Few Questions for 7878 method

1) Conversion rate? I sent out 20 letters, 12 to restaurants and 8 to motels/hotels only got 1 call back and scheduled a meeting, but if I follow up on the other 19 by calling them would any turn into sales?

2) So I had a meeting with my first and only person (motel owner) to call me back, he bought up a few points I didn't really know how to answer, he kept saying the people who left bad reviews just wanted a refund and when he didn't give his customers a refund they would leave a bad review, so I told him it's very hard to remove the reviews but we can get more reviews to suppress them, he said that most of his customers are long term and probably won't leave a review so I said feedback cards or incentives. However what if someone leaves a bad review? I mean like they don't go through the feedback card/my funnel but straight to tripadvisor etc, how do we stop/avoid this?

3) Which reviews funnels are you all using? Or using your own custom one? The only ones I know about right now is originalposters feedback magnet on bhw, and the others are just from google searches.

4) What to charge? The person that called back we did a deal for $100 per month for 3 months (I haven't got his money yet because my parents said I needed to provide them with a formal invoice and contract) I was hoping for $200+ but it's alright as it's my first client and this is more of a learning experience for me! At the start I was thinking of around $300-$500 but my parents said it was ridiculous so I went to around $200.

5) How to write a contract? Like how formal does this need to be? Does anyone have any examples you could PM me?

6) Anymore tips? If anyone has heaps of ORM experience please PM me and maybe we could have a little chat?

Thank you!

Bumping this up hopefully someone can help me

1) Conversion rate?

Conversion rates depend on a lot of factors, there is no "go to figure." It depends on your cover page, your presentation, and applicable use of psychological factors (such as inducing apocalyptic fear for their business.)

2) Congratulations on your first client, it must be very exciting for you! If you get one call from 20, your conversion rate is at 5%, which is really good for any business!

Sometimes, we're caught up on a corner for not knowing the answer, the best response I usually give is "let me take it up with my XXXXX and get back to you as this is a unique issue we haven't encountered yet and requires special consideration." That allows the client to feel carefully thought about. ORM is not about REMOVING bad reviews, it's about using a funnel to LIMIT bad reviews and encourage good reviews. This will balance out over time. Bad reviews cannot be completely removed.

3) Which reviews funnels are you all using?

It doesn't matter what tool you use, it just matters that you have one. Feedback magnet looks nice, but very pricey for starting up. You could get someone on freelancer to develop you a funnel and by toying around with the source code with little programming knowledge, you can figure out how to make it work for another and another.

4) What to charge?

You charge with what you're comfortable with. Your parents are on the wrong side of history, they don't know the value of ORM. Normally, I charge $500-1000/mo for this kind of job. They're not paying you for your time and for a stupid template, they're paying for a valuable solution to a serious problem. If you marketed ORM as the solution to the inevitable end of their business, and the increase in income they'll receive from your efforts of improving their online reputation - you'll end up getting paid more than you imagine. The price tag exists solely in your head. If the customer doesn't like your price, he can enjoy his 2-star reputation, move on.

5) How to write a contract?

Look up free contract templates and modify them to your desire. There's nothing special about a document that states the responsibilities of both parties, and the (legal) consequences if they aren't followed through.


6) Anymore tips? If anyone has heaps of ORM experience please PM me and maybe we could have a little chat?

I think I covered everything you asked here, nobody is going to spoonfeed you answers to questions you didn't ask - this is a forum, not welfare. I wish you the best of luck on your journey and hopefully you will close more clients in the future!
Cheers

Good job! My fiance's company is about to adopt this service to compliment their social media marketing, content creation and pr services.
I have cold called, done ppc, also direct mail and hired my own telemarketers for my biz, and I have to say thats a good conversion rate you have so far. Direct mail averages 1% on avg spanning most professions. Customizing it towards tye prospect increases that rate.
Did you wite out the whole letter or just the remarks?

Slight problem I've encountered as I'm still a minor the laws around signing contracts means that it means nothing for me, same as registering a legal business.

THank you for you full response, it is very helpful and I like they way you put it as "limiting" the bad reviews, very nice

Does anybody have more tips on this???