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In this video, I cover:
- How to completely set yourself apart from competitors by planning for scale
- Solving the decision-making “puzzle” that holds big clients back from signing with you
- The common objections you’ll face when dealing with sophisticated organizations… and how to “slip” around them
Congratulations!
You’ve finally hooked the big one…
It’s that prospect who — if you can close the deal — will change your business and your life forever…
When it comes to selling marketing services to clients with big budgets…
Budgets in the tens of thousands — or even hundreds of thousands of dollars…
There’s some things you need to know if you’ll ever have a chance to close the deal…
I’m going to share a few of these must-know tips…
And reveal how to avoid common deal-killing mistakes when reeling in that “whale” of a client.
Transcript
The objection that we ran into and this is a thing, right, is when you’re working with bigger companies, you’re going to run into sometimes like called a chain of command thing where you’re talking to people that are not necessarily the sole decision maker.
But it can be murky, right? Because you don’t know exactly what the decision making process is unless it’s like a giant billion dollar corporation. And this stuff is like literally like all written out in policy. It’s sometimes not the case.
So in these rehabs, even though they’re, I mean, these are big entities, right? They’re going to spend hundreds of thousands dollars a month. They’re still owned sometimes by a few specific people that have a lot of say in what happens.
So even though we may be talking to the guy that’s got the ability on paper to pull the trigger on marketing stuff, he still has to get sign off probably on certain things. His whole plan has to make sense.
So we had an instance where he basically they wanted to start by spending twenty five grand a month and then they wanted to basically scale that up to eventually five hundred fifty thousand dollars a month by the following January.
Their argument was, well, we don’t want to pay twenty thousand dollars a month as a base because for us on these bigger campaigns, that’s 20 grand a month. Not including ad spend. And that’s up to $100,000. And they’re like, well, we don’t want to spend $20,000 to manage $5,000.
And so for me, you know, I went back and I’m like, well, let’s let’s think about this logically. You know, we can do what we do because you went out, you looked you can’t find other people.
And the other important thing is, you know, we have to figure out what the core issue is here is that you can’t sign off on this budget? You don’t think it will work. You need to cash flow some stuff first?
You know, you basically dig around for the problem and then if it’s like, all right, well, we need to cash flow some more of these deals.
OK, cool. Guess what?
We have an organic strategy we can launch that’ll bring in some some deals for you guys real quick.
We’ll hit up your entire past list. 60% of people go through rehab, actually relapse. So literally, you can contact people that have been to rehab in the past and sometimes more than 50 percent chance since that time that they left rehab, they have relapsed. They may not currently be relapsed, but it’s worth doing. So. That’s one option, right?
It’s never just like a OK, we can’t do it.
But then I also, you know, made them a nice little graphic that shows the amount of money they spend over time and what happens to it. And so I said, look, the lowest you can get someone to manage your ad spend is probably 7 1/2%. So, they won’t do 7 1/2% , by the way, to start. So out of the gate there are twenty five thousand dollars that you want to have them manage. They’ll be charging you five. And they’ve only got twenty thousand dollars to spend on getting admits.
Well, with that they’ll probably get two because the best we’ve seen anyone else do is about eight thousand. We do five. That’s the most expensive we get them at.
So if you’re only spending twenty five grand. Yeah, they’ll get you more admits. But that quickly changes once you start spending 40 grand.
Now you’re 40 grand. You’re getting 4 admits and we’re getting 4 admits then. Which of us is actually able to spend the five hundred and fifty thousand dollars a month that you plan on spending a year for now because you’re opening two more facilities?
Clearly us because if you do the math here at 550, even if you pay us or 20 percent, you’re looking at a bottom line additional 10 million dollars a year. And here’s how that comes out.
If you were spending five fifty and you subtract 7 1/2 percent and take the remainder of that as being spent and you’re assuming they’re getting the best that I’ve seen anyone do with AdWords and other stuff. Eight thousand dollars an admit, you’re getting about at thirty thousand dollars a piece. You’re bringing a one point nine million in gross revenue.
Now, on the other hand, if we’re doing it on our end at five hundred and fifty thousand dollars, even if you pay us a hundred thousand dollars a month and spend the rest at 450, we’re getting ninety admits. Ninety admits times thirty thousand is 2.7 million.
And here’s the thing about the 2.7 million… that’s an additional eight hundred thousand dollars a month that is all profit, not revenue. Not just, oh well we’re just we’re making more money but we’re not getting any more in our pocket. Now, that’s ten million dollars a year in that model.
So why are we basically talking about an extra ten thousand dollars a month here or fifteen thousand dollars a month out of the gate to start, when we’re talking about saving you 10 million dollars a year. When this thing ramps up a year from now, know that’s like the epitome of foolish.
And if you want to use another company to start, well, then what’s the point of dialing in something you’re never going to scale with? There’s zero point.
So you either didn’t budget enough for this and we need to wait. Or we can do an organic campaign and trigger things up.