Posted on 04 November, 2019 in

Increase conversion rate

Where are you now?

The third way to grow your business is to increase your conversion rate.

  • Are you measuring your success at converting leads, quotes and proposals to sales?
  • Do you regularly review why you aren’t converting more of them?
  • Are there stand out performers in your team who have a higher than average conversion rate?
  • Are you using the right people in the sales process?
  • When you deal with customers are you dealing with the decision-makers?

Don’t deal with gate-keepers, get straight to the people who can make things happen.

Your conversion rate might be sales made as a percentage of proposals delivered or sales meetings held. If you’re not measuring these, you need to start right now.

How to calculate the current conversion rate

Sales conversion rate % = sales won / enquiries received

Quote conversion rate % = quotes won / quotes prepared

Proposal conversion rate % = proposals won / request for proposal

Installation conversion rate % = installations won / installation enquires

Strategies for boosting conversion rates

  • Use a follow up system
  • Guarantees
  • Sales training
  • Proposals with options (the choice of yeses)
  • Offer diverse payment options
  • Educate on value not price
  • Ask for the sale
  • Address the pain points