Home Wealth Project
Extensive Research On How To Build Wealth From The Comfort Of Your Own Home.
Extensive Research On How To Build Wealth From The Comfort Of Your Own Home.
Sep 9th
The Investing and Stock Market Guide to Profitable Investments
Discover how to Invest Profitably
Sep 12th
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Adconion Media Group London: Performance-driven online advertising and content syndication network Artesian Solutions Winnersh:… |
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Apr 7th
The Best Place to Invest Your Marketing Dollar
This content from: Duct Tape Marketing
Budgets for marketing are always tight, but these last few years, well, they’ve been stretched beyond tight.
So, how do you decide where to invest the little money you have. Traditional thinking points towards advertising and other ways to make the phone ring, get more traffic to the site, but I say there are lots of low cost and next to free ways to do that and the real payoff is in conversion. It’s amazing how much money is wasted generating leads that go nowhere. If you are generating a decent amount of leads, but only converting 5% to customers, ask yourself what it would take to get that conversion number to 10%. It might not take much at all and you would double your business. Wouldn’t that be worth your time, money and energy.
My guess is you actually don’t need any more leads, in fact, cut out the non qualified ones and you could probably double your business with less leads than you have today if you focused more of your energy on lead conversion. It’s the first place I go to fix a business when asked.
Here’s your plan of attack for greater lead conversion
Get metrics – figure out where you are today – use Google Analytics and pick up Avinash Kaushik’s book Web Analytics 2.0 to find a host of tools and techniques that will help you better understand all of your online and offline conversion numbers. Understand these four variables and go to work on improving them: 1) % of leads converted 2) Average $ amount per customer/transaction 3) Average number of transactions with each customer 4) Cost to generate a customer
Get better – Do some usability and multi-variant testing on your web pages using tools like Crazy Egg, UserTesting.com, and Google Website Optimizer to find out how to change them to get higher conversions. Pick up Tim Ash’s book Landing Page Optimization or better yet consider hiring a page optimization firm like Ash’s Site Tuners to help you increase the interaction, engagement and conversion from all of your web pages.
Get a process – Create scripted process that allows you to qualify, nurture, convert, transact and repeat with each lead that comes into view. Know what everyone in the organization is going to do with a lead to move them to the next step, present your unique value proposition, make an offer and thrill them after they agree to purchase. Have set, documented and scripted approaches for all to follow and follow them. Here’s a hint though: Don’t simply copy what everyone else in your industry does. Use your conversion process as a differentiator. Create an intentional interruption and be prepared to show why your way of doing it is a benefit. Invest whatever it takes in time and resources to get this right and continue to tweak it.
Get training – Not everyone comes out of the womb selling. For some it’s hard and sales training is often a great investment. But that doesn’t mean you have to come off as the stereotypical schmoozer sales person to be effective. Effective sales training is often a matter of creating some patterns and processes that make you a better listener, more authentic, and better prepared to demonstrate you understand the problem a prospect is experiencing rather than simply having an answer. I for one think books like Let’s Get Real or Let’s Not Play or Go-Givers Sell More are more relevant in today’s relationship selling world than the “close them or die” approaches of the past.
Image credit: stuartpilbrow
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View full post on Small Business Marketing Blog from Duct Tape Marketing
Apr 4th
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The company has opened an office in Bangalore last month and plans to invest USD 10-million (Rs… in sales and marketing over the next 18-months. |
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View full post on Home Wealth Project Riot!
Mar 10th
This post headline (but personal and business value) really resonated with me today as I reflected on an experience we had eating at a great, new Thai restuarant we found.
We were finishing up our lunch and the sweet lady who took our order came over to give us our credit card receipts. When she saw one of us going to put a tip on it, she said (maybe paraphrased a bit, by the way):
Oh, don’t put a tip. They don’t give it to us. And I don’t want you to spend any more than you have to.
We were all kind of shocked. One of us commented after that that we WANTED to tip HER because she was really great to us before that comment but now didn’t know how to now.
With several of our team there, it really reminded me of a key value I like to instill in and through our team:
Invest in people … and they will invest in you
Then I thought back to a coffee meeting I had earlier that week with one of my great friends and mentors, Ray Griffin. We were talking about our roles in leadership in our respective organizations and the challenges that come with it. (Ray is in pastoral leadership at Quail Springs Baptist Church, where I serve.)
He shared this paraphrased quote to me he had found in something he was reading recently …
You can either light a fire underneath people or you can light a fire within them
We both agreed that lighting a fire WITHIN people was integral to our leadership values and practice.
Any boss can light a fire underneath people. It’s the fastest and easiest thing to do.
I can march in our office and demand things. I can threaten or coerce our team to do darn near anything I want. But ultimately we all know …. that ain’t getting us anywhere.
But … lighting a fire within people is truly powerful. Ultimately it is the best strategy and one I’ve tried hard to cultivate within our team. But I’ll tell you … it takes a LOT of time. It isn’t an instant solution. It’s isn’t an easy one either.
It takes time to learn how different people are motivated. How they are encouraged, how they learn, how they grow.
Here’s what I’ve learned … (Disclaimer: I don’t do these things perfectly every time and have made plenty of mistakes along the way.)
I firmly believe that doing all the above will help create a long-term, sustainable business that we all love and feel privileged to come to work to do every day … and that our customers support us with their pocketbook.
After two years of hard work (heartache, pain, tears, hard decisions), I’ve finally started to see the fruits of what we do. And most specifically seeing the fires within our team spread like wildfire through what we do.
Of course, like everything, we are a work in progress. We’re always refining what we do and how we interact. We’re all in the people business … and dealing with people is often messy. But I think of almost everything in our business as a test, an experiment. We don’t have 100 years of business behind us to help direct us. I’m glad we don’t because we’re creating a new culture together.
Every day, we are charting new ground … together.
But when I hear examples, like our sweet waitress, that reveal a fractured team anywhere, it makes me cringe.
Invest in people … and they will invest in you.
[Funny ... but after writing this, I think most, if not all of this, could equally be applied to our customer community. That's another post brewing.]
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