6 Core Things That an Agency Needs: The Conversion Mechanism

Transcript

Joe Troyer: So last but not least, I want to walk you guys

Joe Troyer: very quickly through what I call the conversion mechanism. Okay, what I call the conversion mechanism, there is lots of ways at the end of the day, to get people to raise their hand and say, I’m interested in having a conversation with you about what you do, because you are an expert. Right? If you’re not an expert, you don’t have a perfect case study, right? You don’t have good packaging, you can answer the question of what’s your return on investment going to look like? Or what’s lead flow going to look like? You can’t answer questions like that. And you’re a generalist, you’re obviously going to have problems making sales. Okay? And it’s going to be problematic when you’re prospecting.

Joe Troyer: Right? Think about the pitch like,

Joe Troyer: Hi, my name’s Joe Troyer, and I do digital marketing versus Hey, my name is Joe Troyer. I work with roofing companies that want to go from 2 million to 5 million in the next two years,

Joe Troyer: which pitches better A or B?

Joe Troyer: Which one’s better ARB Come on everybody. We got to wrap it up top of the hour here, be undoubtably be nobody wants to buy a business. That’s a nobody wants to buy from a business.

Joe Troyer: That’s a I don’t think you can survive today.

Joe Troyer: I don’t think that you can thrive today in the market without being a specialist without going through the steps that we identified today, without wanting to just blow your frickin brains out. For those of you guys that are successful, you know exactly what I mean. And this is hitting home. So at the end of the day, what doesn’t really matter? Is your lead flow, or is your lead, let’s call it lead generation mechanism.

Joe Troyer: Because as long as you have a lead conversion mechanism, you can jump and you can do different things for lead generation, I’ve helped so many of you guys build lead gen systems, using voice drops, or using cold email. And you guys have frickin destroyed it, right? copying pasting our systems. But frankly, at the end of the day, like, this doesn’t really matter. It really doesn’t matter. What matters is the conversion mechanism.

Joe Troyer: Because you should be able to go to every channel,

Joe Troyer: you should be able to go Facebook ads,

Joe Troyer: and be profitable. As long as you’ve done what we’ve talked about, and have clients quite literally on demand, you should be able to go and do Google ads. If you’ve done what we’ve talked about, how many of you guys could never run Facebook ads or Google ads and turn a profit, you’d suspect

Joe Troyer: if you did it right now. Yeah.

Joe Troyer: But if you just went through and you picked a niche, you defined your criteria, your filter criteria, you came up with the package, right? you built your perfect case study, right? And then you had a conversion mechanism. It doesn’t matter if you were paying top dollar for these leads.

Joe Troyer: Because you know that you can convert.

Joe Troyer: So we got people asking us all the time, like,

Joe Troyer: added visible PPC and out events. And when I run into people, Hey, man, can you run ads for me? wait for your clients, businesses? Or for yours? No, for mine? I know why? Because it won’t be ROI positive. Well, what do you mean, you’re not capable of that? Look, it’s not in my shoes. If you haven’t defined this stuff, how can you expect that you’re going to get a return on any advertising, you’d be having the same conversation with your client, right? So it’s hard, and it’s a hard pill to swallow. Okay, but this is, I think what you need to do to really build a thriving business where you’re not a slave to the business. And that’s ultimately worth something. Right? In two years, three years, four years when you decide to sell it, or even when you don’t decide to sell it if you want to hand it down to another generation and and not run into the ground. Okay, this could be LinkedIn ads. This can be LinkedIn prospecting, this could be cold email, this can be voice drops, the list doesn’t matter. The the lead generation mechanism,

Joe Troyer: the platform, the medium doesn’t matter.

Joe Troyer: As long as you have the conversion mechanism. Give me an explanation mark in the chat, if that makes sense to you. Some people are like Joe, how should I start prospecting? I don’t care pick one. Right? If I were you, I would do you know this one, because this is what’s worked best for me. Here’s an example. Right? But it doesn’t really matter. What you got to be focused on instead is this mechanism. The conversion mechanism. So the conversion mechanism at the end of the day is taking somebody somebody that cold or warm, and turning them into a buyer on the spot. And for me, this is 50% plus of the time.

Joe Troyer: we’ve pushed those numbers to up to 75%.

