Hits, Leads and Conversions-Part 1

While industries shift an average of 25% of their marketing budgets to online advertising, your website has become the forefront of your presence in the market and has enabled us to see exactly how many people called, emailed or viewed the directions to your business. All of these factors aren’t worth a dime if the correct tracking and reports haven’t been put in place to evaluate the effectiveness of your customer relations, email responses and overall conversion ratios for different marketing programs. Even more importantly, you have to actually look at the reports and understand ever bit of information to get the full benefit then use it!

The amount of money a business spends in advertising is irrelevant if nobody can say “what is working?”, “how do we know?” and “where can we improve?”.

Lets start with call tracking, which is one of the best tools a businesscan utilize. Every call is tracked by advertising source, and you can listen to your customer responses, complaints and evaluate the performance of your employee’s phone skills. After one day of looking through one of my clients calls, I noticed several things;

  1. There was no process to ensure that someone always picked up the phone.
  2. People had stopped looking over the inventory and relied way too much on the company website for the latest product knowledge.
  3. Overall morale was good when it was good, and very poor when things weren’t going right for everyone, which dramatically effects overall sales success (Nobody wants to buy a product/service from someone if that person isn’t even excited about selling the product/service).

Let’s start with number 1. The business receives over 1,000 calls in a month, actual phone records would be the only way that we could tell how many incoming calls were made to the location, but most importantly they had no system in place to make sure that phone was getting picked up to answer any customer questions or to even book in an appointment. After listening to just a handful of calls for 1 day, there was one call that was never answered and was potentially a buyer for our products that just needed to book an appointment. Nobody answered it. WOW, even worse is that I heard a Manager say “well I’d like us to be so busy that we don’t even have time to look at our call tracking and notice problems like this”——WRONG RESPONSE. Whether or not business is good or bad, if the phone is ringing every call should be picked up as well as handled professionally. It should be a habit, not a mood.

The Equation is simple:

One call=One more potential sale

Simple equation to solve a very basic problem. If you only look at the stuff that matters when sales are down, then you are doing it all wrong. What is important during bad times is important during good times.

Solution -Initiate a process to make sure someone is always ready to answer a phone call, even if 5 come in at once, they all are potential customers. Test employees daily on product knowledge and hold a high standard. Review call quality daily while simultaneously giving positive reinforcement to sales/service goals.

2-People stopped looking over the inventory and relying on the company website to tell the customer more details about the particular products in-stock, WRONG! Anyone can go on the website to see that information, potential customers are calling to get an enthusiastic viewpoint from someone who has seen the actual product at the store and touched it, looked it over, and found the excitement in that that product. These are the “why buys”, and every product has them no matter what it is, otherwise nobody would ever want to buy your product and you might as well close your doors. Every product question has an answer, no question should have a response of “I don’t know.” The solution is to mandate product knowledge test on a regular basis.

3-Overall morale cannot get in the way of any salesperson’s enthusiasm, personal stuff is personal and business is business. One thing that I’ve learned is that the wolf pack leader’s attitude sets the tone for the rest of the wolves. If the Lead of a sales team is enthusiastic, positive and inspiring, then that whole team will be motivated to follow that person on the hunt to success in the marketplace. If the Lead focuses on the negative, and complains to the sales team about their performance and provides no solution as to how they can improve then they will continue fail or never achieve the potential greatness that they could achieve.

Overall the best thing you can do is start implementing the proper tools to make sure that your advertising is tracked and the sales team is all on the same page. Every ad source can be tracked, whether it be online, phone calls or just overall traffic. If advertising is running, make sure that you look at the overall traffic that has been generated during days that the ads are running, sometimes this is the best tool to find out what is working. More specifically if you have a TV campaign that runs 3 days during a week, compare the leads that are logged in your CRM during those days of the week and also look at the days that follow. In the end you will be able to at least have an opinion on the effectiveness of your marketing instead of being asked the question “Did last month’s campaign work?”, “Well I really don’t know”.

Marketing Matters duh! Marketing Basics are essential

We all know that somehow some way companies need to market products and services to consumers and other businesses. How often do you hear someone say, “what can I do this month to sell a ton of products & services?”, this question is asked every day and usually with a quick solution with minimal long-term results. The bad part about this is tons of marketing companies take advantage of this question and will recommend a company use a quick solution so the marketing company can make a quick dollar instead of looking at the existing marketing tools that are in place at the company.

Looking at what a company already has in place can tell you where exactly to start, and how far they have to go. If the company is already marketing in some sort of way but just needs to give their consumers a push to the “buy” stage, then a short term campaign may work perfectly fine. However if the company has no regular marketing going on to even touch their existing customers, a short term campaign might be the first step in the wrong direction.

