Very Old Material

[Note: Resource materials and marketing devices were included with this printed manual.]

 

A Viable Product ––

The first thing you need to know: You are offering a potential client something every business wants and needs, better cash flow.

 

We all know what it’s like to be on the receiving end of a sales pitch for something we don’t need. (How many times have you been called at home by, for instance, another long distance phone company?)

 

Marketing U.S. Checkbyte is different.

Ask yourself this question: "Would you be interested in a system which delivers money owed to you faster and saves you time and expense?"

 

That is the essence of what you and U.S. Checkbyte can provide.

 

You can deliver that message by mail, phone or personal contact. If you are diligent and develop good relationships with your clients, you will find that your business will likely grow through word of mouth and referrals.

 

What do you do with your first 2,500 leads?

If you are calling, first you need to cull through the list to decide which business would be best to approach. You are the expert in your area. Many of the leads we provide you will recognize. Naturally, you will want to Contact those businesses which have a large volume of monthly receivables.

Example Businesses With Installments
– Private Schools – Computer Rental Centers – Churches – Dance Studios – Bottled Water Companies – Doctors and Dentists – Fitness Centers – Carpet Cleaning Companies – Cable Television Companies – Office Cleaning Companies – Automotive Parts Outlets – Home Maid Companies – Apartment Complexes – Security Companies – Property Management Firms – Pool Service Companies – Country Clubs – Lawn and Garden Services – Garages – Insurance Companies – Paging Companies – Independent Phone Companies – Member Associations – Health Clubs – Newspapers – Yacht Marinas – Magazine Publishers – Child Care Centers – Flying Clubs – Public Broadcasting Stations – Time Share Groups – Answering Services – Alumni Associations – Furniture Rentals – Appliance Rentals – Voice Mail Centers – Medical Equipment Rentals – Karate Schools – Pest Control Services – Tanning Salons – Finance Companies – Utility Companies – Storage Centers.

 

Sending Mail

On the plus side: putting out a mailing is less intimidating than placing phone calls or stopping by a business in person. And, once the materials are produced, you can have a mail house handle the labor so it takes very little time.

 

On the negative: mailings are more expensive and by themselves typically yield lower response rates than marketing calls.

 

Generally, as any good real estate broker will tell you, it’s good to have a lot of balls in the air at once. We recommend you start with the following plan.

 

Call what you think may be the top ten-percent of your prospect list while a mailing is in route to another 10-percent. Of those you call and get a positive response, you can suggest, "Well, Ms. Jones, what I’d like to do is forward on some of my literature and give you a call back is a few days." The prospect now knows who you are and, after looking over a personalized letter and brochure, they’ll know that U.S.Checkbyte is an established company conforming to Federal and state regulations.

 

While the second mail is in route, you can call those businesses to which the first mailing was sent and ask, in essence, "Did you get that package I sent to you last week? What did you think about the idea of getting your monthly payments faster, automatically, while reducing labor and operating costs?"

 

Suggested Marketing Process

If you have been in sales before, you probably already know what works best for you in prospecting. If not, you might try this plan as you begin contacting businesses on the list.

 

10%: call, then mail and call back – set a personal appointment.

20%: mail then call – set a personal appointment.

30%: call, then mail and call back – set a personal appointment.

40%: mail, then call – set a personal appointment.

etc.

 

You could just mail and begin calling the entire list, but the tactic outlined above lets you refine your style, gain confidence and find out what works best for you in your market.

 

(A note regarding product knowledge: in marketing, there is no substitute. Ask questions, call tech support, read the corporate materials. We can provide support and answers, but learning is up to you.)

 

The cumulative effect of mail, phone and personal Contact is: You develop brand recognition. You become the source for expedited payment systems.

 

What is included in a mailing?

You are your own boss and, as long as you properly and ethically represent U.S. Checkbyte, you can customize your own mailings. The contents could be as simple as a one-page printed letter or as elaborate as a multi-piece four-color direct mailer.

 

Generally, as you’ve probably noticed from mailings you’ve received, a cover letter with professionally printed marketing materials is the preferred package. The letter personalizes the presentation, and the other materials establish identity and reiterate the benefits summarized in the letter.

 

Corporate will provide the makings for both; the letter template which introduces you and U.S. Checkbyte; and, on disc, the artwork for a three piece mailing. The standard package includes:

The introductory cover letter;

A tri-fold brochure;

A response card.

 

This is a basic three element mailing. Corporate marketing will continue to develop materials and make those devices immediately available to you.

