Here’s how to make a quick win for more sales
You want more sales. And you want to get them sooner rather than later. We will share with you the quickest way to see exactly what’s going on in your sales process, and how you can squeeze more out of it.
You’re going to need access to 4 sets of data. Reach, the number of website visitors, adds to cart/leads, and finally sales. We want to compare like with like so when you note the figures note them all for the same time period, for example, last month. Let’s start at the beginning.
Why reach is important for more sales
Ok, they lied. They told you numbers don’t matter. #sorrynotsorry – they do. The more people see your content the more people you will have visit your website and the more people you will have taking action on there. Think of your social media as a shop window, the more people you get to stop and stare at what’s on offer, the more people want to explore more and come into your shop. The more people you have in your shop, the more sales you get. And not only that you get a bit of extra bang for your buck because if people see lots of people looking in your window (engaging with your social media) they follow. People follow the crowd. We just do. It makes us feel secure.
So reach matters. How do we get reach? Regular posting of relevant on-brand content, good hashtags, shares, tagging people – work that social media algorithm baby!
STEP 1 – Make a note of how much reach you achieved over all your social media channels last month. You can find this in the analytics of each social media channel.
Get people in your shop – website views count
As I said in the previous section, think of your website as a physical shop. People visiting your website are people browsing in your shop. Clearly, the more people browsing, the more sales you will make. Yes, there are other considerations, what pages they visit and how long they spend there. But for now, let’s keep things simple.
STEP 2 – How many people visited your website last month?
They’re thinking of buying! It’s the add to cart, lead, or enquiry stage.
They’ve decided to take action to possibly purchase. This is an interesting stage. Many people are shocked at how many people add to cart or enquire but don’t go on to purchase. At this stage some people are considering buying, some will just be ready to commit.
STEP 3 – How many people enquired, or added to cart last month?
Finally, the end result you want – get more sales
How many customers shopped with you? We’re looking at order numbers here, not product numbers sold. If 1 customer ought 5 items we count that as 1 order/sale for the purpose of this exercise.
This is the end result we want for our business.
STEP 4 – How many people purchased last month?
Let’s put all this together to get more sales
Note down all your figures – your figures may look different this is just a random example.
REACH – eg 100,000 people
WEBSITE VISITS – eg 1000 people
ADDS TO CART – eg 30 people
SALES – 8 people
We received 1000 website visits from a reach of 100,000 – this means 1% of the audience clicked through. Giving a click-through rate (CTR) of 1%.
Of the 1000 website visitors, 30 people added to cart. This represents 3% of the visitors.
Finally 8 of the people who added to cart actually purchased. This represents 27% of people who added to cart.
We can do 2 things with this data. We can work out an overall conversion rate (sales divided by reach multiplied by 100). In this case it would be 0.008%. And we can compare each stage to benchmarks to see where our conversion process is lacking.
Click through rate – aim for 2% of your reach to visit your website
Add to cart rate – aim for 5% of your website visitors to add to cart
Purchase rate – aim for 50% of your add to carts to turn into orders
Overall conversion rate – aim for 0.05% of your reach to become customers.
In the above example with my figures, we’re lacking in all areas. We need to prompt people to click through more, we need to improve the experience on the website to increase people adding to cart and we need to make improvements to the checkout process to get more people to commit to ordering. Without spending a penny to increase reach you can improve the number of sales. And you can do this immediately and make changes that will instantly improve your conversion rate and the number of sales made.
If you feel overwhelmed…
When you look at the figures for yourself, if you feel overwhelmed, focus on the one that is the most lacking first. It’s always worth keeping an eye on these metrics and improving them, however, maybe once you’ve tackled the first one.
If this feels way too overwhelming we do offer an audit where we do this for you. We will pull all the information together and what’s great is you can easily compare periods, like a day, week, or month to other periods. Our audit will come with a list of actions to take to improve your sales rate so you’re looking at changes you can make to really maximise what you’re getting out of your business.