Daniel Rosen 00:00
Hey, credit heroes. Today we are talking with Deanna Knowles. She is the CEO of the famous group she has over a decade of experience in marketing, and she specializes in lead generation for credit repair businesses. They are a top company in this space, and they generate millions of dollars in revenue for credit repair companies. So if you are struggling to get clients for your credit repair business, or if you want to scale your business far beyond your wildest dreams, you better stick around. So the big question is this. How can we take our passion for helping people with their credit and turn it into a successful business without taking loans without spending a fortune by bootstrapping it from nothing? So we can help the most people and still become highly profitable? That is the question, and this podcast will give you the answer. My name is Daniel Rosen, and welcome to Credit Repair Business Secrets. Okay, before I dive in, if you are new to my podcast, be sure to click to subscribe and turn on notifications so you don't miss any of the secrets that I share each week here on the Credit Repair Business Secrets podcast. And if you want me to hold you by the hand, as you launch your very own profitable credit repair business, then go to creditherochallenge.com. And since today's interview is about marketing, I have brought in Keenan Jones, who is our resident marketing wizard, and he helped us to grow credit repair cloud to what it is today, hey
Keenan Jones 01:38
Canaan, hey, credit heroes.
Daniel Rosen 01:40
Anyways, let's get into this. Deanna Knowles is an expert in social media marketing and sales, particularly for credit repair businesses, as well as busy business lending and business credit. So if you're wanting to get more clients, if you want to scale, you're going to get a whole lot of very useful information today. So please welcome to the podcast. Deanna Knowles. Hey, Deanna.
Deanna Knowles 02:05
Hey, Daniel. Hey, Kenan, hey, credit heroes. Thank you for having me on. Such a pleasure to be on. I'm so excited to be on as well.
Daniel Rosen 02:15
And congratulations on all your success with the famous group. You're doing amazing.
Deanna Knowles 02:20
Thank you so much, and congrats to you as well. Well,
Daniel Rosen 02:24
thanks. We heard about you, because a lot of our most successful customers are working with you. So it's, I can't wait to get into this. Now you're working with credit repair businesses all over the country? Yes, we are. And how many credit repair companies do you help?
Deanna Knowles 02:41
We have helped over 1000s of credit repair companies since 2017.
Daniel Rosen 02:46
Wow, what are the typical results that you get for a company? So it
Deanna Knowles 02:51
depends right? Within advertising. When it comes to advertising for credit repair businesses, the results vary, because obviously, we are advertising on Facebook and Instagram, there's a lot of variables, but the number one variable is the conversion rate. Right. So it's the ability where you're the credit repair business owners ability to convert a lead into a client. So typically, what we like to do is we consult with the client and we go based on their ad spend. So the amount of leads that we're generating is all tied to their ad spend. So the amount of leads versus you know, from the leads to the conversion rate, that's typically what we look at. So what happens is, during that consultation, we'll kind of, you know, talk to them about what it is that they're looking for. So if you're starting out, you know, we recommend at least $25 a day to get good lead flow. And then from there, we can start scaling to $50 a day, $100 a day, we have a lot of clients who spend upwards 200 to $500 a day, just depending. But our goal is to always turn that dollar into $5 for your business. So for every dollar that you spend, we turn into $5 for you.
Daniel Rosen 04:00
Awesome, that sounds perfect for someone who's got a business that's going but what about someone who's just getting started with their credit repair business? Their biggest need is clients, if if they don't have any experience, but they don't have money yet to hire an agency? What are some things that they can start to do on their own? What would you recommend?
Deanna Knowles 04:19
So what I would recommend is doing organic right, first and foremost is going through your friends and family ask cluding you know, hey, can you you know, try some of my services and they were for me five clients, start building your base of referrals first, that's my number one recommendation, because everybody knows somebody, right? So you can always ask your friend family member to refer you to somebody. Once you build that base. What I would recommend is coming to an agency kind of see what it is that we can offer. That way you can start off with one of our starter packages where you can start generating leads so that you can get a taste of how to work with the leads that are generated from Facebook and Instagram. Because it is very different you know and you want to make Do you have a system in place where you have automations? That's nurturing all the leads that come in as well as a good follow up system on the back end for the leads that we're nurturing as well?