 

The U.S. Checkbyte tri-folds are set up to double as self-mailers. By putting on an address label and using, for instance, a restickable glue stick to seal the edge, the device can be dropped in the mail on it’s own. The message is there as is your phone number.

 

You are free to develop your own materials, but for liability reasons, you need to get approval from Corporate prior to printing and distributing. In most cases, you can fax a proof to Corporate marketing and an authorized staff person will initial it approved and fax it back.

 

If you have questions or need input on materials you may be producing, feel free to call. Within reason, the marketing department will be glad to assist.

 

Template Materials

You can easily customize the template letters and artwork we provide by inserting your name, address and phone number. These materials are produced with Microsoft Publisher. This is a easy-to-use program which most printers, and even copy stores, will have in use. If you are reasonably handy with word processing programs, you should be able to pick up Publisher in short order. If you choose to outsource your production, a printer or copy shop should be able to customize the template materials within about 15 minutes per item.

 

Be sure to proof the additions closely… then check them again. Mistakes happen, but don’t let it be a wrong digit in your phone number or address.

 

The Print Shop

You should shop around for a good printer. All will have examples of their work and most will provide a free estimate. It is important to select a printer who is not only reasonably priced, but can also meet deadlines and turn out a quality product.

 

Chances are you or somebody you know already works with a printer. If not, think about some of the materials you may have seen at local merchants. Which were eye catching? Which were professional? Call the merchant, ask who does their printing.

 

Corporate can produce these materials for you using our regional printer, but there would be a mark-up, which can vary depending on the job, and you would have to pay for shipping.

 

Generally, if you stay local you will get the job done cheaper and have more control over the process.

 

Printing Costs

Pricing can vary radically. But to give you some idea as to cost, here is an example price quote for a recent 5,000 piece Corporate mailing:

 

5,000 8.5" x 11" 70# Scott Gloss White printed 2 up 3 colors front and back red/blue -- $ 852.01

5,000 Return Card, 3.5" x 5" 67# Vellum Bristol printed 5 up 1 color -- 133.08

5,000 Envelope, 24# Bond #9 White, printed 1 color front -- 281.21

Total------------------------------------------------------------------------------------------------------- $1,266.30

 

If you’re not familiar with printing and printers, this may seem like another language. Basically, this is a quote for a color tri-fold brochure, a response card and a return envelope.

 

Depending on inks, materials, the local market, the printer and sometimes even what time of the year you do the job, prices will vary.

 

 

Return Percentages

What can you expect as a return on mailings? Not much, relative to the number of pieces you send out; maybe a lot relative to the world of direct mail.

 

On the average, in the U.S. market a one-percent return on a mailing is considered acceptable-to-good, depending upon the product being marketed. Two and three percent is considered great.

 

In mail marketing expedited payment systems, you can expect a good level of interest. You’re not asking the recipient to mail a check or provide a credit card number. You are just asking if they might like to learn more about your services; an outsourced system which could make their life easier and their business more profitable.

 

But some business which receive your mail will simply be too small, others won’t focus on the material. For the sake of running a few numbers, lets consider the yield of a good response.

 

The Two-Percent Scenario

If you were to mail out 2,500 pieces and receive a return from 50 businesses, that would be considered an okay-to-good success rate. (Remember, you’re not asking the respondee to commit to or buy anything.) Let’s say of those 50, 25 are not going to sign for whatever reason, they’re too small, they don’t like computers, they like not being paid on time…

 

What about the other 25? Eventually, after several phone calls and a few personal meetings, they sign up. You begin the conversion process. That will take time and that’s why you charge a set-up fee. A few months later, a large portion of customers have been converted and those 25 businesses produce an average of 150 monthly payables each. You’re charging an average of $1.25 per monthly payment.

 

The mailing yield equation: 50 - 25 = 25 x 150 = 3,750 x $1.25 = $4,687.50.

 

Your success rate could be higher and, of course, your success rate could be lower. Cut the number in half. Let’s say, for whatever reason, the mailing eventually produces only $2,343.75 per month.

 

Now back out the cost of the mailing. You could send the mail bulk rate, but people intuitively respond more positively to a first class stamp on a promotional mailing. 2,500 x $ .32 = $800. Then there’s the business reply return postage (we’ll use $ .32 as an example) for the 50 positive responses; $16.00. Add the printing cost of the marketing materials. We’ll use the numbers from our Corporate mailing, a 5,000 piece job, and round-up: $1,300.

 

The mailing expense: $800 + $16.00 + $1,300 = $2,116.00.

