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Video Summary
You are leaving money on the table! Want to know how much you are losing because you are not properly using your Google reviews?
Answer the 4 questions in this video and you will know how much you’re losing and what you can do to get that money flowing into your business instead.
Video Transcript
Hello, I’m Jeffrey Kirk.
Okay, let me be very clear right at the beginning, this video will be most valuable to you if you already have, or are considering starting a local business. And by local business, I mean a business that serves a local audience, people within a geographic area around your location.
Now that’s not to say this information is useless in other cases, what I want you to understand is that to take full advantage of what I’m talking about today, it’s the local nature of your clientele that makes this payoff most quickly.
Here’s another thing I want to be clear about, I’m going to ask you four questions and I want you to get the answers to each one. You don’t have to share each answer, but it will be worth your time to do these calculations.
If you have a business, then you’ll use your experience and your bookkeeping to come up with some numbers.
If you don’t already have a business, then you’ll have to use your research or your expectations to come up with the numbers.
In either case best guesses are acceptable. You don’t have to work for hours coming up with exact answers. Well, unless that’s your style and that’s what you really want to do, then go for it!
Question #1
The first question I have for you is this, how much is one new client worth to you?
Now, depending on your business, you could consider a client to be worth the value of an average sale, or you could consider it to be the lifetime value, or maybe something in between.
For example, if you’re a real estate agent then how much is an average buyer or seller worth to you? Most people don’t buy many houses so considering a single average sale probably makes the most sense.
For some other businesses, let’s say a dentist office or a chiropractor, your clients are usually repeat clients. So how much is one client worth over the course of a year or several years if they tend to stay around for a long time?
Question #2
Second question, in your local area, your market, how many new prospects are searching for what you do each month?
Again, an educated estimate is fine, but if you want to dig into some real numbers, I have a video called, How Many People Are Searching For Your Business.
This video shows you how to get Google to tell you how many people are really searching. I’ll drop the link to that video below so that you can watch this video as well.
What we’re trying to get to for this answer is a realistic size of your potential audience.
Question #3
The third question is this… If your business has the best search position in the search results, how many prospects in that potential customer base will call you?
So this really depends on your industry and the population of your community. And I can’t really help you with much for this answer other than offer some suggestions…
If you have a small community size, or you don’t have much competition, you’ll get a higher percentage calling. Rarely will anyone get a hundred percent of potential calls, but getting more than a half is possible.
Remember, we’re assuming you have the best possible search position. Now here’s the reality check, if the number seems too big, then you can reduce the answer to the maximum number of calls that you could potentially handle in a month.
Question #4
And here’s question number four. When these prospects call you and they already think favorably of your business, what percentage of them will buy?
In other words, what’s your closing percentage? Now we have to do some math. Don’t worry, it’s simple.
Take the answer to question number one times the answer to question number three times the answer to question number four. In other words, take the value of a client times the number of prospects that call you, times your closing percentage.
I’ll give you a couple examples…
Let’s say a new client is worth $3,000. If eight of them are searching every month and half of them call you, that means there are four calling. If you close 50%, then we have 3000 times four, times 50%, and that’s $6,000 in a month.
Let’s say a new client is worth $250. 26 of them are searching every month and 15 will call you. If you close only 40% of those that’s 250 times 15, times 40%, which is $1,500 in new revenue in a month.
Do the Math! What’s Your Answer?
What’s the answer for your business? Go ahead. You can share that in the comments below.
Whether you share or not, you need to know this number because this is how much money you are already losing every single month because searchers are calling someone else.
All of this depends on your business showing up in the best part of the search results. And do you know what the best part is?
This area is so prominent in the search results and so beneficial to the businesses that show up there, that I call this the Money Zone™ and you definitely want your business showing up in the Money Zone.
And there are three steps to get there. And when you do that, you get the majority of searching prospects calling you.
Three Steps to the Money Zone!
To quickly summarize these steps, you need to qualify to show up. You need to differentiate from the other businesses, and you need to have the best set of Google reviews.
Once you have those things in place, then your business is able to cash in because Google features your business in front of your best searching prospects, prospects who already know the problem they want to solve. The prospects you can true truly help.
I have a free webinar that teaches you how to implement these three steps to get into the Money Zone and get those prospects calling.
Most businesses screw this up, especially the reviews part. So I’ll show you how to do this the right way for maximum benefit.
You’re going to love this webinar because it’ll make a tremendous difference in your business, allowing you to tap into that new revenue potential that you calculated earlier.
Your business deserves to be seen online. So click the webinar link to join me.
Thanks for watching. Please share this with your business friends, and have a great day.
