... CONTINUED FROM COVER to turn a corner in my head. Not too long after that, I started Newsletter Pro. I spent a ton of time making sure that my fundamentals were on point. As the company has grown, it is my firm belief that continuing to focus on those fundamentals has greatly contributed to the success of the company. Hopefully, as I go over some information here — which you may know or be doing in some fashion — you don’t write off what I’m teaching as too basic. Instead, take a look at the information and use it to build on or improve your existing system. Let’s jump in! One major reason companies don’t grow is that they don’t have effective lead follow-up and sales systems. I was at a small event two years ago where Tony Robbins was the guest speaker, and he said his research has found that it takes 16 touches, at a minimum, to warm up a lead. As we all know, most people give up long before 16 touches. Most salespeople quit after one or two attempted touches, let alone actual touches. This leaves you with a very expensive name and email address if you’re lucky. Because most businesses don’t have a system for growing leads, they instead focus nearly all of their marketing energy on getting new leads. What actually keeps most companies in business is the small percentage of buyers that are ready to buy now. That
means you’re spending most of your marketing dollars on trying to find just a few people out of each hundred leads who are actively ready to buy. It’s a bad system that most small businesses get trapped in. To fix it, you need to implement a customer relationship management (CRM) system and deploy a variety of marketing pieces across a number of different media. This way, you’ll make sure to nurture the leads who are interested but not ready yet to buy. That brings us to the first formula. (NL + LNC + EC) = $$$ That is new leads (NL) plus a lead nurture campaign (LNC) plus an educational campaign (EC) equals more sales. When we get a new lead, we need to drop them immediately into a lead nurture campaign and an educational campaign. The goal of these campaigns is to build a relationship with your new lead and educate them about your products or services. The best way to accomplish this is with a combination of media. Many people build out these campaigns and simply use email. Big mistake. So few people give out their primary email address anymore, and open rates suck. This is why you need to use multiple media campaigns. You’ll want to add in a variety of media and use as many different types of media as possible. For example, you may use email, texting, direct mail, phone calls, groups, in-person conversations, podcasts, videos, etc. The reason you have to use so many different types of media is that you don’t know which media channel(s) your lead will actually engage with you on. Plus, you have to provide so many touches that you need to use as many different media channels as possible so that it doesn’t take 3.4 years to convert a lead to a sale.
One of the most important media channels on my list above is one that many would normally overlook, and that is direct mail. The reason direct mail is so important is that it has a near 100% deliverability rate, and that makes it powerful. Most businesses will be lucky to get one-fifth of the deliverability rate of direct mail. Since you need so many touches, this is one media that, when done correctly, can speed up the rate of lead conversion. Also, when you use a newsletter, you can build relationships, educate your audience, and make targeted offers just to leads that existing customers won’t see. Having the right mix of content, knowing which media types should be used for nurture campaigns versus sales campaigns, etc., are topics for another day, but take a hard look at the above section and review what you already have and what needs to be improved. –Shaun P.S. I’ll go more in-depth on this magic formula next month, so you have time to work on this section. P.P.S. Need a newsletter to kick off or round out your campaign? Visit NewsletterPro.com/schedule to chat with a Pro. They will be happy to walk you through the best practices all around.
“...THE MAIN REASON BUSINESSES STRUGGLE IS BECAUSE THEY EITHER DON’T UNDERSTAND THE
FUNDAMENTALS OF BUSINESS OR FEEL THAT WORKING ON THE FUNDAMENTALS IS TOO BASIC. “
BUILDING RELATIONSHIPS TO HELP SMALL BUSINESSES SUCCEED.
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