Ok, so you know what kind of course you want to create, what the topic will be, you have the outline and are working on content.
But what about your enrollment goals?
With all the work you are putting into creating and building your course you want to make sure it’s worth it.
Of course you do!
But in order to figure out your goals you need to know some things about your product, audience, marketing and funnel.
You need to consider the following things as you put together your goal for course enrollments.
Course Type/Price Point
The type and price point of your course is a key piece when setting your enrollment goals. Is your course transformational? Introductory? Certification? The conversion percentages for each of these types are different and will be a part of the equation you have to consider.
Price point is also a key to setting an enrollment goal. The higher the price the lower the enrollment conversion will be.
Once you know these two things you will be able to use this information to back into your audience goals to hit your overall goal.
Who is your audience? How does their income and lifestyle relate to the price point and type of course?
If your course is $5,000 and your audience is made of people with incomes above $150,000 you will have a higher conversion than if their income is $75,000.
The same is true for transformational vs introductory. The level of self improvement sophistication of your audience will directly impact how many people will need to see your message before they buy.
The type of marketing you do will have an impact on how reasonable you can set your goals.
For instance, if you are relying heavily on Facebook ads, but you have a budget of only $50/week and you hope to launch within 3 weeks, you will need to set a much lower goal than you would if you had a budget of $100/day or if you were not launching for 2 or 3 months.
Everyone’s course funnel will look a little different. Some will go direct to the course. Others will have multiple products and the course will be the big ticket item. And still others will use the course as an intro offer in their funnel.
As you know, each step of the funnel has people drop off.
So when you look at your goals you will want to keep your funnel design in mind and be realistic about how many people you will need to send to the funnel to get the number of sales you are shooting for.
Now that you have given all of that some thought it’s time to put your goals together.
If your goal is financial then you will need to work backwards from your financial goal to figure out how many people you will need to reach in order to hit it.
If it’s a number of enrollees, then you just work backwards from there.
Let’s run through this.
If you are selling a $5,000 course to affluent women and you want to make $25,000 from your launch, then you have to sell 5 courses.
Ok, so 5 courses sold means you have to send a lot more than that to your funnel. If you have VERY qualified prospects then you can probably shoot for a 10% conversion.
If you are sending cold traffic from Facebook ads, for instance, you will likely have a much lower close percentage, perhaps as low as 1%-2%.
(I always plan on exceptionally low numbers because I would much rather make too much than too little!)
So from there it’s just math.
5 people is 1% of 500, so you need to send 500 people to your page, at a minimum.
This last part is important.
Because you should always shoot higher to leave little room for not reaching your goal.
And if you know me then you know I use words like always and never very carefully.
And you also know I don’t like to not reach my goals.
It bothers me.
So, always plan on very low conversions and shoot for higher than “necessary” traffic.
If you do these two things, you should hit your goals more often than not.
And when you hit your goals you will know you are impacting the people you were hoping to impact.
And your change in the world will be felt.