Know-How Exchange : Research/Metrics

Wow! There are averages for this?

Even if there were, I'd stay away from them. Do you work and keep track. Unless you're looking for an inside secret from AFLAC, you're better off developing one specific to your company. You'll then be in a better position to adjust and measure.

Michael

Michael and Agnieszka are 100% right.

It doesn't matter one bit what someone else is doing.

What matters is what you're achieving now; and what you can do to improve it.

If someone told you AFLAC achieves 75% at every step, would you be any the wiser?

In any case, conversion won't always be consistent. Certain campaigns may prompt enquiries from better qualified prospects than others leading to increased conversion rates.

What you need to to benchmark yourself, look for ways to improve, measure the improvement, and set in place a continuous improvement program to micro-tune the changes to your own business performance.

Don't forget, you also need to measure funnel LAG, i.e. how long it takes to get from one step to the next, along with LEAKAGE or conversion rates between steps.

Hope that helps.

ChrisB

Let me clarify my point. The company I am working with has never tracked their sales funnel. I am wanting to set benchmarks. Knowing that Aflac gets 75% at each level would be of huge importance. Tracking will be done but management needs to know what to expect so that they may take actions to correct underperforming areas. They may find that 15% at one level - does this need correcting? Not if the industry standard is 10%.
Telling me that I need to track is not an answer.