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Four Key Metrics to Double Your Business EPI BUSINESS DEVELOPMENT WEBINAR Instructor: K. Brooke Norman

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Page 1: EPI BUSINESS DEVELOPMENT WEBINAR Four Key Metrics to ...exit-planning-institute.org/wp-content/uploads/... · EPI BUSINESS DEVELOPMENT WEBINAR. Instructor: K. Brooke Norman (1)Strategy

Four Key Metrics to Double Your Business

EPI BUSINESS DEVELOPMENT WEBINAR

Instructor: K. Brooke Norman

Page 2: EPI BUSINESS DEVELOPMENT WEBINAR Four Key Metrics to ...exit-planning-institute.org/wp-content/uploads/... · EPI BUSINESS DEVELOPMENT WEBINAR. Instructor: K. Brooke Norman (1)Strategy

(1) Strategy(2)Relationship-focused(3)Data-driven(4)Storytelling

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Page 3: EPI BUSINESS DEVELOPMENT WEBINAR Four Key Metrics to ...exit-planning-institute.org/wp-content/uploads/... · EPI BUSINESS DEVELOPMENT WEBINAR. Instructor: K. Brooke Norman (1)Strategy

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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Page 5: EPI BUSINESS DEVELOPMENT WEBINAR Four Key Metrics to ...exit-planning-institute.org/wp-content/uploads/... · EPI BUSINESS DEVELOPMENT WEBINAR. Instructor: K. Brooke Norman (1)Strategy

•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

Page 7: EPI BUSINESS DEVELOPMENT WEBINAR Four Key Metrics to ...exit-planning-institute.org/wp-content/uploads/... · EPI BUSINESS DEVELOPMENT WEBINAR. Instructor: K. Brooke Norman (1)Strategy

CommonTraffic Tactics

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•PR/Media•Sponsored Events•Social Media

Page 8: EPI BUSINESS DEVELOPMENT WEBINAR Four Key Metrics to ...exit-planning-institute.org/wp-content/uploads/... · EPI BUSINESS DEVELOPMENT WEBINAR. Instructor: K. Brooke Norman (1)Strategy

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

Page 9: EPI BUSINESS DEVELOPMENT WEBINAR Four Key Metrics to ...exit-planning-institute.org/wp-content/uploads/... · EPI BUSINESS DEVELOPMENT WEBINAR. Instructor: K. Brooke Norman (1)Strategy

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Common Lead Tactics

•Email Marketing•Lead Magnets•Referral•Remarketing

Page 10: EPI BUSINESS DEVELOPMENT WEBINAR Four Key Metrics to ...exit-planning-institute.org/wp-content/uploads/... · EPI BUSINESS DEVELOPMENT WEBINAR. Instructor: K. Brooke Norman (1)Strategy

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

Page 11: EPI BUSINESS DEVELOPMENT WEBINAR Four Key Metrics to ...exit-planning-institute.org/wp-content/uploads/... · EPI BUSINESS DEVELOPMENT WEBINAR. Instructor: K. Brooke Norman (1)Strategy

Do you have a budget assigned to each of the four areas?

Budget & ROI

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Page 12: EPI BUSINESS DEVELOPMENT WEBINAR Four Key Metrics to ...exit-planning-institute.org/wp-content/uploads/... · EPI BUSINESS DEVELOPMENT WEBINAR. Instructor: K. Brooke Norman (1)Strategy

Do you know your average ROI (per tactic) and your average CPL?

Budget & ROI

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Page 13: EPI BUSINESS DEVELOPMENT WEBINAR Four Key Metrics to ...exit-planning-institute.org/wp-content/uploads/... · EPI BUSINESS DEVELOPMENT WEBINAR. Instructor: K. Brooke Norman (1)Strategy

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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www.EPISeminars.comFor future broadcasts and free education, please visit

Or contact our EPI Global Contact, Josh Koza, at JKoza@Exit-Planning-

Institute.org or (216) 712-4244 for more information about joining our

exit planning community.