I had a call with Stephen, the CEO of qfit today. He started marketing his software to fitness club owners. When I first talked to him about marketing the discussion was vague. But today he knows that for every 100 prospects he receives 1 new customer. As he improves on his strategy that number will continue to climb.
In marketing it’s easy to get caught up in trying to get awareness. Things like making sure you have a presence on all social media, gaining engagement on your Facebook page, attending events or creating partnerships with other companies.
But what good is this if you constantly have no idea what works?
The amateur marketer sprays and prays for results. Meaning they keep jumping from tactic to tactic never sure of what works. While the professional marketer is pragmatic. The professional aims for predictability.
The professional is the painter not the paint.
The professional’s attention is not on what works on random occasions of luck and timing, but rather figuring out a system to get to where it wants to go.
How many prospects lead to a sale?
This number is not only essential in having a base you can improve upon but will also be essential when/if you choose to sell your business because it allows the buyer to estimate the size of the market opportunity.