Daniel Rosen 05:10
Well, let's let Keaton jump in. This is his specialty. Yeah, I'm
Keenan Jones 05:13
curious, you have a lot of credit repair companies coming to you, whether like the biggest marketing mistakes are the mistakes you see business owners doing today.
Deanna Knowles 05:23
So the number one mistake or the number one downfall that I see is they don't have a system in place to nurture those leads, right. And a lot of people say, Hey, I have a lot of referrals, I've built my business on referrals. I'm now I want to scale my company to the next level, and I want to, you know, work with an agency. And the number one thing that I would recommend is, like I said, have a system in place have a team that actually knows how to work the leads, because the difference between cold leads and warm leads is day and night, the cold leads in and out a lot of nurturing or what should What should I say hand holding in the beginning, right? Um, so that you can nurture them from lead to becoming your friend to becoming a clients because they you know, a lot of these leads that we're actually generating for you, they know nothing about you. So your goal would be to get on the phone with them, talk with them, and meet them face to face so they can understand who you are, and that we build that relationship with them. So they can become a long term client.
And for people that don't know, like, how would you define like a hot lead versus like a cold lead?
Deanna Knowles 06:28
Got a good question. So a hot lead is someone like your best friend, right? So your best friend over for let's say a lot of our credit repair clients, they have referrals, right from, let's just say mortgage brokers, real estate for people that are wanting to buy a house. So let's just say the real estate office next door, refer someone over to a credit repair client office, and they're saying, Hey, my friend Stanley actually said to come here, you know, to help get my credit fixed, so I can potentially buy a house. So that's a hot lead, that's a hot word for a word, they've been referred to someone that has trust, a cold lead words, they opt into an advertising, right? When it comes from Facebook, Instagram, they're opting into advertising requesting information, they don't know anything about you, it's not a referral. So you're going to need to warm them up a little bit, get to know them, what are their needs, you know, ask them questions. And then that way, you can actually present your services to them. So with a cold lead, you have to build that relationship of trust first, got it.
Keenan Jones 07:25
So if if a new credit repair business owner they take, take the first steps of like, building their business going into their, their audience of their friends and family to get some case studies. And then they're like ready to go and work with an agency like yours, yourself? I'm curious, what are the biggest misconceptions about working with an agency like yours, and one of the things that people think coming in but aren't, aren't necessarily true.
Deanna Knowles 07:51
So what happens is when they when they work with or partner with a marketing agency, they think that we're going to change their business. And that's it right, it takes time. So with any business that you're building, whether you're doing referral marketing, it's going to take time, and with marketing, it's not something you want to do one month and be done the next, what you're doing is building your sales pipeline with the leads that we're generating. So you want to make sure you can consistently have lead flow, which means you have to have a good investment on the front end, right. So you have to make you have to understand that marketing takes some type of investment on the front end, so you can build your sales pipeline on the back end. So for example, if there's a new business owner just getting started, they have to understand that leads take time to nurture, right, so let's just say someone asked for information through an advertising today, they might not be ready to go next week, verse until next week, versus a hot lead that comes in because you can, you know, get them as a client right then and there. So with the leads that we're generating, they have to understand that it takes time, but time is what's exponentially going to grow your business and scale it in the future.
And talking about like investment in someone's business, like, I'm curious to know, like, because you're working with a lot of different businesses all across the country, like what is typical costs to get a lead in? Like, how much should someone expect to pay if they're just getting there? Maybe they're just getting their business off the ground? There. They're not looking to do a million dollars a year, but they're just they're looking to get their first consistent, maybe 100 clients in their business? What would you expect for them to pay per lead? How much would you expect for them to pay online and internet advertising?
