Need More Customers, Master this Simple Formula

Need More Customers, Master this Simple Formula

If you are interested in delivering faster and more sustainable growth than others in your market or industry, then please read on. If business growth does not interest you, then take a pass on this one.

One of my clients, that I have been working with for a little over 2 years, has used this simple formula to deliver top line growth of 36% in 2015, 61% in 2016 and in the first two months of this year, 81% growth.

What my client understands is that customers are merely a result of certain activities working in conjunction with one another. This is true for any business, in any industry, anywhere in the world. Customers are a direct result of the businesses lead generation activities and the businesses lead conversion capabilities. The simple formula is:

(# of leads generated) x (lead conversion rate) = (# of customers)

That’s right, the number of customers are a function of the effectiveness of your marketing tactics (lead generation initiatives) and your sales effectiveness (lead conversion) working together in harmony. While your business may excel in one area or the other, you must be proficient in both areas to deliver double digit growth year after year.

While the formula is simple, the implementation of improvements in marketing and sales effectiveness are not as straight forward. It requires being able to track and measure each of your marketing tactics and develop a solid ROI to be in a position to make timely investment decisions. It requires an understanding of your most effective lead conversion strategies and what you can put in place to improve the conversion rate.

At FocalPoint, we call this the Customer Formula and it is the first part of a four part formula outlined in our Way to Wealth program developed by Brian Tracy. If you are interested to download the Way to Wealth Formula worksheet for your business, please click the link below or copy and paste into your browser for your free download.

John Channon

Award Winning, Certified FocalPoint Business Coach


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