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Hey friends and fans, Billion Dollar Sales Coach Ryan Dorn
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here and welcome to another edition of the program. Let's
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get started. Here comes your quick sales tip of the week. Friends,
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one of the things that I teach and talk and
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coach about is understanding your sales math. So this is
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not the first time that we've talked about it, friends,
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but it's important for us all to recognize every one
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of us has sales math that we need to control. Now,
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some of the sales math our customers are gonna control, right?
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Because they may not reply as fast as they want,
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they may not get involved in one of the sequences
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we're sending or whatever that circumstance is. So there really
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are two pieces of sales math that you need to
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kind of wrap your head around, if you will. The
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first is, what is your prospecting booking meetings rate? So
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let's just say as an example, if you were to
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do 10 phone calls and send 10 emails, just as
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an example to one customer, keep in mind now, not
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10 and 10 total to various customers. Let's just say
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over the course of a prospecting cycle, you've done 10
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emails and you've left 10 voicemails. If you do that,
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how often do you actually book a meeting from that?
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So if you realize, Hey, I can send five emails.
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do five voicemails and two texts, and that gets me
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a meeting, then that's a process, a piece of math
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that you can potentially rinse and repeat. Now we do
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need to recognize that there's some scale in the numbers
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because a lot of you, as you're working through these
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scenarios with me, you'll say, ah, probably if I reach
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out to 10 people and do that pattern, I'll book
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a couple of meetings. Well, we don't want to live
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in the land of probably like we're probably going to
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be a success. Instead, we want to understand booking meetings.
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There's a little bit of science. It's a little bit
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of trust, a little bit of relationship building, but we
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do want to use our booking meeting rates to our advantage.
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So we can figure out how many emails, how many texts,
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how many phone calls, et cetera. Do I need to
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make or put on each customer? in an effort to
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get a response. So you'll need to do this across
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a larger number so that you can recognize, Hey, I'm
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going to use this piece of prospecting sales math to
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my advantage. Okay. The second piece of sales math is
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your closing rate. So we first figured out how much
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do we need to do to get a meeting? Now
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we need to figure out how many meetings do you
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need to host in total? to get a closed deal.
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Here's the problem. A lot of us are like, well,
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I need to close 10 deals, so I better prospect
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10 people. Well, that only works if your closing rate, understandably,
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is 100%. And Jesus of Nazareth didn't have a closing
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rate of 100%. And he was really good at his job.
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So just ask yourself, how many meetings does it take? Now,
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I observe that typically I see about a 30% close
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rate with most of the customers I'm working with. So
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three qualified good meetings, okay, out of 10 typically close
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in a sale. Now, you might be saying, well, I
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need 50%. Well, I mean, that's fine, but just recognize,
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is that actually a close rate that actually makes sense
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for you? Is that just a pipe dream that you're
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trying to make happen? So how many outreaches do you
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need to book a meeting? Then use that math to
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get to the meetings, the number of meetings you need. Now,
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how many meetings do I need What's my closing rate
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so that I can be on enough meetings to close
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enough deals to potentially get to goal? Now, I just
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want to share with everybody. Friends, I am not a
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big fan of math. I mean, I love my commission checks.
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Don't get me wrong. But to me, math and processes
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and all that kind of stuff, that's just like really,
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really boring. But I recognize that at every moment in
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my sales career where I've had some great sales success,
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I've had a process. It's been based upon relationships, but
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also math. And I need to work enough customers to
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book enough meetings, to get enough meetings and know my
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closing rate so that I will be over goal every
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single month. Sales math, it really is the spice of
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life in the sales business. And friends, I just want
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you to know that I'm having to do this exact
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same thing now too. Recognizing that amidst political and economic uncertainty,
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I'm having to prospect more, and book more meetings in
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order to get to goal or to get over goal
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each and every month. All right, now it's time for
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your prospecting tip of the week. Friends, time really does matter.
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In a previous video, I talked about you should be
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using delayed delivery and send later 20, 30, 40 times
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a day. Make sure your emails are going at a
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time that's great for your customers. Now, time of day
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really does matter, so let's talk about normal psychology, and
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a normal day of doing business, all right? So typically
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when someone gets to work, say eight o'clock, nine o'clock,
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the first thing they're doing is they are in delete mode.
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They're going through their inbox and trying to tidy that
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up if they already haven't done it with their morning
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coffee or laying in bed with their cell phone first
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thing in the morning or sitting on the train or
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whatever the circumstance is. I don't wanna be the first
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email in somebody's inbox. And the reason is because of
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where their head is at. Typically, people first thing in
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the morning are in delete mode, so I typically don't
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use that time of day for prospecting. Now, in most cases,
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10 o'clock is very, very common meeting time for folks,
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so I don't use 10 o'clock to my advantage. The
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first time that I see most business owners kind of
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get their sort of ducks in a row for the
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beginning of the day is around 11 to 11.30. Now,
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I do wanna hit somebody before lunch because typically people
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don't book meetings Before lunch, because they don't want to
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interrupt lunch, right? So 11.15, 11.30 usually work for me
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in corporate America. All right, lunch occurs. Don't try to be,
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don't follow the stupid advice people give online. Be the
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first person in their inbox. Be the first person in
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the inbox advantage there when you've got the sandwich in
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hand and they're eating lunch. Like, what? It makes no sense.
