Three years ago, Paul left his business job to introduce his freelance writing career, and he’s done relatively well. He has a group of routine clients that keep him going, and they more than happy with his work.
When he initially called me, he revealed concern over the sustainability of his service. “Even though I’ve got excellent relationships with my clients, and they send me adequate assignments to keep my organisation going, I have this irritating worry of losing them. Expert Secrets Russell Brunson
I would really be in difficulty if I lost one or two at the exact same time. I actually do not like sensation this susceptible. I do not seem like I’m in control of my own company.”
” Okay, let’s say that took place,” I triggered him. “I don’t really keep track of those things.
You can look at these aspects of your organisation. I know it can be scary, so let’s look at it together.”
Paul and I continued to discuss this subject throughout our next 4 training calls. During that time, he outlined out his prospecting process, established a system for tracking leads and potential customers as they took a trip through the system, and created a spreadsheet that showed him the status of each possibility at any given time.
With these figures, he was able to determine how many leads he required to generate in order to satisfy his sales goals. As a result, he now feels far more in control of his organisation and knows precisely what he should do in order to ensure his business’ survival.
None of us can anticipate when a customer will move, lose loan they allocated our services, take our function internal or select another supplier, but we can prepare ourselves to respond to these kinds of things so they have the least amount of effect on the viability of our organisation.
Do you know the number of leads you need to produce in order to get a brand-new customer? 5? 10? 25? 50? Although market standards might be offered, what you really need to understand is the number of potential customers YOU need to approach in order to get one new client.
Knowing this number tells you what outcomes you need to be getting from your marketing efforts and understanding that tells you whether or not your marketing efforts suffice to reach your annual sales objectives. Expert Secrets Russell Brunson
Let’s say you want to increase your sales by $18,000 over the next 12 months, and you understand that, on average, each customer spends $1200/year with you. That means you need to induce 15 new customers in the next 12 months ($18,000 divided by $1,200).
Note that you’ll need to enter into more detail in order to compute your own numbers considering that in this situation the average customer spends $1,200/ year with you, however if you don’t bring him/her on up until 6 months from now, you’ll only be making $600 in the 12 month duration we’re looking at. However let’s keep up what we’ve got for the functions of this example.
You have to bring on 15 extra clients. If you also know that you need to create 10 qualified potential customers for every individual that becomes a customer, then you’ll need to generate 150 extra potential customers this year (15 clients * 10 qualified potential customers).
In order to create $18,000 more in sales you need to come up with some marketing approaches that will generate 150 extra potential customers above and beyond those you are presently producing.
Although this is not an exact science, it does give you some numbers on which to focus in order to make your development towards your objective more measurable. This measurability permits you to chart your development throughout the year which, in turn, increases the possibility that you’ll reach your objectives as you are able to make mid-course corrections.
It worked for Paul, and it can work for you!
Now’s the time to ask yourself– are you filling your prospecting funnel?
For the first three years of my website design service, I just took what came my way. I did what I thought would bring in company and awaited the results. I did really little analysis of the process, so I was never ever able to forecast what activities I needed to do in order to get my wanted outcomes.
A couple of years back, a management expert introduced me to the concept of the prospecting funnel. It’s a method to track your prospecting process so you know how many prospects remain in each stage at any provided time.
With time, you are able to anticipate the number of potential customers you require to generate in order to produce one brand-new client. This assists you set sensible sales goals, plan effective marketing efforts and budget plan sufficient marketing dollars.
On a blank piece of paper, draw a large funnel taking up the whole page. To the right of the funnel, starting at the top, write the first step of your prospecting process (for example, first contact with prospect at networking meeting, cold call, website inquiry, etc.).
Below that, leaving a little area in between the two, compose the second step of your prospecting process (for instance, setting up a conference). Continue composing the subsequent actions of your prospecting procedure, one below the other, up until you reach the bottom of the funnel. The last action needs to be the one where the possibility ends up being a client (for instance, you get the signed agreement back with a deposit check).
Now, go back to the top of the funnel and for each stage that you determined, write the number of potential customers you have who are currently at that stage. Write these figures inside the funnel. If you have room, you can compose the names of the potential customers that are at each phase.
Now, you might want to develop a spreadsheet that helps you track when the prospect entered your system, when they hit each phase and when they became a client. You can use the very first column to write prospect names and other columns to compose each prospecting action. Each row, checking out from left to right, can show what date the possibility went into each stage of your prospecting process.
Over time, you’ll have the ability to come back to your spreadsheet to determine the number of potential customers it takes to create one brand-new customer and the quantity of time it takes, on average, to convert a brand-new prospect into a consumer.
As soon as you’ve fine-tuned your prospecting system and funnel, you may want to develop a huge version of the funnel on a flipchart where you can compose each possibility’s name on a sticky note and move them from one phase to the next.
It can give you a great visual of your present prospecting status and show you what locations require your attention.
Do you understand how many leads you have to generate in order to get a brand-new customer? Market standards might be offered, what you actually require to know is how numerous potential customers YOU have to approach in order to get one brand-new customer.
The last action should be the one where the possibility ends up being a customer (for example, you get the signed agreement back with a deposit check). Expert Secrets Russell Brunson
Now, you may want to develop a spreadsheet that helps you track when the prospect entered your system, when they strike each stage and when they became a client. You can use the very first column to compose possibility names and other columns to write each prospecting step.