Challenge:
This small manufacturer had an excellent reputation for quality and on-time delivery. While they generated over 250 NEW leads per year, they were only converting 6% of those leads to actual sales – a waste of time and money.
Our Goal:
To increase sales conversion rates without discounting or sacrificing profit margins.
Actions Taken:
Clearly defined our ideal customers and specific criteria based on customer needs and company strengths. Made the decision to turn down (say no) to prospects who didn’t meet our criteria — saving time preparing quotes that weren’t likely to convert.
Developed compelling reasons (benefits) to choose the company and reinforced this within all our marketing and sales efforts.
Modified the advertising and re-allocated dollars to other tactics improve lead quality.
Developed and implemented a multiple-touch sales system which included adjustments to our quote process.
Our Results:
Within 3 months, the sales conversion rate increased from 6% to 16% and the average customer transaction increased from $710 to $1,161, indicative of the higher quality customers they were attracting. Overall sales increased 14% during this period without discounting or eroding margins.
Ready to Create Your Own Success Story?
Are you ready to move your business in a better direction and wonder if working with a business coach can make a difference? Then let’s explore the possibilities with a complimentary consultation. It’s a chance to get to know each other, discuss your goals and the obstacles that hold you back. Together we can determine if there is a good fit between your needs and my services.
To learn more or schedule an appointment, call me at (856) 533-2344 or drop me an email Joan@HybridBizAdvisors.com