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Wednesday, February 09 2022
Generate 50% More Payroll Sales At 33% Lower Cost

Generate 50% More Payroll Sales At 33% Lower Cost
(Print And Share With Your Sales Leader)
By Glenn Fallavollita, President of Drip Marketing, Inc

  • Word Count: 356
  • Time To Read: 96 Seconds

According to Forrester Research, "Companies that nurture their database of leads make 50% more sales at a cost 33% less than non-nurtured leads." Therefore, it is imperative to set up a drip marketing system to help nurture your database of payroll prospects and referral partners with educational building payroll content

Read These Sales And Marketing Statistics.

Before I wrote my book Drip Marketing: A Powerful New Marketing Strategy That Gets Prospects To Buy From You, I studied how 1,000+ businesses and salespeople go about sales and marketing. Here is what I found:

  • Salespeople Give Up Way Too Early - 50% of all salespeople stopped calling or sending information for at least 9 to 12 months or altogether to a prospective buyer after their first unsuccessful attempt at moving the sales process forward. A number that skyrockets to 98% after their third unsuccessful attempt.
  • 66% Of All Newly Hired Payroll Salespeople Don't Last – Close to 66% of all newly hired payroll salespeople quit or get released after 9 to 12 months of employment.
  • Salespeople Can’t Predict A Prospect’s Close Date - 95% of all salespeople could not predict the actual close date of a sale with any degree of accuracy when given a 4- to 8-week “prospect close date."
  • First-Time Appointments Or Events - 75% of all first-time appointments or events with a prospective buyer or referral source happen after a salesperson’s 4th phone call, e-mail, or face-to-face contact. 
  • It Takes 15 – 30 Conventional Touches - In a medium- to high-value business-to-business sale, it takes 15 to 30 conventional touches by a salesperson (phone conversations, face-to-face meetings, voicemail messages, personal e-mails, letters, and so on) before a cold prospect or referral source is defined as being “sold or closed.”
  • Few Payroll Services Train Their Salespeople - 90% of all small- to medium-sized businesses did not conduct any consistent sales training for their payroll sales staff.

Lead conversion is critical for all sized payroll services, including yours. Therefore, a sales leader needs to:

  1. Be consistent in their lead nurturing activities, i.e., drip marketing campaigns.
  2. Actively help their salespeople follow-up sales opportunities AND prospect for new business and referrals. 

Bottom line: If your payroll service isn’t top-of-mind when someone is ACTIVELY seeking a new payroll or timeclock solution, a sale will go to another payroll service and NOT yours. Yes, it's that simple; which is the #1 reason you need to have an active drip marketing system running at your payroll service.  

About The Author:

Glenn Fallavollita is a nationally recognized keynote speaker providing money-making advice to help payroll service owners, sales pros, and marketing gurus build more profitable relationships with their database of prospects, referral partners, and clients.

Additionally, Glenn is the president of and Drip Marketing, Inc. and has written 50+ whitepapers and three sales/self-marketing books, Supercharge Your Payroll Sales NOW!Stop Whining AND Start Selling, and Drip Marketing: A Powerful New Marketing Strategy That Gets Prospects To Buy From YouHe also writes blogs for LinkedIn and other national websites.

© Drip Marketing, Inc.  All Rights Reserved May Not Be Used Without Written Permission.

Posted by: AT 05:39 am   |  Permalink   |  Email