Oct. 8, 2024

How to Send a Large Direct Mail Campaign for Free

We go over the mechanics of sending large direct mail campaigns for free.

Powerful Business Strategies is broadcast live Mondays at 12 Noon ET Music on W4CY Radio...

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We go over the mechanics of sending large direct mail campaigns for free.

Powerful Business Strategies is broadcast live Mondays at 12 Noon ET Music on W4CY Radio (www.w4cy.com) part of Talk 4 Radio (www.talk4radio.com) on the Talk 4 Media Network (www.talk4media.com January Jones Sharing Senior Success is viewed on Talk 4 TV (www.talk4tv.com).

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WEBVTT

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The topics and opinions expressed in the following show are

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solely those of the hosts and their guests and not

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those of W FOURCY Radio. It's employees are affiliates. We

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make no recommendations or endorsements for radio show programs, services,

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or products mentioned on air or on our web. No

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liability explicitor implies shall be extended to W FOURCY Radio

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or it's employees are affiliates. Any questions or comments should

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be directed to those show hosts. Thank you for choosing

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W FOURCY Radio.

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Welcome to Powerful Business Strategies, where you will find out

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that everything you have ever learned about growing your business

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is wrong. Finally, a show where you'll learn the right

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way to grow your business by learning business and financial

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strategies that your competition isn't doing. And now here's your host.

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Resident of Next Step CFO Michael Barbarita and joining Michael

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for today's show as an executive moderator is chooky.

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Obia, Yes, yes, yes, this is chokey, and I believe

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that gratitude is undefeated and growth is about the next step.

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It is an honor for me to moderate today's discussion

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with my good friend Michael Michael, how are you.

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Great, chokey, how's it going.

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It's coding well, it's going well.

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Good, And as Cherkey said, my name is Michael Babarita,

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President of Next Step CFO, and Next Step CFO is

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a fractional CFO and strategic implementation firm. Our vision is

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to ensure overwhelmed business owners achieve the time, freedom, and

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consistent profits to build a legacy and the light they desire.

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Our mission is dedicated to guiding small business owners to

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leveraging their time, exploding their profits, and building that meaningful legacy.

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And the show Powerful Business Strategies in our book of

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the same name is a step toward accomplishing that vision

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and mission. So with that, I'd like to hand it

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back to my co author and moderator for the show,

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chuky Obill.

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Michael.

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It's truly an honor to collaborate with you. So today's

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episode fourteen. How energized are you about our episode fourteen?

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Sort of a milestone?

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Absolutely? Yeah, No, it's over over a quarter.

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There you go a quarter of a year.

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I love that you've spoken like a true strategic CFO.

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I love that.

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So look, the title of this episode is how to

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send a large direct mail campaign for free and direct

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mail campaigning. I mean this is really born out of

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a lot of interest from the small and medium sized

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business owners that we work with Coast to Coast and Michael,

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before we jump into the heart of today's episode with

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your insights, your leadership perspectives, I've just got to drop

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a really quick kind of disclaimer. So, look, Michael and

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I are affiliated with a number of different organizations, and

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I currently serve as the managing director of business development

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for Vetter Price, a global business focused law firm. But

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it's truly a personal point of privilege to get to

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collaborate with Michael. Really Coast to Coast we moderate a

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number of business roundtables, and we document the best practices

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from those roundtables, and we feature these best practices in

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our book, Powerful Business Strategies. But please note that the

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views expressed in the show are our personal views based

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on successful experiences that we've had, and as the fearless moderator,

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my job is really just asking Michael the right questions,

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to take notes, share those notes, and to help you

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and me really learn and start to implement the best

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business strategies that the competition isn't doing.

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So with that, Michael, I'll toss it back over to you.

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Thank you, Chocky. You know, Checky, We've been interviewing a

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lot of small business owners lately and they've been telling us.

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A lot of them, I've been telling us they have

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absolutely no marketing budget at all. Well, today we're going

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to help solve that problem for those business owners who

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are willing to do the work associated with the topic

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that we have chosen today. And today we're going to

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help you learn some interesting information about direct mail marketing

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and give you the ability to send direct mail to

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as many qualified prospects as you would like for free

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if you're willing to do the work. And one key

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to successful marketing is repetition. Why is repetition important because

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you never know where your prospect is on the buyer's journey,

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and it's mandatory that you position a compelling message with

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an irresistible offer in front of your prospects multiple times.

