Your SEO team is hard at work finding ways to improve your Internet Marketing Strategy on a daily basis. They provide you with instruction, direction, and facts to help you succeed. It is up to you to carry out these tasks to improve your business.
I’d like to review a few facts that have been previously shared with you:
-Posting ads on free classified sites does bring traffic to your site.
FACT – One location doubled their organic traffic by updating the same ads on the same site (Craigslist.org) repeatedly.
-Listing your business in Free Business Directories does bring traffic to your site.
FACT – Your competition that is ranking higher than you organically is listed in more Free Business Directories than you are listed in.
If your organic ranking is not optimized, you are missing business. If updating these listings yourself is difficult, consider training a family member, your lab tech, or paying someone to maintain your organic ranking.
Here are a few sites that your competition is listed on. If your business has not yet been listed here, you should take 20 minutes and do list on these sites:
Merchant Circle
Magic Yellow
Super Pages
Sunday, November 30, 2008
Wednesday, November 26, 2008
Happy Thanksgiving
Often we get so caught up in building our businesses, that we forget what is most important in our lives - family, health, and faith. Over the next few days, as we stuff ourselves with turkey and all the fix'ins, let us all reflect on the bountiful blessings of life we are afforded in this country.
As the financial uncertainties have emerged in the last year, we can be truly grateful for living at a time and place that allows us the ability to take control of our destiny, which in turn enables us to provide for our families. This is truly the source of the greatness of the United States of America.
Have a happy and restful Thanksgiving with your families.
As the financial uncertainties have emerged in the last year, we can be truly grateful for living at a time and place that allows us the ability to take control of our destiny, which in turn enables us to provide for our families. This is truly the source of the greatness of the United States of America.
Have a happy and restful Thanksgiving with your families.
Tuesday, November 25, 2008
Call Source AdWord Display Test Results
Call Source AdWord Display Test Period:
Oct 8, 2008 - Nov 15, 2008
Pre-Testing Assumptions:
1. Replacing approximately 25 characters of precious service description space within our ads, with a call to action and a phone number, will be well worth the loss of space if it would call our customers to instant action.
2. People will place a call to your location simply by viewing your phone number in an AdWord Display Ad, thus saving you the cost of an actual click through.
Testing Method:
1. We have approximately 130 display ads in each account.
2. We ran a set of display ads without any phone numbers in the text for over a month.
3. Between 10/8/08 and 11/15/08, using a duplicate copy of display ads, we replaced some text in each ad with a call to action along with a tracked phone number entitled “AdWord Display Ads” in your call source reports.
4. If our theories were accurate, we would replace our AdWord display ads with our landing page tracking numbers in order to save on costs.
Example: Of course this is only one example out of 130 different display ads discussing every service you offer.
Non phone number ad
Pre-Employment Screening
Drug-Alcohol & Background Checks
Your Location or Ours! Lancaster
AccuDiagnostics.Local-Drug-Test.com
Tracking phone number replacing text
Pre-Employment Screening
Drug-Alcohol & Background Checks
Call Now. 661-902-0355 Lancaster
AccuDiagnostics.Local-Drug-Test.com
In our above example, our AdWord display ad has a call to action:“Call Now” plus a phone number “661-902-0355”. This method uses approximately 25 characters of service description space in each ad replacing “Your Location or Ours!”
Testing Period Activity:
Aug 31, 2008 - Oct 8, 2008
(38 days prior to AdWord display ad activation)
CallSource reports that our locations received
89 calls from landing page call tracking phone numbers
Oct 8, 2008 - Nov 15, 2008
(38 day period of AdWord display ads tracking phone numbers in all ads)
CallSource reports that our locations received
142 calls from landing page call tracking phone numbers
35 calls from AdWord display ads call tracking phone numbers
Testing Variables:
• We are not able to verify whether people call the phone number in an AdWord Display ad as well as clicking through on the ad, thus there is a cost for the click anyways.
• Click through rates were higher in the testing period because of increasing popularity of your organic as well as AdWord search results, thus we cannot compare data to months prior since overall traffic has increased.
Testing Results:
Over a period of 38 days, 35 people called franchise locations when prompted by an AdWord display ad. Keep in mind that there is not direct cost for these responses (no pay per click cost as there is in the Google AdWord program).
We can also validate that approximately 35 people actually searched for our keywords, saw our ads, and instantly called our locations. We are absolutely sure that all of these leads came from our AdWord campaigns, unlike landing pages that are both organic and cost per click leads.
We now have viable proof that supports our assumption:
Having a phone number in our AdWord display ads is worth the loss of the text explaining our service in our ads.
Conclusions:
1. With these results, we can predict our market behavior and adjust our methods of advertising.
2. Our customers are seeking their information online. Our customers are getting what they want when they want it. People love instant information. The trend “GET IT and GET IT NOW!” has proven to be a factual behavior in our market.
3. Our call to action alongside a phone number in each of your ads is a perfect example of accommodating your customer’s "wants" for instant information.
I am confident that if we continue to establish our online position and make sure our locations are readily available everywhere our customers are seeking, that we will eventually become an even greater influence in the Drug Testing world, and harvest the benefits accordingly while burying our competition over the long term!
