Here are some numbers you should know by heart:
What percentage of your business is organically generated? How many marketing dollars do you need to spend to generate an additional inquiry? How many phone inquiries does it take to convert a new customer? What’s your average revenue per case?
Knowing the answers to these questions begins to give you the answer to an even more important question. If I put X dollars into my business, how many will I get out?
Once you can accurately predict this, you can scale your business to any heights. Many funeral home owners can give rough estimates or educated guesses, but there’s only one way to have numbers that you can confidently base decisions on. You must diligently track your operations.
Tracking this data is not only imperative, but it’s also pretty easy. You can measure exactly how each marketing stream is performing by training your staff to ask potential customers how they heard of you. Use a shared spreadsheet to track the status of every call. You can even begin to track who took the call, what script they used and continuously improve conversion based on this data. Once you have solid data on call sources and customer conversion, you can back these numbers into your marketing spend.
It’s important that your team understands why your operations need to be tracked because they will most likely be the ones that are doing it. Start off small, but engrain it into your business process. Once it becomes a habit, start expanding the scope. There’s hundreds of different ways to track your operations, but I found the easiest and cheapest (free) way to do it is to use a google sheet to record every call or conversation. You can easily bookmark this to any computer or phone and anyone on your team can update this simultaneously.
Whether your plan is to grow by 10% or 1000% this year, it all begins with tracking.