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Because of the proliferation of marketing. Yeah, and your prospect

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might be at the point you never know your prospect is,

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and they might be at that point in their journey

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with them ready to make some type of vendor selection

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and by the way, I don't want to just think

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I don't know people to think that I'm just throwing

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words around with respect a buyer's journey, a compelling message,

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and irresistible offer. You know, a compelling message, a position

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of market dominance, irresistible offers, or a buyer's journey. These

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are all concepts and strategies that we have spoken about

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many times in previous shows, and we have entire shows

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dedicated to those topics at Powerful Business Strategies dot com. Absolutely,

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but today experts now say it takes multiple contacts or

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touch points to establish sufficient trust, respect and rapport to

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get a prospect to buy what you sell. So how

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can financially strap small business owners accomplience seemingly impossible task? Well,

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most of them attempt email solicitations, and I think a

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lot of us know how difficult that is. And you

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know you better have a list that has opted in

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email addresses, otherwise you might be doing something illegal. And then, furthermore,

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when you think about it, most of us delete email

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without even opening it. And the only exception to this

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rule is to the use of joint venture partnership email

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lists and collaborations. And only then if your JV partner

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has a excellent relationship with their database because most of

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them don't. So believe it or not, many of the

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so called Internet gurus are at least to some degree,

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reverting back to good old direct mail. And yes, it

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can be expensive if it's not laser targeted to your

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specific ideal client. Now it's preferable to send out ten

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mailings to two thousand prospects versus sending out one mailing

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to twenty thousand.

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Interesting.

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Yeah, but even two thousand can seem daunting logistically and

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financially to a small business owner. However, if you're willing

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to devote a little time and effort to this direct

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mail's marketing strategy, the cause for you to read multiple

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prospects multiple times will be just your time sweat equity

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if you will. And before I go through how to

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make your direct mail campaign free, there are a few

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things that you need to know about direct mail. First,

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you need to understand who your ideal client is. Now,

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if you ever had the opportunity to work with us,

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one thing that we make sure we guide you to

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do is preparing a customer avatar. Now, a customer avatar

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is a representation of your ideal client, and this is

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the client that actually wants what you sell versus needs

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what you sell. Let me give you an example I

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need to have if I need to have a dentist

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fill a cavity, I certainly don't want that. On the

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other hand, no one really needs whiter teeth, but most

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people want wider teeth. So if you can see the

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difference in those two situations, wants are based on emotion

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and needs are based on logic, and discovering your ideal

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client depends on your ability to discover the demographic which

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are the physical traits, as well as the psychographics which

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are the emotional traits that make up your ideal client.

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And the client avatar helps you focus on those demographic

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or physical traits and psychographic and emotional traits.

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Great.

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So look, Michael, Yeah, we've been going at this for

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some time here, and we'll get in a number of

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comments and some good questions. So let's break this up

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a little bit and just inject some of these questions

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from the business owners that are listening and really interested

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in this topic. So first things first, this doesn't take

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away from a digital online strategy.

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Correct, We're getting some of those kind.

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Of you know, like you know, we've talked about a

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lot with the buyer's journey, you know, drift campaigns and

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those types of things. It doesn't eliminate it, not at all.

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But what it does for those people who are doing

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nothing or don't feel like they could do anything, or

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don't have a list that is opted in and feel

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a little edgy about doing you know, some spammy emailing.

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This is the strategy. It's really designed around those people

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with no budgets.

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Brilliant.

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So regardless of business owner, this could be additive, right,

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This could be a value.

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Add Yes, this could be definitely added for some and

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some some of a lot of the business owners that

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we've been talking to have absolutely no, zero, zero money

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to do any marketing. Yeah, and so this is this fits.

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This is playing this.

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Song absolutely and that Michael, the other comments that we're

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in is actually a compliment to you. Right, Folks are

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saying the timing of this is really on point because

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they're getting into Q four, you know a lot of

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pressures around how their annual performance is looking like. And

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you know, folks are saying, this might be the way

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to maybe hit some of those numbers. But maybe can

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you just reflect on the timing of this, particularly with

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the holiday season and waste to maybe take advantage of that.

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Well, I think, you know, depending upon how long it

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takes for you to coordinate it. Uh, you know, now

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is certainly the time, you know, if it takes like

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we're at October seventh, So if it takes a month

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to coordinate it month, month and a half, you'd be

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right on for the holidays.

