Check out our December newsletter!
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PROFITABLE CONNECTIONS
December 2022
GIVE BACK TO GET BACK! Charitable Causes to Improve the World
or website. You could even pick a general cause and promote multiple organizations in a web series. Then, publish that content on your social media and website to show the world their story and what your business is doing to aid others. You could even tag the organization so they can use the content, too. If you don’t know where to locate charities to talk to, we suggest asking your network to help you find suggestions. Post on your LinkedIn and other social media pages that you’re looking to feature a charity and interview someone from the organization. Ask people you know if they have any groups to recommend or even put you in touch with. This network-sourcing solution is effective because it allows you to gather input from people who share your values. This December, we recommend making some room for others on your marketing platforms, whether through a video, podcast, or social media post. You’ll not only bring attention to an important cause but also the morals of your business. When your audience is connected to your ethics, they are more likely to use your services. In honor of National Giving Month, we want to do some network sourcing ourselves. If you or anyone you know has an organization to recommend for our Shining Light Project, visit Rise25.com/ Mission to apply. We’re always looking for new organizations to spotlight! –Dr. Jeremy Weisz & John Corcoran
It’s National Giving Month and a great time to direct our attention to charitable causes that need some extra help. At Rise25, we give back to others year-round and work hard to ensure these groups have the content, skills, relationships, and resources they need to thrive. Our main initiative is to give nonprofits a platform with our Shining Light Project, a free web series we make for organizations that apply to join. When a charity enters our Shining Light Project,
each recipient, giving them a space to tell their story to the world and bring attention to the Pay It Forward Foundation, which helped make their lives a little easier. These videos and podcasts do more than provide interesting content. Sure, we enjoy helping people put out high- quality material, but taking time to shine a light on someone less fortunate than ourselves can bring attention to an issue others may also be struggling with. The content tells an authentic story from their voice, which yields far greater connectivity than just talking about the nonprofit ourselves. Giving space on your platform to spotlight important causes also helps your business in the long run. In fact, we’ve had quite a few clients sign up with us because they checked out our Mission page and liked what we were doing for others. You’re more likely to attract the kind of clients you want to work with if you spend time featuring what’s important to you in your content. As the saying goes, “like attracts like,” and the same is true for business. Charitable acts like making free content or a spotlight will not only help others but showcase the kind of values your business finds important, ultimately bridging the gap between you and your clients. Consider interviewing a board member from a local charity on your podcast
we create free content like videos or podcasts that help them spread their message to the entire world, not just their local bubble. One nonprofit we’ve worked with extensively is Bell Bank’s
Pay It Forward Foundation. Every year, Bell Bank gives its employees funds to donate to a charitable cause of their choice, whether that’s an individual who needs some extra help or a national organization. We thought this was pretty amazing, so we teamed up with Bell Bank to highlight some of the people their employees donated to. We were fortunate enough to talk with individuals like Hunter Pinke, a young man who became paralyzed after a skiing accident, and the Ericksons, a couple who needed some support after adopting their baby boy. For Bell Bank’s Shining Light Project, we created videos interviewing
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GIVE YOUR BUSINESS A NECESSARY BOOST Track These Important KPIs
Churn Churn refers to your attrition rate or the number of customers you lose each month. Your existing customers are the most important clients your business has. When they’re happy, they will tell others about your products and services, which can help drive sales. So, isn’t it essential to keep track of the clients you’re losing each month? After you begin tracking churn, you’ll quickly realize what you aren’t doing enough of to keep the customers you already have. You’ll pinpoint the moment you’re losing pieces of your customer base and make necessary adjustments to keep them. If nothing else, tracking churn will help you realize how valuable your existing customers are, encouraging you to improve your selling strategies for them specifically. Funnel Drop-Off Rate Wouldn’t it be great if you could learn the exact moment a customer decided not to buy your product or service? But that’s exactly what you learn when you track your funnel drop-off rate. If you have a website, the funnel drop-off rate tells you how often people visit your website without making a purchase and when they decide not to buy. You can track this KPI by using Google Analytics. Knowing this KPI will help you determine what adjustments to make to your website. Keep in mind that funnel drop-off rates are usually over 95%, so don’t get too concerned if this number is extraordinarily high. It still yields essential clues about what you can change. Many trackable KPIs will benefit your business in addition to these three. Find the KPIs that matter the most in your industry and start tracking!
To run a successful business, you need to track specific key performance indicators (KPIs). Since we entered the digital age, the number of KPIs businesses can track has exploded. Your business can track so much more than just revenue, leads, and customer satisfaction. When you track the right KPIs, unique details emerge about your business and customer base, which you can adjust to help your business grow. One of business owners’ biggest dilemmas is figuring out which KPIs to track. It’s impossible to measure every single KPI effectively, but some are important for most businesses to track. Here are three KPIs your business should keep track of if you aren’t already. Contact to Customer Conversion Rate Ideally, our sales teams should close sales during their first communication with a customer, but that’s rarely the case. Instead, they spend the initial contact explaining your business’s product or service to the customer and countering their concerns. After that, your salesperson may need to follow up with a potential customer a few times to persuade them to buy. Sometimes, this approach works, allowing you to make a sale. Other times, the customer might choose not to buy from your business at all. It’s imperative to track the number of customer touches your salespeople make. If your salespeople are consistently struggling to make the sale until their fifth contact, you can adjust the sales approach. Additionally, this will help you recognize the salespeople who aren’t hitting their marks. One person may close their sales by the third contact, but another salesperson doesn’t usually close until the eighth — try to discover why. Discuss it and determine a solution. If they don’t start closing sooner, you may need to find a salesperson to replace them.
