The ActionCOACH Ladder of Loyalty

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As an ActionCOACH business coach, I’m all about building profitable businesses that allow my clients to achieve their dreams. Hence, when it comes to making my clients more profitable, I’ll go to almost any length. Because I know that it’s six times more expensive to acquire a new customer than retain an existing one, I teach the ladder of loyalty. Foremost, this method of increasing the lifetime value of an existing customer saves my clients, time, energy, and most importantly, money.

What is the ActionCOACH Ladder of Customer Loyalty?

The idea behind the ladder of loyalty is to move each and every person who enters your sales funnel as a suspect up the ladder of loyalty. Before you know it, you’ll have a whole database of raving fans out selling for you!

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Suspect

Suspects include any individual or business name who you’ve acquired through marketing efforts, and who fits into your target market demographic. For instance, you might collect the business cards of everyone who stops at your booth at a business expo. Once you’ve removed any that don’t fit into your target market, the remaining individuals would be considered suspects.

Prospect

Your suspect will become a prospect when they become interested enough in your business to make an inquiry. This could mean downloading a piece of your marketing material, submitting a request for more information, or even scheduling an exploratory meeting.

Shopper

A shopper is an individual or business that has purchased from you once, but not yet decided to continue doing business with you in the future.

Customer

Customers include individuals or businesses who have purchased from you more than once. When you start to see a consistent buying pattern, you’ll want to move customers to the next rung on the ladder.

Members

In order to move a customer into the member category, you’ll need to build a trusting relationship. The people who enter this category feel like they belong. You may reward them with a member kit or other benefits. You’ll know you’ve succeeded when the customer is no longer seeking competitive quotes for your product or service.

Advocate

Your members will become advocates when they start selling your product or service for you, through referrals and testimonials.

Raving Fan

Raving fans take it upon themselves to do your selling for you. They can not stop promoting you. Whenever they’re out in public, they talk about the great product, service, and experience they have with you. Therefore, they’re an integral part of your sales team!

Why Should I Take The Time To Categorize My Database This Way?

The bottom line is that as your ActionCOACH, it’s my job to help you make your business more profitable. This means leveraging everything you’ve already got to increase your cash flow. Profit does not occur by increasing the number of suspects and prospects in your database. It occurs when you convert the majority of your customer base to raving fans. Overwhelmed by the thought of this project? Contact me for a free 1-hour coaching session.

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Think about it: why would you spend all of your time filling the bottom end of your ladder, when it’s so much easier to sell an additional product or service to someone who already trusts you? And beyond that, doesn’t it make more sense to put more of your resources into a person or business who is actively helping you sell? We should all aim to have a database full of advocates and raving fans.

How Do I Develop A Ladder of Loyalty?

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The ActionCOACH ladder of loyalty concept is not rocket science, yet to make it work, you will need to invest a little bit of time in it on the front end. First, you’ll want to classify all of the people currently in your database to know where they are on the ladder. Then, figure out how you’re going to move them from one rung to the next. Consistency is key – if you can automate your process, even better. There are many strategies that can work across a wide variety of businesses and prospects. For instance, you could build a branded member kit for each customer that becomes a member. If you’re stumped on what actions you can take to move people up your ladder of loyalty, I’d love to talk. As your ActionCOACH business coach, I’ll help you define the entire process!

Contact me for a FREE Consultation!

ActionCOACH Strategy

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What to have higher profits? Unless everyone in your database is a raving fan, you should constantly be moving customers up your ladder of loyalty. And, it will be easier to do this if you first consider your strategy. In the end, you’ll put a process in place for each rung on the ladder.

If you’re not sure where to start, or if working on your ladder of loyalty seems too daunting, I’d love to chat. Business owners can schedule a free, 1-hour consultation. I’ll listen to your most pressing challenges, and help you clarify your vision for the future of your business.

Remember, as your ActionCOACH, I’m here to make your life easier, and give you more time to enjoy the things that matter most! The ladder of loyalty will do just that.

ActionCOACH 2018 Winter GrowthCLUB

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There’s nothing better than the start of new year. This week, I hosted my Winter GrowthCLUB, pulling many of my Group Coaching and 1 on 1 Coaching clients into the same room. This opportunity to pause the work they’re doing IN the business to take a look at the work they need to do ON the business is invaluable, and one of my favorite days each quarter. It was a great day, and I’m eager to share a peek into it with you! 

Our ActionCOACH Support System

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There’s nothing like being surrounded by people who “get it,” which is why GrowthCLUB is so important. This collection of business owners truly care about each other, and motivate each other to succeed. 

