How about a 700% return on your marketing efforts?

WARMnet Newsletter Prospecting System ROI

I was asked a question recently about our newsletter system. It went something like this “Jim, what kind of money can I make using your newsletter system?” I thought I would put together some numbers (based on actual open and click rates) and try to give both my clients and prospective clients an idea just what the opportunity can be. In our program, we send out a newsletter every two weeks and help you find subscribers in your area to send the newsletter too. So if you had a subscriber base of 1000 prospects the numbers would look something like this:

26 newsletters per year

1000 subscribers (prospective clients that own a business)

13,000 newsletters sent per year.

1^st year cost of the newsletter plus database building is $5,373.00

With an open rate of 14% (the average is 20%) you would have 3,640 subscribers open

your newsletter during one year.

If only 10% of your subscribers that opened your newsletter read an article you would have 364 prospects reading your articles. (Articles read is currently averaging over 14%).

If only 20% of these readers turned into actual face to face meetings you would directly be presenting your services to 72 prospects. If we assume a close rate of 25% and annual billings to each new client of $2,000 per year, your ROI would be in excess of 500%.

At an average billing of $3,000.00 your ROI approaches 700%.

Keep in mind the businesses we feel you should target are the more established businesses in the $350,000 and up range. These figures also do not reflect the revenue that can be generated by cross selling other services to current clients, or the help the newsletter gives you in client retention.

If 18 new clients with billings of $36,000 to $54,000 or even more would be of interest to you we can help.

For more information call Jim Crenshaw at 214-550-0526 or email me at jim@crownjackgroup.com

Negotiation: The Game of Life

Negotiation: The Game of Life

This is the first in a 12 part series on negotiation by Jim Crenshaw

CEO of the Crown Jack Group.

Negotiation is a part of every day life. Every day we are faced with differences, conflicts and relationships that need some sort of adjustment. Negotiation is the energy of almost any relationship. It can be positive or negative depending on how it is handled. For everyone from a small child to the oldest adult, life is about influencing others. It could be a client, a staff member or someone at the IRS. We are always trying to get others to agree with us. Whenever you are behaving this way, you are playing the game of negotiation. With that in mind always remember that the worst person you can negotiate for is always yourself. This is true with just about everyone. Our emotional involvement in the process of negotiation limits are abilities in other areas in which we would normally excel. We tend to care too much about the issue and it clouds our ability to see issues from all sides.

This lesson came to me very early in life when selling a business. It was a business I started at the ripe old age of 25 and at 35 the opportunity to cash out presented itself. My valuation of the business was somewhat higher than the offering price of my prospective buyers. I of course was the lead person on my team. The team consisted of a long time mentor, my CPA and my attorney. I of course was leading the negotiations because who knew more and was more business savvy than my team? Never mind that they had a combined 77 years of experience. You can see where this is going, can’t you?

I was upset because my team was not giving me a set path or structure. They kept telling me to relax and see what happens. Relax…are you kidding me? So obviously they needed me to structure the sale. What I should have been doing was holding back and trying to find out from them why the other party thought their offer was fair. I needed to understand their point of reference. We have all heard this before “your price is too high.”

Well the back and forth went on for several weeks and finally a meeting was called. About 45 minutes into the meeting, my counsel called for a break and I was escorted into the hallway. I was informed that if I did not allow my team to lead the meeting they were going to step down. This came as a shock to me to say the least. However, it was exactly what was needed. They informed me that I was the problem, and that if I wanted to sell the business I needed to step away from the table. I was to emotionally involved to be affective.

I walked back into the conference room and informed my prospective buyers that my input was no longer needed and the rest of negotiations would be up to my legal counsel and my CPA. I told my prospective buyers that they had full power to negotiate both the sale price and terms. With that we all shook hands and I left the building. I did not wait in the lobby or hover outside. I left the building completely. It was the hardest thing I have ever done. Oddly enough without my involvement the sale went quickly and smoothly, and it was a better deal than was expected for me.

