You have probably wondered how many contacts you should add to your list for a phenomenal Marketing strategy.
And in all objectivity, it majorly depends on 2 factors.
The first factor is the Channel of Communication.
What do we mean by a Channel of Communication?
It means the channel or the medium through which you communicate to your target audience or to your list of contacts.
The list of contacts that you must add to ensure your strategy’s success, highly depends on this medium.
For example, let’s assume you are selling an info product, priced at $250 and your sales target is $5000 per month.
In order to sell the product successfully to 20 people, your best bet would be to build an email list of at least 100 people, who would receive email campaigns from your end.
Now, if you were selling a non-differentiated, tangible product, incapable of being put to re-use such as a chocolate bar, your audience would be the number of people who view your advertising campaign, rather than your email campaign.
And the number you wish to reach simply depends upon a lot of factors, including the target market share you aspire to have, the advertising budget you possess, etc.
Now, the second factor is The Conversion Rate.
Conversion rate, in simple terms, is the number of people who actually make the purchase.
In assessing the number of people to add on your contact list, you must first conduct an analysis of the current behavior of your target audience, in relation to the sales target you aim to achieve.
For example, if you had a conversion rate of 1% on your campaigns and needed it to be 2% to meet your sales targets, you must certainly create a bigger pool of contacts.
Or optimize on the email copy to better boost conversion, keeping the target audience number constant.
These 2 factors assume a key role in the analysis and development of your marketing strategy, to ensure its ultimate success.
Another factor that of course, comes into play is your ability to better optimize and manage the business systems in your brand.
And keeping this in mind, we have designed an app specifically for you, to better manage and optimize contacts, to ensure there are no flaws in the system from your end. Covve is the simplest, smartest contacts app, and is here to help you increase your efficiency and productivity.
Updated on 27 Jul 2020.