Bill Rice Internet Marketing > Uncategorized

Sometimes You Get to Do Something Really Important…

February 23, 2010 by
Dolls for Rapha House

Image by wmrice via Flickr

Most of us spend every day doing things that we think are really important.

We go to meetings, we try to hit our sales numbers, we analyze our reports, we try to make it home in time to have dinner with the family. However, occasionally you get to actually do something that is really important.

My wife is doing that right now and I’m really proud of her!

She left yesterday headed to Cambodia on a mission trip. She will be spending ten days supporting the Rapha House, an organization that helps to rescue and heal children out of slavery and sexual exploitation.

This is a knee-weakening and stomach-knotting cause when you realize the staggering numbers associated with these egregious crimes against children: The UN conservative estimates that there are nearly 2.5 million trafficked victims at any given time and according to a recent International Labour Organization human trafficking for sexual and economic exploitation is the most lucrative and fastest growing transnational crime (ahead of drug trafficking) estimated at $32 billion annually.

I’m proud of my wife for getting involved in something really important! If you’d like to follow her work or leave her a note of encouragement—stop by http://HeatherOnMission.com.

Thanks for letting me share a little of my non-sales passion.

Filed Under: Uncategorized Tagged With: cambodia, causes, children, human trafficking, mission, rapha house


The Secret to Improving Contact Rates

June 9, 2009 by

The phrase, cold calling, tends to strike fear into the hearts of most business owners, particularly if you are not already trained in this form of marketing. It is an undeniably successful way of promoting a product or service, but it has many pitfalls. Namely, marketers struggle with contact rates, as well as the overall premise of cold calling.

If you are interested in expanding your business through this type of marketing, there are a few things that you need to know ahead of time. If you feel at all uncomfortable or unsure about your campaign, it will show. In many cases, it is best to hire a professional telemarketing center to assist you, particularly if you don’t have the time, resources or simply the drive to get the job done on your own.
Let’s start with some common mistakes and how to overcome them.

Cold Calling Jitters

Even those who have been in marketing for years can shrivel up at the prospect of having to call thousands of leads. It’s easy to get tripped up by this fear, and this in turn leads to failure. Cold calling is powerful, but it should not be abused, or ignored. Here’s how to strike the balance.

1.    Offer something of incredible value that you honestly believe in. The secret to cold calling success is having a product or a service that you can really get behind. The enthusiasm will show in your voice, and that in turn will help that consumer warm to your pitch.

2.    Practice, Practice, Practice. You need to practice your pitch until it is completely memorized and flawless. Try it out on family and friends first, and see how they react. Take the time to change what isn’t working. The benefit to this extra work is that it won’t sound like you’re “reading” your pitch on the phone, and you’ll have that ingrained confidence that will help you sell your product.

Increase Contact Rates

Next, let’s focus on how to get people to listen to that great pitch that you just spent hours perfecting. Keep in mind that you’re not always going to be able to meet your goals, and there are certain times of the day when you may fall flat on your face. The key is testing and figuring out what time period and what days work best for the product you are selling.

Always follow the FCC rules for telemarketing and never attempt to break them, the consequences are harsh. You’ll improve your contact rates if you stay within the provided time schedule and avoid calling those who are on a do not call list.

One of the realities of telemarketing is that you will get people who will hang up on you. Don’t take it personally. For every ten that do, you’ll have one person that is ready to hear what you have to offer. You’re working for that person – for that sale. The key is perseverance, dedication and above all, believing that you can do it.

Filed Under: Uncategorized Tagged With: cold calling, contact rates, telemarketing


The Basics of Setting Up PPC Marketing

June 5, 2009 by

When it comes to ROI and overall ease, PPC marketing is the choice of many businesses, both offline and online. However, there are a few pitfalls that can make this type of marketing a headache. By following some basic rules, you’ll be able to ensure that your next online marketing campaign is a success, no matter what industry you’re in.

Getting Started with PPC

First, let’s discuss what pay-per-click marketing is and what you can expect. Unlike other forms of advertising, where you generally pay a set price to be viewed by a set amount of people, your ad will be visible throughout the duration of your campaign, until you reach the set amount of clicks you have agreed upon.

It is a good idea to start by setting a budget of what you plan to spend on your ppc campaign. Most services, such as AdWords allow you to set not only a total ad budget, but also what you would prefer to spend for each day. Your ad will then show until you hit that marker. Be forewarned, if you do not set a budget, you may end up spending a good deal more than you planned to with your campaign.

PPC marketing requires testing before you commit to spending a large budget. Ideally, you should have at least three versions of your ad for testing purposes. Set a small budget and run the ads for a few days. See which one performs the best and then use that for your campaign. You will need to monitor its effectiveness however, and you may need to change the ad in mid-campaign if it’s not performing well.

Secrets to Your Campaign Success

Having more than one ad is not the only secret to your success. You will also need to have at least one landing page set up that gives your visitors an instant look at what you have to offer. You may want to have two of these pages, and just like before, test them to see which one is the most effective.

