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Sales Conversion Funnel for Higher Education
Using airSlate SignNow to Optimize Your Sales Conversion Funnel for Higher Education
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FAQs online signature
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What is the standard sales funnel?
Sales funnels guide potential customers through a series of stages: awareness, interest, decision and action. These stages help you filter out unqualified leads and focus on nurturing and converting qualified prospects into paying customers.
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What is the marketing funnel for university?
The enrollment funnel has typically been separated into several stages: awareness, interest, consideration, intent and inquiry. But it's a misconception to think the marketing funnel stops at the point of inquiry.
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What is a student recruitment funnel?
The enrollment funnel is a metaphor used to categorize the stages prospective students move through on their path to enrolling at a university. The funnel has historically functioned as a useful model for enrollment planners seeking to develop the best recruitment strategies for each stage of the admissions process.
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What is the enrollment funnel for admissions?
The admissions funnel is the steps prospective students take in their enrollment journey. It could be thought of as a guide for recruitment efforts, helping enrollment managers better assess how to interact with potential students.
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What is the ideal sales funnel?
Good sales funnels must have a customer-first approach. The best place to start when creating or optimizing your funnel is researching your prospects' recurring problems, questions, behaviors, and decision-making processes. Make sure you take the time to understand your audience or audiences.
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What is a good sales conversion percentage?
Research also concludes that around 10% is a good sales conversion rate with the average conversion rate across industries being 2.5%.
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What is a good sales funnel conversion?
And here's what they had to say about a good funnel conversion rate. Around 30% of our respondents agreed that 3.1% – 5% is a good funnel conversion rate. A small percentage of respondents, around 18% of them, think that 5.1% to 8% and 1.1% to 3% is a good funnel conversion rate.
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What is the average sales funnel number?
The average drop-off rates for each sales funnel stage can vary depending on the industry and target audience. However, studies have shown that the average drop-off rates are around 20-30% for the awareness stage, 60-70% for the interest stage, 80-90% for the decision stage, and 95-99% for the action stage.
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[Music] hello everyone and welcome to educational Wednesday this week we're going to show you how to track a funnel in ga4 my name is Ron Sheran I with marketing for higher education where we help colleges and University marketing teams learn measurement so they can increase their marketing results everybody starts with a framework and everybody starts here marketing the Blind and everybody wants to get here where they can reliably predict their results there are four parts to the framework the first part is your planning which is the mostly crucial part because if you don't know where you're going how are you going to get there and it's the same with measurement you need to know what questions you want answers to before you can get the answers so you think about the questions you want answers to the information you're going to need to collect to get those answers and what action you will take once you have those answers then once you get those questions you're going to start to measure your results of those questions and you're also going to going to measure your traffic the who the what and the why who is sending you traffic what type of traffic are they sending you and why are they sending you that traffic and then you're going to forecast another most important step because if you don't forecast how do you know if you hit your goal or if you didn't so forecasting becomes very important anytime you start a campaign you want to predict the results you're going to get that way you know if you did it or if you didn't do it and the most important thing is you want to know why you did didn't do it or why you did do it and then last but not least is the optimize where everybody wants to be they want to optimize their conversions and when it comes to optimization the most important thing is meeting your prospective students expectation so let's jump into it and learn how to track a funnel in ga4 before we go over to ga4 I just want to show you what we're tracking this is our demo site so last week we learned about single sing Le page measurement where you learn to measure what we call vertical where you're measuring when somebody lands on a page how long they stay on a page how far they scroll down whether they initiate by clicking into a form field and whether they complete by doing the form field but today we are going to measure what we call horizontal measurement when you're measuring somebody across your website so they they go from page one page two to page three page four if you have a funnel maybe set up where a landing page another page then to another page so on this one we're going to click on goal one which that would be the first goal and then step two would be going to another page up here would be this page and then the third step would be to another page and then the final step would be to a thank you page so that's what we would be measuring now we're going to jump into ga4 okay here we are in our G4 demo account and we're at the homepage and we are going to click over here to the explore section and here's where you're going to set up your funnel exploration there's two ways you can get here you can click on a blank form and come over here and hit funnel exploration and then you would be right where you want to be or you can just click on a funnel exploration right here and it will automatically bring it up but it will bring up something already filled in that looks like this and all you have to do is come down here where this pencil is and hit all these X's and we're going to get rid of the dice device category because we want Total users and now that we got everything clean we are going to hit this pencil and we're going to come here and we're going to start building our four steps we're going to call this one step one and I will just copy this to make it easy and we're going to add a condition it's an event and it's demo goal one and then we're going to add the next step and this is going to be an event also and it's going to be demo go to and then we're going to add another step this will be step three and and we're going to add another event and you guessed it it's going to be demo go 3 and then we're going to add the last step which is going to be step four and the new condition is going to be the event and it's going to be demo go for so now we got the four steps of our funnel and we're going to hit apply and as you can see brings up the four steps of our funnel so here it's telling us that 31 people landed on the page on page one and then from page one to page two was 28 people so there was a 99.7% drop off and then from page two to page three there was a 60% drop off okay and 17 people went to step three and then to the final page only nine people made it and it was a 53% drop off from step three to step four now down here you're going to see the same thing from step one to step two 90% people made it from step two to step three 60% people made it from step three to step four 52% of the people made it but the most important thing is in parentheses over here where we see a 100 PE 100% of the people landed on this page then on page two only 90% people landed on page three only 54% of the people landed and on page four I'm sorry this was page three on page three 55% of people landed and on page four 29% of the people landed so this is gives you the overall results and this only gives you the results from the previous step so that is how you track a funnel in G4 remember the one thing is you already have have to have these steps set up either you know collecting them in G4 or using Google tag manager to collect them but the only way you can build them is if you already have them set up okay that is going to wrap up this week's educational Wednesday and as you know every Wednesday we put out free content and if you have any suggestions please let us know we would love to hear them and if you also want to subscribe just just reach out to us at marketing forh highereducation.com forss subscribe or we have a little shortcut here at mh. tips forwards subscribe and as we mentioned any suggestions that you want us to discuss please let us know and we'll try to get to those topics in the future also if you have any questions about your own measurement please feel free to reach out to us and we'll help you any way we can you can reach me at Ron at marketing forh highereducation.com and either myself or a team member will reach out to you that is going to wrap up this week's educational Wednesday track and funnels in G4 we'll see you next week
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