Part 2 - Your Daily Goal
Hello again everyone!
I hope you all are having a great week and a fantastic pre-thanksgiving November.
First, let’s take a quick second to recap the first part of this five-part series.
If you haven’t read the first part, please do so now. Don’t worry I’ll wait.
Just click below!
Now when we last left our marketing/business plan for 2020, we had set our ( most likely going to be changed) yearly goal. We identified our busiest and slowest seasons, used math (sorry for putting you through that), and broke our yearly goal up into monthly goals based on the ebbs and flows of our year. We then left it off by breaking our goal even further down from a monthly goal to a weekly goal. Everything fresh in your mind? Great! Let’s move on to the next part.
Don’t forget at anytime, if you start feeling overwhelmed, I can always meet with you in person or over the phone and answer any questions you have!
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Your daily goal should encompass everything that you (key word # 1) AND your marketing (key word #2) should be trying to reach together (key word # 3) to make sure that statistically you are doing everything you need to so you can reach your weekly, monthly, and yearly goal. So how do we know what our daily goal should be? Well, first we need to understand what our close rate and impression conversion rate is. For this year, both of these percentages will most likely be guesses, as you won’t have the hard data that you need to accurately plan. In the last part of this series I will outline the important information that you need to record. Not just personally but to hold your marketing firm accountable for their part as well. For today we are going to touch on the first part, the close rate.
For those of you not in sales, your close rate is the amount of meetings you have to go to before you close a new client. You may hear people boast about excessively high close rates but don’t worry, this isn’t about raising your close rate, it is about understanding it. If your close rate is lower, then you think it should be, however, let me give you a little pick me up.
A lion, one of the world’s most amazing predators and touted as the world’s best hunter, has a close rate of 25% so if you have better than that good for you! Hopefully you know where I am going with this. Your daily goal must factor into all of the meetings you are going to have before you actually close a sale. So, as an example, let’s say your weekly goal is one new client a week. If you are using the close rate of a lion of 25%, you have to attend four meetings a week to reach your goal.
Now we are done right? Not quite - because now you have to decipher and understand impression conversion rate. But that is for next week.
Pretty simple right? Fantastic! As long as you're still with me, tune in next week as we take you and your marketing’s daily goal to the next stage as we discuss your ICR or your Impression Conversion Rate. As always this has been Stephen Slappey, owner of Creative Consulting. The #1 Marketing Firm for Graphic Design, Social Media, and SEO (Search Engine Optimization. Have a great day!