My client acquisition strategies

Our consultancy is averaging $ 60k profit per month right now since COVID began – all without spending a dollar on ads. We’ve mapped out exact client acquisition process for you, including every lead generation channel we use + cost per lead per channel + lead volume per channel

Along the way, we experimented with a dozen different client acquisition strategies. Some worked great, some were a total waste of money, and some in-between.

I figure I’d write out my own experiences so that anyone here who is building somewhat of a similar business can avoid mistakes that we’ve made.

Important Note: We sell a high-ticket offer that ranges between $ 1k to $ 5k depending on the tier. The strategies I mention here are MUCH more suited if you’re in this ballpark as well. If you’re lower-ticket than this, there are probably other approaches that would work better.

Top Performing Channel: Facebook Organic

Organic Facebook lead generation has been our top performing channel. It makes up roughly 60% of our total lead flow.

The process has a few steps.

First, we optimized Facebook profile and aesthetic to clearly articulate the story and value prop. This means a total upgrade to your pictures and content on your wall, plus appropriate links to your external site and content.

Then, you joined Facebook groups that specifically had an audience similar to your ideal client profile. Facebook now has groups for almost every topic/theme out there on the market, even B2B groups. It’s a big misconception that Facebook is only B2C. We are entirely B2B and Facebook is our biggest money maker.

Once we were in these groups, the mission was to share QUALITY educational content. But just as importantly, NON-PROMOTION oriented content. The purpose here is NOT to sell yourself or your services. It’s purely to help that community with your knowledge.

We did this across 30+ groups consistently, every week. This led to a massive number of people DMing us, sending us friend requests, and engaging in the comments below.

This is how leads enter our funnel. From there, we can have a quick convo in the DM’s and soon after, move to either phone call and discovery/demo.

We are now getting those people inside our group, so it becomes fairly easy to get someone to also opt-in to a call because we’re constantly sharing even more helpful content, providing links to webinars, hosting giveaways, and running the community.

This strategy give us around 15 to 20 high-quality leads per week.

Our primary spend here are the few tools that we use to manage our content posting and Facebook group. Each month, these tools cost around $ 40.

We also have an assistant who manages a lot of the actual content sharing and DM conversations for us, and we pay them a few hundred per month.

Overall, our CPL here is around $ 5. Primarily, the expense is that it takes time to write great content and then managing follow up conversations.

Second Best Performing Channel: Linkedin Organic

Linkedin generates around 30% of our total lead flow.

Like Facebook, the first step is to optimize the Linkedin profile so that it resembles a sales/landing page rather than just a janky online resume..

But the cool difference between Linkedin and Facebook is that it’s way easier to proactively find your ideal customers on Linkedin.

The way we do this is we have subscriptions to both Apollo and Sales Navigator. Both tools help us utilize highly specific search criteria (company size, employee count, industry, job title, seniority, funding, miscellaneous keywords etc) so we can locate our exact decision makers.

Once we have a list of a few thousand quality contacts, we import it into our Linkedin automation tool. This enables us to connect with 75 new people on Linkedin every single day, using a multi-step campaign. Volume matters, after all, outreach is still a numbers game.

However, the important thing to know about Linkedin outreach copy is that it shouldn’t be overly salesy. Linkedin as a channel is great for outreach because it isn’t super saturated, but people there REALLY HATE getting pitched.

Instead, keep things conversational, friendly, and more dialogue oriented. Instead of setting your automation up so it’s pich after pitch after pitch, set it up so it’s curiosity and question driven. Aim to start a dialogue, and once the prospect replies, manually carry the conversation through to a point where it’s logical to suggest a meeting.

Good metrics to aim for is a 35% and up acceptance rate, 10% reply rate, and 5% meeting booking rate. Our best campaign has actually been 45%, 16%, and 10% respectively (on those above KPIs).

However, Linkedin doesn’t just end at outbound messaging.

Just like Facebook, it has an inbound, content-driven element as well.

In fact, it’s EASIER for your content to go viral organically on Linkedin, than on almost any other social media platform.

This is because Linkedin is still in its infancy when it comes to content sharing. Most people don’t do it. As well, Linkedin hasn’t really turned into a pay-to-play model yet, meaning you don’t have to spend money on ads in order to get eyeballs (Facebook and IG have already evolved into a heavily pay-to-play model).

So when you share epic content on Linkedin, share consistently at 3 to 4 times a week, and utilize some nifty behind-the-scenes Linkedin growth hacks to spike your content engagement (ie. capitalizing on the 1-hour algorithm spike, collaborating with other well-known influencers to borrow their reach, and many other hacks), you can actually have your content reach TENS OF THOUSANDS of people completely free.

This type of reach is really hard to get on Facebook, Instagram, and most other channels.

And by getting this reach, you’ll see your own follower count and inbound DM’s spike.

Linkedin generates us 7 to 12 high-quality sales demos per week.

Primary expense here are the two tools we use for Linkedin automation and list-building. Collectively, they cost around $ 150.

We also have our assistant helping here as well to handle the DMs and content engagement.

CPL for this channel is around $ 8. There is a time expense however when it comes to building lists and content creation. However, it’s not that significant.

Supplemental Channel: Referrals & Partnerships

Referrals and Partnerships make up 5% of our lead flow.

