Archive for the 'Virtual Business' Category

How To Use The Prospect Scorecard iPhone App

Prospect Scorecard iPhone App

A Simple & Easy Way to Track Prospects

The Prospect Scorecard provides a simple and easy system to qualify, track and rank their best prospects. Salespeople or any business person trying to close business, often refer to prospects in vague terms such as: new, warm, hot, cold, likely, qualified, etc. These terms do little to better understand a sales pipeline or convey likelihood of purchase to other members of the team. The Prospect Scorecard resolves this issue, simply, quickly and easily. How do you use the Prospect Scorecard iPhone App?

On your iPhone or iPod Touch, create a list of the ideal attributes for your top prospects. This might include business type, revenues, location, employees, type of workforce, etc. These attributes are called your Prospect Score.

Prospects: On your smart phone or iPod Touch, create a list of the ideal attributes for your top prospects. This might include business type, revenues, location, employees, type of workforce, etc. These attributes are called your Prospect Score.

Demographic Information: Click on the + button and add the demographic information about each of your best prospects.

Prospect Scores: Click on the Scores button to check off each attribute to determine if your prospect is an in profile prospect. For example, if you have 10 attributes and your Prospect Score is an 9, you have an excellent, in profile prospect. The attributes can be edited and customized for your business.

Quality Score: The Quality Score is an acronym you can create for your business to better qualify if your prospect is likely to buy. Let’s say your acronym is BUD which stands for Budget, Urgency and Decision Maker. If you have all three of these criteria, you have a high quality prospect. If the prospect has a high Prospect Score and a high Quality Score, you have an in profile prospect which is very likely to buy.

The App makes it easy to retrieve, sort, add, delete and rank your prospects, changing the way you manage and quantify your pipeline.  For more information on the Prospect Scorecard  go to Prospect Scorecard for iPhone. For information on web selling tips, go to Sell More & Work Less. For Web Marketing best practices go to StartUpSelling for Insurance Agency Marketing or JurisMarketing for Law Firm Web Marketing.

Going About Your Business The Old Fashioned Way – Even The IRS Is Leaving You Behind

Your Virtual Success

IRS Goes Virtual - Your Virtual Success

Even the IRS, a bastion of bureaucracy,  has realized the future needs to be virtual as they test video-conferencing for tax audits. This seems like a very logical and more efficient method for the IRS and reminds me of a discussion I had recently with a CPA. He had expressed surprise that an IRS auditor drove an hour to visit him, to ask a few simple questions about one of his clients. These questions were readily addressed in 5 minutes (literally), and the tax man then got back in his car, and drove an hour back to his office. Had this been a web meeting or two-way video conferencing call, the tax man would have saved 2 hours and plenty of gas.

As reported by Blake Ellis on CNNMoney.com today, “In what could be an indication of things to come, the IRS launched a pilot program at the end of last year that allows taxpayers to use two-way video conferencing for assistance with tax questions and problems. The Taxpayer Advocate Service, an independent watchdog arm of the IRS, is already calling for the agency to expand to virtual audits. The IRS says it needs to evaluate the success of the pilot program before making a decision. The pilot program is currently being tested in 12 locations, where taxpayers needing assistance can log into a computer enabled with video-conferencing.”

So, if your business has yet to embrace web meetings, video conferencing and webinars over seminars, you may be in danger of falling behind a true laggard, US Government Bureaucracy! When I speak with businesses who still embrace the old cold calling, canvassing, car driving, traffic jam methods of selling, I try to convey the importance of virtual business, but now I have the added ammunition that even the IRS is working on this approach. Good for them – and good for your business too.

For more information on Web Marketing go to StartUpSelling for Insurance Agency Marketing or JurisMarketing for Law Firm Web Marketing. For more information on web selling tips, go to Sell More & Work Less.

http://money.cnn.com/2012/04/05/pf/taxes/virtual-tax-audits/index.htm?source=yahoo_hosted

Sell More & Work Less Excerpt – Jumpstarting Your Pipeline

Description: C:\Users\Alan\Desktop\Sell More & Work Less\image icon 3 Globe.jpgReal-World Scenario (Excerpt from Sell More & Work Less)

