November 19th, 2023

Author

Damon James
November 19, 2023

In today’s email, I want to walk through my step-by-step gameplan to grow revenue by $100K/mo+ for a Fractional CMO client of mine over the next 90 days. 

I’m excited for this because I’ve never truly had the ability to do this for my copywriting clients. 

In my opinion… 

The #1 problem with a lot of copywriters is that the vast majority do not have the versatility of skillsets needed to come into a business and grow revenue by a substantial amount. 

Excluding rare situations where there’s major low hanging fruit (for example a well established business with a killer VSL and a dialed in sales team isn’t emailing their list).

I personally don’t believe that you need to be worldclass at any one specific skill to help a business make a massive revenue leap…however I believe you need to be able to work with and execute on multiple different aspects of a company’s client acquisition process.

That’s because client acquisition has many different elements to it (copy is just one of the pieces of it) and you need to be able to pull multiple departments and people together in order to make this work.  

Here is the high level overview of what I aim to do - I’ll dive into each one individually:

  1. Diagnose (and fix) problems in the sales process 

  2. Bring on a new Closer (that can perform at KPI)

  3. Revamp the setter process so that this new Closer is setup for success

  4. Write a better VSL that targets a more sophisticated audience and scale paid ads

  5. Overhaul IG Organic Strategy

I don’t think any of these things are INSANELY difficult to do.

However, it requires getting a lot of different people on the same page.

This is going to be a long email so let’s dive in:

#1 Fix Sales Process Issues

Last month we booked just over 200 calls for our sales team.

97 came from FB ads.

57 came from email.

The rest came from IG organic.  

We did 287K in revenue.

78K was front end revenue.

The remaining 109K was a mix of recurring revenue and also deals from our ascension offer.

I believe the breakdown was approximately 50/50.

(side note: one of the biggest issues I’m currently facing is that our data isn’t clean. Tracking isn’t setup properly. I don’t have the greatest pulse on what is producing what. This makes things very difficult at scale. Highly recommend signing up for Hyros and paying whatever you’ve gotta pay in order to keep things clean. Attribution is a lot like Accounting in my opinion. It’s not necessarily that important when you’re small. But the bigger you get, the more complicated things get, and the more money that will be lost if you fuck it up.)

I started taking sales calls recently to break down the process and I identified 3 major sales process issues:

  1. Setter process is basically non-existent

  2. We’re heavily reliant on one Closer who is extremely talented (while the other two are barely producing anything)

  3. Our payment plans allow people in at a very low cost ($500/upfront) and the incentive to PIF is very low

My overall diagnosis with the sales team is that our biggest issue right now is needing another good Closer. Which brings me to point #2.

#2 Training/Ramping A New Closer

We have the call volume (100 calls/mo) to add an additional $50K MRR by simply replacing the two poor performers and reallocating their calls schedule to one Closer that can generate approximately ⅔ of the revenue of our top Closer.

I wouldn’t expect a brand new Closer to come in and produce at the same level as our top Closer, but I think producing 2/3 of the revenue is feasible. If we can execute on this, it would add $52K in revenue to our topline (already halfway to my goal).

I believe our downside risk is low (because the other two only generated 12.5K last month).

Worst case scenario, we lose 12.5K/mo in revenue.

Whereas our upside potential is extremely high - if we can route 100 booked calls to someone who can take care of business, then I am extremely confident that will have a substantial increase to our front end revenue. 

As far as sourcing…

We recently joined Cole Gordon’s top mastermind - 8 Figure Boardroom and we will be sourcing our new Closer from his team. 

By the way, I’m a consultant inside of 8 Figure Boardroom and do 1 on 1 coaching calls for clients inside there. 

I’ve worked with a lot of these “masterminds” and most of them suck. Cole’s team is hands-down the best in the game in my opinion.

Their AM’s are all extremely talented. Most importantly it’s a heavily vetted group (only companies that have already crossed $100K/mo in revenue are allowed in).

