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Revealed: How Marketing Inception and the Flywheel Concept can help your Business

Posted by garydamp

Having trouble Scaling your business or being effective in marketing?

Consider the Flywheel and Marketing Inception concepts…

OLD: Marketing funnels are a one-way street – get them in, push them through, until they consume. Nurturing is secondary and still focuses on getting the customer to spend.

NEW: Flywheels are about efficiently storing and efficiently using energy…In business, it refers to a customer-centric model where all energy is focused on the customer, long term, and how the business and can build and increase momentum serving the customer. It revolves around the customer in attracting, engaging, surpassing their needs (delight). Amazon has been touted as a great example where it is a self-perpetuating machine with one thing feeding another always focused on the customer experience and ease e.g. platform to sell products, create products, fast delivery, returns, great experiences lead to more products and more sales, leads to acquisition and expansion… the machine grows and feeds from itself like a tornado gathering momentum. It creates momentum with customers that sustainably increase their Lifetime Customer Value (LTV) to the business through increased purchases and transactions

Marketing inception is a term to describe how the core offering has all components you need for marketing contained within your product offering. Each part or component can tell one part of the story, each part can generate specifically focused leads that fit into a bigger scheme. The benefit is there is rarely one Avatar for a business. Yet many campaigns focus on one holy grail. Inception allows access to all avatars or target audiences and uses singular components or specific messages to address individual pain points or multiple problems of assorted audiences.

All marketing is therefore focused, efficient and the lead costs are reduced. It is great for an ascension model where things are sold little by little and escalated to your big offering, however, it can also work directly with descending models because you can engage audiences at all levels of the spectrum without compromising one offer over another.

Combining the Flywheel and Inception models is a powerful way to scale and efficiently market. It all revolves around your customer. Yes…that old chestnut!

See more at www.advancedbc.com.au/guidedtour


REVEALED… 13 BUSINESS EXIT FAILURES

Posted by garydamp

Businesses are historically not good at mastering their own exit strategy or navigating the sale process. They simply are not prepared mentally themselves or physically with the business requirements. Many stay trapped and have to walk away, close the doors of their business. It doesnt have to be this way!

Internationally there are a massive amount of business owners that will be looking to retire over the coming years.

In Canada, within the next 15 years, over half the small business owners will retire. In the US 12 million Baby boomers who own businesses will look to retire. In Australia, over 35% of small business owners are over 50. Collectively they control trillions of dollars.

If you are looking to Exit your Business then avoid these Failures:

Mistake 1# Failure to maintain confidentiality


Mistake 2# Failure to continue to run your business


Mistake 3# Failure to use proper negotiating techniques


Mistake 4# Failure to secure qualified buyers


Mistake 5# Failure to progress the deal


Mistake 6# Failure to place the proper value on your business


Mistake 7# Failure to properly structure the deal


Mistake 8# Failure to prepare due diligence


Mistake 9# Failure to market the sale


Mistake 10# Failure to get the right advisory team


Mistake 11# Failure to properly package your business


Mistake 12# Failure to control the Deal

Take notice of these mistakes and you will be well on the way to navigating through your Business Exit hurdles. Have these mistakes handled and make your Sale stick, attract the right buyers,and enjoy the next phase of life

Want more? Go to https://lnkd.in/gUffKBk


THE TOP 17 SALES SKILLS IGNORE AT YOUR PERIL

Posted by garydamp

Here are 17 tips to become a world class salesperson:

  1. Get skilled – Learn to sell and present. Get educated now and ongoing (increases sales by 50%)
  2. Have a ‘magic number’ of calls and follow-ups
  3. Track your activity – in your CRM
  4. Have multiple sales offers – Premium offer, Up-sell, Cross-sell, Down-sell, and bundles.
  5. Be consistent – cold calls take on average 8 attempts
  6. Are the calls prioritized e.g. cold calls on Thursdays then Wednesdays, between 4 pm and 5 pm)
  7. Time management – call in 45 minute sessions
  8. Research before your call
  9. Listen to the client – You will stand out
  10. Follow Up – 80% of sales require 5 follow-up calls.
  11. Challenge the client it sells, farming doesn’t
  12. Tell more stories – Only 5% retain facts
  13. Respond quickly – 30-50% of sales go to the vendor that responds first
  14. Never discount. It’s lazy. Instead, have alternate offers and bundles
  15. Give the customer the next steps. If you cant help refer them
  16. Patience – only 2 % of buyers purchase immediately
  17. Pause when asking key questions or for the sale

Implement these steps to excel at selling and contribute massively to sales revenue.

Go to www.advancedbc.com.au/guidedtour for more
#sales #businessgrowth #salesskill


THE TOP 17 SALES SECRETS

Posted by garydamp

Sales are referred to as a numbers game.

