SALES & MARKETING
The multiplier effect in your boat business
BY MATT SELLHORST
Have you considered the power of the multiplier effect on your boat business ? The concept is this : little things done over and over and over can have an enormous impact on success ( or failure ) over a period of time .
Consider in a different context ; if you were to eat a Big Mac , large fry and a large Coke for lunch every day for a year , what do you think would happen to your health ? Well , in the first few days , there would be virtually zero noticeable impact for most healthy adults . But , over time , you ’ d likely feel sluggish , bloated and eventually the weight would start piling on . Then , your blood pressure would go up and you may even experience some more serious health issues .
The same is true for the opposite with healthier eating . In those first few weeks , the positive impact could be virtually unnoticeable . However , over time you ’ d likely feel more energetic , lose some weight and your health markers would likely improve .
The same goes for taking positive and negative action in your marketing and sales departments .
If your sales team were to make an extra 10 calls per day to past clients , old leads and service clients , the additional sales opportunities wouldn ’ t be really noticeable . However , over a year ’ s time it would bring in dozens of new revenue opportunities for your dealership .
If you recorded and released three new video boat walk-arounds a week , the new leads wouldn ’ t immediately be apparent . However , after a year and over 150 new videos on your YouTube channel , I can say from experience you ’ ll see an impact in phone calls and sales opportunities .
And the opposite is also true , if your sales team stops making their outbound follow-up and prospecting phone calls . Or the quality of their email responses drops because of bad habits picked up during the pandemic boom , it may not immediately show in their sales volume results . However , over time , just like the Big Mac and fries , the negative impact on your body and business is bound to happen .
It ’ s the positive and negative multiplier effect . It ’ s not very impactful going from 1-2 , 2-4 and so on . But , over time when you get to 200-400 , 400-800 , 3,200-6,400 and beyond , the multiplying of positive actions becomes significant .
This month ’ s challenge :
Look at your sales and marketing teams ’ small actions on a daily basis and ask , are they multiplying in a positive direction or a negative one ? it ’ s the positive and negative multiplier effect . it ’ s not very impactful going from 1-2 , 2-4 and so on . but , over time when you get to 200-400 , 400- 800 , 3,200-6,400 and beyond , the multiplying of positive actions becomes signaificant .
Then , how can you reduce those actions / decisions that multiply results in a negative direction and replace them with actions that will multiply in a positive direction ?
Matt Sellhorst is the founder of Boat Dealer Profits Marketing Agency and author of the only business-building book for the retail boating industry , “ Boat Dealer Profits ; How the SPLASH System can help you sell more boats , make more money and have more fun .” Claim your free copy at www . BoatDealerProfits . com / freebook .
6 may 2023 www . boatingindustry . com