Strategies for Generating More Business Prepared exclusively for The CPE Forum October 19, 2010...

Strategies for Generating More Business

Prepared exclusively for The CPE ForumOctober 19, 2010

Susan Bellows & Associatessbellows@susanbellows.comwww.susanbellows.com413-566-3934

Thank youfor your help.

Today’s Agenda

• DISC: A Sales Tool To Build Rapport

• Tooting You Own Horn (Perfecting Your 30-Second Commercial)

• Strategies For Marketing The Firm (Practice Development)

All PowerPoint slides and Handouts will be available on The CPE Forum website.

You Can't Teach a Kid to Ride a Bike at a Seminar

DISC: A Sales Tool

What Is DISC?

DISC is the universal language of observable human behavior.

•How you walk•How you talk•How you shop•How you drive•How you play

DISC is the language of people watching.

•Tone of voice•Body language•Words•Pace

DISC Self-Assessment:Discover Your Style

D I S C

Compliance Dominance

Orientation: Task-oriented

Need: Right

Motto: Be correct

Percent of Population: 8%

Orientation: Goal-oriented

Need: Results

Motto: Be efficient


Steadiness InfluenceOrientation: People-oriented

Need: Rapport

Motto: Be sincere


Orientation: Idea-oriented

Need: Recognition

Motto: Be stimulating


Cooperative Competitive

DISC: A Tool

A tool, not a label.

DISC: What It Is Not

• Not your personality• Not a measure of your I.Q.• Not how smart you are• Not how skilled you are• Not how experienced you are• Not good or bad.

It’s just information to help you understand yourself and others.

One DISC style is NOT a better style than another.

“I’m Better than You Are.”

ASS-U-ME

80% of our BEHAVIOR

is MOTIVATED by

our NEEDS

DISC: The 4 R’s

• DominancePrimary Need: RESULTS

• InfluencePrimary Need: RECOGNITION

• SteadinessPrimary Need: RAPPORT

• CompliancePrimary Need: RIGHT

Influence

Robin Williams Oprah Winfrey

Michael J. Fox Mother Teresa

Steadiness

Ted Turner Barbara Walters

Dominance

Clint Eastwood Diane Sawyer

Compliance

DISC: The Keys to Adapting Communication

Exercise:

1. Pick the quadrant that is hardest for you to communicate with.

2. Read the Do’s and Don’ts for that quadrant. (1 minute )

3. Pick 1 thing that would have the greatest impact, that you can do differently.

4. Pick a partner next to you… quickly, please.

5. Discuss with your partner what you will do differently. (1 minute each)

Why is this important to you?

Predict

Influence

Plan

Win

“Walk a mile in my moccasins,” goes the saying: Experience the world as I

experience it and you'll understand why I say what I say and do what I do.

Perfecting Your30-Second Commercial

Six Secrets to Tooting Your Own Horn

Six Proven Secrets Guaranteed to Improve Your “30-Second Commercial”/Elevator Speech*

*A cost-free, powerful, marketing tool that answers the question: What do you do?

**TOMA = Top of the mind awareness

1. Paint a memorable picture with words, visuals, or demonstrations to create

TOMA.**

"People don't care about cold facts.

They care about pictures or

stories." - Nancye Green, Founder,

Donovan and Green

W.I.I.F.M.* is our

favorite radio station.

*W.I.I.F.M. = What’s in it for me?

The MEGO Syndrome

(My Eyes Glaze Over)

Six Proven Secrets Guaranteed to Improve Your “30 Second Commercial”/Elevator Speech

2. Know your Unique Selling Proposition (USP)* so that you can answer the unspoken questions: What’s in it for me (W.I.I.F.M.)? and So what?

* What differentiates you from your competition?

Exercise• Who is his market?

• What makes him unique?

Financial Planner Example:

“I work with recent medical school graduates with specializations who face the burden of paying off large school loans while simultaneously building financial security.”

What pain/problem do you take care of?

“What’s in it for me?!”Exercise: What pain/problem do you take care of/What makes you unique?

1.

2.

3.

4.


3. Incorporate customer language (verbatims) into your “commercial.”

Your Words:

“Diminished profits, lack of liquidity, or changing market conditions ...”

vs.

Their Words:

“ Sales are off, cash flow is negative, the competition is eating us alive...”


4. Avoid jargon and acronyms.

– Examples:

• Attest Services• Business Valuations

_____________Ideas from group

Six Proven Secrets Guaranteed to Improve Your “30-Second Commercial”/Elevator Speech

5. Practice, vary, and test your commercial.

– Practice out loud

You want your commercial to sound conversational, not memorized.

– Have different commercials for different audiences

(Continued)


5. Practice, vary, and test your commercial. (con’t)

– Test & time your commercial on anyone who will sit still long enough for you to say it: parents, children, friends, spouse, etc.


6. Ask prospects what their major challenges are before answering what you do.

Let them see that youcare about them.

Clients care more thatyou understand their needs

than they care about understanding your products.

