In fact, imagine that with only a few words you could stumble across the one area of your business that is literally overlooked every single day in most companies, to the point where people dismiss it as, "yeah, we're OK in that area".

Well, here it is ... with one caveat ...

If you dismiss this it's at your own peril ...

The Question ...

Do you know your conversion rateS?  and yes the 'S' is meant to be in ALL CAPS ...

Why ... ?

Well, first of all do you even know the overall conversion?  If not, you have some serious room for growth, in fact, whatever you think it is, your gut feeling, halve it and, you're MUCH closer to what it really is.

So, why RATES plural ... ?

Simple, do you know it for every step of the sales process, contact 1, contact 2, and so on through however many contacts there are.  Or, each stage, like in a retail fashion store, getting you in the store is one thing, starting a conversation is another, getting clothes tried on and so on ...

Then stage 3 ... do you know it for each and every sales person at every stage of the process ?  Bob might beat Mary, but Helen beats Bob, and all at different stages of the sales process, so maybe they can learn each stage from each other.

Then Stage 4 of knowing your conversion rate, do you know it for each marketing medium.  As in, do you know what the rates are for Yellow Pages V Referrals, not just think you know, but actually know.

Finally for the more thorough amongst us, the 5th and 6th stages, how much they spend on the initial transaction andthen stage 6, how much are they worth over their lifetime of buying from you?

Finally Stage 7, how many referrals do you get from each marketing medium and from each salesperson and so on?

Is this a lot of work?   YES ...

Imagine though you knew that every $1,000 advertisement bought you 100 leads and 20 sales of $500 each.  How often would you INVEST $1,000 to make $10,000 and what if they came back for 3 years on average and spent another $2,000 on average ... ?

Yes it's work, but it's much better work than struggling to pay the bills because you don't know your numbers.

All the Best ... Brad Sugars

P.S.  Meet with one of my coaches if you are struggling with knowing your numbers like this www.actioncoach.com ...