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Brilliant good stuff, Michael, thank you.

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Second, the other thing that getting back to what you

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need to know about direct mail. Before I impart the strategy,

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you must map out the decision making process. You know,

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all human beings want the best deal. The best deal

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doesn't mean the lowest price, but it does mean the

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most value for the price they pay. What we've seen

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in our research for the book called Powerful Business Strategies

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is that prospects will pay twice the price of your

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competitors if they see five times the value for the

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price you're charging them. Wow. And you know, and we

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had a special show dedicated to adding more value. But

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prospects decide to buy based on value. So map out

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your ideal clients consider valuable to them in their specific situation.

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You know, just to give you a quick example, a

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daycare mother with a six month old infant will value

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a daycare that offers sufficient trained staff to show additional love,

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care and support for the kids that they keep. On

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the other hand, you know, there's a daycare mom with

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a four year old child that will value a daycare

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that specializes in offering educational programs for preschooler's like for example,

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you know what mom wouldn't want their child to be

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reading at a first grade level prior to kindergarten. And

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by the way, it may be necessary for the business

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owners to create new innovations to their current business model

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in order to provide their prospects with value. Sometimes it

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takes a change in the operating basis and so that

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I know that creates certain challenges. But you know, if

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you're going to do something special, if you're going to

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do something special to add value to a to a

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customer or a client, that could require some changes to

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the way you operate the way you uh, you know,

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you're the logistical way you operate.

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Yeah, that's a really good point.

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So it looks like we're getting some appreciative comments just

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based on that. Michael, really quick question here this might

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go back to something you said earlier. So just this

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idea of really adding more value right and getting after

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that that contact or customer list you set psychographics and demographics,

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can we just find you and maybe define that a

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little bit for folks.

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Yeah, so demographics things like age, yeah, age, geography, you

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know where they geographically located? Are they male, female? That

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type of thing. Psychographics are more a triggers. Interesting, Yeah,

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like for example, what makes them happy, what makes them sad?

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What are their challenges? Who are the people that they

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listen to, who are the people they trust? Those are

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the those are more emotional and psycho psychographic triggers. So yeah,

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so the uh, the customer Avatar identifies both of those

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things all in one, all in one document.

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Nice.

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Uh, And that's something we help business owners with great.

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But for the business owner who accepts the challenge of

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implementing those innovations and changing their operating basis, they're going

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to dominate. They will dominate their market. And once the

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innovations are in place, they need to create that compelling message,

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which is a third thing. Now that this would this

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should be easy to do since innovations typically separate the

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business from all its competitors, and writing a compelling message.

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Message becomes as simple as stating the facts and listing

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the differences between you and your competition. And furthermore, you

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can go to one of our past shows that we

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dedicate only to compelling office and if time allows, I

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will summarize things like compelling offers and the conversion formula.

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So in the meantime, let me give you an example

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of adding more value through innovation. And I understand that

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by today's standards when I'm this example that I'm going

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to give you isn't realistic yet, but it makes the

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point of the great advantage that you have when you

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add more value to your product or service. So, as

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you know, there are a multitude of Toyota dealers selling cameras,

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and not only that, uh you know they're there, their

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competitors are also selling uh, similar priced models as well.

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And so if we just if we just take something like,

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let's just take the Nissan Ultima and the Chevy Malibu

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is just two of them. But what would happen if

257
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the and those are similarly priced models as the camera?

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But what would happen if the engineers a Toyota crack

259
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the mileage code and created a camera that got two

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hundred miles per gallon? Would that separate them from all

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their competitors? Would they be able to charge more for

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that car than all the others? Would that marketing be

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really hard to write? Well hardly? I mean it would

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be as simple as this. We sell Toyota cameras. Now

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they get two hundred miles per gallon, and we're only

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twenty percent higher in price than our competitors comparable models

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one one, So you see what I mean. So now

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you know? Now you know I mean it is once

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you come up with an innovation or a way to

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add value, it's not that difficult to communicate it. And

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so you know how they make these decisions before because

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you know what they what they value, and you've created

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the innovation, so the value can be placed into a

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compelling marketing message. Okay, So let's talk more about how

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to direct, how to send, and how to develop that

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direct mail piece for free. Okay. So the first step

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is to create a list of additional products and services

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that your ideal clients are interested in. So, for example,

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if you're a landscaper, your ideal clients would be interested

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in adding a fence to their yard or perhaps a pool,

281
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maybe stonework, a barbecue pit, all right, patio deck. They

282
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also want their home painted. They might want their bathroom remodeled,

283
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their home inspected, install a security system them, and so on. Now,

284
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none of these are direct competitors with the landscaper, but

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they all should be targeting that same ideal client. So

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what I'm asking you is you to pick up your

287
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phone or send an email or a letter at the

288
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very least follow follow it up, preferably with a phone

289
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call and that letter. I'm going to explain in a moment.

