Examine Your Marketing Funnel Data: How Many Customers Are You Really Converting?

How you measure your quantitative goals matter. Sometimes, it’s all in the sheer number of customers or the amount of dollars earned. These hard numbers are what move your business forward and generate revenue. But there’s a deeper story in your sales data, and that all about percentages. So run your data and find these key percentages to find weak points and successes in your strategies:

The percentage of visitors that become leads.

This is where your marketing funnel really starts. The journey from being an online consumer with a problem to someone who is starting to trust your brand is important. So find out how many of your online visitors are valuable visitors as an overall percentage. If you want to see what strategies work best, find that percentage based on different origin points and types of campaigns. Then you can really see which of your marketing projects are just generating traffic and which ones are building leads that your salespeople should spend time on.

The percentage of leads that become paying customers.

This percentage matters even more because you’re allocating more resources. You might convert a passing visitor into a subscriber with good content and an email offer, all of which take time and effort. But once you have a lead, you’re investing more through email newsletters, targeted marketing, salespeople’s time, and demos. Find how successful these efforts are.

Just like with your first percentage, it’s important to divide up the data. But rather than focusing on campaign type, focus on the type of service or product. Customers for one service may be easier to persuade than consumers possibly interested in another one, and that’s when you have to make hard decisions about where to focus your efforts.

For example, if a significant percentage of your visitors become paying customers for a service with low-profit margins, that’s still good news. A consistent stream of small, profitable jobs is reliable. You may have another service that has a far lower percentage of converted customers, but the profit margin is larger. Depending on how much larger the profits are, it may make more sense to focus on campaigns and services with a smaller conversion percentage. But without that per unit advantage, you want easily won sales.

Go to HCMM INC. for more ways to examine your data and find duplicable, scalable strategies.

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