Last version published: 02/09/2021 08:46
Publication number: ELQ-94119-2
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Best Practice Portfolio Performance Improvement Matrix Template
An editable PowerPoint Template and Excel Model to improve the performance of your Eloquens.com published Priced Best Practices.
At Eloquens Academy our objective is to help you grow your reputation. If you are selling Best Practices on Eloquens.com, you must always be looking for ways to improve your monthly sales.
To do this, we've built, in partnership with the Channel SkyRocket, a simple PowerPoint and Excel Model enabling you to map your portfolio of priced Best Practices on three dimensions:
1/ (X Axis) - Level of USD / 100 Views - i.e. the amount of money you make for every 100 people that view the public page of your Best Practice. This is a good indication of Best Practice quality. The higher the better. Three Possible Levels (High, Average, Low), compared to your portfolio.
2/ (Y Axis) - Level of Conversion - i.e. the conversion rate (number of sales / number of views) - over a given time period. Whilst this can also reflect the quality of your Best Practice, higher conversion rates tend to also highlight Best Practices that are properly marketed (meeting demand, great Best Practice description and presentation, reviews etc.). Three Possible Levels (High, Average, Low), compared to your portfolio.
3/ (Bubble Size) - Sales in USD over time period - i.e. the $ you've made per Best Practice over the selected time period.
A quick video demonstrating how to use the model is attached on this page.
The combination of the X-Axis and Y-Axis leads to 9 possible categories of actions:
✅ STARS - High Level of USD / 100 Views X High Level of Conversion -> increase traffic to grow sales (SEO optimizations, bloggers, social media, third party websites, YouTube videos etc.). You may want to check out this Best Practice to increase your visibility: https://www.eloquens.com/tool/lLYTQR/other/eloquens-authors-best-practices-templates/how-to-maximize-the-visibility-of-your-best-practices-on-eloquens
✅ HIGH POTENTIALS - High Level of USD / 100 Views X Average Level of Conversion -> Optimize Marketing (Optimized Video Presentations, Better Screenshots, Upgraded Description, Re-wording of Best Practice title etc.)
✅ PANDORA's BOX - High Level of USD / 100 Views X Low Level of Conversion -> Increase Marketing (New Videos, New & Better Screenshots, Longer Description, Re-wording of Best Practice title etc.)
✅ UNDERPRICED STARS - Average Level of USD / 100 Views X High Level of Conversion -> Optimize Price (Try increasing Price by 10 to 30%, adjust differences in prices between licenses)
✅ STRONG PERFORMERS - Average Level of USD / 100 Views X Average Level of Conversion -> Optimize Price, Marketing & Best Practice
✅ UNPOLISHED GEMS - Average Level of USD / 100 Views X Low Level of Conversion -> Upgrade Marketing & Optimize Best Practice (Quality of Content, Explanations, Layout, Colours etc.)
✅ NEW GEMS - Low Level of USD / 100 Views X High Level of Conversion -> Increase Price (Try increasing Price by 50 to 200%).
✅ RAW GEMS - Low Level of USD / 100 Views X Average Level of Conversion - RAW GEMS -> Upgrade Best Practice, Optimize Marketing and Increase Price. You may want to check this Best Practice: https://www.eloquens.com/tool/3BJwSy5K/other/eloquens-authors-best-practices-templates/how-to-craft-and-write-a-great-best-practice-for-your-eloquens-channel
✅ DOGS - Low Level of USD / 100 Views X Low Level of Conversion -> Upgrade Best Practice or Unpublish (Kill)
By mapping your portfolio of Best Practices, you will have several Best Practices which can serve as examples (in terms of pricing, marketing or simply quality of content) for all future upgrades or publications.
IMPORTANT NOTE: as Conversion % and USD/100 views vary between channels, don't forget to make the axis visible again on the Excel Model. Then, adapt the max and min values so that all your Best Practices are mapped correctly.
Should you have any questions on this model or need help in doing the analysis, you're welcome to reach out to us via Private Message.
- The Eloquens Academy Team
This Best Practice includes
1 PowerPoint Model and Associated Excel Model + 16 step-by-step Offline & Online Methodology
Eloquens Academy offers you this Best Practice for free!
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