Posts Tagged ‘MSP sales’

Using Marketing Math To Hit EVERY New Year’s Goal You Set For Yourself With Certainty

Posted On January 9th, 2019

Of the four M’s of marketing – Market, Message, Media and Math – the one that many don’t like is the math. Marketing is, at its core, applied psychology plus math; you can get the psychology side really, really right (offers, message, USP, etc.) but totally and completely miss your mark if the numbers side of the equation doesn’t add up; and since the New Year is when most people are setting goals for themselves, you MUST know the MATH side of the equation or you’ll frustrate yourself (and your staff) by constantly falling short of goals – and it’s VERY demoralizing for a leader to constantly set goals they don’t hit. Not knowing marketing “math” also makes it impossible to manage new sales reps, because you won’t be able to work backwards from their goal to tell them how many activities (calls, connections, appointments, proposals, etc.) they will need to conduct to hit their quota; worse, you won’t know if they HIT or MISSED their quota until it’s too late to do anything about it.

Example: A client calls in and wants to know if sending 50 Bad Date letters a week is “good.” I can’t say if it is “good” or not without knowing his specific goals. If he wants to add $1 million to his business and the average client is worth $2,000 a month, then JUST sending 50 Bad Date letters a week is NOT a sufficient plan. At $2,000 a month, he’ll need approximately 42 clients. If his close rate is 30%, he’ll need 142 proposals generated; if 50% of all leads generated are not qualified, not ready to buy now and don’t move to an appointment, he’ll need 284 leads per year and about 7,100 prospects to target per quarter if we assume an average 1% response rate to the campaign each time it’s sent (284 ÷ .01 is 28,400, then divide again by 4 to assume we remarket to that same group every quarter with a different type of lead generation campaign and offer). Based on HIS SPECIFIC GOAL, he would have to send out 546 Bad Date letters per week to hit $1 million in net new business that year if that’s ALL he was doing AND if his goal was to add $1 million in revenue with an average price point of $2,000. Read full article and comment →

Where Does Your Marketing Become Counterproductive?

Posted On December 26th, 2018
This is a discussion I had with a client, paraphrased, that I just had to share. It went something like this…

I’m signed up here but I have to tell ya, I really don’t like marketing and I have a lot of issues with it. I hate being “marketed” to.

I screen all telemarketing calls and never call them back. I filter all promotional e-mails into the trash bin, and I use a free, throwaway e-mail anytime I sign up for something.

I also hate using tacky gimmicks like charging $9.95. It’s TEN BUCKS!

Or using deadlines and testimonials and big promises. It all seems so hokey to me. BUT I desperately need to grow my business and generate more sales.

I’ve been doing this IT work for almost 30 years, I’ve never generated more than $300,000 in sales and I’m exhausted. If I don’t figure this out, it’s gonna kill me. I hope you can help.

Geez. Outside of that, Mrs. Lincoln, what didn’t you like about the play?

I give the guy credit because he’s aware and willing to admit he needs help with the head trash holding him back.

Further, I know there are a LOT of people who think and feel the way he does, but just won’t admit it OR they won’t allow themselves to see how it’s holding them back in business. Doing so would require them to change and actually DO marketing, which they simply cannot bring themselves to face… Read full article and comment →

How To Put More Jingle In Your Pocket By Staying In Touch With Your Clients

Posted On December 12th, 2018

Money In Your PocketI have emphatically stated and long taught the importance of FREQUENT and MEANINGFUL communication with your clients as well as key strategic partners and centers of influence (association directors, sponsors, referral partners, etc.). Practically every business I know fails to do this effectively, some more than others. The best way to communicate, I believe, is a well-written MONTHLY newsletter that is printed and MAILED, but I’m constantly fighting the quarterly or biannual newsletter, or the desire to simply e-mail it to everyone. I DON’T recommend either of these approaches because 1) in order for it to be a publication clients look forward to getting, it must have frequency, and 2) e-mail is a very unreliable way to get your marketing out, with as many as 80% of recipients never seeing it, much less opening it and reading it. You also cannot replicate the feel of getting and opening the printed newsletter – and that TANGIBLE communication matters a great deal. Read full article and comment →

Why You Shouldn’t Fear “No” When Selling IT Solutions

Posted On November 28th, 2018

Neon SignHere’s a question I received from a client that I get some version of FREQUENTLY:

