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Friday, May 19 2023
10 Must-Read Tips BEFORE Selling A Payroll Service

How To Sell Your Payroll Service
With Confidence: 10 Must-Read Tips

By Glenn Fallavollita, President of SellMorePayroll.com

  • Word Count: 464
  • Read Time: 1.4 Minutes

Selling your payroll service is a life-changing event. And while most owners are successful entrepreneurs, the majority of them have limited experience when it comes to selling their business.

10 'Must Read' Tips BEFORE Selling Your Payroll Service.

#1: Hire A Broker Who Knows The Payroll Industry - The vast majority of owners in the payroll industry don’t know where the landmines are when selling their business. A broker can help you in these key areas:

  • Discuss what buyers would be willing to pay for your book of business, i.e., the multiple.
  • Identify 4 – 8 potential buyers, along with their pros and cons.
  • Help you select the optimum buyer for your situation/needs/goals.
  • Together with the help of your lawyers, take part in negotiating the sale.
  • BEFORE the transition process happens, help you set expectations for your staff and limit their uncertainty post the sale (this is huge).

#2: Retain Experienced Legal Counsel - This may be a once-in-a-lifetime event for you, and you need to make sure you choose an experienced attorney.

#3: Update Your Corporate Files, Records, And Agreements - A review (and clean-up) will save you some significant time and costs with a buyer.

#4: Re-Examine All Contracts - From lease contracts, employment contracts, loan agreements, shareholders, and vendors, all need to be reviewed for termination wording, etc.

#5: Create An Internal Team - The selling process takes a lot of work, and you will likely need help from people familiar with the business, i.e., CFO, spouse, HR manager, etc. In some cases, your internal team is given a bonus if they stay on for X weeks post-closing.

#6: Consider Your Tax Issues - Take a moment to consider if there are any major financial and/or tax consequences – and then work with your tax and legal advisors about how best to maximize your situation.

#7: Determine A Post-Closing Employment - Depending on how your deal is structured with a buyer, you may want to stay on a consultant to maximize retention.

#8: Pay Attention to A Buyer’s LOI - The LOI is often the primary document you will enter into with a buyer. While most LOIs are normally “non-binding,” it’s an important document because it sets out the parties’ general expectations. IMPORTANT: Review your LOI with your key advisors before signing it.

#9: Your Staff – Based on how your deal was structured, you need to know what will happen to your employees post the sale. 

​#10: Know The 'Restrictive Covenants' - Restrictive covenants are the details in your LOI/Purchase Of Sale agreement that could present you from starting a new business, contacting past clients and referral partners, to hiring past employees. Talk with your attorney(s) about your plans so they negotiate them into the purchase agreement. 


About The Author:

Glenn Fallavollita is a highly acclaimed keynote speaker renowned for delivering invaluable sales and marketing advice to business owners and sales leaders, enabling them to win more payroll sales and produce more referrals from their database of clients and referral partners.

Additionally, Glenn is the president of SellMorePayroll.com and Drip Marketing, Inc. and has written 50+ whitepapers and three sales/self-marketing books, Supercharge Your Payroll Sales NOW!Stop Whining AND Start Selling, and Drip Marketing: A Powerful New Marketing Strategy That Gets Prospects To Buy From YouHe also writes blogs for LinkedIn and other national websites.

© Drip Marketing, Inc.  All Rights Reserved May Not Be Used Without Written Permission.

Posted by: SellMorePayroll.com AT 06:01 am   |  Permalink   |  Email
Monday, May 15 2023
Payroll Service Newsletters: How To Write Hot, Engaging, & Timely Content

Payroll Service Newsletters: How To Write
Hot, Engaging, And Timely Content

(To Help You Win More Payroll Sales & Referrals)

By Glenn Fallavollita, President of SellMorePayroll.com

  • Word Count: 441
  • Time To Read: 1.7 Minutes 

Writing content for a payroll newsletter requires a balance between providing valuable information and engaging your readers. That said, I have listed a step-by-step guide below to help you write effective content for your payroll newsletter:

