Increase Revenue 80% Using a Profit Process
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This version was presented at the National Constitution Center for Constant Contact in May of 2014. The secret to successful sales is followup, but what does that really mean? And how can a CRM help you? What is a CRM? Do you need one? If all you want is to take strangers and turn them into dollars, what is it that you need to make that happen?
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Increase Revenue 80% Using a Profit Process
- 1. How to Increase Your Revenue 80% Amy Larrimore, Managing Partner The Empire Builders Group
- 2. So You’re Here to Get Rich?
- 4. Rich is the easy part….
- 5. Generating Revenue is a PROCESS Strangers Leads Prospects Clients IntensityofMarketing IntensityofSales
- 6. The Process of Profit: Manage Conversion Strangers Leads Prospects Clients FAIL: Be Boring FAIL: Miss the Flirt FAIL: Make Buying Hard FAIL: No More Romance
- 8. The Process of Profit – Sorting Strangers Not Seeking Seeking
- 9. The Process of Profit: A PROCESS Strangers Leads Prospects Clients How do I talk to strangers? What does it take to interest a stranger?
- 10. How do I talk to friends? What does it take to get you to play?
- 11. The Process of Profit – Interested Leads Seeking Quality Seeking Commitment Seeking Features Seeking Price Seeking Convenience
- 12. The Process of Profit: Creating Leads Strangers Leads Prospects Clients FAIL: Be Boring
- 13. If I were a realtor… by Chris Brogan • I’d write a blog about the location where I was selling and post tons of pictures and walking tour videos I took with a Flip Camera. • I’d film interview videos with people from my community. • I’d host meetups and tweetups for local residents, inviting people who are house hunting. • I’d empower as many local businesses onto the Net as I could, and help them get successful. • I’d encourage as many people in my community to join Twitter as possible, and I’d bundle them into a list. • I’d find various niche communities (developers, stonemasons, parents) and start community platforms for them on Ning. I’d consider setting up hyperlocal news and events sites. I probably wouldn’t put pictures of me in a tie (or a dress) and write about the rates, pitch you dozens of times in a row or just rehash links to listings in badly formatted email blasts.
- 15. The Process of Profit: Find Prospects Strangers Leads Prospects Clients FAIL: Miss the Flirt
- 16. The Missed Flirt Not Boring Message Person Engages Segment Targeted Not Boring Message Person Engages Segment Ask or CloseWhen someone engages, follo w-up with something interesting to them.
- 17. The Process of Profit – Engaged Prospects Seeking Quality Seeking Commitment Seeking Features Seeking Price Seeking Convenience GOOD Content elevates the INTEREST to ENGAGEMENT
- 18. The Process of Profit: Close Clients Strangers Leads Prospects Clients FAIL: Make Buying Hard
- 19. The Process of Profit – Conversion to Client Sorting Creating Interest Engaging Conversion
- 20. How many clicks does it take? Your Web Site Social Media Site World Wide Web $$$$$$$$$$
- 21. The Process of Profit Seeking Quality Seeking Commitment Seeking Features Seeking Price Sorting Creating Interest Engaging Seeking Convenience Takeaway: Don’t think about why they SHOULD use you, why can’t they stop?
- 22. How Convertible are You? What is your product or service? How many steps for me to purchase? Is it clear how I begin doing business with you? Can I fan, follow or receive updates from you?
- 23. The Process of Profit: Create Lunatic Fans Strangers Leads Prospects Clients FAIL: No More Romance
- 26. The Process of Profit: Referrals Strangers Leads Prospects Clients
- 27. HOW AM I GOING TO DO ALL OF THIS?
- 28. Oh Wait! I Know, I’ll Google It.
- 29. When You Try to Use Technology In Place of a Process…
- 30. What is a CRM? How can it help? CRM: Customer Relationship Management
- 31. Technology of Marketing and Sales Strangers Leads Prospects Clients $ Ops CRM
- 32. Keeping Tabs with CRMs Remember Susie? We’d have a record of that And her contact details And our interactions And next steps 3 Seeking Quality Segment You could just run a report of what to do today
- 33. Sales + Technology = Sales! 3 JUST BIGGER!
- 34. TECHNOLOGY is the SECRET SAUCE
- 36. What Do I Need To Do Today? [SPAM] ONE DAY ONLY. 20% OFF SITEWIDE BUY 5 TO GET A FREE SANTA HAT? ME! ME! ME!
- 38. Ask Me Anything! Amy H. Larrimore @AmyAllStar 1-267-825-7311 amy@empirebuilders.com Datatechprocess.com Crmchooser.com
Editor's Notes
- No AnimationWho here came to learn about social media? I have bad news. I’m not actually a social media expert. Was that what you were expecting?Yeah, sorry. I’m an expert at making money. Who here came to learn about making your business more successful?Alright. (Make people cheer) Who can get behind that idea? Super! Well then YOU people are in the right place. I am a strategic business planning expert – I help companies use technology to make their business processes better, faster and more efficient. So if you’re going to sit in my seminar, you aren’t learn about any snake oil charms, you’re going to learn things you can take home and DO to make your business more successful today. Be really clear – I am NOT going to navigate the nuances of facebook. Because that actually doesn’t MATTER. Not one bit. Knowing how to use that doesn’t make you more money. Period. Knowing how to use technology to reach your customers and turn them into sales does. The rest is just details. This is why you’re on social media. We’re here to make money. Yep, that’s why it’s business!
