Earlier this year, Direct Legal Support, Inc. President Michael Kern was invited to be a featured speaker at ServeCon 2015. The online conference brought in leading industry speakers to share their expertise on process serving, marketing, running a business, and the future of this industry.
"Selling, Pitching and Profit"
In the presentation, Michael discussed his approach to sales and growing his client base. He covered how you pitch your team's competitive advantage and how he's transitioned from managing his firm's business development on his own to delegating this to a sales force. In addition, Michael talked about the importance of analyzing your agreements and pricing. Volume doesn't always equate to profit. Know what clients and deals avoid in this presentation at ServeCon.
The is a 5 minute excerpt from the presentation gives you the highlights of what was covered in the presentation. You can rent or purchase the full presentation here: www.vimeo.com/ondemand/servecon2015
10 Tips For Selling, Pitching, and Staying Profitable
When it comes to selling, pitching, and profit, there are a lot of misconceptions and many areas that get overlooked. Here are our 10 best tips as you work to grow your process serving business:
1. Set Goals for Your Company
When setting goals, consider what type of customer you are looking for, what you expect from your sales team, and what your income needs to be right now and where you hope to see it go. Consider how to inspire your team to achieve your objectives, how customer service can help you get there, and dig into your cost vs. value to make sure you're on track for a profit.
2. Practice Conscious Decision Making
Large companies and mom and pop shops both struggle with empowering their sales teams to make the decisions. Make sure you communication who can make decisions, what your lowest price is, and teach your team members to be conscious decision makers.
3. Sell to Your Clients Effectively
Understand what services a potential client is currently receiving and what other services might be of benefit. Understand your customer's needs, and emphasize the positive aspects of your company or services that meet those needs.
4. Manage Your Cost vs. Value Carefully
Ask yourself what the cost is associated with providing the services to the client, know whether they pay net 30 days, 90 days, or longer, and understand the maximum of what you can float with your cash flow and credit lines.
5. Know the Pros and Cons of Government, City and State Contracts
A big contract might seem like a guaranteed profit, but make sure you read the fine print. Some only pay for successful serves. Estimate whether you're really set to make a profit and whether the work output is worth what you'll make. Analyze all agreements and pricing carefully!
6. Know Your Company Benefits
When pitching to a potential client, highlight your team's experience, excellent customer service, your company and team members' years in business, and your resources. Resources can be multiple office, advanced technology like case management software, number of dedicated employees, and nationwide affiliates.
7. Practice Good Business Ethics
Never do anything illegal to help a client or make a buck! Always be professional, respect the competition, and never speak negatively about another service provider. Instead, advise on what you can do better and highlight your company's benefits.
8. Consider Hiring an Outside Sales Representative
To bring more clients into your firm, hire an outside sales representative. This can be someone on salary, commission-based, a salary and commission compensation setup, or even be an independent contractor. Having a dedicated sales representative means more income and clients for your business.
9. Market Your Business
Take advantage of word of mouth marketing, reward the clients who refer you, put together social events, and take advantage of conferences and meetings. Of course, don't forget about internet marketing, search engine optimization, email marketing, and being active on social media.
10. Practice Smart Pitching
Know your product and services and what sets you apart from the competitions, always be friendly and courteous, and be positive and assure you can work out an agreement that meets the client's needs. Never promise what you can't deliver! Some potential clients will appreciate references from previous and current clients, offers for services other companies don't cover, and an invitation to visit the office. Some companies will be interested in volume discounts paired with payment guarantees as well. It's all about the value you provide better than other service providers.