Oct 8, 2008 - Nov 15, 2008
Pre-Testing Assumptions:
1. Replacing approximately 25 characters of precious service description space within our ads, with a call to action and a phone number, will be well worth the loss of space if it would call our customers to instant action.
2. People will place a call to your location simply by viewing your phone number in an AdWord Display Ad, thus saving you the cost of an actual click through.
Testing Method:
1. We have approximately 130 display ads in each account.
2. We ran a set of display ads without any phone numbers in the text for over a month.
3. Between 10/8/08 and 11/15/08, using a duplicate copy of display ads, we replaced some text in each ad with a call to action along with a tracked phone number entitled “AdWord Display Ads” in your call source reports.
4. If our theories were accurate, we would replace our AdWord display ads with our landing page tracking numbers in order to save on costs.
Example: Of course this is only one example out of 130 different display ads discussing every service you offer.
Non phone number ad
Pre-Employment Screening
Drug-Alcohol & Background Checks
Your Location or Ours! Lancaster
AccuDiagnostics.Local-Drug-Test.com
Tracking phone number replacing text
Pre-Employment Screening
Drug-Alcohol & Background Checks
Call Now. 661-902-0355 Lancaster
AccuDiagnostics.Local-Drug-Test.com
In our above example, our AdWord display ad has a call to action:“Call Now” plus a phone number “661-902-0355”. This method uses approximately 25 characters of service description space in each ad replacing “Your Location or Ours!”
Testing Period Activity:
Aug 31, 2008 - Oct 8, 2008
(38 days prior to AdWord display ad activation)
CallSource reports that our locations received
89 calls from landing page call tracking phone numbers
Oct 8, 2008 - Nov 15, 2008
(38 day period of AdWord display ads tracking phone numbers in all ads)
CallSource reports that our locations received
142 calls from landing page call tracking phone numbers
35 calls from AdWord display ads call tracking phone numbers
Testing Variables:
• We are not able to verify whether people call the phone number in an AdWord Display ad as well as clicking through on the ad, thus there is a cost for the click anyways.
• Click through rates were higher in the testing period because of increasing popularity of your organic as well as AdWord search results, thus we cannot compare data to months prior since overall traffic has increased.
Testing Results:
Over a period of 38 days, 35 people called franchise locations when prompted by an AdWord display ad. Keep in mind that there is not direct cost for these responses (no pay per click cost as there is in the Google AdWord program).
We can also validate that approximately 35 people actually searched for our keywords, saw our ads, and instantly called our locations. We are absolutely sure that all of these leads came from our AdWord campaigns, unlike landing pages that are both organic and cost per click leads.
We now have viable proof that supports our assumption:
Having a phone number in our AdWord display ads is worth the loss of the text explaining our service in our ads.
Conclusions:
1. With these results, we can predict our market behavior and adjust our methods of advertising.
2. Our customers are seeking their information online. Our customers are getting what they want when they want it. People love instant information. The trend “GET IT and GET IT NOW!” has proven to be a factual behavior in our market.
3. Our call to action alongside a phone number in each of your ads is a perfect example of accommodating your customer’s "wants" for instant information.
I am confident that if we continue to establish our online position and make sure our locations are readily available everywhere our customers are seeking, that we will eventually become an even greater influence in the Drug Testing world, and harvest the benefits accordingly while burying our competition over the long term!
Monday, November 24, 2008
Setting Up National/Regional Account Collections
Background: Jill Chioino is working with a national client. She will perform the billing, client services and management of the account. The account will require Quest Diagnostics collection services and a BAT. In order to properly structure the bid, Jill needed to know how to price the service to the client and what Quest will charge for collections.
Q: What does Quest charge for collections and how is the billing handled?
A: In general, if an AccuDiagnostics franchisee’s client uses a Quest facility and the client’s employee brings in a completed Chain of Custody form, Quest will bill the franchisee $10.00 for the collection. If the franchisee uses a Quest Preferred Collection Site and the client’s employee brings in a completed Chain of Custody form, Quest will bill the franchisee $15.00 for the collection.
This pricing information is used when a franchisee is setting up a national or regional account and handling the logistics of billing, customer service and setting up collection sites for the client. The franchisee will bill the client for whatever their agreement is for the collections and lab testing services. Quest will bill the franchisee $10.00 for collections at a Quest location, plus the cost of the lab drug test, or $15.00 for collections at a Preferred Collection Site, plus the cost of the lab drug test.
Example: Franchisee signs ABC Widget Company as a client. ABC has clients in CA, NV, UT and AZ. The franchisee uses Quest for collections and lab drug testing. Three collection sites are Quest locations and seven are Preferred Quest Collection sites that the client is directed to use for getting drug tests done.
When ABC’s employees bring in completed Quest Chain of Custody forms to any Quest location or Preferred Collection site to obtain a drug test, Quest will bill the franchisee $10.00 for using their facility, plus the cost of the lab drug test and $15.00 for using Preferred Collection Site collection, plus the cost of the lab drug test. When Quest is paid for collections from the franchisee, Quest pays the Preferred Collection Site for the collection services.
The Franchisee pays Quest or the Preferred Collection Site for the collection and Quest for the lab drug test. The Franchisee then bills the client whatever the negotiated price is for the collection services and the lab drug test.
