Attention: 6 Figure Business Owners Who Want To Get To 7 Figures…
Hey… I want to share a really valuable never-told-before business story with you…
The 7 Specific Strategies I Used To Help An Online Company Sell $1.2 Million Dollars In Services In 2016 And How You Can Do The Same
If you’re an Expert, Information or Internet Marketer, or even an online entrepreneur selling $1000 or above services, this post will help you realize what it took one company to go from 6 Figures a year in revenues to 7 Figures and beyond in a very short time.
So here’s the quick version of the story…
I started consulting with a coaching and training company in early 2016 that was sort of doing okay but the owner knew the business had a heck of a LOT more potential.
I spent the next year as the CEO’s right hand guy implementing critical missing components, setting up processes essential to growth, and architecting key marketing and operational systems to help turn the company into A Million Dollar business.
When all was said and done we had generated $1.2 Million in sales selling $5,000 ~ $15,000 coaching & training services.
We spend about $250k in Facebook Marketing Costs to make it happen and in the process our list grew from 3,000 to 15,000 and we added thousands of new people to our Facebook Page and YouTube Channel.
It was amazing!
The reason why I wanted to share this story was to add value to those entrepreneurs who are currently at 6 Figures a year in revenues in their service-based business yet they KNOW they have the capacity to do 7 Figures and beyond.
So let’s dive in.
The 7 Specific Strategies I Used To Help An Online Company Sell $1.2 Million Dollars In Services In 2016 And How You Can Do The Same
Challenge #1: Broken process to generate sales and the inability to turn prospects into customers.
Strategy #1: Launch an agile Facebook Advertising lead generation campaign driving targeted traffic to an optimized high-conversion sales funnel.
I started off with implementing the 3 most critical marketing and sales systems without which a business is unlikely to weather the storms from competition and shifts in the marketplace.
These three systems are:
A. Lead Generation System
B. Prospect Nurture System
C. Client Conversion System
The first thing I did was to put together a super persuasive high-conversion webinar sales presentation that we ran as an automated webinar every 12 minutes.
On the webinar I leveraged the power of story-selling and future-pacing to get the prospect engaged and excited to watch the entire presentation.
We also strategically offered a powerful bribe throughout the webinar in exchange for filling out an application to talk with a coach.
We then setup a variety of different Facebook Ad campaigns that generated very economic engagement, likes, and clicks which we sent to our webinar presentation.
I also worked with the Sales team to help them take these applicants and persuade them to pay us anywhere from $5,000 to $15,000 for our training, coaching, and events.
In summary this allowed us to spend ~$1 on Facebook Ads and generate ~$5 in revenue.
Once this happened, I knew it was about to get a whole lot more fun!
Let’s move on to Strategy #2.
Challenge #2: Poor personal & business branding, overall lack of credibility, and a haphazard online presence.
Strategy #2: Professional photo and video shoots along with enhanced business branding, documentation of social proof, and a brand new “Sales-Funnel-Website.”
It’s hard to get a prospect to give you thousands of dollars of their hard earned money if your branding, marketing, and online presence looks like sh*t.
On the contrary, when you are using the same identically powerful colors, fonts, and other design elements across both print and digital materials in your marketing, you can easily stand above the crowd (since most people’s stuff looks so bad)
After a few professional photo & video shoots, lots of designing of new graphics, and improving the overall look and feel of the brand, we started to actually look like a company that a prospect would love to give $5,000.
We finally because congruent in portraying our brand and solidify our real estate in the prospect’s mind by using the same graphics across our social media properties, websites, emails, and even print and event marketing materials.
A website is likely the first place your prospect will go to find out more about you, and your products, and services. If you do not take advantage of this you are leaving massive amounts of money on the table. It drives me wild to see how many businesses have websites that are just glorified brochures!
So I worked some of my magic and implemented a brand new Sales-Funnel-Website for us that helped in generating leads and moving prospects towards the sale and also made us look like a million bucks.
When all of this was said and done the business looked more credible, powerful, and organized to our prospects that resulted in more and more sales each month.
Let’s go over Strategy #3.
Challenge #3: A disconnected, demotivated, and disorganized team.
Strategy #3: Schedule regular daily and weekly recurring meetings as well as implement the latest communication, collaboration, and task management tools & systems.
When I got to the company there was no solid way for the internal team to regularly communicate, store files, collaborate, or work together to get things done.
Most of the team members were involved in multiple projects fulfilling multiple roles.
If your team is disconnected, demotivated, disorganized and does not utilize standard best practices to stay in sync with each other and the day to day operations, you will have a difficult time scaling from 6 Figures to 7 Figures.
I proceeded to use a variety of tools and strategies to bring the entire team on the same page and working together in sync.
I established daily and weekly meetings as well as utilized the latest technology and systems to get the company organized and the team working together in harmony.
We started using Slack and Private Skype groups to communicate internally in real time, Google Apps for email and document storage & collaboration, Docusign for client contract management, as well as a number of other very powerful tools and applications.
I also documented each team member’s roles & responsibilities, as well as helped them document their own day-to-day Standard Operating Procedures, which were subsequently organized into an Operations Manual for the entire company.
This allowed everyone on the team and specially the new hires to always know where to go whether they were looking for a document or had a question about a task.
It definitely took some work, but then again how bad do you want to get to 7 Figures?