By far, one of the best tools that you can use for testing purposes is Google’s analytics feature. This will integrate with your AdWords account and allow you to get precise testing data on not only the ad, but also the landing page. You may also want to consider using a service like CrazyEgg.com that offers mapping of your page to see where people are clicking.

What Should You Offer?

While you can promote nearly anything with a pay-per-click marketing campaign, most businesses find that it is ideal for either giving away small products, or promoting inexpensive products that have an upsell. You will need to factor this in when you are creating your campaign.

This will also have an effect on your budget, and the range of cost per acquisition that you are comfortable with. Although PPC is cheaper in the long run, and more effective, there are no guarantees. Approach pay-per-click marketing like you would any new marketing campaign. Be careful, test the waters and never get in over your head.

Filed Under: Uncategorized Tagged With: AdWords, marketing, online marketing, PPC Marketing


Measuring Campaigns Effectiveness in Online Marketing

June 4, 2009 by

There are many different types of online marketing that you can utilize to promote your business or service, but that does not mean that all will be equally successful. If you are just getting started in online marketing, or you are looking for ways to maximize your marketing ROI, here are some basic tips to get you started.

1.    Start Small. Never overspend on a marketing campaign, whether it’s your first, or your hundredth. No matter what type of marketing you are using, it is vital to test its effectiveness first. Unlike traditional advertising, the online marketing world allows you this luxury and it is very important to make use of it.

2.    Measuring Campaigns. In order to get a true idea of just how effective a test is, or an entire campaign, you will need to have plenty of data to analyze and a way to interpret that data. Google Analytics is the premier choice of many online businesses, particularly those who use AdWords for their promotion. This analytics tool allows you to track a variety of different data, from the text of your ads, positioning on landing pages, and even the overall effectiveness of a page.

There are also many other forms of marketing metrics that can help you succeed. From heat maps that will tell you where people are clicking (and where they aren’t) on your site, to side by side comparison of landing page effectiveness, this data is your view into your target audience – don’t waste it.

3.    Be Realistic. Many people are under the impression that online marketing is the way of salvation for a small business and can make everyone a millionaire. The truth is, while thousands of people have made their fortunes online, it is more than just a matter of luck, and most experienced plenty of failures along the way.

Set goals for your marketing ROI and what you would like to see in a perfect world, and then scale that back to a more realistic number. It’s better to count on a smaller ROI and be pleasantly surprised than to devote too much time and money to a failing campaign.  Measuring campaigns is a big part of being realistic and successful in online marketing.

4.    Stay on Your Toes. Online marketing can change from day to day and the ad that worked wonders yesterday may be met with indifference today. You cannot stay stagnant and hope to win the internet marketing game. That is the main reason that analytics are so vital to your survival.

You need to have plans in place, and alternate versions of ads, landing pages, and even color schemes before you begin. This reduces down time and helps you laterally shift a marketing campaign without missing a beat.

By combining the right amount of marketing metrics, the willingness to change and the right product or service, you can be a success and your marketing ROI will skyrocket. While it is entirely possible to have a hit without knowing what you’re doing, it is far better to take the time to plan ahead and cover all of the bases ahead of time.

Filed Under: Uncategorized Tagged With: marketing campaign, Marketing ROI, online marketing


A Morgan Stanley Eye View of The Market, Or…What, Me Worry?

August 7, 2008 by

I noticed two articles in the last 24 hours that when read separately are noteworthy, but when read together, become somewhat duplicitous. Early yesterday morning, Bloomberg had an article indicating that Morgan Stanley has decided to freeze thousands of home equity accounts within their portfolio. This is not wholly surprising, nor is it unprecedented. Other large banks have done this previously during the last year, and many homeowners have no access to their equity because of rapidly declining property values across the country. So read alone, this story, doesn’t seem to be troublesome.

However, when read together with this Mortgageloan.com coverage of Paulson’s use of Morgan Stanley for Fannie, Freddie advice, gives cause for concern. While the original article indicates that conflicts of interest could occur, there is no getting around it in order to obtain professional assistance, according to the Treasury spokesman.

Really? There are no consultants who understand the financial market? There are no retired analysts, willing to roll up their sleeves to work on this project? No banking oversight committee like the OFHEO, OTS, or FDIC? We are to understand that the most qualified group to assist the GSE’s is another company that is rumored to be failing on a number of levels. Given the condition of the markets, the reputation of Wall Street firms and investor confidence, don’t you think the Treasury could have made a somewhat better choice with a bit less skin in the game, as they say?

Doubtful that I will get the contract changed or wrestled away from Morgan Stanley, so I think what we now need to do is understand Morgan Stanley’s position in the market. They have gone from simply another struggling firm to now leading the market in the way it will react to the unraveling of the CDO market. Why? Are we to believe that as Morgan Stanley sifts through the capitalization of the GSE’s and becomes the CSI investigators, they will not use this information to ensure their own solvency?

