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Thursday, February 20 2020

8 Questions All Payroll Service Owners And
Sales Leaders Need To Ask Themselves

By Glenn Fallavollita, President of SellMorePayroll.com & Drip Marketing, Inc

  • Word Count: 385
  • Time To Read: 1.5 Minutes [Based On 250 Words Per Minute]

Today is the perfect time to look at your sales strategies, marketing campaigns, and sales tools.  If not, you are putting your payroll/HCM sales at risk, as doing the same thing will only generate the same sales results. 

Stop Hoping Your Payroll Service’s Sales Problem Will Change.

All too often, many business owners/sales leaders hope their sales issues will disappear or turnaround. But here’s the truth: The only way your sales needle will move in a positive direction is for you to take action and do something different. 

8 Questions All Owners AND Sales Leaders Need To Ask Themselves: 

#1: How many of our salespeople are not meeting their quota (what are your plans to help them be successful)?

#2: What percentage of our clients, prospects, and referral partners have an e-mail address associated with their record? If it's not 100%, ask yourself why.

#3: What is our e-mail marketing and direct mail marketing strategies?

#4: What is our sales follow-up strategy to ensure that our sales team is following up on your e-mail/marketing campaigns? Now read the bullet point below.

#5: Are we relying on our salespeople to stay in touch with their database of prospects and referral partners (Fact: 99% of all salespeople give up after their third unsuccessful call)? 

#6: What type of marketing collateral do we use on a sales call to help reduce price as a focal point or sales objection?

#7: How often am I training the sales staff to improve their sales performance?

#8: How often do you connect with our database of payroll clients to:

  • Cross-sell them with other products or services?
  • Ask for a referral?
  • Survey them to determine their future needs?
  • Ask them their accountant's name?

Are You Happy With Your Answers? 

If not, you should seek out a professional who can help you create or fine-tune your sales and marketing strategy.  By the way, don’t put marketing on your sales team’s shoulders, as research has proven salespeople are notoriously bad writers, and worse, do marketing on an intermittent basis at best. 

Executive Summary:  If you do not know the answers to the questions above, or if you are dissatisfied with your answers, it means you and your salespeople are underleveraged in the marketplace. 

Should this be the case, your salespeople are losing 15% to 50% of their annual sales revenue by not being plugged into a long-term success plan and/or automated marketing system.

Posted by: SellMorePayroll.com AT 08:55 am   |  Permalink   |  Email
Thursday, February 06 2020

5-Steps To Help You Close
More Payroll Proposals

(PRINT AND USE AT YOUR NEXT SALES MEETING)
By Glenn Fallavollita, President of SellMorePayroll.com & Drip Marketing, Inc

  • Word Count: 389
  • Time To Read: 1.6 Minutes @ 250 Words Per Minute

Fact: 66% to 90% of all payroll salespeople stop following-up on a proposal after one or two attempts at moving the sales process forward. That said, if you are a sales leader it would be in your best interest to train your sales team on the value of following-up, especially when you consider the staggering statistics below.

How Many Contacts Does It Take To Close A Sale?

  • 2% are made on the 1st contact.
  • 3% are made on the 2nd contact.
  • 5% are made on the 3rd contact.
  • 10% are made on the 4th contact.
  • 80% are made on the 5th to 12th contact.

Try This 5-Step Proposal Closing Process:

If you are in sales (or a sales leader), you might find the 5-step process I have outlined below of value:

  1. After a salesperson creates a proposal, it is sent to a second person for final proofing.
  2. All proposals are logged into a tracking report (created in Excel for each salesperson).
  3. After a proposal is sent to a prospect, a copy is sent to the sales leader for an executive follow-up call. This call has two objectives. First, it is to thank the person for the opportunity to earn their business. Second, it is to do a trial close, i.e., “When did you want to run your first payroll with us?”
  4. Set up a sequence of phone calls to follow up on a proposal.
  5. Develop an educational series of e-mail follow-up campaigns (contact us should you need help).

Send This e-Mail Within 24-Hours Of Delivering A Proposal.

