Reviewing Success Rates for Marketing Campaigns
All businesses need to develop a strong business plan for continual growth. Take inventory of your current business practices to better evaluate your progress. Taking the time for evaluation of sales statistics will allow for continual business growth.
Review sales statistics by: Lead to sales conversion. Is your conversion rate high or low? What can you do to boost sales with marketing efforts during a rough economic time? Can your conversion rates be improved? What tools would help in that process?
Client Source. Where do you get your clients? Are they coming from lead sources or word of mouth? Maybe you should consider a reward system for repeat clients. Can you add to or refine your sources?
Client turnover. Do you have a high turnover with your clients? Clients that bounce from company to company can indicate problems after the sale. Take the time to get to know the goals/needs for your clients. Being better informed will retain worthy clients for a long term business relationship. What efforts can be made to reduce client turnover?
Seasonal sales. Do you have a tendency to close more business in the spring or summer months? Develop special marketing tactics to boost sales during the off peak times.
Fresh Business Plan. Once you have evaluated your entire sales program, develop a fresh, new, focused business plan. This plan should have measurable goals such as 10 new clients a month or creating marketing for a niche market that has not yet been penetrated in your business field. Then Track responses and fine-tune your marketing efforts.
Evaluate marketing materials. Take a closer look at your website. Could it use a face lift? Could you add features that could simplify your business process and make your sales more profitable? Are there are tools and documents that will better educate your prospects?
Build your skills. Take time to fill the void on sales skills. Are you weak with time management or unorganized? For example, being unorganized will affect your sales. Determine where you can be more effective.
Feedback. Request feedback from your clients. All feedback (good, bad, or otherwise) helps you know what needs to be tweaked.
In order to keep your sales pipeline busy, you will need to continually evaluate your sales and your entire business practice. Sales are commonly sabotaged by lack of marketing and unnecessary distractions.