The franchisee can also negotiate directly with a TPA or another AccuDiagnostics location for collections services.
Q: What does Quest charge for collections and how is the billing handled?
A: In general, if an AccuDiagnostics franchisee’s client uses a Quest facility and the client’s employee brings in a completed Chain of Custody form, Quest will bill the franchisee $10.00 for the collection. If the franchisee uses a Quest Preferred Collection Site and the client’s employee brings in a completed Chain of Custody form, Quest will bill the franchisee $15.00 for the collection.
This pricing information is used when a franchisee is setting up a national or regional account and handling the logistics of billing, customer service and setting up collection sites for the client. The franchisee will bill the client for whatever their agreement is for the collections and lab testing services. Quest will bill the franchisee $10.00 for collections at a Quest location, plus the cost of the lab drug test, or $15.00 for collections at a Preferred Collection Site, plus the cost of the lab drug test.
Example: Franchisee signs ABC Widget Company as a client. ABC has clients in CA, NV, UT and AZ. The franchisee uses Quest for collections and lab drug testing. Three collection sites are Quest locations and seven are Preferred Quest Collection sites that the client is directed to use for getting drug tests done.
When ABC’s employees bring in completed Quest Chain of Custody forms to any Quest location or Preferred Collection site to obtain a drug test, Quest will bill the franchisee $10.00 for using their facility, plus the cost of the lab drug test and $15.00 for using Preferred Collection Site collection, plus the cost of the lab drug test. When Quest is paid for collections from the franchisee, Quest pays the Preferred Collection Site for the collection services.
The Franchisee pays Quest or the Preferred Collection Site for the collection and Quest for the lab drug test. The Franchisee then bills the client whatever the negotiated price is for the collection services and the lab drug test.
The franchisee can also negotiate directly with a TPA or another AccuDiagnostics location for collections services.
Thursday, November 20, 2008
What We Do
“We are what we repeatedly do. Excellence, therefore, is not an act but a habit." --Aristotle, ancient Greek philosopher.
Sometimes simple statements have enormous insight and validity. This is one of those.
This axiom, if applied to any element of your business, infuses the seeds of success into your business. The ability to actually do this is another thing. It takes enormous discipline to implement an activity in order for it to become a habit. Habits are created by repetition. Repetition is enhanced by systems and processes.
In one of my previous blog postings, regarding keeping the Craigslist postings current, I recommended that you incorporate a process into your business daily operation for posting and reposting of classified ads to ensure that these classified ads are always current. This is just one of many of the items in your business that becomes a habit only when it is a part of an orderly process.
Your business will operate at a higher level of efficiency when you make the things which are critical to your success, a normal part of an internal operational process. Developing a process is not hard - to actually make it happen is difficult. Since there are just too many things going on in managing a business, things only get done when commitments are made on important things, a specific time frame is set, and then actually getting it done. Everyone understands the simple concepts of setting goals, making commitments, and effectively implementing them.
Just ask ten successful entrepreneurs, and each one will tell you that a major contributor to their success was setting a goal, making a commitment, and then consistently implementing the things that really mattered in their success – come hell or high water.
Sometimes simple statements have enormous insight and validity. This is one of those.
This axiom, if applied to any element of your business, infuses the seeds of success into your business. The ability to actually do this is another thing. It takes enormous discipline to implement an activity in order for it to become a habit. Habits are created by repetition. Repetition is enhanced by systems and processes.
In one of my previous blog postings, regarding keeping the Craigslist postings current, I recommended that you incorporate a process into your business daily operation for posting and reposting of classified ads to ensure that these classified ads are always current. This is just one of many of the items in your business that becomes a habit only when it is a part of an orderly process.
Your business will operate at a higher level of efficiency when you make the things which are critical to your success, a normal part of an internal operational process. Developing a process is not hard - to actually make it happen is difficult. Since there are just too many things going on in managing a business, things only get done when commitments are made on important things, a specific time frame is set, and then actually getting it done. Everyone understands the simple concepts of setting goals, making commitments, and effectively implementing them.
Just ask ten successful entrepreneurs, and each one will tell you that a major contributor to their success was setting a goal, making a commitment, and then consistently implementing the things that really mattered in their success – come hell or high water.
Tuesday, November 18, 2008
Access to Experts Scores Again
A few days ago, in discussions with several attorneys, Carol Hastings was asked about a recent court ruling in the Ninth Circuit Court of Appeals in Oregon regarding pre-employment testing of employees. Here is the question/concern that was raised:
Q: In a recent decision from the Ninth Circuit Court of Appeals, Lanier v. City of Woodburn (2008) 518 F.3d 1147, the Court placed significant limitations on a public employer’s ability to implement pre-employment drug testing.
This question/concern was presented to Bill Judge, our Attorney and expert for matter related to Drug Policy issues.
Read his reply on FranConnect/Support/FQA/Legal
Having the resources to quickly get answers and support on technical and legal issues is a significant competitive advantage that will create credibility and a stellar reputation over the long term.
Q: In a recent decision from the Ninth Circuit Court of Appeals, Lanier v. City of Woodburn (2008) 518 F.3d 1147, the Court placed significant limitations on a public employer’s ability to implement pre-employment drug testing.
