Are You Tracking And Measuring Your Prospecting Activities?

What gets measured gets results. I think it was business management guru Peter Drucker that came up with that statement.

What important indicators of your prospecting system should you be measuring and tracking?

1. Leads: Do you know where you get most of your sales leads from? Do you know how many leads you get in a week or month? What advertising or promotional activities are generating the most or best qualified leads? It’s very tempting to just make assumptions, resist the urge and do some actual market research.

2. Do you know how much revenue your average customer or client generates for you? It’s easier to do business with your current or past clients because they know you, like you, and trust you. You should have a strategy to encourage your current clients to do more business with you. Repeat sales for most businesses are a critical long-term success factor. One of your goals should be to increase the average dollar amount from all your customers or clients.

3. Do you know how many prospects you have to talk to in order to make a sale?
How many of your leads are you converting to paying clients? Do you know how many prospects you need to talk to in order to make a sale?  Two of the quickest ways to give your lead conversion rate a boost is to pre-plan all your sales calls. Don’t

wing your sales calls. Whether in person or on the phone, write down specific questions that you want to ask.
 
Secondly, develop effective direct response marketing materials. I’m a big promoter of the strategy of educating your clients and prospects on how the benefits of your products or service will add value and provide solutions to their issues. Providing them with free reports, tip sheets and newsletters are effective tools.

Effective lead generation marketing materials will make your sales conversion rate go up because you will attract higher quality, ready to buy prospects. If you aren’t measuring these three key success factors of your lead generation activities there is a good chance that you are wasting a lot of your marketing dollars.

After all, marketing is an investment in your business and it’s smart marketing to know if you are getting a return on your investment. If you need some help developing an effective lead generation system check out my MARKETING FOR LEADS COACHING PROGRAM.