You’ve probably heard of managing by statistics. Now, let’s talk about making those statistics happen. Here’s an example of a recent statistics success story:
Vivian’s Door, on a mission to use a connectivity mobile app to help small businesses network, collaborate, and pull together for capacity building and increased business opportunities, business financing, and resource support. Inspired by Vivian Malone, who was a history making door opener for minorities to integrate higher education, Vivian’s Door knows that education and commerce make for a fuller package needed for job creation and entrepreneurship.
Vivian’s Door reached out to Ramos Group, a performance elevation consultancy, for help with an emergency fundraiser, twice. On the first instance, they were able to achieve 100% of goal within the timeline, and on the second occasion, they achieved 150% of goal within a shorter timeline.
As you can see the percent of goal increased by 50% (from 100 to 150) and the response time was shortened by 86%. Read below to see how different approaches are needed for different target markets.
How Vivian’s Door made stats happen:
- Reached out for help from a trusted resource (Ramos Group).
- In the first business deal, they chose a narrow target market of potential supporters that had higher capacity for supporting the cause. They selected those that knew and trusted our background for performance. A more personalized and formal approach was needed here.
- In the second business deal, they cast a wider net and were able to connect with a higher volume of smaller supporters who gave quick replies. Less time and formality was needed with this group. These supporters also expressly stated that their support was based on their trust levels of who we are with the mission at hand.
- Target market mastery was key for the fundraisers. Because of the moderate to high level of complexity of the project, there was a greater need to clarify the purpose and benefits of it to the potential sponsors. In that case, the product sale needed to be more personalized including sharing customized materials and having follow-up conversations. In this case, fewer customers with larger per customer spend was needed because of the time and effort expense for the sale.
- In the second sponsorship selling process, the target market mastery included a broader audience to include smaller sponsorship opportunities. The project was easier to promote and get the masses excited about. Less time was needed for project materials that did not need to be tailored to specific customers, follow-up conversations were brief, and dollars were quick to be received.
- Trust was mentioned several times and of course is paramount to any relationship, especially those involving money. Mostly, trust comes from your track record where those who have known you or of you for a period of time see that your actions definitely reflect your words. A good track record of being trustworthy is the best set of stats you can have. If your history shows consistency and/or increases in doing your best for those you serve, your trust statistics will be good. While your passion for doing good should be high, your performance levels should reflect that you are doing well. Anyone who invests in you, should know that your use of resources will produce more than you received. The entire business process includes what is invested plus the performance added to the investment and the accountability presentation of the finished package. Customers deserve value and appreciation for their vote and contribution made to you versus your competitor.