Know your conversions!
Know your conversions!
When I am working with clients so that we can convert more sales, I start by understanding your business management process and essentially, identifying your conversion rates.
This is because I want to build a picture of the best opportunities available right now and to see how many contacts we need to talk to in order to get a sale.
At this stage, there are 3 conversions I want to know:
1. Leads – how many contacts do you currently communicate with to give you a lead?
2. Meetings – how many leads do you need to engage with in order to secure a meeting (specifically about your products or services).
3. Sales – how many meetings do you need to have to get a sale?
When we know these 3 conversions, we can use reverse planning to check if the desired outcome (the result) is likely to happen within the timeframe, and then plan how we are going to achieve business growth.