This question/concern was presented to Bill Judge, our Attorney and expert for matter related to Drug Policy issues.
Read his reply on FranConnect/Support/FQA/Legal
Having the resources to quickly get answers and support on technical and legal issues is a significant competitive advantage that will create credibility and a stellar reputation over the long term.
Monday, November 17, 2008
PPC vs. Organic Search
Our Pay-Per-Click (PPC) advertising campaigns are very successful and are working as they are intended to work.
As you are aware, your SEO and Google AdWord Specialists track all activity on all of our landing pages. An interesting factoid that has emerged is searchers performing organic searches are possibly more valuable than those using the PPC method of search.
The average time a PPC customer stays on a landing page is approximately 30 seconds. An organic search customer remains on a landing page for over 60 seconds. This is valuable information, because it indicates that you need to continue your efforts on the posting of ads in the various classified websites in order to increase organic rankings, which will lead to more organic searches – which, as you know, do not cost us a thing.
DO THE MATH:
PPC = monthly budget of $xxx = 30 seconds average on landing page
Organic Search = monthly budget of $0 = 60 seconds on a landing page
Both of these strategies are important, but the accumulated data to date indicates that resources should be weighted to organic search.
Information/data is king.
As you are aware, your SEO and Google AdWord Specialists track all activity on all of our landing pages. An interesting factoid that has emerged is searchers performing organic searches are possibly more valuable than those using the PPC method of search.
The average time a PPC customer stays on a landing page is approximately 30 seconds. An organic search customer remains on a landing page for over 60 seconds. This is valuable information, because it indicates that you need to continue your efforts on the posting of ads in the various classified websites in order to increase organic rankings, which will lead to more organic searches – which, as you know, do not cost us a thing.
DO THE MATH:
PPC = monthly budget of $xxx = 30 seconds average on landing page
Organic Search = monthly budget of $0 = 60 seconds on a landing page
Both of these strategies are important, but the accumulated data to date indicates that resources should be weighted to organic search.
Information/data is king.
Friday, November 14, 2008
Conversions
Conversions result from future customers submitting an inquiry form from your landing page, requesting information. Over the past months, your Google SEO and Ad Word Team have been tracking these conversions in order to get a better understanding of what type of information individuals and businesses are seeking.
Recent conversions indicate inquiries are seeking information on the types of drugs for which people are tested and the different testing methodologies. Another insight is that DNA testing inquiries are very specific to the paternity of children, and that price is the number one concern.
Knowing this information is very useful. For instance, an email template could be created to respond to paternity questions. This would not only ensure each conversion inquiry is receiving immediate attention (especially if you cannot reach the customer by phone), but also an email can address many of the issues that the person making the inquiry may not have considered or of which the person may not have been aware. Specific details can be included in an email to enhance selling points when there is a personal conversation.
A drug testing email template could highlight options and specific issues that will emphasize our service offerings. Anyone taking the time to submit an inquiry is looking for information in an expedient manner and has selected AccuDiagnostics in hopes we can cater to his/her needs.
Individuals and businesses submitting inquiries to us are likely submitting forms on other websites, too. Time is of the essence. Someone should be checking emails frequently and each office should have a plan in place to respond immediately to any inquiry. Make the most of your response in emails and phone follow-up calls, which will show future clients that you want and deserve their business.
Recent conversions indicate inquiries are seeking information on the types of drugs for which people are tested and the different testing methodologies. Another insight is that DNA testing inquiries are very specific to the paternity of children, and that price is the number one concern.
Knowing this information is very useful. For instance, an email template could be created to respond to paternity questions. This would not only ensure each conversion inquiry is receiving immediate attention (especially if you cannot reach the customer by phone), but also an email can address many of the issues that the person making the inquiry may not have considered or of which the person may not have been aware. Specific details can be included in an email to enhance selling points when there is a personal conversation.
A drug testing email template could highlight options and specific issues that will emphasize our service offerings. Anyone taking the time to submit an inquiry is looking for information in an expedient manner and has selected AccuDiagnostics in hopes we can cater to his/her needs.
Individuals and businesses submitting inquiries to us are likely submitting forms on other websites, too. Time is of the essence. Someone should be checking emails frequently and each office should have a plan in place to respond immediately to any inquiry. Make the most of your response in emails and phone follow-up calls, which will show future clients that you want and deserve their business.
Thursday, November 13, 2008
Postcard Campaign Launched
The postcard mailing campaign was launched last week. The DOT postcard was mailed to all transportation SIC codes in Oceanside, Rancho Cucamonga/Fontana, Lancaster/Palmdale and Martinez areas. Sacramento elected to begin their mailing in 2009.
The mailing dates for the DOT mailing are: 11/6/08, 11/21/08, and 1/2/09. The delivery times vary, but are generally within two weeks.
The mailings for the balance of the mailing will be on 1/2/09, 1/30/09 and 2/27/09. A total of 6,000 postcards will be mailed in each mailing cycle and in each territory at ~2,000 per mailing.
To review the postcards that will be mailed, go to FranConnect/library/CAMPA .
