Don't Bite Off More than You Can Chew
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You're the CEO, the CFO, the marketing director, office administrator and even the cleaning service on occasion. In other words, you're a small business owner. So, with all of these responsibilities, how do you find time to grow your business? The answer lies in strategy and taking small bites for big results. During this Small Business Marketing 101 webinar, you'll learn the following: • How to launch a successful marketing campaign. (Think small.) • How to brand yourself. • The importance of measuring.
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Don't Bite Off More than You Can Chew
- 1. Don’t Bite Off More Than You Can Chew Don’t Bite off More than You Can Chew Jim Eggleston Rich 115 via flickr
- 2. Session Framework Lora Ullerich Digital Media Specialist Lora.Ullerich@coleinformation.com
- 3. Session Framework Session Framework •Small business advantage. •Perfect the approach and offer. •Formula for success.
- 4. Background •Cole Directory published in 1947. •Crisscross directory of addresses & phone numbers. •Invaluable information for a number of industries: •Telemarketing Jack Cole •Debt collection •Law enforcement •Today, web-based lead generation for businesses.
- 6. Features: • Webinars • Articles • Blog • Resources
- 7. Small Business is Big Business – *23 million small businesses= 54% of U.S. Sales *business.gov
- 8. Small Business Benefit • You know: – Your local market area – Your customers preferences – Your product • You have the power: – To adjust your marketing
- 9. Big Business Issue • They don’t know: – Your local market – Your customers preferences • Focus groups determine: – Customer needs – Generic offers
- 10. 3 Components of Success • Referral Marketing: – Engage with your best customers • Start off small: – Don’t bite off more than you can chew • Test, measure, test, measure, repeat
- 11. Referrals • Reasons to call: – Birthday – Anniversary – Policy renewal or recent order • Thanks for your business • Build customer base with friend referral
- 13. Referrals • Spend 15 minutes: – Come up with approaches & offers – Write down a script • Considerations: – Time of year?
- 14. Approach and Offer – Introduction: • Be clear – Hi I’m Lora Ullerich, your local (business/service provider) • Stress local – Differentiates you from those UNKNOWN callers
- 15. Approach and Offer • Approach: – “I just wrote a new policy for Bob Smith and was able to save him a bunch of money on his homeowners insurance.” • Alternate: – Bob Smith is a good customer of mine and gave me your name – Your neighbor Bob Smith recommended that I call
- 16. Approach and Offer • Offer: – I would like an opportunity to quote on your homeowners insurance to see if I’m able to save you money like I was able to for Bob? – Could I set an appointment to stop buy and prepare a quote for your homeowners insurance? – Is there a better time I can call and ask questions to prepare a quote on your insurance?
- 17. Again, Track & Measure Once again, track and measure
- 18. Referral Campaign Benefits • Working referrals= Revenue Generator – This approach will make you more successful at working renewals Plus
- 19. Referral Campaign Benefits • It creates a sound foundation for success at the next level in direct marketing.
- 20. Finally, what I came to hear about…. Marketing
- 21. Not so fast! D’Arcy Norman via flickr
- 22. Marketing • If you: – Don’t do your homework – Don’t know which approach and offer works best – Buy a list, pick a postcard with a pretty picture and mail it to everyone You’ll fail every time.
- 23. Marketing Once you know the approach and the offer…
- 24. Market to Prospects • Don’t leave this to chance • Consider your 10 BEST customers: – Age – Home worth – Length of residence – neighborhood
- 25. Market to Prospects • Clone those characteristics into a list • They’re your best prospects! – Not 10,000 or 5,000 or even 1,000. – Choose the top 200
- 26. • Start by: – Make 10 calls/day – Pace yourself – What's working?
