Coinciding with AR Map 627-1:
Contents:
- Dream 100
- Story Selling
- Guarantees, Risk Reversal, Referrals
- Networking and Engagement
- Lead Generation
- The Strategy of Preeminence
- Stealth Marketing
- Lead Conversion
- 20 Marketing Mistakes
- Scientific Advertising
- Barter
- Leverage Points
- Three Ways to Grow a Business
- Trust
- Joint Ventures and Strategic Partnering
Warning: USE AT YOUR OWN RISK: Designed for internal use only. Fall for that Peter Drucker bullshit at your own risk; about a company having only two purposes. Marketing is for Pu$$Zs. Real entrepreneurs, the 2% poised for growth, optimize their system first…
…Effectively allowing their Raving Fans to do their marketing for them. Word of mouth advertising is priceless. Instant trust need not cost a dime. If you don’t have 8-10 well orchestrated referral processes, shame on you. My tip: Get your house in order first. I can help.
The rest of you 98%ers: Just remember: “Optimize, then Innovate.” “Operations before Marketing.” Why? Do you know the root cause behind the 70% failure rate of companies who focus on growth over systemization? Start at STEP 1
You are here: Improving.biz > More > Marketing
Need a Marketing Consult?
200 questions. 4 sessions.
Rev Share, Equity, or VIP Clients only
Step 1: Think Different:
Dream 100:
page 102, 171 Ultimate Sales Machine
Story Selling:
Story Selling: 1. Where did you come from (that shaped and formed you)?
2. What are you doing now? Why is it important? Why should I care?
3. Where are you going in the future? What is your vision?
Guarantees, Risk Reversal, Referrals (ONE strategy)
Networking and Engagement:
Lead Generation:
See map (link coming soon)
The Strategy of Preeminence:
The Strategy of Preeminence. Jay Abraham. I have his library. This is what it all comes back to: TSOP is at the heart of our conversation. It is about being seen in your market as the most trusted advisor for life. To make a profound and sustaining difference in the lives of your clients:
NOTE: You have three sets of clients under your service, only one of which pay you. You pay the other two. The first one is your team members and staff. If you do not fall in love with them, if you do not want for them the greatest outcome, the greatest growth, the greatest achievement, the greatest satisfaction, the greatest happiness, the greatest purposeful, the greatest happiest families, their families to be the richest they can be both in monetary terms and in emotional and psychic terms, then guess what? Then the chain of congruency is broken. They cannot be a lever or an extension of your big vision, can they?
Same thing with your vendors. You want them to be successful. They should not get more on you than they should, however, instead of hammering them down, do they see you as their greatest advocate and greatest admirer? Do they think of you first? Are they constantly coming up with solutions, improvements, innovations, breakthrough ideas for you?
There are four categories of clients:
- Those that pay you
- The ones you pay – your internal team
- Your vendors
- Your professional advisors
Stealth Marketing:
- Fully utilize your current and past customer list
- Stop spending so much on ineffective advertising
- Follow up with your prospects, and keep following up
- Risk reversal
- Bump and upsell, using a handy phrase to upsell your customers
- Sell, then sell again
- Host-Beneficiary relationships, joint ventures, strategic partnerships
- Use your competitor’s resources – and profit
- Offer extended guarantees and incentives
- Lock in sales in advance
- License your successful concepts
- Break even on the front-end
- Test your prices
- Reposition yourself as an expert in your industry
- If you know of a company going out of business, buy their customers and the right to fulfill on orders
- Decrease your overhead
- Do not burn your bridges
- Avoid the ostrich theory of marketing (“my customers”)
- Write only direct-response ads or sales letters
- Write headlines that pull
- Analyze your results
- Do not put all your eggs in one basket
- Get your customers to give you referrals
- Recognize and identify your hidden assets
- Telemarket your customer list
- Lock in sales in advance
- Test your sales pitches
- Understand what your customers are worth to you
- Barter
A similar list in different order:
- Referrals
- Acquire clients at breakeven
- Guaranteeing purchases through risk reversal
- Host-beneficiaries
- Advertising – pay for results
- Direct mail
- Telemarketing
- Special events
- Acquiring lists
- USP – Unique Selling Proposition
- Increasing perceived value of your product
- PR – Public Relations
- Exceeding expectations – and making sure they are recognized
- Frequent communications
- Increasing sales staff skill level
- Upsell, cross-sell
- Point of sale promotions
- Complimentary products
- Increase pricing
- Becoming more up-market
- Offering larger units of purchase
- Back end
- Personal communication with clients
- Endorsing OPP (other people’s products) to your list
- Special events
- Programming clients (TSOP)
- Price inducements to increase frequency of purchase
Lead Conversion:
see map
20 Marketing Mistakes:
- Not testing all your marketing ideas
- Test every variable you can think of, allowing the data and results from paying clientele only, to determine what does and does not work
- Running institutional or branding advertising, that lacks a specific call to action
- Run only direct response advertising, providing a specific response you can measured (and improve)
- Not articulating and differentiating your business
- Develop a powerful and unique selling proposition (USP) and use it in all your marketing efforts
- Not having back-end product or service
- Create a systematic process, a series of sales that lead up to a highly profitable “back end” sale
- Not understanding your customer and their needs and desires
- Always determine and address the true needs of your customers and prospects
- You must ‘educate’ your way out of business problems… you cannot just cut the price
- Always recognize that you must educate your customer as a part of the marketing and sales (education based marketing)
- Not making doing business with your company easy, appealing and fun
- Make doing business with your business easy, appealing and fun
- Not telling your clients the “Reason Why”
- Always tell your client the reason why they should take the action you are suggesting
- Terminating marketing campaigns that are still working
- Do not stop marketing campaigns that are still working – just because you are tired of them
- Not specifically targeting your marketing
- When you prepare your marketing, focus on the intended prospect and no one else
- Not capturing prospects, their email and physical addresses, and other pertinent contact information
- Capture everything you can on a prospect and client in an organized, retrievable system – this data is invaluable
- Not being strategic
- You always want to have a strategy which your tactical actions and methods tie in to
- Not having a marketing or sales system
- Have a marketing and sales system in place and refine it continuously, which includes following up with clients and prospects
- Not taking advantage and integrating the Internet into every aspect of your marketing and sales efforts
- Integrate the Internet into all your marketing and sales activities
- “Shooting from the hip” in sales situations
- Constantly use and refine a sales script
- Being stuck doing “what works”
- Always be open to new ideas, be willing to change and look outside your industry for clues
- Not reinvesting your profits
- Always parlay your success and momentum into greater business achievement
- Not knowing and leveraging the lifetime value of a client
- Always understand the lifetime value of your clients (LTV)
- Not maximizing your assets, relationships, opportunities, resources, etc.
