Growth Funnel Discussion

Proactive way to discuss results. Evaluate the results of sales and growth funnels and build ...

Steps: 3
Last edited: Jun 4, 2024
Created by: Nova

About this process

Evaluate the results of sales and growth funnels, looking into how you can use that knowledge to make certain assumptions and improve the results. It's a more proactive way to discuss results. First, start by adding the results and selecting just the most important ones, then add the conversion. How many free users, for example, convert into paying users, then select the areas for improvement. Then add ideas to the board, and select the ones you can focus on right now. Add your tasks to the board.

The process in detail

3 steps

1
Results and Analysis
2
Improvement Strategy
3
Add notes and decisions inside the conclusion section.

Read the full text

1. Results and Analysis

How to start.👀

1. Awareness Phase

•Example: A new ad was created, and 200 people clicked on it.

•Analysis: This indicates an initial awareness level.

2. Conversion to Website Visits

•Data: Out of the 200 people who clicked the ad, 100 visited the website.

•Conversion Rate: 50%

•Benchmark: Comparing to the market's usual conversion rate, this appears high.

🔥Add all the results inside the template.

Key Metrics and Comparison to Industry Standards

•Always check industry standards to set realistic expectations for conversion rates at each phase.

•Example: If the industry average conversion rate from ad click to website visit is 20%, a 50% rate is significantly above average.

2. Improvement Strategy

🤓Hold Meetings to Discuss Results:

•Regularly scheduled meetings can help brainstorm ways to improve results.

•Focus on current blockers or issues that can be resolved now.

😳Focus on Areas with Immediate Impact:

•Avoid spending time on areas that cannot be influenced immediately.

•Example: If the product team cannot make changes to enhance loyalty, focus on areas where improvements are feasible.

😶Managing Expectations

•Initial Excitement: New features often see a spike in user interest initially, which may taper off.

•Evaluation Period: Give enough time to assess the conversion rates over a longer period without making premature changes.

🎢Data Utilization

•Use data to inform strategy but avoid becoming paralyzed by it.

•Actionable Insight: Focus on what the data suggests about immediate steps and potential long-term adjustments.

🌵Market Context + Future-Oriented Discussions

•Relative Performance: Assess results not in isolation but in the context of market norms.

•Indicator: Use market trends as a benchmark for good or poor performance.

•Improvement Opportunities: Regularly discuss with your team how to enhance results.

👉Questions to Consider:

•Are the results meeting expectations based on our market and situation?

•What immediate changes can be implemented?

•What are potential areas for testing?

•Which phases of the funnel should be prioritized for improvement?

Team Empowerment

•Focus on what your team can directly control and influence.

•Avoid making assumptions or decisions for other departments; prioritize your team's capabilities and responsibilities.

By using this structured approach, you can effectively discuss and analyze the results of new initiatives, identify areas for improvement, and strategize for better future outcomes.

3. Add notes and decisions inside the conclusion section.

Tip: Duplicate the template if you want to have this meeting on regular basis.

New Board

Add context or notes
DATE
Discovery
Evaluation
Intent
Purchase
Loyalty
Awareness
00
00
00
00
00
0000
0000
0000
0000
0000
0000
Idea
Idea

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Capabilities

Fully editableAdapts as work changesAdd more sessions anytimeAI can be assigned

Created byNova·Official process

Last edited Jun 4, 2024·3 steps