Keynote Speaker

Rebecca-Heidepriem-ActionCOACH-Matt-Bartel-Digital-MeasuresIt’s always my goal to bring an inspiring and engaging speaker to GrowthCLUB, and this session didn’t disappoint! I was honored to have Matt Bartel, CEO & Founder of Digital Measures spend the afternoon with us. His experience as a business owner who “boot-strapped” his company from day one was relevant, and his energy and open-book attitude were of huge value to my clients. 

Client Recognition

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I’ve decided that each quarter, I will recognize three clients with awards. For their work and progress in the fourth quarter of 2017, I awarded these fine folks: 

  • Mindset – John Leidy, Owner, JDBC Tax 
  • Light At The End Of The Tunnel – Ian Baxter, Founder & CEO, Swarming Technology
  • Grace Under Fire – Richie Burke, President & CEO, GoGeddit

Sponsors

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It’s been a pleasure each quarter to welcome a number of supportive community partners to GrowthCLUB as sponsors. I’d like to send a warm thank you to: 

All in all, Winter GrowthCLUB was a productive and inspiring afternoon. If you’re interested in learning more about my ActionCOACH programs, or if you’d like to be in the room for Spring GrowthCLUB, contact me today! 

5 Ways To Double Your Profits in 2018 With Your ActionCOACH Business Coach

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When my clients commit to ActionCOACH business coaching, they expect results. One clear indicator of success in the business world, is increased profits. If one of your goals for 2018 is to increase profits in your business, keep reading. You’ll be amazed at how a small increase in one area of your business can have a huge impact on your bottom line. 

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Let me introduce you to the five simple ways you can increase your profits. I’ve witnessed my ActionCOACH clients implement this simple formula for massive results. You may be surprised to discover that you already have the tools necessary to see your business grow substantially in 2018.

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The ActionCOACH Formula: 5 Proven Ways to Increase Your Profits

The following are the top five factors to pay attention to if you want to increase your take-home profit each year. Taking a hard look at where you are currently for each of these factors will give you a starting point. Then, brainstorming ways to impact each category will be your ticket to increased profits. Later on, I’ll explain how utilizing all five factors will, without question, grow your business. 

#1 Number of Leads

What is the total number of qualified prospects who enter into your sales funnel each week, month, and year? If you’re not tracking this key performance indicator, start now.

#2 Conversion Rate

How many of those qualified leads converted to a sale? You can calculate your conversion rate with this equation: number of sales ÷ number of leads = conversion rate (percentage). For instance, if you close 100 sales from 500 leads, your conversion rate is .2, or 20%.

#3 Number of Transactions

What is the average number of transactions the average customer will make in a week, month, or year?

#4 Average Dollar Amount Per Sale

What is the average dollar amount a customer spends at each individual sale?

#5 Profit Margin

What percentage of each sale is profit, versus the percentage that pays for the resources required to produce the product or service? You can use the following calculation to figure out your profit margin: (Sales Revenue – Cost of Goods Sold) ÷ Revenue = Profit Margin (Percentage). Let’s say it costs you $100 to produce your product and you sell it for $115. Your profit margin calculation would be: $115-$100=$15/$100=0.15. You have a profit margin of 15%. 

How Do These 5 Factors Impact Your Bottom Line?

Let’s use some round numbers to see how this works. If you received 4,000 leads this year, and your conversion rate was 25%, you would have served 1000 customers. If each customer made two transactions and the average amount they spend with you was $100, your revenue would be $200,000. Your profit margin is 25%, so your profit for the year was $50,000.

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Ten percent may not sound like much, but this slight increase in all “five ways” will create an impressive increase in profits! Take a look to see what just 10% can do for your business:

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Now, let’s talk about what a 100% increase would do for your business. Here you can see the power of the “five ways” – your ability to increase profit compounds. If you double your efforts in these five areas, you’ll increase your profit by 32 times! By working with an ActionCOACH Business Coach and using these methods to increase your profitability, you’ll leverage what you’re already doing to see massive results. 

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Your ActionCOACH Business Coach Can Get You Started

When you’re a small business owner, it sometimes feels really hard to grow, but when you look at growth using the five methods I’ve described, small increases can lead to dramatic profits. If you’re not sure how to increase your margin by 10%, or 100% next year, I’d love to help.  In addition to teaching you how to put these five methods into action, I can provide accountability, assist in creating efficient processes, and be your cheerleader!

