I want to start this post off by thanking my friend Sean for sending me this link. I have fallen out of the habit of writing like I should during our busiest quarter of the year at work, and this was just the thing I needed to get me going again. The funny thing is I have had this same talk with several of my sales people in the last week as we were planning out the new “plan year” for them.
The subject of that talk was what I call the 10% principle. In my experience the difference between the top and bottom performer on a team is usually less than a 10% difference in conversion percentages. However that small difference in performance can equal 200% or more difference in salary. On my team my top producer converts leads at about 7% and my bottom at about 4% and the difference in what I pay them is… well lets just say its a lot since several of my staff read this blog.
So that brings up the question how do you get that 10% improvement? The same way you eat an elephant. One bite at a time. To see how I teach my staff to break down their conversions take a look at my article Start With the End in Mind. This article will give you the basics on how to dissect and analyze your conversion data. Once you have done that find the places you could do better in and try to get 1% better in one area this week, then next week pick a different area and try to improve that area by 1%. Over time these little 1% differences in your conversion funnel will pay huge dividends over time.
This is one of the pivotal principles I teach my staff. With out this level of understanding of your conversion data I do not think you can maintain longterm success or make significant improvement.