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	<title>Small Business Buying, Building and Selling &#187; conversion rate</title>
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		<title>Internet Marketing for Small Business &#8211; Commitment</title>
		<link>http://EthicalBusinessBuilder.com/2010/01/17/internet-marketing-for-small-business-commitment/</link>
		<comments>http://EthicalBusinessBuilder.com/2010/01/17/internet-marketing-for-small-business-commitment/#comments</comments>
		<pubDate>Mon, 18 Jan 2010 01:30:41 +0000</pubDate>
		<dc:creator>ethicalbusinessbuilder</dc:creator>
				<category><![CDATA[Ethical Marketing]]></category>
		<category><![CDATA[conversion rate]]></category>
		<category><![CDATA[internet marketing]]></category>
		<category><![CDATA[jay conrad levinson]]></category>
		<category><![CDATA[opt-in]]></category>
		<category><![CDATA[small business growth]]></category>
		<category><![CDATA[small business marketing]]></category>
		<category><![CDATA[small business websites]]></category>
		<category><![CDATA[website commitment]]></category>

		<guid isPermaLink="false">http://EthicalBusinessBuilder.com/?p=421</guid>
		<description><![CDATA[In my Internet Marketing for Small Business series of blogs we reviewed the 3 pieces of your small business’ online presence: Traffic Website Commitment We then discussed the 3 primary ways to get Traffic (Search Engines, Online Ads/Google Adwords, Viral Marketing) and of course reviewed videos explaining some basics of Viral Marketing, Search Engine Optimization [...]]]></description>
			<content:encoded><![CDATA[<p>In my Internet Marketing for Small Business series of blogs we reviewed the 3 pieces of your small business’ online presence:</p>
<ol>
<li>Traffic</li>
<li>Website</li>
<li><strong>Commitment</strong></li>
</ol>
<p>We then discussed the 3 primary ways to get Traffic (Search Engines, Online Ads/Google Adwords, Viral Marketing) and of course reviewed videos explaining some basics of <a href="http://ethicalbusinessbuilder.com/2009/12/07/internet-marketing-for-small-business-viral-marketing/" target="_self">Viral Marketing</a>, <a href="../2010/01/09/2009/12/11/internet-marketing-for-small-business-search-engine-optimization/" target="_self">Search Engine Optimization</a> and <a href="../2010/01/05/internet-marketing-for-small-business-google-adwords/" target="_self">optimizing your Google Adwords campaigns</a>. We most recently looked at some great tips for <a href="http://ethicalbusinessbuilder.com/2010/01/09/internet-marketing-for-small-business-your-website/" target="_self">your website</a> in my last blog.</p>
<p>The final piece to the puzzle and the item we&#8217;ll be reviewing today is the <strong>Commitment. </strong>The commitment is simply the visitors commitment to buy from you or to contact you for more information if you&#8217;re not selling any products online. Obviously we&#8217;ve been talking about the sales aspect of your website, not how it caters to current customers, so with that in mind, everything you do to your website should be geared towards that goal. Here are a few pointers for achieving that.</p>
<ol>
<li>Setup your website layout and design according to <a href="http://ethicalbusinessbuilder.com/2010/01/09/internet-marketing-for-small-business-your-website/" target="_self">my last blog</a>.</li>
<li>Use <a href="http://ethicalbusinessbuilder.com/2010/01/09/internet-marketing-for-small-business-your-website/" target="_self">the 4.5 points of marketing</a> to address their questions and concerns.</li>
<li>Offer them something for free in exchange for their email address.</li>
</ol>
<p>Since the first 2 points were addressed in the last post, we&#8217;re solely going to focus on the third.</p>
<p>When buying a product, <strong>the primary reason people use the internet is to educate themselves by reading information about the product or service they are interested in.</strong> They may also be looking for the best value, but without knowing what makes a product or service valuable they&#8217;ll first have to educate themselves on that product or service. This is where you have the opportunity to set yourself apart. If you&#8217;re an online retailer, the best reason for someone giving you their email address would be to receive email notifications of special sales and promotions. However, if you&#8217;re a service or knowledge-based business, they can have many reasons for dealing with you. A few thoughts your prospect may have to consider would be:</p>
<ol>
<li><span style="text-decoration: underline;">Your level of expertise</span> &#8211; Can you fix their problem the right way the first time?</li>
<li><span style="text-decoration: underline;">Your history</span> &#8211; If your business is less than 5 years old chances are you&#8217;re not going to be here in another 5 years.</li>
<li><span style="text-decoration: underline;">Your prices</span> &#8211; Are they fair and reasonable for the services you deliver?</li>
<li><span style="text-decoration: underline;">Your credibility</span> &#8211; What do your customers say/think about you?</li>
<li><span style="text-decoration: underline;">Your guarantee</span> &#8211; If you turn out to not do what you told me, what do I stand to lose?</li>
</ol>
<p>Now your website can do a great job of addressing most of that, however you need to hold something back. You need to not let the cat out of the bag on your expertise right away. Why? After all, that may be the most important thing to your client and what they NEED to know about you before making a decision. Exactly. Because of that, if setup correctly, <strong>your potential client will gladly give you their name and email address in exchange for you sharing some of your expertise with them. </strong>Read that sentence again and let it sink in for a minute. That&#8217;s your hook. If the rest of your website is setup in such a way to address the other 4 items (and any others you may determine your prospects want to know) then they&#8217;ll trust that you are an expert.</p>
<p>This is where you utilize an &#8220;opt-in&#8221;. An Opt-in is where your visitor opts-into your mailing list or newsletter. Obviously the key to getting someone to decide to sign up for your newsletter is to offer them your expertise for free in return. So once they opt-in, you email them a PDF or direct them to a web page where they can download a PDF providing your expertise. (<a href="http://mailchimp.com" target="_blank">Mailchimp.com</a> can get you started with this for free.) This would be in the form of an article, whitepaper, special report, expose&#8217;, or research paper addressing your expertise. For instance:</p>
<ol>
<li>For a law firm &#8211; <em>&#8220;The top 10 cost-saving questions you need to ask before putting down a retainer for a lawyer.&#8221;</em></li>
<li>For an accountant &#8211; <em>&#8220;The top 10 things your accountant missed on your last tax return.&#8221;</em></li>
<li>For a plumber &#8211; <em>&#8220;How to know if your plumber is more interested in your pipes or your wallet.&#8221;</em></li>
<li>For a an auto-body shop &#8211; <em>&#8220;The quickest way to tell if your body-shop repair estimate is accurate or if the body-man has been spending too much time in the paint booth.&#8221;</em></li>
<li>For a photographer &#8211; <em>&#8220;The 5 things a photographer must do to get the best picture of you &#8211; that have nothing to do with the camera!&#8221;</em></li>
</ol>
<p>You get the idea. The goal is to provide a topic that is relevant and important to your visitors. Here are a few guidelines:</p>
<ol>
