Most people focus on one way to increase their profit and/or revenue; get more customers!
They often forget there are actually many ways to increase sales, and the smart business owner will do some or all of these things. Here are the seven areas in your business which, if increased, will increase profits. How many are you focused on increasing?
1. Number of inquiries from prospects that come into a business.
2. Percentage of those inquiries who turn into an appointment or real engagement. (In online terms, this would be the number of prospects who take the time to read further into your business or offering.)
3. Percentage of those inquires that turn into a sales presentation (In online terms, this would be the number of prospects who reach one of your sales pages and read most or all of it.)
4. Percentage of sales presentations that turn into an actual sale.
5. Size of the average sale.
6. Number of times the customer comes back to purchase more products / services from you.
7. Systems you have in place to re-engage with people who don’t buy from you.