Dont Bite Off More Than You Can Chew
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The document outlines strategies for small business marketing, emphasizing the importance of referral marketing and understanding local customer preferences. It provides practical tips on how to engage with customers, utilize referrals, and effectively track and measure marketing efforts. Additionally, it offers insights into direct mail marketing tactics and suggests starting small to gradually scale up outreach efforts.
Dont Bite Off More Than You Can Chew
- 1. Don’t Bite off More than You Can Chew Jim Eggleston Don’t Bite Off More Than You Can Chew Rich 115 via flickr
- 2. Small Business is Big Business – *23 million small businesses= 54% of U.S. Sales U.S. Small Business Administration
- 3. Small Business Benefit •You know: •Your local market area •Your customers preferences •Your product •You have the power: •To adjust your marketing
- 4. Your Big Advantage •You know: •Your local market •Your customer’s preferences •You have the power: •To adjust your marketing
- 5. 3 Components of Success •Referral marketing: •Engage the neighbors of your best customers •Start off small: •Don’t bite off more than you can chew •Test, measure, test, repeat
- 6. •Reasons to call: •Birthday •Anniversary •Recent order •Thanks for your business •Build customer base with friend referral Referrals
- 8. •Spend 15 minutes: •Come up with approaches & offers •Write down a script •Considerations: •Time of year? Referrals
- 9. Approach and Offer •Introduction: •Be clear •Hi I’m Lora Ullerich, your local (business/service provider) •Stress local •Differentiates you from those UNKNOWN callers
- 10. Approach and Offer Approach: •“Bob Smith is a good customer of mine and gave me your name.” •“Your neighbor Bob Smith recommended that I call.”
- 11. Approach and Offer Offer: •“I would like the opportunity to prepare a quote for you to see if I’m able to provide you the best service/product at a competitive price like I was able to do for Bob?” •“Could I set up an appointment to stop by and prepare a quote for you regarding my business/service?” •“Is there a better time I can call and ask questions to prepare a quote regarding my business/service?”
- 12. Once again, track and measure Again, Track & Measure
- 13. Referral Campaign Benefits Working Referrals= Revenue Generator This approach will make you more successful at working renewals. Plus…
- 14. Referral Campaign Benefits Creates a sound foundation for success at the next level in direct marketing.
- 15. Not so fast! D’Arcy Norman via flickr
- 16. 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. Marketing
- 17. Marketing Once You Know the Approach and offer…
- 18. Market to Prospects •Consider your 10 BEST customers: •Age •Home worth •Length of residence •Neighborhood
- 19. Market to Prospects •Clone those characteristics into a list. •They’re your best prospects! •Choose the top 200
- 20. Start by: •Make 10 calls/day •Pace yourself •What's working?
- 21. 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
- 22. 10 Direct Mail Tips10 Direct Mail Tips
- 23. 2. Artwork that supports the message. 1. A clear and bold headline. 3. Color that pops. Postcard Tips
- 24. 4. Subhead that leads into text. 5. Benefits. 6. The offer. 7. Company name and logo. 8. Call to action. 9. Contact information. 10. Return address. Postcard Tips
- 25. 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
Editor's Notes
- #2: 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.
- #3: According to the U.S. Small Business Adminstration 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 http://www.sba.gov/content/small-business-trends
- #4: 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.
- #5: 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.
- #6: 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.
- #7: 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.
- #8: Before you pick up the phone, stop!
- #9: 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?
- #10: 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.
- #11: 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.
- #12: Use this same approach with the offer. In the offer, ask several different ways and see which one works best.
- #14: In your career, you’ll find working referrals generates the most revenue.
- #15: In your career, you’ll find working referrals generates the most revenue.
- #17: 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.
- #18: 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.
- #19: 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.
- #20: 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.
- #21: 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
- #22: 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.
- #23: 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!
- #26: 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.