If the economy is going to give us lemons, let us make lemon drops (take that any way you’d like). The way that I choose to look at the world around me, there is a sugary sweet lining to every challenge that is presented to us. The current situation is no different than any other. Read on! I am going to hand you the key to a little payroll treasure box I found.
On a day when I've seen my little brother’s gift card from the holidays became invalid due the bankruptcy of the issuer... on a day that those who cashed out their retirement and put it under the mattress are the only serious investors left (slight exaggeration, but it sounded nice and alarmist?)...
...I see opportunity!
I see the opportunity for existing and new small and mid-sized payroll service bureaus to take on serious additions to their book of business. We have the opportunity to serve the client in ways that the Big Bureaus cannot. The reality of it is that their forecasted annual attrition of clients is equal to your wildest dreams for your business, and finding a way to channel just a small piece of that action through your door is what we need to concentrate on.
Attrition? To them - meaningless. To you? You could feasibly double your book of business. The question is – are you willing to reach out and make a grab for it?
The Promised Key (Simple, but true)
Small businesses are just dying for someone to come in and help them save money. Aren’t we all?
Helping a small business who is currently using a national bureau save money doesn't require you to change your pricing structure. The market has shifted, and your standard price sheet is looking better every day.
Just yesterday I was talking to a new friend of mine who I met at IPPA’s Sales & Marketing Workshop in Vegas earlier this month and he had a story to share with me about a recently added client. I’ll give you the short and sweet version… As I recall, he sat down with the client to discuss how they could better serve their needs, and found that the national bureau’s pricing was in excess of 40% higher than their retail rates.
Now, even if your sales team is doing a sloppy job of selling your services – how can a client say no to saving that kind of money in today’s economy? Have them put away the sniper rifle, and bring out the double-barreled shotgun!
Put on your hunting vest, payroll season is open!
You have the payroll experience to get the job done, now it is time to market your payroll service to the companies who need your help the most. Right now, everyone needs to save money. Even a conversation with the prospective client about what other areas they might find some savings can ingratiate you to them.
Call your clients! Find out how they are saving money - take notes.
HINT: this is your new marketing plan
If you jump on this bandwagon full of new clients, you are now (if you weren't before) working in a consultative role, helping people to save their businesses, and that... is something you can feel great about!
Your current client base is the foundation of this year’s growth. Their cost saving moves and strategies, shared across your client base will help you keep those clients, and with your prospective clients – this will be corner stone of your new relationship. The question is, once that corner stone is set – how high are you going to build?
If you would like to talk more about how to get this rolling (without a sales pitch from me – unless you beg for one) give me a call, I'm here to help - 219-567-0245