Generate an Unlimited Amount of Leads for Your Business- Part 2
Last week we focused on where our customers come from and how to record that effectively to work out our conversion rates according to the lead sources.
This week we will look at working out our conversion rates and how to make sure our leads are the right ones.
From Lead to Customer: Conversion Rates
Leads mean nothing to your business unless you convert them into customers. You could get hundreds of leads from a single advertisement, but unless those leads result in purchases, it’s been largely unsuccessful (and costly) campaign.
The ratio of leads (potential customers) to transactions (actual customers) is called your conversion rate. Simply divide the number of customers who actually purchased something by the number of customers who inquired about your product or service, and multiply by 100.
# transactions / # leads x 100 = % conversion rate
If, in a given week, I have 879 customers come into my business, and 143 of them purchase something, the formula would look like this:
[143 (customers) / 879 (leads)] x 100 = 16.25% conversion rate
What’s Your Conversion Rate?
Based on the formula above, you can see that the higher your conversion rate, the more profitable the business.
Now you can determine you own current conversion rate. Add up the number of leads you sourced in the last section, and divide that number into the total transactions that took place in the same week.
Quality (or Qualified) Leads
Based on our review of conversion rates, we can see that the number of leads you generate means nothing unless those leads are being converted into customers.
So what affects your ability (and the ability of your team) to turn leads into customers? Do you need to improve your scripts? Your product or service? Find a more competitive edge in the marketplace?
Maybe. But the first step towards increasing conversion rates is to evaluate the leads you are currently generating, and make sure those leads are the right ones.
What are Quality Leads?
Potential customers are potential customers, right? Anyone who walks into your store or picks up the phone to call your business could be convinced to purchase from you, right? Not necessarily, but this is a common assumption most business owners make.
Quality leads are the people who are the most likely to buy your product or service. They are the qualified buyers who comprise your target market. Anyone might walk in off the street to browse a furniture store – regardless of whether or not they are in the market for a new couch or bed frame. This lead is solely interested in browsing, and is not likely to be converted to a customer.
A quality lead would be someone looking for a new kitchen table, and who specifically drove to that same furniture because a friend had raved about the service they received that month. These are the kinds of leads you need to focus on generating.
How Do You Get Quality Leads?
• Know your target market. Get a handle on who your customers are – the people who are most likely to buy your product or service. Know their age, sex, income, and purchase motivations. From that information you can determine how best to reach your specific audience.
• Focus on the 80/20 rule. A common statistic in business is that 80% of your revenue comes from 20% of your customers. These are your star clients, or your ideal clients.
These are the clients you should focus your efforts on recruiting. This is the easiest way to grow your business and your income.
• Get specific. Focus not only on who you want to attract, but how you’re going to attract them. If you’re trying to generate leads from a specific market segment, craft a unique offer to get their attention.
• Be proactive. Once you’ve generated a slew of leads, make sure you have the resources to follow up on them. Be diligent and aggressive, and follow up in a timely manner.
You’ve done the work to get them, now reel them in.
Next week we will look at how you can more leads from your existing strategies.
Until the time
Vernon Simpson, Nydes Business Coach,
688 Responses to “Generate an Unlimited Amount of Leads for Your Business- Part 2”
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??? ?????? ???. ???????? ?????????? ?????????? ??????? ?????? ??? ??????????? ??????? ????? ?????? ????????? ??????????? ? ?????? ????????. ????????? ??? ???????????? ??????? ???? ?? ???-?????? ???????????? ?????? – ????? ??????? ??????? ???? ??????? ?????? ? ???????? ?? ?????? ? 8 ???. ?????? ??????? ??? ???????? ?? ??????? ?????????? ????. ???????????? ?????? ??????????? ????? ????? ???????????? ??????? ????????? ???????? ?? ?????????? ????????????? ??? ????????? ?? ??? – ?????????????? ???????????? ???????? ???? ? ?????????????? ?????? ? ??????? ??????????? ????????????. ?? ???? ????????? ????? ???????????? ???????????? ?????? – ????????????? ??? ?? ??? ?? ?????-?????????? ?????????? ??????? ????????? ????????? ???????? ????????? ??????? ?? ??????? ??? ???????????. ?? ????? ????????????? ? ????????? ??????????? ??????????? ?????????? ?? ?????????? ???? ?? 16 ???? ?????? – ???????? ????????? ??? ??? ? ????????? ???? ?????? ?? ????????? ??????? ?????????? ? ???????????. ????????? ????????? 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??????? ? ?????????? ???? ??? ?? ???????????? ????? ? ??? ??????? ???????. ????? ????????? – ????????? ????????????. ??? ???? ??????? ?????????? ???????? ?? ?????????? ??????? ?????? ????? ? ?? ??????? ???????? ?? ? ?????. ????????? ??? ??????? ?????? ????? ???????? ??????????? ?????????? ????? ??? ?????????? ????????? ????????????. ??????? ?????????? ? ?????????? ??????????? ???????: ?????????? ???????????? ??????? ? ?????? ?????? ?????. ??? ????????????? ?????????? ????? ??????? ???? ???????? ??????????. ? ??? ??? ???? ?????? ???? ?????????? ? ???? ???????? ????????????? ???? ??? ???? ??? ???? ????????? ?????? ?????????? ?????.
