You have no doubt arrived at this post because you are looking for new fitted bedroom and wardrobe sales leads for your business. But is this really the case?
So do the maths stack up? If you double the number of new fitted bedroom and wardrobe sales leads then you will double your sales and grow your business. That is true, but at the same time, you will probably more than double the cost of your advertising. (It will most likely cost you more than double as you will no doubt already be using the most responsive advertising medium, so you will have to start using less responsive advertising and so use more of it. So your costs will be higher).
And there are other factors at play too. Take a look at these sales rules.
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So if you have a fitted bedroom and wardrobe sales team then the sales team will first focus on the easy sales and they will not consistently follow up with the lukewarm/ colder leads as these may not enable them to meet their fitted bedroom and wardrobe sales target for the month. As a result, those leads who are not ready to buy now will quickly get forgotten about and “fall between the cracks”. As I mentioned above, as you go to “weaker” advertising in order to generate new leads, so you will generate less responsive leads and so you see the issue – you are generating lower value leads that are harder to close, that the sales team do not want and they cost you more money.
So what is the solution? Before you spend any more money on new fitted bedroom and wardrobe sales leads you need to implement an automated sales and marketing system that will work in sync and support your sales team. A system that does all the hard work in following up with prospective clients and nurturing them to a point where they are “warmed up” sufficiently to make it worthwhile for a salesperson to speak with them. This way the leads that have cost you money do not “fall between the cracks”.
So let’s look at the maths with a quick calculation.
Say you are currently getting a 1% conversion rate from your sales leads, and leads are costing £1 each. So the Cost per Acquisition (CPA) is £100. OK, let us say you implement a marketing automation system to automatically nurture those leads and then pass them over to the sales team when they are ready to buy. So we still get the initial 1% conversion. But then say we consistently follow up with the remaining 99% (who did not buy) over the longer term so that they begin to know, like and trust us. Now, say over the next 2 years we follow up automatically and gain another 2 sales from the initial 99 leads. So now then numbers look like this. We have 3X our conversion rate and so we have tripled the size of our business. Because we did not spend any more money on lead acquisition, so our Cost of Acquisition has come down from £100 to only £33. And this is without spending any additional money on advertising and lead generation.
Now at this point, you have a fitted bedroom and wardrobe sales and marketing machine that efficiently converts leads. And now you can start to look at using lower value/ higher-cost sources of leads because you have a finely tuned sales and marketing machine that can profitably convert poorer quality leads. At this point, you can effectively afford to outspend your competitors on advertising and marketing.
And all this is before we even consider the best AND lowest cost of leads for your business. Referrals from existing fitted bedroom and wardrobe customers. Are you actively asking your existing bedroom and wardrobe customers to refer friends and family to your business? The chances are that you are not proactively harnessing this source of leads. Once you have an efficient sales and marketing system in place then referral marketing can also happen consistently on autopilot.
So – do you really need more new fitted bedroom and wardrobe sales leads -or do you need a system to convert more effectively the leads you are already generating? If you are interested then this is exactly where I help my clients. If you would like to book a free Discovery call at a mutually convenient day and time then click here.
Fitted Bedroom photo by Photo by Francesca Tosolini on Unsplash
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