Do you track the ratios of your prospects to presentations to proposals to closes? These simple ratios can offer tremendous insights into the health of your sales and marketing engine. Further, they can elucidate specific challenges in your business. For example, let’s say that you offer monthly web seminars which result in 100 registrants per month. Of these 100 registrants, 10 move further down your sales funnel (see blog entry called The Prospect Scorecard) and result in individual presentations (10%). Of these 10 presentations, five request proposals (50% of presentations or 5% of webinar registrants), and are deemed “proposal worthy” through your well defined Prospect Scorecard or other measuring system which your company has in place. Lastly, of these five proposals, two close, or 40% of proposals or 2% of the original 100 webinar registrants.

Now that you’ve established your ratios, are you happy with them? If you are, then you may want to increase webinar registrants, allowing more prospects to cascade down through your funnel. Or, perhaps you think that a 10% conversion rate from webinar registrants to individualized presentations is too low. You would then need to determine what should be done to influence that metric. For example, perhaps your webinars need a more compelling call to action, a special offer to move to an individualized presentation, or you could make it easier for the prospect to meet with you by offering an abbreviated one to one web meeting or conference call. There are actually many things you could try to refine your ratios, of course you have to have these in place to do so.

Your company now has simple and easily measurable metrics for your sales process. Extending these measurements to your marketing engine, in this particular case, can be as simple as measuring where webinar registrants arrived from (LinkedIn or other Social Network, ePublishing, eMail Marketing, Referral, etc.) and then tracking the resulting prospects through the sales funnel mentioned above. Many small businesses fail to measure these key metrics, which is really very simple to accomplish. We track all of these for our own sales and marketing efforts at StartUpSelling, Inc. You can read more about this on our website, or in my recently released book, Your Virtual Success: www.yourvirtualsuccess.net.