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So the next time after lunch someone's going to have
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a meeting is typically going to be 1 or 2 o'clock.
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Most people don't book a lot of meetings at 3
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or 4 because they don't want to interrupt going home.
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So what I typically do is when I hit at
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non-meeting times, so that 3.15, 3.30, 4 o'clock, that afternoon
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segment is always really important to me. But bigger than
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better than that, watch your CRM. Watch when people reply
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to your emails. If you're in an industry, you might
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find there's an industry trend, that trend that you can follow,
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or you might need to personalize your outreach. I have
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a person I work with, his name is Mike, and
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Mike is always somebody that answers emails in the afternoons.
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So what I want to do is use delayed delivery
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or send later to make sure those emails hit at
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a perfect time for Mike. Friends, sales is all about strategy.
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I mean, sure, you need talent, you need some good
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charisma and hoots, but I get it. But friends, if
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you're not understanding sales strategy, you're kind of flying by
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the seat of your pants. And let me share something
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with you. Randomness, flying that way, friends, you're going to
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get tired and you're not going to be able to
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maximize your effectiveness. All right, now it's time for your
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sales tech tip of the week. As you know, I'm
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a really big fan of clients of mine using a
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customer relationship management tool, a good old CRM. Now you
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might be saying to me, Ryan, no salespeople like to
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use a CRM. And I'm just here to tell you
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that that is absolutely not true. My superstar sellers that
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I work with almost always know their CRM inside and out.
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They're like admin level experts. So one of the things
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that I'd like to share with you is understand how
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to work lists inside of your CRM. I have three
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primary lists that I work. I have a prospecting list,
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I have an in-progress list, then I have an active
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and retention list. Each day, I'm going to review that list.
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So I'm going to be using my prospecting list, mornings
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and afternoons, 11 and 4, I'm going to use my
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in-progress list. That's people I've already met with, but I
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haven't yet closed, right? I'm going to follow up with them,
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you know, maybe three-ish in the afternoon or maybe around
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11 o'clock in the morning. And then that third list
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is my money list, chain chain list. And that's my
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list of active customers that I need to retain. So
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every CRM out there, you can create lists. If you
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can't create lists in your CRM, you need a completely
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different CRM. So just ask yourself, friends, what can I
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do to work lists inside my CRM? And that will
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keep me very focused. I'm one of those people that's like, squirrel, where? Okay,
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I need focus. I need to work my lists. And
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if you work lists, and if you're managed from lists,
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all you managers out there, supervisors, in your one-on-one meetings,
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use the CRM to guide that meeting. Stay airtight, friends.
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Even though I don't really like a process, I realize
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every time in my life when I've made the most
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money in sales, it's because I've had strategy and process.
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I'm using it to my advantage. So use lists inside
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your CRM to maintain focus and expand your marketing
outreach.
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Now it's time for your retention. tip of the week. Friends,
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for the last three, four, five years, I've been using
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a company called sugarwish.com. Now they are not paying to
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be a part of this video. I just really like
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the service a lot. So what you have the ability
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to do is log in to sugarwish.com, set up the
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cards that you want sent to people, choose the candy
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or cookies or coffee or wine that you want your
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client to choose, set a budget per client, and then
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an invite is sent to them. Then they can choose
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what it is that they want, dog treats or donate
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to charity or whatever, put in their mailing address, and
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then Sugar Wish will put together a nice little box
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for them that has cookies or treats, whatever it is
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they chose, and will automatically send to them with your
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customized note in that box. Now, this does lead me,
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especially this time of year, budget for retention, friends. I
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have no idea why companies are like, well, we'll reimburse things.
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Have a strategy for retention. And friends, I really think
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that you'll love the services offered by sugarwish.com. If you
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use the service, make sure you tell them that Ryan
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Dorn sent you I don't know that that'll mean anything,
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but at least it'll help me if I try to
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get them as a sponsor here of the program. So sugarwish.com, friends,
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I really enjoy them and use them on a very
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regular basis. All right, friends, now it's time for our
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listener question of the week. Keep those questions coming to
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ryan at ryandorn.com. If we don't answer your question here
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on the show or on the podcast, you're going to
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get an email back from me. If you send in
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a question, and you've not heard back from the team,
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resend it again. We take great pride in answering all
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of your questions. All right, this question comes from Renee
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in New Mexico. And she asked this question, Ryan, what is,
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or the course of your career, your favorite subject line
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and why is it your favorite subject line? So Renee,
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my favorite subject line is a date. Now not a D-A-T-E,
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a date. Like if I want to meet with somebody
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on December the 3rd, the subject line would be December
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3 question mark. The reason I think that it works
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is because it's a little startling to people like December
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the 2nd. Did I miss something? Do I have something
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coming up? And what I notice is I get a
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tremendous open rate. Now that does lead me to something else.
