5 Things to Increase Revenues
You understand that you have to boost sales. But write "increase small business revenue" on your to-do list and I'd be willing to bet that you won't get around to it. The issue will conquer you before you ever actually get started.
And therein lies your actual predicament: Where do you start? What levers can you pull to bring up your bottom line?
I Will show you, if you'll allow me to make a short detour back to high school mathematics.
To get your mind around it, here's a simple formula:
(#*%*$)/t ~ Earnings
OK, it doesn't look all that simple, but it is.
# = The number of leads you get per month.
% = The conversion rate of bargains into trades. For example, if you are called by 100 people, and out of those, 10 buy, your conversion rate is 10%.
$ = The average sum you accumulate from a customer in one trade.
t = The average amount of time it takes to close each deal.
~ (squiggly man) = This symbol indicates a proportional relationship.
Revenue = The sum your sales pipeline generates per month.
What does this all mean?
You'll get a larger number should you think back to Algebra course, by decreasing variables in the denominator of a fraction or increasing variants in the numerator. In addition, if you have an amount that is proportional to that amount increases and revenue, so does your sales. Therefore, if you can increase #, $, or %, you increase revenues; also, if t can be decreased by you you can raise earnings. Oh, and the really cool thing here is that if you're able to make quite little positive changes to all these variants you're essentially leveraging the "Compound Effect" as described best by Darren Hardy.
Let's say you are a business consultant. A month, you get 40 leads, and also you sell to two of them. Your average sale is $5,000 and it takes you 10 hours to close a typical deal . Units aside (to simplify), your formula would be (40*5%*5,000)/10 which gives you the magic number of 1,000.
The compound effect at work!
So how do you improve each one?
Amount of leads - Leads that are raising isn't difficult. Ciplex, for my Web design business, we focused on making sure that every web site we built for our clients contained a credit that linked back to us. When people saw the great websites we questioned who created them and assembled, they had an easy method to contact us. That's merely a small opportunity. Depending on your own company, you can attempt a number of marketing tactics, from trade-shows traditional advertisements and, to PPC, SEO, social networking, and word-of-mouth promotion.
Implement a better prequalification round, your job here will be to get better leads, optimize your site for conversion, and enhance your sales process and pitch. We focused on training our team associates to improve their product knowledge, to raise conversion rates at Ciplex. Instead of sales people, they became consultants, working with the customer to learn the most effective option for their business. Clients adored that and our conversion rate jump was seen by us because of this.
Average price size - Can you sell more in a transaction enhance your product quality, or try introducing higher ticket items into your product/service package? Be careful with this one as it does not consistently make sense to raise your costs. As we wanted to stay competitive we left this one out at Ciplex, as well as the market did not give much room to raise pricing to us.
Average time to close a deal - There is no replacement for excellent salespeople and empowering them with knowledge, tools, excellent systems, and procedures to get the task finished right. We also saw the typical time to close a deal go down, as we saw our conversion rate increase when we focused on training our team.
The end target will be to break down sales creation into specific, quantifiable action items. By making very small changes to each variable growth can be compounded by you in your revenue flows and boost the throughput of deals through your pipeline. After you get your sales to where you would like it, your focus should shift to maximizing profit margins (without losing qualify) to actually scale your business.
Game Changing Lead Follow Up Technology
Leads are an important portion of any salesforce strategy. Without lead follow up the procedure stumbles, relying on fortune and only opportunity. Fostering leads is an effective method to take control of your sales force, relying on expertise instead of luck.
Fostering leads can be a time-consuming and demanding endeavor. It is difficult for a sales staff to know, for instance, which leads will convert successfully into clients and customers. This implies that it can be tempting to not follow up on a lead.
Occasionally so-called imagine leads can become big business and quality leads can fizzle out. It's this unpredictability that pushes against many businesses to spend equal time plus energy on all leads. But this may not be the very best practice for lead follow up.
Possible vs Chance of Conversion
And sometimes this every-stone-unturned strategy can be limiting in its own manners. Lead development and creation is, at the heart of the matter, about resource allocation.