  • Understand Your Audience: Consider the database(s) your newsletter is being sent to, i.e., payroll clients, prospects, and/or referral partners, i.e., CPAs. Tailor your content to meet their needs and solve their problems and frustrations.
  • Establish A Goal: Determine the purpose of your newsletter. Do you want to educate your readers, provide updates, or promote new services? Having a clear goal will help you structure your content effectively.
  • Create An Outline: Plan the structure and organization of your newsletter. Divide it into sections or topics, ensuring a logical flow. Common sections in a payroll newsletter include payroll tips, regulatory updates, employee spotlights, and company news.
  • Provide Educational Content: Share informative articles, tips, and best practices related to payroll management. You can cover topics such as payroll / HR compliance, tax updates, payroll and timekeeping automation, employee benefits, and time management strategies.
  • Highlight Regulatory Changes: Keep your readers informed about new payroll-related laws, regulations, or compliance requirements. Explain the implications and offer guidance on how to adapt to these changes.
  • Feature Employee Spotlights: Showcase outstanding employees or teams and recognize their achievements. Highlight their contributions to the company and how they positively impact payroll processes or related areas.
  • Include Company News: Share updates about your organization, such as new hires, promotions, company events, or upcoming changes. Make it personal and emphasize the impact on payroll and HR functions.
  • Incorporate Visual Elements: Use relevant images, charts, or infographics to enhance the visual appeal of your newsletter. Visuals can help break up the text and make the content more engaging.
  • Use A Conversational Tone: Write in a friendly and conversational style to connect with your readers. Avoid jargon or complex terminology, and instead, explain concepts in simple and understandable language.
  • Add A Low-Risk Call-To-Action: Include a clear call-to-action at the end of your newsletter. It could be encouraging readers to contact your payroll team for assistance, signing up for a webinar or training session, or providing feedback on the content.
  • Proofread And Edit: Before sending out your newsletter, proofread it thoroughly for grammar, spelling, and formatting errors. Ensure that the content is clear, concise, and error-free.
  • Schedule Regular Newsletters: Consistency is key. Set a schedule for sending out your payroll newsletters, whether it's monthly or quarterly; stick to the schedule to maintain reader engagement and build anticipation.

Summary:

Remember to analyze the performance of your newsletters by monitoring open rates, click-through rates, and reader feedback. This information will help you refine your content strategy and create even more engaging newsletters in the future.

About The Author:

Glenn Fallavollita is a highly acclaimed keynote speaker renowned for delivering invaluable sales and marketing advice to business owners and sales leaders, enabling them to win more payroll sales and produce more referrals from their database of clients and referral partners.

Additionally, Glenn is the president of SellMorePayroll.com and Drip Marketing, Inc. and has written 50+ whitepapers and three sales/self-marketing books, Supercharge Your Payroll Sales NOW!Stop Whining AND Start Selling, and Drip Marketing: A Powerful New Marketing Strategy That Gets Prospects To Buy From YouHe also writes blogs for LinkedIn and other national websites.

© Drip Marketing, Inc.  All Rights Reserved May Not Be Used Without Written Permission.

Posted by: SellMorePayroll.com AT 07:26 am   |  Permalink   |  Email
Monday, May 15 2023
6 Steps To Help You Become A Payroll Industry Subject Matter Expert

6 Steps To Help You Become A
Payroll Industry Subject Matter Expert 

By Glenn Fallavollita, President of SellMorePayroll.com

  • Word Count: 483
  • Time To Read: 1.9 Minutes

In today's competitive business landscape, establishing your payroll service as a subject matter expert (SME) can provide significant advantages. More importantly, being a SME plays a key role in attracting new payroll clients AND referrals from your database of referral partners, i.e., CPAs. And by sharing your expertise and insights, you will gain visibility and credibility as an industry leader.

6 Steps To Help Position You/Your Business As A SME.

#1: Develop Deep Industry Knowledge

To position your business as an SME, it is crucial to have comprehensive knowledge of the payroll service, timekeeping, and HR industry. Stay updated on industry trends, regulatory changes, best practices, and emerging technologies. I also recommend attending/speaking at industry conferences, seminars, and webinars. Also, don’t forget to write blogs for your website and partners.