The mailing dates for the DOT mailing are: 11/6/08, 11/21/08, and 1/2/09. The delivery times vary, but are generally within two weeks.
The mailings for the balance of the mailing will be on 1/2/09, 1/30/09 and 2/27/09. A total of 6,000 postcards will be mailed in each mailing cycle and in each territory at ~2,000 per mailing.
To review the postcards that will be mailed, go to FranConnect/library/CAMPA .
Tuesday, November 11, 2008
Free Landing Page Traffic
Free Landing Page Traffic
Everyone with a website wants to know, “How do I get more traffic?” There are really only two answers to this question: either work for it or pay for it.
Working for your traffic includes posting classified ads on Craigslist and other free classified advertising venues, as well as updating these ads on a regular basis. Craigslist ads bring in a substantial number of visitors to our landing pages without a penny spent, other than the time to post the ads.
In a quick review of the fifteen possible ads that could be posted on Craigslist, there are only four ads currently posted. Each business is allowed to post three ads at a time. When ads are posted, there is an expiration date provided. It is a good idea to note the expiration date and then begin a routine of having a lab tech or someone else do this routine repost of your ads.
Our tracking of landing page traffic demonstrates that these ads are worth every minute of the time allocated towards keeping them current. In fact, there are very few things that you can do which is a better use of time, and if time is being spent to post one ad, you might as well post three at a time.
Coupons are another free way to increase traffic to your site. Coupons have a two-fold benefit. They will grab the attention of future customers, as well as increase site ranking in organic search, because search engine algorithms weight the use of a coupon in determining ranking.
Everyone with a website wants to know, “How do I get more traffic?” There are really only two answers to this question: either work for it or pay for it.
Working for your traffic includes posting classified ads on Craigslist and other free classified advertising venues, as well as updating these ads on a regular basis. Craigslist ads bring in a substantial number of visitors to our landing pages without a penny spent, other than the time to post the ads.
In a quick review of the fifteen possible ads that could be posted on Craigslist, there are only four ads currently posted. Each business is allowed to post three ads at a time. When ads are posted, there is an expiration date provided. It is a good idea to note the expiration date and then begin a routine of having a lab tech or someone else do this routine repost of your ads.
Our tracking of landing page traffic demonstrates that these ads are worth every minute of the time allocated towards keeping them current. In fact, there are very few things that you can do which is a better use of time, and if time is being spent to post one ad, you might as well post three at a time.
Coupons are another free way to increase traffic to your site. Coupons have a two-fold benefit. They will grab the attention of future customers, as well as increase site ranking in organic search, because search engine algorithms weight the use of a coupon in determining ranking.
Monday, November 10, 2008
Interesting Statistics
Every franchisee has an opportunity to educate their clients and the general public on the scope of drug abuse in our society. It is general knowledge that drug abuse is a huge problem and costly not only to society but to business as well. If you do not already know these statistics, you should memorize them and be able to share them when the opportunity arises:
-19% of eighth graders, 36% of tenth graders, and 47% of twelfth graders have used illegal drugs, according to a study by the National Institute on Drug Abuse and the University of Michigan
-74% of all drug users are employed
-1 in 6 has an addiction problem
-4x more likely to steal from employers
-3.6x more likely to be involved in work accidents
-3x more likely to use medical benefits
-5x more likely to file a Workers Compensation claim
-Absent from work 16x more often
-1 workplace drug user costs employers $11000 - $13000 a year
-19% of eighth graders, 36% of tenth graders, and 47% of twelfth graders have used illegal drugs, according to a study by the National Institute on Drug Abuse and the University of Michigan
-74% of all drug users are employed
-1 in 6 has an addiction problem
-4x more likely to steal from employers
-3.6x more likely to be involved in work accidents
-3x more likely to use medical benefits
-5x more likely to file a Workers Compensation claim
-Absent from work 16x more often
-1 workplace drug user costs employers $11000 - $13000 a year
Friday, November 7, 2008
Incoming Call Source Logs
During the course of a typical work day, you and your lab techs are pushed and pulled in many different directions. Sometimes this creates the situation where it is hard to focus on seemingly insignificant details in your operation that actually can make a big difference in your sales revenue and in understanding the effectiveness of your marketing dollars. One of the most overlooked routine front line functions is how incoming phone calls are answered and logged (if at all).
Keeping a Call Source Log next to each office telephone is one of those simple things that will yield big results over the course of a year. In fact, I would venture to say that there are few things more important than knowing how incoming phone calls are handled and where these calls are coming from.
If, as a group, we are serious about differentiating ourselves from our competitors, it all starts with how each incoming call is answered. Each time the phone rings, it should be answered professionally and rarely forwarded to voice mail – the Call Source Report will tell you how many times calls are going to voice mail. After each call, the source of the call and other important information needs to be logged into the Call Source Log.
This process should not be time consuming and simply involves jotting down the phone number, the caller’s name, their company (if a B2B call), and a few notes about the call. You will find that this log will be invaluable in the future as you begin to analyze your marketing.
If you have not figured it out yet, you know how passionate I am about accumulating data. Just look at the data we are currently gathering in our Google marketing campaign. We WILL have the data to make informed business decisions in the future and will NOT be shooting in the dark. Success is always found in the details. Without the data, we will not have information to make smart decisions - which generally results in stupid decisions.
