It can be tempting to leave out calculating your ROI if your business is running smoothly. You’re already working hard to attract new clients, provide vital advice, and foster relationships.
If you’re making enough from this, then why add more work to your busy schedule – particularly if this won’t bring new money in?
Because knowing your ROI allows you to designate funds more imaginatively, plan long-term projects, and keep your momentum going through a fallow month.
Adding up the Costs
Unbiased enquiries, like all business coming through, don’t always convert into paying clients.
But on average, advisers convert enough Unbiased clients for a year’s ROI of 4,776%. So for every £1 put into Unbiased, the clients converted return £47.76 in revenue.
Advisers convert around 40% of their accepted enquiries into paying clients. Of these paying clients, the average initial revenue made from each one is around £1,600. The average lifetime revenue is £6,800.
Even if only one client is converted in a year, that’s more than enough for you to come out on top.
So although enquiries won’t always convert, keeping track of your ROI is key to gaining a full understanding of how your business is doing, and where the extra funds may be to boost growth.
The Bigger Picture
Thinking enquiry to enquiry will make your business fluctuate with the ups and downs of each one’s performance.
Not only does this cause you unnecessary stress, but it makes planning for the bigger picture much harder.
Thoughts of a long-term marketing push or new staff member can be derailed by the anxiety of a poorly performing month.
But by tracking a year’s performance these fluctuations can be ironed out - allowing you to make bold business decisions with clarity and confidence.