Say Hello to My Little Friend: A Business Owner's Most Effective Tool
More powerful than 25,000 likes on Instagram, more efficient than sending 500 carrier pigeons with notes in their beaks to potential customers and more responsive than paying $10,000 for a full-page, Yellow Book ad, the telephone is best tool to initiate oconversations with contacts and prospects.
More powerful than 25,000 likes on Instagram, more efficient than sending 500 carrier pigeons with notes in their beaks to potential customers and more responsive than paying $10,000 for a full-page, Yellow Book ad, the telephone is best tool to initiate product and service conversations with contacts and prospects.
The phone is the most powerful, efficient, and responsive marketing resource for small business owners.
Contacts and prospects, especially at high transaction prices, want to hear from businesses. High priced ($1,000 and up) product and service vendors often must take proactive measures to find new clients or lose revenue due to low productivity.
For example, the legal profession, has thousands of attorneys in every metropolitan U.S. city. Left to luck and chance, the majority of attorneys would not make enough money to stay in business.
Let's say a CPA needs 30 more business clients in a twelve month period. The phone delivers the quickest results. No, not every phone call to business prospects will yield a new client.
What we know at 321 Biz Development is small business owners occasionally have service issues with accounting vendors. If adding 30 more clients took 2,000 outgoing calls, would it be worth the invest time and effort?
If each of the 30 clients paid the CPA $1,000 annually, and it cost $5,000 to add 30 more clients, the first-year return on investment (ROI) would ($30,000-$5,000)/$7,500 is 3.33. Subsequent years ROI are all profit, plus some of the 30 clients may refer to clients to the CPA practice.
Often small business owners spend $10,000 or more for marketing mailers, radio ads, and and/or business directories and receive little to no (ROI). In fact, money thought to be an investment to add new clients turns into an expense because little to no clients were added and monies were lost.
The phone creates an environment where contacts and prospects give immediate responses. There are only three contact, prospect response options: Yes, Maybe or No.
Statistically, the phone marketer has a 67% probability to receive favorable response (Yes or Maybe). And, occasionally, No's become Maybe's, and Yes's over time.
I hope this article encourages small business owners to seek outbound phone services to maximize power, efficiency and response efforts to find more clients.
321 Biz Development trains office staff as outbound phone marketers. Or, small business owners can hire us to support new client goals.
Rick Nappier, President
321 Biz Development