Are you thinking about building a webinar funnel – but you don’t know what’s realistic in terms of conversion rates and profitability?
Or do you already have a webinar funnel and you’d like to know how your numbers compare to other people’s?
That’s exactly where I was a few years ago.
I had built a webinar funnel, I knew what my numbers were for each step in the funnel, but I didn’t know any webinar benchmark data – so I didn’t know which steps in my funnel were good and which ones were bad. This meant that I didn’t know where to focus my time.
I, therefore, started collecting data on how other people’s webinar funnels were doing. I got nosy. I read blog posts. I listened to podcasts. I asked friends (those of my friends who also do online marketing, otherwise that would be silly).
I collected a ton of data. I got so good at spotting where in a funnel needed improving that I set up a business helping people to build and improve webinar funnels.
Today I’m going to share with you what good benchmarks are for each step in your funnel.
The numbers I’ll share with you in this post are from my own funnels (I build webinar funnels). They’re also based on numbers from other people’s funnels (I do consultancy for others on how to improve their webinar funnels).
Why does webinar benchmark data matter?
I mentioned this above, but let me explain it in detail. It’s important.
Do you ever feel like you have 1000 things you could be doing in your marketing, but you don’t know which is the most important?
Or that you work on improving your marketing funnel but don’t know if what you’re doing is a big deal till after you’ve done it?
Well – benchmark data can help you with that.
We all know the classic marketing funnel. It looks like this, right?
We pour traffic in the top, and lovely money comes out the bottom.
But in my experience most funnels are more like this:
If you know benchmark data then you can figure out which step in your funnel is the biggest hole in your metaphorical bucket. So you can plug that one first.
Ok – so let’s have a look at how webinar funnels work.
Steps to a good webinar funnel
Before we get into benchmark data we need to know what steps to look for. There are several steps to a good webinar funnel for selling online (e.g. an online course):
- Landing page conversion rate
- Cost per lead
- Attendance rate
- Completion of webinar
- Percentage watching replay
- Attendees to sales
If you’re selling something over the phone then the last few steps are different. Instead of attendees to sales you’re going to have:
- Percentage booking calls
- Percentage attending calls
I’m going to give you details for each step explaining what is a normal range, and even what exceptional looks like.
If you want to see this all mapped out visually you can watch this video where I map out the ideal webinar funnel.
Landing page conversion rate
One of Leadpages’ Amazing Webinar Landing Pages
A good landing page is going to convert at 30%. An excellent one will be slightly over 50%. I’ve seen lots that convert at 20%, and some that are nearer to 60%. So that gives us a huge range.
If your landing page is down at the lower end and you want to improve your conversions then I suggest that you go through this landing page checklist.
Cost per sign up with FB ads
This will vary by industry but it’s normally $5-10 per sign up. I am working on funnels with a cost as low as $3.50.
In order to get to the lower end you need really good FB ads and a really good landing page with 40-60% conversion rate from click to sign up.
If your webinar registration is coming in over $10 then there are a couple of places to look – your Facebook ads and your landing page.
Live attendance rates
The percentage of people who register for a webinar and then actually attend live tends to be from 25-35%, I’ve had it as high as 55%, and I’ve got clients now with that kind of level. So that’s possible but difficult.
- If your live attendance rates are at 30% or lower then you’ll want to look at the following:
- Do you have reminder emails (Demio has these built-in by default)?
- Do you have pre-framing emails before your webinar to get people excited about attending?
- Do you have an add to calendar button on your confirmation page and in your reminder emails (Demio has this).
- Are you running your webinars at convenient times
- Have you tried automating your webinar – by having more times you can increase attendance.
Webinar completion rates
Somewhere between 75% and 90% of people who start your webinar will typically finish it.
If you’re at the lower end then things to look for are:
- How engaging is your content?
- Are you doing a great job presenting, getting people excited and delivering some really good information? You need to sound excited as the presenter.
- Do you use engagement tools like polls (Demio has these built in)
If you also promote a replay to people who didn’t attend then you can normally get an additional 15% of people to watch the replay.
The replay feature in Demio
If your number here is lower then things you can:
- Set up a replay (Demio has this built in)
- Connect your webinar software with your email automation software, and send emails to people who don’t attend live (Demio integrates with a bunch of email providers)
- Set up a custom audience in Facebook and retarget those who don’t attend the webinar to send them the replay link
Percentage of attendees who buy
A decent range for this is 5-15%. I’ve seen people with as high as 20%. I know that’s a pretty big spread – but depending on the price of your offer what’s good will vary considerably. If you are charging $1000 and have a 5% conversion rate then you’re making about the same revenue as someone with a 15% conversion rate charging $300.
If your number here is lower then you might want to look at:
- Your offer – is it good enough?
- Are you pointing people back to the sales page with post-webinar emails?
- Are you running a testimonial-based retargeting campaign?
- Are you running an abandoned cart email and retargeting campaign?
- And of course – is your webinar presentation in line with best practice?
Percentage of registrants who buy
Ok – this is a tricky one.
This is a really tricky number because it’s dependent on all the previous numbers combined. Plus it depends on the price of what you’re selling, the quality of your webinar, your retargeting FB ads, your follow up emails and a bunch more!
I’m going to put a number out there and say about 2-5% of registrants. I’ve heard Russell Brunson talk about webinars with 10% of registrants buying before – but I’ve never got that high myself.
If your number here is low then you need to go back through all the other steps and figure out where you’re losing people! ☺
Let’s look at how this might play out.
If you spend $5 per lead, and 35% of people turn up and 10% of attendees buy and you’re charging $300 for your online course then you’re going to spend $142 to make a $300 sale. That’s 2.1x ROAS (Return on Ad Spend). So that means for every $1 you spend you’re making $2.1.
You can run that funnel all day long.
However – if you spend $10 per lead, and 25% of people turn up and 5% of attendees buy and you’re charging $300 – then you’re going to be spending $800 to make a $300 sale.
You better make some improvements to your funnel or you’re going to go out of business real fast!
What if you’re selling on the phone?
If you’re selling something over the phone then the last few steps are different. Instead of a percentage of attendees who buy you’re going to have:
- Book calls
- Attend calls
You normally use this approach if you’re selling something over $2000. That might be an online program, marketing services or some other service.
A pretty standard range here is 10-25%. I’ve got as high as 30% before and once I saw someone with 55%.
If you’ve got a good completion rate, but not a good percentage of people booking calls then you need to look at:
- Your offer, and whether it matches well with your webinar (and vice versa)
- How well and confidently are you telling people to book the call
- How easy is your call-booking process (Calendly’s a great option)
Not everyone who books a call on your webinar will actually attend the call. Which can be annoying. A good percentage here is 70-80%.
If you’ve got a lower percentage of people attending calls then things to check for are your reminder system:
- Add to Calendar button on the confirmation page after they book
- A confirmation email with an Add to Calendar button
- A reminder email several hours before including a way for them to reschedule
- An SMS message 15 minutes before
This will obviously depend on what you’re selling, and how much it costs as well as how well you do the sales call. But a reasonable range is 20-50% of people you talk to on the phone buying.
If you’re below that, or at the lower end of the range then you need to look into the quality of your calls – and that’s really a subject for another day.
View the ideal webinar funnel map
I’ve mentioned a ton of different tactics throughout this thread. And to help you to understand how they all work I’ve made a video explaining all the steps in an ideal webinar funnel whether you’re selling online courses or selling services by phone.