If you have sufficient resources to come up with every potential lead, that strategy makes a lot of sense. Nevertheless, most companies do not have unlimited resources to throw at generation and lead development, so there's a balance that must be realized. The possibility of the likelihood of the lead to develop into a conversion and each lead is a crucial, although delicate, equilibrium to achieve.
The best way to Follow Up with Leads: A Strategy
The top practices for lead follow up begin with a strategy. Maximizing the efficiency of the interaction and also the potential of the trade is at the core of the strategy.
Your lead's time is precious. If roadblocks could be identified before in the process, it'll save everyone time and money. That said, there's not any such thing as the ideal lead, and all leads will have to be coached via the process to some level.
They key would be to get a fast handle on what your lead needs to be able to successfully convert (attempt our 5 step process for higher conversion rates). It is likely to be a successful experience if you can supply that need. And establishing this before in the procedure will make the whole interaction more cost effective, more efficient and successful for every party.
There are several ways a lead may be created, depending on the form and scope of the effort. Occasionally leads are generated through a straightforward pay per click campaign, like Google AdWords. Sometimes they are created through a combined Search Engine Optimization (SEO) drive. Other possibilities range from a simple word of mouth reference to the complicated white-paper distribution. Virtually all lead generation systems have something in common: info. Find out more about the many types of lead nurturing programs to locate a software that works best for your organization.
React Rapidly to Leads
If most of your leads don't come from now that is online, they likely will in the near future. Because advice proceeds so rapidly in the digital world of today, your leads have short attention spans and high expectations.
For example, in case you make a purchase on Amazon, an e-mail verification of the purchase is sent within seconds. It is an easy, automated process, but the relationship solidifies. And, more significantly, it's the speed consumers expect.
Implications of Waiting To Contact Leads
This means that letting days go by before contacting leads is squandered time. Waiting just five minutes can reduce the chance of the lead to convert by up to a factor of 10. That means for every minute you wait, you are losing customers.
Manage the First Contact
The first contact may be difficult to handle, but it must be done so thoughtfully. If initial contact comes in the type of a white paper, for example, following up with a phone call asking "What did you think of that white paper?" within 60 seconds would be a mistake. Obviously, an entire white paper can't be read by someone in under a minute.
But automating an email delivery - one with a contact name and phone number - is an effective strategy to support to the lead that he or she has input the lead procedure.
What's Email Lead Nurturing?
Email lead nurturing is not complex. Using e-mails, you can affirm, follow up and participate with leads. Automated processes make email lead nurturing straightforward.
Keep in mind that communication is essential to nurturing leads through what can many times be a long process. Beginning that communicating immediately sets the tone for all future interactions. Using electronic mail is an easy method to communicate with all the lead immediately.
In case your lead contacts you with a question, research conducted by the Harvard Business Review suggests that reacting within an hour gives you seven times better a chance at a meaningful interaction than should you react one hour later.
Lead Response Time
When your lead is prepared to speak the cardinal rule of lead nurturing is always to participate with your lead. Leads included, everybody, have moods and mindsets. You're missing an opportunity by not being there when they are ready if they have built themselves up to talk about your merchandise.
It's worth noting that by keeping great lead data, various team members can be enabled to efficiently interact with leads.
Leads are more likely to secret when you are easily available. And they're not as inclined to find reasons to seek out your competition.
Secrets of Lead Follow Up
Invest in Exceptional CRM Resources
We've already confirmed that communications and data are both crucial to developing your lead follow up. Those endeavors appear quite straightforward, however they can be complicated and time consuming. Managing those jobs economically is why many businesses invest in CRM, or Customer Relationship Management platforms.
CRM is a wide term. Software or folks either provided it's, but, whatever the provider, it empowers data from leads and efficiently handled interactions with.
Perhaps the most common CRM applications available is a service called SalesForce, which allows you to use technology to achieve best practices are followed up by lead. This CRM is scalable, making it a perfect fit for companies both small and big. It is effective at managing everything from email marketing to opponent tracking to sales cooperation.
