Making Data-Based Decisions

So you’ve started a side hustle and you’re bringing in some revenue. But it’s not quite what you had hoped for. What do you do next?

Maybe you were hoping to leave your day job. Or maybe you’ve already left your day job and you’re not able to support yourself or your family in the way that you wanted to with this business.

Now is the time to start making data-based decisions. Analyze and get some data together on how your funnel is performing.?

How Data is Used to Make Data-Based Decisions for a Business

You want to look at what your sign-up rate is on your opt-in page, on your sales page, and all the steps in between. Are people registering but leaving as the webinar starts?

That would mean that you need to go back and rework your webinar to make sure it converts for you.

You can also look at your sales page. See if people are looking at the sales page and jumping off right away.

Maybe you have the price right at the top. Price should be further down so that people have to scroll through your content first to really see the value.

It could be your email marketing. Are you having good open rates, and good click-through rates?

Also with your ads and with your videos, look at the engagement on those and look at the conversion rate from those.

These are all good places to start making data-based decisions.

The Importance of Tracking Analytics for Making Data-Based Decisions

One area that many people have a challenge that they’re not aware of is tracking. So I highly recommend hiring a professional with Google Analytics and tracking to ensure your tracking is set up properly.

I’ll give you an example. A business I worked with in the past thought they had very high conversions. But the business was not making revenue growth, and everybody was confused about it why since the conversions were high. It turned out that the tracking wasn’t set up right. It was overcounting conversions.

Some tracking pixels were on the thank you pages, which people can bookmark and go to multiple times. So the tracking is going to count that as multiple conversions when in fact, it’s really not true. So you might want to use a different tool.?

Data-Based Decision-Making Tools

SAMcart is a great tool to use for checkout. You can actually add pixels to fire within the SAMcart, so that it can only fire a pixel as a conversion on an actual purchase. ?

Another thing that you can do if you are having success with your funnel is to see how you can maximize it. You might be able to increase your price point on the product.

You could do some split testing so that you don’t deteriorate your current funnel that’s bringing in the revenue that you want. Have a live launch as your split test and see if you can sell it at a higher price point, maybe with some additional coaching from you in a group setting to go with your program.

If you aren’t tracking data in your business yet, or you are collecting data but have no idea how to use it, then I have a solution for you! I want to gift you my Stats Tracking Templates!

This stats sheet will help you collect the data you need to know whether your sales page is working. I have used this for years to help small businesses grow to 6 and 7-figure businesses.

Get Your FREE Stats Tracking Sheet now.

The Benefits of Making Decisions Based on Data

There are always a lot of steps involved if you have a business set up already. There’ll be a lot of actions that need to be adjusted as far as email campaigns, tagging, and that kind of thing to ensure that this change you want is successful.?

You could do some split testing with it so that you don’t deteriorate your current funnel that’s bringing in the revenue you want. ?

Now, if your funnel is not successful, that’s when you really need to think about what you could do.

If you’re not getting money from the funnel that you set up, then you need to try a new strategy.

So if you’re feeling stuck in your business, you’re ready to scale, and you’re not sure what your next best step is, schedule a free scaling appraisal call with me to do some analysis of your business and help create a scaling plan that’s right just for you.

Schedule a call with me, and let's chat about it.