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by | Jul 11, 2020 | Branding, Marketing, Posts, Web Design

You Need More “Blue Magic”

I have a confession….

I’m a salesman first and foremost.

I love sales.

I love closing deals.

But, I don’t like wasting my time!

I remember when I started out in my first sales job. I got a job working for a mortgage company as an outbound salesperson. The job consisted of calling people that had existing mortgages with our company and then convincing them to refinance into a better mortgage with us at a lower rate. Simple stuff, right? Not so simple. Here’s the thing. As a salesperson you’re swapping hours for dollars. So, if you spend your day calling leads that weren’t very likely to convert your overall hourly pay rate could be pretty low. The goal in sales is not more calls. It’s maximizing each minute of the day. You should be spending as much time on the phone “closing” as possible. Everything else you could be doing aside from locking down the deal will drastically reduce your hourly pay rate. I was calling “free” leads for the company and it was profitable for them but it surely was not profitable for me. I was making hundreds of calls to get just one person on the phone. I ended up trashing my bosses outbound strategy and generating my own referrals. I worked half the time everyone else did and I was able to close the same, if not more business. I was maximizing my time. I was hyper efficient and making $. Referrals are by far the best leads you could get. Solid referrals will convert at 75% +. Referrals are the purest form of “blue magic” out there.

What’s “blue magic”???? Read on….

When I started my own company a few years later I was very aware of what salespeople were dealing with. I was one. In fact, I was the first and only salesperson at my company for the first 5 years. I only called “blue magic”. I had no boss telling me who to call. I loved it. I didn’t have to call garbage any more.

The salesperson can make or break your company. They feed the machine. So, don’t feed the salesperson junk. Ever heard the term; Junk-in = Junk-out ? If I’m going to be calling leads, I want to make sure those leads are super high quality. Yes, that’s “blue magic”. And yes, Frank Lucas a 60’s gangster from Harlem coined the term. See below…

A lot of companies focus on their cost per lead but I always preferred to produce the highest converting lead possible. By creating super high-converting leads you increase the operational efficiency of your sales team and put more money in their pockets while reducing the size of your staff. Your team is lean and mean. Less “Management”, higher paid salespeople and an overall better running, fun environment. It’s what I call good “SALESMAN KARMA”.

So, how do you get “blue magic”??

In order of lead quality….

#1-Referral Program. You should have a referral program and process that drives in referrals every single day automatically. You should be emailing, texting, mailing and keeping in contact with your existing book of business using every single platform possible. Spare no expense to ask for referrals. Give your clients a discount for referring you. Send them chocolates. Buy them bottles of wine. Do whatever it takes so your clients feel appreciated. As they should be. They are feeding your family. Typical conversion rate of referrals are 75%+.

#2-Google and Microsoft Search Ads. This is not a banner ad. This is not youtube or facebook. This is getting in front of the most motivated people on earth when they’re shopping for what you’ve got. People that are searching for what you have to offer will always convert at a higher rate. If you’re not running PPC ads in your business you’re losing money right now. If you could spend $1 every single day and someone will give you back $3 and you’re not doing it then you’re losing $2/day. That’s what most small businesses do. It’s insanity. Typical conversion rate of Search Ad leads are 20%+.

#3-Social Ads. Facebook, Instagram and Snapchat are some examples. You create a series or targeted audiences of people that are hopefully the most likely to buy what you have to offer. You run ads in the form of a video, survey, picture or something else to engage them and they click, opt-in and then become a lead. Typically the cost of this type of lead will be half of what you pay for the google search lead, but the closing % is lower and sales cycle is longer. When running social ads you can create an absolutely insane volume of leads. This can overwhelm a sales person and actually drop overall sales production if these leads aren’t treated differently. If you’re running social ads and you’re producing a super high volume of leads I suggest putting them into a dialer system and dedicating someone to make those calls. Let them do just that all day. I call that position “opener”. Remember, you should be on the phone “closing sales” not just dialing for dollars. Closers get paid. So, let’s get our closers “blue magic”. If the social lead isn’t red hot when it comes into your CRM have someone warm it up via a dialer and then transfer that lead to your closer to lock it down. These leads typically convert at 10%+

Results vary ladies and gents. I can only speak from my own experience and the experience of my clients.

If you’re running a business please make your focus to produce as many high quality leads as possible for your team. If you’d like a little help with this shoot me an email at Nikitas@realtop.com. I’ll assist:)

Nikitas Tsoukales, Blue Magic Aficianado

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