Basically, SalesForce can help by giving your team access to excellent advice, which SalesForce could be set up to gather you keep in contact with leads. Of course, SalesForce is not the only choice. All of them offer software with support.
Consider Help from the External
Occasionally it is more efficient to let another person connect the dots for you. Occasionally an exterior eye can help realize this mixture in a sense that insiders simply can't fathom.
The size and extent of what each company expects to accomplish will determine the level of support necessary. Customer Relationship Management can be one that you simply don't have the time or expertise to effectively manage on your own, a fulltime occupation.
If that is the case, a software solution including SalesForce will, on its own, do little to place a dent into return on investment. You won't have the time to use the applications to its full potential. The solution, then, is to partner with specialists in that field.
Give it Away for Free
Creating great content, for example white papers, e-books and media that is social places, is an essential part of lead nurturing. Content is intended to prepare your potential leads and encourage them to recognize their need for services or your products.
A lead that comes to you - an inbound lead - is far more likely to convert into a customer than almost any different kind of lead.
Supplying valuable content at the start of the relationship is just the start of the nurturing process. Lead follow-up best practices indicate that you just continue to provide access to , engaging content that is helpful.
Instruction is incredibly valuable. You make the lead more inclined to return when you offer it for free. You can automate this procedure using a lead follow up email, which drastically improves your efficiency.
In certain very literal ways, leads are the future of your organization. But not all leads will be equal. Some will be sales-ready and others will be advertising-capable. And, of course, there are various leads that fall someplace in the middle.
Lead nurturing is simply the art of finding out which leads fit into which groups. There are lots of means to accomplish that, like using a CRM system and analytics.
The beauty of lead nurturing is that it offers you the chance to calibrate your result to each individual lead, therefore increasing the chances of a successful conversion.
Lead nurturing for the complex sale can also make your entire operation more efficient. Putting your leads into groups and following lead nurturing best practices allows you to allocate resources predicated on likelihood what the lead has to convert and to convert. Lead follow up and nurturing allows you to guide leads through a complex process based on the needs of your lead and both the demands of your sales team.
Leads come with a group of expectations into any nurturing process, and they judge you based on how well you fulfill those expectations. You also must really have a plan, although you can automate part of that process, together with assistance from CRMs. The Digital Bridge can help with that plan by keeping you updated with the latest industry news and knowledge.
A logistically sound, strategically lead nurturing campaign that is planned will help you optimize your results and maximize your efficiency. More satisfied leads mean higher numbers of conversions. And at the close of the day, that means higher profits, which will prevent you in business more.
The more info you've got at your disposal, the better position you are in for the long term. If you like to learn more about learn more on the topic of growing your business through customer relationship management and the best way to do lead nurturing, sign up for our newsletter to get periodic updates.
If you are looking to make money through website design, then the following article was written for you. In this article you will find tips and tricks and great information that will help you master the art of website design.
Make sure there is a prominent tagline on your site Using a tagline simply means that you will need to come up with a quick statement that lets visitors know what your site is all about. Clear taglines are effective in potentially capturing the attention of a reader in the critical first few seconds they visit your site.
Make sure the combination of colors your site uses is attractive and makes the site easy to read. You have to be certain that your text will be readable on top of the background colors you use. Using dark colored text on a light colored background generally ensures that the text is easy for visitors to read. If you need help determining weak points of your website, show your current version to a friend for feedback.
Always double check pages for broken links before publishing a page. Visitors will be annoyed if they click on broken links. Use a program to scan your site to get the job done automatically.
Break up long text blocks. Having a huge wave of text is unnecessary for any site, especially when you can break it up by using images, or even separating it into different pages. Boring your viewers will only make them leave, so keep things as simple and fresh as possible.
A search function should always be included when you develop a site that is very large. The best place to put your search box is on the top of your homepage. Shoot for the upper right corner. Users often expect to see a search box in this area and may want to search your site for the information they are looking for. You can get a search bar from Google or FreeFind.
Free software exists that can help you set up your site. You can use a lot of free tools to assist your building of your website design, so check into the software that is available to you. You just need to do a little Internet searching in order to find some free tools that will work best for you.
