Saturday 11 May 2024


sales image
Hmmm, it's the weekend, Folake is reviewing her weekly SALES. She's calculating the return on investment on the Facebook Ads she ran, how many leads she generated, how many percent she converted, and her PROFIT for the week. Looking at her books, it is obvious that she is not as profitable as she should.

How did she know this? 40k was "invested" in lead generation, she got 100 QUALIFIED leads, was able to convert 10%, she sold a product of 10k, and only 10 people bought from her. So, she had a revenue of 100k. Subtract the money spent on the ad, what's left is 60k. Also remember that she paid someone for the ad, and it cost her 30k for the service charge. Subtract 30k from the 60k profit, what's left is 30k.
Is Folake profitable? Obviously NOT. Are there possible mistakes she made within the sales process that limited her sales? What could be the "ceilings" on Folake's sales that's not obvious to the UNTRAINED marketing eye?
I'm certain you don't want to be like Folake, you always want to be PROFITABLE. Let's look at possible limitations you can curb to increase your sales.
● Your Efforts Aren't Matching Your Sales Goals: Every business owner has a sales goal, but not everyone of 'em is putting the required efforts to ensure they meet their goals. You planned on hitting 1 Million in pure profit this week, this was just the first step, your next line of action should have been to count the cost, then you double down on the cost. Goals won't achieve themselves, you need to DOUBLE DOWN.
● You Don't Factor In Reality In Your Sales Game: No matter how you prepare or plan, you can't plan away reality. No matter how you pray, you can't pray away reality. Expenses are reality, operational costs are reality, marketing costs are reality, so when you plan your sales, you need to factor this in. Because for most people, 80% of their profits goes into operational cost and expenses. They're into business, but have nothing to show for it.
● You Only Have One Traffic Source: In business two numbers you shouldn't have are 08u and 1. Do you know why? 0 multiplied by any number is zero. 1 multiplied by any number remains the same. Don't have 1 traffic source. Don't have 1 supplier. Don't have 1 marketing channel. Have at least two, one can fail, you can fall on the other. Lastly for this piece.
● Your Are Not Aggressive With Your Follow Up: I'm not asking you to become a pest to your prospect. I'm just saying you should not be LAZY about follow up. This is where the money is. This is the bridge between lead generation and conversion. This is where the work is, but if you get this right, your profit will be very good. If you add what you just saw to your sales strategy next week, I believe you'll definitely convert more sales.

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