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Rise25: Helping B2B Businesses Build Profitable Connections
This Month’s Featured ‘Smart Business Revolution’ Podcasts
Miranda Naiman | Interviewing Tyra Banks and the Benefits of Being an EO Leader
Adi Klevit | Podcasting Strategies To Scale a Business
Miranda Naiman is the Founder of Empower, a human capital consulting firm that provides talent,
Adi Klevit is the Founder of Business Success Consulting Group, an organization that provides businesses with the infrastructure, processes, and systems they need to thrive. By leveraging her ability to understand business processes — as well as people — and drawing on her high-caliber skills in vital areas of
advisory, and insight services across the
African continent. They serve clients in the area of talent and executive search, advisory in learning and development strategy, team building,
personnel management, finance, and operations, Adi can help any business owner achieve their goals and bring order to their lives. She is also the Host of the “Systems Simplified Podcast,” which features top leaders sharing stories on how to systematize a business successfully. In this episode of the “Smart Business Revolution Podcast,” John Corcoran interviews Adi Klevit about podcasting strategies to scale a business. Adi explains how she finds guests for her podcast, how podcasting helps gain new clients and grow the business, and why she works with Rise25. Special Shoutouts: A few notable people on Adi’s journey include Tania Sterl, Kate Winkler, Kirsten Meneghello, and Mitchell Levy
insight research, and market intelligence. Miranda is the incoming Chairwoman of the Entrepreneurs’ Organization’s Global Learning Committee. In this episode of the “Smart Business Revolution Podcast,” John Corcoran is joined by Miranda Naiman to talk about Miranda’s company and her experience interviewing Tyra Banks. They also discuss the benefits of learning from other entrepreneurs and being an EO leader. Scan the QR code or visit the link to listen to the full episode.
SmartBusinessRevolution.com/ miranda-naiman
Scan the QR code or visit the link to listen to the full episode. SmartBusinessRevolution.com/ adi-klevit
This Month’s Featured ‘Inspired Insider’ Podcasts
How Tom Vozzo Went From President of a Billion- Dollar Company to CEO of Homeboy Industries, The Largest Gang Rehabilitation and Re-Entry Program in the World
How to Lead a Lasting Change in Your Organization With Joseph Grenny of VitalSmarts
Joseph Grenny is the Co- founder of VitalSmarts, one of the most respected corporate training and organizational development companies globally. Joseph also co-founded The Other
Tom Vozzo is the CEO of Homeboy Industries, the largest and most
successful gang intervention, rehabilitation, and re-entry
program across the globe. He left a lucrative career in corporate America, where he had helped grow a company from $50 million to $300 million to over a billion dollars in revenue as president of ARAMARK Uniform and Career Apparel Group. Listen to this episode of the “Inspired Insider Podcast” with Dr. Jeremy Weisz, featuring the CEO of Homeboy Industries, Tom Vozzo. They discuss why Tom quit corporate America to take up an unpaid role, the tough life of a former gang member, and how Homeboy Industries is making a difference plus more.
Side Academy, which is a two-year, peer-run
residential school for those with deeply broken lives. He is the Chairman of the
Board of Unitus Labs, a nonprofit on a mission to reduce global poverty through economic self-empowerment. Joseph is a four-time New York Times bestselling author. In this episode of the “Inspired Insider Podcast,” Dr. Jeremy Weisz interviews Joseph Grenny about how The Other Side Academy is helping change the lives of people with long histories of crime, homelessness, and addiction. Joseph also talks about the challenges that come with working with executives in leading change, how to receive tough feedback, and more. Special Shoutouts: A notable person on Joseph’s journey is Dave Durocher
Special Shoutouts: A notable person on Tom’s journey is Father Gregory Boyle Scan the QR code or visit the link to listen to the full episode.