290
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But pick up the phone and call as many of

291
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these businesses as required until you find one and only

292
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one for each type of business that would be willing

293
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to partner with you on this direct mail marketing program.

294
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Now you should plan to find a minimum of ten

295
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non competitive businesses to partner with. Now you might be

296
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able to do less than ten, but ten is optimum.

297
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And by the way, this first step is similar to

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creating joint venture partnerships that we actually talked about last

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week in our last show. Now, each partner is responsible

300
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for designing a three x five sized postcard with a

301
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special offer listed on it. For their business and if

302
00:19:18.559 --> 00:19:23.880
they want, they can utilize both sides of the postcard. Now,

303
00:19:23.880 --> 00:19:26.880
what I'm proposing here is similar to what you often

304
00:19:26.920 --> 00:19:32.000
see in a val pack malely, but those have all

305
00:19:32.079 --> 00:19:34.920
different businesses in it, all different businesses. This is just

306
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going to focus on what your ideal clients want and

307
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so you'll agree with your partner to coordinate buying the

308
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prospect list from the list broker that FETs your ideal

309
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client description. You'll agree to arranging the printing of all

310
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the postcards and remember the partner is designing it. Getting

311
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the postcards to the direct mail house. You'll also agree

312
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to and scheduling the various mailings over whatever timeframe the

313
00:20:05.400 --> 00:20:09.839
group decides is appropriate. So, in short, you're going to

314
00:20:09.920 --> 00:20:14.359
create your very own val pack business consortium with you

315
00:20:14.440 --> 00:20:20.759
with the HELM. Now, this is critical before you contact

316
00:20:20.839 --> 00:20:24.319
any of these potential partners, check out the costs for

317
00:20:24.440 --> 00:20:28.359
all of these services and arrange for bulk discounting with

318
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the printer and the mail house. This is this is

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this is the most critical step you can take before

320
00:20:34.319 --> 00:20:38.680
you contact anybody. You have to figure out all the

321
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costs involved in this whole campaign. Now I'm going to

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00:20:45.079 --> 00:20:48.000
give you some examples of costs, but they're not likely

323
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the costs in your particular area. Every area I find

324
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is different. Also find out from the from your research

325
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of costs where the quantity price breaks out. Now, I'm

326
00:21:02.079 --> 00:21:05.160
going to give an example of a two thousand piece mailing,

327
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because as I said earlier, it's better to send a

328
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two thousand piece mailing to the same people ten times

329
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than it is to send one twenty thousand piece mailing.

330
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So I'm going to give you an example of a

331
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two thousand piece mailing. But maybe there's a real favorable

332
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price break at twenty five hundred or fifteen hundred. So

333
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you've got to change that quantity accordingly according to what

334
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the direct mail house tells you what they're printing price

335
00:21:33.039 --> 00:21:37.799
breaks out. So know what your concept of everything up front,

336
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and be sure to look online as there are a

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multitude of revuable online printers and mass mailers offering bulk

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pricing discounts. Now, typically you could send out direct mail

339
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postcards for about seventy cents each, but that's when you

340
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send them individually. You're going to be sending all of

341
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your partner's postcards as well as your own in one

342
00:22:01.279 --> 00:22:06.720
single mailing. So if you target two thousand homes in

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your area that are your ideal clients, the total cost

344
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to mail these prospects one time probably in the area

345
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of three thousand dollars and I'm being a little high,

346
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but I'm using three thousand dollars including purchasing a multiple

347
00:22:22.440 --> 00:22:28.079
use mailing list. So naturally prices will vary depending upon

348
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your location. As I mentioned, and by the way, that

349
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price should also include the printing and mailing of your

350
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postcard as well. And your postcard is not going Your