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The man turning jet planes into cool houses ??????? ??? Wasilla south central Alaska. Home to bears lakes mountains and a flight school that’s fast becoming a private aviation wonderland. At FLY8MA Pilot Lodge you can opt for a scenic flight tour with glacier views take the controls for a flying lesson or go all in and get your pilot training. When night falls over the broad vistas of the US state they call the Last Frontier you can then climb the steps to two unique accommodation experiences: a converted McDonnell Douglas DC-6 airplane and the newest arrival a McDonnell Douglas DC-9 – still with its DHL livery. The fast-developing site is an ongoing project by FLY8MA founder Jon Kotwicki who previously owned a flight school in Florida before working as a commercial pilot and eventually ending up in Alaska. Flying for the airlines “pays good money and everything but it’s a very boring job” he says. “Driving Uber is more interesting because you could talk to your passengers.” Having fallen in love with the south central region on a vacation spent hiking fishing and spotting bears and grizzlies he chose it as a spot where he and his team – and his trusty Pomeranian dog Foxtrot – could “buy a lot of property and perhaps develop our own airport and run our own show.”
JoshuaIsoxy said...
The man turning jet planes into cool houses ??????? ??????? ????? Wasilla south central Alaska. Home to bears lakes mountains and a flight school that’s fast becoming a private aviation wonderland. At FLY8MA Pilot Lodge you can opt for a scenic flight tour with glacier views take the controls for a flying lesson or go all in and get your pilot training. When night falls over the broad vistas of the US state they call the Last Frontier you can then climb the steps to two unique accommodation experiences: a converted McDonnell Douglas DC-6 airplane and the newest arrival a McDonnell Douglas DC-9 – still with its DHL livery. The fast-developing site is an ongoing project by FLY8MA founder Jon Kotwicki who previously owned a flight school in Florida before working as a commercial pilot and eventually ending up in Alaska. Flying for the airlines “pays good money and everything but it’s a very boring job” he says. “Driving Uber is more interesting because you could talk to your passengers.” Having fallen in love with the south central region on a vacation spent hiking fishing and spotting bears and grizzlies he chose it as a spot where he and his team – and his trusty Pomeranian dog Foxtrot – could “buy a lot of property and perhaps develop our own airport and run our own show.”
Richardstisa said...
The man turning jet planes into cool houses ????? ??????? ???? Wasilla south central Alaska. Home to bears lakes mountains and a flight school that’s fast becoming a private aviation wonderland. At FLY8MA Pilot Lodge you can opt for a scenic flight tour with glacier views take the controls for a flying lesson or go all in and get your pilot training. When night falls over the broad vistas of the US state they call the Last Frontier you can then climb the steps to two unique accommodation experiences: a converted McDonnell Douglas DC-6 airplane and the newest arrival a McDonnell Douglas DC-9 – still with its DHL livery. The fast-developing site is an ongoing project by FLY8MA founder Jon Kotwicki who previously owned a flight school in Florida before working as a commercial pilot and eventually ending up in Alaska. Flying for the airlines “pays good money and everything but it’s a very boring job” he says. “Driving Uber is more interesting because you could talk to your passengers.” Having fallen in love with the south central region on a vacation spent hiking fishing and spotting bears and grizzlies he chose it as a spot where he and his team – and his trusty Pomeranian dog Foxtrot – could “buy a lot of property and perhaps develop our own airport and run our own show.”
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Tiny shards of plastic are increasingly infiltrating our brains study says ??????? ????? ????? Human brain samples collected at autopsy in early 2024 contained more tiny shards of plastic than samples collected eight years prior according to a preprint posted online in May. A preprint is a study which has not yet been peer-reviewed and published in a journal. “The concentrations we saw in the brain tissue of normal individuals who had an average age of around 45 or 50 years old were 4800 micrograms per gram or 0.5 by weight” said lead study author Matthew Campen a regents’ professor of pharmaceutical sciences at the University of New Mexico in Albuquerque. “Compared to autopsy brain samples from 2016 that’s about 50 higher” Campen said. “That would mean that our brains today are 99.5 brain and the rest is plastic.” That increase however only shows exposure and does not provide information about brain damage said Phoebe Stapleton an associate professor of pharmacology and toxicology at Rutgers University in Piscataway New Jersey who was not involved in the preprint. “It is unclear if in life these particles are fluid entering and leaving the brain or if they collect in neurological tissues and promote disease” she said in an email. “Further research is needed to understand how the particles may be interacting with the cells and if this has a toxicological consequence.” The brain samples contained 7 to 30 more tiny shards of plastic than samples from the cadavers’ kidneys and liver according to the preprint. “Studies have found these plastics in the human heart the great blood vessels the lungs the liver the testes the gastrointestinal tract and the placenta” said pediatrician and biology professor Dr. Philip Landrigan director of the Program for Global Public Health and the Common Good and the Global Observatory on Planetary Health at Boston College. “It’s important not to scare the hell out of people because the science in this space is still evolving and nobody in the year 2024 is going to live without plastic” said Landrigan who was not involved with the preprint.
