epi business development webinar four key metrics to...
TRANSCRIPT
Four Key Metrics to Double Your Business
EPI BUSINESS DEVELOPMENT WEBINAR
Instructor: K. Brooke Norman
(1) Strategy(2)Relationship-focused(3)Data-driven(4)Storytelling
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The Goal:•Attract the right people.•Adopt effective marketing strategies validated with data.•Measure business results to improve performance.
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Filling the Funnel
Leads Funnel in fromDifferent Sources
Inbound StrategiesIdentify Suspects
Nurture CycleEducate Prospects
Time to Qualify Opportunities
BusinessWon
Traffic
Conversion
Leads
Price / LTV
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•Traffic•Leads•Conversion•Price / LTV
Four Key Metrics
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Four Key Metrics
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Buckets Starting Point 25% Growth 100% Growth
Traffic 5,000 6,250 10,000
Leads (2%) 100 125 200
Conversion (18%) 18 23 36
Price 8,000 8,000 8,000
Revenue $144,000.00 $184,000.00 $288,000.00
Marketing Impact: Doubling Traffic
CommonTraffic Tactics
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•PR/Media•Sponsored Events•Social Media
Four Key Metrics
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Buckets Starting Point 25% Growth 100% Growth
Traffic 5,000 5,000 5,000
Leads (2%) 100 125 200
Conversion (18%) 18 23 36
Price 8,000 8,000 8,000
Revenue $144,000.00 $184,000.00 $288,000.00
Marketing Impact: Doubling Leads
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Common Lead Tactics
•Email Marketing•Lead Magnets•Referral•Remarketing
Four Key Metrics
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Buckets Starting Point 25% Growth 100% Growth
Traffic 5,000 6,250 10,000
Leads (2%) (2%) 100 (2.5%) 156 (4%) 400
Conversion (18%) 18 28 72
Price 8,000 8,000 8,000
Revenue $144,000.00 $224,000.00 $576,000.00
Marketing Impact: Move 2 Needles
The impact of two areas results in exponential growth
Do you have a budget assigned to each of the four areas?
Budget & ROI
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Do you know your average ROI (per tactic) and your average CPL?
Budget & ROI
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Filling the Funnel
Ideal Target Watering Holes?
Lead Magnets that Matter?
Nurtured Education?
Ability to Sell?
Priced Right?
Traffic
Conversion
Leads
Price / LTV
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Traditionalists Baby Boomers Generation X Millennials
Birth Years 1900—1945 1946—1964 1965—1980 1981—2000
Gen Nicknames Moral Authority “Me” Generation Gen X Gen Y; Echo Boomers
Key AttributeCommited to
CompanyAbility to Handle Crisis Work/Life Balance Ambitious But Not Focused
Work Ethic Pay Your Dues 60-Hour Work WeekWork Smarter, Not
HarderWhat’s Next?
Views on Money Pay cash Buy now, pay later Save, save, save Earn to spend
Core Value Family/Community Success Time Individuality
Refer to the WMFC Generational Differences Report
Who Are You Talking To?
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Good Marketing?•Right thing.•Right person.•Right time.
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Action Item #1:Create a monthly Marketing Metric report that measures traffic, leads, conversion, and pricing so you can analyze the performance of your marketing efforts (and dollars).
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Action Item #2:Read the book, “Contagious” by Jonah Berger and consider if you current marketing communications follow the guidelines of STEPPS.
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