LIFECYCLE MARKETING
Why Some Small Businesses Thrive
(And Others Just Survive)
Infusionsoft
Small Business Growth Seminar
Denny Morrow
So. Cal. Regional Development Director
Denny.Morrow@Infusionsoft.com
c: 949-310-7912
o: 949-326-0400
Why are we here?
1.
2.
3.
4.
Help you grow your business.
More sales from current customers.
Close more sales from prospective customers
Share Infusionsoft insight about why small biz
succeed and fail
5. Introduce new way of thinking about sales &
marketing
6. Give you a personal work book – Lifecycle
Marketing Planner
7. Help you leave EXCITED about opportunities to
GROW
We Help
Small Business
Succeed!
Our 10-year Research Project
Three Questions
1. Why do so many small
businesses fail?
2. Why do some small businesses
thrive?
3. What tools can we offer to help
more small businesses succeed?
WHY DO SO MANY
SMALL BUSINESSES FAIL?
Results of Small Business Failure
• Not enough
customers
• Not enough
sales
• Not enough
money
Three Black Holes
1
2
MULTISYSTEM
MADNESS
ALL
SURVIVAL
MARKETING
3
NO
ROADMAP OR
STRATEGY
Multiple-System Madness
Disjointed systems. Manual work. Lost opportunities.
Survival Caveman marketing
1. Wakes up in the morning
2. TAKES HIS STICK (which has the word “buy from
me” on it”)
3. Goes to find the herd
4. Sneaks up on them
5. Singles out the weakest of the herd
6. Chases them down and beats them with the club
7. Drag back to cave
8. Start over
Am I In Survival Mode?
1. I am always chasing the next deal
2. My marketing is disjointed
(on again - off again, spray-and-pray)
3. I don’t have confidence that our marketing
plan will bring a surplus of customers
[We’ve been there]
Survival Marketing
1. Generate interest
2. Sell to hot leads
3. Get new customers
4. Sigh in relief
5. START OVER
Lost Opportunity
1. Lost traffic
2. Lost leads
3. Lost customers
What does this really mean?
• Lost traffic - marketing is no good without
lead capture
• Lost leads - getting leads and prospects is
useless without lead nurturing
• ( People buy when they are ready to buy)
• Customers - are a “waste” if they are not
followed up and wowed
No Roadmap or Strategy
Work Work Work
Busy Busy Busy
Do Do Do
You work IN the Business vs
ON
You ARE the Business !
What makes some
small businesses
thrive?
Lifecycle
Marketing
The 7 Phases of
The Customer Lifecycle
Visitors
Opt-Ins
Hot
Prospects
Sales
Customer
Satisfaction
Lifetime
Customer
Value
Referrals
Prospects Are
People
IMAGINE YOU ONLY HAD ONE
CUSTOMER
How would you take care of them
PG 7
Know thy Customer
• Basic Characteristics
• Pains, Problems and Challenges
• Benefits They Seek
• Why They Buy From You
• Most Common Objections
• Who is not your target customer
Attract Traffic
AD
What’s
YOUR
Lead
Magnet?
Lead magnets
o
o
o
o
o
o
Not buy from me (the quick sale)
Get information from me to HELP YOU
How can I get people to ENGAGE with me
Why do people keep passing by
The “only” enticement we have is – sale, free, etc
Lead magnets position you as expert
Exercise:
Pick a topic
for your
educational
magnet
PG. 10
Human Healthy Vending
o Started as pure “hunters”
o Created targeted lead magnets
o Grew prospect database by 10x
Gleason Tax
o Spent thousands on marketing
o Getting poor results
o Discovered gold with
educational marketing
Results of Benefit Marketing
(Lead Magnets) for Gleason Tax
• Decreased marketing spend by more than
50%
• At the same time, increased leads by 120%
Big Lead Mistake: Join Our Newsletter
Join Our Newsletter
When was the last time you woke up and said:
“Today I need to join another newsletter...”?
(Answer: 2002)
Opportunity Analyzer Exercise pg 10:
How many more visitors
could you attract with the
right magnets?
