Stay In Touch With Leads And Get More Closes

Writen by Joy Gendusa

How many leads have come into your business since the beginning of time that never closed? That is a salient question. Who knows how many, but I bet there are a lot.

Whether a small company or a large one with a sales force, the leads that are always best are the ones that are easy to close. But what about the prospects that were reached but never closed? They are in an abyss - The Unclosed Sales Lead Abyss, technically speaking.

What are you doing to follow up? Are you following up? Do you have a fixed idea in mind about some time frame that those leads then become dead?

What does it cost you to get that lead? Let's look at a hypothetical analysis:

• Postcard marketing experts will tell you to send out 5000 postcards.

• It costs you $2000.00 to send out those postcards.

• Say you do that and you get 50 calls;

• That is $40.00 per lead.

The Return On Investment (ROI) of this example is as follows…

• You make $2000.00 off of every close.

• You close 20% out of those 50 calls (10 sales).

• You made $10, 000 less the 2G's for the postcards = $8000.00.

That is decent Return On Investment (ROI), but what about the 40 leads that never closed? That is $1600.00 sitting out there on table, spent with no return.

Now ask yourself, how many of your leads don't close per month? Take that theoretical situation and multiply $1600 by the other 11 months. That is a chunk of change that you are basically blowing.

Don't get discouraged. Getting educated in marketing and determining your ROI is a major step in the right direction. Great ROI is what you should be going for, but don't stop there. There is more to sniff out.

So, what are you doing to get all of those that initially reached for your product or service?

How many phone calls do you make before you decide that a lead is "unclosable" – zero, two, three? Did you leave a message on their voice mail and they didn't call back so you dropped them?

Most likely a one-man-band or a two to three-person operation is working harder than a sales force in following up on their leads. How many in a sales force are simply cherry picking their leads, so to speak, and not closing or following up with the rest? How many of these dropped leads do you have built up? Can you see the waste?

You need to follow up. Even if you didn't get the ROI you anticipated or needed, you still need to follow up. But how? More specifically, what kind of campaign should you do to get even more ROI? Good question. Here's the answer.

First of all, realize that these prospects reached for you, your product or service and you CAN rehabilitate that initial interest. They are much easier to close and more valuable than someone who has never shown interest in your product or service before. Build on that.

You don't now have to send out a mass mailing of postcards again to revitalize their interest – we're only talking about 20 to 100 leads that need to be followed up with a catchy message each month.

Yes, they responded to a postcard (if that is what was sent) and will respond again if it is the right communication. The same postcard may work, but what you are trying to do is send repeat communication to those initial "reachers" and word it in such a way that they will want to reach again. Send a direct mail postcard or an email or both – follow up with repeat mailings to that small cluster of people that is a different, more personal communication than what got them to reach the first time.

What would that message be? When you get calls off of your initial mailing, get as much information as possible – cull the data.

Have you ever heard of "Database Marketing" or "CRM" (Customer Relationship Management)? This means getting data about each one of those customers/leads and putting them in a database.

What is it that you need to find out? All kinds of things, such as, but not limited to:

1. How they found out about you in first place?

2. What kind of product they are looking for?

3. Do they have a deadline for that need? (This tells you how hot they are as a lead.)

4. What is going to cause them to purchase or not purchase? Ask!!

5. What makes them want to do business with someone or not? Again – ask!

You can find out all of this information while talking to the person on the phone when that person first calls. The more interested you are in that lead the more they will like you and will want to do business with you. It is not how interesting you are or how low your price is, or how great your company is – it is how much you actually are interested in them. Your initial closing percentage will actually go up and likewise you will have simple information that can be put into a data base (or a simple Excel spreadsheet) about your leads and you'll be able to find out what is the common denominator about those people. Then do a communication to those people based on those common factors.

By the way – this is what the big companies are doing, they already know about this. If you want to get big – do what the postcard marketing experts are saying and doing.

Take the information that you gathered and send out tiny little mailings. These particular mailings are for different segments of the people that have already reached for your product or service; the message is based on what they have told you.

Wouldn't it be great if it was really easy to send out a full-color glossy postcard that was specific to that one customer, all from your own computer? Where are you going to get beautiful postcards that have variable data and can get your small mailing out? Usually you have to send out the same piece and order a large quantity – companies have minimums. The reason why they have minimums is because that is the way it is cost effective to sell to you. At this juncture, though, you want to get your mailing out more inexpensively and still get results.

