“Half the money I spend on advertising is wasted;
the trouble is I don’t know which half.”
Imagine a world where you knew which half worked…
Now imagine a world where you knew how many sales you could close, just by the amount you spent on online marketing.
Our Digital Marketing Strategy Solutions do just that!
The way it works is a very simple formula, and to get started all you need are a couple of things from your sales team. How much is a new sale worth and the conversion rate from leads to sales.
Once you have this information, we can look at the formula outlined in the diagram below.
If start from the bottom and move up; What do you need to do to land 10 new clients?:
- Determine or define the average value of a new client or sale. (Let’s use $1,000)
- Next if you know your typical close rate (We’ll use 50%)
- Then you can figure out how many leads you need to get 10 sales. (In this case you need 20 leads)
- Then we would figure out the percentage of visitors that become leads. We’ll use 1% here. So then you need 2,000 visitors.
- So finally, we would use our online marketing tools to drive 2,000 visitors to your website.
As you can see, using this formula you’ll be able to see exactly the return on your online marketing investment!
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