Our bakery business currently focuses almost entirely on producing baked goods, which we sell to coffee shops (stable revenue) on a wholesale basis.
The medium term objective, however, is to sell retail with direct relationships with customers (better margins), but no brick and mortar (no geo constraint, lower cost).
A major part of this thesis is that an email list and a strong Instagram presence can drive buying.
As a test to see where we’re at, last weekend we had a popup.
The funnel stats were a little bit disappointing, but gives us a benchmark for the future.
~900 Instagram followers
2 posts about the popup
788 email subscribers
2 emails sent in 2 days
43% open rate (~340 people)
5.5% clickthrough rate (~45 people)
16 prebought through the email to pickup at the popup
10 bought in person
$502.50 in sales (~$19 in average spend)
Not amazing, but not terrible. Of course this won’t scale linearly, but it gives me a rough target that if we want $2500 in popup sales, we need to have 4500 IG followers and 4000 email subscribers.
FWIW, I’m very happy with our open and click rates and it’s a 30% conversion from click through to pre-sale purchase, which is pretty solid.
We just need to increase the size of the top of the funnel.
🤷♂️
You keep using the marketing term funnel. All I can think about is funnel cakes!!!