You Had Them At Hello!

I have a workout strategy before each officially timed running event (you can't be surprised!). 

The tactic is to walk the anticipated time that the race will last...in this case 2 hours for the half-marathon...8 miles.

So this gloriously beautiful Saturday morning, I began a 4 mph (again, my strategy and tactic!) walk in a business area that has a network of sidewalks.

 

I was getting into the music on my I-Pod... Old school... Gap Band, Wild Cherry, the Bee

Gees (hey, the post folk singing Gibb brothers are funky!)...lets just say I have a very eclectic mix!

 

At one point, "Boogie Nights" from Heatwave came on and I was jamming and hitting the air drums.  I lifted one hand high in the air to hit the" crash cymbal" and it must have looked like I waved to a passing car...

How do I know?

 

The woman smiled and enthusiastically waved back!

 

Sure... she might have been waving at the strikingly handsome man in a somewhat tight Under Amour shirt with shades...

I couldn't be sure.

So guess what I did?

I waved at the next car...a young man on the phone... guess what he did?

 

He waved back too!

 

You know me...for the next hour, I randomly waved at over 100 cars! 

Since that is a statistically relevant group here are my results;

More than 90% waved back... most smiling... some honking...a "cowabunga" and "Freebird" hand signal... and yes...

2 One-Finger Salutes! (Hey, I must have looked crazy... I didn't take it personally!)

It confirmed something about people... we all love a good "hello".  It is the ultimate icebreaker, the deal maker...utilized by movers and shakers!

"Hello" is how a painfully shy Brandon met a strikingly beautiful Natalie while "strategically" tying his shoe in front of her 3rd period class.

With the success of my "waving" experiment, I have one for you tomorrow...

Call 10 of your clients and just let them know you were calling to say "Hello"...

Some will be surprised (but happy!) some will say "we were just talking about you the other day", and some will have to be reminded who you are.

Matters not...10 people

My guess for your results?

Just like my legions of new fans on Hudson Bridge Road in McDonough, GA...and Tom Cruise in Jerry Maguire...

YOU WILL HAVE THEM AT HELLO!

 

Until tomorrow, I wish you Money, Power, Success!

A Miss Is As Good As A Mile!

I know you are happy there are no charts on the Daily Crumbs today!

  

However, there are two numbers we need to discuss...

  

13.1

  

26.2

  

For the runners in the crowd there is no mystery...these are half-marathon and marathon mileages.

  

I am running my first marathon tomorrow...

  

Correction...I am running the half-marathon tomorrow.

  

What happened Brandon?   Cold feet...chicken out...what?

  

Let me explain.

  

I set an objective to run a marathon this year and complete it in under 4 hours.  I have been running seriously about a year and have run two half-marathons at a pace that would indicate I could do it.

  

My strategy was to schedule the earliest marathon that made sense in the year.  I also downloaded anbapp called Runmeter (remember my Blackjack app?  These things are great!) to log my miles and keep me on track for training.

  

Tactically, I run 4-5 times a week with my long run on Saturday...

  

I had made it up to 17 miles and then the weather took a turn.  Georgia has had rain, sleet, and really cold weather that made my critical long Saturday runs difficult.

  

Two weeks ago, I asked myself two questions...

  

Can I finish a marathon?

  

Can I do it in under 4 hours (A little over 9 minutes a mile)?

  

First answer...yes...second one...

  

NO!

 

I had two choices...

  

I could run the marathon and be that guy that crossed in 5 hours hobbling

 

or

 

I can treat the half-marathon like a long Saturday run and live to fight another day.

  

Ever watch Fear Factor with Joe Rogan?

  

I cringed each time someone would begin eating pig eyes, get 70% of the way through and then yell, "I can't" two eyeballs from victory!

 

In my case..."A miss is as good as a mile!"

 

Wish me luck...  

  

Until tomorrow, I wish you Money, Power, Success!

Four To Go!

 

Happy Friday!

 

One for the money...two for the show...three to get ready...four to go...or alternatively...

  

Go man (woman) go! 

  

That's what I want you to do...Go...Go...Go!

 

As we "go deeper" into your business (hey, you are running a business now - congratulations!) let's look at how one more level of sales effectiveness can impact the results.

 

Where does that 4th sale come from?

 

We can't reasonably expect the response rate to exceed industry standard...

that is not sustainable over the "scientific" long haul.

 

We can't reasonably expect to set 100% appointments from the leads that come in...

even I am not that good!

 

We could push closing rate metrics but in the "wide net" of direct mail, we have shoppers,

tire kickers and unqualified people...

  

No, with our current 45% close rate from this medium...you are doing great!

 

You need to get better at  ONE THING that can change EVERYTHING...

 

You will get better at asking for and getting REPEAT BUSINESS AND REFERRALS!

  

We will deal more in Daily Sales Crumbs with the techniques for both, but for now, let's just "dream" about how ONE REFERRAL out of three sales would impact our bottom line;

  

  

Activity	Metrics	Terminology	Analysis
Cost of Direct Mail	$400	Acquisition Costs	Same
# of pieces	1,000	Reach	Same
Response Rate	1.1%	Response Rate (RR)	Same
Number of leads	11	Leads	Same
Appointment Rate	65%	Lead to Appt Conversion Rate	Same
# of Appointments	7	Opportunities	Same
Closing Rate	45%	Conversion Rate	Same
# of Sales	4 3 Direct Marketing 1 Referral	Closed Won	Cost Per Sale 400/4 = $100.00 CPS
Gross Revenue	$1,600	Gross Revenue before costs and expenses deducted	# of Sales x Commission  4 sales x $400 = $1,600 GR
Operating Revenue	$1,200	Revenue generated - Cost of Acquisition	$1,600 - $400 = $1,200 OR
Return On Investment	$1,200 or 300%	Return On Investment	ROI = Acquisition Cost/Operating Revenue $1,200/$400   300% ROI

 

  

Can you see the genius in this?