On to Strategy #4.
Challenge #4: Missing key roles and positions within the company essential to growth.
Strategy #4: Create a system to onboard and hire new talent, as well as partner with specific contractors on an as-needed basis.
When I got to the business there were about 8 team members. When I left 10 months later, there were 22, along with a handful of key contractors.
I created templates and processes that we used to post new job positions, screening candidates, interview candidates, and test them for a 2 week period. This enabled us to quickly hire key marketing positions such as a full time designer, developer, video editor, and a social media representative.
My aim was to put together a solid team that genuinely cared about what they did and were willing to go above and beyond to ensure not just our success but also that of our clients.
What happens in most businesses is that you have too many people trying to do too many different things and ultimately the end result is things take too long to get done, projects never get finished and rolled out, and your existing customers have a sub-optimal experience with your business.
The better way to go about it is to hire specific people to handle specific roles across multiple projects starting with the marketing and sales division. Most of the new hires I made were virtual employees based in the Philippines making less than $500 a month.
Talented designers, developers, programmers, video editors, social media representatives, paid traffic specialists, and other supporting staff are all critical to attain a Million Dollars in annual revenues.
That’s 4 down, only 3 to go…
Challenge #5: Lack of clarity in how much money are we spending and how much money are we generating.
Strategy #5: Clear identification, regular tracking, real time measurement, and review of Key Performance Indicators along with bookkeeping and online accounting.
Business pretty much comes down to math. You have to know exactly how much it costs you to acquire a lead. A customer. A sale.
You also have to know how much is that lead or customer worth to you initially and over the course of a year. And you also have to clearly know how much is it costing you to run your business down to the dollar if you want to be in The 7 Figure Club.
So what I did is setup a combination of automated and manual reporting systems that consisted of Improvely, Google Analytics, Google Sheets, and several Visual Stats dashboards.
These tools tracked Key Performance Indicators in a variety of different areas in the business from visitors on our website to number of new leads to project sales revenues.
We also hired a bookkeeper and invested in QuickBooks online which is a very powerful tool when it comes to organizing a company’s financials. This allowed us to start generating monthly P&L statements that clearly showed where the money was coming from and where it was going.
This enabled us to clearly see how much were we spending each to generate a lead, a phone appointment, as well as a sale. We were also now clearly able to see how the company was doing each month and how much it cost us to operate the business.
Let’s move on to Strategy #6.
Challenge #6: Lack of smaller commitment front-end tripwire products to generate buyers and break even on Ad Spend.
Strategy #6: Hold a client fulfillment event with a professional video crew to capture marketing materials and create new products used to generate buyers.
One of the smartest ways to generate high dollar sales is to pitch to buyers only.
By having a few $7~$27 products will allow the mass market to sample you before feeling comfortable enough to go for your higher ticket items. This also allows you to cover a part of your Ad Spend as well as setup opportunities for 1 Click Upsells.
So what I did is setup a 3 Day LIVE event with our clients as well as other paid customers. We made sure to get all the banners, backdrops, and other marketing materials need to make us look like a million bucks so that we could get it all on video.
I also setup several different presentations throughout the LIVE event which were then recorded and turned into several high quality front end digital and physical products.
We also took parts of the $5,000 coaching program and got the content transcribed, edited, and composed into a $1000 home study course for those people who could not afford the high ticket coaching.
Right after the event we took all of the marketing materials and heavily promoted our new front end products to get a surge of leads and clients which is when we experienced some of the best months in sales!
And finally, Strategy #7.
Challenge #7: Missing prospect nurture and warm-up marketing campaigns.
Strategy #7: Craft powerful and ongoing content marketing to add massive value to our list, fans, and followers.
Most 6 Figure business owners are caught up in “burn and churn” mentality where they are constantly out looking for “fresh blood”.
An often-overlooked area in the marketing arena of those same businesses is taking the time to properly nurture and educate your existing leads and prospects.
So I made sure to regularly send out a daily broadcast email to all of our leads and prospects. Every Single Day Monday Through Friday!
These emails consisted of all different kinds of digital content, giveaways and contests, sharing lots of social proof, as well as promoting many of our products and services.
The more consistently we sent out that daily content and value packed email, the more our list loved us and they more they were interested in learning from us.
We also took the same emails and shared them in our Private Facebook Group, Fan Page, Blog, and several other online properties. Since this was all original content, it helped us gain more traction and credibility within our marketplace!
Eventually many of our prospects started to apply and inquire for our products and services directly from the P.S. statements in these emails and posts!
And that completes Strategy #7.
And my friend… that’s how I helped take a service based business from 6 Figures a year to 7 Figures a year in just under a year.
Now… I got a few questions for you…
Did you resonate and relate with what I shared?
Would you like apply all the above to your business?
Would you like my help with making it happen?
Lucky for you I am looking to take on 3 new clients to help them implement all of above and MORE in their business.
You must be in a position to pay for my time, paid advertising, and provide other resources.
If you would like to be one of the 3 people to work with me this year to grow their business to 7 Figures and beyond, send me a private message.
I guarantee you I will have all 3 slots filled before the month is over… so message me now if you’re sick and tired of being STUCK at 6 Figures a year and you’re ready to go to 7 Figures!
And for the rest of you, I hope you got tremendous value from this article… I would love to hear your comments and thoughts!