- Always explore, and optimize your resources, assets and opportunities
- Testing marketing and sales as operational “silos”
- Do your best to integrate marketing components into all your operational and backend processes
Dan Sullivan’s eight biggest mistakes entrepreneurs make:
- They have no vision
- Hire the wrong employee
- Not spending enough time with your people
- Not knowing your customer
- Not caring enough
- Not knowing your core purpose
- Not knowing your numbers
- Not crystalizing roles and responsibilities
Scientific Advertising:
Major boring, but you get the idea (and the overview):
The six legends of original source:
- Claude Hopkins
- Robert Collier
- John Caples
- David Ogilvy
- Gene Schwartz
- Gary Halbert
Barter:
Dave Wagenvoord and Ali Pervez: No Cash, No Problem
Leverage Points:
show 56
Three Ways to Grow a Business:
- Increasing Your Number of New Clients (Inquiries and Lead Generation)
- Increasing Average Transaction Value
- Increasing Transaction Frequency
Three advanced ways to grow a business:
- Penetrate new MARKETS every year.
- Introduce new PRODUCTS/SERVICES every year.
- Purchasing your competitors’ BUSINESS or assets every year.
Three ways to grow a business overview:
One: Increase Leads & Inquiries Through:
- Referral systems.
- Acquiring clients at break-even up front and make a profit on the back-end.
- Guaranteeing purchases through risk reversal.
- Host/beneficiary relationships.
- Using direct mail.
- Using telemarketing.
- Running special events or information nights.
- Acquiring qualified lists.
- Develop a Unique Selling Proposition.
- Increasing the perceived value of your product/service through better education.
- Using public relations.
- Increasing sales skill levels of your staff.
- Qualifying leads up front.
- Making irresistible offers.
- Educating your clients by giving reasons why.
- Delivering higher-than-expected levels of service.
- Communicating frequently with your clients to “nurture” them.
Two: To increase your average transaction value, focus on:
- Improving your teams’ selling techniques to up-sell and cross-sell.
- Using point-of-sale promotions.
- Packaging complementary products and services together.
- Increasing your pricing, hence your margins.
- Changing the profile of your products or services to be more “up market.”
- Offering greater/ larger units of purchase.
Three: To increase transaction frequency, focus on:
- Developing a back-end of products that you can go back to your clients with.
- Communicating personally with your clients (by telephone, letter, etc.) to maintain a positive relationship.
- Endorsing other people’s products to your list.
- Running special events such as “closed door sales,” limited pre-releases, etc.
- Pre-framing or programming clients.
- Price inducements for frequency.
Trust:
Joint Ventures and Strategic Partnering:
Note:
If reading seems like a lengthy process, may I remind you that we are playing this game for life. As Banana Hands says: “Reading is a way of compressing decades of knowledge into days.” In other words, the following authors have dedicated a lifetime acquiring specialized knowledge. They have proven their competence, capability, contribution, and leadership. Then, they spent years condensing their knowledge into a format that you can easily acquire – rather quickly, by comparison. Now, if books still pose too great a burden, you may want to consider their counterpart – Audio Books – which you can listen to using “NET” (No Extra Time), such as when you are commuting, exercising, or performing any “downtime” activity that occupies your body, and not your mind. Either way, if you want to grow, you must feed your mind…
Related:
Unique capability: The best companies are led by those who operate as if the enterprise is an extension of themselves. In other words, they are doing what they are good at, they are focused on their talents and what they enjoy doing – plugging their unique ability into a business system focused on strategy, marketing, innovation, management.
Example of Scary Marketing: Taking advantage of people’s desperation:
‘Diaper Dude’ taken for a $200k ride after investing in people with empty promises:
A marketing company produced little more than this concept that nearly crippled Diaper Dude selling a diaper bag made for Dads. The company’s design to revitalize Dude’s business: They named it:
TRUE DUDE
What’s a True Dude?
He isn’t scared to LOVE or cry or even feel.
He chooses Action every single time.
He has flaws, as we all do.
But he doesn’t let them win.
wtf?
#BeAtrueDude #jointhemovement
(The Profit with Marcus Lemonis; Season 5, Episode)