It probably won't look much better having used only the clay bar. In fact it may actually look a bit worse depending upon how abrasive the clay bar is (CM is pretty mild), how dirty the vehicle is and how frequently the clay was folded or exchanged. Many people notice more swirls once clayed particularly on a black vehicle.
I don't want to be all inclusive with my last comment. On a light colored car that had heavy surface contamination or a dark color vehicle that is oxidized, you will of course see some improvement. When you get the hang of claying the car you will likely not notice additional swirl marks following that step of the process.
Once clayed what you should notice is that it will feel much smoother and is now properly prepped to polish. Once it has been properly polished is when you will begin to see a big difference. The application of the Last Step Product (LSP) is when the greatest visual difference will be recognized, that's when it will POP.