- 27. Marketing • 20 days later: – What’s working? What’s not? – Who’s agreed to a quote? who hasn’t? – Who’s your best prospect really? • Now ramp up: – Incorporate best approach – Download 400 best prospects
- 28. Direct Mail
- 29. Direct Mail • Choose a provider carefully – Vista Print – PostcardBuilder.com – Sharper Agent • Create custom prints postcards – Mimic your successful prospecting calls
- 30. Direct Mail • Start off small: – mail 50 postcards/day – Print labels from your computer • Don’t forget! – You’re still making your 20 phone calls/day
- 31. 4 Action Points • Start small – Marketing should be self-funding • Local presence – Nothing beats local • Track everything you do • Do more of what works
Editor's Notes
- Good morning everyone, Today’s small business marketing 101 webinar is called Don’t Bite Off More Than you Can Chew & is part of our Small Business Marketing 101 series. Thanks for joining us.
- Today we’re talking about 5 habits of a successful sales pro—how to reach and surpass your sales goals in 5 easy steps. Small Business Marketing 101 webinar series Thanks for joining us My name is Lora, I’m the digital media specialist for Cole Information. Today I’m happy to have Greg Moustakes on the webinar—he’s the sales manager for Cole, so thanks for joining us. Greg, tell us a little about yourself. Been at Cole for 2 years, started off as a sales associate and worked my way up. Prior to was in advertising as a project manager. You know this co-worker. They are top notch when it comes to making the sale. Their phone is ringing off the hook, their calendar is fulll of prospect meetings and every day it seems they’re reaching new heights and making more money.
- Discuss today's session. Today we’re going to go over: If you do have a question, feel free to type in your question in the dashboard to the right of your screen. We will get to those questions by at the end of the presentation. Also, we are recording this session, so we will be able to forward you the video & slides within a day after the session. And one lucky attendee will be $50 richer as we’re giving away an Amazon gift card at the conclusion of today’s presentation.
- Before we get started, just a little background on Cole Information. In 1947, Jack Cole created Cole Directory, a directory of people by their address and phone number. Jack’s considered the father of direct mail. While companies had dabbled in this type of directory in the past, what made Cole Directory revolutionary was that he used IBM punch cards to streamline the process and thus created a searchable database. This type of crisscross directory was groundbreaking & invaluable to a number of industries including telemarketing, debt collection and law enforcement. Today, through a number of our products, including Cole X-Dates & Cole Lists, we have continued to provide small business owners this searchable database of addresses and phone numbers that allows them to target consumers and businesses in their own neighborhood. We also want to provide small businesses with the necessary tools and information they need to grow their business. We do that through Cole community.com and also these small business 101 webinars.
- Today we’re talking about 5 habits of a successful sales pro—how to reach and surpass your sales goals in 5 easy steps. Small Business Marketing 101 webinar series Thanks for joining us My name is Lora, I’m the digital media specialist for Cole Information. Today I’m happy to have Greg Moustakes on the webinar—he’s the sales manager for Cole, so thanks for joining us. Greg, tell us a little about yourself. Been at Cole for 2 years, started off as a sales associate and worked my way up. Prior to was in advertising as a project manager. You know this co-worker. They are top notch when it comes to making the sale. Their phone is ringing off the hook, their calendar is fulll of prospect meetings and every day it seems they’re reaching new heights and making more money.
- Cole Community features articles, a blog & other content including past webinars we think is interesting & is beneficial to small business owners like yourself. Best of all, it’s FREE! We invite you to take a look around, check out the site & use it as a resource for your needs.
- According to business.gov, 23 million small businesses account for 54% of all U.S. sales. In addition, you know your local market, what your customers like, & the products or services you sell
- You know your local market area, Your customer’s likes & dislikes Your product backwards & forwards In other words—you know what’s working & what’s not—so you can adjust your marketing as needed.
- Let’s consider big business disadvantage—they don’t know your local market, what your customers like & dislike. Rather, they hold focus groups to determine customer needs & what generic offers & promotions will be offered across the country. Your customer’s likes & dislikes Your product backwards & forwards In other words—as a small business owner, you know what’s working & what’s not—so you can adjust your marketing as needed. That’s why today’s webinar focus is taking small steps every day to produce big results & improve your bottom line.