#2: Specialize and Identify Your Niche

Identify a specific niche within the payroll service industry where you can focus your expertise. This could be a particular sector, such as healthcare or retail, or a specific aspect of payroll, like compliance or payroll software solutions. Specializing allows you to differentiate your business from competitors and showcase your in-depth payroll, timekeeping, etc., knowledge.

#3: Create Valuable Content

Sharing high-quality, informative content is a powerful way to establish yourself as an SME; therefore, it is important to create blog posts, articles, whitepapers, case studies, e-books, and video tutorials related to the payroll, timekeeping, HR, and related industries your target audience should read. You can distribute your content through your website, social media platforms, industry publications, and relevant online communities to reach a wider audience.

#4: Engage in Thought Leadership

Actively participate in industry seminars, webinars, conferences, etc. Don’t forget to seek opportunities to be a guest speaker or panelist at conferences, webinars, or podcasts. Offer to write guest blog posts or be interviewed by influencers in the payroll service industry.

#5: Leverage Customer Success Stories

Obtain testimonials from satisfied clients and showcase them on your website and marketing materials. Actively engage with your clients, listen to their feedback, and continuously improve your services based on their needs. Positive customer experiences and testimonials can significantly enhance your reputation and attract new clients.

#6:  Network And Join Industry Events

Building a strong professional network is vital for positioning yourself as an SME. Attend industry events, join relevant associations and organizations, and actively participate in networking opportunities. Don’t forget to consider joint partnerships to expand your reach within the industry.

Summary:

Becoming a subject matter expert in the payroll service industry requires dedication, continuous learning, and a strategic approach. And by deepening your industry knowledge, specializing in a niche, creating valuable content, leveraging customer success stories, networking, and investing in professional development, you can position your business as a trusted authority in the payroll service industry. Establishing your SME status will enhance your brand reputation, attract clients, and open doors to new growth opportunities.

About The Author:

Glenn Fallavollita is a highly acclaimed keynote speaker renowned for delivering invaluable sales and marketing advice to business owners and sales leaders, enabling them to win more payroll sales and produce more referrals from their database of clients and referral partners.

Additionally, Glenn is the president of SellMorePayroll.com and Drip Marketing, Inc. and has written 50+ whitepapers and three sales/self-marketing books, Supercharge Your Payroll Sales NOW!Stop Whining AND Start Selling, and Drip Marketing: A Powerful New Marketing Strategy That Gets Prospects To Buy From YouHe also writes blogs for LinkedIn and other national websites.

© Drip Marketing, Inc.  All Rights Reserved May Not Be Used Without Written Permission.

Posted by: SellMorePayroll.com AT 07:10 am   |  Permalink   |  Email
Tuesday, May 02 2023
6 Reasons Why No One Will Remember Your Payroll Service

6 Reasons Why No One
Will Remember Payroll Service

(And How To Fix It)

By Glenn Fallavollita, President of SellMorePayroll.com

  • Word Count: 329
  • Time To Read: 90 Seconds 

In 2022, the number of small businesses in the US reached 33.2 million, making up nearly all (99.9 percent) US businesses. And according to the US Small Business Administration, there are:

  • 650,000 businesses have under 500 employees.
  • 5.4 million businesses with fewer than 20 employees.
  • 27 million businesses do not hire any employees.

And with this many businesses in the USA, you're probably saying to yourself, "If they only knew about my payroll service, I would be able to grow my sales exponentially."

6 Reasons Why A Prospect / Referral Partner Won't Remember Your Payroll Service:

  • Reason #1: 100% of all payroll salespeople place a subjective "call-back date" if a prospect or referral source isn't ready to make a purchase or referral decision. Unfortunately, the majority of these calls are never made due to reasons # 2 and #3 below.
  • Reason #2: 40% of all salespeople feel that prospecting is one of the most challenging aspects of their job; therefore, most flat-out ignore this crucial activity.
  • Reason #3: 50% of all salespeople stop calling a prospect, for 9 to 12 months or altogether, after their first unsuccessful attempt at moving the sales process forward. This percentage skyrockets to 95% after their third unsuccessful attempt. 
  • Reason #4: 50% to 66% of all newly hired PAYROLL salespeople* will quit or get fired in their first 6 - 9 months. 
  • Reason #5: During cold-calling:
    • 95% of what you tell a cold prospect/referral partner on the phone is forgotten within 2 - 24 hours. 
    • 95% of all "prospecting phone calls" go directly to voicemail (most "prospecting" voicemails are deleted after 2.5 - 3.0 seconds). 
  • Reason #6: 95% of all payroll services* don't provide their sales staff with any sales training "on prospecting" after 30 days of employment.

