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- You Just Uncovered Hidden Marketing Gold
You Just Uncovered Hidden Marketing Gold
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š This is weekās growth hack: Uncovering Hidden Marketing Gold
My buddy runs a 7-figure a year coaching business and asked me to lunch two weeks ago to advise him on his marketing & sales funnel for 2024. Hereās the transcript of what went down:
Friend: So last year, Iāve closed 12 new clients on average every single month and this year I wanna do 15 consistently every month, how do I do that?
Max: So a modest 25% increase?
Friend: Yup!
Max: How many sales calls are you taking on average per month to close 12 new clients?
Friend: About 60 sales calls a month with qualified potential clients
Max: 60?!?!? And youāre only closing 12?!
Friend: Yea, is that bad?
Max: A 20% close rate from the Founder taking the calls is def not great ā¦ Whatās the #1 reason people donāt close?
Friend: Almost always timingā¦ they say they want to make another hire before they sign on for my coaching program or want more cashflow or something like that
Max: So sales 101 teaches us that when people say timing, not always, but most of the time, itās because they havenāt been compelled enough to purchase right nowā¦ so can we agree ātimingā is just a catch-all for BS?
Friend: Sure, I guess
Max: What happens at the end of these calls?
Friend: I schedule a follow-up for when they say timing will likely be better
Max: Then what happens?
Friend: They either donāt show up to the next call or they get on, say they are going to pay, and rarely do. I currently have 20 people in the last 30 to 45 days who all gave me verbal yes commitments but havenāt actually paid yetā¦
Max: Did you ask them for their credit card details on the call to check them out right there? And set next steps together right there?
Friend: Noā¦
Max: Alright well letās def get in the habit of thatā¦ but let me ask another questionā¦ how many case studies or testimonials do you have?
Friend: Iāve worked with 800+ clients and have at least 300 five-star testimonials having done this for the last 4 years.
Max: And this whole year you have gotten on the phone with 60 qualified potential clients every month on average, closed 12 of them every month on average, so thatās 50 potential clients you havenāt closed every month aka about 500 for the year?
Friend: Yea I guess
Max: Ok what I want you to do is email all 500 of those people every single Monday afternoon with a different detailed testimonial with the subject line āhow Suzy accomplished Xā and then in the body of the email say Suzy worked with me because she was struggling with Y so we did A and B and C together and she accomplished Xā
Friend: Woa
Max: Every. Single. Monday. To those 500 prospectsā¦ then put a button at the bottom that says if you want similar results, tap here and hereās how we derisk it for youā¦ you have 300 testimonials right?
Friend: Yea
Max: Thatās 5 years worth of Monday case study emailsā¦ and every week you add the people who didnāt close to that listā¦ and take off the people who did close
Friend: Thatās genius!
Now fast forward to todayā¦
RESULTS: Heās sent out two of these emails so far, the first one he closed 4 new clients from and the second he booked 9 calls (Iām waiting on closing details) from. Every single one is a person he took a call with in the past 4 years but never closed !!!
He still needs to fix his actual sales call process because 20% is way too low but it just goes to show you:
The power of constantly reminding anyone who has ever heard of you or considering purchasing from you (or your email list if you are not in a space that collects leads) just how valuable your product or service is through proof and storytelling is hidden marketing gold youāre just sitting on. Itās one of the fastest ways to increase revenue in the game.
How are you going to use this weekās Growth Hack to get more calls or customers this week? Respond and let me know š
What did you think of this week's Growth Hack? |
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Thatās it for this week!
Talk soon,
Marketing Max
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