A good sales funnel will tell you exactly what you need to improve to push your sales and have more people buying your product.
Each step of the funnel usually translates to some action a user must perform, for instance, opening the sales email, clicking on the purchase button, inputting the payment details, etc. Usually, a good conversion rate for the B2C sector is between 2 percent and 5 percent. This is valuable information, but it doesn't tell you much, right? Where are you losing your prospects? Where exactly are they dropping out? The sales funnel, when done right, will tell you.
But what about online courses? Completion rates for online courses are rather low. Given the nature of the online courses, their completion rates might be between 13 percent and 40 percent. Course instructors are always trying to improve the learning experience to push these numbers higher but they are often confronted with the challenge of not knowing exactly what to improve. They lack data. Again, as with the conversion rate for B2C sales, knowing just that is not enough to improve the sales process. They need to know more, they need to know where and when people drop out and give up when doing a course. Deep analytics are the key to success. At Workademy we started tracking on a per-module basis. Course instructors know exactly on which module people are dropping out and can improve the experience immediately, run new experiments, and collect results.