RUNNING NUMBERS: LESSONS YOU CAN LEARN FROM TINDER TO HELP YOUR BUSINESS
Unless you’ve been living under a rock for the past 5 years (released September 12, 2012 – happy anniversary!) you would have come across the dating app, Tinder. Tinder is literally dating by numbers.
How does Tinder work? Well the user “swipes right” on a profile that they like the look of. If that person has also “swiped right” it’s a match and they can communicate through the app. This normally starts with random chat (sometimes too random if you’ve ever seen posts with Tinder Nightmares!) and the parties go from there.
I was catching up with a new associate and we got onto the subject of Tinder and the concept of the “running man.” He told me that his closest experience of Tinder was when a friend’s phone was taken from him. The person who took the phone proceeded to do something akin to a running man with his fingers on the smartphone – swiping all suitors right. This means that every profile was swiped. What happened from that point is that he received a certain percentage of matches. He went through and after removing those matches that were misaligned, reached out to the rest. He started chatting with a percentage of those matches, and then from there, he attended dates with a certain percentage of those, and finally ended up in a long term relationship with one.
I bet you’re thinking, “Well that’s great Shannyn but, you’re still not telling me what this has to do with my business.”
IT’S ALL ABOUT THE NUMBERS!
According to Jim Rohn, the Law of Averages says that if you do something often enough a ratio will begin to appear. Let’s work with the Law Of Averages and say that from every action you will have about a 30% return. Working on those averages. Let’s say you want to sign 5 new clients in the next week . What number of people do you need “swipe right” with to achieve that target? Using Tinder as the example, and aiming for just one long term relationship we can work back like this…..
1 = Long term relationship
3 = Short term relationships / long term dating
11 = First dates
37 = Phone calls
123 = Online chats
412 = Matches
1372 = Right swipes
4572 = Profiles reviewed
That’s a lot of numbers! But the same applies in business! You have to know your conversion ratio. That is how many people need to be in your network, to convert through all the steps of your sales funnel to get a sale. The equation is simple.
If you’re not getting sales, you’re probably not looking at enough profiles. Therefore you’re not swiping right on enough prospects, you’re not following up on the chat, you’re not engaging in phone calls, you’re not going on dates and you’re not working towards the long-term relationship; that is the sale.
These are the lessons from Tinder that will help your business. KNOW YOUR NUMBERS.
If you’re not getting to the relationship with your prospects, get in touch and let’s have look at your numbers.Tags: Business Money Sales