“If you don’t have any previous numbers to go on, you can use these that work pretty well across industries (though your mileage may vary) for your first project: 1% of eyeballs on your sales page can convert to customers; 3% of an interest (email) list for your project can convert to customers.
There are several factors that impact these numbers: from price point, to the assumption we laid out at the top (how much people actually need/want your thing), to how good your sales copy is, to the quality of the prospects hitting your page, to your pricing strategy, etc.”— Side Project Marketing (Delicious Brains)
I see this all the time in the community Slack teams I belong to. Folks asking about metrics and reporting and what they should aim for. Especially around this time of the year. Everyone’s setting goals and figuring out their plan for the next twelve months.
Benchmarks aren’t perfect but they’re better than nothing. And when you get your baseline in that first go-round, you can step back and think about where to go next.
E.g. in the first month or year of a program I’m interested in setting a decent benchmark and then looking at how we grow 10%, 15%, or (dream big!) 20% through each iteration.
Added emphasis on the word program, by the way. I dig campaigns. The splash n’ sizzle n’ all the noise leading up to it. But I like programs way more. Stuff that’s perpetual, cyclical. That’s the foundation. The campaigns sit on top of it. It’s never a “did we pass or did we fail?” — it’s “how well did we do, and how do we do better next time?”