*At smaller independent payroll service bureaus.

IMPORTANT: If you are a business owner or sales leader, don't think for one minute that your salespeople are "maintaining contact" with their database of prospects or referral partners.

How To Fix This Problem...

After reviewing the sales stats above, it should be clear to you the benefits of having an automated drip marketing system - a system that nurtures your database of prospects and referral partners even when your salespeople stop calling (which they will).

To learn how to implement an automated drip marketing system, contact the marketing experts at SellMorePayroll.com. 

About The Author:

Glenn Fallavollita is a highly acclaimed keynote speaker renowned for delivering invaluable sales and marketing advice to business owners and sales leaders, enabling them to win more payroll sales and produce more referrals from their database of clients and referral partners.

Additionally, Glenn is the president of SellMorePayroll.com and Drip Marketing, Inc. and has written 50+ whitepapers and three sales/self-marketing books, Supercharge Your Payroll Sales NOW!Stop Whining AND Start Selling, and Drip Marketing: A Powerful New Marketing Strategy That Gets Prospects To Buy From YouHe also writes blogs for LinkedIn and other national websites.

© Drip Marketing, Inc.  All Rights Reserved May Not Be Used Without Written Permission.

Posted by: SellMorePayroll.com AT 06:49 am   |  Permalink   |  Email
Monday, May 01 2023
How To Write Great Content For Your Payroll eMail Newsletter

How To Write Great Content For
Your Payroll eMail Newsletter

By Glenn Fallavollita, President of SellMorePayroll.com

  • Word Count: 496
  • Read Time: 2.0 Minutes

As the payroll industry continues to grow and evolve, it is essential for clients, prospects, and referral partners to stay informed about the latest developments, HCM trends, government / IRS regulations, and new technology. And because of this, sending them a newsletter can be an excellent tool for keeping them up-to-date with important news and best practices.

However, creating engaging content is not always easy. In this article, I will provide you with some tips, ideas, and guidelines for writing compelling and informative content for your payroll service newsletter.

  • Identify Your Audience  - The first step in creating great content for your payroll service newsletter is to identify your audience. Who are you writing for? Are you targeting business owners, CFOs, and HR pros with less than 20 or more than 250 employees? Understanding your audience will help you create content that is timely, relevant, useful, and engaging.
  • Keep Your Content Concise - Payroll is a complex and technical field, but your content should be easy to read and understand. Avoid using jargon and technical terms that may confuse your readers. Keep your sentences short and to the point, and use bullet points and subheadings to break up long paragraphs.

  • Be A Fountain Of Knowledge - Informative content is king. Share insights, best practices, and tips that can help your readers improve their payroll processes or stay informed about the latest industry trends. Make sure your content is up-to-date and accurate.

  • Use Real-Life Examples - One of the best ways to make your content more engaging is to use real-life examples. Share stories about how other businesses have tackled payroll challenges or improved their processes. Use case studies and testimonials to show how your readers can benefit from your advice.

  • Include Visual Testimonials/Stories - Visuals can make your content more engaging and help your readers understand complex topics. Use videos for charts, graphs, and infographics to help illustrate your point. Use images and videos to break up text-heavy content and make it more visually appealing.

  • Engage With Your Audience - Encourage your audience to share their feedback and insights. Ask for comments and questions, and respond to them in a timely manner. Use social media to engage with your readers and share your content. Use polls and surveys to gather feedback and insights from your audience.

  • Develop A Drip Marketing Plan - Consistency is key when it comes to creating great content for your payroll service newsletter. Set a schedule for publishing your content and stick to it. Make sure your content is consistently high-quality and relevant to your audience.

