I was Completely Out of Breath…
I walked to the beach the other day and decided to take on a super steep set of stairs to get there. When I got to the bottom I was proud of myself that I made it and wasn’t breathing very hard at all. So I continued to walk around down on the beach until I was good and tired. Hmmm. Good job! A nice Sunday afternoon workout.
Unfortunately… I patted myself on the back a little too early. It was only when I turned around and looked UP those steps did it dawn on me… “Oh no! I’ve got to get back UP those steps!”
Oh my goodness, it’s a good thing you didn’t see when I FINALLY made it back to the top! I was completely out of breath! How embarrassing! All I did was WALK up those steps. I didn’t even attempt to RUN up them! Sheesh!
On my way home, I got to thinking…
Is your marketing out of shape?
If you’ve ever experienced the joy of watching your weight, you’ve probably seen many of the popular programs available. These programs spend millions of dollars developing new and innovative ways that help people achieve their desired goals.
In a nutshell, they help you keep an eye on what you eat, the calories you take in, how much you exercise, etc. They track it and they evaluate. Why do they keep track of all that? Because it works! Millions have achieved their goals using their system.
Are you keeping track of the interaction you have with prospects and clients? I have a tracking worksheet next to my phone that helps me track the statistics I’ve listed below and why it’s important to do so.
1. Number of calls received = Your starting point.
Keep track of how many calls you get every day. This is the baseline for all your statistics.
2. Number of appointments made = Your appointment conversion rate.
If you are getting 20 phone calls and only one has converted into an appointment, then we need to talk about your ‘appointment system’. This could include polishing your phone skills, reviewing your goal for the phone call, what you are saying, how you are saying it and what your entire process is on that first phone call.
3. Number of sales won = Your sales conversion rate.
How many appointments turn into sales? Again, like with the appointment conversion rate, if you go on 20 appointments, and do not get a single sale, something’s wrong. This is where we would review your ‘sales system’ to see where things are breaking down. It should not take that many appointments to win a sale.
4. The dollar amount of each sale = Quality vs Quantity
Keep an eye on the size of the sale and track where the best quality leads are coming from. That lead source will also be where you’ll want to turn more of your time, energy, focus and investment.
5. How they found you (internet, referral, networking, etc.) = What’s working?
What marketing strategies are effective? If you find that you are getting 10 calls from LinkedIn and 1 call from the print ad you are running, that’s a clear indication to change up your marketing mix. Consider stopping the print ad, and increase your online exposure with more ads on LinkedIn.
By tracking the steps above, you’ll be able to clearly see the secrets to transforming your bottom line. You’ll know what’s working and where your time and money is best invested. If you found this informative and think you could use some help with any of these steps, send me a quick email right now. And let’s talk about working together so you can start getting more clients!