I am pleased to bring you another of Scott Hallman's TUESDAY PROFIT TIPS™ and this week Scott focuses on improving your lead conversion rates to drive forward sales. I recommend that you take a good look at Scott's Small Business Growth Club and then click on the audio message below.
How Sweating the "Small" Stuff Can Transform Your Business Without Spending a Dime
Click This Link To Hear Audio Message
With the economy showing signs of a potential recession, what can businesses do to increase sales and improve profitability?
Spending risky advertising and marketing dollars might work for you but there is a way better way. I call it "Conversion Driver Technology™". Ok, not a great marketing idea. But that is because it really is an operations system...a way of optimizing your results, and your profits.
The "Drivers" I am talking about are the steps in your sales process that "drive" your ultimate conversion rate. Most companies are so focused upon getting more leads that they fail to understand they can transform their business by converting more of the leads that they already are getting.
$120,000 a year ... or $1.5 Million?
Nuco, Inc is a home service that has revenue of $500,000. They are cash flow strapped and are afraid to spend more on advertising and direct mail. Sound familiar?
So how can they increase sales and profits? The answer is simple, once you understand "Conversion Driver Technology". In fact, if you apply this in a "systematic" process (like our Leverage Your Success System), you can methodically double, triple or quadruple your sales without spending a dime more on advertising or marketing!
As you can notice from the chart below, the improvements or changes are small, but the combined effect is huge.
Download conversion_is_king.pdf
Unfortunately, in working with thousands of companies, I have only encountered a handful that have a systematic approach to optimizing conversion before we teach them how.
So HOW can you improve sales conversion rates (on and offline) by focusing one or more "drivers" or levers in the conversion process?
3 Simple Steps to Get Started Now
First, make a list of each of the drivers and then identify ones where you can make improvements to that will produce measurable results.
Second, test 2-3 versions and track the results.
Third, move on to the next "driver" and repeat step 2.
For most of you this simple process will produce $10,000-$100,000 a year in added profit. So go for it and ProfitNOW™.
To your Success,
Scott Hallman
Join Scott Hallman's Small Business Growth Club.
Thanks Scott. I like the use of the audio message and it's a great proof of the value of the Small Business Growth Club.
I can't emphasise enough how important it is to break down your drivers and look at how you can optimise each through testing and measuring.
Sorry for the delay. This is from last week so hopefully there should be another tip appearing tomorrow.
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