building rapport with clients

How To Build Rapport With Clients

Have you ever heard the phrase, “It’s all about who you know.”? In business and in life, creating a network of trusted people can help you become more successful. This is why it’s important to learn how to build rapport with your clients as a business owner. What is Rapport?

Rapport means building a strong relationship. Building rapport is akin to getting along with someone and trusting them. Some traits that describe good rapport are as follows:

  • Mutual attentiveness: Both you and the client are focused on one another when speaking to each other
  • Positivity: You both show a genuine concern for one another’s wellbeing
  • Non-Verbal Cues: Your body language is similar, indicating you’re socially in-sync and can have open communication

Asa small business owner, you will want to build rapport with your clients in the same way a salesman likes to get cozy with customers. It is in your best interest to get to know your clients on a human level and tend to their needs. This is why customer service thrives with personal touches like smart web chat services. Buyers want a personal experience.

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Benefits of Building Rapport with Clients

building trust with clients

Having a good relationship with those you do business with will enable you to expand your network and your business. Happy clients are much more likely to recommend your product or services to someone else. As you can imagine, customer feedback is crucial, so remember to keep good juju. One way to monitor the rapport between you and your clients is to gather feedback regularly with automated tools.

At the end of the day, when there is a good rapport between you and your clients, you are much more likely to keep their business. Plus, a recent study by Harvard Business School showed just how profitable repeat customers are: A customer’s sixth purchase was an average of 40% higher than their first, and their 8th purchase was an average of 80% higher. Basically, the longer a customer stays with you, the larger their purchases get. Courting or building great rapport with your current customers is the key is building a successful company.

How to Build Rapport with Clients

Now that we’ve established how important building good rapport is, it’s time to get into the details. If you want to work on building client rapport, this article will go over the ways you can win over even the toughest of clients.

  • Step 1: Breaking the Ice
  • Step 2: Nonverbal Rapport Building
  • Step 3: Rapport-Building Activities

Ready to start building rapport?

Step 1: Breaking the Ice

talking with clients

Building rapport with clients starts from the very beginning of your relationship. As soon as you meet someone new who could be a potential client or customer, it’s time for you to turn on the charm. It may sound silly to think you’re “courting” clients, but you do want to be a little extra endearing if you want to win them over.

Remember how important relationships are to the success of your business! No matter if you’re a builder, plumber, nail artist, or any other type of small business owner, there is no harm in fostering relationships with those who support your company.

The first step to building client rapport is to simply initiate conversation. Some call it making small talk or breaking the ice. Some easy ways to break the ice are as follows.

  • Find common ground: A great, non-invasive way to chat with a new person is to find common ground. Do you like his or her shirt, do you have similar struggles, do you both like the current weather? There are many ways to find common ground or establish shared experiences, and once you can do that, you’ll notice both of you start easing up.
  • Share a laugh: If you consider yourself to be a little funny, go ahead and throw a casual joke into the conversation. Sharing a laugh is an instant way to connect with somebody.
  • Be polite and genuine: Politeness and open-mindedness both go a long way when trying to connect with new people. Be empathetic, smile, and don’t bring up polarizing topics. Focus on fine-tuning your emotional intelligence to become more empathetic and understanding.
  • Use similar language: Mirror the speech of him/her by using some of the same words in conversation. This keeps you from coming off as patronizing or rude. You don’t want to make someone feel inferior to you—this will result in an uneven relationship.

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Step 2: Nonverbal Rapport Building

Next, it’s all about the nonverbal cues you’re giving off. What is your body language saying? Are your arms crossed? Are you looking him or her in the eye? These are the questions you should be asking yourself when speaking with a potential new client (and thereafter once they become your client).

Think about the signals your movements are sending. Sometimes, body language speaks louder than words, and you want to be sure you’re complimenting your client. The last thing you want to do is look disinterested when they are doing their part trying to get to know you. To ensure you’re putting out a good signal, some body language tips to keep in mind:

  • Maintain eye contact
  • Relax
  • Lean slightly towards him/her to indicate interest
  • If appropriate, mirror body language (this often comes naturally)
  • A nod to show you’re listening
  • Smile!

Step 3: Rapport Building Activities

rapport building activities

Lastly, to become better at establishing meaningful connections with clients, you can participate in rapport-building activities. These activities are simple social challenges that help you practice the right habits that endear you to others. You will also become more comfortable with striking up a conversation with just about anyone thanks to these activities—rapport-building is useful in everyday life!