The best web sites communicate a lot of information in a small amount of words. If you are long-winded, people will easily get bored and find another site that is more concise. Make sure any content is relevant and easy to understand - newspapers use an eighth grade reading level, which is the most common literacy level.
Website Design Trends for 2016
Learning some basic HTML will help you add some interesting extras to your site. For example, you can have words that follow your cursor, or a banner that flashes important information. Make sure to change the colors and fonts occasionally, so you seem more involved with the web site and its design.
Put ALT tags on your images. It helps those who are surfing the web with disable graphics. It also helps those with visual impairments, as images can be translated to voice. If you use your images as links, the ALT text will also give you an easy way to describe how the link behaves. Lastly, search engine crawlers make use of ALT tags, so employing them can help improve your search rank.
You constantly want to test your page to ensure it is functioning well. You must test its user usability and interaction early so that you can add these aspects to the design later. Continue testing it out as you improve and expand your website.
If you already have a particular web hosting solution that you know you are going to use, keep its limitations in mind as you design your website. For example, do not create a website that relies on specific programming languages if your web host does not support these languages. It is fairly simple to find out which technologies are supported by your web host. Make certain that your website design is something that is within the limitations of your host.
Part of designing a good website is finding the best website hosting package. You want a package that offers ample disk space, bandwidth, email accounts, and such. If you cannot find a good website host for your project, then you shouldn't start your project. Hold out until you can locate a premium host.
White space is an important part of website creation, so don't be afraid to use it. Cluttering up your web pages with too many images or too much text, or using a distracting background, will only irritate your visitors. White space can make the important elements of your page more visible.
Best practices in website creation are constantly evolving. What was standard a year ago could be deprecated today, or even be completely unusable. This is why it is so important to stay up to date, and also crucial that you verify everything you learn. Make certain that the information you acquire is current and not outdated.
While you may wish to play a large role in the design of your site, it is not necessary to undertake the entire project on your own. Website design requires a thorough understanding of a lot of different things, such as web programming, content creation, search engine optimization, user interface design and graphic design. You should never feel embarrassed asking for help when you do not know how to do something. Even if you want to do the majority of your site building, you can hire an expert to handle what you can't.
Do you now feel comfortable with website creation? Refer to this information often to apply it successfully to your website design pursuits.
Social Media Marketing Beyond 2016
Any solid advertising plan should include social media marketing in its pages. The fact is that social media marketing delivers a heavy impact for virtually no cost at all. Furthermore, you can use your social media landing pages to send subscribers to your website. If you are interested in boosting your traffic, the following advice has been written with you in mind.
To help your customers help you spread your content, make sure blog posts have the right buttons to get easily shared. You can add Facebook Like and Share buttons, as well as Linked share ability and the Retweet button for Twitter users. When you have engaging content your regular followers like, they will spread it around the internet, hopefully drawing more followers to you.
Provide a way for people to sign up for email alerts when you post new blog posts. Whether you're just putting up a post rehashing a previous topic or writing about a new product, giving followers a way to stay connected works, even if this type of social media marketing is more recognized as older way to utilize Internet marketing.
Update your Twitter regularly so that your followers actually get a chance to see your post before it gets pushed further down their page. Also, make sure that you focus on volume when you are dealing with Twitter. Use Twitter's character limits to your advantage, and split one event or update into several small updates.
Do not forget to post a link to your website or blog on your social network profiles. If someone hears about your products on a social network, they will need to have access to more information and see what you use as a storefront before they can decide to buy anything.
Add relevant tags to your Youtube videos. They will be more likely to come up in searches linked to your products. You could use keyword tools to find out which keywords are popular among your target audience. Remember that your audience will be more likely to share something if they find it relevant to what they were looking for.
Tailor your posts to your target audience's experiences. You should write about things your customers can relate to or they will not share your content with their friends. Take the time to read the status updates your customers are posting and identify recurring themes and issues you could mention in your own posts.
Find out where your customers are getting their social fix. You can leave yourself twisting in the wind if you start a social media marketing campaign that reaches none of your target audience. You need to know if your customer base will be reading blogs, are tweeters or perhaps, they Facebook often. Research is the key to maximizing your efforts.