Dear (first name),

Thank you for the opportunity to earn your business this week.  By the way, I have attached a few items you might want to read:

  • An article/whitepaper on X, Y, and Z.
  • Some recent client testimonials about our X, Y, and Z.

Again, thank you for giving us the opportunity to earn your business!

Warmest Regards,

(Your name, title, etc.)

Executive Summary: During your next one-on-one meeting with your salespeople, ask him or her to give you their proposal pipeline report. Now, ask these two questions:

1. “When will each person make a buying decision?”
2. “What is your follow-up plan for every prospect that hasn’t been closed?”

After listening to their answers, this e-mail will make complete sense to you.

Posted by: SellMorePayroll.com AT 05:44 am   |  Permalink   |  Email
Wednesday, February 05 2020

How To Get More Prospects
To Remember Your Payroll Service

By Glenn Fallavollita, President of Drip Marketing, Inc.

  • Word Count: 507
  • Time To Read: 2.0 Minutes @ 250 Word Per Minute

According to data from the Census Bureau’s Annual Survey of Entrepreneurs, there were 5.6 million “employer” firms in the U.S. in 2016. Here’s the breakdown:

  • 500 or fewer workers accounted for 99.7% of those businesses.
  • 100 or fewer workers accounted for 98.2%.
  • 20 or fewer workers made up 89%.

Click Here To Read The Census Survey @ SBE Council.org.

With this many businesses in the U.S., you're probably saying to yourself, "If they only knew about my payroll service, I would be able to grow my sales exponentially." Unfortunately, the items listed below are working against you.

6 Reasons Why A Payroll Prospect/Referral Partner Will Forget About Your Payroll Service.

  • 40% of all salespeople feel that prospecting is one of the most challenging aspects of their job (therefore, most salespeople flat-out ignore this activity).
  • 70% of all salespeople are either disengaged or completely disengaged in their job (now re-read point #1). 
  • 50% of all salespeople stop calling a prospect, for 9 to 12 months or altogether, after their first unsuccessful attempt at moving the sales process forward.
  • 50% of what you tell a prospect during a presentation is forgotten in less than one (1) hour, 70% in 24 hours, and 90% in a week.
  • 90% to 95% of all "prospecting calls" go directly to voicemail.
  • 95% of all small businesses (and most likely yours) don't provide their sales staff with any sales training after 30-days of employment.

If you want more payroll prospects and referral partners to remember your payroll service when they're ready to switch to a new payroll service (or recommend a payroll service to someone they know), I have listed below some proven money-making campaigns.

Marketing Campaigns To Help People Remember Your Payroll Service: 

Here are some time-tested drip marketing campaigns (sent as an e-mail):

  • A Bundle Promo On A Product/Service
  • Client Refer Us To A Friend
  • Client Survey
  • Holiday Card
  • New Hire Press Release
  • New Product Or Service Press Release
  • Upgraded System/Platform Press Release
  • Product Or Service Spotlight
  • Sales Intro Letter
  • Webinars (Monthly) On Ways To Improve X, Y, Or Z

Other e-Mail Marketing Ideas:

  • Promote an add-on service via a free trial or special offer, i.e., free employee background check. 
  • Provide free reports to download, i.e., How To Avoid Hiring The Wrong Candidate or How To Avoid An Employee Law Suit, etc. 

Even More Ideas:

  • Send each salesperson's "top 10 list of prospects and/or referral partners" a lumpy mail campaign. 
  • Send someone a gift card if they referred you to a prospect that resulted in a sale.
  • Sponsor a "Shred Your Documents Day" with a shredding company in conjunction with a local bank or credit union. 

Executive Summary: You will see an immediate increase in sales by doing three things:

  1. Build/update your e-mail marketing database(s) each week.
  2. Send your database of referral partners, clients, past clients, and prospects relevant content.
  3. Follow-up most e-mail marketing campaigns with an "oh, by the way" phone call. 

Yes, it's that simple. 

P.S. The days of winging it with your "marketing" efforts are over. If you want to have a break-out year, set your goals, and then take action.

Posted by: Glenn Fallavollita AT 05:23 am   |  Permalink   |  Email

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Posted by: SellMorePayroll.com AT 05:28 am   |  Permalink   |  Email