchase ‘goal’, we effectively created what’s called an entry page point analysis.
This is a critical aspect of your data research, as it will provide a direct understanding of what pages are being visited by those who eventually buy a subscription as opposed to general user behavior.
In this case, our report revealed that between 34 and 49% of subscribers initially entered the site via the landing page that had been linked in the ads!
5. Confirm ad campaign profitability
Finally, this client had confirmation that existing lead acquisition efforts were directly leading to paid subscriptions.
All that was left for us to do was track the number of paid subscriptions and determine the cost per acquisition to make sure these lead acquisition efforts weren’t just working…
…but actually profitable.
And since we confirmed that the advertising efforts by this client were indeed making them money, it was simple to coordinate an ad budget and strategy that would lead more traffic to the high-performing landing page, and ultimately convert more prospects into membership and course sales!
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The Result: Validated landing pages and high-impact ad campaigns from data analytics insights
By identifying key pages and optimizing them based on client behavior metrics found in the data, our client could focus more of their efforts in improving those areas instead of navigating in the dark.
And since we were able to gather and analyze data that was crucial in validating the effectiveness of this client’s marketing strategies, they were able to better allocate future resources without overspending.
In sum, data is invaluable for membership and course-based businesses. It leads you to a greater understanding of how to drive growth and pivot if certain efforts aren’t yielding results.
It also helps you identify which tactics have been successful so you can double down with confidence, knowing these efforts are more likely to positively impact your bottom line.
But that is just one true-to-life example of how implementing effective data tracking and analysis can secure your bottom line.
Let’s take a look at one more story, and then we’ll explore a process that you can adopt today to build up your data analytics and use key insights to maximize your ad spend.
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Client Story #2: How data analytics insights can help you customize your site for higher conversions
Another client of ours had a solid marketing funnel in place for their paid membership and subscription purchases, and it was definitely drawing in leads—which is great!
However, we always advise our clients to use their data analytics to refine existing marketing funnels. You don’t want to let your landing pages sit idle for too long without an update, since it can affect your search engine visibility.
That’s why we also recommend you set up a schedule for landing page optimization throughout the year.
Still, without good data analytics and a proper optimization system in place, you won’t have as many insights into your customer’s mindset before they complete a purchase, which can lead to a slump in course and membership sales.
The Problem
Undefined data and research goals for engaging new and existing leads through existing marketing assets.
So what can business owners do to make sure they’re maximizing existing assets before diverting resources to create entirely new ones?
The Solution
Set a specific, defined goal for tracking purchases to focus on the activity of the users who completed the goal. From there, customize the marketing funnel to further draw in like-minded leads.
How we set data analytics goals for more course and membership sign-ups
When confronted with unrefined marketing goals, The Digital Navigator went to work isolating customer data to determine how traffic was leading to subscriptions, including user interactions and actions taken before purchasing a subscription.
Using just two of the steps we implemented for Client #1, our marketing specialists were then able to provide Client #2 with specialized insights and next steps to convert even more leads with a marketing funnel that was already on-hand.
As a result, they were able to generate more effective landing pages and value-added content without overspending on content creation (or ads).
Here’s how it all worked out for Client #2:
1. Set a goal and analyzed relevant entry page reports
As I mentioned, The Digital Navigator’s marketing specialists quickly set to work focusing on the entry pages of users who purchased subscriptions rather than general entry pages.
This approach provided our team with those critical insights we talked about before, which can tell us exactly the first steps users took on your website that eventually led them to make a purchase.
Best of all, we were able to gather this data relatively quickly to help our client iterate according to their set schedule.
2. Calculated cost per paid membership
Using the data they had just collected, our specialists crunched the numbers to calculate the cost per paid membership that had been sold.
As with Client #1, our marketing team was able to confirm which paid advertising campaigns were the most profitable, which allowed us to confidently recommend next steps for the client’s marketing strategy.
It also allowed us to support the customization of the client’s subscription and membership site as they used the data to articulate the management of their next set of page updates. This helped them feel equally confident that their efforts would drive real market value for their business!
The Result: Defined marketing funnel strategy from customer behavior based on data analytics insights
When you know what brought your existing customers to purchase a course or membership from your website, you also know what’s more likely to inspire others to do the same.
And when you can cater to the needs and desires of your customers through valuable, conscious content that provides real solutions to their problems, you’re much more likely to increase course and membership sales in the long-run, without spending more on content creation and ads than you need to.
In sum, membership and course-based businesses have a lot to gain by specifying research goals through data analytics.
In both cases, we’ve seen just how much benefit there is to making informed decisions when it comes to your bottom line.
So what can course and membership business owners like yourself do to make sure they’re using data analytics to increase subscription, course, and service sales?