The problem was that I cared too much to have enough detachment from the sale. Detachment is very important for success. In sales we call it the ability to take the deal off the table and walk away. For those that have been through our sales training it is known as the “take away.”

Negotiation involves dealing with or managing conflict. There are really 3 ways to deal with conflict, they are:

1. Avoid—If you can see it coming and know that you either don’t want to deal with it or don’t care to any longer deal with that person then you simply choose not to play the game.
2. Diffuse—Address the issue in advance if possible to keep it from becoming worse.
3. Confront—Find an alternative solution where both parties can gain from the exchange.

However, when negotiating think in terms of addition, not subtraction and you will have more positive results. Don’t think of the person across the desk as your adversary. Try to realize that this will not even be a drop in the bucket of your life. It is great to care, but try not to care too much.

This is the first in a 12 part series on negotiation by Jim Crenshaw CEO of the Crown Jack Group, an international sales and marketing consultancy firm. You may contact Jim at jim@crownjackgroup.com

or 214-550-0526. Part two will be in our July 30^th, 2009 newsletter as well as posted here on my blog.

A sale directly because of our newsletter (again)

We were contacted Friday by someone who has read 24 different articles from our newsletter over the past 2 months. This thing really works! For those of you who don't know, we have a very "sales" oriented focus here at the Crown Jack Group. We understand marketing, but we we teach sales. Our marketing has created an opportunity and today we were able to take advantage of it. By the way, I know not only that this person has opened every newsletter we published in May and June, but I know what articles they read. This was powerful in closing the sale this morning. I knew what to ask, and what to ask it about. If you would like a sales newsletter instead of the limited newsletter you have or if you would like one that will work for you, give me a call. My office direct line is 214-550-0526 or email me at jim@crownjackgroup.com

Website ROI for Accounting Firms

4 Secrets to Success - Website ROI for Accounting Firms

by Jim Crenshaw. jim@crownjackgroup.com

A website that does not add to your accounting firm revenue is a lost opportunity. When building a new website or updating an existing website, many small business owners are focused on the design from a graphics point of view. They are concerned with the technology (flash, for example), or the number of pages of the site.

What is important to focus on, though, is your website’s Return On Investment (ROI). Simply put, how is the website driving revenue and helping you to build your business? If you just thought to yourself “it does not” or “I don’t know” then as you market your accounting firm you are not alone.

With those thoughts in mind here are 4 ways to help improve the ROI on your website.

Define Success and Measure

Make sure that you clearly define how the website should be helping to add A and B clients your business. Do you want and expect online sales, leads or newsletter signups? (If you don’t have a firm newsletter then you are falling behind) How many phone calls has your firm received because of your website? Set specific monthly or quarterly numerical objectives and track the results.

Who is Your Audience

You cannot be all things to all people, so don’t try to be. Accounting firm competition right now is heating up as clients are being lost in our economy. The use of “niche” marketing online can help you to differentiate yourself from other accounting firm marketing campaigns. Define the audience you are targeting that best fits the work you do at your accounting firm, and then make sure that your accounting firm marketing plan convinces them that you are the best firm to work with.

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Your Website is an Extension of You

Don’t just make a site just to have one, make a site that helps you grow your client base.

Your main accounting firm business is most likely offline, but even if you are not interested in actual online sales, your web site offers too many benefits and advantages for you not to capitalize on the opportunities.

Develop a Strategic Marketing Plan

Don’t use a free template as a blueprint for your website. Yes, you need a home page, about us page, and all the normal pages you would see on any accounting firm web site. However, beyond these fundamental building blocks, how does your accounting firm marketing strategy convince visitors that you are the accountant they need? What is your accounting firm marketing plan?

If you don’t have a plan then maybe you should call the Crown Jack Group and let us help you come up with one. 866-867-1189 or www.crownjackgroup.com is the first step so make the call now!