For more information, or to see if you qualify for a free consultation, email rebeccaheidepriem@actioncoach.com, or call (414) 324-0834.

 

The DiSC Personality Test: Build a Strong Team & Loyal Customers

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Looking to Build a Powerhouse Team? Devoted to Keeping Positive Client Relationships?

Consider tapping into the DiSC Personality Test. It’s an incredibly insightful tool used by over 1 million people every year. In fact, I rarely come across a successful business owner who doesn’t benefit from taking the DiSC Personality assessment.

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DiSC helps to identify four different personality types, which helps us better understand human behavior in various situations. It also pinpoints our strengths and weaknesses. Businesses can and should leverage this information as it improves communication, team dynamics, and productivity. Furthermore, it can enhance client and vendor relationships once you understand an employee’s DiSC style.

Start Communicating More Effectively

The DiSC theory proves that observing how your client communicates – and knowing how to adjust to their communication style accordingly – is an important step to solidifying any business relationship. When you increase your number of authentic customer relationships, you instantly have a more loyal customer base.

Let’s Use the “D” Profile as an Example

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As you can see, this person is talented at taking charge and getting things done. If a client or vendor of yours leans heavily to the “D” category, it’s to your benefit to be clear, brief, and organized with an agenda. This style of communication saves you from wasting your client’s time on long meetings or lengthy emails.

Now, Let’s Use the “I” Profile as Another Example…

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You’ll win over this client by creating an atmosphere of excitement, fun, and variety. Try inviting this customer out for a cocktail, or to an event to build a personal relationship. This may even be how you have your meetings. Even though they are a seemingly informal personality type, make sure you summarize in writing who is to do what, where, and when.

DiSC Improves Team Dynamics

Do you wonder how some business owners seem to hire – and retain – the best people? You can only assemble a “dream team” if you know what’s missing from your current team dynamic.  What type of personalities need to come together to feed your business goals? If you recognize this early on, you’ll be successful at managing your team (and any conflicts that come up!).

Here are some other benefits for your team:

  • Develop effective managers, supervisors, and leaders
  • Train a powerful sales force
  • Improve customer service
  • Help with change and conflict management

If your business partner’s personality leans toward “S”, you may find the following qualities in their communication style.

Action-Coach-DISC-Personality-Business-CoachingWith this personality, it’s important to support their feelings by showing personal interest and actively listening. While it’s not always possible, offering guarantees and personal assurances will satisfy their concerns.

What if you, the business owner, is a “C”?

Action-Coach-DISC-Personality-Business-CoachingHelp your team be successful at communicating with everyone on the team, including you. If you lean “C”, you most likely need time to think, and need others to be comfortable with silence. You expect others to demonstrate with actions rather than words, so perhaps it’s time to get rid of unnecessary written forms of communication.

Using DiSC Puts You At A Different Playing Field

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Utilizing your DiSC results means that you can stop wasting time with a communication style that doesn’t resonate. As a result, applying this knowledge to your business strategy allows you to play at a different level, which inevitably makes you a better business owner.

It’s important to note…

The DiSC model provides a common language everyone can use to better understand themselves and adapt their behaviors with others. Certainly, maturity, education, and life experiences are all factors in our leadership and work styles. And, depending on the situation, we can exhibit one style more than another, as we are all a blend of these four traits.

What I do I like best about the DiSC Personality Test? This information can change an entire business strategy, for the better. If you’re ready to see an improvement in communication, team dynamics, and productivity, book your Business Coaching session with me today. 

It’s time to raise your standards.

ActionCOACH Clients Fall 2017 GrowthCLUB

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I’m always excited for our quarterly GrowthCLUB sessions; this one had me feeling lots of gratitude and pride for the work that my clients have done over the last quarter. I’m eager to see how each business strives to reach their goals and close out 2017 strong. 

Here are a few of the incredible folks that I get to spend time with each week. I see part of my job as an advocate for each of them, and I encourage you to check out their businesses and see how you might be able to partner with them in the future! 

Business Owner Awards

I gave three awards this quarter, to extremely deserving owners. Read on to find out who and why!

Mindset

The “Mindset” Award went to Gloria Ramirez and Mara Natkin of Artery Ink, for sharing their positivity and dedication to growth with everyone they interact with! (PSA: EVERYONE needs their product – from beautifully illustrated greeting cards to tee shirts, a calendar, and a coloring book, they’ll have something for your gift-giving needs!) These gals would also love for you to share their art on social media – you’ll find them on Twitter, Facebook, and Instagram.