Business is really about maths and knowing your numbers. Sales also reflect this and also the culture and leadership of a company.

Focusing on the right things can make a big difference in increasing your conversion rates, the number of transactions, the Average Sale Value, and margins. 92% of customer interactions happen over the phone.

 

Empowering the sales team

Sales teams need good training, good presentation skills, and the right offers to present to prospective customers. Did you know 99% of businesses are not clear on their market-dominating position? This unique difference is part of the culture and ethos the sales team will reflect on your clients. Do you know the Break-Even of your Sales Offers? Or the dramatic impact of any discounting on your gross profit?

                                 Sales success!

Here are some specific things to do:

  1. Get skilled – Learn to sell and present. Get educated now and ongoing (increases sales by 50%)
  2. Have a specific ‘magic number’ of calls and follow-ups to be made in a month, broken down to weekly and daily amounts
  3. Track your activity – if it can be measured it can be managed. Accurate information in your CRM for follow up actions, campaigns, and deal progression
  4. Do you have multiple sales offers – a premium offer, Up-sell, Cross-sell, Down-sell, and bundles. Don’t get cornered with an objection and one offer.
  5. Be consistent – cold calls take on average 8 attempts
  6. Are the calls prioritized for the job – cold calls and prospecting Thursdays then Wednesdays, the best times are between 4 pm and 5 pm)
  7. Time management – break the call sessions into 45 minute blocks then check emails, etc
  8. Do some research before your call – out of respect and to gain insight for better conversations
  9. Listen to the client – You will stand out
  10. Follow Up – 80% of sales require 5 follow-up calls. 44% of sales reps give up after one follow-up.
  11. Challenge the client (higher conversion rates) on their thought or belief process. Challenging sells, farming doesn’t
  12. Tell more stories – Only 5% retain facts, stories are king
  13. Respond quickly to requests, leads, and inquiries – 30-50% of sales go to the vendor that responds first
  14. Never discount. It is a lazy culture, drastically impacts your gross profit. Instead, have alternate offers and bundles.
  15. Take the customer on a journey always with the next step. If you cant help then give them an alternative.
  16. Closing the deal – only 2 % of buyers purchase immediately the rest will need education and nurturing till they are ready.
  17. Pause when asking key questions or for the sale – silence elicits a response
  18. Drip Campaigns – all client contacts into a systematic routine to stay in touch and ‘top of mind’ with the customer

 

By implementing these sales tips you are on the way to being a world-class salesperson and becoming a valuable contributor to a company’s revenue capability. Your worth has also just increased

 

Go to www.AdvancedBC.com/wrong for more insight or take a look around my e-learning system for a world-class education at www.AdvancedBC.com.au/myguidedtour

 

 

 


MANY SALES STATISTICS ARE WRONG!

Posted by garydamp

The Brevet Group published 21 Mind-Blowing Statistics that challenged the ‘unknown’ and much-quoted National Sales Executive Association figures (pictured)

Brevet Group challenged the National Sales Executive Association invalidated figures….

Have a look at the insights this data provides…..IT’S SALES GOLD!

  1. 92% of all customer interactions happen over the phone.
  2. It takes an average of 8 cold call attempts to reach a prospect
  3. The best time to cold call is between 4:00 and 5:00 PM
  4. 30-50% of sales go to the vendor that responds first
  5. 80% of sales require 5 follow-up calls after the meeting.
  6. 44% of sales reps give up after 1 follow-up.
  7. Thursday is the best day to prospect. Wednesday is the second-best day
  8. Nearly 13% of all the jobs in the U.S. (1 in 8) are full-time sales positions.
  9. Over one trillion dollars (that’s nine zeros) are spent annually on sales forces.
  10. In a typical firm with 100-500 employees, an average of 7 people are involved in most buying decisions
  11. 78% of salespeople using social media outsell their peers.
  12. Email is almost 40 times better at acquiring new customers than Facebook and Twitter. 
  13. Salespeople who actively seek out and exploit referrals earn 4 to 5 times more than those who don’t
  14. 91% of customers say they’d give referrals. Only 11% of salespeople ask for referrals.
  15. Only 13% of customers believe a sales person can understand their needs.
  16. 55% of the people making their living in sales don’t have the right skills to be successful
  17. Continuous training gives 50% higher net sales per employee.
  18. The average company spends $10K – $15K hiring an individual and only $2K a year in sales training.
  19. It takes 10 months or more for a new sales rep to be fully productive
  20. Retaining current customers is 6 to 7 times less costly than acquiring new ones.
  21. The average company loses between 10% and 30% of its customers each year.
  22. After a presentation, 63% of attendees remember stories. Only 5% remember statistics

The data tells a story. Get busy and exploit the gaps in the trends

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www.advancedbc.com.au/wrong