Deanna Knowles 09:32
So it depends, right? Because with Facebook's changes becoming totally different now, right? So there's our Facebook algorithms that we obviously can't control. But the goal is to obviously get the cost per lead down. So with the famous group, we can get the cost per lead down anywhere from five to $8 On average, which is good because some sometimes it goes above $8. So as a marketing agency, our goal is to make sure that on the back end where the advertising is optimised to a point where we can stay between five and eight because if we can save between five and $8, we can generate the client more leads. So for someone that's just getting started, I would recommend a budget of $25 a day, which is about 750 a month. We also when we talk with potential credit repair businesses, we go into detail about, you know, their ROI calculator. So their return on adspend calculator based on where they are, and how many clients they want to get. So we always ask the client, what is your budget, that is the number one thing I will ask any credit repair business owner that wants to partner with an agency is having marketing budget, anywhere from 750 a month minimum honour, because you do, like I said, have to spend money on the advertising side to generate those leads,
Daniel Rosen 10:43
what's the best way to nurture these leads until they become a client.
Deanna Knowles 10:47
So what I would recommend is, you know, obviously, with us, we already have all the automations or friends. So let's just say someone opts in for advertising, we immediately tell them, hey, you should reach out to them, you know, call them introduce yourself. So as soon as the lead comes in, within five minutes, call them, because they can go, they can get cold really quick. So you want to make sure when the lead comes in, not only as our text message, email automations going out, put a familiar face, put a familiar voice to it, stand behind your company call that lead saying, hey, you know, I saw that you requested information about our services, I'd love to get to know you. That's the number one thing that sets you know, the businesses apart, is the fact that they get on the phone quick. So it's you know, the faster you get on the phone with them, the faster you can build a relationship and have them become clients.
Daniel Rosen 11:36
And you mentioned having all the automations in place. So you're actually creating the drip email nurture sequences and all of that.
Deanna Knowles 11:45
Yes, we are. So we create all the sequences on the front end the text message automations that email automations. Let's say someone doesn't book an appointment, we have automations that God as well. So they get text message emails probably once or twice a day, and then throughout the week, we're dripping on them. And believe it or not the automations get them to reply and book an appointment with our clients.
Daniel Rosen 12:07
Absolutely, I those automations are how we group rhetoric. 1000s of fishing lines all reeling in.
Deanna Knowles 12:16
And that's it, that's exactly what it is, you have to make sure you're touching them on all angles, you know. So that's the one thing that I would recommend just not just having the automations in place, which is part of the system, it's having that human touch what I like to always say is automated by software optimised by humans. So that's what I like to say, you know, the software can only automate so much, but we optimise the entire system by getting that human touch involved.
Oh, I'm curious, like, what the human touch part? Like what parts would you say? Would you recommend to automate? And what parts would you recommend to actually have someone step in and take the conversation to the next
Deanna Knowles 12:52
step? So basically, you want to get involved, the human touch is after the first initial automation goes out, right? So you want to make sure that as soon as the automation goes out, you call them. And also when the automations go out, and they respond, get on the phone right away? Because a lot of the automations that we send out actually entices the lead to respond. Yes, I'm still interested as soon as someone says, Yes, I'm interested get on the phone. That way, you're not going back and forth to through text message.
Keenan Jones 13:24
I'm curious to know to like when so jumping back to like generating the first leads for the business there. You're starting to generate a tonne of leads for them. Let's say you're generating 100 leads a month? What should a credit repair business owner expect to convert? How many of those leads should they convert into a client? And I know sales processes could vary depending on how good someone is at that process. But like what do you typically see with companies you work with?
Deanna Knowles 13:53
Yep. So out of the leads, we typically say 30% of the leads that we generate turn into qualified credit consultations. So out of those credit consultation, they can close roughly about 30% of those 30 to 40% of the credit consultations, and then the rest will be following up with. So that's also why we say you have to have a follow up system on the back end, where you know, the rep the credit consultations, or his sales team are going in there and building that relationship because the better relationship you build, they'll be able to remember you and want to do business with you.
So you're saying about 30% of people are potentially qualified for even credit repair that you generate leads for, and then about 30% of those will actually could could potentially convert to a client, typically.
