SURVIVE & THRIVE
Learn how to grow your business profits through digital marketing. Topics include:
* The five factors that drive profit
* The most effective online marketing channel
* How to get more leads with Google My Business
* 7 website features to increase conversions
This was presented by Richard Pearce from DOLLARS as part of the Open for Business series of webinars organised by Ku-ring-gai Council and the City of Ryde. A replay is available at https://www.dollars.com.au/open
5. 5FACTORSTHAT DRIVE YOUR PROFITS
Leads
Conversion rate
# of transactions
Average $ sale
Profit margins
6. PATHWAYTOPROFIT
FACTORS NOW
Number of leads 4000
Conversion rate 25%
Customers 1000
# of transactions 2
Average $ sale $100
Revenue $200000
Profit margins 25%
Profit $50000
7. PATHWAYTOPROFIT
FACTORS NOW +10%
Number of leads 4000 4400
Conversion rate 25% 27.5%
Customers 1000 1210
# of transactions 2 2.2
Average $ sale $100 $110
Revenue $200000 $292820
Profit margins 25% 27.5%
Profit $50000 $80525.50
Increase 61%
8. •Average number of transactions = 1
•How do you increase margins?
•Money
•Time
•Energy
•Skill
WARNING
IN THEORY, THERE IS NO DIFFERENCE BETWEEN THEORY AND PRACTICE.
BUT, IN PRACTICE, THERE IS.
WORK ON YOUR BUSINESS, NOT IN YOUR BUSINESS
9. PATHWAYTOPROFIT
FACTORS NOW +10% Reality
Number of leads 4000 4400 4600
Conversion rate 25% 27.5% 28.75%
Customers 1000 1210 1323
# of transactions 2 2.2 2.3
Average $ sale $100 $110 $115
Revenue $200000 $292820 $349801
Profit margins 25% 27.5% 21.5%
Profit $50000 $80525.50 $75207.27
Increase 61% 50%
19. 5FACTORSTHAT DRIVE YOUR PROFITS
Leads ✓
Conversion rate ✓
# of transactions
Average $ sale
Profit margins
20. Claim listing
Optimise listing
Check third party listings
Develop review acquisition strategy
(incentives not allowed)
YOU CAN DO THIS STUFF!
SURVIVE&THRIVE
ACTION POINTS
28. Who are your customers?
What do your customers really want?
Where are your customers located?
When do your customers buy?
Why do your customers buy?
How experienced are your customers?
CUSTOMERS BUY FOR THEIR REASONS, NOT YOURS
SEGMENTATION
WHO? WHAT? WHERE? WHEN? WHY? HOW?
33. AFL Auskick - https://play.afl/auskick
Ogalo - http://www.ogalo.com.au
Dragonfly Cafe - https://edengardens.com.au/pages/about-our-cafe
Turramurra South PO - https://www.turramurrapost.com.au
TurraTots - https://www.turratots.unitingchurch.org.au
MARKETING IS NO LONGER ABOUT THE STUFF THAT YOU MAKE, BUT ABOUT THE STORIES YOU TELL
VIDEO
A VIDEO IS WORTH 10,000 WORDS
35. Photos are flat - tours are immersive
Stand out against your competition
Provide confidence / assurance
Add to Google My Business
Great for social media
VIRTUALTOURS
DON’T TELL ME, SHOW ME
37. Get the lead/sale
24 / 7 / 365
Self-managed
Fewer no-shows
Less workload
Connects to your existing calendar
NEVER ASK “WHEN ARE YOU FREE?” AGAIN
ONLINEBOOKINGS
AKA SCHEDULING
39. Help your customer along the buying journey
No price = expensive
Competitors already know your price
Use website to sell the value
Eliminate price shoppers
Too hard? Create a package
PRICING
SHOULD YOU PUBLISH YOUR PRICES?
42. Instant answer = instant purchase
Competitive advantage
Multi-task - you and customers
Fast answers - eliminate email back and forth
Use as your contact form
Use as your MWR
80% OF BUSINESSES BELIEVE THEY DELIVER SUPERIOR SERVICE - ONLY 8% OF CUSTOMERS AGREE
ONLINECHAT