Your content is easily shared on Facebook. Anytime someone comments on your site, it will give you free advertising to hundreds of people. Encourage the readers of you page to talk between each other and with you on the posts you make to gain more exposure.
If you send out periodic newsletters, always provide a link to your website's Facebook page within it. This provides those people who receive your newsletter but might not realize you're on Facebook to "like" you or follow you. The more opportunities you provide for people to connect with you, the more likely they will.
Make it easy for your website's visitors to follow you on social media sites. Your customers are likely to already be using social media daily, so leveraging that to remind them of your deals or special offers is effective in keeping them coming back to your site.
Use your content to talk about how well you are doing on social media websites. For example, create an article when your company reaches five thousand fans on Facebook. Thank the folks who are following you, and give them a summary of your experience. This kind of article is going to get spread around fast.
Combine social media marketing and email marketing. Include a Facebook or a Twitter button at the bottom of your emails and explain that you will answer your customers' questions personally on these websites. Encourage people to subscribe to your newsletters and other information by adding the appropriate links to your emails.
To make sure your social marketing campaign is reaching your customers, find out where they congregate. Are many of them on Facebook or do they prefer Twitter? Depending on your niche, you might be better off looking at LinkedIn or even YouTube. Poll your customers and find out where they spend their internet hours. Pitch your tent there.
Do not neglect LinkedIn. LinkedIn is less popular than Facebook or Twitter, but you can find extremely influential users on this site. Add a LinkedIn 'share' button on your articles, and chances are that someone who shares your content on LinkedIn will cause dozens of people to share it on other websites.
Learn to utilize YouTube. You can post videos related to your business on this site. This allows you to create a greater personalization with your customers as they hear your voice and see your face. If you have a Twitter account, you can send links to your new content, increasing your YouTube traffic.
You need to tie all of your social media sites together using links in order to have the most successful campaign Tie in things like your Facebook, Youtube, and Twitter accounts all together. Your Twitter profile should contain your Facebook and blog URL. This makes it simple for your customers to follow you in whichever way works best for them.
Make the most out of your marketing campaign in social media. Try to focus on the most popular social media websites such as Twitter, Google Plus and Facebook. When you focus on resources, you create campaigns that are better, that are more likely to get you sales.
As you can see, starting your own social media marketing efforts can be easy. If you educate yourself and use your resources wisely, social networking websites can become a powerful tool in your advertising toolbox. The above advice should put you well on your way to social-media marketing success.
Follow These SEO Techniques
Many people don't know where to begin when trying to optimize their website for search engines, and without knowing the factors valued by search engine algorithms, you could end up wasting a lot of resources. This article contains some SEO techniques and tips to help make your search engine optimization (SEO) campaign successful.
When using SEO techniques on your website, resist the temptation to include common misspellings of your keywords to increase hits. Most search engines today are smart enough to fix users' mistakes before the search even begins, so traffic will not increase using this method. Instead, your site will appear unprofessional and untrustworthy to visitors.
When setting up your site with SEO techniques, be aware of how search engine spiders view your page. For example, while using images for navigation links may look attractive to human viewers, it will hurt your search engine rankings. Your rankings, and your reputation for users with accessibility issues, will be increased if you use primarily text or at least provide a text alternative for image links.
Adding fresh content to your site regularly is a great way to improve your search engine rankings. This is because fresh and new content makes your site appear more relevant to search engines. Having new content also makes your site seem more relevant to users, which will increase the chances of people linking to it, which will also improve your search engine rankings.
A good way to increase search engine optimization is to make deals and get to know other websites. You should talk to the leaders or makers of other leading websites and ask if they could provide a link to your website. In return you should do the same thing.
To make sure every page of your site is indexed by search engines, do not use Flash in the site's design. Flash does not allow individual pages to be linked to, which means that search engines can't crawl them. A separate link for each page will allow all your content to be indexed and found through search engines.
