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What Kind of Database Do You Have Now? Your hopper or database is a real thing, and extremely valuable. It is a simple index card in a cheap box or a computer database such as Access or Goldmine (why do you think they call it “Goldmine”). If you were able to add five new names a day you will hit pay dirt. After a year you would have 5 times 365 days or 1825 names to contact. No matter how many you end up getting each week you need to do this (adding new names to your list) week in week out over and over again. It is very productive to fill up your hopper. No successful company can get very far without it. A new name is not a sale but it is your first step toward a sale. Many times a small business owner sets out to get sales now because he needs them now, and is very discouraged when he does not achieve this and get the sale right now. He is sometimes so discouraged that he will not even keep the names that he collects, let alone continue to promote to them. This is a mistake. It is vital to collect names and to continue to nurture them by communicating to them regularly. You should set goals for the number of new names or identities that you collect each week and know that those names are your future business. Measuring What You Do Before we get into the specifics of what to do to promote your business and the different ways that you can fill up your hopper, we want to go over the importance of measuring everything that you do. On each separate promotional action that you do, keep accurate records on how many you do and what the results are. When someone says it comes down to a numbers game that means for every sale you make it takes a certain number of presentations and for every presentation it takes a certain number of phone calls and so on. For example: • It takes 3 presentations to sell 1 pond or paving stone driveway • For every presentation you need to contact 2 people interested in your ponds or driveway before you can get 1 to agree for you to come to their home to give them an estimate • You dial the phone 5 times and leave 5 messages before you speak to someone • 10 phone conversations to get 1 person interested Let’s also assume your average pond sale is $10,000. Now let’s follow that through with real numbers. Assume that your hopper is filled with people that have some degree of interest in a pond or driveway. Dials - 60 Results in 12 people contacted Results in 6 people interested in a pond Results in 3 presentations Results in 1 sale worth $10,000 Now do the math; $10,000 divided by 60 calls equals $167 worth of sold jobs. By that math every time you dial the phone you will be making $167 worth of sales!!!!! I’ll guarantee that if someone was handing you $167 for every phone call that you made you would be doing a lot more phone calls than you are making now!! But if you really believe and understand this it will be the same as $167 a dial or whatever the numbers turn out to be for your business! This is a vital concept to get. It is what all successful marketers do and apply at some point in their careers. Where do these people come from? Your hopper of course, so you see the importance of filling up this hopper and doing actions that fill it up. It is vital that you not only do these things but you set targets on how many you are going to do. Rule 10: Work backwards from the final sales and there will be early actions that can always be done that can be targeted and measured and are easier to confront. Drill: What is your average job size? Work out your own ratios. Dials ______________ Result in a person Contacted ______________ Results in people interested in ponds ______________ Results in Presentations ______________ # Results in Sales worth $__________ Divide the number of dials into your average sale: ____________________ How many dials could you do in an hour? ___________________________ How much would you make an hour? _______________________________ OK I’m ready to go!
Article Source: http://blisspublisher.com
Terry Morrill is CEO of Pacific Outdoor Living Pro Division (www.pacificoutdoorlivingpro.com), a distributor of Aquascape pond equipment and products, and a distributor of quality interlocking concrete paving stone products. The company is located in Sun Valley, CA. Pacific Pavingstone (www.pacificpavingstone.com), also owned by Terry Morrill, has twice been listed on the Inc. 500 list of the fastest growing companies in America, and this year is listed on the Inc. 5000 list. California Waterscapes (www.californiawaterscapes.com) is the largest designer and installer of commercial and residential ponds in the U.S.
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