There are many types of rapport-building activities you can try. To get you started, we’ve listed some of our favorites. Many of these you’ll want to do with your customer service staff, so it doubles as team-building as well!

  • Personal challenge: Chat up someone in line at the grocery store, and see what kind of amazing connections you can make. You’ll be surprised what total strangers are willing to share if you show an inkling of interest.
  • Celebrate birthdays. This will help everyone become more connected in and out of your office. It’s an easy way to spark many conversations between employees, and clients will feel special that you remembered their special day (maybe offer a discount?).
  • Play One-Question Ice Breaker from this list with your employees to get everyone acquainted with asking appropriate questions.
  • How are we the same? Ask your team to go through and list all the similarities amongst the group—it could be as simple as everybody owning cell phones.
  • How do we differ? Similar to the above exercise, this activity is a little tougher but it is more rewarding. It helps people become more empathetic towards those who differ from them.
  • How can we help? Lastly, look at how everyone is valuable to one another. Because a good relationship is balanced, this activity will help you appeal to your client in a way that’s also beneficial to them.

Conclusion

There are many ways to charm your potential clients into becoming genuine connections. Though there are some great reputation management tools available, wouldn’t it be nice not having to use them too often? Your rapport-building strategy should be focused on sincerity, good listening, and the willingness to connect with others. Opening yourself up to meaningful connections can help your business reach new heights. People want to buy from people, and once you establish how similar you are to your client, the more the both of you want to help each other out. Now, doesn’t that sound like a nice way to do business?

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20 Tips & Strategies to Improve Work Performance

For every company, no matter the size or industry, success depends on one ingredient: the people. From the custodial crew who helps keep the workplace clean to the salespeople who bring in new business, every person on the payroll is an integral part of a company’s success. Improving your employees’ work performance isn’t easy, but it pays off: better employee performance equals more efficiency, more leads, and profit.

If you’re wondering how to get the most out of your employees by getting them to work smarter, not harder, here are some tried-and-true strategies to try.

How To Improve Work Performance:

  1. Avoid distractions
  2. Stop multitasking
  3. Be accountable
  4. Read
  5. Set milestones
  6. Review personal benchmarks regularly
  7. Know your limits
  8. Batch tasks & meetings
  9. Take time off
  10. Ask questions
  11. Simplify complex processes
  12. Be punctual
  13. Delegate properly
  14. Mentorship
  15. Use digital organization tools
  16. Use physical organization tools
  17. Identify blind spots
  18. Be clear
  19. Sharpen priority identifying and management skills
  20. Keep learning

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20 Tips To Improve Work Performance

Consider printing out this list or sending it around as a memo to your employees—they are helpful reminders for everyone who wants to improve their success at work. You have the tools. Now, use them!

Improve Work Performance Remove distractions

Tip #1: Avoid Distractions

It’s pretty common sense that distractions hinder productivity. To keep the creativity, focus, and/or efficiency humming, eliminate possible distractions from your environment and make a concentrated effort to ignore pop-up distractions if a moment arises. Likewise, avoid putting yourself in situations that could be distracting, like going on Twitter. Put the phone out-of-sight and out-of-mind.

Tip #2: Stop Multitasking

Just because you’re doing a lot of things at once doesn’t mean you’re doing them well. In fact, it’s probably exactly the opposite, because multitasking is proven to decrease your efficiency. Even though you think you’re moving fast when you multitask, your brain cannot focus on one project at a time, and you end up never actually completing anything. Instead, try to go from start to finish on one task before tackling or even looking at the to-do list for another. Your productivity will likely soar.

Tip #3: Be Accountable

For both your actions and the work expected of you. First, simply by accepting your faults—maybe you did actually miscalculate those numbers—you show you have the ability to swallow your ego and be honest for the sake of everyone else. Hold yourself accountable when you mess up, and be reliable when things are asked of you. Simply: Take responsibility for yourself and your role at work.

Improve Work Performance read

Tip #4: Read…. A lot

Stay on top of industry news, breakthroughs, and challenges. Dive into your favorite novel on a rainy day. It doesn’t matter what kind of reading you partake in, so long as it is intentional (mindless scrolling on social media is not). According to Entrepreneur.com, reading books actually make you smarter, richer, and healthier—two of those qualities being related to improved work performance, and the other just being a big plus.