Deanna Knowles 14:39
Right? So for example, let's just say we have we generate about 200 leads, right so for example purposes, regenerate 200 leads 64 of those will be converted into credit consultations, meaning they've met the qualification filters based on what the client sets out of those 64 credit consultations. 19 to 20 of those would become clients. So out of those 64 years up roughly 19 to 20. And then the remaining 44 Of those, you're gonna be following up with them. And then the rest of the 200 leads, they're gonna nurture until they become, or they become qualified to be in a credit consultation,
Keenan Jones 15:14
or cool it just puts emphasis on, you really need to generate a lot of leads to grow your fan base.
Deanna Knowles 15:20
Exactly, exactly. It all ties down to the ad spend. And that's one thing as you know, they, they want all these clients, but they have to play the numbers game as well. And it all starts with the amount of money. Um, you spend into marketing.
Daniel Rosen 15:33
Right? And the importance there of the follow up that you have a lot of people think you put an ad, you're going to get a client and it doesn't work that way.
Deanna Knowles 15:41
Yeah, it doesn't work that way. A lot of people think once you put an ad on there, okay, they're gonna come and they're ready to go. That's not the case. You know, you have to like I said, you have to work the lead, warm them up, and then, you know, meet with them to potentially get them as a client, you have to build that trust sales is all about trust.
Daniel Rosen 15:58
Sure. Plus building that home. Exactly. Home. Yep.
Mm hmm. Yeah, well, I'm curious too. So like, business owner starts starting to get leads coming in. But then what are some of the biggest roadblocks from going from the golf business, they just quit their nine to five there, they got a groove going to scaling their company, well, their biggest roadblocks you see with that,
Deanna Knowles 16:23
not being able to convert them, right. So it goes back to cold lead versus hot lead. That's why I said they have to build a foundation, first of at least a Referral Engine, and have a Referral Engine on top of a lead engine like ours, because you want to make sure that you have two engines going right. So the referral and the lead generation, because you always can't, you don't want to rely your entire business just based on referrals. And you don't want to have your business just based on marketing. So you want to make sure you have a balance. So when it comes to someone that is doing full time credit repair, like I said, they have to make sure there's a budget set aside, they have a system in place to nurture the leads on the front end, they have a follow up system in place, as well as understanding how to talk to these leads that we're generating.
So you're talking about two different systems generating leads, and I'm sure you specialise. Your agency specialises in that, like paid media going buying ads on Facebook, but then also, you're talking about referrals as well. Do you have any recommendations on how a company would put a referral system in place? Yes,
Deanna Knowles 17:25
so they just like I said, Somebody knows somebody, right. So a lot of our clients, they start with their closest friends and family, someone's gonna know realtor, someone's gonna know mortgage broker. For us, when a client actually becomes a client and hires our agency, once they actually start generating leads as well and to become a client or they have a lead become a client, they ask for referrals. So they'll send out you know, hey, if you were for five people, etc, so they'll have a referral on the back end on top of the leads that we're generating. So they use our marketing system to generate the leads, get the clients and then have the clients who are for them and tap into their market as well. So that's what we also recommend is not just generating leads, or not just using our leads to get them clients, but to also build a Referral Engine on the back end. So through your warm market, and then through the leads that we're generating as well, you can say, Hey, who do you know, that could use their services? If we refer them, we can definitely, you know, we can figure something out?
Are there any type of offers that you recommend companies put in place? Is it just, hey, you like my services? I want to, they want to spread to more people. And you just simply ask them, Hey, do you have any friends to refer? or do any offers that you put in place to provide those referrals?
Deanna Knowles 18:42
Yes, so what we like to do, I mean, some of our clients, they could do strive for five, or, Hey, if you refer five clients, you get a month of service for free on us. Or if you were for people, we can get 1010 20% off your monthly services with us. Just anything that's gonna allow them to get referrals, and it helps them obviously, on their bottom line. It's the business owner that has to come up with it. But we do you know, we kind of coach them on what works with some of our clients, and what's going to be able to work for them as well.