351
00:22:38.880 --> 00:22:42.240
postcard is not going to be three by five like

352
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I said, your partner's postcard is going to be. Your

353
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postcard will be a four x six full color postcard,

354
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so it stands out from the others. And please note

355
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that your partners may also create the same size postcard,

356
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but by you stating that you need three by five card,

357
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they will automatically request that they will automatically use that size. Now,

358
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they can always upgrade in the future if they so desire,

359
00:23:09.400 --> 00:23:13.440
but most won't. Most won't upbreak, and yours will stand

360
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out from the others when prospects open that mailing. So

361
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now this is important. You've got to get all your

362
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partners to agree that you will schedule a minimum of

363
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ten separate mailings for a total cost of thirty thousand dollars. Now,

364
00:23:35.359 --> 00:23:39.000
this is three thousand dollars per mailing times ten mailings.

365
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Remember that repetition is important, and that's why we're doing

366
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ten mailings. Now, that's only three thousand dollars per business owner,

367
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and they can pay that on a per mailing basis

368
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if they want. You're just going to make sure that

369
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they commit to it. Ten separate mailings now may take

370
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up to five mins to complete. So that's allowed a

371
00:24:01.599 --> 00:24:06.039
six hundred dollars a month marketing budget for those partners.

372
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I mean, realistically, every every business in this consortium could

373
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easily gain a minimum of ten customers. That's a one

374
00:24:15.599 --> 00:24:20.359
half of one percent response, and that's that's pretty conservative

375
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because many of these direct mail campaigns average one percent,

376
00:24:24.960 --> 00:24:28.240
which would mean an average of twenty new clients for

377
00:24:28.480 --> 00:24:33.359
each of those prospects for each I'm sorry for each

378
00:24:33.400 --> 00:24:38.880
of those partners, and that's after a single mailing. So

379
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this is now a total of ten mailings. And by

380
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the way, look at your investment in all of this.

381
00:24:45.200 --> 00:24:48.279
All you've invested in this entire process is your time

382
00:24:48.839 --> 00:24:54.359
and organizational skills, and your bigger postcard should pull more

383
00:24:54.440 --> 00:25:00.319
clients than your partners. Now your partners have of it,

384
00:25:00.880 --> 00:25:04.559
all of these cost costs involved, and you have certainly

385
00:25:04.599 --> 00:25:07.759
earned your free ride by coordinating this entire prospect and

386
00:25:07.880 --> 00:25:11.519
driving qualified prospects to them. So this represents a true

387
00:25:12.079 --> 00:25:16.680
win win scenario, especially for the business owners like so

388
00:25:16.799 --> 00:25:22.759
many that we have interviewed with zero marketing dollars. Now

389
00:25:23.039 --> 00:25:27.599
here's a second version of this that has been used successfully,

390
00:25:27.640 --> 00:25:32.279
and see what you think this is really the second

391
00:25:32.400 --> 00:25:36.960
version is really just for business to consumer businesses. But

392
00:25:37.160 --> 00:25:39.720
first you have to find out how many people are

393
00:25:39.720 --> 00:25:43.240
living in your trading area, and what you want are

394
00:25:43.240 --> 00:25:47.279
the number of residences you see, the post office will

395
00:25:47.319 --> 00:25:51.400
show you how to do what's called a dear resident mailing,

396
00:25:52.440 --> 00:25:55.759
and the post office will deliver your dear resident mailing

397
00:25:55.960 --> 00:25:59.480
really cheap if you're because you're trying to hit every

398
00:25:59.480 --> 00:26:02.480
household in a certain zip code or in a set

399
00:26:02.519 --> 00:26:08.000
of zip codes. And if you'd like to personalize the

400
00:26:08.079 --> 00:26:11.960
carrier envelope and just do a search under the category

401
00:26:12.160 --> 00:26:15.640
mailing list and you'll find a list of local companies

402
00:26:15.680 --> 00:26:18.680
that can help you or if you want. One of

403
00:26:18.720 --> 00:26:23.319
the big mail mailing list houses is a company called

404
00:26:23.400 --> 00:26:27.480
Database USA, and they'll help you reach whatever target market

405
00:26:27.519 --> 00:26:30.160
you're looking for. So if you're looking for let's say,

406
00:26:32.119 --> 00:26:34.599
so let's say you find out that there's fifty five

407
00:26:34.680 --> 00:26:37.480
thousand residences in a particular trading area that you want

