Much of the work of an entrepreneurial business owner essentially boils down to monitoring, keeping track of and acting off of statistical analysis. You would be looking at things like quarterly earnings reports, staff turnover, recent hires, business trends and all manner of other similar data at any given point in time. Another absolutely critical piece of data that you would definitely need to learn about is the conversion rate that you are getting from your ads.
A big part of the reason why that is the case has to do with the fact that you need to meet a minimum conversion rate in order to confidently state that your ad campaign is a resounding success. Suffice it to say that not all of the people that see your ads are going to click on it, but you need to ensure that a reasonable enough number do so that your Clear Lake carpet cleaning business has enough foot traffic to keep it stable in the long run.
The bare minimum conversion rate that you should be seeing is around 35%. That doesn’t mean that 35% of people that see your ad should call you. Rather, the proportion of people that turn into leads will be the ones that we are focusing on at this interval. Over a third of these leads need to be converted into paying customers, otherwise you are going to have a really hard time indeed finding a way to maintain your business for as long as you need it to last. Anything lower than this is a sign that your business is starting to decline so try to act quickly if you see this.Continue Reading