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Light At The End Of The Tunnel

The “Light At The End Of The Tunnel” award went to Dave and Laina Johnson of Cabinetry by Artistic Design (Dave is pictured below with myself and BJ Parrott of Milwaukee Metal Products Co. and Laina is pictured below with Mara Natkin of Artery Ink). Dave and Laina are a father-daughter team who took their goals seriously in Q3 and have made super headway! 

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Grace Under Pressure

The “Grace Under Pressure” award went to Jackie Steinmetz of Accelity Marketing for keeping her cool when a staffing situation went off the rails, which resulted in a win-win for her business and reputation. Jackie couldn’t join us last week, as she was in Boston for Hubspot’s Inbound conference – way to stay on the cutting edge of your field, Jackie!

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GrowthCLUB Sponsors

I also want to take a moment to thank the businesses who sponsored Fall GrowthCLUB. These four organizations jumped on-board and shared some great info. throughout the day. Much gratitude to all of you!

Law Offices of Rick D. Steinberg

Rick Steinberg of the Law Offices of Rick D. Steinberg (pictured below, between Cortney Ihde of Executive Women International and Kamal Irani of STAT Transcription) shared that he not only specializes in estates and probate, but can help business owners with debt collection as well. 

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JDBC Tax & Books

John Leidey of JDBC Tax & Books (pictured below with Gloria Ramirez of Artery Ink) asked our group how many of us like paying more than we should to Uncle Sam – then shared how he can help us understand and structure our businesses to pay less! 

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Filament

Kelly Andrew of Filament (pictured below with myself and Dan Trimboli from Pure Sound & Vision) hosted the happy hour following the event. Her team joined us to take pictures, and I can’t stop raving about their online marketing services (ahem…it might even be someone over at Filament writing this blog!) 

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Wisconsin Bank & Trust

Wisconsin Bank & Trust was my only non-client to participate in the day, but I knew from testimonials from a number of my clients that they are a great organization who want to support business owners. Nick Pierce, Business Banker (pictured below between Richie Burke from GoGeddit and Kelly Andrew from Filament) talked about the importance of being able to get a line of credit to a small business. 

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Great Clients = Growing Businesses

It’s a pleasure to work with all of my clients, and I’m eager to see what they produce in Q4. Until next time, here are a few more shots of this incredible group of owners. 

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Mara Natkin & Gloria Ramirez from Artery Ink, Jaime Hayden of Flying Squirrel Pilates, Torrey Nagel of Better Partners, Joel Walker & Allen Cooper of Ancilla Partners, Inc.

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Sadie Tuescher from  Wisconsin Health Insurance Advocate and Joel Walker from Ancilla Partners, Inc. 

 

S.M.A.R.T. Goals – Power Ahead to Q4!

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Why Do Goals Need To Be S.M.A.R.T., Anyway?

S.M.A.R.T. goals are the most effective way to set yourself up to actually achieve your goals. Before you even start your quarter, you’ll have an action plan for potential obstacles and most importantly – a deadline to work towards, which will keep you accountable.

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Many business owners set goals on a quarterly and yearly basis, yet many don’t actually hit those goals. The problem is that they are missing prudent information in order for them to be successful. Visualizing your success is only one piece of the puzzle – the most important piece is the action that must follow.

S.M.A.R.T. Goals Are: Specific, Measurable, Achievable, Results-Focused, And Timely

Below, I’ll break down exactly what to consider when designing your S.M.A.R.T. goals:

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Making a goal specific means you are able to pinpoint:

  • Who needs to be involved
  • What it is that you want to accomplish
  • Identify requirements or restraints ahead of time and prepare for them

Avoid setting yourself and your team up for disappointment due to a simple oversight. Do the work ahead of time and you won’t end up with surprises.

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Additionally, without having a solid method for measuring your progress, or defining what “success” looks like, you’ll never know when you’ve crossed the finish line.

Ensuring your S.M.A.R.T. goals are measurable means asking the following questions:

  • How much?
  • How many?
  • How will I know when it is accomplished?

Answering these questions will help you stay on track and regroup if necessary in order to reach your targets.  Utilizing a method for measuring progress allows you to support your team in their goals, too. Also, you’ll feel the excitement as you get closer and closer to your goal.

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A business goal should stretch your abilities, but still be possible. As you design your goals, ask yourself the following questions:

  • Are the necessary resources available to you?
  • Can you afford to do it?
  • Is the amount of time you’ve committed to realistic? 