<li><span style="text-decoration: underline;">Make it generic</span> &#8211; Don&#8217;t say &#8220;top 10 reasons to do business with us&#8221;. No one is going to give you their email in exchange for a sales pitch. They&#8217;re looking for a &#8220;free lunch&#8221; by learning from your expertise.</li>
<li><span style="text-decoration: underline;">Set it up to paint a picture that only your business fits</span> &#8211; This is, of course, the power of this sort of marketing. It allows you to define exactly what the perfect lawyer, cpa, plumber, beauty salon, etc. should look like. Make sure only your business can fit that definition. This is part of the way you can build value to demonstrate that your prices are higher but your overall value is unmatched.</li>
<li><span style="text-decoration: underline;">Provide some real expertise</span> &#8211; We&#8217;re all smart enough to see right through a thinly veiled sales pitch. This is the kind of thing that will help them decide to NOT do business with you.</li>
<li><span style="text-decoration: underline;">Make it simple</span> &#8211; Lay it out with a list or graphs and make it conversational. Write this copy, as you should with all marketing copy, as if you&#8217;re sitting across the table from this person explaining to them exactly what you&#8217;re talking about.</li>
<li><span style="text-decoration: underline;">Promise not to sell their email</span> &#8211; Unless of course you do plan to sell their email. But I don&#8217;t really recommend that.</li>
</ol>
<p>Now some of the great internet marketers have learned that providing a PDF in exchange for an email only gets you so far. Instead they setup automatic email responder campaigns with the help of sites like <a href="http://www.aweber.com/" target="_self">aweber.com</a>. This basically tells your visitor they&#8217;re going to receive some level of your expertise once per week for the next 4 weeks or something along those lines. <strong>This keeps you in touch with them constantly and helps you get closer to <a href="http://gmarketing.com" target="_blank">Jay Conrad Levinson&#8217;s</a> claim that it takes 9 communications to make a prospect a customer.</strong> This is the reason gathering an email address is so important to begin with. If Levinson&#8217;s research is accurate, your chances of gaining a customer because of one visit to your website are pretty slim. However, if they visit your website and then you keep in constant contact with them via email, now the tide has turned in your favor. <img src='http://EthicalBusinessBuilder.com/wp-includes/images/smilies/icon_wink.gif' alt=';-)' class='wp-smiley' /> </p>
<p>To your success in gaining a commitment with your website, Bryan</p>
]]></content:encoded>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Internet Marketing for Small Business &#8211; Your Website</title>
		<link>http://EthicalBusinessBuilder.com/2010/01/09/internet-marketing-for-small-business-your-website/</link>
		<comments>http://EthicalBusinessBuilder.com/2010/01/09/internet-marketing-for-small-business-your-website/#comments</comments>
		<pubDate>Sun, 10 Jan 2010 02:52:36 +0000</pubDate>
		<dc:creator>ethicalbusinessbuilder</dc:creator>
				<category><![CDATA[Ethical Marketing]]></category>
		<category><![CDATA[conversion rate]]></category>
		<category><![CDATA[internet leads]]></category>
		<category><![CDATA[internet marketing]]></category>
		<category><![CDATA[small business websites]]></category>
		<category><![CDATA[website design]]></category>
		<category><![CDATA[website goal]]></category>
		<category><![CDATA[website layout]]></category>
		<category><![CDATA[website performance]]></category>

		<guid isPermaLink="false">http://EthicalBusinessBuilder.com/?p=410</guid>
		<description><![CDATA[In my last 3 blogs we reviewed the 3 pieces of your small business’ online presence: Traffic Website Commitment We then discussed the 3 primary ways to get Traffic (Search Engines, Online Ads/Google Adwords, Viral Marketing) and of course reviewed videos explaining some basics of Viral Marketing and Search Engine Optimization for Small Business. We [...]]]></description>
			<content:encoded><![CDATA[<p>In my last 3 blogs we reviewed the 3 pieces of your small business’ online presence:</p>
<div id="attachment_414" class="wp-caption alignright" style="width: 501px"><a href="http://EthicalBusinessBuilder.com/wp-content/uploads/2010/01/cancun-049.jpg"><img class="size-large wp-image-414  " title="Chichen Itza" src="http://EthicalBusinessBuilder.com/wp-content/uploads/2010/01/cancun-049-1024x682.jpg" alt="" width="491" height="327" /></a><p class="wp-caption-text">Chichen Itza - the 7th Wonder of the World. Is your website this complex?</p></div>
<ol>
<li>Traffic</li>
<li><strong>Website</strong></li>
<li>Commitment</li>
</ol>
<p>We then discussed the 3 primary ways to get Traffic (Search Engines, Online Ads/Google Adwords, Viral Marketing) and of course reviewed videos explaining some basics of <a href="http://ethicalbusinessbuilder.com/2009/12/07/internet-marketing-for-small-business-viral-marketing/" target="_self">Viral Marketing</a> and <a href="../2009/12/11/internet-marketing-for-small-business-search-engine-optimization/" target="_self">Search Engine Optimization</a> for Small Business. We then looked at some of the best tips for <a href="http://ethicalbusinessbuilder.com/2010/01/05/internet-marketing-for-small-business-google-adwords/" target="_self">optimizing your Google Adwords campaigns</a> in my last blog.</p>
<p>This time around we’re going to take a closer look at your website. From my last 3 blogs you have a lot of great ways to get people to your website, but how do you know your website is any good? Let&#8217;s break this into 3 sections:</p>
<ol>
<li>Goal of your website</li>
<li>Content</li>
<li>Layout</li>
<li>Tracking or Analytics</li>
</ol>
<p><strong>1. <span style="text-decoration: underline;">Goal of your website</span></strong> &#8211; This is so important to understand as I think most people never even consider this point. For most people they have a website because they&#8217;re supposed to have a website and then they leave it at that. That&#8217;s not at all true, <strong>the goal of your website is to sell something!</strong> Since my small business is service-based, my goal is to sell an appointment or, in other words, get the potential customer to contact us. For other businesses the goal is to sell a product directly online. If you fail to sell your product or appointment via your website <strong>your secondary goal should be to collect your visitor&#8217;s contact information for future marketing</strong>. We&#8217;ll discuss basic ways to do that in the future.</p>
<p><strong>2. </strong><span style="text-decoration: underline;"><strong>Content</strong></span> &#8211; Since your goal is to sell your visitor something, the content of your website should be geared to do just that. How do you accomplish that? <strong>You answer all the questions that might prevent them from buying from you.</strong> That&#8217;s what your content MUST do if your customer is ever going to make a commitment to purchase from you. Here are the basic points you must cover in any marketing to earn a customer. I call these the <strong>4.5 points of successful marketing</strong>:</p>
<ol>
<li><strong>What problem can you fix for me?</strong> &#8211; Address and detail their problems to demonstrate that you understand their needs.</li>
<li><strong>Is your solution the best?</strong> &#8211; Explain how your solution to their problem is the best solution available.</li>
<li><strong>Why should I work with your company?</strong> &#8211; Compare your business to your competition to show how ONLY your business can meet their needs and requirements.</li>
