It's hard to believe but our deal flow has actually increased since the Coronavirus. We are several weeks into the pandemic and we are signing new deals. When the news first hit that the country would essentially be shutting down Erik was pretty scared and it put him in a funk. The next day he was starting to come out of it and by the third day we were on the offense. We quickly realized that we needed to re-think some of our strategies and marketing efforts.
The first step was to cut unnecessary expenses. We regularly monitor expenses and cut back when needed so there wasn't a whole lot to cut, but we did trim off about $1,000-2,000 a month of expenses. Next, We doubled down on marketing. We realized that some industries were doing much better than others, even thriving, so we decided to tweak our marketing to reach those industries. It has really paid off. In the last couple of weeks we have signed four new deals amounting to $15,000 in monthly revenue. That kind of deal flow exceeded even our goal. Sure, we have lost some, but overall we are signing new deals with businesses who are doing great right now.
It might be a scary time to put yourself out there but it's important to remind others that you are still around and you are open to new business.
Erik J. Olson is an award-winning digital marketer & entrepreneur. The Founder & CEO of Array Digital, he is also the host of the Journey to $100 Million Flash Briefing and daily podcast, and the organizer of the Marketers Anonymous monthly meetups.
Kevin Daisey is an award-winning digital marketer & entrepreneur. He started his first company when he was just 23, and is the Founder & CMO of Array Digital. Kevin is also the co-host of the Journey to $100 Million Flash Briefing and daily podcast, and the co-organizer of the Marketers Anonymous monthly meetups.
For more information on the show, and to check out past episodes, go to journeyto100million.com!