Scan the QR code or visit the link to listen to the full episode. InspiredInsider.com/joseph-grenny- interview
InspiredInsider.com/tom-vozzo- interview
LEARN FROM THE BEST Entrepreneurs Every Business Should Listen To
Darren Hardy It’s rare to meet a business owner who has not heard of or read one of Darren Hardy’s books. The author of “The Compound Effect” and “The Entrepreneur Roller Coaster” has been a leader in the personal development industry for over 20 years. Hardy is the developer of award-winning training programs for entrepreneurs and is the founder of SUCCESS magazine. He even prides himself on mentoring new business owners and helping them find success. Simon Sinek To grow your business, you must become a successful leader, but what does that look like? Simon Sinek has written books like “Start With Why” and “Leaders Eat Last” to help train entrepreneurs so they can become successful leaders. Whether
When entrepreneurs prepare to start a business or try to grow their company, they often search for advice from other successful entrepreneurs. So much information about the business world is available though. Regardless of whether you head to the bookstore to buy a new book or navigate to YouTube to find helpful videos, it can be overwhelming. With all of these options available, you may wonder, “Which entrepreneurs or business owners are actually worth listening to?” While recently talking with successful entrepreneurs about which people inspired and taught them important lessons, the same few names came up repeatedly. So, according to leaders across various fields, here are three business owners you should learn from if you want to grow your business.
you watch his online talks, listen to his podcast, or read one of his books, Sinek will inspire you to build a business that you will truly believe in. Mel Robbins Procrastination is one of the greatest obstacles entrepreneurs can face. They might have great ideas in mind, but getting them started can often be a real challenge. That’s where Mel Robbins comes in. She struggled with procrastination for years, racking up hundreds of thousands of dollars in debt before she found the secret to overcoming her problems. Luckily, she shares her thoughts in her book “The 5 Second Rule” and has given helpful information through numerous speeches. Now she’s using her previous hardships to help other business leaders avoid making all-too-common mistakes.
Besides ’80s hair, it’s hard to imagine what Prince, Dee Snider, and Tipper Gore have in common. But they all contributed to the parental advisory stickers that dotted CDs for decades. The star-studded saga started in 1985 when then-Sen. Al Gore’s wife gave her daughter a copy of Prince’s smash-hit album “Purple Rain.” She was so shocked by its lyrics that she co-founded Parents Music Resource Center (PMRC), which contacted record labels requesting album markers for violence, profane language, and sexually explicit content. The Recording Industry Association of America (RIAA) suggested a generic one-size-fits-all advisory label as an olive branch. But PMRC refused, securing a hearing in Congress instead. Frank Zappa, Daniel “Dee” Snider, and John Denver appeared to oppose the labels. TOO HOT TO HANDLE The Celebrity-Ridden History of Parental Advisory Labels
Rise25 Podcast Spotlight
'eComm Breakthrough Podcast ' Josh Hadley Featuring: Highly-successful CEOs and business owners sharing strategies to help companies scale to eight figures and beyond 'Next Wave Leadership' Dov Pollack Featuring: Top leaders creating influential places to work and grow 'I Am Home'
'What The Teck?' Rolando Rosas and Dave Kelly
Featuring: Tech experts discussing trends and issues impacting the modern workplace 'The Firebelly Social Show' Duncan Alney Featuring: Food and beverage brands on a mission to make the world a better place 'Multiply You Podcast' Austin Clark Featuring: Industry experts and thought leaders paving the way in their field
Tyler Wisecup, Becca Sudbeck, and Hilary Woltemath Featuring: Creators
Ultimately, the RIAA moved forward with generic warning labels that read “Parental Advisory: Explicit Content.” Ironically, the prominent sticker became a badge of honor among music fans.
developing groundbreaking projects and ideas that help make a house a home
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Inside This Edition
1.
Bringing Attention to Others Helps Your Business Connect
2.
KPIs Your Business Should Be Tracking
3.
Great Advice From 3 Entrepreneurs
The Strange Story of Parental Advisory Labels 3 Methods to Boost Existing Customer Sales
4.
IMPROVE YOUR EXISTING CUSTOMER SALES
their friends about your company. You should also send out email marketing to your existing customers to share information about new products, services, or promotions. Start a customer loyalty program. Many companies offer their customers loyalty and reward programs — the more they shop, the more they earn. This is a great way to encourage current clients to continue shopping with you. Why would they go to a competitor for a similar product if they can earn rewards for shopping with you? Just make sure these rewards are worth your existing customers’ time, and you’ll see a boost in return sales before long.
With These 3 Strategies
One of the biggest mistakes businesses can make is focusing too much on new customers or potential leads. While your business needs to attract new customers, you can’t forget your existing ones. These clients have already done business with you. They know what your business and its products can do for them. If they like the business relationship enough, they’ll even refer other people to you. That’s why it’s essential to boost your existing customer sales in addition to pursuing new leads.
Cross-sell and upsell your products. You may offer merchandise considered to be one-time
purchases that leave no reason for a customer to return, but that’s not necessarily the case. Try selling products that relate to their original purchase. Your company might also have products customers would buy, but they just don’t know about yet. Make sure to cover your bases, and be sure to ask if there’s anything else you can help each customer with after completing every sale.
If you want to improve your existing customer relationships and sales, try utilizing one of the following strategies. Engage with current customers often. After successfully completing a sale, reach out to your customer to ensure everything is going well with your product or service. You can address their concerns and provide excellent customer service if they are unhappy. If they are happy, they’re now aware that you care about them as a customer. They’ll be much more likely to buy from you again or even tell
Follow these tips — and you’ll be sure to see an increase in sales from referrals and
previous customers as well.
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