What the Fluff is.... a conversion rate?

You've heard it bandied about. You know you should know. But its tricky to find the data.. you're not really sure what you need it for.. and what happens if you find it and then don't know what to do with it..etc etc ??

Don’t worry, you’re not alone! Many people I coach don't know their conversion rates. Or why they're important.

So let's get back to brass tacks.

It's really just a formula.

Number of conversions divided by Number of leads x100

But.. what exactly is a 'conversion'?

Good question.

‘Conversions’ are an action that you want people to take. It could be straight from an enquiry through to a purchase, or you could track conversions along the sales process to check where you are ‘leaking’ leads.

Sounds simple! So why is Conversion Rate important?

You can’t manage what you don’t measure. Conversion rates can show you: -

• How well your various marketing efforts are working
• How many of those enquiries end up booking
• and therefore what to focus on fixing, and what works well so continue doing..

Simplify it if you‘re new to this

• Start tracking!
• Try Excel if you don't have a CRM
• Count up the number of leads you receive each week and ideally, where they are from (eg. social media, website, agents)
• Count up the number of ‘conversions’ (eg offers, or bookings) per week
• Do this for at least a few months and you’ll get an idea of where you are.

What conversions could I track?

The most basic one is how many leads you get in, and how many turn into 'sales'. But there are others, and the more you get your geek on, the better you get at converting and seeing your hard-won leads turning into super happy clients!

Here are some examples of what you can track:

• Enquiry form completed from website visits
• Consultation meetings from enquiry form
• Bookings from consultation meetings
• Landing page visits to downloads of an asset
• Enrolments from Offers made

How about a maths example? Go on then..

You have 500 individuals visit your website each week.

100 enquiry forms each week.

30 bookings each week from these web leads.

Your conversion rates:

(100/500) x 100 = 20% website to enquiry form and

(30/100) x 100 = 30% enquiry to booking

Yes I know it sounds a bit boring.

But it is vital to know this information. PLUS it can be energising and motivating to know you're improving and converting! And let's be real, it's not just 'converting' and numbers, it's about helping REAL people reach their own dreams. These are humans, after all. Converting well is about helping more humans find their 'fit'.

Who the Fluff..?

Hello, I'm Nicola Lutz and I'm a sales trainer, mentor and coach, specifically for the education sector. I help schools, agents and service providers gain more enrolments in an authentic, customer-led way with integrity. I have the credentials to back it up - I have 28 years of experience in study abroad of selling, sales management, sales directorship and training and coaching. I am a Fellow of the Institute of Sales Professionals and hold the Ethical Selling Certification. I am passionate about helping students find their 'perfect fit' program and helping educators reach more students. I believe in selling with integrity and putting the student first. If you'd like to know more, just get in touch.