The three most important metrics you must understand and master to grow your business are traffic, conversion, and retention.
Below are the training materials for each. Use the Analytics tab in the Dashboard to view all of your stats.
Traffic
Traffic is defined as the number of visitors you get to your sales page. You want to have 1-3% of your total audience as traffic to your sales page.
How do you determine your total audience? Figure out your “total distribution list” of social media followers (Instagram, YouTube, TikTok etc.), email list subscribers, text list, etc.
For example: If you have 100,000 Instagram followers your goal would be to get 1,000-3,000 sales page visitors (aka 1-3%).
Dashboard: You can find this number in the "Conversion Funnel" section where Sales Page Visitors are displayed.
How to Increase Traffic
The #1 thing you can do to increase traffic is to make sure you’re marketing the app correctly. Make sure your bio is set up correctly (tutorial here) and your CTAs are clear:
Does it show all the value your app provides?
Are you telling a story or providing knowledge/value along with your CTA?
Are you consistent with your marketing/promo?
Other resources:
Aim to post to in-app stories 2-3x/week, make marketing a habit
Conversion
Conversion is defined as the number of sales page visitors who convert into paying customers and purchase the app. You want 5-10% of your website traffic to convert and make a purchase.
Dashboard: You can find this number in the "Conversion Funnel" section where New Purchases are displayed.
How to Increase Conversion
You want to make sure your sales page is optimized. Make sure you include testimonials, success stories, app reviews, and more to convince users visiting the page that they should subscribe. You should also be clearly communicating the value of your app on your sales page.
Other resources:
Sales Page Video examples (Danny Saltos, Hannah Bower, FitGurlMel, Nick Bare)
Retention
Retention is defined as the subscribers who stay after their free trial as monthly or annual subscribers. You want to retain 60-80% of users from the free trial and have at least 50% of your paying subscribers be on an annual subscription.
Dashboard: In the "Trial Conversion" section, reference the 7-Day Conversion Funnel for Trials Expired graph. This is the number that should be 60-80%
In the "Monthly & Annual" section, reference the Annual vs. Monthly Paid Subs Over Time graph. You’ll want to aim for at least a 50/50 split on monthly and annual.
How to Improve Retention
Having an air-tight content strategy is essential to get users trialing the app to stay long term. Curate your app channel to make it easy for new subscribers to follow along:
Create “Start Here” videos so they know how to navigate the app.
Create a 7-day/1 week “starter” program to curate content for new users during their first week.
You’ll want to make sure you have an ongoing content strategy and create new content regularly to keep subscribers coming back for more.
Other Resources:
Examples of great first week programs (Eliza Katoa, Danny Saltos, Brittany Lupton, Hannah Bower)