Reflecting on these questions can assist you in identifying opportunities you previously overlooked or additional resources. 

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What is the result you are looking for? Step back from the specific activities that need to be accomplished and visualize what exactly “success” will look like.  Being clear about the results you’re working towards will keep you focused until you’ve achieved success, and keep distractions at bay. 

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Every goal needs a target date so that you can hold yourself and your team accountable. Having a specific and challenging deadline also keeps everyday tasks from taking priority over your long-term goals. Answer the following questions for yourself:

  • What can wait to get done six months from now?
  • What is the most important thing for me to do today to reach my goal?

Your answers will help lay out your action plan all while being realistic. 

If You Aren’t In The Habit Of Being S.M.A.R.T. Just Yet…

This could not be a better time to start. With Q4 fast approaching, why not ensure that you end your fiscal year with a bang!  S.M.A.R.T. goals encourage the preparation and focus needed to take success into your own hands. 

If you feel ready to move your business to the next level, contact me today! We can connect with a complimentary consultation – with no obligation to sign up for coaching afterward.  We will work together to redefine your dreams and vision and then put into place the necessary strategies and tactics to turn your business venture into a thriving one. 

 

ActionCOACH: The Dreambuilder

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As a successful business coach, it’s critical that my clients believe they can achieve greatness. I stand by the philosophy that what we do – what we think about – what ideas and dreams we place in the center of our lives – it all has the power to take us to the next level and to steer us in the direction of success.  

Over the course of my career, I have seen incredible personal and professional transformations for business owners who trust that dreams do, indeed, drive results. This starts by asking yourself: what is it that I dream about – and, am I dreaming big enough?

You Must See It to Achieve It.

By using the ActionCOACH Dream Builder as a guide, you will be able to visualize your future of greatness. Prepare to think in terms of what you have, what you do, and who you are. These basic realizations will drive you to the results you want and deserve. In essence, you’ve got to see it to achieve it.

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What You Have

Look into your future. Think about the physical items, the stuff, the things you own. What do you want to have? A boat? Jewelry? Your very own personal library? Get detailed.

Where is your lake house located? Or what is the view from your cabin in Aspen?

How many cars do you own and what kind?

How many millions are in your bank account?

Where do you entertain your guests? What do you serve them?  

Brad Sugars, founder of ActionCOACH, visualized his dream down to the red stitching on the leather seats of his helicopter. And – you know what? It came true.

Knowing what it is you want will help you get it.

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What You Do

Now, let’s shift to the type of experiences, the adventures you want to have. For me, I dreamed of going on an African Safari. I saw myself exploring a new world, a new culture, and this dream became a reality only a few short years after thinking it was even possible. What do you envision for yourself?

Maybe you’re not a traveler. Maybe your dream is to receive a major award for your great work.

Maybe you want to have a large family, with spontaneous vacations and traditional evening dinners.

Maybe you want to meet your favorite musician – which, by the way, I know two business owners who decided that it was their dream to meet Katy Perry, they visualized it, and met her, almost by mistake!

Imagining what you do with your time, with your “things,” with the ones you love, is one step toward making that happen.

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Who You Are

A great way to think about who you will be in your future: imagine how you want people to remember you. Start by thinking about what’s truly important to you.

Are you a spiritual person? Are you connected to your source?

Do you have close friendships – people who value you? Who support you? Who are fun, healthy outlets?

“I am…” Statements

After you’ve given some thought to your dreams, it’s time to write them down in the form of “I am…” statements. I’ve always got about 20 of these on an index card in my bag. I review them every morning, and again in the evening; I believe that I’m moving toward them on a daily basis. Phrasing them as if they already exist in your life makes you more likely to believe you deserve and can achieve these magnificent dreams.

Here are a few examples of what I envision for myself…

I define healthy and fit.

I am a traveler of all continents.

I am a mentor for my clients, I do not run their business.

I am an amazing coach, working with amazing people, who are doing amazing thing, and we are a getting amazing results.

I am uncomfortable and it feels great because it proves I’m growing!

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Amplify Your Success.

Your Dream Builder is a tool to help you amplify your success. It all starts with a dream. If you were guaranteed that you’d achieve your dreams, wouldn’t you dream bigger? You deserve to build a business that will allow you the opportunity to get that cabin in Aspen. I’ll coach you to build your business so effectively, so successfully in fact, that you won’t even have to worry about running it when you’re enjoying that view.

 

Connect with me to learn more about creating a healthy, happy, successful business and life. I’d love to help you dream bigger.