"Variable Data" is data that is printed on a postcard that is variable – it changes from postcard to postcard and can be taken from any database. What if you could put that on the front of a full-color glossy postcard and not have to type a specific letter?

Like "John Murphy, it is time for your dental cleaning" or "John Murphy, how about that pair of sunglasses you wanted?" or of you're doing mortgages, "John Murphy – what about refinancing that house for Johnny Jr.'s college tuition?"

On the back of the postcard, you could say:

"Dear John,

I understand that you were interested in "product" for the purpose of "purpose". (It is in the database – fill it in.)

Call me if I can help you make a decision.

Sincerely, Your name, Your number and information"

You can find companies that do this. Research on the internet and look for companies that allow you to stay in touch with variable data postcards. Research well and make sure they are going to do a good job for you. Get referrals, check samples – will they give you a chance to try out the product and see their turn-around time?

A final tip is that different people need different amounts of communication. When postcard marketing experts tell you to hit your target list of 5000 postcards over and over again, the reason why some call after just the first time and some others call after the second time and others call after the 5th time, etc., is because people move at different speeds in life and in business.

Now, with those that have called in you have closes that are slam dunks, but others operate differently when it comes to closing. So don't just waste those leads. Consistently put out your communication in the same way you did with your initial mailings, but with a more personalized message.

That is Database Marketing. That is how you get people to buy from you after they have reached by following up with them enough.

Put in your calendar to make three different follow up phone calls; if you get voice mail then leave a message that really communicates to them. Send a variable data postcard, send an email, but stay in touch. You will be glad you did – in fact you'll be smiling all the way to the bank.

Joy Gendusa founded PostcardMania in 1998, her only assets a computer and a phone. By 2004 the company did $9 million in sales and employed over 60 people. She attributes her explosive growth to her ability to choose incredible staff and her innate marketing savvy. As an Expert Author, she is always willing to share her marketing advice through articles, interviews and speaking engagements; visit http://www.postcardmania.com

Design Does Matter

Writen by Nicola Cooper-abbs

The idea that good design can improve how people perceive your business has long been a part of a designer's sales tools.

They try to convince you that by improving your image, maybe creating a new logo or changing the way you communicate with your customers you can somehow improve sales and improve your bottom line. But are they right? Over the years many companies have been sceptical about these claims because of a lack of concrete evidence. Designers struggle to back up their claims with written evidence and so this argument for good design often falls down at the first hurdle.

Companies fail to understand why they should invest time and money in improving their visual identity if there is no tangible result.

However, last year The Design Council released the results of a groundbreaking study on the link between the use of design and financial performance. The study published in March 2004 finally recognised the direct relationship between effective use of design and financial performance.

The study looked at 166 design-led UK quoted companies over a period of ten years from 1994 to 2003. A group of 63 companies were recognised as effective users of design. This was based on the fact that they consistently appeared in the listings at various design award schemes. The study reveals these 63 companies outperformed both the FTSE All Share and FTSE 100 indices by around 200% between 1994 and 2003.

The Design Council is a professional body which supports the work of the UK design industry. It works to demonstrate and promote the vital role of design within business and the wider UK economy.

A recent study by the Design Council, Design in Britain 2004-05, based on an annual business survey of 1,500 companies of all sizes and sectors, shows companies using design to innovate and stand out are growing faster than their competitors are.

According to the in-depth research, a third of the UK's fastest growing companies see design as integral to their business, while only 11 per cent of businesses with a decreasing turnover have this view.

The figures confirm the impact of design across sales, profits, quality, share price, market share and competitiveness.

Using design throughout your business ultimately boosts the bottom line by helping you create better products and services that compete on value rather than price.

Contact:

If you want to find out how you can improve your financial performance through design then contact sales@trulyace.com

About:

Truly Ace offers creative unique and cost effective logo design, commercial illustration, graphic design, and web design services.

http://www.trulyace.com

Copyright Truly Ace Logo Design, Graphic Design & Commercial Illustration

Hows Your Elevator Pitch

Writen by Mike Myatt

One of the first and most important professional communication techniques I was taught in business was the importance of developing an "Elevator Pitch"…a very short statement describing what it is that you do. In fifty words or less (about 30 – 45 seconds) you should be able to communicate who you are, what you do, who you do it for and how people benefit from what you do.