In summary, creating great content for your payroll service newsletter requires a clear understanding of your audience, concise writing, informative content, real-life examples, visuals, engagement, and consistency. By following our guidelines, you can create a newsletter that is both informative and engaging, and that helps your readers to stay up-to-date with the latest government regs, compliant with HR-related laws, etc.


About The Author:

Glenn Fallavollita is a highly acclaimed keynote speaker renowned for delivering invaluable sales and marketing advice to business owners and sales leaders, enabling them to win more payroll sales and produce more referrals from their database of clients and referral partners.

Additionally, Glenn is the president of SellMorePayroll.com and Drip Marketing, Inc. and has written 50+ whitepapers and three sales/self-marketing books, Supercharge Your Payroll Sales NOW!Stop Whining AND Start Selling, and Drip Marketing: A Powerful New Marketing Strategy That Gets Prospects To Buy From YouHe also writes blogs for LinkedIn and other national websites.

© Drip Marketing, Inc.  All Rights Reserved May Not Be Used Without Written Permission.

Posted by: SellMorePayroll.com AT 01:07 pm   |  Permalink   |  Email
Monday, May 01 2023
6 Tips To Read Before You Sell Your Payroll Service

6 Tips To Read Before
You Sell Your Payroll Service

By Glenn Fallavollita, President of SellMorePayroll.com

  • Word Count: 405
  • Read Time: 1.6 Minutes

Selling a payroll service business can be a complex process, but here are some steps to consider:

#1: Determine the value of your business: You should start by valuing your payroll business by talking with an independent broker and other owners who have sold their payroll business in the last 12 months. Factors that will affect your value: The number of clients on file, what services you sell to each client, pricing, each client's annual revenue, if a small percentage of clients generate a large portion of your annual sales, etc.

#2: Prepare your financial records: Your financial records should be in order, including your P/L statements, balance sheets, and tax returns.

#3: Find potential buyers: There are several ways to find potential buyers, including talking with a broker, your network, employee(s), back office license holder, and your industry colleagues who have sold their payroll business in the past 12 months.

#4: Interview potential buyers: You should interview potential buyers to ensure they have the financial means to purchase your business and have the expertise to operate it. You also need to determine what will happen to your staff, i.e., being part of the purchase or they need to find new employment.

#5: Negotiate the Letter of Intent (LOI): Once you have identified a buyer(s), you will need to negotiate a letter of intent (LOI). As I tell my brokerage clients, the best deal is when the owner thought they didn't get enough AND the seller thought they paid too much.

#6: Finalize the sale: After negotiating your LOI, you will need to finalize the sale with the new owner. Unfortunately, this is where many deals go sideways, as the buyer starts to add new terms to the agreement, i.e., working capital in a checking account, defining when a client becomes their "client, capping the purchase price, etc.

Important Points To Read:

  • During the 'purchase of sale' agreement process, a buyer will start to nibble at your multiple by adding extra costs for you to absorb or capping the 'purchase price,' etc. When you see me at the TPG Conference May 8th - 10th in Orlando, FL, ask me how I know!
  • Selling a payroll service will always be an emotional process for an owner(s). And if an owner(s) isn't careful, they could leave a lot of money on the table. Again, ask me how I know!
  • It is important to seek professional advice from a business broker AND attorney to help guide you through this process.

About The Author:

Glenn Fallavollita is a highly acclaimed keynote speaker renowned for delivering invaluable sales and marketing advice to business owners and sales leaders, enabling them to win more payroll sales and produce more referrals from their database of clients and referral partners.

Additionally, Glenn is the president of SellMorePayroll.com and Drip Marketing, Inc. and has written 50+ whitepapers and three sales/self-marketing books, Supercharge Your Payroll Sales NOW!Stop Whining AND Start Selling, and Drip Marketing: A Powerful New Marketing Strategy That Gets Prospects To Buy From YouHe also writes blogs for LinkedIn and other national websites.

© Drip Marketing, Inc.  All Rights Reserved May Not Be Used Without Written Permission.

Posted by: SellMorePayroll.com AT 09:27 am   |  Permalink   |  Email
Monday, May 01 2023
How To Stop Looking Like A

How To Stop Looking Like A
"Small, Me-Too” Payroll Service

By Glenn Fallavollita, President of SellMorePayroll.com & Drip Marketing, Inc.

