- Ask every single sales person to map out the process, they personally follow, for every way to market and include the conversion rates for each stage; there may be an agreed process but people are people and will do things slightly differently so its useful to know what these are – especially from the most and least successful sales people in the business.
- Compare the different maps and agree a strategy that’s to be followed for every single person for every single way to market. As new ways to market are added map out the process and add the conversion rates as the processes takes place.
- Ensure that for every single campaign/way to market the conversion numbers can be identified whether it’s for adverts in different publications, Facebook, pay per click, telesales, networking etc. If you don’t know that granular level of detail then how do you know what’s working and what’s not? It may mean collecting additional information, using more than one telephone line and so on but it pays dividends to understand the numbers.
- Using the cost of the individual campaigns and the conversion rates calculate the cost of the client acquisition/sale. Key to getting the full understanding of the success and cost of each way to market is adding the value of the sales for each of the discrete processes e.g. if an ad costs £10k but only generates 3 sales on the face of it the cost might be high but if the average sale is £25k then it’s a different story.
- Knowing that the aim is to increase overall sales say by 10% what conversion rates would be needed to do that? So rework the map backwards from current sales plus 10% or whatever the desired rate is to identify the required conversion rates.
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I have known Yvette for a number of years and met through our membership of the IPP. Yvette is an astute business woman and her passion for the industry she works in shines through at all levels. It is a pleasure to hear her speak at conferences as she always has something new to impart and the delivery of her material is always given with hunour and patience.
Trainer at The Chartered Institute of Payroll Professionals (CIPP)
Thanks for all of your help, goes without saying we couldn’t have done it without you!
The changes in Team HR have also been hard emotionally and it is still rocky but we are making progress. I’m very appreciative of all your help and guidance through the past few months.