As a CEO, you have a responsibility to make decisions that are in the best interest of your business. The worst decisions are based on feelings and the best decisions are based on facts. But how do you discern feelings vs. facts?
In today’s podcast episode, I talk about how my team and I evaluate the success of our initiatives, specifically our live launch efforts, and what data we look at to determine what to do next.
You’ll learn how I think as a high-level CEO, how I lead my company with easy-to-collect data and measurements of success, and how we support our clients in doing the same.
Ways we can support you:
>> If you’re ready to get fully booked with a message that aligns with premium clients and organic content that attracts and enrolls clients consistently, enroll in 10K Content Collective and get instant access to the live coaching, curriculum, and community.
>> If you’re ready to pivot to group coaching and want to consistently fill your group programs with a marketing machine that creates rhythm and cadence in your business (so you can experience true freedom in your life), apply to be considered for our experience, Launch Like A Queen.
Do not miss these highlights:
01:08 I would like to share my newfound commitment, to take Fridays off which was so hard to do and it’s crazy.
01:40 It put a little bit of pressure to do more in the confined hours of work, and it built a good discipline in me.
01:56 If you've been with us over the last five episodes, I did a Live Launch Secrets episode series. So now here is a bonus training on Launch Debrief.
02:28 It’s important to know that there are these moving parts within the entire strategy that plays into the overall results that you're seeing or not seeing.
02:52 How do you actually assess what's working, and know what to do the next time?
03:18 It's important to lean in and see that maybe it didn't go according to plan, but ultimately as a business owner, you have to be making decisions based on the right data.
03:47 Because I'm a woman, I have a lot of emotions. Sometimes it's hard to discern what is an emotion, what is a story, and what is a fact.
04:23 I think decision-making is such an underrated or overlooked element in the full picture of being a coach and a business owner.
05:06 If we think about learning from the lessons of our past and being able to carry those forward in a way that supports us and also accelerates us.
05:39 Look at your decision-making process and your evaluation process across the board.
06:20 It's really important to pause and reflect and document those lessons learned.
06:33 The other part of this process is actually writing it down. Having that history of lessons learned.
06:42 I was looking at a past launch debrief that our team did six or seven months ago.
07:00 Because I had that documentation process, I was able to remember and also reimplement it because I have proof that it worked.
07:40 We do a debrief and we have a very specific process for this, that we also give to our clients.
07:50 I want to go over the very specific data that we have collected, looked at, and documented, then we compare it to the overall standards.
08:42 One of the things that you should obviously look at is the total number of registrants for your launch event.
09:05 While most people think that that's the most important number, it's actually not.
09:45 The number that you really want to assess is the show-up rate for this launch event.
10:11 Another thing is when you know some things are normal, you can stop letting it stress you out.
11:12 You work to improve not about the total registrants. It's actually about the total number of people that are going to be showing up live with you.
11:47 You can now align a strategy to make sure that more people can actually hear the pitch.
12:34 Make a habit of having a notebook and being aware of the number of people on live with you.
12:50 What you want to do is improve that transition and figure out how can you hold their attention and make this worth their time.
13:23 You should also need to look at the conversion rate, obviously.
13:37 You also want to track that by day. So you have data that shows you that in some scenarios, over 50% of our people join on the last day.
14:18 You look at overall conversions when it comes to book calls, total claims, total enrollments, etc.
15:05 So when you start to strategize for the next event, those are things that you look at, the email, open rate, and click-through rate.
15:50 You look at the data then you focus. The data tells the story, gives the picture, and gives you very specific areas for opportunity without reinventing the wheel.
17:10 Make sure there are processes in there to remind them and incentivize them because even after they opted in but after a while it's going to be less compelling again.
17:34 What this does is it gives you such a beautiful landscape where your biggest opportunities are.
18:20 You have to develop business skills, analytical skills, and hard skills that allow you to have and make better decisions.
19:04 Give yourself some space, then you got to pick yourself back up and you got to carry on.
19:48 This is something that we do with you inside Launch Like A Queen. We have a launch debrief template that we ask all of our clients to complete. This then allows me to guide them in the right direction after their launch.
20:30 We are still open for enrollment for our June class of Lunch Like A Queen, but we are in application period or waitlist period. So at least just apply so that we can see if we're a good fit together.
About the Host
Kinsey Machos, a Marketing Strategist, is also a recovering people pleaser, self-sabotager, and corporate hustler. She helps entrepreneurs create and execute magnetic marketing and build expert brands so that they can get known, seen, and heard online.
She believes that creating a business that’s 100% in alignment with SELF is one of the most important things that we can do as women — because there’s an inner magic that we all have if we commit to an infinite pursuit of discovering (and re-discovering) that.
