Knowing how many people must check you out to get a SALE makes decision making much easier!
If you speak to any Marketer (especially a Persian Pro Trump one like me) you will often hear that ‘Conversion Rates’ are a big part of what we use.
This is key part of how we think in that to work out how much money you are likely to make, you really want to know this crucial piece of information and how it applies in your business.
Conversion Rates tell you how much activity you need to get a sale and it gives you an opportunity to improve your conversion rate to get more high value clients.
Using myself as an example, meeting people one on one has been a key part of my business growth. Be it I meet someone at a Networking event, they find me through Facebook, LinkedIn or my Blog; ultimately, I am going to meet them.
When I started out my conversion rate was very much on the low side. To get one client, I would have to meet say 7 people. This means my conversion rate is a simple 1 / 7 = 14%.
As time passed in my business, it increased to about 20%. These days it’s almost 1 out of 3 meaning my conversion rate is 33%.
This naturally increases as you learn how to sell better, get more established and people just love you! This knowledge however is very important in my own thinking. Right now, I like getting at least 1 new client a week from this avenue, so if I meet 3 people a week, that means a new client!
Also in other areas of my business I have online clients coming through, Email Newsletter Click through rates and lot of other numbers to help guide my thinking.
My advice and thinking? Think about the actual activity you do and how much as a percentage converts to clients for you. This can help you identify problems (e.g. you have a poor conversion rate) and it give perspective on how much Sales Activity you really need.
In my case it’s driven to make my workshops and online even more powerful. In those cases I have people becoming clients without ever meeting me one on one which is a great time saver for everyone involved.
Really think through how much work it takes for you to get the clients you need and scale that activity accordingly.
Love your work, thank you for the read and happy winning friends!
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