I’m very happy to report that during the first three weeks of rolling out the beta version of GroupCaller™ things are looking great! Although there’s bad news along with the good, I’m basically thrilled with the results! I was very surprised after completing my analysis today because I was becoming a little discouraged with all the bugs and problems that still remain to be worked out of this application. Let me give you the bad news first.
The biggest issue we’re facing has to do with the PBX system we chose for GroupCaller™. For those of you that don’t already know, the PBX is the system that actually makes the phone call. This is a completely software-driven system. It used to be that PBX’s were a combination of hardware and software, but with the advent of VoIP, the industry has changed dramatically. We chose an “open source” PBX called Asterisk which is very popular all over the world. But it comes with some built in problems that are exacerbated when using it to conduct mass voice broadcast of the type we’re doing. We discovered a better system that reputedly has cured the problems of Asterisk. The most obvious problem is the fact that the majority of attempts to press 1 and transfer to an agent, fail. There are a number of other issues, too, but correcting this one problem will triple the number of leads we get. We’ve decided to install a much better PBX, but to do that, we’ll have to re-write our entire application from the ground up. The bottom line: MONEY! It’s going to cost a lot more than we anticipated partly because the entire system must be re-written, and partly because it’s a very complex and difficult system to write. But the up-side is that once it’s completed, the system should deliver 3 times the response rate! And that leads me to the GOOD news for today!
It seems that, even with the anemic response rate brought on purely by technical issues, we’re getting enough response right now to exceed my original projections for Phase I of our marketing strategy! I spent most of the day today studying the call results in the days since July 5, 2011. From July 5 to July 23 (Saturday), we made exactly 119,175 calls. Naturally, the vast majority of calls never connect with a live person. Here are the call results from that 18-day period:
- Call Statistics for Period July 5 to July 23, 2011
This shows a current Conversion Rate of 0.14% (Fourteen Hundredths of One Percent). There’s all kinds of good news around this number! First is the fact that by correcting the technical issues, we’ll automatically triple this percentage. Even with all the problems remaining to fix during the next couple of months with the GroupCaller™ technology, let me give you some very exciting stats: First, consider the following Pie Chart:
This chart represents the 0.14% of calls that turn into calls transferred to our Remote Agents. Notice that more than 42% of those who actually got through to speak to us (22% divided by 52% we spoke to) made an appointment, despite the fact that a full 48% of all those KNOWN attempted transfers actually failed. The true number of people who attempted to get through was far higher than the amounts shown here. Last week I completed an in-depth study listening to hundreds of call recordings. I discovered that fully 66% of all attempted transfers actually failed. I had suspected this was happening and confirmed it through the study. It was during the 2-week period of this study that I discovered the flaw in the PBX system that causes this problem.
Because the system was only passing through 34% of the attempted transfers, and 48% of THOSE transferred calls were in fact FAILED transfers (shown in the pie chart above), we would need to multiply the 0.14% times approximately 3 to come up with the “real” conversion percent, which would then mean we’re really getting an effective conversion percent of 0.42% (about four tenths of one percent). When we replace the current PBX with the new-and-improved PBX, I fully expect to see a real conversion rate of about four tenths of one percent.
We know we can increase the efficiency of our PBX and nearly eliminate the technical problems with the system. That’s a given. We know the issues and how to correct them. It’ll take about 2 months and more money than we care to invest, but it must be done and it will be done. But here’s what’s REALLY exciting: Our current statistics tell us that the projections I originally made were remarkably accurate, and in fact will exceed our expectations for the Phase I marketing campaign!
Here’s how we know this: The calls since July 5, while filled with technical problems, still produced a very real 0.42% Conversion (but transferring only 0.14% until the PBX is replaced). These are the people who want to know something about us (our LEADS) and press 1 to get more information. More than 40% (42.31%) of those people who got through to an Agent actually made an appointment to come to a webinar. To be realistic, only about 33% of those who commit to show up at a webinar actually attend the meeting. Let’s apply those numbers to the databases we’re calling:
- Business Database: We have about 8,000,000 records to call. Using the existing sales pitch, and once we replace the PBX (estimated as soon as August 20) we’ll tell 33,600 (that’s 0.42%) prospects about us when they inquire. About 42.31% of those people will commit to attend a webinar. That gives us 14,216 who agree to attend. But because only 1/3 of those who commit actually show up, we expect about 4,739 to be in attendance.
- In Consumer Database: We have about 80,000,000 phone numbers to call in this database. By applying the same formula as above to those 80 million database records, we’ll see about 47,390 actually show up for a webinar.
So the total “NET” attendees to the webinar, assuming we upgrade the PBX during the next month or so, and without making any other improvements to the script or the technology, including a number of other bugs we’ve located, We’ll close at least 8.11% of the attendees (that’s our closing percentage for the period under discussion, July 5 to July 23). Please note that although the current closing percent is 8.11% of all attendees during the past 18 days, that number WILL increase simply because we’re only half finished with the follow up on those attendees. But assuming the 8.11% closing rate does not change, by applying it to the 52,129 estimated attendee’s, we’ll recruit a total of 4,228 Remote Agents who join us during Phase I.
Our goal is 2,500. If the 4,228 buy an average of a Gold License (which is about where we are right now), with some of them financed and some of them paid in full, the average “per sale” revenue is about $5,000. That brings us to a total of $21,140,000 in revenue during Phase I.
The message is this: If you’re not actively using a GroupCaller™ Remote Agent License, you are missing out! If you are, congratulations! You’re one of the earliest users and as such, you’ve got one of the best chances of making it to a sizeable monthly income in record time, just by following the plan we’re teaching in our Orientation and Training meetings. Today’s economic climate in the USA and world-wide mean that we’re in the business of rescuing thousands and thousands of people from their own financial problems.
Stay tuned. I’ll be posting stats on a regular basis here. After years of development, this is the summer that we’re finally able to create a real sales volume and it looks like the wait has been well worth while!