Checklist Treasure Triangle What is Drip Marketing? The 7 must-have drips for your business Treasure Triangle Workshop

PowerPoint PresentationIn Your Business
www.TheDatabaseDiva.com 314-485-4350
Treasure Triangle Workshop
25% say they aren’t sure or don’t know much about drip marketing
25% say drip marketing is very important and they’re currently doing it
But 50% say they know it is very important and they NEED to be doing drip marketing
No matter where you fall on the spectrum, I’m going to give you food for thought and hopefully light a fire under you to add this WIN WIN strategy to your business marketing
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Let’s start with the 4 pillars of your company’s personal money map, or as I like to call it, the Treasure Triangle. (See that big diamond in the middle? That’s your database…more on that later…)
I’ll show you how to build a powerful Treasure Triangle, then we’re going to break into groups and collaborate on a “take-home” Treasure Triangle that will lead you right to where your new revenue is.
Sound good?
OK, one of the things I notice about business owners is their inability to focus on marketing.
Marketing is last on the to-do list
There is no marketing plan
So there’s nothing to follow and focus on
It’s ok, I know it’s not your core competency!!
I’ve identified 2 problems resulting from this lack of focus:
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Opportunity Overwhelm!!!
Opportunity overwhelm
You’re bombarded everyday with hundreds of business opportunities and they all sound like you’ll be making a million in no time.
Even if you had time to do them all - which you don’t - there’s so many ways to spend your resources:
website
should you tweet?
The possibilities are endless! And the more you focus on all the different opportunities, the less effective you are.
2013 National Air Filtration Association Conference
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“Hunter who chase 2 rabbits, catch none.”
There’s an old Roman proverb: “Hunter who chase 2 rabbits, catch none.”
It’s not possible to focus on more than 1 opportunity at a time and do it well. It’s better to focus on one thing and master it.
The Treasure Triangle is something you can MASTER!
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2) The 2nd problem is CONFUSION.
This is similar to OVERWHELM, but this problem has to do with not knowing where to start and not knowing the things that have actually worked for your colleagues.
How many of you have marketing systems that consistently work to bring in new and repeat business?
Great! Can we get your names? These are the people who can be great resources for you!
But here’s the thing with confusion.
When you are faced with too many options, you either:
a) Freeze and do nothing OR
b) Try a bunch of stuff haphazardly and never make much progress...which leads to more confusion and frustration.
Either way, your business gets sub-optimal results.
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So the first thing we need to do is build you a Treasure Triangle so we can see what’s working now and what we need to do to optimize more sales to the bottom line.
How many of you have heard, “It’s 10X cheaper to resell an existing customer than to find and sell a new customer?”
OK, great. What that means is THERE IS NO COST OF ACQUISITION with existing customers. Once you have a 1st-time customer, every subsequent order is straight profit to the bottom line.
So what we’re going to focus on today is how to create a foundational marketing plan.
In other words, you MUST have your foundation established before you start chasing other rabbits!
Get out your Treasure Triangle and let’s identify the 4 components:
1. In the center – The Big Diamond -- is your CUSTOMER DATABASE or CRM SYSTEM
And BTW,
Your Outlook address book is not a database
Your accounting software is not a database
A customer database is the “hub” of a hub-and-spoke outreach effort. It’s your #1 business asset and the first thing a buyer wants to know if you have if you try to sell your business.
It’s foundational. It’s your ONE-WORLD VIEW of everything you know about your customers and prospects to generate new revenue
If you don’t have one, stop now. You will be wasting your time and money to continue this exercise if you don’t create one first.
You’ll notice that the Treasure Triangle is an equilateral triangle – all sides are equally important to your business.
Let’s run through the differences between each side
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E-mail Blast / Promos
To your future customers, email blasts like this are the least interesting and least effective in getting their attention
Raise your hand if you’d like to get more email everyday?
That’s because the way most people handle their email blasts is “All about ME ME ME”
BTW, also the strategy likely to get the most opt-outs
Email blasts must be used sparingly and in combination with the other corners of the TT
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E-Newsletter
E-Newsletter
Everyone is familiar with newsletters. Exactly the same as when they were sent out via direct mail, only now they’re delivered electronically.
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You’ll notice something very interesting about the top 2 corners of the Treasure Triangle:
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THE TOP HALF OF THE TREASURE TRIANGLE BOTH CONTAIN INFO THAT’S ALL ABOUT *ME* AND *MY COMPANY*
My products and services
My great service
My lowest prices
But things are about to get very interesting and more profitable…
DRIP MARKETING IS ALL ABOUT *YOU* AND *YOUR COMPANY*
Write “Drip Marketing” in the last corner of the TT
DM Messages answer these 4 ASPIRATIONAL questions:
How will this make me more money?
How will this save me more money?
How will this save me more time?
How will this make me look good?
And here’s the best part:
• Lead nurturing messages get 4-10x the response rate of standalone email blasts
• The average click through rate of a lead nurturing campaign email is nearly 3X that of a standard email.
• Nurtured leads have a 23% shorter sales cycle. (Source: Market2Lead)
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What is Drip Marketing?
“Drip” … as in measured drips of water over a period of time to keep plants adequately hydrated.
Not a flood… followed by a drought
So… planned/scheduled points of contact over a period of time to keep business relationships alive and nurtured
So let’s talk more about drip marketing!
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Build relationship
Presenter: Lori
Law of “X” – Everyone has a different metric, but the point is the same:
Build relationships
Consistency of brand/look and feel/message
people aren’t ready to buy yet
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E-mail
More variety = better interaction
Message repetition is the key to getting attention
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How Long Should a Drip Campaign Last?
