Why do you need to Understand your Sales Conversion process? Why do you need to know how much does it cost to get a lead? How much does it cost you to get a new client? Well, Marketing is a numbers game. And if somebody tells you otherwise, don’t even engage with that person.
Getting New Leads is one of the easiest things to do. And there is so much information on ‘how to…?’ out-there on the web. But the key in growing your business is learning how to sustain them, in other words create a process detailing every step from acquiring a new lead until you turn them into a client. Otherwise, if you don’t have a system, you will end up spending a lot of money on getting new leads every time your business goes through a dip. If you develop a smooth and detailed system, you can use it as a tap. Meaning you turn the tap on when you need more leads, and you turn it off when you don’t need more leads. It’s like opening the tap when you need water, and turning it off when you don’t need water anymore. So before you head off to invest money into a new marketing campaign, ask your self these questions:
- How much does it cost you to get a lead?
- How much does it cost you to get a new client?
- How many phone calls do you need to take to get a client?
- How many people need to visit your website before they become your clients?
- What are your conversion rates?
- How are you attracting leads? In what way?
- How different is your content from your competition?
- If you use Facebook Advertising what type of Ads work the best for you?
- Are your Google Ads campaigns optimized, meaning are your trigger words relevant?
- If you get sales online what is your website loading time?
- What sales funnels do you use?
- What happens when you get a lead?
- How do you respond to an enquiry, in what way?
- How long does it take you to respond to a lead?
- What exactly do you say?
- If your lead didn’t convert into a client, what is your retargeting strategy?
- What is a follow up strategy with existing clients?
- They became a client, now what?
- What is your referral Strategy?
As the famous author says…
The future of marketing isn’t Big data, it’s Big understanding.-Jay Baer
So what’s the conclusion?
If you been running your business for a while and don’t have answers to the questions above, that’s your starting point with Marketing. People confuse Marketing with Brochures, and graphic design, and ads. But the reality is there is no point in doing Marketing if you can’t measure results. Otherwise, you end up spending a lot of money aimlessly. And you doing marketing might look like you running around like a headless chicken. Not knowing where to spend, what to say, and how much does it cost you? Or will it even bring you results? And that is why, your accountant is terrified, when you tell them you need to spend money on marketing. Because you don’t show them measurable results and a return on your investment!