If you’re not tracking your numbers or know your numbers of your business then how do you know how you’re converting the leads you’re getting?
It’s not always a leads problem.
I have got to give you some real truth here. When I talk to businesses, typically they tell me they say, “I need more leads. I need more leads. I need more leads.” When we dig into it, they don’t have a leads problem. They have a sales conversion problem.
There is typically a breakdown between when a lead is identified to when a sale is tried to be made. There are actually about 4-5 steps in that process where conversion matters. It’s in the conversion where most businesses have a problem. At the end of that conversion funnel is the actual sales conversation. When sales aren’t made to the level they want, instantly they say, “Well, I don’t have enough leads,”
Let’s say a business gets 10 leads but they’re only converting two of those into sales.
Yeah, I would think that I have a leads problem, too. If I want to make 10 sales, then I need 50 50 leads! That’s a lot of work.
What if you recognized that you had a sales problem and you fixed the conversion? When that lead comes in, you’re now converting double that, and so you go from two out of 10 to four out of 10.
You’re spending the same amount of money on your marketing, but you’re getting double the result. Imagine that, over and over and over, you doubled your sales in a matter of just an instant by understanding the sales process.
Of course, the first thing to look at before you spend any more money on marketing is to understand how you are converting leads into prospects, prospects into clients, and retention, and then referrals as well, but you have to track each part of the process along the way and how you’re converting otherwise you’re not going to know.
I have a really cool spreadsheet that keeps track of that, so I keep track of the leads that I have coming in. I keep track of those that have been contacted, and then those that have scheduled an appointment, and then those that show up for the appointment, and then the sale, so those are five buckets that I keep track of and, when I look at those on a regular basis and I’m tracking it, then I know if there is a conversion problem and where I need to fix it.
I ask my clients to track as well, that is the only way we can address and fix the issue… if there is one.
It all starts with connecting with the leads which come in … if they’re not getting them on the phone? Obviously, the follow-up, follow-through process isn’t working. So we concentrating on the follow up and follow through of leads.
Perhaps the problem is that you’re getting these leads to come to a consultation and have a sales conversation, but you’re not converting them into actual clients. Then we know there’s a sales process problem, and we’ll work on that.
It’s as simple as that. It’s keeping track of that process…,
We won’t know what the problem is unless we drill into the whole process and figure out where in the process is broken and then we go in and fix it.
My suggestion to you is to set up a spreadsheet where you’re keeping track of those leads coming in, the people that you’ve contacted, the ones that have scheduled a consultation, and the ones that show up for the consultation, and then the ones that actually buy. You have those buckets set up and you can look at the percentages, and then start increasing the conversions from one bucket to the next and, before you know it, you’re doubling, tripling, quadrupling your sales with very little effort.
It’s really awesome when you’re increasing revenue, but not spending any more money trying to get more leads
Check out the content I have on Youtube. I’ve recorded over 200 videos on sales, customer service and storytelling.
All of this advice is part of my full program on Impact Selling… want to chat about how to double your sales? Schedule an Impact Call at no cost here: www.TomJackobs.Com/Impact
