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 Blog 
Friday, 04 December 2009

Albert Einstein said, "Everything should be made as simple as possible, but not simpler." In marketing there are three simple numbers that determine your marketing performance. Tracking and maximizing these three statistics for your business will guarantee your marketing success.

The first one, lead generation rate, is the one that most people think of when they think of marketing perfomance. Lead generation rate measures how quickly you identify new quailified prospects. (leads)

The second one is close rate, or how many of your leads turn into sales.

The third one is lifetime value of a customer, or how much a customer buys from you for the life of the business relationship.

Multiply the three together and you get your projected sales rate. For example, if your bsuiness generates 10 leads per week, your close rate is 30% and each customer on average spends $100 with you, your sales rate is $300 per week.

If you want to increase your sales, decide which of these numbers you can increase the most with the least investment. By doubling any one number you can double your sales rate. Increasing two or all three will rapidly multiply sales. Its as easy as 1-2-3!

POSTED BY: Dave AT 02:20 pm   |  Permalink   |  0 Comments  |  E-mail this
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