Data for the Win Sales... · (business insider) • #1 city for millennials & most affordable ......

transcript

DATA FOR THE

Tabitha Sarris

St. Louis Regional Chamber

Vice President, Investor Relations

Mary Perez

St. Louis Regional Chamber

Database Administrator/Membership Intelligence Expert

• Ranked #1 for women entrepreneurs (seek business capital)

• Fastest growing startup scene in the

country (business insider)

• #1 city for millennials & most affordable (penny hoarder & redfin.com)

• #5 most underrated city in America (jettsetter.com)

• #3 most generous large city (charity navigator)

• #2 food city in the U.S. (yelp crowd source)

• Best Beer Scene (usa today)

Greater St. Louis Region

• 15-county, bi-state

metropolitan area

• 2.8 million residents

• $161 billion economy

MACOUPIN

MADISON

JERSEY

CLINTON

ST. CLAIR

MONROEJEFFERSON

CALHOUN

LINCOLN

ST. CHARLES

ST. LOUIS

WARREN

FRANKLIN

DATING AND DATA

The Sales Cycle

Identifying the Leads

Closing the Sale

Engaging the Member

Member Retention

SALES CYCLE

COLD LEADS

• Heavy research is required

• Google, LinkedIN, word of mouth, drive-by’s,

social media

• It doesn’t exist if it isn’t logged in your CRM

system

• Who are they and where do they come from?

• Business Journals

• Local papers

• Internet stories

• In-direct referrals

• LinkedIn Sales Navigator

• Time is money – so document!

• Heavy documentation is required. These

leads can take up to ? to close

Cold Leads # of Days to Close

TypeFY 2017 FY 2018 FY 2019 Total

Membership Average # of Days to Close 35 56 51 47

Number of Accts Closed 10 48 57 115

Regional Investment Average # of Days to Close 133 128 111 124

Rejoin Membership Average # of Days to Close 34 42 47 41

Rejoin Regional Investment Average # of Days to Close 33 39 57 43

Grand Total

Average # of Days to Close 59 66 67 64

• Requires more nurturing

of the relationship

• Takes more time to

decide if joining is the

right fit

• Likely requires more

negotiation

WARM LEADS

• Research is still required, in a different form

• Do your research, like a cold lead

• Invitation to attend an event as your personal guest

• Schedule meeting

• Who are they and where do they come from?

• They know a little bit about chambers and are

open to learning more

• Acquired through an advocate of a chamber,

attended an event, follows you or the chamber

on social media, signed up for a newsletter,

showed interest in some way

• Time is money – so document!

• Heavy documentation is required. These

leads can take up to ? to close

Closing Warm Leads - Event Participation

• Invited and attended

an event

• Shown interest in a

specific chamber

benefit

• May move thru the

sales pipeline more

quickly

FY 2018 FY 2019 Total

Policy Event Average # of Days to Close 17 11 14

Number of Accts Closed 2 8 10

Networking Event Average # of Days to Close 17 22 20

Health Benefit Plan Average # of Days to Close 7 5 6

Grand Total

Average # of Days to Close 14 13 14

HOT LEADS

• Research is still required, in a different form

• Know the HOT buttons, or figure them out quickly

• Bring an advocate with you to the meeting

• Who are they and where do they come

• Qualified lead alert!

• Acquired through chamber advocate

• Fits the BANT

• Time is money – so document!• Heavy and QUICK documentation is needed

• These leads are ready to go, BUT they need strong nurturing the first year for retention. Expectations are typically higher for HOT leads

• These leads still takes ? to closePhoto by Elijah O'Donnell on Unsplash

Hot Lead # of Days to Close with a Referral

• More open to a

conversation

• Better relationship

alignment

• Likely to join

TypeFY 2017 FY 2018 FY 2019 Total

Membership Average # of Days to

30 42 14 29

Regional Investment Average # of Days to

40 47 36 41

Rejoin Membership Average # of Days to

3 2 1 2

Rejoin Regional Investment Average # of Days to

5 6 10 7

Grand Total

Average # of Days to

20 24 15 20

• Relationship building

• Value in the group benefit

• Listening for what the

want/need

Referral Source

Conversion

Converting Leads

Referral Event Attendance Health Benefit Program Other

Lead Source

THE SALE

Congratulations! You have a new member.

Keep documenting!

ENGAGE –

THE MOSTIMPORTANT STEP

• Focused Events

• Sponsorships

• Thoughtful Connections

• Purposeful Engagement

• DOCUMENT

An engaged member is your

best advocate

Thoughtful targeted initiations

based on interest

More likely to attend the

Member Engagement*

Event Type FY 2018 FY 2019 TotalEntrepreneurship & Innovation Attended 1 6 7

Investor Development Attended 20 11 31

Public Policy Attended 3 13 16

Strategic Operations &

Operations

Attended 2 4 6

Grand Total 26 34 60

*Engagement example is for one member

RETENTION

• Received & Perceived value

• Return on Investment (ROI)

• Referrals

HOW ENGAGED ARE YOUR MEMBERS

5 – Super Engaged 4 – Engaged 3 – Engaged enough

2 – Kinda engaged 1 – “We’re a member of the

Chamber?”

VALUE ON ENGAGEMENT

Return on Investment

• You won’t always have a

tangible Return on

Investment (ROI)

• Know the difference

between the received value

for the investor and the

perceived value

• Remember – a closed new

business lead for your

investor is their ROI

Referral

• Lead to a hot leads

• Always ask!

• Offer something of value or

a unique thank you for a

referral

Photo by Ivan Bertolazzi from Pexels

WHAT DO YOU NEED TO DOCUMENT?

Revenue

In-person communications

Purposeful Engagement

Partnerships

Event Attendance

Relevant personal details

Electronic

Communications

Common Connections

Thoughtful Connections

Passions/Interests

Any Asks

Freebies

SALES CYCLE

Data for the Win Sales... · (business insider) • #1 city for millennials & most affordable ......

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