Ken Davenport

MEMBERSHIP FUNNEL

MEMBERSHIP 
FUNNEL

The Before:

Davenport Theatrical, which is led by Ken Davenport, offers consulting services for Playwrights with a dream of getting their show to Broadway.

Ken is a Tony Award-winning Broadway producer and an Inc. 5000 entrepreneur  expert. He is an expert on the business of Broadway and the ONLY producer doing what he does. There are other people who run workshops, classes, etc. on theatre, but he has the authority that no one else has, which is why he can charge a premium price. 

His team was struggling with creating a profitable membership funnel. Doing what any logical person would do *haha*..... they reached out to Emily for help and decided to purchase our Performance Package.

If you keep reading you'll learn our secret strategies on how we were able to buy data and flip the script on this Theatrical membership Funnel.

The Details:

From Top Level Coaching programs priced at $25,000/yr to lower level membership programs priced at $47/month, Davenport offers a variety of services to potential customers.

At the time starting with Hirsh Marketing, Davenport had never produced successful ROI using Facebook ads to attain members in its lower level product - Associate Pro Membership - $47/month. 

They hoped to at least break even on ad spend with membership purchases. This way they could build their recurring revenue and profit from members who continued to purchase up the value ladder. 

The Strategy:

Hirsh’s Performance Package focuses on testing and optimizing the client’s funnel. Here was our approach with Ken…
We drove leads to an opt-in offer, a 30 Day Challenge on Script Writing. The landing page on the opt-in thank you offered a One-Time-Only starting price for the Associate Pro membership at $7 for the first month and then $47 each month thereafter.
The nurturing sequence for the 30 Day Script Challenge included emails, execution plans for $7, and an invitation to Ken’s Webinar - which pitched the membership.
Also as part of the strategy, we spent money on engagement videos to nurture a cold audience. We sent new viewers to the challenge opt in page and for the viewers who were already in the challenge, this served as a reminder for them to re-engage.
Our original projections hoped to see a 6% sales conversions on leads to tripwire purchases and a 2% conversion on membership purchases, which would have covered their campaign ad spend.

CHALLENGE AD

CHALLENGE AD

CHALLENGE AD

CHALLENGE AD

OUR CAMPAIGN FAILED AT FIRST....

We were succesful in our lead generation goals. Our Cost Per Lead was less than $2.50, and we averaged over 100 leads per week. However....

The purchases did not produce results in our projected conversion rate. We saw less than a 1% conversion rate for the membership (even at the low price point of $7) and a low conversion rate for the $7 offer we made during the nurture emails for execution plans . 

HERE IS WHAT WE CHANGED


Your data should tell you where the problem is in your strategy. 
Our lead flow (top of funnel) was working, but there was an issue with the conversion rates. 
This meant that we had to make changes further down the funnel.

  • Updated the nurture email sequence with more value based and educational content
  • Split tested different funnel landing pages that place the offer further up on the page
  • Surveyed membership purchasers to figure out what key value pieces attracted them
  • ​Target directly to Membership Webinar pitch instead of using the challenge. 

The Results:

After testing these changes to the customer journey we were able to increase the conversion rate to our original projected numbers. 

Davenport's membership funnel is now breaking even and continuing to add recurring revenue each month. We also saw an increase in customers purchasing higher priced products from these changes.

Takeaways:

Aim Before You Fire

Know what your sales goal is to begin with. Then work backwards.

How many sales or members will you need? 
What percentage of leads normally convert? 
This will tell you the number of leads you need.
What is the average cost per lead?
This will tell you what your ad budget should be.
Is this a feasible budget or do you need to adjust?

Often times we work with clients who launched their campaigns before knowing their numbers. Without them you won't know if you're on track and your data won't be relevant to your goals..

Your Data Should Tell A Story

Each time a customer takes an action in your funnel you should be tracking a key performance indicator. This way you can break your customer journey down in to steps and find where the issues are. 

For example, if your cost per lead is too high then you need to look at the beginning of the customer journey. Is there an issue with the ad messaging or images, is the ad pixel reporting properly?

If your cost per purchase is too high then look further down the process for problems. Is your offer priced correctly, does the landing page answer customer objectives, do you have social proof?

It's A Long Game

Most Facebook and Funnel Gurus will have you believe that you can test one funnel and become an overnight millionaire.
This is not true and that's the beauty of having a marketing strategy.

Marketing is all about testing and numbers. You can never be 100% certain that an ad or an offer or a funnel will work the first time. That's why it's important to split test each step of your customer journey, so that you can see what areas need improvement. Even when you have a strategy that is working, you can always keep testing in order to optimize it.

Keep in mind that things change in the digital marketing world (often) such as, algorithm updates, new competitor offers, or new advertising software. Through accurate reporting and consistent testing you will set yourself up for long term success and impact.

Don't be discouraged and don't give up if something doesn't work the first time. It's never a question of if marketing will work for you, but only when marketing will work for you. And that is up to how strong your strategy is.

GET THE

Powerhouse Team

BEHIND KEN'S CAMPAIGNS WORKING ON YOUR MARKETING!

© Hirsh Marketing