When setting your marketing objectives it is important to know your sales numbers. But why?
How many prospects do you actually have to attract to achieve your target number of new clients? To help you make that calculation easily we designed an infographic for you.
What do the numbers tell us?
Let’s say you want 5 new customers this year. Starting from here you can break down to how many new prospects you have to reach out on a daily basis.
For 5 new customers you probably need to have 20 qualified leads, because normally 25% of the qualified leads turn into customers. A seamless customer experience can also help you in turning qualified leads into customers. The crucial point here is that not all leads are qualified, better said only half of your leads tend to be. So, to get 20 qualified leads you need 40 leads.
In addition, it’s likely only 10% of the people you communicate with in the prospecting stage will turn into leads. So, if you need 40 leads you will need around 400 prospects. Does 400 sound a lot to you? See it as only a little bit more than one new prospect every day.
How do you achieve this?
Prospects are the people you reach out to (outbound) and the ones contact with you or interact with you (inbound). By optimising your inbound leads through your website and social media you can reduce the effort to generate more prospects.
Whatever channel you generate prospects from, make sure you do it every day. This will keep your sales funnel always full and make sure you never run out of prospects.
New prospects can come from every touchpoint you can possibly have so that gives you a lot of options. Make sure you measure the prospects you generate from every channel and then concentrate on the channel that gives you the most prospects. You need to also make sure you provide the information your buyers need at the right time.
Also make sure you give your prospects, leads and clients the information they need when they need it. By saying that I mean that you need to nurture them with every step they take that brings them closer to becoming a customer.
A lot of prospects are not ready to buy when they interact with you for the first time. That’s why it is important to reach out to enough prospects to get the number of customers you need. But also to follow through and revisit those prospects who weren't ready to buy when you spoke to them.
The most important thing here though is to understand why the prospects contact you or why you reach out to them and communicate the value you provide to them clearly.
Knowing your numbers means knowing which channels are the most effective for you. Focus on it in your sales and marketing strategy and make sure you reach out to new prospects every day.
If you want an objective view of your marketing and sales strategies, we'd love to discuss to make this happen for your business. Just reach out to us via email at email@example.com, call us on (02) 9125 0520 or visit our website.