Business Isn't Just A Numbers Game.
You have often heard that sales is a “numbers game.” You’ve heard the same about marketing and social media, prospecting and public relations -- all business strategies that ultimately measure success by a quantity.
In other words, the more people you talk with, the more times you can tell your story, the better chance you have of generating significant wealth, driving effective messaging, and smartly navigating the challenges off your industry.
You don't need to be convinced that numbers matter.
Whether you are tracking your numbers in a CRM or just your bank account once you close deals, you know how important the numbers are to your financial health.
Every business, every department, every team has numbers. You have numbers right now. Lots of them.
- You know how many emails you are sending each day or the potential revenue value of closing the deal you're working on right now.
- You know how much money you made last month and how much your bills are next month.
- You probably know how much it costs you to hire a new employee or buy new technology to automate your marketing processes.
You know those numbers.
So why isn't your business improving? Why aren’t your numbers helping you better your game.
Because they are not the right numbers.
What you are tracking doesn’t force you to improve anything unless things get so desperately out of control that you have to do something extreme (usually that happens when you're running out of money.)
That’s a clear indicator. When you aren’t inspired to make any business changes you are tracking the wrong numbers. You are looking at the wrong information. Your numbers are the wrong numbers.
So what sort of numbers are important? What should you be looking at?
Each business has different strategic advantages that make it a player in the industry. If you can tell someone else what makes you better then you should have the numbers behind that statement.
You should be tracking numbers that make you better.
If you are the cheapest company in your industry then you should be keeping track of everyone else's prices. You should also be tracking the costs of your suppliers and vendors. You should be forecasting potential commodity price changes. Everything you're tracking is about price because those numbers are important to your strategic differentiation.
If you are the premium player in your market then tracking prices is a wasted effort in number crunching. It doesn't matter how much more expensive you are then everyone else. So stop researching that. You should be tracking numbers like repeat customers or number of testimonials from existing customers or the number of referrals that you receive.
A premium player builds value based on their reputation in being the best at what they do. So all of your numbers should revolve around that strategy.
There are countless different number sets that align with strategies that make your business successful.
There are a few numbers that propel any business to greatness.
- Numbers like how many outrageously satisfied customers you work with each month.
- Numbers like how many unsolicited “Thank You's” you receive for going beyond the value that customers think they are paying for.
Numbers like that don't magically appear on your dashboard.
It's a part of a culture of high performance. And stellar results.
When you ask for them and track them and expect them, those numbers appear and grow.
Because after all, it really isn't a number's game after all. It's a "right numbers" game.