  • Word Count: 403
  • Time To Read: 1.6 Minutes

Are you tired and looking like a small "me-too" payroll service? If you are, you're not alone, as many payroll pros use the same tired old lines in their marketing messaging - which can make it difficult to stand out from the competition. Some common marketing/sales phrases include:

  • We offer great customer service.
  • Our payroll experts are here to help you.
  • We do more than payroll; we have a great workforce management system.
  • We’re cheaper than your current payroll service.
  • We’ve been in business since XXXX.
  • You’ll get a dedicated payroll specialist.

You Have .5 To 1.5 Seconds To Capture A Payroll Prospect’s Attention.

Your marketing messages must resonate with your target audience; if not, they will skip over your e-mail campaign, stop reading your website, or only look at price as the key differentiator. 

Get In The Mind Of A Prospect Before Writing Your Next Campaign.

Research has proven that the average person will spend less than 15 reading your website or .5 seconds reading a subject line in their inbox. And during this time, their brain will process some of the questions listed below to determine if they should continue reading to learn more or open your e-mail message:

  • Are they saying things that are important to me?
  • What makes this payroll service any better or different from the one I am using now?
  • Why should I consider their offer of X, Y, or Z?
  • Do I know this company?
  • Do I need a new payroll service / HCM system?
  • Should I compare my current payroll service to theirs?
  • What is this company selling?

Every prospect/referral partner is just like you; they have limited time to learn about your payroll service as they are trying to do more work with fewer resources. And the more in sync your messages are with someone's problems, frustrations, annoyances, and needs, the quicker you will get their attention. Period. 

Executive Summary: With the average person exposed to thousands of marketing messages daily, what are your plans to change what you are saying? 


About The Author:

Glenn Fallavollita is a nationally recognized keynote speaker providing money-making advice to help payroll service owners, sales pros, and marketing gurus build more profitable relationships with their database of prospects, referral partners, and clients.

Additionally, Glenn is the president of SellMorePayroll.com and Drip Marketing, Inc. and has written 50+ whitepapers and three sales/self-marketing books, Supercharge Your Payroll Sales NOW!Stop Whining AND Start Selling, and Drip Marketing: A Powerful New Marketing Strategy That Gets Prospects To Buy From YouHe also writes blogs for LinkedIn and other national websites.

© Drip Marketing, Inc.  All Rights Reserved May Not Be Used Without Written Permission.

Posted by: SellMorePayroll.com AT 07:21 am   |  Permalink   |  Email
Wednesday, April 05 2023
6 Ways To Generate More Sales Leads & Referrals

6 Ways To Generate More Sales Leads & Referrals
(Print And Share At Your Next Sales Meeting)
By Glenn Fallavollita, President - SellMorePayroll.com Drip Marketing, Inc.

  • Word Count: 473
  • Time To Read: 1.9 Minutes

If you want to jump-start your sales, I have listed below some key selling tips for all owners, sales leaders, and sales pros to read.   

#1: Build A Massive e-Mail Database - If you want to see an immediate increase in sales, work on building a massive e-mail database of clients, prospects, and referral partners. If you don’t have enough e-mail addresses, call or e-mail me, as we have an e-mail address acquisition service.

Click Here To Learn More About Our e-Mail Address Acquisition Service.

#2: Connect With Your Payroll Clients - Satisfied clients are the lifeblood of any business. That said, here are a few ideas to help generate more referrals from your database of clients:

  • Say "thank you" to your clients for being a customer.
  • Ask your clients to proactively recommend your business to someone they know.
  • Survey your database of clients to determine how well you are performing (see point #5 below). 

#3: Develop A Drip Marketing Strategy - To market your business cost-effectively, I recommend sending a consistent series of bite-size marketing campaigns versus taking the start-then-stop approach to marketing your business.

#4: Write Relevant Content To A Reader – The first step you need to take is to develop a database of clients, prospects, and referral partners. After that, start sending relevant messages to each group on file.

#5: Pick Up The Phone To Follow Up - Once a drip marketing campaign has been sent, make sure your salespeople call to follow up a campaign. By the way, this is the best way to shake the prospect tree if you want more sales leads and referrals.