 

Projected scenario: $2,116.00 outlay yields a $2,343.75 per month residual income.

 

What Next?

Of course, this is just the beginning. You can acquire other lists from associations and list brokers; friends will suggest businesses; existing clients will offer referrals, you may sign up companies which serve you. (Next time you pay your cable bill or are about to mail a check to your health club, give them a call. Ask, "Do you automate your receivables so I don’t have to send checks? … No? Well, may I have the name of the executive who oversees the account payables department?" )

 

The 2,500 mailing is just a starter. It’s intended as a jump-start to get you up and running and provide a base. You can also purchase, and sometimes even borrow, other lists which include the name of a business’ decision-maker. These list are more expensive, but will generally yield a higher level of success.

 

Look in the yellow pages under mailing services (some have mailing list brokers). Call a few, tell them what you’re marketing. The one who gives you the most guidance may be the one with which you should do business. Careful, though; make sure you are getting a current list. Ask the broker how he warrants list quality. Perhaps he will submit a sample or you could buy a short list and test it out.

 

Getting Mail

If your mailings include a response card or envelope (return device), eventually you may want to get a business reply permit. Anytime you see a bar coded envelope with "No postage necessary if mailed in the United States," that is authorized by the Post Office as a business reply. Business reply accounts are easy to get and the response mail can be directed to a post office box or even your home. (By the way, we recommend you get a P.O. box if you are operating out of your home.)

 

The Post Office will supply you with the bar code which your printer will imprint to the return device. Each time a potential or existing client returns a piece, the Post Office automatically debits your account. Naturally, you could apply a postage stamp to your return device, but the rule of direct mail is that a small minority will respond. Licking stamps is neither practical, nor cost effective.

 

There is another school of thought regarding return postage. Some direct mail gurus recommend not prepaying the return device; rather just to imprint "Affix Stamp Here." The rational: 1) The respondee feels they are participating by applying a stamp; 2) The postage serves as a qualifier, meaning if the person is not interested enough to spring for a postcard stamp, they probably would turn out to be a tire-kicker anyway; 3) If the prospect sees they have to apply a stamp, they are more likely to opt for the phone.

 

There are no hard and fast rules. You may want to send out a test mailing of about a hundred with no postage paid, then a hundred with a postage paid return device.

 

The Mail House Process

If you are going to do a lot of mailing (unless you have ten kids on summer vacation, a 2,500 three-element package could be considered a lot) you may want to enlist a mail house.

 

A good mail house is a fully-automated assembly line which folds, stuffs and applies postage. Most, for a nominal additional fee, will send your mail under their bulk rate permit. All houses are equipped with labeling machines for addressing (find out what type they use before you print) and most now will print direct to the envelope from disc (always back-up, never let the original disc leave your possession).

 

Labels, however, are not preferred. Think about your impression when you receive a labeled envelope as opposed to one which is printed. You could also print the envelopes yourself to save cost, but keep in mind, the machines which process the mail are precision (or should be) and the envelopes need to be in new condition.

 

As a general rule, the more personalized a piece, the better the return. You will need to run a cost analysis to decide the best course for a particular mailing. If, for instance, you are addressing the envelopes to "Business Owner" as opposed to a person, the extra expense and logistics of printed envelopes may not be justified.

 

On the other hand, if you bought a high-quality by-name list, it may not make sense to then send via bulk-rate on labels.

Again, mail house cost is usually worth it for large scale jobs, but a test mailing may be in order. Manually process and send out a couple hundred. Gauge the return. If you want to approach mail marketing on a more gradual basis while your making calls, send out 10 or 15 pieces a day or a hundred a week. If you want to go all out, a mail house can save your sanity and get the job done fast.

 

A quick note: Seed your mailings. Seeding means you include yourself and maybe a few friends on the list you provide the mail house. The practice lets you know the mail went out and is being delivered.

 

The Phone

The best bet is to avoid the return mail process with a predominately displayed, preferably toll free, phone number on all your marketing material. You want the prospect to call, not mail, a response. But some people just prefer to mail. Give them choices. Then, if you haven’t heard back, call. They may not make a move until they receive a personal approach.

 

You should not only have a dedicated fax line in your home office, but also a voice line for business only. Stand-by voice mail, which picks up when you’re on the line, is pretty much a necessity. The last thing you want is for a prospect to get a busy signal. Chances are, they won’t call back. You clicking back and forth with call waiting is not much better.

 

A good greeting message would be something like: "You have reached John Smith of U.S. Checkbyte. I’m either on the other line or away from my desk, please leave a message after the tone and I’ll return your call shortly."

