The trends in sales enquiry and sales conversion will always help you with developing and implementing a good business strategy. Those salespeople that really know their way around numbers and ratios will usually rise to the top of their business faster than others.The fact of the matter is that numbers tell us things that are very useful; you can then adjust any prospecting and marketing activities that are not converting the business, and improve on those that are getting good results.
Here are some of the numbers that we track when it comes to business growth and levels of activity:
- Find out where the enquiry is coming from. If you do a lot of marketing in various channels of the media, work out what works and what doesn’t when it comes to marketing. They call the process ‘test and measure’. Do more of the things that attract the best levels of enquiry.
- If you work with or are in charge of a sales team, watch the sales and business conversions of all of your salespeople and then compare them. Some of those salespeople will be better than others when it comes to building momentum and sales. In many respects the results can be driven by the salespersons sales character and personal systems. If something works well for one salesperson, replicate it and spread it across the team.
- Do you keep specific numbers relating to your prospecting activities? The numbers to know and check on a weekly basis should be calls in and out, meetings held, sales made, and time involved in the sales cycle. Some businesses have very long sales cycle; all the more reason to have a ‘sales pipeline’ process.
- When you create a client relationship, the next step in the business cycle is to strengthen the sales relationship so you can sell them more product or services over time. Some of those clients will be of a Key Account nature; on that basis they will require the attention of your best people and client services.
- Lastly something should be said about ‘referral business’ and the obtaining of that business from existing clients. Do not overlook the opportunity here. Your existing clients know other people and on that basis some new relationships can be opened up.
When it comes to building a business or market share, systems work every time. This then says that you should develop a system of approach at a personal level and then make it a habit in your daily activities. When you make it a habit, you can improve it and that’s how results come in. Many salespeople struggle with the fact that ‘systems’ are required to help them achieve better success in their industry. If anything, that then makes it much easier for others that can develop a good approach to business with well-developed systems.