Tip #5: Set milestones

You can’t improve if you don’t have any goals to strive towards. Sit down and really think about what you’d like to achieve at work within 1, 2, 5, or even 10 years. Then, work down into smaller increment with goals and milestones in between that are nearer in sight. Give yourself reasons to congratulate yourself and stay the course. When you complete a goal, no matter how small, your confidence and performance level can grow.

Tip #6: Review Personal Benchmarks Regularly

As you set these milestones, remember to take a look at them as they pass and determine whether or not you accomplished what you said you would. Use this as a tool to keep yourself in check and jumpstart a better work ethic if needed.

Tip #7: Know Your Limits

If you burn yourself out with too much work, nobody wins. Do everyone a favor and know when it’s the right time to say “no” to things—whether that be a networking event on your night off or an extra project you know you can hit out of the park. Sometimes, the best answer is “not right now.”

Improve Work Performance Batch Meetings

Tip #8: Batch Tasks & Meetings

To help you accomplish more, a somewhat popular strategy is to “batch” your work. So, if you have a bunch of data entry to do, block out an appropriate amount of time to complete it, and don’t switch tasks until you’ve completed it. The same method works for meetings so that you aren’t constantly feeling on-the-go throughout the day.

Tip #9: Take Time Off

NBC says taking a vacation is the best thing you can do for your career, and we tend to agree. When you are able to truly disconnect from work for a short while, when you come back, you will feel re-energized and excited to start work again. The passion you first had for your job just might find its way back after five glorious days of sipping margaritas in Mexico.

Tip #10: Ask Questions

What’s that saying, the dumbest question is the one you don’t ask? You’ll never know the answer if you don’t ask, so swallow your shyness and just ask the question. Especially if it’s pertaining to your job duties, it’s best to get the answer now rather than spending too long trying to figure it out on your own—that wastes everyone’s time.

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Tip #11: Simplify Complex Processes

Some things can just be simplified. Whether it’s the meeting structure or the digital promotions you’re trying to launch, it’s always worth looking into solutions for unnecessarily complex processes and systems. In the case of meetings, once things start getting repeated, that’s a good indicator it can end. In the case of digital promotions, Broadly can automate Facebook promos. See, problems solved.

Tip #12: Be Punctual

You can’t get your work done if you’re not there. Being chronically late every day is a bad way to start the day. Try working on making it on time to places, and see how your day changes. Hint: Leave way more lead time than you think you need.

Tip #13: Delegate Properly

We know you can do it all, but it’s in everyone’s best interest if you focus your talents on the most important duties. The easier duties can be left to the people who are paid to help you—take advantage of collaboration and delegate tasks to the next-best people who can complete them. And, whatever you do, don’t micromanage.

Tip #14: Mentorship

Mentorships are mutually beneficial relationships. The mentee gets to learn old tricks and wise solutions, and the mentor receives interpersonal fulfillment. Plus, sometimes, when you have to be someone’s role model, you often look a little more closely at yourself to ensure you’re upholding your end of the bargain.

Tip #15: Use digital organization tools

There’s a ton of technology out there—before you get overwhelmed, do some research to see which schedule, calendar, communication, and organization apps there are out there. Some, you might find, are perfect for you (there are even savvy ways to collect customer email addresses and get customer reviews). Just remember that digital tools can be your friend if they make sense for you and you take the minimal time needed to learn and implement them into your workflow.

Improve Work Performance use physical tools

Tip #16: Use Physical Organization Tools

There’s still something to be said for physically writing something down and filing it away in a labeled folder. Don’t hesitate to also use a wall calendar, a paper to-do list, and hanging mail holder to take care of your physical world items. Clearing your cluttered desk, at the very least, will yield a more focused mind at work.

Tip #17: Identify Blind Spots

Blind spots are those things you do (or don’t do) that you don’t notice, yet others do. In order to identify these, you have to be able to take an honest look at yourself and dissect your actions versus intent. Ask your peers to weigh in, and be willing to take feedback with a constructive attitude if you truly want to improve.

Tip #18: Be Clear

Communication is and always will be key. Bad communication can destroy marriages, businesses, and some of the strongest partnerships. When communicating either via email, the phone, or in-person, be cognitive about your choice of words. Could what you said be misconstrued? Did you properly get your point across? Did you ask the question you really wanted to ask? These are all components to being clear.

Tip #19: Sharpen Priority Identifying & Management Skills

In order to be able to prioritize well, you have to learn how to identify what is a priority. Ask yourself if you are able to name the top three things that need to be taken care of tomorrow at work. If you don’t, there’s a good chance you’re not so great at prioritizing and thus aren’t very efficient. Try to think of projects in terms of the deadline, planning/pre-work required, cost/profit, and actual time and steps required to complete the project. This will help you understand where to apply a sense of urgency and which to-dos can wait.