To help you sound more professional on the phone, I have outlined two voicemail scripts to consider:

  1. Hi _______this is ______ from ______________. I’m just quickly following up on an e-mail we sent to you about our free _______ offer.  If you would like to find out how our ____________ can reduce employee lawsuits, call me at (800) 555-1212, again, (800) 555-1212.
  2. Hi _______this is ______ from ______________. I’m just quickly following up on an e-mail we sent you about our free ________ demo.  If you would like to find out how we can reduce your ______ by XX% in 21 days or less, call me at (800) 555-1212, again, (800) 555-1212.

#6: Survey Your Clients - A client survey can provide you with a tremendous amount of feedback. Specifically:

  • How well your business is performing.
  • Generate more referrals (we show our clients this all the time).
  • Determine if a client needs a particular product or service.

Executive Summary: Bringing on new clients is the lifeblood of any payroll service. And if you want to see an increase in new business, you need to TAKE ACTION today, not tomorrow. 


About The Author:

Glenn Fallavollita is a highly acclaimed keynote speaker renowned for delivering invaluable sales and marketing advice to business owners and sales leaders, enabling them to win more payroll sales and produce more referrals from their database of clients and referral partners.

Additionally, Glenn is the president of SellMorePayroll.com and Drip Marketing, Inc. and has written 50+ whitepapers and three sales/self-marketing books, Supercharge Your Payroll Sales NOW!Stop Whining AND Start Selling, and Drip Marketing: A Powerful New Marketing Strategy That Gets Prospects To Buy From YouHe also writes blogs for LinkedIn and other national websites.

© Drip Marketing, Inc.  All Rights Reserved May Not Be Used Without Written Permission.

Posted by: SellMorePayroll.com AT 06:00 am   |  Permalink   |  Email
Tuesday, January 03 2023
How To Increase Your e-Mail Open Rates By 20%, 33% Or More

How To Increase Your e-Mail
Open Rates By 20%, 33%, Or More

(PRINT AND USE AT YOUR NEXT SALES MEETING)
By Glenn Fallavollita, President of SellMorePayroll.com & Drip Marketing, Inc

  • Word Count: 389
  • Time To Read: 1.6 Minutes

Are you concerned that your e-mail marketing campaigns aren’t being opened by your database of payroll prospects and/or referral partners? If you are, you will find the strategies I have below of tremendous value.

Factors Affecting E-mail Open Rates.

Many factors will influence the open rate of an e-mail campaign. They are:

  • Content relevance from past e-mail campaigns.
  • Database being used, i.e., client vs. prospect database.
  • Day of the week the campaign was sent.
  • Frequency/recency of past e-mails sent.
  • Subject line used.
  • The name in the “From” field.
  • Time of day.
  • Word count from past e-mail campaigns.

7 Subject Line Tips:

  1. Use A Subject Lines That Generates Curiosity: Curiosity is basic human nature. When your subject line strikes one’s curiosity chord, it will trigger them to open your e-mail.
  2. Use A Personalized Subject Line: Personalizing your e-mail subject line helps foster familiarity with a reader, therefore, increases their sense of trust in you/your business.
  3. Announce A Free Offer In The Subject Line: Freebies; who doesn’t love them as they act as incentives to help someone take the next step in the buying process.
  4. Use A Humorous Subject Line: Humorous subject lines will stick out in your readers’ inboxes and trigger them to smile; therefore, open your e-mail.
  5. Use A Shocking Subject Line: A good way to grab a reader’s attention is to state something unexpected.
  6. Ask A Question: Asking a question in the subject line makes someone think, i.e., Do you hate your payroll service? or Do you need a new payroll service in 202X?
  7. Fear Of Missing Out: You can use fear in your subject lines by adding 1. an element of shortage (limited availability) or 2. Urgency (offer end date).

How To Do An A/B Test:

  • Sort your e-mail database by e-mail address.
  • Create two lists (of equal size) from the abovementioned sort.
  • Create two identical e-mails.
  • Write two different subject lines for each campaign.
  • Send the campaigns out on the same day/time. 