As a wife and a mom of three, the family takes priority. And having a business that’s run AROUND her lifestyle is a daily intention of hers.
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Welcome to captivate and close. I'm Kinsey Machos, business consultant and marketing strategist. And I'm going to show you how to attract and enroll high-paying clients using my break through online marketing strategies, all without having to rely on complicated funnels, disingenuous clickbait, or spammy sales tactics. These are the messaging marketing and selling secrets that virtually no one is talking about. So let's dive in. Hey, welcome back to the episode, I hope you are having such an incredible day. It is Thursday at the time of this recording. So I'm wrapping up my week. Tomorrow, obviously, it's Friday, so I'll be hanging with my five-year-old buddy. And just soaking up all that time with him, you know, he starts kindergarten in the fall. So my commitment was to take Friday's off, which was so hard to do, which is crazy. And I sometimes even feel bad admitting that, but I am definitely, you know, the workaholic type of genetics that is really hard to scrub out of me. But I'm like, it's just fascinating, where you put the constraints like, you adjust, right, if you have five days to work, you will fill those five days with things, if you only have four, you will do what you need to do to get the work done. So while it's put a little bit of pressure to do more in the confined hours of work, it's really built a good discipline in me. So anyway, one of the things I wanted to do was do sort of a bonus training on launch debrief. So if you've been with us over the last five episodes, I did a live launch secrets, a series where I really went deeper into each phase, a little of the launch, and how they really individually impact the entire launch experience. And so while sometimes people see this, you know, strategy is sort of this, this one hit wonder, one of the things that's really important is that there's these moving parts within the entire strategy that play into the overall results that you're seeing or not seeing. And so this helps us really discern like what's working what's not working within the given stages, and helps us really figure out where we need to improve or where our biggest opportunities are, which is what leads me to the conversation today around like, how do you actually assess what's working, and know what to do for the next time, one of the biggest mistakes I see is that people have this idea of like throwing the baby out with the bathwater mentality, where maybe they did a launch event, they had a goal to enroll, you know, five clients, and since they didn't hit that goal, it was wash, or it didn't work. And while this is, you know, it's important to be able to lean in and see that, you know, maybe it didn't go as according to plan, but ultimately, as a business owner, you have to be making decisions based off the right data.Kinsey Machos:
And here's another really big one that might sting a little bit, you cannot make decisions out of emotion. So I've had to make this mistakes, you know, too many times to count, I'll probably do it again. Because I'm a woman, I have a lot of emotions. And sometimes it's hard to discern what is an emotion, you know, what's a story versus like, what is fact, and this is one of the biggest, you know, areas for improvement for me, is developing that skill within me as a CEO so that I can guide my team in a way that I feel proud of, and that I can make decisions that ultimately drive the business forward versus stalling us out. And sometimes, I think that you may not be hitting your targets or hitting your goals, because that's an area that you haven't developed yet. I think decision making is such an underrated or overlooked element to the full picture of being a coach being a business owner. And it is by far one of the most important things you can build. And so part of this is like are you actually reflecting Are you assessing? are you evaluating in a way that is helpful for you? I think it's interesting when we move so fast, and we're just like Okay, on to the next on to the next. What's happening is you're not even taking the time To be able to pull from those experiences. And so it's all for nothing really, right? If we think about learning from the lessons of our past and being able to carry those forward in a way that supports us and also accelerates us, right, that means you actually have to stop and effectively evaluate. And so when it comes to specifically your launch process, I want to share some data that we look at in order to assess what is next. So while this conversation is applicable to, you know, the launch strategy, I want you to also really take this away and look at your decision making process and your evaluation process across the board. Right, we really force or we really challenge our clients to pause, you know, it's like, if you don't even pause after maybe a sales call that didn't convert? Have you taken the time to sit down and ask yourself why? Or what could have gone differently? Or was there? Was there something that went that that went well, that actually you would have loved you would love to do again, but you wouldn't have noticed that if you sort of looked at this, you know, failure is just a fail and moving on. And so it's really important to pause and reflect and document those lessons learned. It's interesting, because I always think I'll remember something, but I never do. And so the other part of this process is actually writing it down. And having that history of lessons learned. And you know, what worked, what didn't work, I was looking at a past launch debrief that our team did, like six or seven months ago. And it was noted in there about something specific that we had done, that worked really well. And for whatever reason, we stopped doing it. And it was like what, like why, you know, it's just crazy the things that we do or don't do, but because I had that documentation process, I was able to remember, and also, you know, reimplement, because I have the the proof that it worked. And there was no sort of, you know, scenario that we needed to stop. So that's what that does for you. And also, when you have that documentation process, as your team grows, right, your team can also support the process in making better decisions and making sure that when you guys are building out these strategies, you're taking those into consideration. And so every time you launch, or every time we launch, we give ourselves a couple days, but then we do a debrief. And we have a