Daniel Rosen 19:11
I want to know what how to to learn all this. Before that you're so good at this. What's
Deanna Knowles 19:16
your background? So I was in marketing and sales since 2010. So that is my background. I've been doing marketing and sales for quite some time. And then we just decided to you know, pivot in 2017 was strictly focused on financial services, because we know there's a need for it. And we know that a lot of credit repair businesses not only need help generating leads, but they also need help on the part of developing them into a potential client, right. So that's where we come into places. We don't just we're not just here to generate the leads. We want to make sure that as a new business owner, you can come to us we can help you from our starter package and scale your company up and we've had clients who have been with us since they stopped they started Credit their credit repair business, they've called and said, Hey, I just finished a credit hero challenge. And I want to take my business, you know, to the next level. And we've coached people on that. And that's the benefit of partnering with a famous group is, we want to make sure we want to hold your hand through the process of scaling your company, because we know it's not easy. So we're there to help you every part of the way and kind of coach you and guide you, and kind of train you on what it's like to partner with an agency to nurture the leads to have a system in place, we built all of that for you. And you also have some guidance from us on how to actually deal with these type of leads that we're generating. Because like I said, it is very different from hot, warm referrals. And that's why we like to coach our clients on how to actually deal with the leads, and you know, nurture them along the way.
I'd love, I'd love to know a little more about all the packages that you have with. So if credit heroes listening, and they're like, Hey, I'm ready to take the next step. What does it look like working with you, from someone that maybe is just taking their next step in their business, starting with like, just getting their business in the Start stage? But then also like, what do you offer for someone that maybe needs to scale as well?
Deanna Knowles 21:15
Yep, so we do have three different packages. And we also do have a website that kind of explains everything with the little explainer video as well. But we have three packages. The first one is our starter package, where it's just for someone getting started, right, so they can get their feet wet in the marketing industry. So we that is a one time setup where we put in our best performing campaigns in your ad account. And then what we do is we build all the automations, we build a lead generation funnel for you, and we build everything out for you within the scale CRM, we will onboard you too, so that you understand how to use the CRM, and that will turn the ads on for you. So our best performing ads are set up in your, in your Facebook Ad Account, we'll tell you exactly how to use the CRM and we'll look we'll tell you how to we'll tell you basically the basics of what to do so that you know how to nurture the leads and how to talk to them. And we also give you a script when you become a starter client, because that's a lot a lot of credit repair. Business owners ask us that, hey, what do I do when a lead comes in, I got all these alerts, I have like five leads today, what do I do next. But like here, this is what you're gonna do call them, here's the scripts, you know, just so that you kind of can get your feet wet. So that's the starter package, there's no commitment on that one, we don't require minimum adspend, just based on what you're comfortable spending on marketing. We recommend $25 a day to get enough leads. But you know, you could go lower than that. But like I said, the more you spend on advertising, the more leads you can generate. So that's our starter package, the only thing you're paying for monthly is the CRM cost. And then the growth package is our full on advertising system where everything's customised with the ads, we you know, we use your videos, we use your images on our landing pages, you have access to us real time, via text and slack. So that's our growth package. And then our pro packages, we're handling our advertising, and you also get a lead development representative on your accounts, where they are handling all the leads that we generate for you. So the pro package is we're actually generating the leads for you and our call centre that we have is the one actually vetting all the leads and pre qualifying the leads so that you can spend your time building relationships with the qualified prospects. Right, so our call centre are the ones calling them doing all the outbound doing the outreach, qualifying them based on your specifications, once they're qualified, we booked them into meeting with the credit repair business owner where the credit or business owner will be able to build that relationship with them and go over their credit report. So that's the pro package. So we kind of have everything in there. It's an entire system where we have the marketing and the lead development representative on your accounts. So the only thing you have to focus on is building that relationship with your potential clients.
Keenan Jones 24:04
Oh, that's, that's awesome. What what type of results have you driven for companies? Are there any case studies you can talk about?
Deanna Knowles 24:12
Yeah, we have a few. I mean, if you've on our website, you can actually see them. We've actually helped scale a lot of companies to six, seven figures. And there are some of our clients who like to remain anonymous, unfortunately. But yes, we do have credit repair. We have actually testimonials on our video, we've done interviews with some of our clients as well. And then we've actually helped people scale to a six seven figure credit repair business and they win they just got started in the industry.