If you are unhappy with your e-mail open rates, take a moment to change things up. Conversely, if you are happy with your e-mail open rates, you can always do better.

About The Author:

Glenn Fallavollita is a nationally recognized keynote speaker providing money-making advice to help payroll service owners, sales pros, and marketing gurus build more profitable relationships with their database of prospects, referral partners, and clients.

Additionally, Glenn is the president of SellMorePayroll.com and Drip Marketing, Inc. and has written 50+ whitepapers and three sales/self-marketing books, Supercharge Your Payroll Sales NOW!Stop Whining AND Start Selling, and Drip Marketing: A Powerful New Marketing Strategy That Gets Prospects To Buy From You. He also writes blogs for LinkedIn and other national websites.

Copyright © 2022

Posted by: SellMorePayroll.com AT 10:28 am   |  Permalink   |  Email
Tuesday, December 20 2022
5-Steps To Help You Close More Payroll Proposals

5-Steps To Help You Close
More Payroll Proposals

(PRINT AND USE AT YOUR NEXT SALES MEETING)
By Glenn Fallavollita, President of SellMorePayroll.com & Drip Marketing, Inc

  • Word Count: 389
  • Time To Read: 1.6 Minutes

Most payroll salespeople stop following up on a proposal after one or two attempts at moving the sales process forward. Therefore, if you are a sales leader for your payroll service, it would be in your best interest to train your sales team on the steps below, especially when you consider the staggering statistics below.

How Many Contacts Does It Take To Close A Sale?

  • 2% are made on the 1st contact.
  • 3% are made on the 2nd contact.
  • 5% are made on the 3rd contact.
  • 10% are made on the 4th contact.
  • 80% are made on the 5th to 12th contact.

Try This 5-Step Proposal Closing Process:

If you are in sales (or a sales leader), you might find the 6-step process I have outlined below of value:

  • Step #1: Proof Every Proposal - A second person should proof all proposals.
  • Step 2: Log The Proposal - A salesperson needs to track every proposal to their proposal tracking report.
  • Step 3: Proposal Review Call Time - Before a proposal is sent to a prospect, the salesperson sets up a proposal review time with a decision maker. 
  • Step 4: Executive Follow-Up Call - The owner/sales leader calls the prospect to thank the person for the opportunity to earn their business and do a trial close, i.e., “When did you want to run your first payroll with us?”
  • Step 5: Thank You Note - The salesperson sends a handwritten "thank you for your time" greeting card via the USPS.

Other Steps (For Sales Leaders):

  • Set up a sequence of phone calls (or meetings) to follow up on the proposal.
  • Develop an educational e-mail follow-up campaign/s (see sample below).

Click here for a sample "Thank You" greeting card via Amazon.com.

Send This e-Mail Within 24-Hours Of Delivering A Proposal.

Dear (first name),

Thank you for the opportunity to earn your business this week.  By the way, I have attached a few items you might want to read:

  • An article/whitepaper on X, Y, and Z.
  • Some recent client testimonials about our X, Y, and Z.

Again, thank you for giving us the opportunity to earn your business!

Warmest Regards,

(Your name, title, etc.)

Executive Summary: During your next one-on-one meeting with your salespeople, ask each person to give you their proposal pipeline report. Now, ask each salesperson these two questions:

1. “When will this company make a buying decision?”
2. “What is your follow-up plan for every proposal that hasn’t been closed?”

After listening to their answers, this e-mail will make complete sense to you.

About The Author:

Glenn Fallavollita is a nationally recognized keynote speaker providing money-making advice to help payroll service owners, sales pros, and marketing gurus build more profitable relationships with their database of prospects, referral partners, and clients.

Additionally, Glenn is the president of SellMorePayroll.com and Drip Marketing, Inc. and has written 50+ whitepapers and three sales/self-marketing books, Supercharge Your Payroll Sales NOW!Stop Whining AND Start Selling, and Drip Marketing: A Powerful New Marketing Strategy That Gets Prospects To Buy From You. He also writes blogs for LinkedIn and other national websites.

 Copyright © 2022

Posted by: SellMorePayroll.com AT 05:44 am   |  Permalink   |  Email