very specific process for this, that we also give to our clients. But what we're doing is we're really assessing what went well, and what did not go well. But more importantly, we collect some very specific data. So I want to go over some of the things that we look at and document and really compare to sort of like overall quote, unquote, standards, sort of where we usually hit and how we start to assess this as far as like was this successful or not. And what this does, when you have the collective data to look at, it tells a story, and it gives you very, very specific next steps, instead of the feeling of it being a failure and feeling like it didn't work. And so we're just going to move on to the next thing. This is not how you can make decisions anymore. So within this launch, debrief, what we're doing as we're looking at the overall metrics and statistics or you know, data for these given components, so one of the things that we obviously look at is total registrants. So this is total registrants for your launch event, whether it was a masterclass challenge or workshop, whatever that looks like, this was the free launch event that you invited people to, and then use that as a container to invite people to your program. And so what we want to do is look at total opt ins total registrants for that launch event. Now while most people think that that's the most important number, it's actually not. And this is where you can get more out of a smaller audience size when you actually know how to look and evaluate these numbers. And so I'll talk more about that. But we obviously want to look at who like what was our pool of people? How many people did we have in this launch container? Then we look at the show up rate. So while you have, you know, a certain number of people that signed up for the launch event, you will not have all of those people show up. And so one of the numbers that we really want to assess is like did we have a good show up rate for this launch event? And you know, it really depends on industry standard, you know, masterclass, I think they say like between 30 and 40%, of total registrations, a workshop or a multi day event style is going to be a little bit less as days progress, which is normal. And here's the other thing is when you know, some of these things are normal, you can stop letting it stress you out or letting it mean that something's not working. Right, I had a client that said, that was feeling very discouraged, because the second day of their multi day event, their challenge, they had a drop off from day one. And so they had already sort of looked at this launch event as a failure, and were feeling really discouraged. And I could notice the energy really drop. And we talked about just like the fact that that's normal, and that's okay. And so you can really, you know, prevent yourself from spinning out when you also know sort of, you know, how these things play out and what to really quote unquote worry about. So we look up show up, right? Right, how many people are actually showing up live with you for the live masterclass the live challenge, whatever that looks like. This is really important, because this is actually one of the biggest things that we focus on. And where we work to improve it is not about total registrants, it's actually about the total number of people that are going to be showing up live with you. Now, we also look at the pitch show up rate. Okay, so how many people were on live with you when you pitch this is really important, because while most people think that people actually heard your offer, there's actually a lot of people didn't. And when we can know, or when we are able to know how many people didn't, we can really align the strategy to make sure that more people actually hear the pitch. So this is the if you remember the fourth stage of the launch event, when you do the offer invitation when you transition from teaching to then pitching. And you want to really watch your drop off rate. So in the master class, when you pivot, right, you'll kind of know how many people are on or not on. And again, there will be people that drop off totally normal, it means nothing about you, during a multi day event, right? This is something that you'll also want to monitor because if you're pitching, say on the third day of a four day event, towards the end, again, you want to know the number of people that are on live with you when you begin the pitch. So if it's just you just make a habit of having a notebook and being aware of the number of people on with you, if you have a team, they can do this for you or you know, a va.Kinsey Machos:
But that's important too. Because if you think about it, if you're having a large drop off rate, right, when you pitch, then what we want to do is improve that transition and figure out how do we really hold their attention and make this worth their time, because it is like when we pitch people stay on the entire time. They love to hear us pitch and by the way, people love to be sold to right. And we talked a little bit about that in the pitching and selling with authenticity. But the pitch rate is definitely something that we want to know how many people were on live with you when you pitched came. So that's sort of event details. Now we also look at the conversion rate, obviously. So if your call to action is booked calls, you want to track that if you are more of like an enroll, now we're going to look at, you know, the conversions, right, how many people actually converted. And we also want to track that by day. So we have data that shows us right in some scenarios that over 50% of our people join on the last day. And so that data also helps us because when we're not seeing the enrollments come in on day two, or day three of OpenCart period, we kind of know what to expect, because like, okay, like this is kind of normal, obviously, we want to work to improve that. And we are able to assess like what types of content do we need to put more in the middle to still create more of that, like the trickle throughout, so we don't have the big rush in the front and rush in the back. But again, when you have this data, you know what to look at. So we look at overall sort of conversions when it comes to books calls, total claims, total enrollments, etc. But as you guys are in OpenCart, we want to look at things like your email, open rates and your click through rate. So your post launch email sequence that's going to drive people to buy if they're not even opening the emails or clicking on your sales page or clicking the link, then we know we have a problem, right? If they're opening