Capture Leads
AD
Lead Capture Gaps
Web Traffic that leaves your site
Lead Capture Gaps
• Walk-ins that walk out
• Telephone calls that hang
up
Lead Entry Form
Lead Capture Gaps
• Networking contacts
that leave
• Tradeshow visitors who
walk by
Opportunity Analyzer Exercise: pg 12
Number of additional
visitors we should be
capturing each month,
but are not.
But remember:
Just because you’ve captured a lead
doesn’t mean you’ve earned the right…
TO SELL
It’s about being
Targeted
Building a
relationship
Relevant
Timely
Personalized
To establish trust, educate,
and convert
Nurture Prospects
AD
+
+
The “Why” Behind Nurturing
• 81% of sales happen after
__ or more contacts
• 85% of the time we stop after
__ or __ contacts
The Cost of Not Nurturing
10,000
(audience)
And the Other
90 Responders?
 Fall through the cracks
 ZERO follow-up
100
(responders)
10
(customers)
 They'll go to your
competitor!
The Benefit of Nurturing
10,000
(audience)
100
(responders)
+5
+5
+5
10
(customers)
+25
Human Healthy Vending
• Were spending 8-10 hours per prospect
• Changed model so reps only talked with
qualified, educated prospects (magnets)
• Decreased time spent selling by 75%
• They operate like a 20-person
marketing department
• Grew from 0 to $5M+
in 3 years
Marketing Sherpa 2011:
Lead Nurturing – Campaign Steps
Step #1. Nurture the fresh leads first
Step #2. Maintain an on-going email program
Step #3. Design Long-term “tips” email series
Step #4. Avoid overwhelming the audience
Marketing Sherpa 2011:
Lead Nurturing – Campaign Results
The team's average sales cycle is under 30
days, yet they now see:
• 37% of customers come from leads
generated over three months ago
• 20% of customers come from leads
generated over a year ago
Opportunity Analyzer Exercise: pg 14
Number of prospects we
“drop” each month
because they aren’t ready
to buy “today”?
( People buy when they are ready to buy)
Convert Sales
AD
+
+
Steps to Converting MORE Sales
•
•
•
•
•
Magnets and Education
Nurturing
Targeting
Better Qualified Prospects
Michel Gerber on Systems:
• “The True product of a great
entrepreneur is an Intelligent
System!”
Opportunity Analyzer Exercise: pg 16
How many more
prospects may have
bought with the right
Nurture and offer?
Know your Target Client
Deliver and Satisfy
AD
+
+
+
+
Wowing the Customers
+
Great Customer Service =
Low Cost Marketing and
Customer Retention
Opportunity Analyzer Exercise: pg 18
How many customers
STOP doing business
with you each month
because you failed to
WoW them?
or from INDIFFERENCE !!!
Upsell Customers
AD
+
+
+
+
Nurture Creates Upsell
• Upselling customers is more
profitable than acquiring new ones
• Repeat customers:
• spend an average of 67% more
than new customers
• are 6-12 times cheaper to sell to
Bain and Company, 2012
Avg. Transaction Size
Increased by ____
27%
Attract
Traffic
Capture
Leads
Nurture
Prospects
Convert
Sales
Deliver
& Satisfy
Get
Upsell
Customers Referrals
$400 Upsell
$400.00 Upsell
What Are Your Fries??
And can you think of ways to best deliver them?
Get Referrals
AD
+
+
+
+
Advance Referral Strategy
Ask For Them.
Gleason Tax
• Launched customer referral program
• $10 gas card
• Tax clients automatically got an email.
• Doubled referrals
Suggestions on Asking for Referrals
•
•
•
•
•
•

Emails
Phone Calls
Thank You Cards
Competitions
Special Events
Just After You WoW’d Them
Systematize and Automate as
much of it as you can
Opportunity Analyzer Exercise: pg 22
Number of lost referrals
each month?
The 7 Phases of
The Customer Lifecycle
Opportunity Analyzer Exercise: pg 23
Total Value That Exists
in the Gaps you have
Today?
Is Lifecycle
Marketing for You?
•
•
•
•
•
•
•
Attract and Capture More Leads?
Nurturing Prospects?
Close More Sales?
Delivery & Satisfy & WoW Your
Customer?
Upsell and Enhance Lifetime Value?
Generate More Referrals Systematically?
Do you want to Grow?!
WE HELP SMALL BUSINESS SUCCEED!