Source: Action Selling eCoach™, Duane Sparks

Perfecting Your “30 Second Commercial”/Elevator Speech: Suggested Format

Hi/Hello. [Pause, make eye contact, smile.] My name is _______________________. [Avoid slurring your name and job title.] I’m a ________________________ [job title] specializing in __________________ _____________________________________________________________________[Focus on how you solve the prospect’s pain/problem.] serving ______________________________________________________________[Cite geographic area served.] For example, _________________________________________________________ _____________________________________________________________________[Describe a credibility-building prestigious client/award/success story.]

Perfecting Your “30 Second Commercial”/Elevator Speech: Sample 1

Hello, my name is Mark Kripp. I am the principal of Eje Associates, a business and financial consulting firm focusing on companies challenged with cash flow, banking and profitability issues. If you know a company on the brink of success or simply on the brink, bring them to the Eje.

Perfecting Your “30 Second Commercial”/Elevator Speech: Sample 2

You know how in this economy, everybody needs to be selling---even if they’re not a salesperson?

Well, we help CPA’s and other professionals who sell services to leverage their time, energy, and money using proven, cost-effective strategies that generate more business.

For example, one of my clients, an attorney for a large Boston-based law firm, doubled his business in two years using one simple strategy that I’m going to share with you today.

Perfecting Your 30-Second Commercial

BusinessWest Article

Strategies For Marketing The Firm (Practice Development)

3 Ways to Build The Practice

1. Keep your current clients

2. Take clients away from the competition

3. Generate first-time clients

Marketing the Firm (Practice Development)

Why? What’s in it for you/the firm?


Why Not?

• Time/energy/effort

• Conflict with billable hours

• Outside of my comfort zone

• Any other reasons?


I can help:

• Time/energy/effort

• Conflict with billable hours

• Outside of my comfort zone

Center of Influence (COI) Marketing

What is a Center of Influence?

Someone who can refer often and effectively. They have influence with people who could be prospects for you.

Examples:

• Banker• Consultant• Attorney

Who is a Center of Influence?

Someone:

• Who is well-connected

• People go to for advice

• People look to for referrals

• Whose recommendations are trusted

• Other ideas?

Why is Center of Influence Marketing Important?

Likelihood of closing a sale:

Conservation of time, energy, and money

Cold call: 1%

Referral: 50%

Introduction: 80%

Four Steps To Doing Center of Influence Marketing

1. Be clear about why you’re unique, and why someone should refer you.

2. Identify your Centers of Influence by industry, type of business, etc.

3. Select Centers of Influence to contact.

EXERCISE

Four Steps To Doing Center of Influence Marketing

4. Determine how to build your Centers of Influence’s confidence in referring you (conviction units):

• Client testimonies• Samples of your work• Attendance at workshops you are presenting• Other

Exercise: Conviction Units

What Else? • Facts

• Data

• Stories

• Analogies

• Expert authority

Identify Your Ideal Clients

Profiles of 3 Types of Ideal Clients

• Community-based, service-oriented financial institutions (commercial bank, savings bank, or credit union) $350 million and up to $900 million -- fewer than 12 branches

• Business owners, consultants, and professionals who sell services, such as CPA’s, Architects, and Attorneys

• Owner-managed business (includes family-owned business) -- The owner still manages the business and makes all key decisions.

Susan Bellows’ Ideal Clients

Exercise: My Ideal Client

Generating Referrals

The “Referral Gap”

The difference between the percentage of business

now being generated by referrals and the percentage desired.

The average business professional feels that there is a 30-40% gap.

Source: Business by Referral: A Sure-Fire Way to Generate New Business, Ivan Misner & Robert Davis, Bard Press, Austin, TX, 1998, page 24.

Top 10 Tips On Asking For Referrals

(Continued)Source: Rapid Results Referrals, Roy Sheppard

1. Realize that many of your clients and colleagues would love to give you referrals if only they knew you wanted their help.

2. Make sure your business is worthy of being referred. Make any necessary improvements before implementing your referral program.

Top 10 Tips On Asking For Referrals (con’t)

3. Write a profile of potential clients. Define them by age, gender, ethnicity, income level, geographic location, size of company, buying power or responsibility, membership of common interest groups, trade associations and business organizations. This will help the people you ask understand what kind of clients you would like.

4. Target anyone you know who would want to help you. Dismiss no one.

(Continued)

Source: Rapid Results Referrals, Roy Sheppard


5. Choose the right time to ask for a referral. Ideal opportunities are when a client offers a compliment about what you have done for them or when they are most happy with your product or services.

6. Ask potential sources open-ended questions such as "Who do you know who...?" rather than questions requiring a "yes/no" answer like "Do you know anyone who...?" Closed questions will not encourage them to think about who they know to refer you to. (Continued)



7. Ensure the person does not feel under any pressure to comply with your request. Give them the opportunity to say "no". If they do say "no", gently try to find out why.

8. Always thank the source of your referral as well as the new client. Sending "thank you" notes is a priority - an essential part of your referral system.


(Continued)


9. Tell every new client at the earliest possible moment in your relationship, that your entire business or service is based on satisfying your clients so much they choose to recommend their friends, family, clients, and colleagues.

10. If you can't or won't ask for referrals, get therapy! [I do not agree with this tip. SWB]


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WHAD’JA LEARN?

Knowledge Minus Action Equals Nothing

K – A = 0

Strategies for Generating More Business Prepared exclusively for The CPE Forum October 19, 2010...

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