“Once I get the contact on the phone, say the CEO, he or she will usually say, ‘Yes, I got your information and passed it on to my IT department.’ For me this is like being placed in the Bermuda Triangle, because the IT person usually never returns calls. I am sure they fear losing their job or getting in trouble. It is nearly impossible to get a call or e-mail back. I do try the recommended Robin Robins comeback, ‘Great, we deal with a lot of customers that have internal IT folks, but what we would like to talk to you about is a third-party validation of the security and stability of your computer network. We don’t always find something wrong, but often we’ll uncover a few areas that are not being secured or maintained as well as they should.’

I have had success with one prospect with this come­back but most of the time I feel they are so hesitant because they do not know who we are, even after dripping – there is probably a trust issue. I am hoping you can maybe advise or others can share their experience in handling this scenario. Thanks…” Read full article and comment →

How To Keep The “Hidden” Decision Maker From Cooking You Like A Thanksgiving Turkey

Posted On November 14th, 2018

Wives Testimonial CoverOne of the most productive and useful things you can do to work on your marketing and sales for your IT business is NEGATIVE PREPARATION: think of every reason a prospect won’t buy – every obstacle, concern and issue that causes anxiety – then go to work in preparing your process to address it EARLY and, ultimately, address it, minimize it and hopefully eliminate it.

An excellent example of this is a new piece we’ve recently added to all Accelerators Club welcome kits to address a COMMON objection/hurdle we must overcome: the wife of the guy who comes to the seminar, signs up for Accelerators and then has to go home and tell her that he just spent a few thousand dollars on a marketing “seminar.” Often (but not always) the wife is not too happy about it. She may have experience with him buying other “self-help” programs, memberships and marketing only to come up with zeros, so her confidence in marketing and, candidly, her confidence in HIM is low. Therefore, she ONLY sees the money that won’t be going to a new remodeled kitchen, a new car, a vacation, etc. I appreciate their concern. They often don’t know anything about me, much less about marketing. They have no experience with my organization and they haven’t sat through the “pitch” to see what they are getting – and that’s EXACTLY why we need this piece and why YOU need a similar one as well for marketing to your MSP clients. Read full article and comment →

A Big, Misunderstood Secret To Premium Pricing In Your IT Services Business

Posted On October 3rd, 2018

Tips on how to charge a premium price for your IT Services Business.When you want to show how filthy rich and successful you are, details matter. That’s why you need to have gold-plated staples, sold in packs of 24 for $175. Or how about a Tiffany tennis-ball-canister … for $1,500? And if you really want to show off on the courts, you can hydrate yourself with a $60,000 bottle of Icelandic glacier water that has been mixed with 5 milligrams of real gold dust. ALL of these are real products that people really buy.

Begs the question, how in the hell does someone get away with what is clearly a ridiculous fee for such “ordinary” items? Hint: it’s the secret to selling ALL premium-priced goods and services. It’s NOT about the thing, but what owning the thing gives you. What most people don’t understand is that it MUST be “ridiculously” expensive to increase its appeal. That’s part of what they are buying – the story they can tell, the exclusivity and the bragging rights. There is a global belief that quality and high price go together – so if you are going to SAY you’re the “top quality” IT firm above all your competitors, you must charge more for the story to ring true. Read full article and comment →

Increase IT Services Sales By Making It Easier To Buy

Posted On September 19th, 2018

Easier To BuyOne night in 1936, Sylvan Goldman, owner of the Humpty Dumpty supermarket chain in Oklahoma, sat in his office trying to figure out how to get customers to buy more groceries. Observing clients as they shopped, he noticed that many of them were struggling to carry the normal shopping basket provided, particularly the moms with kids. Once they got to their limit of what they could carry, they stopped shopping. That’s when he came up with the idea of the first shopping cart with wheels.

At first, the idea was not well-received. Men found it effeminate and women thought it was suggestive of pushing a baby carriage. One woman angrily told Goldman, “I’ve pushed my last baby!” To combat this, Goldman hired a number of male and female models to “shop” and push the carts around, as well as having greeters who welcomed shoppers and explained how the carts were to be used. From this little invention, Goldman became a multimillionaire. Read full article and comment →