 

I know there are some of you saying, "This works for other sales people, but won't work for me."

 

Nothing could be further from the truth...take it from me...you can do this and get even better results...

 

I have met, trained, counseled, mentored, emailed and shook the hand of over 40,000 sales professionals in my 30 years...

 

Not one of them was better than you!

 

The differences reside in drive, ambition, creation of and adherence to Objectives, Strategies...and Tactics...

 

Hey, that reminds me...

 

Until tomorrow, I wish you Money, Power, Success!

Three To Get Ready!

have an expression that I coined (yes, I have a lot of them!) but this one fits our last few days...

 

"Smart skims the surface...but genius goes deep"

 

You can use that one freely...just give me quotation credit!

 

Notice I say that smart people skim the surface.

  

If you are successful in sales you are smart!  If you are able to meet your financial obligations by "the sweat of your brow" then you are already above average...smart.

 

Smart comes from attention, study and experience.  Some of it text book...some comes from the school of hard knocks...anybody feel me?

 

Genius comes from enlightenment.  A revelation.  An inspired thought that takes everything you have experienced and "elevates" it to a higher level. 

  

It shows you a new and better way...genius!

 

Smart people earn good livings, but geniuses get rich!

  

Now I have your attention...right?

  

Now that we are focused on the metrics of sales and marketing what if you could get a little better in a few categories...

  

What if you could become a sales and marketing genius...on your level?

  

How would that change your business?

  

Imagine, if you closed one more sale in our scenario, you would generate THREE SALES...

  

How would that impact your results?...let's take a look (improvements in black - for profit!!!);

  

  

Activity	Metrics	Terminology	Analysis
Cost of Direct Mail	$400	Acquisition Costs	Same
# of pieces	1,000	Reach	Same
Response Rate	1.1%	Response Rate (RR)	Tweaked the income metrics for target audience a little higher
Number of leads	11	Leads	Cost per lead 400/11 = $36.36 CPL
Appointment Rate	65%	Lead to Appt Conversion Rate	Did a better job selling appt and not trying to "sell over the phone"
# of Appointments	7	Opportunities	Cost per Opportunity 400/7 = $57.14 CPO
Closing Rate	45%	Conversion Rate	Did pre-call planning for each client rather than "wing it" at kitchen table
# of Sales	3	Closed Won	Cost Per Sale 400/3 = $133.33 CPS
Gross Revenue	$1,200	Gross Revenue before costs and expenses deducted	# of Sales x Commission  3 sales x $400 = $1,200 GR
Operating Revenue	$800	Revenue generated - Cost of Acquisition	$1,200 - $400 = $800 OP
Return On Investment	$800 or 200%	Return On Investment	ROI = Acquisition Cost/Operating Revenue $800/$400   200% ROI

 

  

All it took was THREE TO GET READY...

  

That would make you TWICE as PROFITABLE!!!

 

Excited about the possibilities...want more...?

 

You guessed it...let's get FOUR TO GO!...

   

Until tomorrow, I wish you Money, Power, Success!

Two For The Show!

I remember as a child putting a lima bean in a wet towel and waiting to see what would happen as part of a science project.

  

Bet you had to do the same thing as a young student?

  

The first few days...nothing...

  

but then you would see the lima bean split...then a little green shoot would come out...exciting stuff!

  

Then we transplanted the little bean into a larger environment of a Styrofoam cup of dirt and watered, watched...and waited.

 

Eventually a stem would grow out of it and when it fully matured...a pod.

  

Imagine splitting that pod open and only finding ONE LIMA BEAN inside!!!  No one plants a seed to only get one seed back...what a waste of time and energy!

  

You should be no different with your Lima Bean of marketing.  You should be getting a true Return on Investment (ROI) not just Breaking Even...

  

Let's get more technical on our results from yesterday;

  

Activity	Metrics	Terminology	Analysis
Cost of Direct Mail	$400	Acquisition Costs	All costs related to getting a sale
# of pieces	1,000	Reach	# of pieces and demographics of target audience
Response Rate	1%	Response Rate (RR)
Number of leads	10	Leads	Cost per lead 400/10 = $40 CPL
Appointment Rate	60%	Lead to Appt Conversion Rate
# of Appointments	6	Opportunities	Cost per Opportunity 400/6 = $66.67 CPO
Closing Rate	30%	Conversion Rate
# of Sales	2	Closed Won	Cost Per Sale 400/2 = $200 CPS
Gross Revenue	$800	Gross Revenue before costs and expenses deducted	# of Sales x Commission  2 sales x $400 = $800 GR
Operating Revenue	$400	Revenue generated - Cost of Acquisition	$800 - $400 = $400 OP
Return On Investment	$400 or 100%	Return On Investment	ROI = Acquisition Cost/Operating Revenue $400/$400   100% ROI

 

Ok, some of you have zoned out...some of you need an aspirin!

  

Some of you need to stop scrambling to produce sales and start Running A Business!!!

  

This is what business owners and CEO's do...They run a business!

  

No, I am not angry...just emphatic!

  

While the terms used above may differ depending on the source you cite, these are all the metrics that are required to understand the efficiency and effectiveness of your precious marketing dollars and also Your Effectiveness at managing, monitoring and closing them!

  

Oh yes...back to the Lima Bean. 

  

When you shuck that pod you expect to see at least two lima beans in it or you would consider it "defective"...right?

  

After you do all the things necessary to create a "one for the money" proposition...

 

What is the single greatest thing you can do to increase your Return On Investment in the scenario above?...

  

GET TWO FOR THE SHOW!...

   

Until tomorrow, I wish you Money, Power, Success!