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In the context of international asset management choosing the right jurisdiction to register funds and trusts is a critical decision. Europe offers many attractive options each with its own unique advantages and peculiarities. In this part of the article we present an analysis of the best European countries for opening funds and trusts taking into account aspects such as tax policy legal stability financial infrastructure and asset protection. The best countries for opening trusts and foundations are Switzerland and Luxembourg. The legislation of these countries provides unprecedented protection for beneficiaries the registration of trusts is the most flexible and risks are minimised. Let us remind you that according to the Global Competitiveness Index Switzerland is among the 10 best countries for financial investments. This country is the largest centre of trust administration and in 2007 Switzerland ratified the Hague Convention on trust legislation.
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StephenTwith said...
Regulated United Europe ay patuloy na nagsusumikap na mapabuti ang kanyang pagganap at antas ng mga serbisyo na ibinibigay batay sa patuloy na feedback mula sa mga kliyente at pagkuha ng mga pangangailangan sa merkado para sa mga serbisyong legal sa iba’t ibang mga bansa sa Europa. Ang oras ng pagtugon sa mga katanungan/email ng mga customer ay pinananatili ring pinakamababa. Sa larangan ng presyo Regulated United Europe ay sinusubukang mag-adjust sa mga pangangailangan ng mga kliyente sa pamamagitan ng pagbibigay ng fixed na presyo para sa karamihan ng mga serbisyong legal na ibinibigay kahit na sa karamihan ng mga bansa sa Europa ay ang mga hourly legal fees ang kadalasang ginagamit. Nagbibigay kami ng legal na payo at araw-araw na suporta sa aming mga kliyente sa bawat yugto ng kanilang implementasyon ng proyekto. Ang mga kumplikadong solusyon ay binubuo ng isang koponan ng mga may karanasan na mga abogado nang indibidwal para sa bawat kliyente.
Raphaeltoisk said...
In Malta it is possible to incorporate a closed and a public limited company. The minimum share capital of a public company is €46600 and €1200 for a private company. At the time of incorporation at least 25 per cent of the capital of a public limited company and 20 per cent of the capital of a private limited company must be paid up. Taxation Profits earned by a resident company whether in Malta or abroad are subject to income tax at the rate of 35. However Malta does not impose tax on dividends interest and royalties remitted abroad no withholding tax and Malta has no transfer pricing or thin capitalisation rules. transfer pricing-the sale of goods or services to interdependent persons at intracompany non-market prices. They allow the redistribution of the total profits of a group of persons in favour of persons in lower tax states. This is the simplest and most common scheme of international tax planning aimed at minimising taxes paid; thin capitalisation – when the company’s activities are financed by borrowed funds. Value Added Tax is levied on the sale of goods works and services in Malta. The VAT rate on the island is 18. Some goods are subject to preferential rates of 5 e.g. printed publications hotel services and 0 medicines and foodstuffs. There is no property tax and there is no turnover tax on the transfer of shares in companies owned by non-residents. Malta also has no exchange control legislation and a Maltese company can conduct its economic activities in any currency in the world.
ArthurPer said...
Cost of starting and maintaining a company. If you are planning to start a micro-business with a small number of employees or run your business on your own countries with high start-up and maintenance costs Switzerland Luxembourg Liechtenstein are unlikely to be the best choice for you. In addition to the cost of starting a company it is also important to consider the costs of maintaining it: the cost of accounting services the obligation to undergo an audit the need for local employees and the need for a physical office in the country of incorporation. Company control. Before starting a business in Europe and choosing a country to open a company it is worth paying attention to the corporate legislation of the country you have chosen – in some European countries Switzerland Bulgaria a company with foreign ownership has an obligation to have a local director who is a resident of the country. For some types of business this may be an insignificant and easy to fulfil requirement you have a partner a resident of the country in which you fully trust but for other types of business it can be a significant problem and it is better to try to solve it at the earliest stage choosing a European country to open a business in which there is no such obligation. Confidentiality of information about the company’s beneficiaries. If inaccessibility of data on company beneficiaries is critical for your business Cyprus and Switzerland will be the preferred choice for opening a company in Europe. It should be borne in mind that in some European countries information on all company members is freely available Estonia while in others it can be ordered for a small fee from the Commercial Register or from a private company that has such information.
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