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Friday, October 07 2022
 4 Tips For Selling Your Payroll Service
If you plan to sell your payroll business in the next 6 to 9 months, here are four tips to help make your business appealing to a buyer. 1. Be Clear About Why You Are Selling Your Business:
2. Understand Your Clients: Prospective buyers typically want to see:
3. Get Your Paperwork In Order: You need to have your paperwork in one file:
4. How To Maximize Your Multiple: Ways to add value include:
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 SellMorePayroll.com 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 You. He also writes blogs for LinkedIn and other national websites. To hire Glenn for your next conference, visit DripMarketingSpeaker.com. © Drip Marketing, Inc. All Rights Reserved May Not Be Used Without Written Permission. Friday, September 16 2022
 Why Your Payroll Company’s VP of Sales
When hiring a sales leader for your payroll service, you want to ensure your VP of Sales is a great salesperson. If not, there is a good chance they won’t perform well for you. “But Glenn, Aren’t All VP of Sales Great At Selling?” No! Here’s why: Let’s say you are interviewing 10 candidates who claim they have increased sales tenfold at XYZ company. What they aren’t telling you is this: They worked for a larger, more well-established payroll, HR, PEO, or tech company that had a large client base and a loyal referral partner base (AKA sales lead machine). Unfortunately, if you are a smaller payroll/HCM business with only a handful of salespeople, you want to avoid hiring a sales leader that can’t sell, no matter how strong their resume or LinkedIn profile looks. Trust me when I say, “small payroll services are not like Fortune 1,000 businesses or companies with a large client/referral base.” If Your VP of Sales Can’t Sell, Here Is What Will Happen.
8 Tips When Hiring A VP of Sales:
What Their Answer Should Be On Question #8:
Summary: Sales leaders who aren’t great salespeople tend to be a costly endeavor for the smaller payroll service bureaus – and blame the poor sales on their sales staff and how nobody knows who your company is. Conversely, the VP of Sales who is both a great manager and a solid salesperson will figure out your problems fast and correct your revenue problems. P.S. Be careful of hiring a VP of Sales who only worked at a large company with a larger client/referral partner database. Although they are good for many things, they just won't be good for your business. 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 SellMorePayroll.com 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 You. He also writes blogs for LinkedIn and other national websites. © Drip Marketing, Inc. All Rights Reserved May Not Be Used Without Written Permission. Tuesday, September 06 2022
 6 Ways To Generate More Q4 Sales & Referrals
The Q4 selling season has officially started for the payroll service industry. And if you want to jump-start your Q4 sales, I have listed below some key selling tips for all owners, sales leaders, and sales pros to read. #1: Build A Massive e-Mail Database - If you want to see an immediate increase in sales, work on building a massive e-mail database of clients, prospects, and referral partners. If you don’t have enough e-mail addresses, call or e-mail me as we have an e-mail address acquisition service. Click Here To Learn More About Our e-Mail Address Acquisition Service. #2: Connect With Your Payroll Clients - Satisfied clients are the lifeblood of any business. That said, here are a few ideas to help generate more referrals from your database of clients:
#3: Develop A Drip Marketing Strategy - To market your business cost-effectively, I recommend sending a consistent series of bite-size marketing campaigns versus taking the start-then-stop approach to marketing your business. #4: Write Relevant Content To A Reader – The first step you need to take is to develop a database of clients, prospects, and referral partners. After that, start sending relevant messages to each group on file. #5: Pick Up The Phone To Follow Up - Once a drip marketing campaign has been sent, make sure your salespeople call to follow up a campaign. By the way, this is the best way to shake the prospect tree if you want more sales leads and referrals. To help you sound more professional on the phone, I have outlined two voicemail scripts to consider:
#6: Survey Your Clients - A client survey can provide you with a tremendous amount of feedback. Specifically:
Executive Summary: Bringing on new clients is the lifeblood of any payroll service. And if you want to see an increase in new business, you need to TAKE ACTION today, not tomorrow. 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 SellMorePayroll.com 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 You. He also writes blogs for LinkedIn and other national websites. © Drip Marketing, Inc. All Rights Reserved May Not Be Used Without Written Permission. Friday, September 02 2022
 Before You Sell Your Payroll Service
So, you have built a successful payroll service, and you are now considering the idea of selling your business to one of your children(s). And as with many decisions in life, you need to think through the process to ensure a smooth transition to this transaction. Staggering Facts To Consider: According to Businessweek.com, 2010…
In an article by Beau Ruff, Cornerstone Wealth Strategies, he wrote the following: Gift Rules Apply "A business can be gifted, but how does one determine if any part of the business transition is a gift?
