When you plan to launch a digital course, you put a lot of effort and energy into the process. You want to be sure that all your time has been worth it.
How do you know if you’re successful?
Well, you can see the number of sales you’ve made, but there are much more subtle indicators than that. Just because someone doesn’t buy this time, doesn’t mean that you can’t learn from them.
Tracking for Digital Product Sales
There are hundreds of metrics you can track, and you need to decide which are most relevant to your overall business goals so they can be turned into actionable insights that help you grow.
With the launch of a digital course, there are several key metrics you’ll need to keep your eye on. These will help you plan for future launches.
Metrics for the Sale of Your Digital Product
Here are the key metrics for your launch process:
- Sales conversion rate
Your conversion rate is the percentage of visitors who make a purchase. This is the metric you’ll focus on the most.
Most analytics tools will tell you the conversion rate, but you can find it manually by dividing the number of people who bought a product by the total number of visitors.
- Click-through rate
Click-through rate shows how many people are clicking the links on your sales pages. This shows how effective your calls to action are.
- Email opt-in
To get people into your sales funnel, you’ll be offering them gated content. The number of opt-ins will indicate the impact of your call to action to sign up for a lead magnet.
- Email open rate
Email marketing is going to be a key part of your launch strategy. The content you send out is valuable, so you want to know how many people are actually reading your emails.
- Cart abandonment rate
It’s great to get people to the shopping cart, but you want to make sure they go through with their payment. If they don’t, this could be due to a shopping cart technical issue or the design of the cart.
How to Track Your Metrics
Always look at the analytics provided to give you tracking capacity, for example:
- Email service providers
- Paid advertising services like Facebook Ads
- Opt-in pages if you use Click Funnels, LeadPages, etc.
- Google Analytics
You can also find specialized tools for specific purposes, like cart abandonment tools.
Moving Forward with Your Metrics
There’s no point collecting data just for the sake of it – you need to analyze and learn from it. This is the only way to optimize your strategy.
Set aside time to look at your metrics and review the information.
- Do this regularly to get insights into what should change
- Involve any team members you have and get their points of view
- Put in place an implementation program of the amendments that need to be made before the next launch