Conversion Is The Key
“Steve (Dr J), I have this problem!”
Funny enough “this problem” is one that I hear over and over again, and it’s “I need more leads” or “I can’t get hold of my leads”
The fact is though, CONVERSION is the key to sales success, NOT more leads! So it’s a false economy if you’re paying for marketing to generate MORE leads if your conversion percentages are currently low.
The key conversion KPIs you must measure are:
- Lead to Contact Percentage
- Contact to Appointment percentages; or Contact to Info/Link Sent Percentage
- Booked Appointment to Presentation Percentage
- Presentation to Sales Percentage; or Info/Link Sent to Sales Percentage
- Lead to Sales Percentage
- Average Yield
It is essential that you enter your data into your sales management program every single day. You must also inspect what you expect, and let your team know their figures are being reviewed on a daily basis.
Sales Fact: The Hawthorn Principle of Sales Management states that if you review your sales data every day, then your sales will increase.
Now that you know conversion is the key to more sales, once you are measuring your data daily, you might start to identify some weakness. If this is the case then you should update and streamline your sales processes and skills to reflect the current, new-age sales environment.
The easiest way to ensure your sales teams are using all your selling tools and skills is to do a Reverse Audit, which is where you review all the skills required by your team members – from asking them for the money, all the way through to handling incoming calls – and then do it backwards, so your sales team don’t switch into autopilot when demonstrating their skills and techniques.
To help you learn more about how to make more sales and grow your business, grab a FREE Sales Growth Plan by clicking here. Or better still, to take a deeper dive into any of the concepts mentioned above, or to find out how you can work with us in 2019/20, send me an email and drop the word “grow” in the subject line.