<li><strong>Why do I need your solution now?</strong> &#8211; Dollarize their potential losses by not having your solution so they understand that every month, week, day or hour that they wait they&#8217;re losing money by not working with you.</li>
</ol>
<p><strong> </strong>4.5. <strong>What am I risking?</strong> &#8211; Make the process of either buying from you or contacting you for an appointment as risk-free as possible.</p>
<p>The biggest negative business owners point out to me when addressing these points is that now their competitors can see their whole &#8220;sales pitch&#8221;. My response to that is firstly, so what? They&#8217;re going to find it one way or another anyway. Secondly, <strong>if your business and product can&#8217;t highlight enough advantages, benefits, and differences to make it IMPOSSIBLE for your competitors to steal your sales pitch then you need to go back to the writing board and come up with better copy and/or a better business plan.</strong></p>
<p><strong>3.</strong> <span style="text-decoration: underline;"><strong>Layout</strong></span> &#8211; In the online world you basically have 4 types of websites:</p>
<ol>
<li><span style="text-decoration: underline;">Complex</span> &#8211; You have graphics and videos and Flash programming and javascript drop-down menus and somewhere amongst the entertainment you may even address some of your customer&#8217;s questions or needs.</li>
<li><span style="text-decoration: underline;">Simple</span> &#8211; You list your business name, phone, address, a short About Us, a Contact Us page and maybe even a bit about your products. These websites do nothing more than provide contact information for people who already want to do business with you. Most visitors, however, don&#8217;t care about you until you educate them on how you can make their life better.</li>
<li><span style="text-decoration: underline;">Corporate</span> &#8211; Every major corporation has one of these. It has all the standard pages for Contact Us, About Us, Investor Relations, Products, Store-Finder, etc. etc. It answers a few questions of the 4.5 points of successful marketing but often is bordering on the too Complex described above.</li>
<li><span style="text-decoration: underline;">Long-winded</span> &#8211; These are those scrolling 1-page sales pitch websites that you just hate to visit. However the truth is, these are some of the best tracked, best-designed, best-selling websites in existence. <strong>Millions upon millions of dollars in internet fortunes have been made through this style of website.</strong> These designers have often done their homework and tweaked their website sales-machines to perfection so don&#8217;t write these off as unprofessional or ineffective. An unprofessional website is the one that doesn&#8217;t generate sales &#8211; nothing more.</li>
</ol>
<p>So how do you optimize your site to generate the best results without getting too far off-track like the site descriptions above?</p>
<ol>
<li><span style="text-decoration: underline;">Make it EASY to contact your business</span>. Their should be a phone number, email, and/or <strong>contact us button on every page</strong> so that it&#8217;s visible at all times.</li>
<li><span style="text-decoration: underline;">Never make anything more than 2 menu&#8217;s deep</span> (unless you sell millions of products). This is a lesson learned from the &#8220;Long-winded&#8221; guys. <strong>You can&#8217;t direct people through the 4.5 points of successful marketing if you have too many clicks.</strong> People want their questions answered right away and in a logical progression and if they have to click through more than 2 menus deep to get those answers they&#8217;re much more likely to leave.</li>
<li><span style="text-decoration: underline;">Relate your pages to each other</span>. I was just searching for car parts for my 2008 Mitsubishi Evolution X on a performance parts website. The website had some awesome Youtube videos of their 10 second Evo with a listing of the parts they sell and used on that car. Only problem was the list of parts didn&#8217;t link back to the spot where I can buy the parts. After 30 minutes of navigating around I&#8217;m still not sure if the parts I found were the same ones they used on their own car! The point is, don&#8217;t make every visitor have to go back to your home page to find what they need. If you reference another product, idea, or reason to do business with you on an individual page, you better have a link to your reference.</li>
<li><span style="text-decoration: underline;">Provide testimonials.</span> You can say all you want about your solutions and business however that never has the same effect as third-party testimonials from your customers. If your website doesn&#8217;t have those, start gathering them right away. Gathering testimonials is literally as simple as asking for them so be sure to ask!</li>
</ol>
<p><strong>4. <span style="text-decoration: underline;">Tracking or Analytics</span></strong> &#8211; Since we&#8217;re all looking for the simple answer let me give you just that. <strong>The most important performance number for your website is your conversion rate.</strong> This is the number of customers created divided by the number of visitors. In other words, if you have 100 visitors and 4 bought from you (or scheduled an appointment for a service-based business), your conversion rate would be 4% (4/100). Some benchmarks for conversion rates by industry are available courtesy of <a href="http://index.fireclick.com/" target="_self">Fireclick.com</a> where the current internet average conversion rate is 4.3%. It&#8217;s also helpful to talk to other people in your specific industry if possible. As a point of comparison, my conversion rate in the 4th quarter of 2009 was 6.5% for my local service-based business. In a future blog we&#8217;ll discuss ways to really analyze your <a href="http://google.com/analytics" target="_blank">Google Analytics</a> stats to determine how to improve your conversion rate.</p>
<p>To your website&#8217;s selling success, Bryan</p>
<p>P.S. Here&#8217;s <a href="http://www.melissadata.com/enews/marketingadvisor/articles/0912b/2.htm" target="_blank">another short article about website design</a> by Barry A. Densa at <a href="http://www.melissadata.com/" target="_blank">Melissadata.com</a> that I think is very appropriate.</p>
]]></content:encoded>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>How to fix your business FAST &#8211; Part 4 &#8211; Improve Marketing and Sales</title>
		<link>http://EthicalBusinessBuilder.com/2009/11/16/how-to-fix-your-business-fast-part-4-improve-marketing-and-sales/</link>
		<comments>http://EthicalBusinessBuilder.com/2009/11/16/how-to-fix-your-business-fast-part-4-improve-marketing-and-sales/#comments</comments>
		<pubDate>Tue, 17 Nov 2009 02:18:28 +0000</pubDate>
		<dc:creator>ethicalbusinessbuilder</dc:creator>
				<category><![CDATA[Business Books]]></category>
		<category><![CDATA[Ethical Marketing]]></category>
		<category><![CDATA[Team Building]]></category>
		<category><![CDATA[conversion rate]]></category>
		<category><![CDATA[decreasing marketing while increasing sales]]></category>
		<category><![CDATA[guarantee]]></category>
		<category><![CDATA[marketing basics]]></category>
		<category><![CDATA[sales process]]></category>
		<category><![CDATA[unique selling proposition]]></category>

		<guid isPermaLink="false">http://ethicalbusinessbuilder.com/?p=332</guid>
		<description><![CDATA[For most businesses I&#8217;ve encountered, the greatest improvement in marketing would simply be to start tracking your ROI. In other words, you need to know your cost/lead and cost/sale for each marketing project. I address this concept in detail in my blog on Scientific Advertising.  Keep in mind that simply asking your customers &#8220;how did [...]]]></description>
