Neglecting to Carefully Track Key Sales Indicators
Take a quick minute to answer the following 2 questions:
- How many leads did you generate in the last 90 days and where did these leads come from?
- How many of these leads did you turn into customers?
The answers to these questions will provide you with 2 of the most important indicators of the health of a business. Unfortunately, most business owners struggle to find answers to either of these questions.
Why?
Typically, I hear that it takes too much time to track this information. But, after a quick demonstration of how easy it is to collect this data, I discover that the real answer is
most owners don’t understand how important this information is to their business.
Consider the following:
Studies show that if you begin to consistently track this information you should automatically see at least a 5% icrease in the numbers – even if you make no improvements.
Once you understand your current performance, it is less difficult to identify and implement the right solution(s).
As you bring on new salespeople and other staff members, you will find it much easier to train them and measure their performance. So, before you spend a bunch of time and money on a new marketing campaign, start tracking your investment.
- Do you track your leads?
- How much does it cost your company to generate a lead?
- Is that money being spent effectively?