About ten years ago, I helped a company develop their virtual sales and marketing strategy. Its solution, let’s describe it as a client behavioral research solution, was new to the market and required an evangelical sale. The businesses targeted for this new solution had to be convinced to take a leap of faith and try a new method to analyze their customer behavior. In addition, this method was a completely Web-based, SaaS solution. Evangelical sales are common with technology companies seeking to sell a breakthrough product (e.g., eMarketing solutions, MP3 downloads, cloud computing, electronic reading devices, and even DVRs). The first step in the process was to identify the target market and build a suspect list, just as I mentioned above. The CEO had an insurance background and landed a few insurance company clients. We decided this would be the first niche market to target. How did we build a comprehensive virtual suspect list? We utilized several top 100 industry lists and imported them into a simple Microsoft database. We searched for on-line insurance company listings and added them to our virtual suspect list. Then, we called every one of these insurance organizations (there were about 300 initially targeted). These targeted cold calls resulted in up-to-date contact information, key executives, titles, direct phone numbers, and emails. These were often gathered by offering the suspects an opportunity to attend an informational Web seminar. Within a few short months, the database was quite comprehensive, and the suspect list began to yield a compelling prospect list. Utilizing my Prospect Scorecard system and qualifying acronym, we were able to identify possible buyers, convince these buyers to review the solution in a Web seminar or one-to-one web meeting, and then move them to the qualification phase. Out of the 300 initial suspects targeted, we were able to convince over 150 to review the solution in our first year of sales efforts, and about 20 percent of them purchased within that same year. An impressive result for a self-funded, emerging operation selling 99 percent virtually, without travel or face-to-face meetings and the costs and inefficiencies associated with that model. Today, many years after we helped this client create a target suspect list, they continue to dominate their niche.  

For more information on web marketing go to StartMarketingTech, StartUpSelling or JurisMarketing.

Cloud Computing Up and Big Box Stores Down

eTail vs Retail

eTail vs Retail

Two interesting, albeit expected news reports came across my browser today. The first was about Cloud Computing, with a recent Microsoft study showing a significant increased in paid cloud computing services expected for small and midsize businesses over the next five years. As reported on PR NewsWire, “The research conducted by Edge Strategies includes survey responses from IT decision-makers or influencers at more than 3,000 SMBs in 13 countries.” We’re talking about doubling and tripling of paid cloud services here, an obvious trend even for those who are still unsure about the cloud.

In a somewhat related matter Best Buy announced it will close 50 big-box stores and cut 400 jobs in corporate and support areas. Best Buy will continue to roll out smaller, Best Buy Mobile stores. Best Buy big box stores have been hit hard by the likes of Amazon, with shoppers researching products in their stores, then buying elsewhere based on price and availability. I blogged about this on June 9, 2010 (BestBuy vs Amazon) when I tried to buy an new stereo receiver but was unable to purchase a model with the features needed at Best Buy, ultimately buying it from Amazon.

The casualty list of retailers is getting longer with the likes of Circuity City, Computer City, Linens ‘n Things’ and Borders, and recent challenges for department stores including Sears (A Company Problem or Industry Issue). Best Buy is working hard to reinvent themselves, something that malls and shopping centers may need to work on simultaneously with growing eTail trends and continued challenges for many retailers. No wonder there are so many shoe and sneaker retailers in the malls these days – one size does not fit all in that business. We’ll have to see if Amazon and other eTailers can fill those shoes when it comes to online sales.

For more information on web marketing go to StartMarketingTech, StartUpSelling or JurisMarketing.

What does your perfect client look like?

What does your perfect client look like? Create a Prospect Scorecard to quantify your approach to prospecting and pipeline building. Some of the attributes of your ideal client might include revenue, growth rate, client type (business or consumer) and market niche. For example, are you targeting companies between $5 million and $10 million in revenue? Are your best prospects fast-growing firms like those found on the Inc. 500 list? Are you selling to consumers? If you’re selling to consumers, are they high net worth prospects, middle income, younger or older? Are your prospects in a specific niche market such as banking, insurance, biotech, plumbing, consulting, education, etc.? Create a Prospect Scorecard with your ideal attributes and a customized qualification abbreviation to help you determine if you are selling to an in-profile prospect.

The Prospect Scorecard offers salespeople and businesses a simple and easy way to qualify, track and rank their best prospects. Salespeople, sales managers, entrepreneurs, sole proprietors, insurance agents, realtors and other business people often refer to prospects in vague terms such as: new, warm, hot, cold, likely, qualified, etc. These terms do little to better understand a sales pipeline or convey likelihood of purchase to other members of the team. The Prospect Scorecard resolves this issue, simply, quickly and easily for any salesperson or business.

http://prospectscorecard.com/ and for more details, the web selling tips book http://sellmoreandworkless.com/

 

 

Sell More & Work Less – Tip 36 Getting Past Legal Hurdles

Web Selling & Web Marketing Tips and Techniques

Web Selling & Web Marketing Tips and Techniques

Another tip from Sell More & Work Less: Web Selling Techniques Everyone Should Use

