With the Leads Insights dashboard, you are able to track data on all of your potential clients. Included is information about the new leads created, their demographics, conversion rates, and your conversion process. You can access the Leads dashboard from Wodify Admin under the menu Analytics > Insights > Leads.
In this article, we will cover:
All Leads
1. New Leads
How it's calculated: The sum of all new leads created in the set time period
What it means for your business: A metric of how many leads are entering your business’s lead funnel
Note: This includes every lead profile created, even if it has been transferred to a client profile or later deleted/disqualified.
2. New Lead Demographics
How it's calculated: New Leads created during the set time period broken out by age and gender.
What it means for your business: This provides details about the types of leads that are coming in. Are you getting lots of 30- 40-year-old males? Should you focus more on 50 - 60-year-old females?
Note: This includes every lead profile created, even if it has been transferred to a client profile or later deleted/disqualified.
3. Viable Leads with No Action
How it's calculated: All leads created during the set time period that have not been disqualified, deleted, and have not attended a class in the past 30 days.
What it means for your business: These are leads that may be dormant. You may want to consider reaching out to these leads to get them converted into clients.
Lead Conversions
1. Lead Conversion Rate
How it's calculated: The number of leads created during this time period that have since been converted divided by the total number of leads created in this time period
What it means for your business: This is a metric of how successful your business is at converting potential customers into paying clients
Note: This metric counts any client that was ever converted, even if they are now inactive
2. Average Days to Conversion
How it's calculated: The average number of days it took to convert a lead to a client
What it means for your business: This is roughly the ideal window for converting clients. Once your current leads pass this threshold, they are less likely to convert.
3. Total Leads by Source
How it's calculated: Total leads broken out by the specified lead source
What it means for your business: This metric informs you which marketing tactics are bringing the most leads into your funnel
Note: The source can be set when the lead is created or on the lead's profile. You can create your own custom lead sources under People > Settings > Lead.
4. Lead Conversion Rates by Source
How it's calculated: The percentage of new leads created in this time period that have since converted, broken out by where the lead came from
What it means for your business: This is a metric on the effectiveness of each marketing tactic or source in converting leads into fully paying clients
Best Practice: Use the Total Leads by Source and Lead Conversion Rates by Source hand in hand. Is Facebook leading to lots of leads, but very low conversion rates? - You may need to have higher-touch onboarding practice with these leads. Are leads from current client referrals leading to much higher conversion, but not as many are coming in the pipeline? - You may want to push your clients to refer the business to more of their friends.
5. Lead Conversion Funnel
How it's calculated: The percentage of all leads created during the set time period, broken out by their current lead status.
What it means for your business: This metric outlines where in your lead funnel you are successful / not successful. Do 99% of leads move from the trial class to converted, but only 50% of leads move from a chat with a coach to the trial class? - You may want to spend time training your coaches on that conversation or think about better options.
6. Lead Conversions over Time
How it's calculated: All leads created during the set time period, broken out by the month they were created, and whether or not they were converted to clients.
What it means for your business: This metric shows which month’s leads have been converted to paying clients. Was a certain coach handling leads on a high-conversion month? - you may want them to be more involved in the process all the time. Are your summer months tending to lead to higher conversions? - maybe spend more time marketing during those months.
Lead Attendance
1. Percentage of Leads that Attend a Class within 12 Days
How it's calculated: We look at all leads created in the date range set for the Insight, we then take the percentage of them that attend a class within 12 days. On average, the industry-wide average is that 36% of leads attend class within 12 days.
What it means for your business: We’ve found that leads who attend a class are 2x more likely to convert to a paying member than those who do not. The conversion rate drops for leads who attend a class outside the initial 12 days.
2. Lead Conversion Rate by Class Attendance
How it's calculated: We break down the Lead Conversion Rate (see above) by whether or not they attended a class prior to converting as well as when they attended the class.
What it means for your business: Knowing that lead attendance is important for conversion, this chart can show the importance of those leads attending in terms of the real impact on Conversion Rates.
3. Lead Attendance within 12 Days by Month
How it's calculated: Similar to the gauge chart above, we look at all leads, but this time broke out by when you acquired them.
What it means for your business: This allows you to see how you are trending in terms of lead attendance. From this, you can see which months were better than others and allow you to shift strategy to continually improve and track it.
Data Table
This data table shows additional information about new Leads created during the set time period.
- Converted Leads are highlighted in green.
- Deleted / Disqualified Clients are highlighted in red.
To Export the Data Table:
- Scroll to the Data Table section at the bottom of the page
- Hover over the right-hand corner of the data table
- Click the Download button to export the data as a spreadsheet
If you need any additional assistance with Insights-Leads, feel free to reach out to us at support@wodify.com or via Priority Live Chat in your admin account (Promote only).
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