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I track all of my opens. I use a tool
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called Mail Suite and it tracks all of the opens
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and how many times people open that email. So I
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love to potentially see that as well. So I get
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a lot of opens and I get a tremendous amount
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of replies to that. But I think the replies are
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based upon the number of opens that I get, right?
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So I love that date, a date as a subject line.
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And then just as a little bonus for you, Renee
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and everybody else, I very often will put the name
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of a competitor of the client that I'm talking to
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or want to talk to in the subject line. And
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the reason, especially if I have that competitor as a customer,
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it's startling a little bit. When you see the name
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of your competitor pop up in a subject line, you're like,
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what is that? And it really forces you to open
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that email. Now, keep in mind, the reason I can
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get away with that is I'm big on recommendation-based selling.
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So I'll say, hey, John Deere, we're working with Kubota
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tractors and we'd love to work with you as well.
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So the subject line would be Kubota, as an example,
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a John Deere person, that's the orange tractor. A John
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Deere person, the green tractor sees that and goes, Hey,
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what is that? And so I get a really good
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open rate when I put the name of a competitor
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in the subject line. Now that second one takes a
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little more guts, right? The first one is a little
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bit easier for most people to absorb, but I can
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tell you Renee and everybody, a date has been the
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greatest subject line I've ever used. I've ever learned in
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my entire sales career. Now remember Renee and everybody, you
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can't use the same subject line over and over again
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on customers, right? You need to track it in your
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CRM and be a little bit careful about that. So Renee,
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thanks for your question. Thanks for your love and support.
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Keep listening and watching. If you've got a question you
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want answered, send it in. Ryan at ryandorn.com, D-O-H-R-N. All right, now,
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one of my favorite segments, all about brain works and
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what we can do to help our brains. Friends, helping
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your brain is about staying on task and staying on track.
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So whether you use G Suite, the Google suite of services,
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or you use Microsoft Outlook or the Office 360 suite
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of services, recognize that both of those tools have an
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app for tasks. So it is just called Tasks. The
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Google app is called Tasks. And then the Microsoft app
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is called Microsoft To Do. Both of them will sync
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up with your desktop, on your phone. It allows you
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to track birthdays, anniversaries, clients that are a pain, clients
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that need to be touched more often, folks that you
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need to reach out to, all of those kinds of
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things that might tend to slip your mind. I have
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a customer that I refer to as high touch. He's
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kind of a big whiny baby. But I do love
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him to death. I got to reach out to him often,
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but I kind of forget. And so he'll very often
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reach out to me, you know, Ryan, not feeling the
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love out there. And that's because I haven't done a
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great job of reaching out on a regular enough basis.
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So I put that joker in my task app to
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remind me. Now, a lot of you, you like to
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use a written to-do list. I'm not against written to-do lists.
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But that device, your phone, it goes with you to
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the bathroom, to the bus, to the beach, to the bar,
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to the bedroom, wherever it is, it goes with you.
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And that written to-do list is not going to go
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with you. So I do, if I'm being honest, I
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use both. I've got my app and then I've got
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my sort of today, here's my list of things right
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here in front of me. But I love the fact
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that that task app will pop up right next to
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my email. So it's always friends right there forward in
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front of my face. Because in order to keep my
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brain sharp, I've got to stay on task. And staying
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on task, why not use the technology that's out there? Now,
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there's all kinds of productivity apps. I just like these
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two because they sync up with my email, my calendar,
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and I can kind of keep it all really in
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one place. Friends, I hope that this show and these
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programs are helpful to you. What I'd love for you
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to do is go down in the comments. Of course, like,
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give me a thumbs up, and subscribe, but go down
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in the comments and let me know. You might disagree.
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I love that. That's okay. Disagree in the comments. Let's
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talk about it. Let's become friends. Let's build a community
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of sellers that are looking to be better each and
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every day. Friends, never forget, if sales was easy, everybody
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would be doing it, and they're not. We're not crazy.
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I mean, we're a little crazy, right? But this is
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a great career, friends. It'll feed your family for a lifetime. Hey,
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head over to ryandorn.com. Find the podcast. Find all this
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helpful information we put online each week for you. And
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I'd love to come to your national sales meeting and
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get your team all pumped up. I speak about 40
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times a year and I love it. So please, friends,
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invite me to your meeting and let me be the
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person that motivates your team to success. All right, stick
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around and stay close. We've got another show that's coming
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up here next if you stick around. And it's all
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about what we can do to reevaluate our elevator pitch.
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That's coming up next. We'll see you next week.