richreeves
Expert
- 42
What should be given utmost priority? How do you balance the need for a lot of leads and the need for high-quality leads?
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What should be given utmost priority? How do you balance the need for a lot of leads and the need for high-quality leads?
the more skilled you are, the lower quality you can work with
Not bragging, but I feel my skill level is fairly high. I just don't care to waste my time trying to convince someone to buy from me. I have better things to do during the day.
But if you really want to answer the OP's question, you have to add up both dollar costs and time costs.
Let's say your all-in-costs to acquire a new client is $100 and your average commission is $500 from lead source A. (When calculating costs Include the cost of the lead, what you pay your assistant for the time he or she works each lead, postage, etc.)
So your profit before your time is factored in is $400.
To determine what you make per hour, add up the time it took for each phone call, and whatever else you need to make each sale on average.
If it took you 10 hours, you made $40 an hour. If it took you two hours you made $200 per hour.
(You can go super deep and figure out the lifetime value of each client from each source including how many referrals you get and the LTV of the referrals, etc. but let's keep it a little more straightforward.)
Do the same exercise for each lead source.