Don't Bite Off More than You Can Chew
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Transcript of Don't Bite Off More than You Can Chew
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Don’t Bite off More than You Can Chew
Jim Eggleston
Don’t Bite Off More Than You Can Chew
Rich 115 via flickr
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Session Framework
•Small business advantage.
•Perfect the approach and offer.
•Formula for success.
Session Framework
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•Cole Directory published in 1947.•Crisscross directory of addresses & phone numbers.•Invaluable information for a number of industries:
•Telemarketing•Debt collection •Law enforcement
•Today, web-based lead generation for businesses.
Background
Jack Cole
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Features:• Webinars• Articles• Blog• Resources
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Small Business is Big Business– *23 million small businesses= 54% of U.S. Sales
*business.gov
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Small Business Benefit
• You know: – Your local market area– Your customers preferences– Your product
• You have the power:– To adjust your marketing
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Big Business Issue
• They don’t know: – Your local market– Your customers preferences
• Focus groups determine:– Customer needs– Generic offers
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3 Components of Success
• Referral Marketing:– Engage with your best customers
• Start off small: – Don’t bite off more than you can chew
• Test, measure, test, measure, repeat
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• Reasons to call:– Birthday– Anniversary– Policy renewal or recent order• Thanks for your business• Build customer base with friend referral
Referrals
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Thecrazyfilmgirl via flickr
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• Spend 15 minutes:– Come up with approaches & offers– Write down a script
• Considerations:– Time of year?
Referrals
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Approach and Offer
–Introduction:• Be clear – Hi I’m Lora Ullerich, your local (business/service
provider)
• Stress local – Differentiates you from those UNKNOWN callers
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Approach and Offer
• Approach:– “I just wrote a new policy for Bob Smith and was
able to save him a bunch of money on his homeowners insurance.”
• Alternate: – Bob Smith is a good customer of mine and gave
me your name– Your neighbor Bob Smith recommended that I call
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Approach and Offer
• Offer:– I would like an opportunity to quote on your
homeowners insurance to see if I’m able to save you money like I was able to for Bob?
– Could I set an appointment to stop buy and prepare a quote for your homeowners insurance?
– Is there a better time I can call and ask questions to prepare a quote on your insurance?
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Once again, track and measure
Again, Track & Measure
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Referral Campaign Benefits
• Working referrals= Revenue Generator– This approach will make you more successful at
working renewals
Plus
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Referral Campaign Benefits
• It creates a sound foundation for success at the next level in direct marketing.
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Finally, what I came to hear about….
Marketing
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Not so fast!
D’Arcy Norman via flickr
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Marketing
• If you:– Don’t do your homework– Don’t know which approach and offer works best– Buy a list, pick a postcard with a pretty picture and
mail it to everyone
You’ll fail every time.
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Marketing
Once you know the approach and the offer…
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Market to Prospects
• Don’t leave this to chance• Consider your 10 BEST customers:– Age– Home worth– Length of residence– neighborhood
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Market to Prospects
• Clone those characteristics into a list• They’re your best prospects!
–Not 10,000 or 5,000 or even 1,000. –Choose the top 200
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• Start by:
–Make 10
calls/day
–Pace yourself
–What's working?
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Marketing
• 20 days later:– What’s working? What’s not?– Who’s agreed to a quote? who hasn’t?– Who’s your best prospect really?
• Now ramp up: – Incorporate best approach – Download 400 best prospects
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Direct Mail
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Direct Mail
• Choose a provider carefully – Vista Print– PostcardBuilder.com– Sharper Agent
• Create custom prints postcards – Mimic your successful prospecting calls
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Direct Mail
• Start off small:– mail 50 postcards/day– Print labels from your computer
• Don’t forget!– You’re still making your 20 phone calls/day
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4 Action Points
• Start small– Marketing should be self-funding
• Local presence– Nothing beats local
• Track everything you do• Do more of what works