Daniel Rosen 24:38
Awesome. And what is the URL of your site that people can people can visit.
Deanna Knowles 24:43
It's the famous group.com forward slash CRC and famous is FA MLS.
Daniel Rosen 24:50
Let's switch gears and we're going to go and do a rapid fire round of questions where you answer the first thing that pops in your head. Okay, more and more about you Okay, are you ready?
Deanna Knowles 25:01
Daniel Rosen 25:02
What's the most important lesson you've learned as an entrepreneur?
Keenan Jones 25:06
Ah, man, patience. Good one.
What's your biggest superpower
Daniel Rosen 25:11
Deanna Knowles 25:13
Oh, it's my biggest superpower negotiation? Hmm,
Daniel Rosen 25:17
what does business ownership mean to you?
Keenan Jones 25:20
Daniel Rosen 25:21
What drives and motivates you?
Deanna Knowles 25:24
Hmm. What drives and motivates me? That's, that's a good one. I think family and having freedom.
Daniel Rosen 25:30
I like that. I like that. What's your definition of success?
Deanna Knowles 25:34
So my definition of success is where you basically can have the time freedom that you want not having to worry about anything.
Daniel Rosen 25:41
Awesome answer. And finally, if you could go back in time, what do you know, now that you wish you had known when you first started?
Deanna Knowles 25:50
Wow, these are good questions, Daniel. Thank you. I will say that everything takes time. And, you know, if I knew what I know, today, I think I would have just done things a little quicker, because I feel like the timeframe in which someone does something, you can speed up the learning curve. If you just learn a little faster, you go through all your mistakes quicker. Because I feel like anybody can be successful. Honestly, it's just the timeframe in which you want to achieve it. And I believe that if you want to become successful, obviously, there are roadblocks and things that you have to do in business. But if you speed it up, you can get there quicker.
Daniel Rosen 26:30
Absolutely. And to not be afraid of making mistakes. Exactly. That's how you grow. That's how you learn. The faster
Deanna Knowles 26:36
you make mistakes, the faster you can get there. Because there's a lot of mistakes that we've I've made as a business owner, that's for sure. But you learned from them.
Daniel Rosen 26:46
Deana, this was awesome. Thank you so much for being here.
Deanna Knowles 26:51
Thank you for having me.
Daniel Rosen 26:53
And before we go, tell us one more time. How can people learn about your services? Where can they go?
Deanna Knowles 26:59
You can go to the famous group.com forward slash CRC and famous is spelled F eight MLS.
Keenan Jones 27:07
Great. Well, thank you again for being on. We really appreciate it. And thank you for serving our community to Yes, thank you. Appreciate it. Thank you so much.
Daniel Rosen 27:17
And have a great rest of your day. And thanks for your time today. Thank you, you too. And everyone out there. If you are enjoying this podcast, be sure to click below to subscribe, so you don't miss any of the secrets that we share each week here on the credit repair business secrets podcast. And if you're feeling kind, do me a favour and rate me give me a thumbs up, leave a comment or ask a question, because I read each and every one of them. And I will see you on the next episode. And until then be a credit hero and keep changing lives. Hey, everybody, it's Daniel again. And really quick, I'd like to invite you to join what I believe is the best thing we have ever created inside the Credit Repair Cloud Community. And it is a challenge that we call the Credit Hero Challenge. If you're just planning out your business, or you're just getting started, and you dream of having a successful business of your own. So you can quit your nine to five and fire your boss and have financial freedom or so you can add another revenue stream to your existing business. If that's your dream, you need to get into this challenge. We created this challenge to help you to create and launch your very own credit repair business to build a proper foundation for a really successful business. This challenge is going to help you to understand the strategy, the tactics and all the things you need to be successful at credit repair. It really is the greatest thing we have ever built, and it will change your life. So I recommend you do it right now. Stop everything, pause this audio, go online and go to creditherochallenge.com That's Creditherochallenge.com and join the next challenge and there's a challenge that starts in just a few days. So go get started right now at creditherochallenge.com