the emails, but they're not clicking on the link inside the emails, we know what the it's not that the email subject line was there was anything wrong with that, right? There's something in that content that is not giving Number A compelling enough reason to actually click on the sales page or click on the book a call. And so when we start to strategize for next event, those are things that we look at the email, open rate and click through rate, because what that tells us is okay, where do we need to get more people in front of the offer itself? Because they're not even opening emails? Or if they're opening the emails, but not clicking on the link? How do we create more of that compelling reason for them to click on the link and book the call or click on the link and enroll? Now, a lot of people have a hard time doing this, because it's like, if you sort of look again, at the overall launch is this quote unquote, failure, then we, you know, toss it out. And then you know, we switch gears, we do something different, again, carrying over the same unawareness, which is going to just create the same results. But when you look at this data, then we have focus, right, the data tells the story, the data gives the picture, it gives us very specific areas for opportunity, without reinventing the wheel. And so if I have a client who's like, you know, I only had two clients join, and I wanted to get five. Here's the data. I think that the launch con, I think there was just something in the master class that wasn't converting. But when we look at the data, right, the total registrants, great show up rate, not great, but within the show up rate, the percentage of conversion into bug causing clients really, really good. So there's nothing wrong with the content in that scenario, what we want to do is actually just increase the show up rate, increase the volume, you don't need more registrations, you don't necessarily need to change the the masterclass content, it's just like, all we need to do is make sure that people know and are reminded of the event when it's coming, more reminders, right and more processes that are like getting them to the masterclass, it's so interesting how, you know, if people opt into your launch events, they a week ahead, right, they're going to forget, they're totally going to forget. And so making sure there's processes in there to remind them, incentivize them, because even after they opted in, after a while there, it's going to be less compelling again, and so are you making sure that we are still selling them on why they need to be at the event, right. And so we're always selling throughout the entire process, whether it's directly to your offer, or just, you know, selling that next step. And so what this does is it just gives us such a beautiful landscape for where your biggest opportunities are, so you don't have to change everything, in fact, is likely a couple little tweaks here and there, that will provide the biggest, the biggest transformations in your result. But most people, they just don't take the time to do this. And also, they're they're not disciplined in in building this skill to make better decisions from data. I think they there's this like, really interesting trend in the industry where it's like, I'm just going to manifest results. And I'm if I'm just like high vibe all the time, you know, I'm gonna attract more of that. But that's just not true. And there's just so much to say about the fact that you do have to develop the business skills, the analytical skills, right, the hard skills that allow you to really have make better decisions, assess what's working, what's not working, and be able to carry the business forward, carry the team forward in a way that is not based off of all feelings and emotions, and sort of this like, random sort of energy or vibe. So I think it's just It goes without mentioning and, and making sure that again, you you slow yourself down. And so if you had a launch, that seems to be more of a failure, or you're you were feeling very discouraged, right, give yourself some space for sure. Give yourself some space, but then you got to pick yourself back up and you got to carry on. And part of that before you do anything else is actually documenting this process and taking the time to look at your launch or anything in that regard, with a clear mind, right, assessing these things line by line, and being able to see the full picture for what it is and then going deeper. And from there. It is so easy, so easy to see where your biggest opportunities are with again, very, very, very tiny operational lift. So just a reminder for you to make sure you're making better decisions and alignment to facts, not emotions, and they are documenting that process. This is something that we do with you inside of launch hacker Queen we have a launch debrief template that we ask all of our clients to complete when they're done and this then allows me to guide them in the right direction after their launch because sometimes it is it is hard to see until you've had that skill set in data analytics and sort of seeing the you know, to me, these opportunities are just like, glaring, right. But I realized that's not most people's skill set yet, but it will be because I teach you that and because this is a skill that you have to carry forward in everything. So I hope this was helpful. And if you want more information about launch, I mean, we have the information in the show notes. At the time of this recording, we are still in open enrollment for our June class. But we may be in application period or waitlist period, eventually, if you're listening to this at a later date, but check it out, get in there if you if it if doors are open right now, get in there while you can, or at least apply right so that we can see if we're a good fit together so that we can really help you build out that marketing machine that's going to allow you to attract and enroll dozens of clients at a time with more ease and flow. Alright girl, I will see you next time. Hey, you, thank you so much for listening. It's an honor to be able to pour into the hearts and minds of like-minded entrepreneurs all over the world. But my most favorite part is being able to connect with you in real life. If you love what you heard here, head over to the community where thousands of female CEOs just like you are changing the world one human out of time. We go deeper into the topics you discuss here and giveaway tangible roadmaps to help you crush your revenue goals to join this high caliber free community head over to kinseymachos.com/community. A see you there