If You Hated Maths At School You'll Love This?
Ever wondered what business metrics could reveal to help you sell more of your services to your clients? Decipher the maths behind their monthly leads and visitors. It's not as complex as it looks. For instance, let's take a hypothetical scenario: They get a monthly footfall of 5,000 visitors. Their product's market value is $1000. (Just for easy calculations) The average website conversion rate usually hinges around 1.5-2%. Now, if their website follows this trend, the monthly data should look like this: Visitor conversion at 2%: 100 visits Sales tallying up to $100,000 Assuming a profit of 20% after costs, before tax, they rake in $20,000 This simple analysis shows that they can spend up to your gross profit margin to acquire a client and not incur any losses. [part of that could be working with you for a nice fee๐] But, let's imagine if you could double their conversion rate. We all specialize in making that happen but we don't use it to leverage our clients. Don't worry about the method we are using most clients don't care just deliver the results and your clients will stick with you for life. We get hung up on Facebook ads, Google ads, SEO, or a dozen other methods none of that matters is you show them this. Let's consider we boost the conversion rate to just 4% : Visitor conversion jumps to 4%: 200 visits Sales spike up to $200,000 Profit, post-costs, swells to $40,000 Simple equation, right? We are all marketers it's our job to show clients the value we can deliver them but we often concentrate on the wrong things. I am as guilty as the next person but I am now working on finding someone who will put me in front of clients because with this story who wouldn't want to hire me? We all need to find a way to get in front of as many qualified clients as possible and just show them the maths.