Just some quick updates for my business in Jan to keep me accountable for my goals
I’m on track to generate 50k by the end of this week from new clients.
The strategy is still the same as since I started, stick to the plan and be consistent.
Back to our regular programming…
So today, I wanted to share about understanding data to make better decisions in business.
I had a client who was thinking between a free vs paid workshop
The head of marketing wanted to go ahead with the free workshop as it generated more leads for the company.
But after we broke down the data to see if his assumption was right, we realised that paid ads weren’t converting with the free workshop at all…
Instead running ads to a paid workshop generated them significantly higher returns and better quality clients…
This situation happens because we tend to assume that even though data is collected but not understood…
The more you can understand the details of the data and the big picture it’s telling you, the easier it is to scale any business….
So take you time to dissect data and understand the story it’s telling you..
Always challenge your assumption with numbers and you will get better clarity…
Some data points that people fail to consider
- number of touchpoint
- (last touch) UTMs → to identify if paid ads is really bringing in returns or if your organic and referrals doing the work
- Entry point of clients → to identify which campaign is bringing in the right type of leads into your ecosystem
That’s all for today
