To maximize your return on investment (ROI) with FinanceVine leads, it’s crucial to set clear and achievable key performance indicators (KPIs) and targets. Here’s a framework designed to help you 2x your investment within 90 days:

Understanding the Sales Cycle #

Before setting KPIs, it’s important to acknowledge the typical sales cycle length:

• Mortgage: Average of 75 days
• Life Insurance: Average of 65 days

This means your KPIs should be spread across three months to align with these timelines.

90-Day KPI Targets #

To achieve a 2x ROI within 90 days, aim for the following KPIs:

• Month 1: Consultation Rate – At least 25%
  • Focus on scheduling consultations with at least 25% of the leads you receive. This demonstrates strong initial engagement and sets the stage for future conversions.
• Month 2: Application Rate – At least 10-15%
  • Of the leads who attended consultations, aim for at least 10-15% to complete an application. This indicates a strong interest in your proposed solutions.
• Month 3: Conversion Rate – At least 5-10%
  • Ultimately, your goal is to convert at least 5-10% of the initial leads into paying clients. This reflects successful closing and ROI generation.

Important Notes:

• These are minimum targets, not averages. Strive to exceed them whenever possible.
• These targets are based on industry averages and FinanceVine’s client data over the past 5 years. Adjust them based on your historical performance and experience *within reason* ie an 80% fund rate is probably never going to be a reality. 

Tracking and Measuring Your KPIs #

• ROAS Sheet: Utilize the provided ROAS (Return on Ad Spend) sheet to track your progress. This sheet allows you to monitor your spending, lead volume, consultation rates, application rates, and conversion rates.
• Monthly Measurement: Measure your KPIs monthly to assess your performance and identify areas for improvement.
• Regular Review: Review your ROAS sheet monthly to stay on track and make necessary adjustments to your strategies.

Setting the Right KPIs & Targets #

• Measurability: Ensure your KPIs up to date for each week on Friday on the ROAS sheet 
• Achievability: Set realistic targets that are challenging yet attainable.
• Relevance: Choose KPIs that are directly aligned with your business goals.
• Time-bound: Establish specific timeframes for achieving your targets.

Factors to Consider:

• Market Conditions: External factors such as interest rates or economic conditions can impact your success.
• Time of Year: Certain months will be busier than others. This is normal. Its about achieving an average over a long enough period
• Your Sales Skills: Your ability to build rapport, present solutions effectively, and close deals will play a crucial role.

By setting the right KPIs, tracking your progress diligently, and continuously refining your strategies, you can maximize your ROI with FinanceVine leads and achieve significant business growth.