Running a webinar takes a lot of resources. The time you spend putting it together, time you spend promoting it and money spend if you have used ads and in paying for software. Any smart business owner will want to know – was it worth it, should I do it again?
Putting on a webinar is no easy task, so congratulations to you if you are all prepared and you are ready to go!
But are you really ready? You might think you have everything in place but have you thought about how you are going to measure the effectiveness of your webinar funnel at generating leads and driving sales? Running a webinar is a marketing activity with a defined goal – to get more clients. So how good is this marketing activity for your business? After all this effort, wouldn’t you like to know if it was worth it?
There is a lot of ground to cover so I have split this blog post into 5 parts.
- Part 1: What you need to do before your webinar.
- Part 2: Setting up Google Analytics tracking for your registration page.
- Part 3: Setting up Google Analytics tracking for your sales page.
- Part 4: Setting up heat-maps to improve conversion rates.
- Part 5: How to always be improving.
- Part 6: What do do after your webinar.
PART 1: What you need to do before your webinar
Calculate your webinar expenses
To measure the impact of your webinar you need to understand how much your webinar has cost you. This might be tricky to be exact so a rough figure here is good enough. Just be realistic about it. Split your costs into one off and monthly so you can see the longer you use webinars as a marketing activity the more the costs build up. Monitoring your time is crucial. Give yourself a realistic hourly rate. Time spend working on your webinar is time spent away from other business activities so account for it correctly.
Some ideas of where your expenses will come from are below.
- Time spent preparing webinar.
- Copy writing for email sequence.
- Webinar software.
- Writing content for promoting webinar.
- Time spent promoting webinar.
- Paid adverting costs.
- Virtual assistance help.
Keep tracking your webinar expenses you will need to use this when you work out the return on your investment in part 6.
Set clear goals
What is the goal of your webinar? To get attendants to make a purchase? Book a discovery call? Or something else? This goal needs to be monitored so you know how successful your webinar was. So lets say you are selling access to a coaching program from your webinar. The main goal (or macro conversion) is to sell a space on your coaching program. There will be several other steps along the way that people people will need to complete before they complete the macro conversion.
They will need to register, need to view your webinar, need to apply for a call with you, then be accepted onto your program. This is your funnel.
Each time someone completes a small steps in your funnel it is called a micro conversion. You need to be measuring each micro conversion. But first you need to write out what all the steps are in your funnel. So do that now.
Ok, now for a painful truth.
The pages that come with your webinar software – your sign up page and your confirmation page, they need to be ditched. You need to create your own and host them on your website.
Why go through this hassle when when the lovely webinar company has taken the time to provide them for you?
For a few reasons.
- Flexibility. A page you create yourself is far more flexible. You can define the layout and make it much more user friendly. Many of the forms look like something from the 90s and you need to look relevant and modern. Your page needs to fit your brand to increase trust.
- Ability to test. You really want to be able to split test your sign up page, you want it to bring you lots of sign ups, yes? The only way to do that is to test it.
- Ability to properly monitor the traffic to it. If it is your own page, on your website it will appear in Google Analytics and you can monitor the traffic it receives. You can also track the actions people took after they signed up.
Now for a few reasons why you should ditch your webinar confirmation page that is provided by your webinar software.
- Flexibility. Similar to before, it is not flexible. The thank you page is a piece of prime real estate. You have the attention of your ideal audience, you can use this page to give a personal message, to give further value, and to encourage some other behaviour to increase trust and increase the chance of them attending your webinar.
- Ability to properly monitor the traffic to it. Someone registering for your webinar should be a business goal and it should be tracked in google analytics. For goals to be correctly tracked the goal page (confirmation page) needs to reside on your website. If its not on your website you cant track it as a goal.
If you are part of the 99% that will find the very thought of creating two more pages and setting up tracking just too hard, that’s fine, either find some one to help you or do nothing. If you do nothing then don’t complain a few months down the line when you realise it didn’t go to plan, you could have done better but you have no idea what to do to improve because you have no data.
Setting this up now will tell you later what you need to know later. You cant retrospectively track – you need to do it before you get traffic.
Measure your performance and be part of the smart 1%.