Phil Risher (speaker) explains how hiring a digital marketing agency or consultant can increase a company’s sale value by building repeatable digital processes for customer acquisition, fulfillment, and retention. He emphasizes online reputation (Google reviews), documented funnels and ROI/analytics, and retention tactics (newsletters, retargeting) as ways to demonstrate value to prospective buyers. He references The E-Myth 2.0 and gives illustrative metrics (60–70% of customers research online; example newsletter list of 10,000 with a 20% open rate).
Questions this video answers
October 26, 2021
60–70%
10,000 subscribers with a 20% open rate (≈2,000 opens per month)
Chapters
Today we're going to discuss how hiring a digital marketing company or consulting team can help you increase the value of your company when and if you decide to sell. So the book E Myth, The E myth 2.0, if you haven't read it, it's a really great book for building your company up to eventually sell or just to be more efficient in your business. And what they talk about is building systems and processes. That's a big focus for us at Flash is how do we build processes to help companies grow. And so one of the big things that anyone interested in buying a company is going to look at is what is the process for getting new customers, fulfilling those customers, reengaging those customers and turning them into returning customers. And everything is going to digital. So previously people could say, oh, we have a great reputation. We've been around for 70 years. We done this, this, this, and this. Now, 60 to 70% of people, before they even work with your company, are going online, reading reviews, deciding, do they know, like and trust you before they even interact with your company. So hiring a digital marketing company should allow you to take your company value to the next level by building all of these processes. So for the first and most important thing that you could do for your company is, is to get Google reviews. The reason these are important is because before you might say, oh, we have a great reputation in the industry, you know, we get referrals all the time, and that's still really good. But imagine if you were able to say, hey, we have 100 Google reviews, we have a thousand Google reviews. And our online reputation speaks for itself. That goes a long way. What this then allows you to do is to discuss what your digital customer journey looks like. And I've made videos about this before. But when we look at a value of a company and the value that you bring to the table when you're selling, and you can remove yourself from the equation. This is what we do at Flash when we build with companies that we work with is we want to look at the funnel of new customers. We want to say, what is the process for new customers? And if someone is buying your company, they want to know how you're getting new customers. And then when it comes into your business, what is the process from start to finish of a lead turning into an ultimate sale? Right? People want to know this stuff, and they want to know that there's a process for this. What is your roi, your data, your reporting? All of this information is useful information when you go to sell or even when you're just building out what is your company going to look like and what's the value of it. Having all this information and these processes is very important. And then ultimately what is your customer retention plan or your retargeting strategy? Do you have a monthly newsletter? Imagine if you were to say hey, we have 10,000 people on our monthly newsletter. We get 20% of those people open. So 2,000 people every month are getting contacted by us and they're opening and interacting with our content and ultimately turning into returning customers and coming back into this funnel. So when we look at the value of a company in a holistic approach, a digital marketing company or consultant will be able to help take your company to the next level and help you build these processes. Not only is it important for getting new customers currently and and for getting returning customers currently, but when you look at the value of your company, it's going to be strengthened by making this investment into your company. It should now not all digital marketing companies are the same, not all consultants are the same. We take a very hands on approach to what we do and I've made videos before about the layers of digital marketing and what all we do but high level. You want a company that's going to focus on growth and roi. They're going to use the analytics and reporting to put back into the content that they're creating for you and they're going to provide you with growth metrics and ROI metrics tricks. And again, that's going to help you when you do look at the value of your company because it shows that you have a process that's being tracked and monitored and is running without you. So hope this helps. Drop a comment below. If you have questions, let me know. We grow local service businesses. Be sure to like and subscribe. We'll see you on the next video.
