Hey ya'll, got a funnel question. I'm just getting started with setting up a funnel to collect email addresses and generate leads. Plan is to drive traffic to a landing page and follow up with an email series. Then I'll measure the engagement of the emails and the landing page to measure the success of the funnel. I've heard that setting goals for how many engaged leads I want is a key part of this. Thing is, I'm not quite sure what a suitable goal would be. I.e. how many engaged leads is a good number. If anyone is familiar with this, how would you choose an appropriate goal? We haven't actually launched yet so we're aren't crystal clear on what the value of a lead is yet, or customer lifetime value. Anyone got any tricks?

Hey Robbie, rather than focusing directly on the number of leads, I'd recommend focusing on refining the process to get folks into (and through) your funnel. Depending on how you're driving traffic, there are several metrics to watch, so you aren't wasting money and effort unnecessarily. If it's PPC traffic, I'd recommend focusing on your ratio of impressions to clicks (your CPC and CTR numbers). Once you know that you're speaking to the right audience, and that they like your message and can navigate your funnel without issues (both of which can take some time to perfect), and how much it costs to obtain a single lead, then you can set your goals for X leads in Y period of time. Your sales efforts will determine how many leads you need to close Z number of sales. Just extrapolate and adjust from there.

Ah thanks! ok so is it worth only creating a really simple funnel then? Simple landing page and maybe just a follow up email? Then can focus more on acquisition, get that dialled in and then build a proper funnel?

Yeah, best to start simple.

great, thanks, good to know!

Hey Robbie! This early stage, honestly metrics don't matter as much. You need to get logos, and what you need to do to achieve that at this point is just not scalable, so your metrics don't matter as much. However, it's still good to have a ballpark of how many leads you'll need on the top of the funnel to identify when to change your strategy faster. The way to do that is do the reverse path - What's your revenue goal (even if you're pre-revenue), how many logos you'd need for that based on your price (or target price if pre-revenue), how many new meetings you'd need for that, and so on.