If you currently spend any money on advertising, STOP. What’s your conversion rate?

Your conversion rate is the number of new clients/customers you get compared to the number of enquiries you get. For example, if 10 people contact your business and you do business with 2 of them, your conversion rate is 20%

Consider this…

If you knew how to increase your conversion rate you would automatically improve the effectiveness of your advertising. In the example above, if you managed to get your conversion rate to 40% or 4 out of 10, your advertising costs would halve.

Here are some simple ways to improve your conversion rate.

1. Ask for the sale. Too often, we have the new customer or new client but we fail to ask them for the business. Sometimes, they will leave and you may miss out on the business.

2. Remove the risk. Especially in 2011, businesses and consumers are nervous and if the detect any risk at all in dealing with you, they will take their business else where. Is there any risk associated in doing business with you? Are you really sure? Would you buy from you? The easiest was to eliminate risk is to provide a guarantee.

3. Train the team. If you knew that your fellow team members were not as good at winning new business as you, would this make you feel great about yourself or would you be concerned about the sales being missed. Either way – its your responsibility. The simple solution here is to carry out some sales training for the team. Even 10 minutes per week can be very effective.

4. Follow up. In some cases, sales are made by providing quotes or people take some time to make up their mind. In 83% of sales situations the follow up from the supplier is extremely poor in that they do not follow up or the follow up is weak. Why is this? Fear of rejection is the answer so the easiest thing is to stick the head in the sand and hop the business comes in. By the way – it does not work this way.

If you want to improve the conversion rate in your business, call Derek O’Dwyer. 100% Satisfaction Guaranteed! 087 222 0270

About the author,

Hi I’m Derek O’Dwyer. I have been an ActionCOACH for the last 18 years. I live in Clare and work with businesses around Ireland to take their business to the next level. I am passionate about business and providing help and advice. In the past 18 years I have worked with over 400 business owners helping them and their business. I adapt my coaching depending on what you and your business need. I find that each coaching relationship is different but as long as we understand that we have a common objective with timescales, positive things happen quickly. I am a firm believer i the concept of “what you can measure you can manage” and “what you measure you can improve”. Key performance indicators and accountability form the bedrock of my coaching platforms. If making more money from your business, working less hours in your business and having a great team running your business then it’s worth having a discussion with me. If you are willing to implement changes I will be there to help every step of the way. In terms of personal accolades and recognition I have been awarded ActionCOACH of the year in Ireland every year for the last ten years In 2019 I was inducted into the ActionCOACH Global Hall Of Fame I was global Rookie Coach of The Year in 2002 having achieved remarkable success as the first ActionCOACH in Europe. Many of my clients have also received awards from their peers for their business improvements.

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