17 simple ways to generate more leads, retain clients and cut costs
Post on 18-Sep-2014
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17 Simple Ways to Generate More
Leads, Retain Clients & Cut Costs17 Simple Ways to Generate More
Leads, Retain Clients & Cut Costs
Who is the NCB?Who is the NCB?
We believe that small business is the heartbeat of the Australian economy and that each one has the right to succeed.
NCB exists to increase the success of small business in Australia. Since 2003 we have worked with personally over 2400 small business owners and their teams – mainly trades and services
Create an environment where business owners have access to the tools, information and resources necessary to help them make better decisions that:• Improve cash flow• Get them more clients• Reduce the # hours worked• Get a better financial return• Decrease stress levels• More of what they desire
Who is the NCB?Who is the NCB?
Success in Business…Success in Business…
Consistent, Sustainable, Predictable…Consistent, Sustainable, Predictable…
The data shows…The data shows…
Top 7 Key Frustrations for Most Businesses
1. Working too hard for little remuneration2. Working under too much stress3. Too much time in the business4. Staff issues5. Not enough customers6. Chronic cash flow7. Insufficient sales skills
What do business owners want?What do business owners want?
1. More time with family
2. Grow and expand
The data shows…The data shows…
• A company fails every 4.6 minutes
• 96% of ALL companies fail within 10 years – with 78% failing within the first 2 years
• The top 5 reasons for business failure: 1. Incompetence (46%) 2. Unbalanced Experience (30%)3. Complacency (12%) 4. Lack of Experience (11%) 5. Neglect, fraud, or Disaster. (1%)
The data shows…The data shows…
Over the lifetime of a business…
• Only 39% are profitable• 30% break even• 30% lose money• 1% ‘unable to determine’
The data shows…The data shows…
And…
• It now cost 3.5 x more in 2013 than it did 20 years ago to reach prospective buyers
• It now takes 8 attempts to reach a prospective buyer compared to 4 attempts 20 years ago
• Therefore ½ the results from previous same efforts are common
The Rules are Changing…The Rules are Changing…
The difference…The difference…
One person opens up a business and you go back 20 years later and he has a job, not a business.
Another person opens up the same type of business and you go back 20 years later and they’re turning over $5 million and profiting $750K per year.
Both had the same opportunity and let’s imagine the same ambition…So what made the difference?
The difference…The difference…
It’s the Skills!Passion, drive and hard work can build a company to $1 million working half days...maybe even $2 million.
But you can’t get to $5M on just hard work. (need a new SKILL set) And surely you definitely can’t get to $10M on just hard work. (need new SKILLS again)
Who here would like to earn 10X more $$$?
Can anyone here work 10X more hours or 10X harder?
Earning potential with your hands?
$1,000s
Think Differently…Think Differently…
Earning potential with
your knowledge?
$1,000,000’s
Think Differently…Think Differently…
Just one idea – acted upon…Just one idea – acted upon…
Are you prepared to change?Are you prepared to change?
Rectangle - Intelligent, strong decision makers, proactive
Triangle - lateral thinkers, prepared to look at all sides
Squiggle - Creative, strong imagination, leaders of people
Circle - Totally pre-occupied with sex and booze
Who are you?Who are you?
What’s been most valuable?
Quick Review…Quick Review…
Generate More LeadsGenerate More Leads
Need to Know…Need to Know…
1.Destination (# Leads required)
2.Lifetime Value of a Client
3.Allowable Cost of Acquisition
Who is your target market…Who is your target market…
Uniqueness…Uniqueness…
Perception…Perception…
Review Brand Touch Points…Review Brand Touch Points…
Speak publically…Speak publically…
Give away information…Give away information…
Strategic Alliances…Strategic Alliances…
Network…Top 25Network…Top 25
Referrals….Referrals….
What’s been most valuable?
Client RetentionClient Retention
Where Did They Go?Where Did They Go?
Why customers leave you…1% Death3% Move5% Buy from a friend9% Sold by a competitor14% Product price
68% Perceived Indifference
How will you know…How will you know…
Success in Customer Retention…Success in Customer Retention…
Low Expectation
High Expectation
A ‘Great’
Experience
A ‘Poor’
Experience
Delighted
Devoted
Indifferent
Disappointed
How do you provide the WOW?How do you provide the WOW?
It’s simple…understand what drives people’s behaviour
The 6 Human Needs
1. Certainty
2. Uncertainty
3. Significance
4. Contribution
5. Growth
6. Love/Connection
Need to Know…Need to Know…
1.Lifetime Value of a Client
2.Allowable Cost of Acquisition
Combine hi-tech with hi-touchCombine hi-tech with hi-touch
Plan the ExperiencePlan the Experience
Critical Touch Points…Critical Touch Points…
1. Pre-Purchase
2. During the Purchase
3. Post Purchase
Educate…Educate…
What is your value add?What is your value add?
Enhance the journey with extras?Enhance the journey with extras?
Just pick up the phone…Just pick up the phone…
VIP them
Post Purchase…Post Purchase…
What’s been most valuable?
Cut CostsCut Costs
Get your team involved…Get your team involved…
Get tough on efficiencies…Get tough on efficiencies…
Negotiate everything…
STOP Discounting…
Outsource/Offshore
Reasons Why Top Companies OutsourceReduce Costs 36%
Focus on Core 36%
Improve Quality 13%
Increase Speed 10%
Foster Innovation 4%
Conserve Capital 1%
Get rid of the D*C%’s
Great Attitude
Bad Attitude
High SkillLow Skill
A
C
B
D
Detonate the Distractions
Focus on a few..Focus on a few..
KPI’s KPI’s
Do you have written, measurable, quantifiable and qualitative Key Performance Metrics for every position?
Make it Visible…Make it Visible…
Have a Scoreboard…Have a Scoreboard…
B.A.M…B.A.M…
What’s been most valuable?
Leadership THINKING…
Scarcity Abundance
Past PossibilityProblem Challenge
Inconvenience OpportunityBlame/excuses Responsibility
ReactSolutions
Small BIG!Stuck
ResentfulRespondGrateful
Fear Love
Environment is Crucial…Environment is Crucial…
Environment is Crucial…Environment is Crucial…
The difference…The difference…
What we have found is…• Most of business owners will…• Hear what we say• Understand it intellectually• Agree with all the principles• KNOW that it is the thing they should
do, and then will…
The difference…The difference…
• STILL NOT DO IT!
What gets in the way?What gets in the way?
What gets in the way?What gets in the way?
Complimentary Strategy SessionComplimentary Strategy Session
What’s your game plan?What’s your game plan?
ACTION!ACTION!
National College of Businesscollegeofbusiness.com.au
Brisbane Gold Coast