Is growing a small business a numbers game? Since growing a small business eventually translates to the number of sales closed, then should we assume that the sales process is a numbers game? I am old fashioned. Using a pipe line as an analogy, “What (quality) you put into the pipe and how much (quantity) determines what you get out of the pipe”. In other words both quality and quantity have to be an essential part of successful sales effort.
All good athletes can, at any given moment, give you their personal statistics in their sport. As a small business owner, you should know how many calls, contacts, e-mails, responses, appointments, and sales you have made.
Tracking your activities also includes your on-line activity, social media, e-mails and text messages that you sent. Your data base growth is one good way to track your effectiveness. Let’s not forget networking as something that needs to be tracked.
If you track your numbers in all these activities, you can then asses both the efficiency and the effectiveness of your sales activities.
Numbers are exact. A certain number signifies a specific thing. When analyzing your numbers they should also be exact. Saying that “I attend networking sessions and blog” does not mean a thing unless numbers are included and the results of those numbers.
Two more terms:
Efficiency is how much activity you are generating in the time block allotted for a particular prospecting activity.
Effectiveness is the ratio between the activity and the outcome.
How are you tracking your Efficiency and Effectiveness? Everything you do to grow your business depends upon the accurate tracking and analysis of your marketing/sales efforts.
MAKE IT A GREAT DAY!
Tips & Advice by Nick Petra, CFP – Founder of Strategic Duck and BizQuack
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