Understanding your Sales Ratios

All good sales people know how many appointments they need to see to make a sale.

Good businesses take this a step further and understand how many prospects they need to attract so they can then create sufficient interest within these prospects to ensure they have the desire to take action and become customers. It’s called the AIDA principle:

Understanding your Sales Ratios

Knowing these simple ratios keeps everyone on track to achieve your business targets and critically highlights any bottlenecks and problems to address.

Typical problems are a failure to attract enough prospects to convert in the first place (NB not everyone is ready to buy) and probably a greater sin is a low conversion rate that is normally due to giving up too early, remember prospects may just be saying not now rather than not ever!

Once you have these figures, and the target sales you need to make you can ensure your marketing programmes are generating enough prospects on a weekly or monthly basis to achieve your target.

Know your customer

Who are your existing customers, and who are your ideal customers?
They may or may not be the same.

Spend time with your team – and your existing customers – researching what they really need, as opposed to what you think they need. List the products and services you offer to meet those needs. You may be able to create new ones, or package your existing ones together.

Identify the clear benefits of these services, particularly how they stack up against your competitors, and make sure these stand out in all your marketing communications.

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