408
00:26:37.519 --> 00:26:44.240
to reach. What you do then is approach other businesses

409
00:26:44.920 --> 00:26:48.400
that would be interested in reaching these same people with

410
00:26:48.559 --> 00:26:51.799
a postcard advertisement and ask these businesses if they'd like

411
00:26:51.839 --> 00:26:55.200
to spend fifteen cents instead of seventy or eighty cents

412
00:26:55.240 --> 00:26:58.880
to reach these potential customers in this target market. And

413
00:26:59.000 --> 00:27:03.160
remember to only approach businesses that are not competing with

414
00:27:03.319 --> 00:27:10.359
yours or not competing collectively. Send a letter or email

415
00:27:10.400 --> 00:27:13.359
to these businesses. And I'm going to recite what the

416
00:27:13.440 --> 00:27:16.480
letter should be, and this is that letter that I

417
00:27:16.519 --> 00:27:18.720
referenced earlier that could be either in the form of

418
00:27:18.759 --> 00:27:21.880
an email, a letter, and what you could say on

419
00:27:21.920 --> 00:27:26.920
a phone call. So this is to find partners. Now,

420
00:27:27.079 --> 00:27:30.759
dear business owners, I'm sure you know how costly it

421
00:27:30.920 --> 00:27:34.880
is to mail a marketing letter to your target market.

422
00:27:35.799 --> 00:27:39.400
Even a simple postcard will cost you fifty cents or

423
00:27:39.400 --> 00:27:42.160
more for each postcard that you send out, and if

424
00:27:42.200 --> 00:27:44.920
you mail a letter in an envelope, you'll spend at

425
00:27:45.000 --> 00:27:48.839
least ninety cents per letter, even if the mail is

426
00:27:48.880 --> 00:27:53.119
at bulk rade. What I'm proposing is that we conduct

427
00:27:53.240 --> 00:27:57.599
a co op mailing. I'm looking for ten businesses, none

428
00:27:57.599 --> 00:28:02.960
of which, sorry in this case, twelve businesses, but ten

429
00:28:03.279 --> 00:28:06.079
was for the first version, twelve is for this version,

430
00:28:06.599 --> 00:28:09.440
none of which are in competition with each other. To

431
00:28:09.559 --> 00:28:13.599
share the cost of the mailing. All of our postcards

432
00:28:13.640 --> 00:28:17.200
would go into the same envelope. This mailing will be

433
00:28:17.279 --> 00:28:20.720
hitting fifty five thousand homes in the and then you

434
00:28:20.799 --> 00:28:25.400
insert what area, city and state. But instead of paying

435
00:28:25.400 --> 00:28:28.000
a minimum forty nine thousand, which they would have to

436
00:28:28.039 --> 00:28:32.680
pay to breach fifty five thousand homes, your mailing will

437
00:28:32.720 --> 00:28:37.119
cost just a little over four thousand dollars. That's an

438
00:28:37.279 --> 00:28:41.200
estimate based on our current out of pocket costs. So

439
00:28:41.279 --> 00:28:45.480
you'll be hitting a home in the XYZ area for

440
00:28:45.599 --> 00:28:48.640
less than seven and a half cents. All you need

441
00:28:48.680 --> 00:28:51.279
to do is give me your postcard or what you

442
00:28:51.319 --> 00:28:54.480
want to say, and I'll print it for you. I

443
00:28:54.519 --> 00:28:56.759
have found this to be the most cost effective way

444
00:28:56.799 --> 00:28:59.000
to reach a target market which is in this Once

445
00:28:59.000 --> 00:29:03.000
again you name the area. But here's the hidden benefit

446
00:29:03.079 --> 00:29:07.960
of having twelve postcards arrive in one envelope. The postcards

447
00:29:08.000 --> 00:29:12.000
bundled together are heavy and kind of land with a

448
00:29:12.079 --> 00:29:15.440
thud when the envelope is dropped on the kitchen table.

449
00:29:15.519 --> 00:29:19.279
This is attension getting and actually improves the response rate

450
00:29:19.319 --> 00:29:22.160
to the mailing significantly over what you would receive if

451
00:29:22.200 --> 00:29:24.920
your postcard just showed up in the mailbox by itself.

