Quiz… Which Way is a Better Way to Spend $1,000 on Marketing?

If someone gave you $1,000 and gave you the choice of…

  1. Sending out one postcard to 2,000 people that fit your demographic
  2. Sending out a series of 10 cards to 200 people that fit your demographic

Which would be more effective?  Option one, where you touch 2,000 people?  Or, option two, where you touch 200 people 10 times each?

Nothing beats frequency!  Very few people buy on the first touch.  The average number of touches to make a sale is 7 or 8.

So, given the choice of multiple mailings to fewer people… or one mailing to a lot of people… you will always get a much higher return on your marketing dollar using the multiple mailing method.

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Do This and Watch Response Rate Go up by 400%

This technique is absolutely proven to work.  A firm using this technique got a 12% response rate… but that’s NOT the good news… 4.4% actually became appointments in the office!  How’s that for a direct mail response?

What did they do?  They called BEFORE the prospects got the direct mail.  Now, before you whine about how hard that is… there are services that charge about $50 an hour to make all those calls for you.  Does that add to the expense? Sure… but how much would you pay to send out 100 pieces in the mail and get 4 appointments from it?

Calling before the mail arrives, reduces the chances that it gets thrown in the garbage before it’s even opened.  If you have something people want… ya gotta at least get them to open the envelope… and this does just that!

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Focusing on These 6 Things Will Put Your Marketing and Sales on Steroids

What makes people do things?  In this 5-page guide, you’ll not only identify the 6 things that get people to do things… but more importantly, how to leverage them to increase your sales and income.

Download it here… courtesy of 5Q Group.

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Want a Technique to Get Virtually Everyone to Call You Back?

Want a Technique to Get Virtually Everyone to Call You Back?

Do you have a big prospect that won’t call you back?  Or did a large case ghost you, instead of coming in to sign paperwork?  That can be extremely frustrating.

Here’s how you fix it.  Cut a $20… or $50 dollar… or $100 bill in half.  The dollar amount would be based on how much you want to land the case.  Let them know you’d just like to spend a ½ hour with them to give them the other half. This leverages two powerful human emotions…

  1. Greed
  2. A compulsion for completion. We do not like things left undone… movies unfinished… a game unfinished… a list not completed.  Being presented with a bill that is not complete really bugs us.  It needs to be put back together… the world is not right with the two halves split apart.  Silly?  Yes, but that’s how most people react!

Or a more humorous use of this technique… Buy an inexpensive walkie talkie set… and mail them one of the walkie talkies and let them know you’ve been trying to reach them but the walkie talkie must be broken and you’d like to stop buy with the other one to check it out.

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4 Ways to Make Your Marketing Finally Work

People are hit with hundreds of marketing messages… every.single.day.  How do you cut through the clutter?  You must be different.  Here are 5 ways to do just that…

  1. Shock the client and your rival!
    • Have this statement on your website, “Would you rather work with a firm that chooses to remain small to know each client as a person… or, a large firm with thousands of clients?”
    • Put this in the form of a question… and if they choose the large firm—here’s the shocker—have it hyperlink them direct to Merrill Lynch, Ed Jones, or any of the other big guys of your choice.
    • This points out to the client the big difference between you and the huge firms without having to slam your competitors!
  2. Invite a ghost to dinner
    • Invite some great clients to dinner… along with some great prospects… but YOU DON’T ATTEND. Instead, have a spouse, client or friend “host” the dinner party. That way…
      • There’s no sales talk
      • It turns your clients into informal sales reps
      • And it builds loyalty with current clients
      • This process works surprisingly well for high end clients
  3. Give yourself a public kick to your own heinie! People love to see other people’s mistakes… and they like people that admit to them.
    • Talk about something you or your firm did wrong… and what you learned from it.
  4. Dare to be less professional. All your competitors look the same… why not be a little wild and crazy?  As an example… their was a huge industrial fan company named HVLS, Inc.  Ever hear of them?  Probably not.  They changed their name to Big Ass Fans.  Their sales instantly skyrocketed and have been going up year after year for a decade.
    • Dare to use a little irreverence. People smile and remember you!

What’s the one common characteristic running through all 4 of these ideas?  Be different!  You’ve got to be different to stand out in the commoditized financial arena!

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Get in front 52 new people in 2018 for $10 a Week

Need a simple, easy… and cheap way to get in front of people who want to meet with you?  The trick is to spend just a couple of hours a week… consistently… doing a couple of simple and easy tasks… and by the end of the year you’ll have more appointments than you’ve had in all of 2017.   The key is to do it consistently!

Want to know how?  Here’s the 4-page guide on how to get Inexpensive, high-quality leads… courtesy of 5Q Group.

