When you talk to business coaches or sales managers about increasing sales, you will generally see a formula like the one that follows
x Average Ticket
x Number of purchases by customer
And that makes a great deal of sense. What is interesting is in almost every case the company wants to start by increasing the number of leads to get to a better margin. When in fact, the fastest way to increase your revenue is to
increase your conversion rate (closing percentage). Not only is it faster, it also costs a lot less money, and can be a one day fix.
Here is a good video by Brad Sugars on what ActionCoach calls the 5 ways. He does a great job of explaining how working with those 5 numbers can massively increase your revenues. In his example he talks about increasing leads and conversions 10%. In our experience many of our clients see a 50% to 100% closing percentage increase. ( From 25% to over 50% as an example).
I will be following this up with information about specific how you can have a higher closing and conversion percentage in blogs next week. We call it a conversion meter…. and it will tell you how much opportunity you have to improve!
As for more leads….. SEO in Denver works very well for that. See more about us on our main site.
- About Sales Techniques (thinkup.waldenu.edu)