Understanding exactly why you are winning or losing new business

The Today's Conveyancer Podcast welcomes Mike Stainsby, Commercial Director at Conveyancer Insights on this week to discuss how conveyancing firms can use data and insight to drive better sales performanceWith 25 years service in and around the property market Mike brings a wealth of experience to the discussion which focuses on using data and insight to enable better decision making. Mike's own research yields some revealing statistics for conveyancing professionals. Indeed some consumer research carried out by Conveyancer Insights identified that 27% of respondents to a survey didn't even know what conveyancing was; The results lead Mike to challenge firms around how they are presenting themselves online to prospective clients. Are their website consumer friendly, have they considered review platforms, what does their sales funnel and process look like. An extensive mystery shopping exercise revealed that just 10% of online enquiries were followed up by phone by the firm and 7% of firms didn't send a promised quote. Pressed on the use of tools like online quote calculators Mike points to a statistic that there are 3.8m shift workers in the UK who are frequently unavailable to make contact during standard office hours; so why aren't firms using the tools available to them to capture these interested parties?The research also reveals that 2/3rd of firms are not tracking their quotes and conversions, and simply don't know their pipeline or conversion rates.  There is, says Mike, considerable room for improvement. "Ultimately we have to move away from those gut feel decisions and enable us as businesses to make informed decisions based on empirical evidence and fact" says Mike. The Today's Conveyancer podcast can be found on your preferred podcast provider and also at www.todaysconveyancer.co.uk. Subscribe and listen in for all the latest conveyancing industry news and views. Thank you to our podcast sponsors LEAP Legal Software and InfoTrack