To read this article in full, CLICK HERE. Reasonable sale price?
Accordingly, this sets the floor for the minimum long-term interest to be charged on the sale of the business to avoid the implication of the gifting rules. Favorable timeline Parents often structure these sales with the minimum amount of down payment, carry the loan for a period longer than a typical third-party sale, and charge lower interest on the contract balance.
Partial gift A common misunderstanding regards the limits of gifting.
To read this article in full, CLICK HERE. 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 SellMorePayroll.com 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 You. He also writes blogs for LinkedIn and other national websites. © Drip Marketing, Inc. All Rights Reserved May Not Be Used Without Written Permission. Tuesday, August 30 2022
 4 Money-Making Phone
The majority of payroll/HCM salespeople find phone prospecting intimidating; therefore, I have listed four money-making tips below to help you/your salespeople generate more sales opportunities, client referrals, and CPA referrals. Phone Prospecting Made Easy (And More Effective). #1: Learn How To Get Past The Gatekeeper - Gatekeepers are called this for a reason, as they are the ones who stop salespeople from wasting their boss’ time, i.e.,
#2: Know Exactly How You Can Help A Prospect - For a decision maker, there is nothing worse than a salesperson who immediately goes into their sales pitch. Instead, think like your prospect and ask yourself, “How can I help this CFO, business owner, office manager, etc.? By the way, you will not create any interest by saying, “Do you need a new payroll service?” Here's why: When they will hear that statement they will think, “I already have a payroll service. I don’t need a new one.” #3: Create Immediate Interest - Once you have a prospect on the phone, say their first name and then ask a business question/statement.
#4. Have Some Good Business Questions Ready - When you prospect on the phone, your primary goal is to start a conversation. Therefore, I suggest beginning with one to two sentences that demonstrate you understand the prospect’s business/industry. Try this one: “From what our clients are telling me, many of them in the manufacturing industry are experiencing X, Y, and Z. Is that something you are too?” Also, keep your question open-ended. Executive Summary:
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 SellMorePayroll.com 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 You. He also writes blogs for LinkedIn and other national websites. © Drip Marketing, Inc. All Rights Reserved May Not Be Used Without Written Permission. Wednesday, August 24 2022
 21 Reasons Why Most Payroll (Print And Share With Your Sales Leader)
Based on my 30+ years of sales and consulting experience, I have determined there are some core reasons why a salesperson will consistently miss their sales quota.
If you can relate to what I listed above, help yourself by addressing these issues head-on. If you do, it can and will make a big difference in your sales performance. 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 SellMorePayroll.com 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 You. He also writes blogs for LinkedIn and other national websites. © Drip Marketing, Inc. All Rights Reserved May Not Be Used Without Written Permission. Tuesday, August 23 2022
 4 e-Mail Marketing Tips to Grow Your Payroll Service's Sales
Developing an e-mail marketing strategy is a challenge for most payroll services as many owners get caught up in expensive social media marketing, blog content, video marketing, video-sharing platforms, and digital advertising. Although there are many ways to market a payroll service, don’t neglect the power of e-mail marketing. Why? A business averages $36 for every $1 invested, according to Direct Marketing Association (DMA). 4 Ways To Grow Your Payroll Service Via e-Mail Marketing. #1: Vary Your e-Mail Marketing Content - Blasting a generic e-mail newsletter was cutting-edge marketing 20 years ago. In today’s information-overloaded inboxes, you need to ensure you are offering valuable content to a reader. If not, your open rates will suffer. Here are some attention-grabbing ideas:
Click Here To Read How This Payroll Service Saw A 61.4% Newsletter Open Rate. Your database of CPAs and prospects don’t want nonstop promotional material; however, year-end deals are definitely an eye-catcher. #2: Segment Your e-Mail Databases - The best way to maximize your e-mail messaging is to write to the audience you are targeting (see list below).