- [ANIMATION]Discuss the Sales FunnelMarketing is more intense the less related you are to the person and sales are more intense the more related you are to the person.(Marketing) Strangers – Attract and Cull Content, Be Findable, Be Targeted, Provide Value(Marketing – Sales) Leads – Interest, Engagement, Qualification, (Sales – Marketing) Prospects –Negotiation, Conversion(Sales) Clients – Close, Cash(Sales –Marketing to beginning) Champions – Be RecommendableAt the end of the process, you create champion clients who then refer you new business or come back for more new business [CLICK][CLICK] to advance
- [ANIMATION]Instead of thinking about driving traffic, lead generating, prospecting, think about how to move people to the next step[Click for red arrows to begin to fly in, all will go one after the other]Strangers become leads when you are interesting enough to follow. Leads become prospects when you notice what they are interested in and court them. Prospects become clients when you can identify what they need and when and then close the sale. Clients become Superstars when you continue to treat them with the same level of service no matter what. IF you had to summarize all of these fail points into one word? What would it be?DON’T ADVANCE WITHOUT THE ANSWER!!!!!![Click to Advance]
- (ANIMATION)And about how much revenue is lost because you don’t followup?(click to animate)80%!So if you fixed these fail points by turning sales into a PROCESS in your organization, you’d create followup and you’d see your revenue go up 80%. (Click for graph to cover followup)It’s totally true. If you fixed these fail points and added followup, you could reliably trace your sales graphs upward and see an 80% increase. This is the magic of six sigma methodology. The trick is the DOING it. So let’s talk a little bit about that(click to advance slide
- [ANIMATION]The first step of the process is to attract strangers. This is usually called “generating traffic”. I would assert this is really about SORTING strangers into those who are SEEKING and those who are NOT SEEKING.[CLICK] – Heads sort out and they are labeled as seeking and not seeking automatically. Example: Mothersware – sending me diaper samples because I bought a gift card. NOT SEEKING. What a waste of resources and they wonder why it didn’t work. NOT SORTING WELL ENOUGH. This is where you would apply some of the laser strategies you learned in the Linkedin Session[CLICK] to advance
- Triangle on slide when it appears - I want you to think about this as a PROCESS – something interconnectedWhen you DON’T think about it that way, you focus on the TACTICS. [CLICK] How does I talk to a stranger? When you DO think about it like a process, you focus on the change points. [CLICK] What would it take to get a stranger to think I’m interesting? Oh. Not being boring. [CLICK] To Advance
- Anyone ever taught a kid how to make friends? [Click]Tactics: How do I talk to friends[Click]Strategy: What does it take to make this place interesting to play in? Is that a DINOSAUR?
- Ppl are already on the slide when it loadsI know you don’t have a crystal ball so you can’t possibly know what they want. Biggest #FAIL – thinking price drives everyone. [CLICK] to see their interests[CLICK] to see examples and the right people will blink when their example comes up Iphone – features and quality and commitmentWalmart is convenience and price and commitmentCompetitive analysis – do not weave these things into your message unless you can actually stand out. Know what your competition is doing.Now that you’ve sorted out your seeking strangers (telling the right people you exist) – Now create DESIRE in them for you. Knowing is not the same as wanting. Matching your Message to the type of lead – no one seeking product w customer service in this example. This is where email marketing comes in very handy, especially if you’re doing segmented lists – you can have a different message for each group
- (no animation)
- [ANIMATION][Click for Picture to Vanish]I’d write a blog about the location where I was selling and post tons of pictures and walking tour videos I took with a Flip Camera. I’d film interview videos with people from my community. I’d host meetups and tweetupsfor local residents, inviting people who are house hunting. I’d empower as many local businesses onto the Net as I could, and help them get successful. I’d encourage as many people in my community to join Twitter as possible, and I’d bundle them into a list. I’d find various niche communities (developers, stonemasons, parents) and start community platforms for them on Ning. I’d consider setting up hyperlocal news and events sites.I probably wouldn’t put pictures of me in a tie (or a dress) and write about the rates, pitch you dozens of times in a row or just rehash links to listings in badly formatted email blasts.[Click to advance slide]
- (no animation)People like good information and will refer good information. It CREATES INTEREST.I have a client who runs a travel business catering to high schoolers and he has a website (and free classes) on travel safety for teens. Guess how he finds most customers? It’s REPUTATION building, just in a slightly different way. Take the skills you’ve used to build a great brick and mortar business and apply it to your fans on the web. People are people, no matter how they arrive at your doorstep.So solve the first fail point by not being boring. Figure out what it takes to interest your strangers.