During the closing phase, you may encounter challenges with your prospect’s lawyer or legal department. In some cases, if you have your own legal department, the challenge might actually be your own legal requirements. But for now, let’s focus on a few important qualifying questions for the legal department. Do they have a lawyer or legal department that must review your contract? Do they insist on using their own contract? How long does it take to review a typical purchase? Can you work with them directly or does your sponsor act as the liaison? Do they insist on certain standard clauses, which must be included in every contract, and if so, can your sponsor provide those for you to review? Is your solution considered a work for hire, do they require ownership of IP, are there onerous damages clauses? Will they consider a mandatory arbitration clause which might be helpful to your boutique operation? We don’t want to get too far ahead of ourselves in the sales process, but it’s helpful to identify potential issues early and to have a game plan to solve them in the present and close phases. Though many of these questions pertain to B2B sales, some are also relevant for B2C sales. If you can simplify your own contract, it can help reduce the legal hurdles immensely. Consider creating an order form with the key legal clauses you require on the back of the form or on page two and include an arbitration clause. Simpler is usually better. If you wind up in a legal battle before or after the sale, it’s usually a losing proposition for everyone.

www.sellmoreandworkless.com for more information on our new web selling tips book

www.startmarketingtech.com for more information on B2B web marketing

www.jurismarketing.com for more information on law firm web marketing

Ten Tips To Create A More Profitable, Virtual, Web Centric Business

Web MarketingEveryone wants to sell more and work less. Intrinsically this statement infers greater profits, less labor and a more efficient operation. The Internet has changed the way businesses sell and market, or at least it has for some businesses. The days are coming to a close that organizations are more concerned with the facade of their building than they are with their website, or at least those days should be coming to a close.

Today, businesses large and small, should embrace web marketing plans and inexpensive cloud based solutions to optimize their efficiency and improve profitability. These tools range from Sales Force Automation and Contact Management to eMail Marketing and Social Media Marketing tools. Web meeting tools from the likes of Microsoft, Adobe and Citrix are powerful and inexpensive, and video calling from innovative products such as Skype allow real time face to face communication with employees, contractors, clients and prospects. Of course all of the above presupposes a business has an up to date website. Let’s review ten important tips business owners need to accomplish to create a more profitable and virtual operation.

1. Website – It all starts here with a professional, current, Web 2.0 (as of this writing) website. Your website should have an easy to understand value proposition, prominent above the fold call to action, large social media sharing buttons, on page HTML, SEO, blog and video. Today these are the basics and every owner, principal, partner or sales executive should assume that every prospect, partner, client and prospective employee will visit their website. If your offices look great but your website doesn’t, your priorities are inversely proportional in this regard.

2. Web Meetings – If your business has yet to embrace web meetings over traditional meetings, particularly for initial prospect meetings, you’re missing a great opportunity to leverage an inexpensive web selling and marketing tool. Qualify your prospects before driving 60 miles round trip for an initial meeting.

3. Webinars – If you’re thinking about eMarketing, leverage webinars to offer an educational call to action. Succinct, content rich, educational webinars provide a superior platform to showcase your knowledge, or your partners’ knowledge. Remember, you should educate as opposed to “sell” on your webinars.

4. eMarketing – Leverage eMarketing to reach out to highly targeted prospects with a very specific and measureable message. Your marketing message should be clear, concise and compelling, with a call to action which benefits the registrant, as opposed to yourself. Offering white papers, case studies and webinars which educate your prospective client (or client) should be your mantra.

5. Video Conference Calls – Borrowing the circa 1965 Bell Telephone slogan, “It’s the next best thing to being there”, Skype Video (or similar VOIP) offers a much closer approximation to this classic advertisement. I use Skype calls frequently for face to face communication with contractors, clients and prospects. Basic Skype PC to PC calls are free, or for a few dollars a month you can get multiparty video conferencing and screen sharing. Or, if you have GoToMeeting (or similar web meeting solution), you can offer video conferencing with greater screen sharing capabilities.

6. Virtual Employees and Contractors – When you think about profit margins, think in terms of virtual employees and contractors. The more virtual your operation, the greater the benefit to your bottom line. And virtual employees or contractors can often be more productive, unburdened by commutes or other distractions, they can optimize productivity by delivering services in a more flexible working environment. Management of these types of employees and contractors needs to focus on measureable results.

7. Outsource – Where and when possible, outsource non critical operations. For example, if you are a smaller business, it’s easier and more cost effective to host with a well recognized hosting provider (like 1and1 or GoDaddy) than to operate your own in house server. It may be less expensive to outsource marketing activities than to staff internally. Before hiring an admin, consider outsourcing with a virtual assistant.

8. Web Marketing – If you’re thinking of attending a trade show or offering an on-site seminar, reassess your priorities and extend your budget by leveraging web marketing activities. Utilize eMarketing, Social Media Marketing, Web Seminars, Case Studies, Blogs, SEO and other digital marketing efforts as opposed to traditional marketing methods.