Every Marketing plan has it’s basics that need to be done in order to continually “keep top of mind” presence with the existing customer base and in the general market. We also know that your existing customer base in most cases with products and services is your easiest target for continuing sales numbers, plus retention of a loyal customer base is essential for growing your business. Happy customers not only keep coming back to you for products and services, but they can grow your business in two additional ways. First, they already buy something from you so when you expand your product/service offerings they are more apt to buying or at least considering to buy more products from you. Second, happy customers tend to talk which means more business or at least potentially more business for you. Friends love telling their friends about great experiences, it is a fact. Rewarding happy customers with a referral is even better.

The best start to moving your marketing plan forward is a basic marketing plan that retains and engages your existing customers constantly (but without being too aggressive and intrusive). Great ways to do this are through coupons, referral discounts/gift cards/bonuses, email marketing (cost efficient) and more traditionally direct mail (more expensive). If you are in the services industry then all of these ideas can be tailored to your company depending on industry and buying processes, sometimes a great way to keep a loyal service customer is just by using good ‘ole fashioned “relationship marketing.”

For more information, or just to engage in the discussion further CLICK HERE

Call Tracking-More than just numbers

When most companies sign up for a call tracking service the initial goal is for them to see how much response they are getting from different advertisements or lead sources. The mistake that is made is also in the presentation, once the client is sold on the lead tracking aspect the rest of the value that call tracking brings is forgotten.

The more valuable attribute of call tracking is the ability to listen to calls and analyze the way each call is being handled. This gives you the ability to see who is getting the calls, how effective they are at Sales/Customer Service and also decide who needs more Sales training. The listening feature is great for saving a customer that you might not be aware of their dissatisfaction with your product or service. Calls show the incoming phone number so you can easily call the customer back or even look them up in your customer database to have a more complete background of their purchase history.

Finally, missed calls alerts have instilled more value in call tracking numbers. Every phone call that is missed will send an email immediately to all managers to follow and use that info for adjusting Sales staff scheduling. If the Sales staff scheduling doesn’t appear to be he reason for the missed cals then it can trigger improvements in phone up processes so no phone call goes unanswered during business hours.

For more information on the importance of call tracking click here

The Trend of the Market

The end of 2010 marked the first 6 months of Farfetched Studios LLC being in business and we’d like to thank all of our clients and vendors for everything they have done for us.

NOW, down to business. 2011 is going to be the year for growth and New Biz, which brings me to the point, how do you prepare for a whole year’s worth of changes in your industry, market and economy?

Some say, “prepare for the worst, hope for the best”, “constantly analyze everything” or even “go with the flow.”

Our best advice to any company, client or non-client is to read “Who Moved My Cheese”, it reminds us that we need to look at where the profits are coming from, where they previously came from, and where they are going to come from in order to determine your position in the market as well as how the company needs to adapt.

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Do you get what you paid for?

In this day and age there are new “marketing ” agencies popping up every day, there are also a ton of companies starting to call themselves marketing companies. Unfortunately you don’t always get what you pay for and that leads me to my point. Is your pseudo agency looking out for your best interests? Or are they simply just trying to sell you the next new thing that falls on their desk? Also are they doing exactly what they promise? Are they meeting deadlines? Are they paying your media bills immediately after you give them the money to do so?

We have a policy at Farfetched Studios, that is to view every client relationship as a partnership. Why does that matter? It’s simple, you wouldn’t sell your client something that won’t deliver results because in turn they are your partner, a key contributor to your success. Partners need to have a mutual respect for each other and a golden trust, selling products or services that don’t work will make you another person trying to hustle them out of their money. Secondly, sales isn’t marketing—it’s selling. Farfetched studios is in the MARKETING business, not in sales. We pride our business on giving honest opinions, thoroughly evaluated recommendations, and complete marketing plans. Finally, you get what you pay for. What we develop as your targeted marketing plan and what level of the plan you can commit to financially, will be exactly what you get. There is no exceptions.

Want to hear more about who-what-where-how? Click here

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The Importance of Great “Presentation”

As we are working on some new presentation materials, we started to discuss how important presentation is and how it can determine your success. This goes from the basic development of your company name into the form of a logo to building an entire retail facility that focuses on the characteristics that make your brand. Consistency is key, company colors should be present as well as other brand characteristics (i.e.- brand symbols).

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Welcome to Farfetched Studios

We are a few entrepreneurs that have been given great opportunities working for other people.

NOW its time to show the world what we can do. We’ve done everything from traditional media design, production and placement to new age Social Media, SEO and SEM.

Need a logo designed?
Need a Media buy?
Need a SEO Consultation?
Need a “Grass Roots” campaign?
Or maybe you need a full blown Marketing Plan.
We develop brands that stand out from the competition and only use advertising mediums that are effective, cost efficient and cohesive to our overall goals.