Not only will maintaining the Call Source Log data help provide each customer with better service (for follow up calls), it will differentiate our service level and set expectations with our new customers. You will also be able to reconcile the Call Source Log with your Call Source Report and track the calls you are receiving. This allows you to begin to understand which ads are working and what type of business you are receiving for the SEO and Ad Word campaign.
Although this may seem insignificant, this simple procedure will increase the effectiveness of your business and give you and your staff a much better feel for the sourcing of your business.
Our mission is to out-execute our competitors at EVERY level. We are well on our way to doing this. Our ability to crush our competitors in the future gets better as we execute on the little things. The Call Source Log is one killer application. I can tell you that your competitors are clueless in this area.
Keeping a Call Source Log next to each office telephone is one of those simple things that will yield big results over the course of a year. In fact, I would venture to say that there are few things more important than knowing how incoming phone calls are handled and where these calls are coming from.
If, as a group, we are serious about differentiating ourselves from our competitors, it all starts with how each incoming call is answered. Each time the phone rings, it should be answered professionally and rarely forwarded to voice mail – the Call Source Report will tell you how many times calls are going to voice mail. After each call, the source of the call and other important information needs to be logged into the Call Source Log.
This process should not be time consuming and simply involves jotting down the phone number, the caller’s name, their company (if a B2B call), and a few notes about the call. You will find that this log will be invaluable in the future as you begin to analyze your marketing.
If you have not figured it out yet, you know how passionate I am about accumulating data. Just look at the data we are currently gathering in our Google marketing campaign. We WILL have the data to make informed business decisions in the future and will NOT be shooting in the dark. Success is always found in the details. Without the data, we will not have information to make smart decisions - which generally results in stupid decisions.
Not only will maintaining the Call Source Log data help provide each customer with better service (for follow up calls), it will differentiate our service level and set expectations with our new customers. You will also be able to reconcile the Call Source Log with your Call Source Report and track the calls you are receiving. This allows you to begin to understand which ads are working and what type of business you are receiving for the SEO and Ad Word campaign.
Although this may seem insignificant, this simple procedure will increase the effectiveness of your business and give you and your staff a much better feel for the sourcing of your business.
Our mission is to out-execute our competitors at EVERY level. We are well on our way to doing this. Our ability to crush our competitors in the future gets better as we execute on the little things. The Call Source Log is one killer application. I can tell you that your competitors are clueless in this area.
Thursday, November 6, 2008
Getting Paid in Tough Economic Times
In economically challenging times, making sure that you get paid can make all the difference in your survival … or your demise. For businesses that are in the startup mode (i.e., in business less than 2 yrs), proper management of cash flow is essential. Since the key component of a Cash Flow Statement/Report is the incoming cash metric, it is important that adequate attention be given to all aspects of this key metric.
Early in my career, I became a franchisee in a retail-oriented franchise. Although I had a background in accounting and fully understood the importance of managing cash flow, I got distracted by the excitement of building the business.
To my credit, I correctly focused on sales, realizing that an aggressive sales and marketing posture was critical to success. I hired several sales people, something that had not been done in this business previously, since it was primarily a retail business. I was able to create a great amount of sales momentum. I was almost too successful in building top line sales.
Although I had a credit checking process established, it was not very sophisticated. I also had a procedure to track receivables in aggregate, but I did not have a procedure in place to monitor the rapid growth in receivables of my larger clients. I was just too focused on sales, which were exponentially growing, to take the necessary time to analyze the numbers closely. This is a classic entrepreneurial rookie mistake!
Someone can intellectually understand the importance of cash flow, and in my case as an accountant, understand and promote cash flow management, having designed cash flow reporting systems for others. However, until I had actually been swept up in the excitement of building a business, watched sales skyrocket, and spent a majority of my time focusing on expansion and all of the elements associated with the growth phenomenon, it was difficult to appreciate the importance of the cash flow metric. Clarity did not arrive until I got to the point when I was technically bankrupt - THEN the cash flow metric hit home! Turning on a dime, my new focus became fixing this problem.
Based on this experience, I have developed 5 essential tasks for more effective cash flow management, in an expansionary mode or during uncertain economic times:
1. Chose your customers carefully. It is better to not associate with companies that have a poor payment history or are unwilling to readily provide credit information and references. Under the best of circumstances, it is hard to find out if a company is hiding something, and if you are having a difficult time verifying information or something just does not seem right – walk away from these companies. You are better off without them. If they don’t have money or if they are having other difficulties, no matter how much they like you personally, they will not be able to pay their bills.
2. Find an excuse to call – any excuse. Being the “squeaky wheel” will keep you front and center. In uncertain economic times, he who is the squeakiest (in a nice way), is the first to get the grease.
3. Consider credit insurance. Credit insurance allows you to increase credit lines and protect yourself against unforeseen future events, by protecting your receivables against commercial risks which could result in non-payment of your invoices due to buyer insolvencies (e.g., bankruptcy) or protracted defaults (slow payment). Non-payment problems can be caused by fluctuations in demand, natural disasters, or general economic conditions in your customer's business. To find out more about credit insurance, go to Google and do a search for “Credit Insurance Policies”.