As long as the average time it takes to make a sale
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Where Do You Start?
“I’m in a boring business! How can I find exciting content for my industry?”
“How do I coordinate all the pieces and parts? CRM? Email software? Metrics? Aagghh!”
“I don’t have time!”
“I can’t write!”
“What’s the best sequence so I don’t spam?”
I get it!
That’s why we’re going to do our Treasure Triangle Workshop.
We’re going to crowd source this project together
But first, let me give you 7 examples of when to use drip marketing in your business
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Website Lead
First-time Customer
Networking Prospect
Presenter: Lori
Everyday when you go to work, you know certain things are going to happen…
Website lead
Go to a networking event and meet new people
What we can’t know – no crystal ball – is WHO these events will happen with
But we can templatize our response in advance so when these great things happen to us, we just pull the trigger and the follow up happens naturally and automatically
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Website Leads/Inquiries
Presenter: Stacia
78% of sales that start with a web inquiry get won by the company that responds first.
Story 1: Client in the home improvement industry had downloadable brochure
Getting 10-20 leads a day
Website form would send them auto-responder email
Then double-entry the info into their db
He was owner, salesperson, subcontractor, project mgr…couldn’t do it all
Added web form to capture lead and send to the database, deliver the download in an auto-responder, start prospect on a drip marketing campaign
Bought him time to respond
Story 2: (Artisan Precast) Construction Co building sound barrier walls on highways
Tell $25,000 dropped ball story
Top 3 Tips
Must set an auto-responder that goes out instantly after submit button is pressed, then drip marketing response follows
Want more leads? Set up more web forms
Duration of the drip is dependent on the length of your sales cycle
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Case Study: Crest – Food MFG
Working with marketing dept who had no customer contact - doing sales job
Hardest of the 7
Most requested – least effective
Most annoying to recipient
Raise your hand if you’d like to get more email everyday
To be effective you have to be more knowleagable, more trendsetting than your prospect
Be willing to do something controversial to get attention
Top 3 Tips
Read Jill Konrath’s “Selling to Big Companies” – complete cold prospecting drip
Never make email your first contact – don’t spam
Don’t be in a hurry. This one takes time…up to a year or more
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Case Study: GuardMe – security company
Residential sales cycle 5 days vs. commercial sales cycle 1 ½ yrs
Drips make the prospects more receptive to the salespersons phone calls
Easy to follow up once or twice
Harder to maintain over time
Top 3 Tips
Immediate sales follow up, even if the rep doesn’t
Drip lasts as long as the typical sales cycle
Drip must answer the objections of the most frequently asked Qs that prospects want to know—but don’t always ask
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Presenter: Stacia
Event: New product launch party
6 weeks out, started the drip to invite customers and prospects. Target: salon and spa owners, licensed beauticians, cosmetologists and dermatologists
List Size: 600
+ sales calls scheduled for no shows
Winter – bad weather – snow
Regional list – local venue
Suggested webinar instead or in addition to live event – she said no
6 pre event messages and 6 post event
Top 3 Tips
Pre-drip entices and incents them to attend your event/booth – not a sales pitch for your product
Incorporate social proof via social media to show them who else thinks this is a hot event
Post-drip – let them hear from you right away, but don’t lead with your best stuff till they’re ready to concentrate on work again
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After-Sale Drip to boost repeat orders
Open rate 61%...higher than the monthly newsletter open rate they had been sending
Continued the relationship
Reinforced behavior of taking suppliments over extended period of time
80 ailments we are writing drips for (arthritis, high blood pressure, auto immune)
Top 3 Tips
Don’t forget: You have a happy client – signed on the dotted line, but you haven’t earned trusted advisor status yet
He wants to know there is real process for onboarding, make sure he has important contacts within your company
Reinforce reasons customer bought to counteract buyers remorse
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Received a $14K order after his first message was sent
Former customers just need a reminder and a way to contact you
Why aren’t they buying –
no money?
There is no replacement?
Your info is wrong?
Top 3 Tips
Reintroduce yourself and why they were a customer at one point
Confirm they’re still the right decision maker
Treat them like a prospect who doesn’t know anything yet, and get them excited again about your solutions
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Govmnt regulation changes
Affordable health care
Top 3 Tips
Determine when competitors will start contacting them, then you beat them to the reminder
Sell the fear factor – all the bad things that will happen if they don’t re-up, take action
After setting up the fear, show how you are the white knight
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Other Drips
Lost Sale
Referral Follow-up
Presenter: Lori
Pick a trigger
Determine the timing and duration
Decide the ideal way to follow up (email, phone, direct mail, etc.)
Write compelling “big picture” messages
Hyperlink to your “digital assets” (website, SM, blog, industry stats, etc.)
Launch Campaign
Repeat or write another drip to another segment
Repurpose your drip as blog posts and/or SM status updates
4 or 5X a year, I do a DripMarketingCamp where a group of business leaders meet for 6 weeks to knock out a professional drip marketing campaign.
We’re going to do a speed-dating version of that today and attack 1-5 on this checklist right now.
Collaborating speeds up the process and gives you fresh ideas you can take home and implement.
[Vote on drips to work on.]
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Top 7
… And More!
Website Lead
Cold Prospect
Proposal Follow-up
First-time Customer
Inactive Customer
Referral Follow-up
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Checklist Treasure Triangle What is Drip Marketing? The 7 must-have drips for your business Treasure Triangle Workshop