Greetings from Plan It Life Coaching!  March was a busy month with trainings, seminars and workshops.  Thank you all for you referrals to the various associations and chambers!

  

April is now focused on my own business development and social media.  I'm both excited and scared.  I'm enrolled in a 4 week workshop with C2B Development with Renia Carsillo.  So far it's been incredibly informative.  Feel free to take a look and Click Here. 

  

You can also connect with me through the links for facebook and linkedin.....I'm learning!  Please pass this information along to others that might have interest.

One of the most important activities you can do with your business is track your conversion rate.  Your conversion rate refers to the percentage of new clients or closed deals you have against each prospect meeting.  That means if you met with 10 prospects for the month and 2 became clients, you'd have a 20% conversion rate.

  

Most people tend to ballpark their conversion rate.  They don't track the exact numbers, but create a guesstimate in their minds.  The challenge with this is two fold:  we tend to exaggerate our successes if we are optimistic or we underestimate our successes if we are pessimistic.  The best chance to creating results in knowing exactly what we are producing.

  

Last year I began tracking my conversion rate from referrals.     In other words, how many of the referrals that I received led to closed business.  Do you know   that more than 90% of the time, my referrals led to closed business! 

  

What's the power in knowing this number?   If our numbers are low (less than 30%), than we have an opportunity to alter our approach with prospects.  If our numbers are high (greater than 70%), but we are not meeting our goals, we can spend our energy with marketing and fiiling the pipeline with even more prospects.  (Take a look at this Sales Training Manual for more information.)

  

If you do have a low conversion rate, consider your approach to building rapport with your prospect and meeting their needs.  Did you know that 'selling' to people requires different tools depending on their behavioral style.  Some styles love to hear about testimonials and what has worked for others.  While others are far more interested in what the research reports.  Want to hone your skill?  Sign up for the DISC Sales Training!  DISC Sales Webinar