What's Your Batting Average?
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If your key business metrics are stuck - we can help.
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Most businesses are a result of of two customer participation metrics:
1. The number of customer transactions; and
2. The average size of each transaction
While this sounds incredibly simplistic, unless you take proactive steps to impact one or both of these metrics, your business will shrink. It's as simple as that. And if your business has been around for 20 years or more, it is getting harder and harder for you to impact these metrics using conventional means.
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If you are a McDonald's or Starbuck's franchise, your objective is to a) increase the number of customer transactions for your store; and b) increase the average order size associated with each of those transactions. So the key customer metrics that you are charged with increasing might look like this:
Customer transactions per month: 12,953
Average order size: $9.78
If you do not make it your proactive mission to increase either or both of these numbers you will shrink.
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If you are a youth soccer association, your job is to appeal to parents to sign up their kids for the coming season. Your key customer metrics from last season might look like this:
221 Registrations
$75 per registration
If you are unable to increase the number of registrations and/or the cost for each registration, your association will shrink.
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If you are a University Foundation, your challenge is no different: to increase the number of donors to your annual fund and increase the average amount each donor gives. So your key customer metrics might look something like this:
1. 61,235 annual donors or 15 percent of the 400,000 in your alumni universe
2. $402 average gift size
If you are unable to increase either or both of these metrics, your efforts will yield less and less. Sadly, many institutions think they are doing the best they can. But to put the success rate of most institutions of higher learning in baseball terms, there are very few .300 hitters. And if your batting average is less than .300 - or 30 percent - then you are not doing your job.
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Getting more people to sign up for soccer, return to their Mercedes dealership to buy another car, or to donate more frequently and at higher levels to their college's annual fund is what we do. If you'd like us to demonstrate how we can help you increase your key customer metrics, click here to sign up for a no-obligation online presentation.
We have an amazing track-record of turning lackluster direct customer appeals into record-breaking results - and in the process, turning you into a super-star.
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