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Thursday, October 29 2020

12 Ways To Boost Profits
At Your Payroll/HCM Business

(Print And Share With Your Executive Team)
By Glenn Fallavollita - President, SellMorePayroll.com | Drip Marketing, Inc.

  • Word Count: 353
  • Time To Read: 1.4 Minutes @ 250 Words Per Minute

Over the past few months, many payroll/HCM businesses have taken a hit when it comes to their profits. And if your company has too, you need a sales, marketing, AND business plan to offset these losses. That being said, you and your management team need to focus on these core elements of your business:

12 Areas To Print And Share With Your Executive Team.

  • #1: Look For Niche Markets Your Sales Team To Target (i.e., Long-Term Care, Building Supplies, Liquor Stores, etc.)
  • #2: Give Your Staff Incentives To Improve A Process(s)
  • #3: Focus On Employee Engagement (~66% Of Your Staff Is Either Disengaged Or Completely Disengaged)
  • #4: Negotiate A Better Deal With Your Vendors
  • #5: Look For Private/White Label Opportunities
  • #6: Buy A CPA’s Book-of-Business
  • #7: Outsource Core Functions (i.e., Marketing)
  • #8: Run A Price Audit (Compare Your Prices To Your Competitions')
  • #9: Restructure And Refine Processes And Procedures
  • #10: Switch Up Suppliers, Back-Office Software, Or Payroll And HR Software
  • #11: Start Cross-Selling Other Services To Your Clients (i.e., time and attendance)
  • #12: Get Your Salespeople To Pick-Up The Phone More Often (50% Of All Salespeople STOP calling A Prospect/CPA After Their 1st Unsuccessful Attempt At Moving The Sales Process Forward - Your Salespeople Are Guilty Of This Too)

2 BONUS Tips. . .

  • #1: Survey Your Payroll/HCM Clients To Ensure They Are Happy (And Aren’t Planning To Leave You For The Competition)
  • #2: Build A Proactive Process To Generate More Referrals From Your Database Of Clients, CPAs, And Referral Partners

Here's The Bottom Line:

The COVID-19 crisis isn't going to get any better as winter is right around the corner. Because another shutdown/slowdown is right around the corner, it is essential to:

  • Audit of your business expenses to determine if there are any costs you can remove or reduce.
  • Focus on increasing sales via e-mail marketing and niche marketing.
  • Get your sales team to be more proactive with calling clients, referral partners, and the prospects who have an open proposal.
  • Take action!
Posted by: SellMorePayroll.com AT 08:43 am   |  Permalink   |  Email
Monday, October 12 2020

How You Say It
Makes All the Difference

By Glenn Fallavollita - President, Drip Marketing, Inc.

  • Word Count: 188
  • Time To Read: 50 Seconds @ 250 Words Per Minute

If your e-mail marketing campaigns aren't interrupting and engaging its readers, then you need to consider my 4-step e-mail marketing formula below:

  1. Interrupt
  2. Engage
  3. Educate
  4. Offer

5 e-Mail Marketing Campaigns That Will Generate More Sales Leads For You.

To help you generate more sales leads in the next 72 business hours, I have listed some time-tested campaigns below for you to consider:

  • #1: Prospects - e-Mail your database of prospects a "meeting request" letter.
  • #2: Clients - e-Mail a survey to your clients (ask for a referral within the survey).
  • #3: Everyone On File - e-Mail a press release on a new product or service.
  • #4: Everyone On File - e-Mail a product or service spotlight campaign.
  • #5: Everyone On File - e-Mail an educational newsletter, i.e., PPP News, IRS 2021 update, work from home tip, etc.

Attention All Owners And Sales Leaders.

If your marketing person/company isn't giving you solid advice on how to generate more sales leads or, more importantly, doesn't understand the 4-step formula outlined above, then call or e-mail us sooner versus later.

Posted by: AT 06:43 am   |  Permalink   |  Email
Thursday, October 08 2020

5 Reasons Why A Payroll/HCM Prospect Has
Already Forgotten About You (And How To Solve It)

By Glenn Fallavollita - President, Drip Marketing, Inc.

  • Word Count: 426
  • Time To Read: 1.7 Minutes @ 250 Words Per Minute

Right now, many businesses are looking to switch to a new HCM company or payroll service just like yours. Unfortunately, if they don't remember you, they will end-up hiring your competition and NOT you.

Why Most Decision Makers Have Already Forgotten About Your Payroll Service.

Marketing any size payroll service is a challenge, even if you are a Fortune 500 Company like ADP, Paychex, SurePayroll, Gusto, etc. Here are five reasons as to why:

  • Reason #1: People Forget Stuff - 80% of what you tell someone (about your business) is forgotten within 24- to 48-hours. 
  • Reason #2: Your Salespeople Are Disengaged - 70% of your salespeople are either disengaged or completely disengaged; therefore, how passionate do you think they are about telling someone about the value your payroll service/HCM company can provide them? 
  • Reason #3: Salespeople Stop Calling Prospects And CPAs - 50% of all salespeople stop calling a prospect/CPA, for 9 to 12 months or altogether, after their FIRST unsuccessful attempt at moving the sales process forward. This percentage skyrockets to 99% after their third attempt.
  • Reason #4: They Have A Passive Sales Leader - Most sales leaders let their salespeople do their own "marketing." Now re-read point #3. 
     
  • Reason #5: Salespeople Turnover - 50% to 66% of all newly hired payroll salespeople* quit or get fired in their first 9 months of employment.

6 e-Mail Marketing Campaigns That Will Keep Your Payroll Service Top-Of-Mind (PRINT THIS LIST):

To help you and your sales team maximize prospect engagement and help generate more sales leads, I have listed below some time-tested campaigns that will work (we prove it all the time to our clients) when marketing your payroll service or HCM company.

  • #1: Prospects - e-Mail your database of prospects a "meeting request" letter.
  • #2: Clients - e-Mail a survey to your clients (ask for a referral within the survey).
  • #3: Everyone On File - e-Mail a press release on a new product or service.
  • #4: Everyone On File - e-Mail a product or service spotlight campaign.
  • #5: Everyone On File - e-Mail a bundle "deal" to your database of prospects, CPA network, and past clients. 
  • #6: Everyone On File - e-Mail an educational newsletter, i.e., PPP News, IRS 2021 update, work from home tip, etc.

Summary: If you want to kick your payroll or HCM sales into high gear this month, consider the following tips:

  1. Develop a one-page sales and marketing strategy for your business. 
  2. Implement the campaigns listed above.
  3. Have phone blitz days for your sales team to follow-up on the campaigns listed above.
Posted by: SellMorePayroll.com AT 06:27 am   |  Permalink   |  Email