Wednesday, March 04 2020
6-Steps To Help You Close
Most payroll salespeople stop following-up on a proposal after one or two attempts at moving the sales process forward. Therefore, if you are a sales leader for your payroll service, 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?
Try This 6-Step Proposal Closing Process:
If you are in sales (or a sales leader), you might find the 6-step process I have outlined below of value:
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:
Again, thank you for giving us the opportunity to earn your business!
(Your name, title, etc.)
Executive Summary: During your next one-on-one meeting with your salespeople, ask each person to give you their proposal pipeline report. Now, ask each salesperson these two questions:
1. “When will this company make a buying decision?”
After listening to their answers, this e-mail will make complete sense to you.
Tuesday, March 03 2020
What To Do When A Prospect Ghosts You
Although you might have had a great meeting with a new HCM/payroll prospect (and sent a proposal); however, after a few days of calling and leaving a few voicemail messages, you get ghosted. First, don’t take it personally. Second, people are on their schedule when buying what you sell, not yours.
If a payroll/HCM prospect doesn’t return your calls or respond to your e-mails after receiving a proposal, it won’t hurt to send them a “What Should I Do” e-mail (see below):
Sample e-Mail To Resurrect A Payroll/HCM Prospect Who Ghosted You.
Subject line: (prospect first name), Can You Help Me?
Dear (prospect’s first name):
Since I haven't heard back from you after sending you a proposal, would you mind giving me some direction on the best way to professionally follow-up with you? To make it easy, just hit the reply key and then type the corresponding number from the list below:
With all kidding aside, I understand that you are super busy, and the last thing I want to do is not be professional with my follow-up. That said, I would appreciate it if you will take a moment to let me know what you are thinking.
I look forward to hearing from you!
(Your name, title, etc.)
It Is Time To Move On?
If the prospect still ghosts you after sending the above-mentioned e-mail, then it’s time to move on. Although some consider ghosting unprofessional, here’s the truth: They are not interested in buying what you are selling and just don’t want to tell you “no.” Remember, this is their issue, not yours.
The Best Thing To Offset “Ghosting” Are These Two Things…
Thursday, February 20 2020
8 Questions All Payroll Service Owners And
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:
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.
Wednesday, February 05 2020
Thursday, January 23 2020
Why You Need To Call A Payroll
You just hung up the phone after a great conversation with a new prospect. Although the person responded well to your story, you are feeling great about closing this new deal. But after sending off a proposal to the prospect, they ghosted you. Now what?
When a prospect goes silent, most salespeople will send a few e-mails as a quick follow-up – a message that asks what their thoughts were on the proposal, etc. And yes, sending off an e-mail will show your sales manager that you are “following-up.”
Don't Exclusively Rely On An e-Mail To Get The Payroll Deal Done.
As I advise all my clients’ payroll salespeople, you just can’t rely on an e-mail for getting a payroll deal done. Yet, over and over again, many salespeople tell me that a payroll deal is lost just because a prospect went silent on them.
If your payroll prospect has stopped replying to your e-mails, this is when you should pick up the phone and call them. Although you might have to leave a few voicemails, you still need to keep trying. But please, don’t stalk them; therefore, I recommend using my 2/4 call strategy (2 calls in 4 business days).
Many Payroll Deals Can Be Salvage If You Will Pick Up The Phone.
In today’s digital age, a phone call has become one of the most underutilized tools by payroll salespeople. Here are a few reasons why you need to call a prospect:
Send This e-Mail To A Prospect Who Ghosted You (After My 2/4 Call Strategy).
After making your follow-up calls and leaving a few voicemails, I highly recommend sending the e-mail I have listed below if the prospect still remains silent.
I have called a few times in the past few (days/weeks) and have not heard back from you. And since I want to be professional in my follow-up efforts with you, it would help me a lot if you would let me know how I should reconnect with you; I will take it from there.
If you would hit the reply key right now and type the number that best describes things, I would greatly appreciate it!
Name – Title
P.S. You will find attached a one-page list of client testimonials (and the value we provided them) from businesses similar in size to yours.
Executive Summary: Although e-mails are valuable, you need to blend in a series of phone calls and e-mails to get the payroll sale done. Remember, a phone call allows you to gain greater transparency on where a prospect stands on making a buying decision.
Friday, January 03 2020
8 Prospecting e-Mail Tips For
You might have heard that e-mail marketing is a waste of time because prospects are too busy to open an e-mail from someone they don’t know; however, statistics show many “cold e-mails” are still being opened.
To help you receive a better e-mail response from your database of payroll prospects, CPAs, and yes, your payroll clients, I have listed a number of quick tips below.
1. Proof Your Campaigns: The #1 thing you can do is print AND triple check your e-mail marketing campaigns. Look for typos, formatting errors, no low-risk offers, etc.
2. Write Enticing Subject Lines: The difference between a great subject line and one that is less than stellar, is the difference between an e-mail getting read and one that gets ignored.
3. Talk Like A Real Person: If your subject line reads like spam, it will be treated as one. Here are some words that could trigger a spam filter:
4. Personalize Your e-Mail: Whenever possible, you should personalize your subject line to include a prospect’s name or company (or both). According to MarketingDive, personalizing an e-mail subject line can boost open rates by 50% and increase click-to-open rates by 58%.
5. Tell The Reader What’s In It For Them: When it comes to your low-risk offer, focus LESS on explaining how your product or service works, and more on how it can add VALUE to their business.
6. Format Your e-Mails For Smartphones: With a prospecting e-mail, what you include in your message is just as important as how your message is read on a smartphone.
Fact: 70+% of smartphone users will delete an e-mail if it doesn’t look good on their smartphone. By the way, 30% - 33% of your prospects are reading your emails on their smartphones.
