Identifying KPIs in Your Business to Grow Sales and Revenue | Episode 13 #SmallBusinessTips Series

Sometimes the obvious is not so obvious when you’re buried face down and ‘in it’

If you really want to grow your business you have to pick your head up and take a step back and examine the things that really move the needle and count towards an increase in sales.

How do you do that?

Let’s break this process down into three simple steps – and at the end, you’ll know exactly what you need to do next to increase sales in your business.

✅Step 1 – Get Clear on Your Sales Process

What are all the steps that a customer or client will go through BEFORE and AFTER doing business with you?

For example, at our agency Digital Harvest it looks like this:

1️⃣ Client finds us through an online or offline channel and makes contact
2️⃣ We set up a time to speak with the client about their needs.
3️⃣ We evaluate the clients needs, perform an analysis of their current marketing, and create a proposal.
4️⃣ The client reviews the proposal and chooses to move forward with our services.
5️⃣ We render services promised and ask for testimonials and referrals.

Through this process, what we’ve discovered are the five different places we can focus our energy in order to increase companywide sales and revenue.

✅Step 2 – Volume or Conversion?

At each of these steps we have to ask ourselves two questions: what’s going to be easier and what’s going to make a bigger difference?

Do I focus on getting MORE or getting more out of LESS?

In the example above, we could focus on getting MORE leads (volume) – and that will positively impact our bottom line through all the steps of our sales process.

Alternatively, we could focus on closing more proposals and turning prospects into clients (conversion). We don’t have to do any more work per se, we just have to fine-tune that one step in our process to improve conversion.

✅Step 3 – Focus on One Thing

Now that you know the levers you can pull, focus on increasing the volume OR conversion in any of the steps of your sales process.

Even just a small change in one part of your sales process can have a dramatic effect on every other step. We’ve seen it demonstrated time and time again that by doubling our clients inbound leads will often lead to a tripling or quadrupling of their sales.

And that’s how just a little bit of focus on the right areas of your sales process can make a big difference in your companies’ revenue.

If you liked this video you’ll love Episode 12: Close More Sales by Switching to Consultative Selling

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