			<content:encoded><![CDATA[<p>For most businesses I&#8217;ve encountered, the greatest improvement in marketing would simply be to start tracking your ROI. In other words, you need to know your cost/lead and cost/sale for each marketing project. I address this concept in detail in my blog on <a href="http://ethicalbusinessbuilder.com/2009/10/07/scientific-advertising/" target="_self">Scientific Advertising</a>.  Keep in mind that simply asking your customers <a href="http://ethicalbusinessbuilder.com/2008/02/14/asking-your-customer-where-did-you-hear-about-us-is-a-waste-of-time-and-what-to-do-about-it/" target="_self">&#8220;how did you hear about us?&#8221;</a> can be somewhat futile (though it&#8217;s better than nothing). Michael Corbett suggests simply watching your sales to see if they go up with your current marketing or stay flat. To me that seems like a rather unscientific approach since that doesn&#8217;t tell you which marketing produced the results and there are  more factors than marketing alone that can affect sales.</p>
<p>There are a handful of marketing books in my <a href="http://ethicalbusinessbuilder.com/recommended-reading/" target="_self">Recommended Reading</a> section, in addition to <a href="http://www.amazon.com/gp/product/0844231010?ie=UTF8&amp;tag=ethibusibuil-20&amp;linkCode=as2&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0844231010">My Life in Advertising and Scientific Advertising</a><img style="border:none!important;margin:0!important;" src="http://www.assoc-amazon.com/e/ir?t=ethibusibuil-20&amp;l=as2&amp;o=1&amp;a=0844231010" border="0" alt="" width="1" height="1" /> by Claude Hopkins, so I&#8217;m not going to directly address the difference between good and bad marketing. After all, no one knows exactly what will generate the best response until it&#8217;s tested and measured.</p>
<p>That being said, here are a few marketing pointers in addition to knowing your numbers:</p>
<ol>
<li>Have a Unique Selling Proposition that sets you apart from all of your competitors. In other words, <strong>create a niche only you can fill</strong>.</li>
<li>Know and understand your target audience. You can have the best offer, and the best advertisement in the world, but if it&#8217;s directed to the wrong audience you&#8217;ll get zero results. <strong>Spend the most marketing time on getting your message to the right people!</strong></li>
<li>Keep a detailed customer database so you can cross-market constantly. <strong>If someone has bought from you once before, they are MUCH more likely to buy from you again.</strong> If you don&#8217;t have a database (or your not using the one you have) change that immediately!</li>
<li>Offer a guarantee. If your products are either more expensive than most, or can&#8217;t be touched by the consumer prior to purchasing (such as with internet sales) you MUST have an iron-clad guarantee to assuage their fears. <strong>This must demonstrate that you&#8217;re the best and the customer has nothing to risk.</strong></li>
</ol>
<p>Since we&#8217;re looking for quick fixes, I&#8217;m going to stop the list there. If you do those things, you&#8217;ll notice results almost instantly.</p>
<p>On the sales side, you need to again, learn your numbers. Am I getting that point across fully yet? <img src='http://EthicalBusinessBuilder.com/wp-includes/images/smilies/icon_smile.gif' alt=':-)' class='wp-smiley' />  Whether you realize it or not, in your sales cycle, there are many steps. Let&#8217;s take a retail clothing store for example. What are the steps a shopper takes?</p>
<ol>
<li><span style="text-decoration:underline;">Window browsing</span> &#8211; How do we get them to actually walk into the store? A lot of retailers put up blinds behind the window manequins so people have to actually walk in to see what else is available.</li>
<li><span style="text-decoration:underline;">Entering the store</span> &#8211; How do we get them to spend time looking around? Depending on your clientelle, music can make a huge difference as to whether they hang around a while or not.</li>
<li><span style="text-decoration:underline;">Perusing certain racks or aisles</span> &#8211; How do we get them to see the most we have to offer? Most retail stores put the clearance and discounted rack at the back so you have to walk all the way through to find the great deals.</li>
<li><span style="text-decoration:underline;">Trying clothes on</span> &#8211; How do we get them to go to the dressing room? Keep in mind, people can only try on or buy as much as they can physically carry. Make it easy for customers to carry more with helpful sales associates and people will buy more. Paco Underhill addresses this in magnificent detail in <a href="http://www.amazon.com/gp/product/1416595244?ie=UTF8&amp;tag=ethibusibuil-20&amp;linkCode=as2&amp;camp=1789&amp;creative=9325&amp;creativeASIN=1416595244">Why We Buy: The Science of Shopping</a><img style="border:none!important;margin:0!important;" src="http://www.assoc-amazon.com/e/ir?t=ethibusibuil-20&amp;l=as2&amp;o=1&amp;a=1416595244" border="0" alt="" width="1" height="1" />.</li>
<li><span style="text-decoration:underline;">Buying</span> &#8211; How do we get them to come back? Are we getting their name and email address for our database?</li>
</ol>
<p>So why do we break that up into so many steps? Because if you don&#8217;t, you have no idea which steps you need to improve. I&#8217;ve heard of a retail store that learned that around 80% of people who try something on will buy it. So they didn&#8217;t work on directing people to the cash register, they worked on getting potential customers to the changing rooms.</p>
<p>Every business has a series of steps in their sales cycle. You need to learn and track each of those steps for your business and then <a href="http://ethicalbusinessbuilder.com/2008/03/23/how-to-increase-your-conversion-rate-by-10-in-the-next-30-days/" target="_self">systematically improve the conversion rate</a> for each one.</p>
<p>That was  a retail environment, so let&#8217;s consider a service based business. What possible steps do we have for them?</p>
<ol>
<li><span style="text-decoration:underline;">Inquiry</span> &#8211; via phone, web, or walk-in</li>
<li><span style="text-decoration:underline;">Service Pitch/Presentation</span> &#8211; Are you skipping this step? If people call your plumbing business and ask what it costs to unclog a toilet, do you just tell them or do you first tell them why you are their best option with your guaranteed time, flat-rate billing, and professional staff?</li>
<li><span style="text-decoration:underline;">Price Quote/Estimate </span>- Are you building value along with this quote (particularly if it&#8217;s in writing) to back up your pricing?</li>
<li><span style="text-decoration:underline;">Commitment to Purchase</span> &#8211; If the commitment isn&#8217;t made immediately are you leaving them PLENTY of information to convince them you&#8217;re their best option? My business has a 24 page &#8220;leave-behind&#8221; packet for just such instances.</li>
<li><span style="text-decoration:underline;">Delivery of Service</span> &#8211; Are you delivering exactly what you said? Particularly if you only get paid once your service is complete.</li>
<li><span style="text-decoration:underline;">Payment</span> &#8211; Do you have simple payment options and are you asking for payment immediately upon completion so as not to tie up your office staff trying to collect money?</li>
<li><span style="text-decoration:underline;">Follow-up</span> &#8211; Did you get their name, phone, address, and email for your database? Did you call or visit them again after completion to make sure they were completely satisfied? Did you ask for testimonials or referrals?</li>
