On this week’s Dear Katie, a firm owner asked: We’re a $4 million firm. Last summer, things got slow. Right now we’re in a good spot with extensions but last summer was the first time in a long time I felt like things were too quiet. How are you advising clients to get through this?”
I think many firms have been in this spot before, and before you rush to do a bunch of lead generation, I want you to hear me when I say this:
For quick results, you probably don’t need more leads.
Yup, I said it.
You probably don’t – yet.
I want you to look through your CRM right now (if you don’t have one, take this as a sign to get one!).
Your CRM is full of people who already know your name: newsletter subscribers, past clients and warm leads.
And they’re just sitting there waiting for you to make the right offer.
Be honest.
When was the last time you made an offer to anyone in your CRM?
I’m not talking about a soft sell of your services, such as, “Hey are you looking for an accountant?”
I mean a clear offer with a call to action to buy your services.
Return on investment for email is between $10 and $36 for every dollar spent. You can close a lot of people in your CRM with a single email or phone call. Firms send out newsletters, make an occasional social media post and rarely say anything that people can say “yes” to in their message.
So, if you want to prevent future slow seasons, you need a clear and compelling offer to turn a person’s attention into action.
Here’s what I recommend:
The “cash surge” offer framework is what we use at Leaders Online. It borrows some components from the irresistible offer framework. Here’s how it works:
Think of it as an “entry-level” offering. The goal is to deliver on the value you promise and win the client’s trust so that they naturally upgrade to your core offering.
One of our clients offered a $497 mini service promising to find $5,000 in tax savings.
And that client offered a full refund if they couldn’t find $5,000 in tax savings. Their clients had nothing to lose and much to gain by using their service.
Here’s why that offer worked so well for our client:
Once a client buys in, they’re 10 times more likely to buy again.
How effective can this strategy really be?
Let’s do the math.
Say you have 400 people in your CRM, and you send your offer to all of them.
Even if just 1.25% say “yes,” that’s five people paying $497 each. That equals $2,485 in cash.
Now, imagine if two of those people moved into a $2,000 monthly retainer.
You’re now up to $4,000 in recurring revenue from just one offer.
And you didn’t need a single lead to get there.
From there, you can upsell or cross-sell into other services your client may need but hadn’t considered before.
The great thing about this offer is that it:
So, if you want to get through the slow season, remember that you don’t necessarily need new leads.
You’ll be amazed by how effective this strategy can be for your firm.
By the way, we had another client test out this offer.
They landed a new client because this prospect found out about her offer from a social media post.
That’s right, a social media post.
Before ever talking to her (yes, they’d only seen a social media post), they purchased the $497 offer, and then they went on to purchase a $2,000 tax plan.
Right now they’re in the middle of the tax plan, but who knows what else is in store.
Bottom line: don’t be afraid to make offers.
And, that’s a wrap on this Dear Katie question.
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Now I want to hear from you. Do you have a question?
Until next time, cheers to your success!
Katie
Start by reviewing your CRM for past clients and warm leads. Reach out with a clear and compelling offer that addresses a specific problem they might have.
Create an entry-level offer that solves a high-volume problem, is priced attractively, and includes a strong guarantee to encourage acceptance.
Make sure your offer provides at least 10 times the value of its cost and clearly communicates the benefits to your clients.
If you send an offer to 400 contacts and just 1.25% respond positively, you could generate around $2,485 in cash from that single outreach.
Making offers helps reactivate your warmest audience, generates quick cash, and builds trust, leading to future work and upselling opportunities.
If you don’t have a CRM, consider investing in one to organize your contacts and track interactions, which will help you effectively reach out with offers.