You’ve got a prospect in your pipeline. How long will it take for that prospect to become a client? Any idea? If not, you need this tool.
On Freelance Switch, Jason Finnerty has shared a great, easily adaptable tool, for tracking Prospect to Client Conversion time. Check out his post on Freelance Switch:
If you don’t have a client tracking system in place to measure how long it takes to convert a prospect – your potential customer – into a client – a paying customer – you probably will have a hard time predicting what your monthly income will be.
I am not an Excel guru, but I have created a quick spreadsheet that you can use to track how long the process takes. If you are diligent about filling in the data, you will soon be able to analyze where your new customers are coming from and what the fastest method of converting them is. I know, not all customers are the same, but with more data you should find more consistency.
I hope you find this useful – and I already know that it’s not pretty, I’m a writer, not a designer, but it should be a good tool to help you start to predict your revenue for the coming months.
Any tips on tracking prospect to client conversion time?