Four Examples:
#3: Add A Low-Risk Offer - Every email campaign needs a visible low-risk offer (LRO); even if a sale isn’t the e-mail’s primary goal. Some suggestions:
#4: Pick Up The Phone - If you want more sales leads and referrals, you need to pick up the phone to follow up. Do this, and you will see sales magic happen (I prove it all the time to my clients). 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 SellMorePayroll.com 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 You. He also writes blogs for LinkedIn and other national websites. © Drip Marketing, Inc. All Rights Reserved May Not Be Used Without Written Permission. Thursday, July 28 2022
 9 Tips To Help Avoid Hiring
There is an epidemic failure in the payroll industry when it comes to salespeople, as 66%* of all payroll service salespeople quit or get fired in their first 4 to 12 months of employment. In fact, I saw one payroll service owner hire and fire four salespeople and one sales leader at the cost of $200,000+. By the way, each person was employed, on average, for 6.4 months. Ouch! 9 Tips To Help You Avoid Hiring The Wrong Salesperson. If you want to hire a sales professional, I have listed several tips for you to consider below. Tip #1: Review Your Hiring Process – Before you hire a salesperson, review the following:
Tip #2: Pay A Bounty - Go to your staff, database of contacts, and vendors and say, “I will pay you $5,000 if you can help me recruit a salesperson.” By the way, you will only pay the $5,000 if the salesperson produces $X in revenue in their first 12 months of employment (a lower amount based on employment/revenue produced). Tip #3: Check References – Reference checking is critical when hiring a salesperson as 57% of all people embellish their resume when it comes to their “skill set,” according to a careerbuilder.com survey. Tip #4: Ask Their Past Employer(s) This Question - “If you had the chance, would you hire <first name> again?” Their response, or lack of an answer, will be eye-opening. Tip #5: Look Deep Into Your Rolodex, LinkedIn Contacts, And Vendors - When you have an open sales position, reach out to your contacts to see if they know of anyone who might be interested in a sales position at your company. Tip #6: Test Candidates On The Computer – Before you hire a salesperson, test every candidate on their ability to type as there is a direct correlation between technology skills and sales success. Tip #7: Don’t Hire Salespeople Who Will Work From Home - If you can avoid it, hire a salesperson within a reasonable driving distance from your office. Tip #8: Develop A Formal Onboarding Process - BEFORE you hire a salesperson, make sure you have a formal onboarding process (sales training manual, sales tracking reports, databases, sales scripts, etc.). Tip #9: Mandatory Things To Do - BEFORE you hire a salesperson, do these two things:
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 SellMorePayroll.com 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 You. He also writes blogs for LinkedIn and other national websites. © Drip Marketing, Inc. All Rights Reserved May Not Be Used Without Written Permission. Thursday, July 28 2022
 Why Payroll Salespeople Need To Keep Score
There is no getting around it; the payroll sales profession is a numbers game. And as with all games, you need to keep the score of your wins, losses, and other vital sales performance statistics. Unfortunately, many salespeople (and their sales leaders) don’t have the discipline to track their sales activity or performance. Specifically, they do not:
Although a proposal pipeline report is the lifeblood of a salesperson, all payroll salespeople need to track:
Here’s The #1 Reason Why You Need To Keep Score. Tracking the right sales activities exposes all the under and over-performing areas for a salesperson as it's critical to a salesperson's short/long-term success; therefore, I recommend having an accountability friend or team leader to help a salesperson stay laser-focused on their sales goals/quota. 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 SellMorePayroll.com 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 You. He also writes blogs for LinkedIn and other national websites. © Drip Marketing, Inc. All Rights Reserved May Not Be Used Without Written Permission. Tuesday, July 26 2022
 How To Quickly Generate More Payroll
Do you want more sales leads and client/CPA referrals from your e-mail marketing campaigns? If you do, I have listed several tips below for you to implement in the next 7 to 10 days. Tip #1: Segment Your Databases – The #1 thing you need to do is segment your e-mail databases by clients, prospects, and referral partners. Tip #2: Develop An e-Mail Marketing Strategy By Target Audience – After segmenting your databases, you need to develop an e-mail strategy for your database of clients, prospects, and referral partners. Tip #3: Develop A 30-Day e-Mail Marketing Calendar – Create a 30-day calendar of what you plan to send each database on file, i.e., prospect press releases, general newsletters, referral partner refer us to a business client campaign, etc. Tip #4: Set Follow-Up Expectations – Tell your salespeople that they will be required to follow up on a particular campaign (see below).
Tip #6: Always Add A Low-Risk Offer/Call-To-Action – When developing an e-mail campaign, always add a low-risk offer to it as it makes the follow-up process easier for your salespeople. Tip #7: The Day You Send A Campaign – After hitting the send button, wait 90 minutes and give your salespeople an Excel file of the people who opened the campaign, i.e., send the campaign at 8:30 a.m., print databases @ 10:30 a.m., and then start calling at 10:45 a.m. Summary: Your database of clients, prospects, and referral partners spend 4 – 6 hours a day in their inbox; therefore, e-mail marketing is a great tool to help build trust, credibility, and brand recognition for your business in the marketplace. 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 SellMorePayroll.com 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 You. He also writes blogs for LinkedIn and other national websites. © Drip Marketing, Inc. All Rights Reserved May Not Be Used Without Written Permission. |