Publishing articles is a great way to expand your internet presence. When you publish articles, you increase your search engine visibility, which, in turn, brings more visitors to your site. Additionally, the articles that you publish also help inform your consumers about your products in a way that may get you more buyers in the long run.
Make your website URL more SEO-friendly. Incorporate some or all of your keywords in your site address, like "www.mysite.com/antique-book-store". This will help search engines find your site. Also, use hyphens rather than underscores because hyphens count as spaces but underscores do not. But don't do it too much; having multiple dashes make your link look like spam and people might not click on them.
Make sure that the text on your website is not too large. Large text usually will take away from the look of your site and appears very elementary. Try to stick to size 12 font that is clear and very easy to read. This will help to yield happy customers.
Hopefully the tips above have given you some SEO techniques that you can implement immediately to get your website a higher search engine results page (SERP) rank. Or, perhaps the tips have helped you to decide that SEO is not for you and that you need to hire a professional SEO company instead.
Game Changer is the Best Lead Generation Software
Look to affiliate marketing to generate leads and even customers. Why do all the work for leads when you can have others do it for you on commission? Affiliate programs are a very effective way of introducing your product to new audiences. In fact, you'll see a lot of content created around your product or service. That's very effective.
Look into opportunities where you may be able to pay for lead generation software. Paying for leads is not a bad thing at all. In fact there are many companies out there that can deliver you leads at a surprisingly low cost. Just do your homework before signing up with anyone. There are scams out there.
Open up your business to the world. There are events such as Doors Open at which businesses allow customers to come in and see how they work. Even if you're an architect or real estate agent, you can let potential customers in to see how organized and authentic you really are, which can generate leads.
Consider local garage sales if your business is focused locally. For example, if you run a garage you could host a table at a neighborhood sale selling tools or first aid kits. You can let people know about how honest and reliable you are face to face, increasing your reputation and generating leads.
Talk to business owners in related industries. They may be willing to share leads with you, by sending their customers your way. For example, if you own a shop where you sell balloons, talking to a florist about a joint venture is a great way to get leads from another business.
Target people seeing freebies as part of your list generating efforts. While giving things away doesn't usually make money right away for you, there will be plenty of people ready and willing to sign-up for the free stuff. Keep this list separate from your others, but include it in all your future campaigns.
Consider throwing a neighborhood party to let your neighbors know what you're up to. For example, if you are looking for leads as a dentist, you can have a barbecue and hand out toothbrushes with your number on them. If you're an internet marketer, sponsor a street fair and let the businesses there know you can do the same for them.
Consider volunteering to help build leads. Choose a group which somehow relates to your niche, such as Cub Scouts if you are a dentist or a French club if you happen to be a tutor. Volunteering shows you have a good soul and can help build a positive reputation.
Hold a party for your best sources of referrals. Make it worth their while to show up by providing great food, drinks and entertainment. If you show them you appreciate their help, they'll continue to bring you leads and you'll all end up better off for the arrangement between you.
Absolutely every site you have up, whether a blog forum or regular content page or your main site, there should be contact information, social media plugins and opt in suggestions. These need to be strategically located and should be placed on every page so that people know how they can stay connected with you.
Follow Up Using The Best Lead Generation Software
Don't forget about having a follow-up plan. Once you have the best lead generation software, it is important to remember that you need to turn those leads into paying clients or customers. Have a plan in place so that you can begin that work as soon as you get some quality leads using the Game Changer technology.
Set time every week to follow up with potential leads. It usually takes more than one touch point to turn a potential qualified lead into a real hot lead. SO after you've made first contact, set time a week or two later to touch base again. It's about frequency here to make this person into a customer.
Trade shows are a great way to generate more leads for your business. Now, keep in mind that the results aren't instantaneous and you should host a contest to keep people engaged with your brand. Overall, it provides a fresh and new approach to lead generation, and you should follow-up with interested consumers by calling them or contacting them somehow.
You need new leads for your business, and this article has focused on providing you with helpful advice concerning the matter. Now it's up to you to make it happen. Devising a solid plan is what you need to do now so that you're not finding yourself in this position anymore in the future.
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