Always Remember To Think About Statistics…
Hi Lee Kenny from digitaljumpsuit.com here, joining you from the roof, up in Halifax. I wanna talk to you today about the little things in life, and how they can have a big impact on your business.
When you start your business, or maybe you’ve been going for a little while, you’re excited, you wanna get sales in, you wanna get your product out there, your brand built, all that sort of really great stuff, but I’m gonna urge you just to start thinking about the tiny things. So the tiny things are, how are you gonna measure this? So how are you gonna track whether you are, you know, are you doing a good job or doing a bad job? You know, maybe not a bad job, maybe doing a job you could be doing better at.
Well, one of those things is statistics. So you have to know, and you have to break this down into two things really, first of all, what are your goals? So if you have a goal to, be the number one in Halifax for something, you know, for your industry, or you wanna be the biggest, you know, widget provider in the UK, well the first thing you need to know is, well what’s that number? What number do you have to beat? So, start with that in mind.
Now, it may be a little more modest than that, you may just say, Lee, I just wanna make enough money so that the bills are paid. Wonderful, so now, what is that number? Is that number £2,000, is it £5,000, is it £10,000? And then you can start working backwards. How many sales, how many professional services would you have to deliver in order to make that happen? And then, you might have a number and say, right, I need to make three sales Lee, or I need to make three sales a day, or three sales an hour.
Okay, now we work backwards again. Well, what is the conversion rate? So the conversion is the closing rate, how many people do you need to talk to in order to make that sale happen? So if you’ve got a conversion rate of 3%, and you need three sales, then you’re gonna need to talk to a hundred people. That is gonna help you drive your marketing, drive your activity, and again it doesn’t have to be so overwhelming. I can see some of you with your eyes probably glazing over, saying, I didn’t get in this business to be in statistics, I got in to help people. Yes, but the statistics will help you. The number one way you can do this, particularly in the online world, is with something called Google Analytics. Free piece of software, nearly every major company in the world uses it, as well as small businesses, so go and talk to your developer, your web designer, if you don’t think you’ve got that on there, you may be surprised that it’s already been put on, but that’s gonna help you really start looking at the numbers.
Obviously, you need to be able to interpret those numbers, but that will go a long way in helping you develop. So, know the numbers, track them on a regular basis, and then you will know what activity you need to go on. I was talking to somebody yesterday in the office, and we were talking about this very thing, about conversions.
Often somebody comes to us at Digital Jumpsuit and would say, hey, I need more customers. And we say, okay, do you need more customers or do you need to convert the ones who are already coming, a little bit better? Let me explain. If we had a shop, a retail unit in the centre of your town, and a thousand people came in into that shop today, but nobody bought, the solution isn’t two thousand people tomorrow. We have to figure out what was wrong with the pricing, what was wrong with the product, and go and remedy those. If you only have two people coming to your website a day, you don’t necessarily have a conversion problem, you have a traffic problem.
So again, get in touch with us, we can help you, direct you in the right sort of way, or keep watching these videos, and then you’ll certainly be able to start to get a feel for how to improve those. So, I hope you find that useful, if you’ve any comments, if you just do not know where to start, pop a question below and we’ll be more than happy to have myself or one of the team, you know, just communicate with you right here below this video, and we’ll help out and point you in the right direction.