Monitoring your marketing and sales activity is a sure means of gauging your business growth. How do you measure it? Which numbers are important?
I always wondered how to derive the best numbers to measure my business marketing and sales activities. I read many books, and I studied many analytics. I wanted a simple way to track my activities. I soon came up with two numbers that I wanted to know:
- First, how many people heard about my business.
- Second, how many of those people then bought my service.
Tracking these two numbers is a great way to determine whether or not your marketing activities are converting into sales. If a business actively monitors these two numbers, and works to develop them, no one can stop their growth!
Keep in mind; this is the high level metrics. Once you have the mechanisms to build and track these lists, then you can optimize your process. You will continually find ways to fine tune your list building process; I don't believe this process will ever end. All I can say is keep this process dynamic!
Building the "Ideal Client List" (ICL)
The first stage in measuring your marketing and sales activity is to build your Ideal Client List(ICL). Start by identifying just who your ideal client is. Then, pinpoint where they can be found. Once you know whom your ideal client is and where to find them, it's time to reach out and establish a relationship with them.
You can establish a relationship with your ideal clients in a number of ways. Technology and established print media make it exceedingly easy. In-person meetings are a powerful means of connecting with potential clients, but we don't always have time to sit down face to face. Social media, the Internet, word of mouth and print media can be an equally powerful means of connecting with and interacting with your ideal clients.
Once you have established your ideal client base, it's time to move to stage two: staying connected with them. Why is this important?
"Nobody likes to be sold, but everybody likes to buy." –Early Taylor
By staying connected to your ideal prospects, you encourage them to buy without pushing sales. By keeping your presence solidly within their focus, you encourage them to contact you when they have need of your service(s).
Sell What You Can Do
"Don't sell life insurance, sell what life can do." – Ben Feldman
I admire Feldman's words. Once you have identified and established your ideal client base, it is time to sell your service. Successful marketing, the kind that converts sales, educates your prospective clients about what you can do for them versus what you have to sell them.
One of the most effective ways to stay connected with your ideal clients is to continually educate them through informative, educational material. You can do this through various media, including a blog, social media, direct mail and other processes and technology. The selection of which types of media to use plays a key role in effectively reaching and engaging your ideal clients. Choose your media wisely. After all, the goal is to make the prospective client feel like we are there when they need us—not matter when that time is.
By taking the time to identify and track the people who know about you versus those who buy from you, you can form an encompassing picture of your marketing and sales activities. One of the keys to promoting continual business growth is always ensuring both of these lists grow and that the people who hear about you move to the list of people who buy from you.
I hope you have found this article both informative and useful. What are you doing to track and expand the two lists we've discussed? Do you have questions? Feel free to leave me a comment!