Joe Troyer: I think if you’re probably over 6070, or even 75%, you may want to look at it because you may be underpricing your services. You may be overselling it a little too much. So anytime that we start tipping over 60%. I’m looking at it and I’m like, Is this too good to be true? Right? Like, are we really pulling on the best buyers? Right? And I start to question this a little bit. So just, yeah, I want you guys to shoot for this number. And it should be as high as possible. But once it’s there, right, and you got a really high conversion rates start to question it. Should you up your prices, right? Should you up your criteria, should you up your filter. Okay, so the conversion mechanism. At the end of the day, we do this for strategy sessions, or strategy sessions or console’s.

Joe Troyer: And I’m going to give you guys the abbreviated version of this,

Joe Troyer: I got training on this for hours, that’ll make your eyes bleed, walk you through every step of the process. That’s not the goal, I want you guys to understand high level what you guys need to be working on and why. So strategy sessions or console are designed to take a person and get them to understand that they are here. And where they’re going is here. And we got to understand the why they want to get here because people buy on emotion. So then we got to lay out that what they’re doing right now. And where they’re wanting to go, that there’s a gap in between there. And what I mean by that is if they keep doing what they’re doing now, and they don’t change anything, they don’t add anything, their business stays the same, that they’re most likely not going to get the desired outcome that they want. If you don’t do this, in a sales pitch, you might as well not even show up to the call, it’s pointless, it doesn’t matter the case study that you have. So you have to identify the gap. And that if they just keep doing what they’re doing, that they’re not going to get there alone. And if they say that they’re going to get there, you need to get them to dream bigger so that there is a gap. Right? If they’re like, all right, so we’re at one and a half million this year, we’re trying to go to 2 million and last year we grew by 50%. This year, we’re going to grow, we think by 40%.

Joe Troyer: There’s no gap, right? If you identify on the strategy session,

Joe Troyer: that there’s no gap, you’ve got to frickin create one,

Joe Troyer: otherwise, you’re gonna have a really big problem selling the deal.

Joe Troyer: So once we’ve built the gap, we got to get them to identify that they’re not going to get there by themselves, then all that we have to do is fill the gap. So we need to say, here’s how you fill the gap. I’m the expert. Look at my case study, right? This is what you got to do. And if you don’t have a case, study, borrow social proof. Here’s a screenshot from Google Maps of a client ranking in your vertical in Google Maps and look at the lead flow that they’re getting. Here’s how we fill the gap. And I can help you get there. If they believe that your to fill the gap is good. They believe that it’s doable, and you’re the right person to fill the gap.

Joe Troyer: All that you have to get them to do is start thinking about their Why?

Joe Troyer: And I know that’s like kind of bullshit. Think about your why what motivates you whatever, but it is it’s true. You’re trying to talk somebody into something, you got to get their emotions involved.

Joe Troyer: So what’s the Why? Why are you going to buy today?

Joe Troyer: Well, because I want to get to this income goal, because I’m working, you know, 16 hours a day as the business owner. And if we can just get to 2 million, I’ll be able to hire another receptionist to take care of a bunch of the duties on my plate and answer the phone as a backup full time when you find that out, and that they’re guilty that they’ve been missing their kids baseball games, right or whatever. The reason is, that’s really behind that reason. You have all the ammunition that you need to close a deal. That’s how I’m able to close 50 plus percent of the time with a one call close.

Joe Troyer: Give me an exclamation point, if that makes sense.

Joe Troyer: And we got to wrap this thing up.

Joe Troyer: its fourth quarter of the year and they haven’t hit their income goals for 2019. So Scott, that’s great. But what’s the motivation? income goal? Why does that matter? Right, figure out the reason behind the why that they gave you. Right? A good theory is just keep asking why get to the next layer of the onion, the next reason why that isn’t enough for you to seal the deal. You need to figure out that the owner right is working too long or isn’t profiting as much as he should be. And so he hasn’t been able to buy that vacation home that he’s been trying to buy and he’s promised his family that he will not you gotta get to the layer behind layer behind layer. Right that they’re getting old and that the hard work is kicking their ass Mike says yeah, and ultimately they want to sell one day and so the multiple that they’re going to get is going to be shit if they can’t figure out their advertising. You figure that out. The deal is fucking done. It is soul and you’re going to get a premium as well. Because they can’t afford not to work with you.




SHARE:
CATEGORY: Ask Me Anything

recommended