Tip #20: Keep Learning

Your brain is a muscle, so keep working it and challenging it to become a better version of yourself in and out of the workplace. Learning could be taking a class or picking the brain of a colleague in a different department. It could even be taking up painting. Whatever you choose to do, just make sure you don’t stop exercising the most important muscle of all.

Conclusion

As you can see, there are a lot of strategies to try if you want to improve work performance within your company. The good thing is that productivity can be contagious, and using communication tools like the ones that Broadly offers can greatly increase that productivity. Your business and bank account will thank you.

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How-to-Get-More-Roofing-Leads.jpeg

How to Get More Roofing Leads for Your Business

Roofing is a highly local business and it’s not easy scoring big leads! Roofing leads are the lifeblood to your business’s success which is why it’s important to establish a system that consistently generates leads for your business. Otherwise, your company may fall flat.

If you’re ready to take action to score more leads for your roofing business, we’ve compiled some of the best roofing lead gen tips and strategies.

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How To Get More Roofing Leads for Your Business

  1. Use Direct Mailers
  2. Implement Local SEO
  3. Try Canvassing
  4. Ask For Online Reviews
  5. Test Out Pay-per-click (PPC)
  6. Use Facebook Promotions
  7. Find Strategic Partnerships
  8. Word of Mouth

8 Ways to Get More Roofing Leads for Your Business

1. Use Direct Mailers

It might seem old school, but mailing flyers to homes in surrounding neighborhoods still work as a roofing lead generator. Because this method can be highly personal (“from your [area] neighbors at [Company Name]”), it’s a great way to appeal to local homeowners and let them know you share their concerns. Use the neighbor mentality to your benefit here—it will increase consumer trust.

Offer Discounts

Additionally, don’t hesitate to send out coupons or discounts. When people are given the option to save any amount of money, they instantly become more interested in making a purchase. Consider playing off of well-known retail holidays such as Black Friday to run limited-offer sales that will rake in leads.

2. Implement Local SEO

roofing local seo

You might not think that being searchable on Google would matter to a local business, but that is incorrect. In fact, local SEO (Search Engine Optimization) is a huge component of capturing online business. Did you know that 85% of people use the internet to find local businesses? Even though you might be just down the road, the modern consumer wants to check out your website, your online reviews, and maybe even your pricing before they actually contact you or step into your office.

When people type in a query such as “roofing company Scottsdale AZ,” would your company pop up? Probably not if you don’t properly optimize your website to be found on search engines.

A few ways to level up your local SEO:

  • Make a Google My Business page and ensure it is as up-to-date as possible
  • Use keywords on your website and on your Google My Business page
  • Implement content marketing on your website

There are many things you can do to improve your SEO ranking, but these top three will do very well for you as a roofing company. The Google My Business Page alone accounts for almost 15% of Google ranking factors, so once you do that, you’ll be off to a great start.

3. Try Canvassing

Much like direct mail, canvassing might be a little antiquated, but that doesn’t mean it’s obsolete. Nothing can really compare to meeting someone and talking to them face-to-face. The best time to canvas is after a storm, when people might be weary about their home’s ability to keep them safe. After all, a well-made roof is a highly important ingredient to a safe home.

When you choose to canvas nearby neighborhoods, remember that people are a little weary of strangers walking up to their homes. Don’t stand too closely to the door or attempt to peek inside—ring or knock, and wait patiently. If someone doesn’t answer, consider just leaving a flyer for them or a handwritten note. Also, it is best to have a clear goal in mind before canvassing—do you want to sign a contract, collect an email/phone number, or schedule an appointment? Consider drafting a script so you know your spiel before the door opens.

4. Ask For Online Reviews

roofing online reviews

We mentioned above that online reviews contribute to a better SEO ranking, but that’s not the only benefit. In addition to catapulting your online presence, online reviews for your roofing company play a big part in attracting new leads. Online reviews are basically the new-age version of word-of-mouth referrals—84% of people say they trust online reviews as much as a personal recommendation. Plus, because this form of lead gen is done online, there are all kinds of tools out there to help you. Our review platform, for example, completely automates the online review process, so you can spend less time asking for reviews and more time scoring new roofing clients (and building roofs).