</ol>
<p>As you can see, there are a lot of steps in this process as well and <strong>at any step along the way you can lose potential clients.</strong> That&#8217;s obviously why tracking the number of customers who make it to each step is so important!</p>
<p>A couple of things you can do to help improve each step in the process:</p>
<ol>
<li>Have excellent training for each person involved in sales including <a href="http://ethicalbusinessbuilder.com/2008/07/07/the-5-simple-steps-to-writing-the-perfect-phone-script/" target="_self">detailed scripts</a>, role-playing, and <a href="http://ethicalbusinessbuilder.com/2008/07/26/the-basics-of-nlp-for-your-business/" target="_self">NLP training</a>.</li>
<li>Incentivize and develop some competition. People like to know someone else notices that they are the best at what they&#8217;re doing.</li>
<li>Have an outside company <a href="http://ethicalbusinessbuilder.com/2009/08/11/shopping-yourself-the-best-way-to-improve-your-business-conversion-rate/" target="_self">shop your business</a> and report back what they find.</li>
<li>Record phone calls, conversations, and customer interactions (after checking with your lawyer of course) to look for opportunities for improvement.</li>
<li>Provide on-hold and/or in-store marketing over the speaker system. I know the &#8220;blue-light&#8221; specials weren&#8217;t enough to save Kmart, but I&#8217;m not claiming that&#8217;s all you need to do for your business either. <img src='http://EthicalBusinessBuilder.com/wp-includes/images/smilies/icon_wink.gif' alt=';-)' class='wp-smiley' /> </li>
<li>Create your story portraying your commitment to customer service, quality, community involvement, and excellence. Make it available in your store, restaurant, business, and on your website. People love buying from places where they feel a part of something.</li>
<li>Include testimonials everywhere! Put them in your store, on your website, in your marketing, on your thank you cards&#8230; heck, you can even put them on your receipts.</li>
</ol>
<p>In my experience with over 100 small businesses, I don&#8217;t know of anyone, myself included, who is doing all of these things well. In my defense, I do know what I have to do and one-by-one I&#8217;m crossing them off of my list.</p>
<p>We&#8217;re on Part 4 right now so you should have quite a long To-Do list written down, right? If not, go get a piece of paper and a pen, review my last 4 blogs and start writing. After I post my last blog on this topice (Part 5) you&#8217;ll now have a complete list that you can prioritize and start addressing.</p>
<p>To your sales and marketing success, Bryan</p>
]]></content:encoded>
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		<title>Shopping yourself &#8211; The best way to improve your business&#039; conversion rate?</title>
		<link>http://EthicalBusinessBuilder.com/2009/08/11/shopping-yourself-the-best-way-to-improve-your-business-conversion-rate/</link>
		<comments>http://EthicalBusinessBuilder.com/2009/08/11/shopping-yourself-the-best-way-to-improve-your-business-conversion-rate/#comments</comments>
		<pubDate>Wed, 12 Aug 2009 03:04:41 +0000</pubDate>
		<dc:creator>ethicalbusinessbuilder</dc:creator>
				<category><![CDATA[Business Accounting]]></category>
		<category><![CDATA[Ethical Marketing]]></category>
		<category><![CDATA[Leadership]]></category>
		<category><![CDATA[Team Building]]></category>
		<category><![CDATA[closing ratio]]></category>
		<category><![CDATA[conversion rate]]></category>
		<category><![CDATA[decreasing marketing while increasing sales]]></category>
		<category><![CDATA[mysters shoppers]]></category>
		<category><![CDATA[phone mystery shoppers]]></category>
		<category><![CDATA[setting phone appointments]]></category>

		<guid isPermaLink="false">http://ethicalbusinessbuilder.com/?p=247</guid>
		<description><![CDATA[By shopping yourself, I simply mean determine exactly what your customers experience, record it, and review it to determine areas for improvement. Paco Underhill actually wrote a great book titled, Why We Buy: The Science of Shopping, that talks about much of what he has learned through his Mystery Shopper business. His book and experiences [...]]]></description>
			<content:encoded><![CDATA[<p>By shopping yourself, I simply mean determine exactly what your customers experience, record it, and review it to determine areas for improvement.</p>
<p>Paco Underhill actually wrote a great book titled, <a href="http://www.amazon.com/gp/product/1416595244?ie=UTF8&amp;tag=ethibusibuil-20&amp;linkCode=as2&amp;camp=1789&amp;creative=9325&amp;creativeASIN=1416595244">Why We Buy: The Science of Shopping</a><img style="border:none!important;margin:0!important;" src="http://www.assoc-amazon.com/e/ir?t=ethibusibuil-20&amp;l=as2&amp;o=1&amp;a=1416595244" border="0" alt="" width="1" height="1" />, that talks about much of what he has learned through his Mystery Shopper business. His book and experiences are all geared toward improving retail closing ratios or conversion rates. In other words, he wants to figure out how to get the highest percentage of people to buy the most often. He doesn&#8217;t help with marketing or lead-generating in the sense that he helps get people into the stores, his business simply specializes in converting those people who have made a trek to your store into customers (or repeat customers).</p>
<p><span style="text-decoration:underline;">W</span><span style="text-decoration:underline;">hy do you NEED to invest so much time and money into your conversion rate?</span> Because <strong>leads are expensive!</strong> In my business, leads cost around $78. In other words, to get someone to call me and be interested enough in our products to provide their name and contact information costs me $78 per call ($159 per call for Yellow Page contacts).  To convert those to sales costs me around $268. So right now I&#8217;m converting 1 out of every 3.5 prospects who call me into customers. As you&#8217;ll learn, <a href="http://ethicalbusinessbuilder.com/2008/02/14/asking-your-customer-where-did-you-hear-about-us-is-a-waste-of-time-and-what-to-do-about-it/" target="_self">these numbers are never perfect</a> and this doesn&#8217;t include people who call me for service of existing equipment or to purchase ancillary products. This is simply the people who don&#8217;t have anything I offer right now and want it.</p>
<p>Now what do I stand to gain from increasing our conversion rate? Potentially thousands of dollars in revenue and profit. Since some of my new customers are rentals (or equipment leases) and some are sales it&#8217;s hard to get an exact &#8220;average dollar sale&#8221; of my new customers however here&#8217;s how it breaks down for new customers in 2009:</p>
<ol>
<li>Average new sale &#8211; $3798</li>
<li>Average new monthly rental/lease &#8211; $52.78</li>
</ol>
<p>Roughly 24% of new customers are rental/leases but let&#8217;s ignore that for a minute to keep the math simple. If I can increase my conversion rate for sales by 10% so that 1 customer buys for every 3.15 people who call (instead of every 3.5) that would have added about $32,283 to my business this year. In addition, though my cost per lead would remain the same at $78, my cost per sale would drop to $249 ($241 if I assume a 10% increase for both sales and rental/leases). To say that an even simpler way, increaseing my conversion rate by 10% results in a direct increase in gross profit of 10% on all of my sales. Not bad. And don&#8217;t forget we just increased our top line revenue at the same time so my actual Net Profits just increase by much more than 10%.</p>