- As part of marketing 101-we believe there are three vital components you need to incorporate in order to be successful. They include: Playing to your strengths by using your referrals— Starting off small— Constantly testing new ideas & processes & measuring those results to refine your process to reach success.
- First, let’s take a look at referrals. These are your current customers. Find reasons to call them to initiate a conversation. Think about major milestones in their life: is it their birthday, anniversary? Have they recently renewed their policy with you or added a policy? Why not give them a call, then them for their business & then ask them for one of their friends/neighbors you can call to build your customer base.
- Before you pick up the phone, stop!
- Once you’ve got some names and numbers of referrals, spend 15 minutes & write down all of the approaches & offers you can think of and be sure you right down a script so you have an idea of what you’re going to say. Things to consider in your script: what time of year is it—New baby? Back to school? Teen-age driver?
- Be sure to include in your introduction: Be clear—tell them who you are and why you’re calling. Be sure to stress that you’re local—this separates you from the rest & lets them know that you know the area, people & are dealing with the same issues they are.
- In your approach, go back to your referral “Bob” and say “I just wrote a new policy for Bob Smith & was able to save him a bunch a money on his homeowners insurance. See how that works for a week & then alternate with slightly different approach for a week & see which works best.
- Use this same approach with the offer. In the offer, ask several different ways and see which one works best.
- In your career, you’ll find working referrals generates the most revenue.
- In your career, you’ll find working referrals generates the most revenue.
- Not so fast…. You’ll fail every time: You don’t do your homework You don’t know which approach & offer works the most effectively You buy a list, pick the prettiest postcard with a pretty picture & mail it to everyone.
- Not so fast…. You’ll fail every time: You don’t do your homework You don’t know which approach & offer works the most effectively You buy a list, pick the prettiest postcard with a pretty picture & mail it to everyone.
- Don’t leave this to chance. Consider your 10 best customers –they could be part of your referral list & ask yourself the following questions: how old are they? what’s their home worth? how long have they lived at their current residence? where do they live? Cole Information has products that offer customer cloning for your needs For Insurance Agents we also offer expiration dates of their homeowners insurance
- Don’t leave this to chance. Consider your 10 best customers and ask yourself the following questions: how old are they? what’s their home worth? how long have they lived at their current residence? where do they live? Cole Information has products that offer customer cloning for your needs For Insurance Agents we also offer expiration dates of their homeowners insurance
- Don’t bite off more than you can chew…. Start by making no more than 10 calls per day You have a lot of other responsibilities in the day, if you spend to much time on this other parts of your business suffers and you’ll stop calling. Pace yourself– this is something that you want to make a habit of out. You don’t want burn yourself out, this is a tortoise and hare thing Keep track of what’s working and what’s not. You’re still should be more interested in finding out what works and what doesn’t as you are selling
- 20-days later, take an honest look at your results and ask yourself the following questions: What approach is working? What isn’t? Who’s taking advantage of your free quote? Who isn’t? What in detail are the characteristics of your best customer? Now it’s time to ramp up: Incorporate the approach that’s worked best & download of your best prospects—400 this time. That’s 20 calls per day.
- This is where most novice marketers lose money! Why? Because they didn’t understand who to talk to, how to talk to them, and what is the offer that most likely will result in a sale. But, you do!
- Forget using a printer, mailer, or advertising agency There are many providers out there that will custom print a postcard for you at very low cost. Vista Print, Postcard Builder, Sharper Agent—be sure to buy in bulk to get the best deal Your approach and offer should mimic your successful prospecting phone calls
- Start off small Start off with a goal of mailing 50 cards per day, so you’ll order 1,000 postcards, a one month supply. Print the labels from your computer list Whatever you do, don’t mail more than 50 per day, you’ll get tired of doing it and you’ll stop Don’t forget, you’re still making 20 phone calls per day.
- To recap, don’t bite off more than you can chew, marketing should be self-funding—you want to be able to fund your next marketing campaign with the sales from your previous one. Take advantage of your local presence—nothing beats it. Track everything you do from your approach & offer to what your new customer looks like & make sure everyone in your office knows about it. Keep doing what works.