- (no animation)
- (no animation)
- Heads and Intererests are on the slide when it loads[Click to see the Engagement Campaigns and heads blink]Walmart – Commitment “We save people money so they can live better”Old Spice – Features “The Man Your Man Could Smell Like”Burger King – Price “Sacrifice Your Friend For a Whopper”The interest becomes the basis of your content - content creates engagement
- (no animation)Keep providing content (the marketing can’t stop – sometimes we move too much into sales here)Manage this process for themTheir channels, their methodology, not yours. Tracking is important.How many clicks does it take?How difficult is it?How reachable are you?Are you terrified of closing the deal? Software developers selling consulting to offer their scheduling software first for 6 months and then trying to sell the software instead of just selling the software.
- [No animation]Start with sorting, then creating interest, then engaging with good content, then sorting some more, etc etcENGAGED people BUYGives you the runway for the right amount of “touches”This is called CONVERSIONProspect becomes a CustomerCONVERSION is how you measure the return on a marketing investment.
- [Click]Step 1: Pan for gold – sort out the SEEKERS[Click]Step 2: create interest – make your product or service appealing in a personal way[Click]Step 3: Engage interested seekers – begin to create a relationship[Click]Step 4: Repeat the cycle until [Click] conversion[Click]Step 5: Turn them into lunatic fans – Venture Capitalist Why Should I use you vs. Why can’t I stop? Seven Deadly Sins[Click to advance]
- (no animation)Now the project/sale/whatever is over. What do you do with your clients? Do you send them your crap marketing messages advertising “buy now” on things they already have?This isn’t about referral programs either. It’s about relationships. What value do you bring to the people in your business life?
- No Animation
- [animation]Networking is not about talking, it’s about being useful. This quote from William Morris reminds us about efficiency in our home – we should keep things that are useful or are beautiful to us. HAVE NOTHING IN YOUR HOUSE THAT YOU DO NOT KNOW TO BE USEFUL OR BELIEVE TO BE BEAUTIFULIn our people, we should keep people that are useful or bring us joy. To previous clients, which one are you? Be one or the other, and then you will create lunatic fans.
- (no animation)And when you are USEFUL or WELL LIKEDPeople refer you business. They don’t refer your business because if 5 people sign up they get a 20 dollar credit. Your customers don’t have time to work that hard for $20 or 10% or whatever – probably not the ones you want either.
- No animationNow you’re getting stressed. This sounds great. This is what we need. This sounds like makes sense and it’s going to work. But How are you going to possibly do all of this? You get the theory – you understand you should be doing all of this, but taxes are due, it’s back to school night, you have a business to run…. Listen lady, you just don’t understand……
- Click to bring in all logosThis is the sales processIt generates data, it requires good people and there are technologies to help power it.CRMs fall into this categoryWe’re launching a new product in the next month called CRMchooser.com – it’s an algorithm to help match you to the correct one
- CRM – Customer Relationship Mangement, Prospect Relationship Management$ - Accounting, BillingOps – Manufacturing Resource Planning or Enterprise Resource Planning, Practice Management, Project Management, Task Management
- Click to bring in SusieAnyone remember what she was interested in from when we sorted strangers before?Click to bring in Quality. See you’d all be terrible salespeopleClick to bring in words and the pictures with themClick to bring in buttonMost of the people who are engaged enough to get to your website probably won’t buy the first time OR customers who already bought need to keep being courted by you. Keeping the relationship hot and heavy requires that you maintain it. To do that, you need information. Record your customer relationship management informationPlenty of free and low cost based applicationsKnowing when they make a decision and what they named their kids will bear fruitHaving help keeps the details straightWhat if you win the lottery?
- (no animation)On the other hand, I don’t want you to be afraid of technology either. It’s just a little extra boost to what you already know.
- Notice I said it was the secret sauce. It’s not the main course, or even listed on the menu for goodness sakes. It’s the SECRET SAUCE. Failure of most marketing campaigns is a failure to sell, not a failure of technology. Clients who come to me and say they have had x failed technologies get red flagged for process audits. So when people find out I’m a technology expert, they always want to dash over and ask me if I think salesforce is right for their business. YES OR NO?(click for Porsche)That’s kind of like me sayingI’m a vehicle expert and you running up to tell me you’re in the market for a new vehicle and do I think a porsche is right for you? YES OR NO?(click for qualifiers) How many people do you need to fit in it? What kind of climate? Etc etcetc. This is why we don’t start with talking about the technology. We start with talking about the process. What do you need to DO and what do you need to DO for your business. So it’s really important you think about the technology as a SECRET SAUCE. (click to dissolve back to sauce screen)It is additive to the good process you’ve put into place. Too many times we pick the technology first and it makes us make dumb decisions about sales and marketing and then it makes it all not work even more. But we’ve spent quite a bit of time together talking about this good process so I think it’s a good time to talk about what technology can make this much easier to do.
- Come sign up for our 10 weeks to success list – you’ll get an email each week giving you the in depth DIY on how to go in linkedin, find who you need, make your content, put it into constant contact, send it out, followup, say, “IS THAT A DINOSAUR?” and get sales.
- Business Development No Longer Feels Like This: (CLICK to bring in audience picture)(Click to bring in Snuggie Picture)(Click to advance slide)