the road to business success - are your [really] prepared?
DESCRIPTION
Presentation to franchise client group about improving sales efficiency on the road to business success.TRANSCRIPT
THE ROAD TO BUSINESS SUCCESS – ARE YOU [REALLY]
PREPARED?March 24, 2011
What About Fuel-Efficiency?
Lack of Efficiency Costs Money
And it Can Affect All in the Car!
Business Planning
Preliminary Planning CPA, Financial Planner, Attorney Business Model & Concept Funding Location Equipment & Supplies Employees Customer Targets Advertising & Marketing
Is it Enough?
Is it Enough?
Getting the Engine to Run
Getting the Engine to Run
Sales – The Fuel That Drives The Business
Engine!
Would you…
just put in the minimum amount of gas? not care if there was gas in the car? ignore fuel efficiency? be happy with running out of gas?
Of course…
the answer to all these questions is…
Now, Let’s Revisit Fuel-Efficiency
Would you…
ignore necessary repairs? be happy with increased expenses? not care about additional costs?
Of course…
the answer to these questions is also…
So…
if sales is the fuel that drives the business engine, why is the fuel gauge often ignored?if improving sales efficiency helps improve sales volume, why is it not made priority one?
What is a Lead?
What is a Lead?
A lead is anyone who contacts your business for any reason pertaining to your products or services!
A lead is a repeat customer… each time! A lead is the result of advertising,
marketing and public relations efforts! A lead is the result of money and/or time
spent to attract customers to your brand and stores!
Sales cannot happen without leads!
What is Sales Efficiency?
Sales efficiency is total sales divided by number of leads.
For instance…$40,000 sales divided by 2000 leads results in a sales efficiency of $20
Improving Sales Efficiency
Telephone Customer Service Follow-up Referrals And, of course… advertising, marketing &
pr
Improving Sales Efficiency
Telephone Customer Service Follow-up Referrals And, of course… advertising, marketing &
pr
What Happens with Improved Sales Efficiency?
If Improved to $25
2000 leads at $25 = $50,000 That means… $10,000 more sales
Without spending one more dollar for… Advertising Marketing Public Relations
Over the Course of a Year…
$10,000 x 12 = $120,000 You do the math!
Marketing Efficiencies…
Cost per campaign or ad Against desired sales volume Determines leads needed to be
generated Is the effort worth it?
For example…
Cost - $1000 At 10% - $10,000 sales volume desired Divided by $25 – 400 leads needed Is it worth it?
Choices and Options
Sales-driven Mindset
Starts with leads Must be primary focus Managed by accountability Defined by results