How to Convert MORE Leads From a Free Workshop
Are you hosting a live launch and planning a free workshop as one of your conversion events? If so, let’s get candid…
A Reality of Online Business: There will be people who opt-in but don’t show up.
It’s true, because on average only:
•40-60% of the people who opt-in for your masterclass will actually attend
•This means all of your opt-ins are NOT seeing your pitch
•Approximately 46% will actually watch the masterclass to the end (the latest statistic from Venture Harbour)
•Approximately 10% of those who complete will convert (this can vary by industry & audience, but for sake of providing a comfortable average)
So what does that mean for your next launch? Let’s crunch the numbers together so you can see just how many people you need in the room.
Crunch the Numbers:
500 people opt-in for your masterclass / (50%) = 250 people attend
250 people attending / (46% watching until the end)= 115 people see the pitch
115 people who watch until the end / (10% conversion) = 11 buy or apply for the offer
At this point the wheels likely start turning about needing more leads, growing the top of your funnel, and having bigger conversion numbers by restarting the process of attracting opt ins.
But what about the people who we lost in the process?
Key Takeaway: There are people who fell away- it’s important to identify these groups for the processes you’ll see below.
Who Are You Focused On?
Here’s an idea though- why only focus on “expanding the lead pool” when instead you can recoup those who fell off?
Think of it like this: Imagine you’re making a balloon arch for a friend’s birthday party.
•You do all the work of blowing up the balloons at home, tying them neatly into little bunches, and then loading those bunches into big garbage bags for transport to the outdoor venue that you rented.
•When you arrive and open the trunk of your car, a few bunches of balloons roll away (wind, it happens).
•You know you need to stay focused on the end goal though, so you get to work on setting up the big metal arch and secure all of the bunches of balloons until it’s picture-perfect.
•Once you’re done you realize a few more balloons got loose, and as you take it in you realize your arch would look better if it had ALL the balloons possible!
What would you do:
Option A: get in your car, drive back to the party store, buy more balloons, then drive back and inflate them just as you did the first time around?
Option B: take a quick stroll around the venue and collect the balloons that originally got away from you, walking them back to the arch and securing them with the rest of your balloons?
If you’re a person who values efficiency, you’d likely collect as many of the balloons you lost in the setup process and secure them to the arch to finalize the project.
Key Takeaway: Your prospects should not drop off your radar because they didn’t convert, finish watching, or even attend your free workshop- they are an important group to potentially sell to.
It’s All In the Numbers
Oftentimes we’re so focused on a quest for more, more, more leads – When really we have an untapped pool of hand-raisers waiting for us to guide them further:
So that means that if….
500 people opt-in for your masterclass / (50%) = 250 people attend
250 people attending / (46% watching until the end)= 115 people saw your pitch
115 people who watch until the end / (10% conversion) = 11 conversions
So the goal now is to take those available leads who didn’t make it on to that metaphorical balloon arch the first time, find them, scoop them up, and get them back to where you need them to go (aka conversion point of your workshop).
How to Get Those Leads Back
Of the 115 Highly Interested But Didn’t Attend:
It’s time to get close with a pop up workshop!
• TO DO: You’re going to personally reach out, invite them to additional training that’s shorter, more powerful, and with a harder pitch, and provide a PDF resource that will further their need for your offer.
Of the 135 People Who DID Attend But Didn’t Finish:
Become their BFF by handing out gold in their inbox.
• TO DO: You’re going to create a retargeting email campaign encouraging them to watch the rest of the training. Add “poppable” pieces of gold that make them feel like they have immediate value (getting even MORE if they finish the training). Quote social proof from those who finished, and consider going above and beyond by providing a complimentary workbook for them to use as they go through
Of the 250 That Did NOT Attend (the other half of the 500 opt ins):
Nurture them further to hype the masterclass.
• TO DO: Create a 3-5 part nurture sequence providing value on the topic of the offer pitched in the training, around emails 2, 3 & 5 send an invite to jump back into their masterclass – pulling some copy from the “attendance leads” emails for juicy nuggets & social proof.
Final Key Takeaways
Through this process remember that we want to collect those who got lost and never made it to the final conversion point. You know your people best, and it’s important to tailor all of the activity here to THEM. Be scrappy and creative to ensure that you’re moving them from where they left off to where you want them to be.
Stay tuned for even more on all things launching in the coming issues of The Goods, our FREE Weekly Newsletter.
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