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Process plus Technology = Profit System

Profit equals good systems

The Modern Day Profit Formula

PS = P+T

This stands for Profit System = Process + TechnologyProfit equals good systems

To some, having a system for their sales process using online technology to tie it all together is like speaking to them in a foreign language.

Believe it or not there are businesses out their that don’t even have a website. Let alone taking advantage of the power of online technologies to connect consumers to service providers.

Years ago when I was working with a large FMCG company I was employed to convert human sales processes into business system(SAP) processes and back again.

What that simply means is to take what sales staff hide in spreadsheets and get it into a fully automated system so that business decisions could be based on fact rather than hear say. Oppps which sales person would fudge forecasts……….?

When we systemized, I found was that the processes weren’t really the problem in large corporate companies, it was the ability to change in step with customer trends which were affecting profits. There was no evidence to show this before we set up the systems.

Also the internet world was changing so fast (still is) that the big reactive systems were too slow to keep up. In particular the process of working with prospects and using automation to warm leads up (educate them before meeting) making the sale far easier.

So I moved to the internet and started to use the technology available to systemise the steps require to move a prospect from a cold lead to warm lead and ultimately to a client. Yes there is a logical time when you will have to talk to your customer. But all the questions and conversation before that time can be handled automatically before hand.

Profit Systems

Having a system for this means you have something solid to work on. It’s monitorable, measurable and reportable. Therefore not personal. (no one is to blame for missing something)Know where your traffic comes from

Having the ability to review the steps of the process then gives you the ability refine each step and improve incrementally.

Yep that’s right even the smallest of companies can implement a system that will be able to deliver a predicable sales formula which you can work on and improve as you wish.

To Improve the System

Simply measure each step in the process.

In your analysis tools you will be able to set up a measurement goal to see how well your system is working.

Even better still you can see what area to work on to give you the biggest improvement. More predictably how much more income you will make.

If you know that for every 100 visitors to your website, 3 will buy from you, then if you got 1000 visitor you would make 30 sales……… yeah?

To take it a step further

If you got people onto a database and you knew that for every 10 people on your database you made 1 sale,  if you had 1000 people on the database you would make 100 sales.

Now one step on from that.

If those 100 people stayed a customer of yours for 5 years (because you built the relationship with them) and spent $10000 per year with you tat would equate to $50,000 for the life of the customer

Then…………

If you were to sell them more of your services and raise their average spend to $20000 pa well I think you know where I’m going.

So I don’t know what to do or which technology to use!

That’s true. Staying on top of the changing world of technology is tough, that’s where I come in.

What you can do is

  1. map out your sales process step by step. Right from the very first exposure the customer might have. Keep in mind that there may be different scenarios for the way they find out about you.
  2. sit on it a day, go through some more sales and revisit your mapped out process.
  3. think about those question you get asked over and over again
  4. set up a way to display those questions and answers to your prospects (usually via an email automation sequence) If you don’t have a marketing driven auto responder system check out Active Campaigns

I’m not into making extra work for myself

No and it shouldn’t be either

Once set up, the only commitment will be to continually fill your sales funnel. This can be outsourced and you can get back to your best work.

Depending on your strategy and budget filling the funnel can be as aggressive as you like.

We do it for our clients and business and are aware of what works best.

Once again we use systems to monitor the campaign and refine when required.

 

About the Author RussF

As a small business owner with limited resources I had to learn what worked and what didn't when it came to marketing my business. I was sick of all the emails and gurus claiming to be able to get me more business than I could handle. I thought, "if were that easy every one would be over run with customers" So I learnt for my self what worked. By far the best and most cost effective strategy I employed was Direct Response Marketing (where everything I published required the reader to take and action). I have now taken this further and made my website direct response. Now at any point there is an action you can take and it's consistent with why you are on the page in the first place. (Most of the time) If you want to know more about this just reach out to me and we can discuss it.

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