What I have come to realize over the years, is that while even the most novice of sales people tend to have an elevator pitch, very few C-suite executives or entrepreneurs have adopted the practice. Moreover, most of the elevator pitches that I hear are not very effective and have obviously not been refined to the point of becoming a strategic advantage. In fact many times even if the professional has developed an elevator pitch, they don't use it.

It's almost as if there is some unwritten rule that once you've achieved a certain station in life that you can ignore the basic fundamentals of good business and coast along resting solely on your laurels…It is the people that subscribe to this theory that seem to fall the farthest, fastest and hardest…I would strongly recommend that wherever you are in your career that you always pay attention to the basics that made you the successful person that you are today.

I believe so strongly in the value of a good elevator pitch that I have developed nearly 20 different variations which allow for their appropriate use based on environment, audience, need, service line, time availability, context, and situation. This gives me the ability to make a quick assessment of the situation at hand and to put my proverbial "best foot forward."

A well crafted elevator pitch will allow you to introduce yourself with credibility that engenders confidence while you are communicating a strong benefit statement that addresses a fear, need or potential painful situation…Put simply, it sets the hook. Here is the technique that I use and that I teach to my clients:

My name is (name, title, company) I specialize in assisting (target audience) with (value proposition). This can normally be done in fifty words or less (if the introduction has already been made with significantly fewer words) which can then be followed up by a short example of how you can help someone achieve their goal, overcome their fear or avoid a painful situation…Following are a few examples of my elevator pitches:

Version 1: This is my informal version that I use when the introduction has already been made and I'm asked what I do for a living…"I help people align their energies and efforts with their passions because it's simply been my experience that most people's daily actions are not in true alignment with their goals." 30 words…

Version 2: "My name is Mike Myatt. I'm the managing director at N2growth and we specialize in helping executives build a dominant personal brand so that they can achieve both increased job security and maximize earnings ability." 35 words…

Version 3: "My name is Mike Myatt. I'm the managing director at N2growth and we specialize in helping executives who are not happy with their current situation by serving as a catalyst for positive change and growth." 35 words…

Version 4: "My name is Mike Myatt. I'm the managing director at N2growth and we specialize in assisting C-suite executives and entrepreneurs with growing their revenue, their talent and their brand." 29 words…

Version 5: "My name is Mike Myatt. I'm the managing director at N2growth and we specialize in taking executives who are spread too thin and show them how to regain control by maximizing their impact and leveraging their resources." 37 words…

Each of the elevator pitches above has a short story that provides an example in support the statement made and demonstrates how we've been successful at achieving the desired outcome with others.

A good elevator pitch can be used as a personal or corporate branding tool that can serve you well in both business and social environments. It can serve as an introduction or calling card, an ice-breaker or attention grabber, the lead-in to a sales presentation, VC or private equity pitch, a networking tool or a myriad of other beneficial applications.

Create your elevator pitch today…then practice it, never stop refining it, and most importantly, use it frequently.

Mike Myatt is the Chief Strategy Officer at N2growth. N2growth is a leading venture growth consultancy providing a unique array of professional services to high growth companies on a venture based business model. The rare combination of branding and corporate identity services, capital formation assistance, market research and business intelligence, sales and product engineering, leadership development and talent management, as well as marketing, advertising and public relations services make N2growth the industry leader in strategic growth consulting. More information about the company can be found at http://www.N2growth.com

Motivate Your Market Force

Writen by Eric Okeke

Intro

Want me to tell you something on how you can motivate your market force in 2005. I will do so today. Tell you ideas that will power your marketing and promotions with force, if only you will appreciate their simplicity and common sense. Tell me.

A critical question: How simple, motivational and forceful are your communications and market

thrust? Is it all creativity, hi-tech and strategy, but no force? How easily digestible and real are your promotional messages?

Simplicity and Common Sense

This is a winning combination in today's marketplace, yet many corporate bodies and professionals discount them. The more complex your marketing, the more forceful, so they think. Not anymore. If you must lead the pack in your business, then keep your product packaging and marketing simple. You must stoop to the level of your consumers and communicate with force. These days, as you communicate and sell, you have to motivate your workforce and your customers. Why? Motivation and simplicity, they are the power, the market forces that will rule business this year. Without them, there is no force in your marketing. Some ideas.