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Are You Answering the Right Question? This tweak can double your effectiveness

Our prospects are more skeptical than ever. They are hit by hundreds of thousands marketing messages each year… all promising more than the last.  How do you break through their skepticism?

A study in Harvard Business Review gives us some help.

First… DON’T pile on benefits.  You would think the more benefits the better… but in actuality adding more benefits actually dilutes the power of all the benefits.

Instead, find that one thing you do better… and different… from all your competitors.  You can do this by thinking like a client.  This is the question you need to answer:

What is the MOST important thing to keep in mind about what you are proposing?”

By focusing on this question, you’ll be able to create a much more effective Unique Selling Proposition because…

  • It will put a laser-like focus on the one or two things that make you different from your competition.
  • It will prove you understand the client’s real pain.
  • And it recognizes that people don’t have time to do a lot of research… they just want the bottom line.

To construct your answer to this question, think about structuring it around three points:

  1. How are you similar to your competitors? —By doing this you remove any arguments that your competitor is making about how they are different or better than you. You make the point, “Yeah, we do that too.”
  2. Make a point of how YOU ARE different. What are the one, two or three things that you do… or offer, that none of your competitors do?
  3. Make a point on how you view the client experience differently than all your competitors.

You must get to the point where the client no longer thinks, “Yeah, my guy does that too.”

And instead says, “Wow, nobody does that!  I need that!”

If you do not put the time and effort necessary to really lock this down, you will forever be just another voice… in the crowd of voices, screaming for your prospects money.

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The Power of a KISS

People returning items is costly, so there has been a lot of research about the cause of all those returns.  Here’s what they found…

50% of all “malfunctioning” products were actually working just fine.  Buyers just couldn’t figure out how to work them.

The average American will struggle with a product for no longer than 20 minutes, before giving up and returning the item.

So, what is your take away?

  • How simple are your explanations? Would a 5th grader understand them?
  • How simple are your products? Could your client explain how it works to their son?
  • How simple are your solutions? Do you have 3 steps where one would do?

As advisors, many of us have been trained to make sure the client knows how smart we are… get more credentials… use more in-depth solutions… be creative!

It ends up, that is bad advice.  Make things simple.  Make things familiar.  People like things they understand.  They want to do things that are like what they have been doing.  Yeah, I know you could eke out a little higher return… or lower taxes by utilizing that fantastic new and creative technique you learned about.  But present it to the client, and it is going to remain theory, because they will not pull the trigger.

Sometimes you must abandon what would be absolutely the best solution for the client… and instead go with what they are willing to do.  It’s better for them than doing nothing at all.

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Light Up Your Christmas with New Business and Happy Clients!

The Holidays are upon us.  What are you doing to capitalize on them?  One thing that I did every Christmas Season is to invite all my clients and prospects on a Christmas lights tour.  It is always a huge hit!  It always paid for itself and then some.

If you’d like to know the How’s and Why’s of using this fantastic tool… download your free copy of the Christmas Lights Tour System Manual…Courtesy of 5Q Group

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This One Question Tells You Everything You Need to Know About Referrals

We all love referrals… they don’t cost anything, and they are much easier to get onboard.  So how would you like to predict how many referrals you’ll get next year?  Knowing this can help you in a couple of ways… first, how much you should be marketing… and secondly, whether you need to work on your ability to generate referrals.

One of the world’s foremost experts on Loyalty, Fred Reicheld, has spent 10 years analyzing the actual referring behavior, of tens of thousands of customers. To determine how many referrals you’ll get next year.

Here’s what he found out.  You have a calling service call your clients and ask just one question:

“On a scale of 1 to 10… 10 being absolutely… and one being no way…
How likely are you to recommend [ABC Financial Services] to
a friend, neighbor or relative?”

The reason for the calling service is so that the clients are comfortable answering with a 3rd party and anonymity.

Break down the answers given into the following groups:

  • Promoter’s—give answers of 9 and 10
  • Satisfied’s—give answers of 7 or 8
  • Detractor’s—give answers of 6 and below

Now, ignore the Satisfied’s… and substract the percentage of Detractors from the percentage of Promoters.  What do you end up with?  The companies with highly loyal clients score higher than 50%.  Companies with poor customer loyalty score in the 5% to 10% range.

Where does your firm stack up?  Guess how accurate companies were at predicting client loyalty?  Over 80% of companies believed they would be in the 50% or higher range… fewer than 10% of companies actually were.

You should only be counting on referrals from the people that answered 9 or 10… And you should be aware that you are in danger of losing anyone that answered 8 or below, because they will leave you when they find something better.

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