<p>In the past I&#8217;ve reviewed <a href="http://ethicalbusinessbuilder.com/2008/03/23/how-to-increase-your-conversion-rate-by-10-in-the-next-30-days/" target="_self">how to increase your conversion rate</a>. Since I&#8217;m always looking for new ways to do that, I&#8217;ve bumped into Paco Underhill&#8217;s book and into a company called teleXpertise. teleXpertise does the same thing that Mr. Underhill&#8217;s company does except they do it over the phone. They&#8217;re phone mystery shoppers and I must say they&#8217;re very good. Their recorded calls with your sales people will tell you a whole lot about the efficiency of your sales process. My business model requires onsite inspections before quoting prices so our process can be quite lengthy from the first call to a closed deal. Keep in mind that every interaction with the customer is a potential step where they can be lost forever however each step does not result in a sale&#8230; So each and every step has to be improved. To clarify what I mean by &#8220;steps&#8221; you&#8217;ll want to check out <a href="http://ethicalbusinessbuilder.com/2008/03/23/how-to-increase-your-conversion-rate-by-10-in-the-next-30-days/" target="_self">my blog on increasing your conversion rate</a>.</p>
<p>Let&#8217;s talk a bit more about how they can help you increase your conversion rate by evaluating what I&#8217;ve learned. Keep in mind that I have my sales phone calls scripted and have gone over individual training with all of my team members on how to handle sales inquiries and the following still came up:</p>
<ol>
<li>Answering questions that we didn&#8217;t know the answer to. (though we thought we did)</li>
<li>Not asking for the caller&#8217;s name or contact information (including email).</li>
<li>Answering questions that we shouldn&#8217;t (because they&#8217;re based on what information we gather from an onsite inspection)</li>
<li>Quoting exact prices over the phone</li>
<li>Not using proper <a href="http://ethicalbusinessbuilder.com/2008/07/26/the-basics-of-nlp-for-your-business/" target="_self">NLP techniques</a></li>
<li>Didn&#8217;t always ask about what prompted them to call us</li>
</ol>
<p>And what we did right:</p>
<ol>
<li>Cross-sold products (i.e. they called asking about X and we told them about Y)</li>
<li>Tried to set the appointment with the customer (several times)</li>
<li>Returned the customer&#8217;s inquiry within minutes (our lead catchers don&#8217;t set appointments our sales people call the customer back to set the appointment)</li>
<li>Upsold products (i.e. they called about a service we didn&#8217;t offer and we suggested a better alternative)</li>
<li>Differentiated ourselves from our competitors</li>
</ol>
<p>So you can look at this information in 2 ways.</p>
<ol>
<li>After all that training we still did more things incorrectly than correctly so we suck (me in particular as the Team Leader).</li>
<li>After all that training we still did more things incorrectly than correctly so <strong>just look at how much more money we could make if we always did things correctly!</strong></li>
</ol>
<p>Obviously I focus on the latter. It&#8217;s one thing to do the right thing by training and scripting, but it&#8217;s just as important to constantly train and improve. What was most surprising to me was I didn&#8217;t tell a single person on our team that we were using mystery shoppers until after they were done.  When I did tell them their conversations were being recorded they weren&#8217;t at all mad about it, they were actually excited to hear themselves. This may be partially because I set the bar for myself to constantly improve so I&#8217;m not asking them to do anything they haven&#8217;t seen me do over and over again and I stressed that before I told them what was going on. I also let them know how much we pay for leads so they can get a grasp of just how valuable each and every call is. The best part, however, was that they were very receptive to improvements and looked forward to doing better next time. That&#8217;s right, I assured them their would be a next time&#8230; <img src='http://EthicalBusinessBuilder.com/wp-includes/images/smilies/icon_wink.gif' alt=';-)' class='wp-smiley' /> </p>
<p>To your increased conversion rate success, Bryan</p>
<p>P.S. As an additional note, if you&#8217;re buying a business you should definitely Mystery Shop the business ahead of time. If they did more right than wrong you may want to look for a different business. If they have a LOT of room to improve that might be the perfect business for you. Keep in mind that you prefer to <a href="http://ethicalbusinessbuilder.com/2009/01/17/the-old-fashioned-way-to-make-1000000-per-year/" target="_self">buy businesses that just need to tweak the front end</a>.</p>
]]></content:encoded>
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		<title>How to increase your conversion rate by 10% in the next 30 days&#8230;</title>
		<link>http://EthicalBusinessBuilder.com/2008/03/23/how-to-increase-your-conversion-rate-by-10-in-the-next-30-days/</link>
		<comments>http://EthicalBusinessBuilder.com/2008/03/23/how-to-increase-your-conversion-rate-by-10-in-the-next-30-days/#comments</comments>
		<pubDate>Mon, 24 Mar 2008 03:11:27 +0000</pubDate>
		<dc:creator>ethicalbusinessbuilder</dc:creator>
				<category><![CDATA[General Business]]></category>
		<category><![CDATA[closing ratio]]></category>
		<category><![CDATA[conversion rate]]></category>
		<category><![CDATA[lead tracking]]></category>
		<category><![CDATA[prospect database]]></category>
		<category><![CDATA[sales process]]></category>

		<guid isPermaLink="false">http://ethicalbusinessbuilder.wordpress.com/?p=27</guid>
		<description><![CDATA[No matter what business you&#8217;re in, if people have to buy something from you, there is a sales process. If that process involves them walking past your store or entering, that&#8217;s a step in the process. If it involves them browsing through stock or trying things on, those are steps. The following material was used [...]]]></description>
			<content:encoded><![CDATA[<p>No matter what business you&#8217;re in, if people have to buy something from you, there is a sales process. If that process involves them walking past your store or entering, that&#8217;s a step in the process. If it involves them browsing through stock or trying things on, those are steps. The following material was used as a bit of an educational marketing piece for a company I worked for but it applies to every business everywhere. <img src='http://EthicalBusinessBuilder.com/wp-includes/images/smilies/icon_smile.gif' alt=':-)' class='wp-smiley' /> </p>
<p style="margin-bottom:0;">&nbsp;</p>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><span>No matter what you&#8217;re selling there is a step-by-step process that takes place from initial contact to completed install. </span></span></font></font><font color="#000000"><font size="3"><span><b><span style="background:#ffff00 none repeat scroll 0 50%;">Each step in the process presents an area where you can be losing prospects</span></b></span></font></font><font color="#000000"><font size="3"><span><b> </b></span></font></font><font color="#000000"><font size="3"><span><span>who are ready and willing to pay you, but unfortunately you haven&#8217;t done the best job of helping them learn that!</span></span></font></font></p>
<p style="margin-bottom:0;">&nbsp;</p>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><span>Here&#8217;s the idea. There are </span></span></font></font><font color="#000000"><font size="3"><span><b><span style="background:#ffff00 none repeat scroll 0 50%;">3 main areas to improve in your sales process</span></b></span></font></font><font color="#000000"><font size="3"><span><span>:</span></span></font></font></p>
