Image by Elimende Inagella on Unsplash
Question 1
If you increase the conversion rate of an email campaign by .25%, how many additional leads will that generate?
Question 2
If you increase the typical sales conversion rate for email marketing by .25%, how much additional revenue will that produce?
Question 3
How often do you review Questions 1 & 2?
If you want to fill a gap in your sales figures, answering those questions can be extremely helpful.
Better still is knowing how to achieve the increases in Qs 1 and 2.
A .25% increase doesn’t sound spectacular until you start putting numbers into a spreadsheet.
But speaking hypothetically,
- If a typical email to a list of 3,000 people generates a 2% response, you’ll receive enquiries from 60 people
- Of those sixty, say (typically) 25% convert into sales
- That’s fifteen orders
- If each order is worth £200, then sales of £3,000 are made
- Now, let’s increase both by .25%
- 68 (2.25% response) people respond
- 17 buy (25.25% conversion rate)
- Sales now total £3,400
- That’s an additional £400 of revenue or an uplift of 13% on the first example
Your numbers may deliver more spectacular results.
Your current response and conversion rates might be higher or lower than quoted.
These are examples, and I’ve kept the numbers simple.
The critical thing to focus on is achieving an uplift, and it doesn’t have to be .25%.
Incremental growth achieved consistently will deliver transformational results.
What works for email and direct mail also applies to trade show marketing.
We focus on helping clients grow their sales by combining direct marketing with exhibiting.
It’s a powerful combination involving some nitty-gritty work.
Often, it’s work our clients don’t have time to do as thoroughly as they would like.
And that’s where we can help.
Our consultancy service does all or some of the work as required.
You can engage for short or long-term projects.
If you’re wondering if this service will work for your business, consider;
- We will talk to you about numbers as much as content. That will grate with you if you think we should always focus on how things look.
- We don’t get excited about general numbers like open rates or samples collected from a stand.
- We note those things, but conversion is our focus.
- If you have a significant gap in your figures to fill and not much time to do it, we can’t perform miracles, so don’t engage on that basis.
We have limited slots each year, so if this approach to increasing sales and profits appeals, now would be a good time to start a conversation.
My email address is david@theexhibitionagency.com
Very best,