Day 3/38 Lettuce Evolve Kickstarter
We wanted to switch things up today and share how you can be a part of the #LettuceEvolve movement. (No cost to you)
Referral Funnels
Now this may be a term that my fellow business minded people are familiar with however, it’s not by any means something you need to be embarrassed about if you do not know. :P
Referral funnels are the process of showing a current customer (or current friend) a referral call-to-action to the last step of getting the sale (or new backer).
It’s basically a breakdown from initial impression to revenue.
There are (2) funnels: advocate and friend funnel.
Advocate Funnel:
- Advocacy Rate: how many advocates share
- Share Rate: how much advocates share
- Potential reach (audience/fans/followers/friends/homies)
Friend Funnel:
- Friend Click-through Rate: how many friends click on those shares
- Friend Click: Conversions
What does this mean?
We need you, period. Our goal is $100k but our vision is beyond the money. As one of our friends from Twitter had said earlier, #LettuceEvolve is a lifestyle not just a product. We want to not only be in the “Successfully Funded Projects” (see below) with $100k raised but we want to bring urban gardens to the masses. In order to do that, we are going to need a lot more than $100k later but one step at a time.
If you have an average of 400 friends on Facebook, 200 followers on Twitter, and 400 followers on Instagram — assuming the average reach rate on each platform is 10% — one hundred people would be exposed to three posts from you.
Now multiply that by 5 weeks — one share on each platform each week of our campaign — well that would be at least (being conservative here) — five hundred total people (impressions/potential backers/investors/friends).
3 shares/wk X 5 weeks =15 total shares = 500 organic impressions = you
Advocacy/engagement > eating your budget
We know financial times are difficult. We understand. We don’t want you to reach above your means. This is one of the reasons why we’ve secured the lowest price possible to make it available to the everyday person. This earlybird price will not last for long so let’s spread the word!
What’s Going On Right Now?
Another day, another backer! We now have 17 backers and just pushed past $3k.
Day 3 is over and day 4 has just begun! We are going to make this happen together. Thank you to everyone supporting us thus far, we wouldn’t be here without you.
#LettuceEvolve
Reference Article: http://www.extole.com/blog/4-key-funnel-metrics-from-400-referral-programs/?utm_campaign=Submission&utm_medium=Community&utm_source=GrowthHackers.com