Sales Team Accelerator is a great option for companies below this range. If you want the details on 8 Figure Boardroom/Sales Team Accelerator and having access to unlimited calls with me, drop me an email and I’ll connect you with their team. 

#3 Setter Process

I believe revamping the setter process will make us much more efficient with adspend. 

I’m biased since I spent a long time as a Setter, but I believe the Setter role is the single most important (and highest risk) part of client acquisition.

The first touchpoint over the phone with a prospect is PIVOTAL.

We’re onboarding setters this Friday who will be calling leads within 5 minutes, confirming calls day of, and stopping deals from falling through the cracks. 

It will add $5K/mo in overhead costs, but one deal will ROI that. 

Our no-show rate is currently at 50% so I want setters calling and confirming all calls and pulling the bad ones.

I don’t want to put hard numbers to it but I’m confident we can squeeze another $50K/mo out of this by keeping our Closers calendars clean with only high quality leads who actually show up. 

If Setters take show rates from 50% to 75%, that’s 50% more calls for our top Closer (if, he closes 50% more deals that adds $30K/mo rev).

I also believe Setters will improve closing rate because prospects will be more bought in by the time they get on the call.

(so if we execute on #2 and #3 we’re already adding an additional $100K/mo).

(side note #2: some people may call bullshit on getting a 75% show rate. I personally refuse to accept this whole concept that 50% show rates are “good enough.” When I was a Setter, my show rate was above 90%. That’s because this is largely a function of phone skills. Drill your setters on their discovery call process daily and your no-show problems will disappear in less than a month. Nobody wants to do this, but this is the real solution to a very painful problem faced by most businesses).

Ok now we’ve broken down a clear path to adding an additional $100K/mo in revenue. Will this work? I’m confident it will.

HOWEVER…things can always go wrong.

Instead of asking yourself, how can we add $100K/mo in revenue…

A question I prefer to ask is, “How can we make it IMPOSSIBLE for us NOT to add $100K/mo in revenue.”

In order to do that, I want to be absolutely 100% sure that we have adequate call volume/lead quality to pull this off.

#4 VSL Improvements + Scaling Ads

We’ve been running the same VSL all year long and have road that sucker basically all the way to just shy of $300K/mo.

It’s good…but it could be better.

I think that it targets a relatively broke bizopp audience and I’d like to tackle a few new verticals.

Low upfront cash collection is a major problem for us. If we can cash collect a higher amount, we can reinvest more into ads, and get more calls on the calendar.

Hiring a 3rd full-time Closer isn’t really a priority at the moment. However, I’ll be taking overflow calls when needed.

#5 Overhaul IG Strategy

We do solid numbers out of IG organic despite having a relatively small following.

I just hired someone last week to completely revamp our reels strategy and to help blow up our page.

I’ve been pounding out IG scripts daily, I have our copywriter pounding out scripts too, we’re also doing a bunch of stuff with AI…

Between this, we’re going to post minimum 2-3 times per day.

This should drastically increase our following and also lead volume.

That’s all I’ve got for you today!

I’m confident if we can execute on these 5 priorities, that we’ll blow this out of the water over the next 90 days.

Have any thoughts/suggestions/recommendations?

Enjoy your Sunday!

- Damon

P.S. I’m planning to relaunch my YouTube channel very soon so I’m super excited for that.

Have a specific topic you’d like for me to cover? Or have a topic you’d like to talk about and have me interview you on? Lemme know

P.P.S. Do you have a slight distrust in the government? Do you think it’s possible that they make questionable decisions that aren’t in your best interests? Then you’d probably be a big fan of my clothing brand, Sovereign. Sovereign works to create Sovereign individuals worldwide who run online businesses, have multiple passports, and aren’t dependent on any one government.

P.P.S. My virtual reality email newsletter, The Future of VR, just crossed 6,000 subscribers. Want to see why Apple, Meta, and TikTok are investing tens of billions of dollar into VR and how it’s going to shape our future? Click here to subscribe for free now.