4. Turn your sales people into collection agents. Tie commissions and bonuses to on time accounts receivable payments vs. commission being paid at the time the sale closes.
5. If there is a problem, be the first on the scene to work with the client. Be creative on structuring a payment schedule. Bend over backwards to be proactive and to maintain a good working relationship. If you are a facilitator in working with your clients, you will be the first in line vs. being at the end of the line. Being proactive also cements the future relationship. This will keep competitors out when things turn around, even if the competitor offers lower pricing. The relationship is more important than saving a few bucks.
Early in my career, I became a franchisee in a retail-oriented franchise. Although I had a background in accounting and fully understood the importance of managing cash flow, I got distracted by the excitement of building the business.
To my credit, I correctly focused on sales, realizing that an aggressive sales and marketing posture was critical to success. I hired several sales people, something that had not been done in this business previously, since it was primarily a retail business. I was able to create a great amount of sales momentum. I was almost too successful in building top line sales.
Although I had a credit checking process established, it was not very sophisticated. I also had a procedure to track receivables in aggregate, but I did not have a procedure in place to monitor the rapid growth in receivables of my larger clients. I was just too focused on sales, which were exponentially growing, to take the necessary time to analyze the numbers closely. This is a classic entrepreneurial rookie mistake!
Someone can intellectually understand the importance of cash flow, and in my case as an accountant, understand and promote cash flow management, having designed cash flow reporting systems for others. However, until I had actually been swept up in the excitement of building a business, watched sales skyrocket, and spent a majority of my time focusing on expansion and all of the elements associated with the growth phenomenon, it was difficult to appreciate the importance of the cash flow metric. Clarity did not arrive until I got to the point when I was technically bankrupt - THEN the cash flow metric hit home! Turning on a dime, my new focus became fixing this problem.
Based on this experience, I have developed 5 essential tasks for more effective cash flow management, in an expansionary mode or during uncertain economic times:
1. Chose your customers carefully. It is better to not associate with companies that have a poor payment history or are unwilling to readily provide credit information and references. Under the best of circumstances, it is hard to find out if a company is hiding something, and if you are having a difficult time verifying information or something just does not seem right – walk away from these companies. You are better off without them. If they don’t have money or if they are having other difficulties, no matter how much they like you personally, they will not be able to pay their bills.
2. Find an excuse to call – any excuse. Being the “squeaky wheel” will keep you front and center. In uncertain economic times, he who is the squeakiest (in a nice way), is the first to get the grease.
3. Consider credit insurance. Credit insurance allows you to increase credit lines and protect yourself against unforeseen future events, by protecting your receivables against commercial risks which could result in non-payment of your invoices due to buyer insolvencies (e.g., bankruptcy) or protracted defaults (slow payment). Non-payment problems can be caused by fluctuations in demand, natural disasters, or general economic conditions in your customer's business. To find out more about credit insurance, go to Google and do a search for “Credit Insurance Policies”.
4. Turn your sales people into collection agents. Tie commissions and bonuses to on time accounts receivable payments vs. commission being paid at the time the sale closes.
5. If there is a problem, be the first on the scene to work with the client. Be creative on structuring a payment schedule. Bend over backwards to be proactive and to maintain a good working relationship. If you are a facilitator in working with your clients, you will be the first in line vs. being at the end of the line. Being proactive also cements the future relationship. This will keep competitors out when things turn around, even if the competitor offers lower pricing. The relationship is more important than saving a few bucks.
Tuesday, November 4, 2008
Fires
In many ways, a crisis is like a forest fire. If left unchecked, it can devastate thousands of acres, homes and lives. However, forest fires do have a beneficial effect in nature. Fires clear out old dead brush and decades of undergrowth, and set the stage for vibrant new growth in the future. Fires are Mother Nature’s way of giving rebirth to a forest.
Crisis in a business, if handled properly, can be a healthy thing. Bumps in the road can serve to focus an entrepreneur and propel him/her into action. If challenges are viewed as opportunities vs. disasters, these events can make a huge difference in the long term success of a business. In fact, these types of crises can be the difference between a home run and a single.
A number of years ago, as a CEO of an emerging franchise company, I had aggressively recruited an extraordinarily talented individual to join our management team. This individual, whom I will call Roger, was unique in our industry, and by far the best in the industry at what he did – training franchisees on the technical aspects of our business. After Roger joined our management team, over a period of just a few years, he had completely reoriented the company’s training program and cemented the company’s position as the leader in the industry.
Part of Roger’s job required extensive travel. Travel is difficult for anyone with a family. Roger had some family issues that were exacerbated by his frequent absences on company business. To Roger’s credit, he walked into my office one morning and said that he had to resign. I respected his decision, but when he walked out of the office, I sat there and looked out my window, wondering how in the heck I was going to replace Roger. In many ways Roger was irreplaceable. I was heartsick because he had done so much to make the company the industry leader.
Although the next few months were difficult after Roger left, the management team pulled together to bridge the gap. I moved quickly to fill the void and was able to recruit one of the more successful franchisees to fill Roger’s spot. This proved to be a critical addition to the team. The new Director of Operations and Training brought a different set of skills to the table and built upon what Roger had accomplished.