<ol>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><b>The 	script</b></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><b>The 	person </b></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><b>The 	system</b></span></font></font><font color="#000000"><font size="3"><span><span> 	(i.e. are we following up? are our materials effective?)</span></span></font></font></p>
</li>
</ol>
<p style="margin-bottom:0;">&nbsp;</p>
<p style="margin-bottom:0;"><font color="#000000"><font size="3">And each of those areas can potentially be improved for each step in your sales process&#8230; So if you&#8217;re sales process has 6 steps, then there are possibly 18 different areas you can improve. If that doesn&#8217;t make sense, don&#8217;t stop reading yet!</font></font></p>
<p style="margin-bottom:0;">&nbsp;</p>
<p style="margin-bottom:0;"><font color="#000000"><font size="3">Unfortunately, </font></font></p>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><span>	</span></span></font></font><font color="#000000"><font size="3"><span><span>t</span></span></font></font><font color="#000000"><font size="3"><span><b>he ONLY way to determine your weak areas AND make an educated decision on how to improve them is through detailed tracking for at least 2-4 weeks.</b></span></font></font><font color="#000000"><font size="3"><span><span> </span></span></font></font></p>
<p style="margin-bottom:0;">&nbsp;</p>
<p style="margin-bottom:0;"><font color="#000000"><font size="3">Ultimately you should be tracking every lead with this level of detail FOREVER to make sure no weak-links pop-up down the road.</font></font></p>
<p style="margin-bottom:0;">&nbsp;</p>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><span>So here&#8217;s </span></span></font></font><font color="#000000"><font size="3"><span><span><span style="background:transparent none repeat scroll 0 50%;">my </span></span></span></font></font><font color="#000000"><font size="3"><span><b><span style="background:#ffff00 none repeat scroll 0 50%;">8 step process for plugging those holes</span></b></span></font></font><font color="#000000"><font size="3"><span><span> and increasing your closing ratios to the best they&#8217;ve ever been </span></span></font></font><font color="#000000"><font size="3"><span><b><span style="background:#ffff00 none repeat scroll 0 50%;">in the next 30 days.</span></b></span></font></font></p>
<ol>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><u><span>Write 	out the steps in your sales process.</span></u></span></font></font><font color="#000000"><font size="3"><span><span> 	From the initial phone call, email, or trade show contact to the 	post-install request for referrals write down every single step. 	Your steps may look something like this:</span></span></font></font></p>
<ol>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3">Initial 		Contact: Telemarketing, Call-in, incoming email, fair/trade show 		sign-up</font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3">Call-back: 		Phone call to set appointment, Email response to inquiry</font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3">Confirm: 		Call to confirm.</font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3">Appointment: 		In-home presentation</font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3">Follow-up: 		</font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3">Schedule 		Install </font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3">Install:</font></font></p>
</li>
</ol>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><u><span>Write 	down the possible results for each step.</span></u></span></font></font><font color="#000000"><font size="3"><span><span> 	</span></span></font></font><font color="#000000"><font size="3"><span><span><span style="background:#ffff00 none repeat scroll 0 50%;">“Cancel” 	is NOT a specific enough result.</span></span></span></font></font><font color="#000000"><font size="3"><span><span> 	It&#8217;s better than nothing, but the goal is to determine “Why did they Cancel?” and address that issue. For instance:</span></span></font></font></p>
<ol>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><span>Initial 		Contact: </span></span></font></font><font color="#000000"><font size="3"><span><i><span>We&#8217;ll 		call you back, Too expensive, Just gathering information,</span></i></span></font></font><font color="#000000"><font size="3"><span><span> 		Appointment Set</span></span></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><span>Call-back: 		Call me back later, </span></span></font></font><font color="#000000"><font size="3"><span><i><span>I&#8217;ll 		call you once I check with my spouse/mom/dog, Too expensive,</span></i></span></font></font><font color="#000000"><font size="3"><span><span> 		Appointment Set</span></span></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><span>Confirm: 		</span></span></font></font><font color="#000000"><font size="3"><span><i><span>X 		was here yesterday and we&#8217;re going to go with them, Too expensive, 		An emergency came up, </span></i></span></font></font><font color="#000000"><font size="3"><span><span>We&#8217;ll 		be home and waiting!</span></span></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><span>Appointment: 		</span></span></font></font><font color="#000000"><font size="3"><span><i><span>Too 		expensive, Have to ask my spouse/mom/dog, Think we&#8217;re just going to 		go with X instead, I don&#8217;t think we need that right now,</span></i></span></font></font><font color="#000000"><font size="3"><span><span> 		Sounds great sign me up.</span></span></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><span>Follow-up: 		</span></span></font></font><font color="#000000"><font size="3"><span><i><span>Credit 		was turned down,</span></i></span></font></font><font color="#000000"><font size="3"><span><span> 		Sign us up!, </span></span></font></font><font color="#000000"><font size="3"><span><i><span>Check 		Bounced, Credit Card denied, We changed our mind.</span></i></span></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><span style="font-style:normal;"><span>Schedule 		Install: If you are losing leads at this step, </span></span></span></font></font><font color="#000000"><font size="3"><span><span style="font-style:normal;"><b><span style="background:#ffff00 none repeat scroll 0 50%;">look 		at the time from the previous step to the install date.</span></b></span></span></font></font><font color="#000000"><font size="3"><span><span style="font-style:normal;"><span> 		You may need to look at working non-standard hours to get installs 		taken care of right away.</span></span></span></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><span>Install: 		Looks and works great!, </span></span></font></font><font color="#000000"><font size="3"><span><i><span>Emergency came up and we can&#8217;t be home, We changed our mind</span></i></span></font></font></p>
</li>
</ol>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><u><span>Make 	a flowchart of the steps</span></u></span></font></font><font color="#000000"><font size="3"><span><span>. 	The flowchart is very helpful for showing everyone each step and to help you to setup your software for tracking. Notice that all of the items above in </span></span></font></font><font color="#000000"><font size="3"><span><i><span>italics</span></i></span></font></font><font color="#000000"><font size="3"><span><span style="font-style:normal;"><span> 	are reasons a step becomes a dead lead. All of the other results 	from above are what leads to the next step. Reference the Sales 	Flowchart example below:</span></span></span></font></font></p>
<ol>
<li><font color="#000000"><font size="3">They sign up and you have to get 		“Credit Approval”</font></font></li>
<li>