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9-Step Checklist to Improve Your Data Analytics and Increase Course and Membership Sales
Based on how The Digital Navigator team has approached different data analytics projects over the years, I’ve compiled a list of 9 actionable steps that any course creation, coaching, membership site, or spiritual teaching business owner can follow to increase product sales:
1. Implement a comprehensive analytics system. Ensure your website has a robust analytics system installed, like Google Analytics or a customized solution like the one we offer at The Digital Navigator. This system should be capable of tracking detailed data related to the specific goals you will set.
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2. Set clear goals for your next campaign. Define specific, measurable goals that impact your revenue, such as tracking paid subscriptions, course purchases, or consultations.
3. Ensure goals are set up in your analytics system. Configure your analytics system to track detailed interactions, including traffic segmentation based on UTM marketing values and traffic sources, page visits, and user actions leading to goal completions (e.g., subscription purchases).
Why is traffic segmentation so important?
Traffic segmentation based on UTM marketing values and traffic sources is extremely important as it allows you to see the contribution of Google Ads, Facebook Ads, Instagram Ads, Search traffic, and more. It also helps create a deeper understanding of ad groups to support specific analysis goals.
4. Capture data and deploy initial data analysis. Export data from all lead form submissions and compare it to customer data. Use matching criteria like names and emails to identify which leads have converted into paying customers. Then, analyze the volume of leads and customers over specific periods (e.g., 7-day, 14-day intervals) to establish correlations. Allow a period of data accumulation (typically 2 to 4 weeks) before performing in-depth analysis.
5. Review and analyze gathered data. Review entry page reports specific to your goals to identify the first pages users visit and the actions they take that lead to conversions. Focus on entry pages specific to users who completed your goal (e.g., purchased a subscription). Differentiate between general entry page data and goal-specific entry data to gain more accurate insights.
6. Confirm advertising effectiveness of your lead pages. Analyze the profitability of your advertising campaigns by assessing which channels and ads lead to goal completions. Track the number of paid subscriptions and calculate the cost per acquisition.
How do I calculate the cost per acquisition?
There are two main ways you can calculate the cost per acquisition for your lead generation efforts, and which one you use depends on your cash flow. Just be sure you have a positive return on ad spend (ROAS) when you’re factoring in your costs!
What is ROAS?
ROAS is normally how much revenue you make per $1 of ad spend. So if you have 1.50 ROAS it means you spend $100 on ads to make $150 in revenue. When determining your ROAS, you also want to consider your cost to fulfill the sale such as credit card processing fee, software overhead fees, etc. For now, let’s just call this Total Fees to make it easy.
Cost Tracking Method #1
Revenue Collected divided by Total Fees
If your total from this calculation is greater than one, this means you are depositing more money net than your costs to fulfill the sale (including marketing and ad spend). Once this is positive you can gradually scale so as not to put pressure on your positive cash flow.
Cost Tracking Method #2
Sales Revenue divided by Total Fees
Sales Revenue is the expected lifetime customer value, so in the context of a membership for instance, you might have members pay $100 per month who stay for 18 months. The expected lifetime customer value is $1,800. Here, you would calculate the average time a member stays by your monthly/annual membership price. Same goes if you have a course or coaching seminar for sale. Note that this method is always a higher number than the revenue collected number.
Note: It is good if you have other revenue streams that generate cash flow. Otherwise you may need to find investors or secure a loan to get a positive ROAS. A recommended setup is when you sell courses to generate positive cash flow, then you use some of that cash to fund the growth of a membership stream–even if the cash flow is negative (so long as the sales revenue calculation is positive).
7. Optimize and scale based on findings. Use insights from your data analysis to optimize key pages and improve user experience. Identify high-performing pages and strategies, and focus efforts on driving more traffic to these pages with ads and search engine optimization. Scale and increase the budget for proven ad campaigns.
8. Create a schedule for regular review and adjustment. Continuously review and adjust your analytics setup and marketing strategies based on ongoing data analysis. Be prepared to pivot marketing efforts if data shows certain strategies are not effective.
9. Seek professional assistance. Consider professional help to implement and analyze data analytics effectively. Our marketing specialists at The Digital Navigator are for instance ready to guide and support you in leveraging customer data to grow your course and membership business!
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Feel free to copy and paste the list above to a new document, since you can use it again and again to support planning and research for existing and future campaigns.
Just make sure you save all your work for the day you’re ready to focus more on teaching, and less on the upkeep of your membership or course website.
That way, your future marketers have everything they need to keep the momentum and growth going for your business!
Can’t wait to see how everything works out, and don’t hesitate to book a free call if you have more questions, or need some quick guidance on what kind of data goals may work for your business–no commitment necessary.
Until next time!
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