 

You may want to check with your phone company about voice mail paging links –– when a message is left, your voice mail pages you with your own number. However, you may not want to let everybody know you have this system. Sometimes, for whatever reason, you may not have a chance, or you may not be inclined, to return the call right away. If the caller knows you are paged with each message, they may feel slighted – thinking you had more important things to do then return their call.

 

Image

Remember, you will be dealing with peoples’ money. You must project professionalism.

 

That is not to say you can’t be friendly. Developing relationships grows business. You may need to think more about the sort of prospect with which you’re dealing.

 

Are they formal and reserved? Then chances are you should refer to them as Mr. or Ms, sir or mam. Don’t kid around. Think of yourself as a consultant offering a credentialed, financial service. Be friendly, but professional.

 

Is the prospect relaxed and informal? Then go to a first name basis. Ask how their weekend was. Get on their wavelength. If they initiate it, kid around a little bit. Don’t be all business.

 

And no matter what, whether the prospect is formal or informal, ask about their business. Let them talk as long as they want. If you think you’re doing a lot of talking. Stop. Ask a question and listen.

 

A few words about rejection:

Just forget it.

 

There are always going to be people who are not going to change or move with the times. In business, that’s usually the kiss of death.

 

You are offering a prospective client faster, more dependable systems of cash flow with immediate cost savings. If a businessperson doesn’t want to at least hear you out and learn more about the your product and service, chances are they are not big enough, or sophisticated enough, to qualify as a client.

 

Move on. Your time is valuable and there is another thousand businesses which will want to get with the program.

 

Sales Calls

The following script is a guideline. Customize it to fit your personality. Develop a natural approach; something with which you’re comfortable. You don’t want to sound stiff –– like you’re reading a script.

 

Sample Script

First Call

 

Receptionist: ABC Industries, may I help you?

Chris: Hi, this is Chris Smith at U.S.Checkbyte. I’m calling for the owner, or the executive who oversees account receivables. Can I ask who that is?

Receptionist: Yes, that’s Mr. Jones. Hold on please.

Mr. Jones: This is Jack Jones.

Chris: Mr. Jones, this is Chris Smith with U.S.Checkbyte. We provide systems which automate account receivables for businesses, delivering their monthly payments on the day they’re due without the expense and labor of invoicing. I wondered if you might spare two minutes to learn more about our service and systems?

Mr. Jones: Yeah, sure.

Chris: Well, in short, we provide a pre-authorized bank draft service to both you and your customers. For the business, as I just mentioned, you get your payments on time, you don’t send out invoices, you either eliminate or reduce reminder calls and the service cost only about $1.25 per payment. For the customer, they don’t have to write checks, address envelopes or lick stamps, and they’ll know their bills are paid on time. Does that sound like a program that might work for you?

Mr. Jones: It could, but I don’t know if the customer will go for it.

Chris: Well, usually new customers are no problem. You can either tell them that’s just the way you accept installment payments and if they want to get a bill in the mail, there’s an extra charge, say about $7.50 for invoicing, postage and handling. I can provide the mailing material to phase in your current customers and, yes, some may not want to sign up. But over time, you’ll get the majority or all of your receivables automated. You’ll save money in time and labor and your receivables will come in like clock work. Are you interested?

Mr. Jones: Yes, but I don’t know anything about U.S.Checkbyte.

Chris: I understand. U.S. Checkbyte is a division of Automated Payment Systems. We’re a national company registered with the Federal Trade Commission and the state of _______ and we’re based in St. Petersburg, Florida. I could go on, but how about this, may I forward on some literature which will tell you more about the company?

Mr. Jones: Sure. The address is…

Chris: Very good. I’ll drop that in the mail and give you call in a few days. If you think the program might work for you, maybe we could get together early next week.

Mr. Jones: Sure. That would be fine. I’ll look for your letter.

Chris: Great. Oh, by the way, how many monthly payments do you think ABC Industries receives each month?

Mr. Jones: Oh, about 150 to 200.

Chris: WOW!!! I could really make some big bucks off you then... uhh... I mean... [web version] these systems could really work for you then. I’ll give you a call early next week.

Mr. Jones: Okay, talk to you then.

 

The optimal condition is that you quickly get to the point where you need no script. That you aren’t even really selling, more consulting.

 

If you effectively explain the benefits of the U.S.Checkbyte range of services, and if the business is large enough, and the management sophisticated enough, that business should be an account.

[Resource materials and marketing devices were included with this manual.]