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5. Test Out Pay-per-click (PPC)

Pay-per-click advertising is a surprisingly effective method of local online advertising. Pay-per-click ads are the top two or three listings you see at the top of a Google search. They are run by Google Adwords and give you top page placement for pretty much any keyword you want to rank for. If you thought people wouldn’t knowingly click on an ad, think again. Some PPC stats you may want to know:

  • Businesses make an average $2 in income for every $1 they spend on AdWords
  • On average, the top three paid ads on Google snag 41% of clicks
  • Lastly, PPC visitors to your website are 50% more likely to purchase something than organic visitors

Pretty convincing stuff, right? And if you remember, 85% of people use the internet to find local businesses, so if you set up your PPC advertising correctly, you could be the top result on all your neighbors’ searches for area roofing companies.

6. Use Facebook Promotions

Facebook Business Page Tips

Facebook, in addition to the other main social media platforms, it a fantastic marketing tool. Your first step to maximizing your Facebook use for business purposes is to create a Facebook Page for your roofing business. Simply being listed on Facebook will allow you to grab all kinds of leads that come from friends recommending local businesses to one another on the platform. There is actually a “Recommendations” feature that allows users to tag the actual company they are recommending, which then leads to your FB business page where all your company information resides. You can also take advantage of the messaging feature to provide excellent customer service, ultimately generating more leads thanks to your personal engagement.

Facebook Promotions

One other way to use Facebook to get more roofing leads is to run Facebook promotions. Running ads on Facebook has proven to deliver favorable ROI for all kinds of marketers. The best part about promoting on Facebook is their audience targeting feature, which allows targeting a very specific demographic in the area you service, so the right people are seeing your ad.

7. Find Strategic Partnerships

Because you’re a locally focused business, it’s savvy to build strategic partnerships with other businesses in the area that are related to your industry but not direct competitors. The right kind of partnership will be beneficial to both parties. For example, you might want to consider partnering with local home improvement stores. They will have a variety of customers that come in that might need roofing services—if you’re partnered up, you could get direct referrals from the store. Vice versa, you can refer clients to your partner store for all their other home fixes.

8. Word of Mouth

The word-of-mouth technique will always be a top lead generator for roofing businesses and others. People trust their peers’ opinions, and they like to hear of personal experiences when dropping money on something as important as the roof over their heads. Remember to leverage online reviews to get the digital “word-of-mouth” referrals.

To promote “real life” word-of-mouth recommendations, consider launching a referral program that rewards customers for referring you to a friend. Maybe if a past client refers you, you offer them a free gutter repair to redeem in the future. Offer an incentive that is valuable to the customer but not too tough to deliver on your end. You will be amazed what a little incentive does to motivate customers to spread the word.

Conclusion

Your roofing company would be nothing without the lifeblood of your business—the leads. To keep potential roofing customers calling, implement some of the above lead generation strategies to amp up your marketing and attract new customers to your business. It’s time to grow your sales!

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lead value

Lead Value – What it is & how to calculate it

If you run a business, you’re constantly looking for more paying customers. Of course, the more leads, or potential buyers, that you convert into customers, the more revenue your business will generate.

Lead Value is learning the total value of your leads so you can make more educated decisions on how you can acquire more leads. This helps with forecasting sales and justify spending to acquire potential customers.  Not just the value of the first purchase, but the potential lifetime value of the customer.

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What Is A Quality Lead?

There are a lot of misconceptions about quality leads. Quality leads first start with your lead generating funnel. A lead funnel is a strategy a business puts into place that focuses on attracting leads, nurturing them, and eventually converting them into sales. The best way to understand a lead funnel is to think about a real-life funnel. With a real funnel, you start with a large amount of water and pour it into the big opening at the top. As the water moves through the funnel, only a small amount comes out of the narrow bottom of the funnel. This is the same process for leads—you start with a bunch of prospects, but by the time they reach the end stage (the buying stage), there are far fewer prospects who made it all the way through.

Understanding your lead funnel will help you uncover your quality leads. Quality leads are those leads that moved quickly through the funnel and resulted in an easy, large sale—basically, they are the dream leads! With better quality leads, you will have better ROI for your lead generation program, thus saving you more time and making you more money.

Want more quality leads? Then it’s time to find out which of your leads are the highest value and lead to the highest conversions.

What Is A Conversion?

