Four To Go!

 

Happy Friday!

 

One for the money...two for the show...three to get ready...four to go...or alternatively...

  

Go man (woman) go! 

  

That's what I want you to do...Go...Go...Go!

 

As we "go deeper" into your business (hey, you are running a business now - congratulations!) let's look at how one more level of sales effectiveness can impact the results.

 

Where does that 4th sale come from?

 

We can't reasonably expect the response rate to exceed industry standard...

that is not sustainable over the "scientific" long haul.

 

We can't reasonably expect to set 100% appointments from the leads that come in...

even I am not that good!

 

We could push closing rate metrics but in the "wide net" of direct mail, we have shoppers,

tire kickers and unqualified people...

  

No, with our current 45% close rate from this medium...you are doing great!

 

You need to get better at  ONE THING that can change EVERYTHING...

 

You will get better at asking for and getting REPEAT BUSINESS AND REFERRALS!

  

We will deal more in Daily Sales Crumbs with the techniques for both, but for now, let's just "dream" about how ONE REFERRAL out of three sales would impact our bottom line;

  

  

Activity	Metrics	Terminology	Analysis
Cost of Direct Mail	$400	Acquisition Costs	Same
# of pieces	1,000	Reach	Same
Response Rate	1.1%	Response Rate (RR)	Same
Number of leads	11	Leads	Same
Appointment Rate	65%	Lead to Appt Conversion Rate	Same
# of Appointments	7	Opportunities	Same
Closing Rate	45%	Conversion Rate	Same
# of Sales	4 3 Direct Marketing 1 Referral	Closed Won	Cost Per Sale 400/4 = $100.00 CPS
Gross Revenue	$1,600	Gross Revenue before costs and expenses deducted	# of Sales x Commission  4 sales x $400 = $1,600 GR
Operating Revenue	$1,200	Revenue generated - Cost of Acquisition	$1,600 - $400 = $1,200 OR
Return On Investment	$1,200 or 300%	Return On Investment	ROI = Acquisition Cost/Operating Revenue $1,200/$400   300% ROI

 

  

Can you see the genius in this?

 

I know there are some of you saying, "This works for other sales people, but won't work for me."

 

Nothing could be further from the truth...take it from me...you can do this and get even better results...

 

I have met, trained, counseled, mentored, emailed and shook the hand of over 40,000 sales professionals in my 30 years...

 

Not one of them was better than you!

 

The differences reside in drive, ambition, creation of and adherence to Objectives, Strategies...and Tactics...

 

Hey, that reminds me...

 

Until tomorrow, I wish you Money, Power, Success!