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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 second part of this five-part series.
If you haven’t read the first or second part, please do so now. Don’t worry I’ll wait. Just click here
When we last left our marketing/business plan for 2020, we had partially set up our daily goals by calculating our close rate. 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!
Today we are talking about your Impression Conversion Rate or your ICR. ICR is the amount of people that you have to talk to, have to see your business, or have to be told about your business to want to gain more information.
In online marketing this is mainly used to denote the amount of people that have to see your ad or post before clicking on it to want to learn more about your business. Marketing professionals have to also factor in click through rates and other percentages before they can figure out the exact impression conversion rate, but for the sake of this lesson we are trying to figure out the overall ICR - so don’t worry about that until you call us for help on next week’s lesson.
Across all industries in the US, the ICR is 2.35% which means to get one person to actually pay attention to your business you have to get in front of 43 people. Now again, let me be clear that DOES NOT MEAN that if your social media ad has 43 impressions that you should have gotten a phone call. Once click through rates are added in, it is more likely to be around 4,300 impressions but like I said this isn’t about marketing yet. This is about you.
So to finish out our example from before, if your goal is to get one new client a week. You need to set up four meetings. To set up those four meetings you will need to get in front of 172 new people per week. So, drum roll please……..
This means working Monday through Friday that you need to talk to a total of 35 new people every day about your business. Please note this is the amount based on the example above not what you or your company should do. Your numbers should be different based on your goals from the previous lesson.
“Stephen, that isn’t possible. There is no way with everything else I have to do each day that I can talk to that many people per day.”
I completely understand but don’t worry, you don’t have to do this alone. You do however have a choice to make. Either you are going to do it by yourself and you may need to readjust your goal (see I told you last week) or you will have to sit down with a marketing firm (I know a great one you can contact by clicking here) and decide what you will be responsible for bringing in and what your marketing should be helping to bring in.
Please also understand that this doesn’t just mean your online marketing but all of your business’ marketing.
Pretty simple right? Fantastic! As long as you're still with me, tune in next week as we take your and your marketing’s daily goal and create a daily actionable plan to achieve that goal.
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!