This is quite straightforward.

If you do good work for your customers, they’ll refer you to friends.

And sometimes, you can even incentivize your clients to make referrals to you by giving them a 10% finders fee.

Just make sure you only bring it up if that particular client enjoyed the experience with you. It’s pretty awkward to ask for referrals from a customer that didn’t see value from your services.

Just like podcasting, this has been a pretty passive strategy for us. We don’t proactively go and find referral partners. Usually, we just stumble on them at networking events, or during my outreach, or we’ll even get hit up by people wanting to collaborate.

However, if you want this to be a cornerstone strategy, you can proactively build a list of dream partners, and outreach to them explaining how a partnership can be mutually beneficial.

We usually give a 20% referral fee to dedicated referral partners to incentivize them.

We typically get 1 to 2 demos a week from referrals and partnerships.

The expense here is that we give 10% to 20% of closed revenue to the referral partner. However, it’s purely variable, so we can accept that.

Important Note

It's critical to NEVER try to implement multiple new strategies simultaneously.

It's hard to make any new channel to work. You have to set it up, measure, iterate, etc…

We always try to crack the code on one channel first, and make it highly profitable and mostly automated before I move on to adding another channel.

Otherwise, you'll have multiple underperforming channels that you never truly get to work.

To Wrap It Up

We’ve tried over a dozen channels since we began our consultancy. These worked the best, bar none.

If you’re selling high-ticket and want to have absurdly high margins, these organic methods can be game-changing.

Try them out, and let me know how they go! If you have questions or thoughts, just leave them in the comments. I’m always open to networking and meeting you all. Cheers!

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Startups – Rapid Growth and Innovation is in Our Very Nature!

How to price your idea to your first client and how to explain that pricing

Hey guys, I am running a small company that compares energy provider deals for the end customers. Also we have the option if you select a energy provider to generate a contract and sign it digitally which we send to the energy provider. (We can be certain that the energy provider has a client for 1 year) In my country we are first of our kind. We have 2 types of clients – energy providers which pay us and companies who use our service. In order our marketplace to work we need energy providers. So we found our first energy provider but he wants to know what do we charge. Our pricing model is simple we charge for every customer that becomes a client to the energy provider a small percentage fee of his monthly electricity bill. We are self bootstrapped and we are doing everything for fun because its interesting. We have never thought about money or getting to this point. One more thing in other countries such as England or Germany those types of services charge up to 30% of the monthly bill. We are planning to do business in the Balkans. ( 30% is not possible, margins are low).

As far as I know energy providers profit from a customer around 7 euro per month. We provide them a customer for a whole year.

So my question is how should I price my service, what should I take into consideration. I am thinking about 15% from the monthly bill single payment up to a max price.

lets say customer a has a monthly electricity bill of 40euro.We take a single payment for providing our service 15% of 40euro = 6 euro.

What happens if the user has 40+ euro monthly bill ?

Where should I say its our limit of price ?

Is the pricing model correct ?

How do I explain this to the client ?

Our costs are low, where do we draw the line and say we don't want more profit ?

What should you think when you price your idea ?
For me it was income – expense = small profit.
Should we take into consideration growth ?

Thank you for your help.

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Startups – Rapid Growth and Innovation is in Our Very Nature!

[Hailo in PR Newswire] Leading AI Chipmaker Hailo Opens Japan Subsidiary to Support Growing Asia-Pacific Client Base, Expand International Reach

Hailo, the leading AI chipmaker delivering unprecedented performance to edge devices, today announced its international expansion in Japan with the establishment of Hailo Japan G.K., a wholly owned subsidiary located in TokyoHiro Uchida, a former Sony executive, has been appointed President to lead the operation.

Read more here.

The post [Hailo in PR Newswire] Leading AI Chipmaker Hailo Opens Japan Subsidiary to Support Growing Asia-Pacific Client Base, Expand International Reach appeared first on OurCrowd Blog.

OurCrowd Blog

Development client offering me equity rather than money – how to handle

I am a freelance developer who was working for a client for $ 50/hour. He recently asked me to go full time to finish his app, but can no longer keep paying me the same amount because his income was affected by covid.

I think the app is a good idea and offered to work for just enough money to pay my bills (less than 10% of what he would be paying if I went full time hourly) in addition to equity.

But now he's saying that he can only offer me 10% equity in the startup. He ALSO wants to include a clause that says I lose all shares if I leave his new company within 5 years.

I think this is ridiculous, as I'm single-handedly building the app which will be his entire business.

But I'm struggling to figure out what a fair percentage would be. He's paid me hourly to complete about 80% of the MVP. The MVP will likely take about another month and then will require ongoing updates, bug fixes, etc. and he seems to want me to stick around as the CTO for the next few years.

It's just me and him working on this thing right now. Should I just call it quits? He's a cool guy but we've been negotiating for a while and I feel like he just wants me to work for free.

Edit: I did tell him the 5 year clause was completely off the table and am waiting to hear back. Also forgot to mention that although this guy has some good business acumen he knows nothing about running a software/app company. I've built three profitable app companies on my own and am basically telling him how the business model should look.

Edit 2: My question wasn't so much whether to take this deal (I obviously won't), but rather to determine how much equity would make the deal fair

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Startups – Rapid Growth and Innovation is in Our Very Nature!