Scott Selected To Moderate Two Day Top Chiropractic Event
The PointOne Conclave Event was held June 1 and 2 at Parker College. The group is made up of the…
How to Slash Your Marketing Spend and Increase Results Without Spending More Money [Part one]
Leveraging Profit Maximization In Order to Accelerate Your Sales Growth
At a live Internet Marketing Event I conducted a 90 minute workshop for the 600 attendees… from around the world. The audience survey results, over $32 Million in added profit by optimizing their current customer and prospect profits…without spending any money!!!
Now $32M should be reason enough to want to focus on optimizing profits (95% of the attendees said they uncovered at least $10,000!). Yet most businesses choose to want to focus on getting more customers… even though most have way more upside from optimizing their current business.
Therefore, I thought I would share 3 Keys of Profit Maximization over the next few blog posts.
The “Problem” With 97% of Referral Systems
We have all heard that Referral Marketing represents one of the lowest cost and highest-leverage strategies on the planet. Why? The answer is simple. The cost to obtain a new customer from outside marketing is 500% to 1000% more expensive than a referral customer. Business owners can increase profits by 10% to 30% with an effective referral program.
But There is a BIG Problem
Unfortunately, this powerful business building strategy has been nearly put to death by many “business trainers” that touted its merits without teaching the HOW. As a result, business owners routinely make 15 common, totally avoidable, mistakes that keep them from having a continuous stream of high quality referral customers every month.
The Key is to “Activate” Your Customers
The Buyer Decision Drivers Part 2
In my last post I shared the first 4 of the 7 buyer decision drivers.
Here are the final 3.
BUYER DECISION DRIVER #5 – Create “extraordinary value.”
Have you ever shopped for something and found yourself looking for the lowest price? Ever wonder why? As we stated earlier, all human beings, no matter who we are or what we do, we all want the best deal. But what is the “best deal?” Is it really the lowest price?
There’s that old saying that you get what you pay for. Would I shock you if I told you that your prospects could care less about price? They shop price because they’re forced to. Let me explain. What prospects really want is the best “value” for the price they pay. They’re more than willing to pay double the price if they perceive that you’re giving them four times the value. Now they know they’re getting the “best deal.”
So then why does price seem to matter so often? It’s because so few businesses are actually “unique.” They all look the same… and they all say the exact same things. They say things like “we’re the best, we have the lowest prices, the highest quality, the best selection, the most convenient hours and locations and we’ve been in business since 1431 B.C.”
We call these platitudes, and they mean absolutely nothing to your prospects. That’s because everything just mentioned was about the business, and your prospects don’t care one bit about your business. All prospects care about is themselves. They want to know how they will benefit from what you sell. How will their life improve if they purchase your product or service? (more…)
The Buyer Decision Drivers Part 1
There are 7 buyer decision drivers every business must understand to become successful today. Fail to do these and you will never build the business of your dreams.
It’s critical that you commit these to memory. They’re based on fundamental human nature… and will be as applicable 100 years from now as they were 100 years ago.
BUYER DECISION DRIVER #1 – Everyone wants the “best deal.”
Your prospects, no matter who they are or what it is they’re buying, always want the best deal. That doesn’t mean the lowest price… it means the most value for the price they pay. They will gladly pay twice the price… as long as they perceive they’re receiving four times the value when they compare it to the price.
The key words here of course are “perceived value.” So what exactly do prospects value? They value finding the solution to their biggest problem, frustration, fear or concern. And that brings us to…