7. Know When To Send A Follow-Up e-Mail: Although the majority of your cold prospecting e-mails are still met with a cold shoulder, you need to focus on the nurturing aspect. That said, keep 80% of your e-mail campaigns “educational” in nature.
8. Vary Your Messaging: If a prospect who opened your initial e-mail has gone cold; I highly suggest sending the following types of campaigns to re-engage them:
The Real Leads Will Come From Doing This.
After sending an email campaign, I highly recommend picking up your phone for a quick “Oh, by the way,” call. If you’re a client of ours, you know exactly what type of call this is! If you don’t, contact me directly for the answer.
Executive Summary: Getting a prospect’s attention in a crowded inbox takes skill. To help you cut through all the marketing noise, you need to look at e-mail marketing as a long-term process, i.e., drip marketing, as it takes multiple follow-up e-mails.
Last but certainly not least is this: Almost every prospect is worth sending multiple campaigns; however, the ones who have opened your campaigns are the ones to keep after.
Wednesday, December 18 2019
16 Things Winning Payroll
To help you and your sales staff regain focus each day, I have listed a number of things below winning payroll salespeople do every morning.
16 Things Winning Salespeople Do Each Morning.
1. They Get To Work Early: Successful salespeople arrive early to the office to avoid the typical interruptions from their co-workers.
4. They Read Their Sales/Personal Goals: Successful salespeople read their sales goals and personal goals to help internalize their success.
Click here to read more about this book on Amazon.com.
P.S. #1: The key to managing your day is to take action.
Thursday, December 12 2019
How To Stop Looking Like A
Do you feel as though your marketing messages are making you look and sound like every other payroll service around you? If you do, you are not alone as most payroll services use the same tired phrases like:
Here’s The Problem:
Your prospects are flooded with advertisements from TV commercials, print ads, radio ads, brand labels, Facebook ads, ads on buses, Google ads, to even ads on their phones. An article published in the NY Times said, “A person living in a city 30 years ago saw up to 2,000 ad messages a day, compared with up to 5,000 today.”
You Have 1- To 2.5 Seconds To Capture A Prospect’s Attention.
Your marketing messages must resonate with your target audience as you only have 1- to 2.5 seconds to capture someone’s attention. Therefore, if your marketing messages look and sound like everyone else, a prospect will either skip over your ad or only look at price as the key differentiator. How do I say this? Because we see it all the time.
Get In The Mind Of A Prospect Before Writing Your Next Campaign.
Marketing research has proven that the average person will spend 1- to 1.5 seconds reading a marketing message (e-mail/direct mail). During this time, their brain will process some or all of these questions (to determine if they should continue reading or learning more about your payroll service):
Your database of prospects and referral sources are just like you and everyone else. They have a limited amount of time to learn about your payroll service as they are trying to do more work with fewer resources. And the more in sync your messages are to their problems, frustrations, annoyances, and needs, the quicker you will get their attention. Period.
Executive Summary: With the average person being exposed to thousands of marketing messages a day, what are your plans to change what you are saying?
Wednesday, December 11 2019
Marketing your payroll service is a critical aspect to growing its sales; however, the key to your marketing success is this: Niche marketing.
What Is Niche Marketing?
Niche marketing is all about focusing on a particular group(s), i.e., a marketing database that have a common element(s).
Core Groups To Target:
Niche Markets To Consider:
The Benefit From Niche Marketing.
The real benefit of niche marketing is this: Focus. And if you ever managed a sales/marketing team, you and I both know it’s imperative to keep a person’s focus on a target market. Plus, when you are focused on a particular group, the following happens:
Successful Marketing Campaigns Follow Four Basic Rules.
What Type Of Promotions Or Low-Risk Offer Can You Use?
Consider these ideas as you plan your promotion:
Sample list of private label BBQ/hot sauce companies:
Crucial Step: Review Your Existing Marketing Material And Website.
I recommend reviewing/rewriting the following:
Clearly Articulate The Pain Points Your Payroll Service Solves.
Your marketing message should tell a reader the problems your payroll service solves. Here are some key talking points:
You Only Have 1- to 2.5 Seconds To Get Someone’s Attention.
Choose your headlines carefully as you will only have a reader’s attention for 1- to 2.5-seconds before they decide to read further on or stop altogether. With your niche marketing messages, remember to use industry jargon to help your message resonate with a reader.
Try to avoid using platitudes like these:
Add Reports To Your Website/e-Mail Marketing Campaigns:
Executive Summary: Prospects will switch to a new payroll service for the following reasons:
Now that you know the top reasons why someone would want to switch to a new payroll service, you can use this information in your next marketing campaign.
Tuesday, December 10 2019
Is Your Payroll Service Invisible To Its
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:
And 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."
8 Reasons Why Your Payroll Service Needs A Drip Marketing System.
Here are eight reasons why your payroll service needs a drip marketing system.
IMPORTANT: If you are a business owner or sales leader, don't think for one minute that your salespeople are staying in touch with their database of prospects or referral partners.
Send More Than A Newsletter To Help Promote And Market Your Payroll Service.
After reading the sales stats above, you can now see why it's paramount to have a lead nurturing system that stays in continuous contact with your database of prospects and referral partners. This is especially critical when you consider 50% of all salespeople stop calling a prospective buyer after hearing, "No, we are not interested."
Types Of e-Mail Marketing Campaigns To Send (PRINT THIS LIST):
Here are some time-tested e-mail marketing campaigns to send:
Even More Ideas:
Executive Summary: You can immediately increase sales by doing three things:
Yes, it's that simple.
P.S. The days of winging it are over when it comes to marketing your payroll service. If you want to have a break-out year, set your goals and then take action.