The Client Letter
April 25, 2013
Sunny 34 Degrees
How many clients do you want? Pick a number. Write it down.
Now how many prospects are you communicating with on a monthly basis? Get your number. Write it down. (Be honest with yourself.)
Take the first number (the number of clients you want), and divide it by the number of prospects you’re currently building a relationship with.
This is the “conversion rate” you have to hit to generate the number of clients you want.
If you want 1 client and you’re communicating with 100 prospects, your “conversion rate” has to be 1% to hit your goal. Get it?
In the world of direct marketing, you’re doing well if you hit 1% for your conversion rate. 1%!
What’s the conversion rate number you just came up with?
Is it reasonable?
I’m pretty sure that very few service providers have a true “getting clients” challenge. The issue is really the leads. There are too few of them and that makes the necessary “conversion rate” completely unreasonable.
How many prospects are you talking to? How many are you being valuable to?
How many relationships are you building?
I think a good goal to aim for is at least 100 to 1. 1000 to 1 is better.
For every 1 client you want, start building 100 relationships.
Then just keep doing that.
The whole thing is a bit like trying to roll a big boulder up a mountain. It’s hard and slow at first.
(But the willingness to do this work creates an excellent competitive advantage.)
And it’s important work to be doing. It doesn’t pay off today, but it does pay off. But when you get caught up in client work, it’s really easy to let this slip.
Every month, I send out a reminder to help you focus on your business instead of getting completely caught up IN it.
It reminds you to think and do things that will contribute to your future success.
Right now, there’s an awesome audio included in the package when you sign-up for this “reminder.” In it, I interview a service provider whose fees jumped from about $750 per project to over $30K.
You won’t see this interview mentioned on the page below, but it’s included in one of the downloads.