Roger moved on and chose a different career that was more conducive to his family situation. Roger’s replacement catapulted the company forward, increasing its domination in our market segment. What seemed like disaster turned out to be a blessing in disguise. Without the “new Roger,” the company could not have gone to the next level.
Disasters come in many different forms: the loss of a key employee or a key client, a big proposal or a new competitor entering the market, a key employee embezzling funds, a fire at your office, a technology failure … and the list goes on and on. Whatever these bumps in the road are, there is a process to implement to insure that these disasters don’t derail the company.
5 Strategies to Convert a Disaster Into a Win:
1. Attitude. Don’t get depressed. Take a deep breath and get to work.
2. Vision. Don’t look back. Keep moving forward. Inaction or indecision is a killer.
3. Execution. Realize that execution is more important than having the perfect plan or strategy.
4. Mistakes. Accept that there will be setbacks and mistakes, but as long as you are taking two steps forward, then a step backwards from time to time is expected, and in some cases necessary, to keep you rooted in reality.
5. Drive. Never, never, never give up!
Crisis in a business, if handled properly, can be a healthy thing. Bumps in the road can serve to focus an entrepreneur and propel him/her into action. If challenges are viewed as opportunities vs. disasters, these events can make a huge difference in the long term success of a business. In fact, these types of crises can be the difference between a home run and a single.
A number of years ago, as a CEO of an emerging franchise company, I had aggressively recruited an extraordinarily talented individual to join our management team. This individual, whom I will call Roger, was unique in our industry, and by far the best in the industry at what he did – training franchisees on the technical aspects of our business. After Roger joined our management team, over a period of just a few years, he had completely reoriented the company’s training program and cemented the company’s position as the leader in the industry.
Part of Roger’s job required extensive travel. Travel is difficult for anyone with a family. Roger had some family issues that were exacerbated by his frequent absences on company business. To Roger’s credit, he walked into my office one morning and said that he had to resign. I respected his decision, but when he walked out of the office, I sat there and looked out my window, wondering how in the heck I was going to replace Roger. In many ways Roger was irreplaceable. I was heartsick because he had done so much to make the company the industry leader.
Although the next few months were difficult after Roger left, the management team pulled together to bridge the gap. I moved quickly to fill the void and was able to recruit one of the more successful franchisees to fill Roger’s spot. This proved to be a critical addition to the team. The new Director of Operations and Training brought a different set of skills to the table and built upon what Roger had accomplished.
Roger moved on and chose a different career that was more conducive to his family situation. Roger’s replacement catapulted the company forward, increasing its domination in our market segment. What seemed like disaster turned out to be a blessing in disguise. Without the “new Roger,” the company could not have gone to the next level.
Disasters come in many different forms: the loss of a key employee or a key client, a big proposal or a new competitor entering the market, a key employee embezzling funds, a fire at your office, a technology failure … and the list goes on and on. Whatever these bumps in the road are, there is a process to implement to insure that these disasters don’t derail the company.
5 Strategies to Convert a Disaster Into a Win:
1. Attitude. Don’t get depressed. Take a deep breath and get to work.
2. Vision. Don’t look back. Keep moving forward. Inaction or indecision is a killer.
3. Execution. Realize that execution is more important than having the perfect plan or strategy.
4. Mistakes. Accept that there will be setbacks and mistakes, but as long as you are taking two steps forward, then a step backwards from time to time is expected, and in some cases necessary, to keep you rooted in reality.
5. Drive. Never, never, never give up!
Monday, November 3, 2008
Q&A on Important DOT Regs Change
The Department of Transportation is making regulation changes in an effort to reduce the adulteration of urine specimens.
The regulations that were first announced this summer, were intended to take effect on November 1, 2008. However, on 10/31/2008, the U.S. Court of Appeals for the D.C. Circuit temporarily delayed the November 1st Direct Observation (DO) requirement for DOT return-to-duty and follow-up tests. This is an administrative stay until the Court completes its review on the matter. Therefore, DO for return-to-duty and follow-up testing will continue to be an employer option, rather than mandatory. This temporary stay is only regarding 49 CFR §40.67 (b).
You may view the complete Stay Order at Administrative Stay Order
DATIA will notify members when this stay is lifted.
When these regs become effective, for any company that is mandated to comply with DOT regulations, it is essential that they familiarize themselves with the following information. I have included an easy-to-understand question and answer document for you to review, located on. Go to FranConnect
The regulations that were first announced this summer, were intended to take effect on November 1, 2008. However, on 10/31/2008, the U.S. Court of Appeals for the D.C. Circuit temporarily delayed the November 1st Direct Observation (DO) requirement for DOT return-to-duty and follow-up tests. This is an administrative stay until the Court completes its review on the matter. Therefore, DO for return-to-duty and follow-up testing will continue to be an employer option, rather than mandatory. This temporary stay is only regarding 49 CFR §40.67 (b).
You may view the complete Stay Order at Administrative Stay Order
DATIA will notify members when this stay is lifted.
When these regs become effective, for any company that is mandated to comply with DOT regulations, it is essential that they familiarize themselves with the following information. I have included an easy-to-understand question and answer document for you to review, located on. Go to FranConnect
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