The Importance of Business Process
The rationale goes something like this. “I know all this stuff. I know some people who could use my stuff!”
“Most of all I have to get the message out, find some people to buy my services so my business is successful. So I can go on doing what I love doing”.
So we typically find a few things we do, like particular advertising, building some referral sources and collaborating, however much of our business comes in randomly or when we are in a cash flow pinch and turn on the emergency selling process.
How do you know when you have a process? You know when you can measure the action and result of each marketing/sales initiative over time.
A classic example is the funnel. Advertise to a demographic, in a newspaper for example and measure the number of leads, then the number of sales that result.
When we get busy it may become,
“Hey, that ad worked pretty well. Why don’t we run that ad again.” And if that is working for you, don't stop!
With a process it could look like
- Write and save the ad
- Measure the leads (for example asking “Where did you hear about us?” with all new calls.)
- Keep track of all new contacts who were interested (potential buyers)
- Send thank you note/card/email to potential buyers and start an auto responder series/newsletter/regular contact
- Include an incentive or simple request for references
- Complete all immediate sales – close them – and keep track of the numbers
- Ask for references directly or in follow up
- Follow up with each new sales for service and cross sell/upsell
- Start newsletter/email with new customers
2 days advertising exposure: 1,720,000 members demographic
2 webinar sign-ups
Peripherals – received one direct email and one LinkedIn contact as a result of the ad, 2 references. One started business discussions and did not close. The other is still in process. Webinar is being re-scheduled.
By varying factors such as writing a different ad and varying the demographic I can test to see which works best. The process means I can measure my return on investment and know how to bring in business regularly.
Have a question for Cliff or want to leave a comment?