1. Create your own medium

Your marketing costs should not be too heavy. You can keep it low by creating your own medium that is simple and cost effective. Here is what an American company does. It plants corporate messages right on the back of complimentary cards of its employees. The messages are seasonal. It can be on your vision/mission, ethics, quality control, or social responsibility. In not more than 30 words, you tell your story.

2 CEOs : Sweep the floor

CEO's. How do you communicate with your workforce? Do you limit it to managers? What about the staff at the bottom? They have information no one else has. Kenneth Hendricks, CEO of an American company gives this idea: "If you want to know really what is happening in most companies, you talk to the guy who sweeps the floor. Nine times out of 10, he knows more than the President. So I make it a point of knowing what my floor sweepers know even if it means sweeping the floor .

3. Business Mail

Who handles incoming mails for your company? Is it the corporate messenger? He collects all mails, sorts and distributes? Time to stop else you won't know when you sink. Besides, you can miss big business opportunities from a customer complaint or suggestion in a letter. Much depends on how your letters are handled. Handling mails can be a manager's job, no longer a messenger's job. Some CEOs insist on reading other mails besides those marked for their attention, or with their names. Treat all mails as if they are Letters to the Editor . Every magazine or newspaper worth its salt publishes such letters. Some even give financial rewards for the "star" letter of the week to encourage readers to write. CEOs, you can be the Editor of your incoming mails.

4. CEO Marketing

CEOs go out and sell. Do not limit your exposure only to your air conditioned offices. Go out and sell. When you do so, you power your corporate marketing and improve the bottom line. Do nott stay at head office holding endless management and board meetings. If that is your style, then watch out. It will soon reflect in your balance sheet. Next Annual General Meeting, shareholders will call for your head. You must motivate your market force. Take this advice from Jim Roch, CEO, the Boston Beer Company in the USA...."If more CEOs had to go out and sell their products, day in day out, they would pay a lot more attention to what they were making. When you are out there selling, there's no place to hide. It is the acid test".

5. Have an Open Day

Why shield your operations from your customers and other stakeholders. When they look at your business, all they see are corporate head offices, managers, titles, cars, promotions, and maybe your marketing team. And your customers are now wondering who are you? How do you operate? What do you do? What are your pains? Where are you going? They want to see you as you operate, not just bombarded by your marketing communications that maybe all promotions, no reality. Customers want persuasion now, not promotions. And persuasion begins with being real and open.

Educational institutions do that with Open Days. This is the day they throw their gates open for parents and other stakeholders to visit and see how they operate, how they teach, how the students interact with teachers, how they assess the pupils performances, to criticize, offer suggestions and get a feel the rhythm of the school.

You want your customers to measure your business pressure, have an Open Day.

Eric Okeke, corporate storyteller, motivational speaker, business writer and copy writer. He is one of Nigeria's most experienced financial journalist. I recommend that you read this valuable book, "How To Tell A Great Story" that is dedicated to teaching people just like you about the famed R.P.I Principle. Go now to http://www.howtotellagreatstory.com

Sign Holders

Writen by Chuck Thibaudeau

There are many different types of sign holders you can use in a retail merchandising campaign. The most important decision on which sign holder to use if based on the type of environment they will be used in.

A "harsh" environment will need something a lot stronger in a display, even though it is not as attractive as a acrylic sign holder. Metal sign holders and re-enforced plastics are much more resilient to breakage in this type of environment. An example of a rougher retail environment would be a Walmart Store. High traffic, high volume and long store hours will take there toll on point of purchase displays. An example of a more forgiving retail environment would be say a Bed and Bath Store or a Pier 1 Store, which can use a more upscale or eye catching display.

The reason long life becomes an important issue, even for temporary displays, is it must look good for maximum effectiveness as well as exposure. The longer a display is in "usable" condition, the higher the number of people who can absorb the marketing message. Just like any type of marketing you need a high number of contacts to make a sale, so the longer the message is in working order, the more people exposed to it, increasing the overall number of sales conversions.

The most important thing to remember when using a sign holder is to treat it just like any other type of marketing effort, it's effectiveness is based on the numbers game which governs all marketing efforts. When you take these factors into account, you can better plan your marketing of sign holders for maximum exposure, effectiveness and most importantly long sales life.

Chuck Thibaudeau is a Senior Vice President at Progressive Displays, Inc., a large display and fixture manufacturer in Rhode Island. You can see 1,000's of stock displays at their web site: http://www.pop2go.com