9. eCollateral -Use eCollateral not traditional print collateral. Printed collateral is expensive, difficult to distribute, challenging to measure (who actually received it, read it, and did something with it).

10. Video – Video is digital and virtual and ties in nicely to your virtual goals. Offering a message about your value proposition, a recorded webinar, Skype recorded interview or even voice over PowerPoint vlog will help extend your web marketing and virtual reach.

Businesses leveraging these ten tips can become more virtual, more efficient and more profitable. Focusing on web centric, reusable solutions helps improve economies of scale and invest in a web centric foundation to improve the operational efficiency of any organization, regardless of size. If a business lacks the skills or resources to accomplish all of the items above, consider selective outsourcing as an option. Outsourcing doesn’t connote offshore outsourcing, rather an alternative to permanent internal staffing of the activity.

www.startmarketingtech.com for more information on B2B web marketing

www.jurismarketing.com for more information on law firm web marketing

www.startupselling.com for more information on insurance agency web marketing

Online Ad Spending Now Eclipsing Print Ads

It was recently reported that online ad spending will eclipse print ad spending for the first time in U.S. history. This year, industry experts are projecting that marketers will spend more on online advertising than on advertising in print magazines and newspapers. According to some analysts, online ad revenue will increase to approximately $39 billion in sales this year, while print ads will fall to about $34 billion.

This news is not unexpected, it’s been a tough decade for newspapers and magazines, and a stellar one for Google and the likes thereof. Proctor and Gamble (P&G), an ad spending behemoth, recently announced that they were continuing their shift toward online campaigns and away from print media. Their CEO stated, “In the digital space, with things like Facebook and Google and others, we find that the return on investment of the advertising, when properly designed, when the big idea is there, can be much more efficient.”

What does all of this mean to small and medium size businesses? When thinking of your overall marketing strategy, think in terms of your online opportunities including your website, on page SEO, off page SEO, PPC and social media marketing. Online marketing opportunities should be preeminent in your overall marketing strategy, while old school print media and brick and mortar event marketing should be carefully scrutinized for declining ROI.

Sears – A Company Problem Or An Industry Issue

Brick & Mortar vs. Virtual

Reuters recently reported that Sears will close as many as 120 of its Kmart and Sears department stores after holiday sales slumped, and Sears shares slid (say that three times fast) more than 27 percent. Sales have declined every year since the merger of the two chains in 2005. Sears faces significant challenges from rivals such as Wal-Mart and Amazon.com Inc, though the latter is indicative of an industry paradigm shift, namely e-Tail versus retail.

Some Big Box stores will likely survive the brick and mortar winds of change which are blowing in their direction. Though many major players such as Borders, Circuit City, Linens ‘n Things’ (and even smaller scale entities such as Blockbuster) were unable to weather the storm. Over the last couple of years, I’ve written several articles on this theme, including:

One need not be clairvoyant to see this paradigm shift in action. Stop in on any given big box store or “department store” in your local mall. Can you count the number of customers on one hand? Are they buying anything? There are some exceptions to this, though the question remains, how many big box stores can survive the onslaught of the more cost effective e-Tail model? The subtle irony here is that Sears might have been closer to a competitive model in 1893 when they introduced the Sears Catalog than they are today.

If your business continues to have a brick and mortar mentality, analyze what aspects of your business can leverage the web to improve efficiency and optimize profits. For more information on going virtual read: Your Virtual Success or Sell More & Work Less.

 

 

Sell More & Work Less Now Available on Kindle – Web Selling Techniques Everyone Should Use

Sell More & Work Less is now available on Kindle.  This web selling tips book focuses on a 4-Phase Sales Process which helps business professionals quickly learn and apply many new web sales tips and techniques to improve their sales effectiveness. Simply said, allowing them to sell more and work less. The 4-Phase Virtual Sales Process facilitates the transition to a web centric sales model offering greater profit potential, improved methods of selling and the more flexible business and personal lifestyle this affords. Readers can replicate the 4-Phase Virtual Sales Process to create their own tailored sales process using the techniques explained in this web selling tips and techniques book.  I was fortunate to be assisted by three “in the trenches” coauthors, Mike Lauducci, John Scranton and Andrew Blume in the writing of this web selling tips book.

Sell More & Work Less is now available on Amazon, both in paperback and the Kindle version http://www.amazon.com/Sell-More-Work-Less-ebook/dp/B0072O3KUO/ref=sr_1_sc_1?s=digital-text&ie=UTF8&qid=1328183749&sr=1-1-spell.

For B2B Web Marketing go to www.StartMarketingTech. For Insurance Agency Marketing go to www.StartUpSelling.com.