I believe that we can safely say that as Morgan Stanley acts, so will the remaning market. Home equity freezing is the bleeding edge of what they see on the horizon. So rather than complain about conflict of interest, poor choice by the Treasury department, whiffs of collusion and insider information, let’s just ask Morgan Stanley— “so…what’s next?”

Filed Under: Uncategorized Tagged With: CDO, Fannie, Freddie, gse, home equity


The Mortgage Market is Soiled. You Better Have a Trust Strategy.

July 21, 2008 by

If you are a mortgage broker and you haven’t already figured this one out I will state it bluntly–no one trusts us! Sure there is an enormous amount of finger pointing going on. From Wall Street to Main Street everyone has an opinion on who got us here. Guess what? The customer thinks it was you.

Snapshot of the Florida Mortgage Market

For the purpose of clarity, I am going to focus in on one market–Florida. However, don’t absolve yourself because you are not a mortgage broker in Florida.

The Miami Herald launched an investigative series entitled “Borrowers Betrayed,” written by Jack Dolan, Rob Barry, and Matthew Haggman. These reporters dig in to the nasty underbelly of Florida mortgage originations during the housing and mortgage refinancing boom.

The Miami Herald investigation clearly comes in with an angle on consumer hot buttons: Loan officers with criminal records, identity theft, no background checks, and trails of victims.

The Miami Herald facts are terrifying to your prospective customers:

  • From 2000 to 2007, regulators allowed at least 10,529 people with criminal records to work in the mortgage profession. Of those, 4,065 cleared background checks after committing crimes that state law specifically requires regulators to screen, including fraud, bank robbery, racketeering and extortion.
  • More than half the people who wrote mortgages in Florida during that period were not subject to any criminal background check. Despite repeated pleas from industry leaders to screen them, Florida regulators have refused.
  • Confronted with a growing epidemic of mortgage fraud — Florida now has the highest rate in the nation — the number of license revocations declined over the last five years, leaving borrowers at the mercy of predatory brokers.
  • During the peak of the housing boom, the Office of Financial Regulation ignored a state law enacted in 2006 that compelled it to perform nationwide criminal background checks on applicants. That failure allowed people convicted in other states — and in federal court — to peddle loans in Florida without any scrutiny.
  • Regulators allowed at least 20 brokers to keep their licenses even after committing the one crime that seemed sure to get them banned from the industry: mortgage fraud.


This is how the customer will increasingly come to know you.

Create a Trust Strategy

You could launch into a flawless debate on who else is responsible. However, I suggest a more productive effort–build a strategy. Create a Trust Strategy.

Put your customer at the center of your business. Steps into your client’s experience and emotions: distrust, fear, ignorance, vulnerable, uncertain. Then design a process that systematically wipes out each of those fears.

Building Your Personal Brand

One thing is for certain, criminals don’t go around building a personal and long-term brand. No, they maintain low profiles and bounce from one victim honeypot to the next.

Spend time on building your personal brand. This is easily done both on and off-line. Certainly have your own web page and blog, but also make sure that local businesses and civic groups know you too. Get involved in community activities. This branding building and community involvement will build a lot of good, verifiable context to your name.

Don’t be complacent about personal brand building. Even if you are backed by a big coorporate brand, people buy from people. Give your client complete confidence in your integrity, as well as your company’s.

Establish Authority

It is one thing to be a nice person, but are you competent. This is going to be the next big question in a mortgage customer’s mind. After all there were probably as many good as there were bad people that got folks into bad loans from simple incompetence.

Remember the earlier list of client fears? Education and knowledge sharing is a valuable way to build trust and remove feelings of ignorance and uncertainty for the mortgage transaction. Create a blog, newsletter, or even weekly column in the local newspaper to educate your borrower before and during their mortgage experience.

Get Endorsed

Renowned expert on influence and persuasion, Robert Cialdini highlights the powerful effect of social proofing in his books and presentations. The principle is simple: “The greater number of people who find any idea correct, the more the idea will be correct.” It is a simple due diligence short cut. If my friends and neighbors trust this person then so will I.

Make sure this principle is in your Trust Strategy. Get testimonials. Nurture public endorsements. Earn the respect of local personalities and influencers. Build referral marketing into your customer loyalty program.

“Climbing the Distrust Mountain”

This advice should have been first because of its power. However, I didn’t want you to miss it. Morgan Brown, of BlownMortgage.com described a process of “Climbing the Distrust Mountain” with mortgage customers. I have linked to it many times, but I will give you the simple technique here.

Trust, in any relationship, is built or destroyed with a series of simple promises. You either fulfill them or you don’t. Promises like:

  • I will call you right back
  • I will check on the status of your appraisal
  • I will give you tips on how to improve your credit
  • I will keep you updated throughout the process
  • If you have any questions call me (and I will answer)

If you want a mortgage customer to trust you after this mortgage mess you have to make a lot of little promises and keep everyone.

What other things should be in your Trust Strategy?

Filed Under: Uncategorized Tagged With: FL, Florida, Florida Mortgage, Miami, Miami Herald, mortgage, mortgage borrowers, mortgage fraud, mortgage market


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