<p style="margin-bottom:0;font-style:normal;"> 		<font color="#000000"><font size="3">They sign up and pay with cash, 		a check, or credit card so you “Schedule the Install”</font></font></p>
</li>
<li>
<p style="margin-bottom:0;font-style:normal;"> 		<font color="#000000"><font size="3">You have to “Follow-up” with 		them</font></font></p>
</li>
<li>
<p style="margin-bottom:0;font-style:normal;"> 		<font color="#000000"><font size="3">They&#8217;re not interested and it 		becomes a “Dead Lead”</font></font></p>
</li>
</ol>
</li>
<p style="margin-left:0.5in;margin-bottom:0;font-style:normal;"> <a href="http://ethicalbusinessbuilder.files.wordpress.com/2008/03/salesflowchart.png" title="Example Sales Flowchart"></a></p>
<div style="text-align:center;"><a href="http://ethicalbusinessbuilder.files.wordpress.com/2008/03/salesflowchart.png" title="Example Sales Flowchart"><img src="http://ethicalbusinessbuilder.files.wordpress.com/2008/03/salesflowchart.png" alt="Example Sales Flowchart" /></a></div>
<p style="margin-left:0.5in;margin-bottom:0;">Notice how it can get a bit tricky. If you look at the “Appointment” step you have 4 options:</p>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><u><span>Make 	a list of all of your lead sources</span></u></span></font></font><font color="#000000"><font size="3"><span><span>. 	If you&#8217;re going to put all this effort into tracking your leads you 	might as well track the lead source to answer 3 questions:</span></span></font></font></p>
<ol>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3">Did 		that lead source pay for itself with after sale profits? </font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><span><span style="background:#ffff00 none repeat scroll 0 50%;">What 		is the acquisition cost of that lead/customer?</span></span></span></font></font><font color="#000000"><font size="3"><span><span> 		(maybe it paid for itself but other sources have a lower acquisition cost and therefore generate better profits)</span></span></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3">Are	there any steps in our sales process where we&#8217;re losing a lot of people from this source?</font></font></p>
</li>
</ol>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><u><b>Track 	every lead.</b></u></span></font></font><font color="#000000"><font size="3"><span><span> 	If you have to, funnel every lead through a specific “Sales 	Coordinator” in your office or be sure to train everyone. Just 	make sure your tracking everything &#8211; Including those referrals that 	are going directly to your sales representatives. At a minimum, </span></span></font></font><font color="#000000"><font size="3"><span><b>you 	NEED to track the following information for each lead:</b></span></font></font></p>
<ol>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><b>Name</b></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><b>Phone 		or email (you need to be able to contact them somehow)</b></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><b>Person 		in your office who spoke with the prospect (this is the only way to determine if your weak link is a person)</b></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><b>How 		they heard about you (i.e. lead source)</b></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><b>If they&#8217;re no longer interested, WHY NOT? </b></span></font></font><font color="#000000"><font size="3"><span><b><span style="background:#ffff00 none repeat scroll 0 50%;">If 		you believe you have a great product that you KNOW will help them 		you should be shocked that they&#8217;re no longer interested and ask.</span></b></span></font></font></p>
</li>
</ol>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><u><span>Make 	sure EVERY lead gets input into a spreadsheet or database</span></u></span></font></font><font color="#000000"><font size="3"><span><span> 	so you can get quick/accurate results on each lead. This is where simple to use database can make huge improvements in your business! Let&#8217;s face 	it, the first 4 steps are relatively easy. You&#8217;re a responsible and 	effective owner or sales manager and you can put the steps, results, 	and flow chart together. However the </span></span></font></font><font color="#000000"><font size="3"><span><b><span style="background:#ffff00 none repeat scroll 0 50%;">people 	in your office who are tracking lead information may not be quite as 	dedicated as you&#8230;</span></b></span></font></font><font color="#000000"><font size="3"><span><span> 	 Therefore the process MUST be simple to track and input. Moreover, 	since you&#8217;re already wearing 10 hats, its very important that managing this process is simple for you. <img src='http://EthicalBusinessBuilder.com/wp-includes/images/smilies/icon_smile.gif' alt=':-)' class='wp-smiley' />  </span></span></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><u><span>Analyze 	the data.</span></u></span></font></font><font color="#000000"><font size="3"><span><span> 	</span></span></font></font><font color="#000000"><font size="3"><span><span><span style="background:#ffff00 none repeat scroll 0 50%;">Determine 	the weak step</span></span></span></font></font><font color="#000000"><font size="3"><span><span> 	(i.e. from step #1). You determine the weak step by looking at the 	step prior to it becoming a “Dead Lead.” For instance, if after 	the initial “Call-back” they say they&#8217;re not interested, your 	weak step was the “Initial Contact” and/or the “Call back”. 	Now to </span></span></font></font><font color="#000000"><font size="3"><span><span><span style="background:#ffff00 none repeat scroll 0 50%;">determine 	the weak link</span></span></span></font></font><font color="#000000"><font size="3"><span><span> 	(script, person, system) you have to look at the REASON they became 	a dead lead. </span></span></font></font><font color="#000000"><font size="3"><span><i><b>Not 	Interested</b></i></span></font></font><font color="#000000"><font size="3"><span><b> 	will never tell you the weak link!</b></span></font></font><font color="#000000"><font size="3"><span><span> 	Too expensive, husband says our water is fine, we already bought 	from X competitor, are reasons that allow you to start addressing 	the weak link. Obviously, you also need to record which person 	handled the “Initial Contact” and which person handled the 	“Call-back” to determine if it&#8217;s a people-problem.</span></span></font></font></p>
</li>
<li>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><u><span>Plug 	the hole.</span></u></span></font></font><font color="#000000"><font size="3"><span><span> 	Improve the weak link. How do you do that? Simple. </span></span></font></font><font color="#000000"><font size="3"><span><span><span style="background:#ffff00 none repeat scroll 0 50%;">You 	make a change, test it for the next few weeks and measure the 	results.</span></span></span></font></font><font color="#000000"><font size="3"><span><span> 	 Be careful to only make ONE CHANGE AT A TIME PER STEP or else you 	won&#8217;t know which change made the difference. Your change may be 	additional training for the person, improvements to the script, or a 	better method for tracking follow-up within your sales process.</span></span></font></font></p>
</li>
<p style="margin-bottom:0;">&nbsp;</p>
<p style="margin-bottom:0;"><font color="#000000"><font size="3"><span><b>Rinse and Repeat.</b></span></font></font><font color="#000000"><font size="3"><span><b> </b></span></font></font><font color="#000000"><font size="3"><span><span>Once you stop tracking each lead your closing ratio starts to go down immediately. </span></span></font></font></p>
</ol>
<p>To your success, Bryan</p>
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