Scroll down for the summary…
In the last post, we looked at the formula for increasing your revenue.
In this post we’re going to look at the formula for getting more clients or customers. It looks like this:
The elements of the formula
Leads are potential customers
- They know you exist
- They have a problem you can solve
- They’re looking to buy (maybe from you, maybe from someone else, maybe now, maybe later)
- You know who they are and you can contact them! (this part is important)
Your Conversion rate is percentage of leads (on average) who actually become customers
- If for every 10 leads you talk to, an average of ONE will buy from you, you have a 10% conversion rate. If TWO would buy (on average), you have a 20% conversion rate.
- If you don’t KNOW your conversion rate…this would be a good thing to start tracking!
- Your conversion rate is a good measurement of your ability to sell
Want more clients?
- Get more leads – improve your marketing skills!
- Increase your conversion rate – get better at sales!
You can increase both factors and get even better results!
Struggling to figure out where to find clients and how to talk to them? This could help: Your Next Clients