Lead Values What is a lead

What constitutes a conversion depends on what your end goal is for your lead funnel. Most lead funnels are focused on driving sales, but others might be dedicated to a different goal, such as collecting email newsletter sign-ups. A conversion is when a lead successfully completes the final goal of your funnel—like the small bits of water at the end of the funnel in our analogy. If a sale was your goal, then a conversion is the moment you turn a lead into a paying customer. You have converted the lead into a customer.

For your business, a conversion can be any goal—it’s up to you to decide what you want to use lead generation for. Do you want to build your email list? Do you want to sell a specific product? Do you want to chat with customers about a new service you launched? Once you have a clear goal in mind, you can then add in the necessary steps to accomplish it as effectively and efficiently as possible.

Below are the steps to calculating lead value so you can learn either if your leads are high-quality and end up in conversions or if your strategy needs some work to make the leads better quality. It’s best to have last year’s marketing and sales information in front of you before you begin the calculation process, and it’s also worth mentioning that seasonal businesses would benefit from assessing their quarterly lead value. Ready to do a little math?

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Step 1: How to Calculate Cost Per Lead

The cost per lead is a useful number because it will show you just how much you’re spending on marketing versus how much of that marketing is working. It is the base number you’ll need to project lead value and other growth forecasts.

Cost-per-lead formula: Total cost to acquire leads ÷ Total leads acquired = Actual cost per lead

In this formula, the total cost to acquire leads would be how much money you spent on marketing in the time period you are assessing. This number can also include any tools you use to save time managing your leads, like LeadCentral.

So, if you spent $1,000 on marketing and you received 10 leads, your equation would look like this: 1000 ÷ 10 = 100.

Per this example, your cost per lead would be $100.

Step 2: How to Calculate Lead Value

Now that you know how much each lead costs you, it’s time to see how valuable those leads are to the success of your company. Learning the lead value will give you a snapshot at how much money you spend to receive a certain profit figure. If your lead value is lower than your cost per lead, then you have a problem.

Lead value formula: Total sales value ÷ Total leads = Total lead value

Let’s say, in the time period you are looking at, you brought in $15,000. Remember that your lead volume was 10. So, your equation becomes: 15000 ÷ 10 = 1500.

Now you know that even though each lead cost you $100, each lead also brought in $1,500 of business. Your lead value is $1,500.

lead value calculator

Step 3: How to Calculate Lead-to-Sale Conversion Rate

Next, you want to use the information you gained to configure your conversion rate. Remember, conversions are when a lead converts into a customer. Figuring out your conversion rate will show you how effective your sales funnel is because it will show you how likely it is that a lead will turn into a sale.

Lead-to-sale conversion rate formula: Converted Leads ÷ Total Lead Volume = Lead-to-sale conversion rate

Let’s stick with 10 for your Total Lead Volume. That means 10 people asked for an estimate. However, only 3 of those people actually followed through and agreed to do business with you. That gives you the number 3 for Converted Leads. So, here’s your equation: 3 ÷ 10 = .30

If you remember anything about math, you’ll realize that .30 converts to 30%. That means your conversion rate is 30%, which means 30% of your leads actually turn into sales.

Step 4: Projecting Future Leads and Marketing Budget to Attain Sales Goals

If you have certain sales goals in mind (hint: you should), then you can now use your new information to determine how many leads you need in order to reach those goals.

Formula: Sales goal ÷ Lead value = Amount of leads you need to reach your sales goal at the current conversion rate

Alright, so let’s say your sales goal is to increase total sales to $20,000. Your lead value, as you calculated earlier, is $1,500. So, it should look like this: 20000 ÷ 1500 = 13.33 (repeating).

This equation says that in order to reach your sales goal with your current conversion rate, you would need to bump up your total leads from 10 to 13-14. To learn how much money that might cost you, there’s one more formula.

Anticipated marketing spend formula: Goal number of leads x Cost per lead = Marketing spend to achieve sales goal

With our goal number of leads at 13.33 and cost per lead at $100, 13.33 x 100 = $1,333. It would cost you $333 more in marketing dollars per lead to achieving your sales goals.

While these formulas are handy, we must also note that there are variables that can always affect your exact outcomes. Maybe your conversion rate mysteriously changes, unanticipated costs come up, the industry shifts or people leave your company—many factors can contribute to curveballs that may affect your calculations, but these formulas are great for creating a general lead funnel, sales, and marketing strategies.

Conclusion

Learning about your lead metrics and how they contribute to your overall profit is one big step to improving your business and fostering higher quality leads that convert. Chase those quality conversions and remember to use the data to help you—crunching numbers is necessary for building a profitable business.

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