Launching the business last week had a set of ups and downs and some potent lessons learned that I spent a little time reviewing this weekend. First, let me give you a overview of the launch.
How The Launch Played Out
My plan was to offer a 20% discount to those who enter their email address before the launch. This allows us to contact them when the product launches and convert them to purchases.
For driving traffic to the site, I set up the scrunchie leash facebook page and twitter account and began producing content and build traffic. I also tried contacting some bloggers to try getting publicity elsewhere.
The traffic results were pretty weak. Most of the traffic came from this blog and posts to my personal facebook page. That traffic is interested in the business (not the leashes) or family and friends who are interested in what I’ve been up to (not the leashes).
After going through a few revisions on the site, I felt it really had some good converting potential, but I wasn’t getting the traffic to prove it. So, 2 days before the launch and made a BIG last ditch effort push, kickstarter style.
I messaged 10 to 15 friends/family and asked them to share the site on their facebook pages. BOOM. Traffic. To me, it was awe inspiring.
- 112 likes on facebook
- 450 followers on twitter
- 1 small blog post
- 65 signups
To me these numbers suggest there was some success considering I made the website, developed the plan and created the social media campaign from scratch in the 3 weeks leading up to the launch. Let’s take a closer look.
The facebook likes are about 50% my friends, 25% purchased likes and 25% organic.
I’m working on growing and targeting the twitter audience a little more, but I think it might be a little heavy in spam-bots and businesses. It hasn’t been very productive.
I decided to look at the few days leading up to the launch, to get a better idea on whether or not my site actually converted. Here are my findings for Jan 18 through Jan 22.
In that 5-day time frame, I managed an 8.27% signup rate. Then, if we look at purchases and total signups (there were some signups before this 5-day period), we see there was a 12.31% conversion to sales.
Both of these rates are good. The problem is, when you multiply the two rates, you find that only about 1% of people visiting the site are going to buy the leash. Not good.
I still think there are a few more purchases in the prelaunch group, so I’m hoping to bring those rates up, but I do think the purchase rate is a little disappointing.
- Social media pages are a long-term strategy. Don’t expect results in 3 weeks.
- Good friends more than willing to help. Use them.
- A facebook post can drive a small spike in traffic. 15 posts from different people can make that spike higher and wider.
- Conversion rates matter. Know them. They decide whether or not advertising will be profitable.
- Now that launch traffic has died back down. Place targeted ads on facebook and find out what my direct purchase conversion rate is. (I think the two steps, signup and purchase, lowered my conversion rate)
- Test targeting different age groups and different interests.
- Build web presence to drive organic traffic.
As usual, hit me up with questions and comments if you have any. The purpose of this blog is to get feedback from others! :)