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DATA FOR THE
WIN
Tabitha Sarris
St. Louis Regional Chamber
Vice President, Investor Relations
Mary Perez
St. Louis Regional Chamber
Database Administrator/Membership Intelligence Expert
• Ranked #1 for women entrepreneurs (seek business capital)
• Fastest growing startup scene in the
country (business insider)
• #1 city for millennials & most affordable (penny hoarder & redfin.com)
• #5 most underrated city in America (jettsetter.com)
• #3 most generous large city (charity navigator)
• #2 food city in the U.S. (yelp crowd source)
• Best Beer Scene (usa today)
Greater St. Louis Region
• 15-county, bi-state
metropolitan area
• 2.8 million residents
• $161 billion economy
MACOUPIN
MADISON
JERSEY
BOND
CLINTON
ST. CLAIR
MONROEJEFFERSON
CALHOUN
LINCOLN
ST. CHARLES
ST. LOUIS
ST. LOUIS
CITY
WARREN
FRANKLIN
DATING AND DATA
The Sales Cycle
Identifying the Leads
Closing the Sale
Engaging the Member
Member Retention
SALES CYCLE
COLD LEADS
• Heavy research is required
• Google, LinkedIN, word of mouth, drive-by’s,
social media
• It doesn’t exist if it isn’t logged in your CRM
system
• Who are they and where do they come from?
• Business Journals
• Local papers
• Internet stories
• In-direct referrals
• LinkedIn Sales Navigator
• Time is money – so document!
• Heavy documentation is required. These
leads can take up to ? to close
Cold Leads # of Days to Close
TypeFY 2017 FY 2018 FY 2019 Total
Membership Average # of Days to Close 35 56 51 47
Number of Accts Closed 10 48 57 115
Regional Investment Average # of Days to Close 133 128 111 124
Number of Accts Closed 36 21 22 79
Rejoin Membership Average # of Days to Close 34 42 47 41
Number of Accts Closed 7 9 10 26
Rejoin Regional Investment Average # of Days to Close 33 39 57 43
Number of Accts Closed 2 2 3 7
Grand Total
Average # of Days to Close 59 66 67 64
Number of Accts Closed 55 80 92 227
• Requires more nurturing
of the relationship
• Takes more time to
decide if joining is the
right fit
• Likely requires more
negotiation
WARM LEADS
• Research is still required, in a different form
• Do your research, like a cold lead
• Invitation to attend an event as your personal guest
• Schedule meeting
• Who are they and where do they come from?
• They know a little bit about chambers and are
open to learning more
• Acquired through an advocate of a chamber,
attended an event, follows you or the chamber
on social media, signed up for a newsletter,
showed interest in some way
• Time is money – so document!
• Heavy documentation is required. These
leads can take up to ? to close
Closing Warm Leads - Event Participation
• Invited and attended
an event
• Shown interest in a
specific chamber
benefit
• May move thru the
sales pipeline more
quickly
Type
FY 2018 FY 2019 Total
Policy Event Average # of Days to Close 17 11 14
Number of Accts Closed 2 8 10
Networking Event Average # of Days to Close 17 22 20
Number of Accts Closed 2 5 7
Health Benefit Plan Average # of Days to Close 7 5 6
Number of Accts Closed 19 25 44
Grand Total
Average # of Days to Close 14 13 14
Number of Accts Closed 23 38 61
HOT LEADS
• Research is still required, in a different form
• Know the HOT buttons, or figure them out quickly
• Bring an advocate with you to the meeting
• Who are they and where do they come
from?
• Qualified lead alert!
• Acquired through chamber advocate
• Fits the BANT
• Time is money – so document!• Heavy and QUICK documentation is needed
• These leads are ready to go, BUT they need strong nurturing the first year for retention. Expectations are typically higher for HOT leads
• These leads still takes ? to closePhoto by Elijah O'Donnell on Unsplash
Hot Lead # of Days to Close with a Referral
• More open to a
conversation
• Better relationship
alignment
• Likely to join
TypeFY 2017 FY 2018 FY 2019 Total
Membership Average # of Days to
Close
30 42 14 29
Number of Accts Closed 3 18 2 23
Regional Investment Average # of Days to
Close
40 47 36 41
Number of Accts Closed 2 5 3 10
Rejoin Membership Average # of Days to
Close
3 2 1 2
Number of Accts Closed 4 2 1 7
Rejoin Regional Investment Average # of Days to
Close
5 6 10 7
Number of Accts Closed 1 1 1 3
Grand Total
Average # of Days to
Close
20 24 15 20
Number of Accts Closed 10 26 7 43
• Relationship building
• Value in the group benefit
• Listening for what the
want/need
Referral Source
Conversion
Converting Leads
65%
88%
100%
63%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Referral Event Attendance Health Benefit Program Other
Co
nve
rsio
n %
Lead Source
THE SALE
Congratulations! You have a new member.
Keep documenting!
ENGAGE –
THE MOSTIMPORTANT STEP
• Focused Events
• Sponsorships
• Thoughtful Connections
• Purposeful Engagement
• DOCUMENT
An engaged member is your
best advocate
Thoughtful targeted initiations
based on interest
More likely to attend the
event
Member Engagement*
Event Type FY 2018 FY 2019 TotalEntrepreneurship & Innovation Attended 1 6 7
Investor Development Attended 20 11 31
Public Policy Attended 3 13 16
Strategic Operations &
Operations
Attended 2 4 6
Grand Total 26 34 60
*Engagement example is for one member
RETENTION
• Received & Perceived value
• Return on Investment (ROI)
• Referrals
HOW ENGAGED ARE YOUR MEMBERS
5 – Super Engaged 4 – Engaged 3 – Engaged enough
2 – Kinda engaged 1 – “We’re a member of the
Chamber?”
VALUE ON ENGAGEMENT
Return on Investment
• You won’t always have a
tangible Return on
Investment (ROI)
• Know the difference
between the received value
for the investor and the
perceived value
• Remember – a closed new
business lead for your
investor is their ROI
Referral
• Lead to a hot leads
• Always ask!
• Offer something of value or
a unique thank you for a
referral
Photo by Ivan Bertolazzi from Pexels
WHAT DO YOU NEED TO DOCUMENT?
WHAT DO YOU NEED TO DOCUMENT?
Revenue
In-person communications
Purposeful Engagement
Partnerships
Event Attendance
Relevant personal details
Electronic
Communications
Common Connections
Thoughtful Connections
Passions/Interests
Any Asks
Freebies
SALES CYCLE