452
00:29:25.880 --> 00:29:30.279
So if this program that interests you, if it interests you,

453
00:29:30.519 --> 00:29:32.759
just give me a call and give your phone and

454
00:29:32.799 --> 00:29:36.680
give your phone number of course in the letter, and

455
00:29:36.720 --> 00:29:39.480
I'll be happy to answer any questions you have and

456
00:29:39.519 --> 00:29:42.240
give you all the details. I encourage you to call

457
00:29:42.240 --> 00:29:44.720
me right away if you're interested, because I'll need your

458
00:29:44.759 --> 00:29:47.200
postcard ad by it. And you put the date right

459
00:29:47.240 --> 00:29:51.279
in there, giving the letter a sense of urgency in

460
00:29:51.359 --> 00:29:55.759
order to keep the mailing schedule. So now you can

461
00:29:55.880 --> 00:30:00.359
also get grouped together more than just postc cards in

462
00:30:00.400 --> 00:30:04.680
an envelope. You could also do it with little flyers

463
00:30:04.759 --> 00:30:08.240
or the letters or other types of advertising material. It

464
00:30:08.279 --> 00:30:11.759
doesn't have to be postcards, but postcards has seemed to

465
00:30:11.839 --> 00:30:14.440
work the best because you can use both the front

466
00:30:14.480 --> 00:30:20.880
and the back. And previously I said use a four

467
00:30:21.200 --> 00:30:25.240
six postcard. But when your partners use three by five

468
00:30:26.240 --> 00:30:28.759
and they see you using four by six, they may

469
00:30:28.799 --> 00:30:31.559
decide to try that for themselves. As I mentioned earlier,

470
00:30:32.279 --> 00:30:34.759
and I recommend that if the other mailings are in

471
00:30:34.839 --> 00:30:38.440
color and have been professionally designed, that you do the

472
00:30:38.480 --> 00:30:41.720
opposite and use a standardized postcard in black and white.

473
00:30:42.119 --> 00:30:44.119
It just depends what they use, and you'll know what

474
00:30:44.160 --> 00:30:48.160
they use because you're organizing this whole thing, and this

475
00:30:48.279 --> 00:30:51.920
continues to ensure that your postcard stands out from all

476
00:30:51.960 --> 00:30:58.279
the others. Then to further differentiate your mailing piece, use

477
00:30:58.319 --> 00:31:03.000
the conversion formula and give them a compelling offer. Now,

478
00:31:03.039 --> 00:31:06.359
most of the other postcards produced by the partners will

479
00:31:06.400 --> 00:31:11.200
be produced by ad agencies or by themselves, and they'll

480
00:31:11.240 --> 00:31:14.599
be the typical four color artwork, and they'll have the

481
00:31:14.720 --> 00:31:19.200
standard starburst graphic that says ten percent or whatever discount

482
00:31:19.279 --> 00:31:22.720
that they want to offer. Yours is going to stand

483
00:31:22.759 --> 00:31:24.640
out just by the fact that it's going to be

484
00:31:24.680 --> 00:31:29.319
bigger and that it's going to have that conversion formula

485
00:31:29.359 --> 00:31:33.440
with that compelling offer. So getting this system up and

486
00:31:33.519 --> 00:31:36.279
running will take time, effort, and energy on your pot

487
00:31:36.319 --> 00:31:38.839
But for those of you who are small business owners

488
00:31:39.240 --> 00:31:42.079
with little to no marketing dollars, this is a strategy

489
00:31:42.119 --> 00:31:46.519
that's definitely definitely worth investigating it at a minimum, use

490
00:31:46.559 --> 00:31:50.200
this little trick to conduct your direct mail marketing campaigns

491
00:31:50.519 --> 00:31:55.119
for absolutely no out of pocket dollars. To you, it's

492
00:31:55.200 --> 00:31:57.279
not all that hard to find those ten to twelve

493
00:31:57.359 --> 00:32:00.279
businesses that I'll be more than happy to jump in

494
00:32:00.640 --> 00:32:03.960
and do a joint venture with you. Nice However, this

495
00:32:04.319 --> 00:32:10.359
fear is repeating. Make absolutely sure that before you approach

496
00:32:10.480 --> 00:32:13.599
any of your partners that you have all the costs

497
00:32:13.640 --> 00:32:18.759
accumulated for every component of that direct mail piece, and

498
00:32:18.799 --> 00:32:22.200
your direct mail company will help you, will guide you

499
00:32:22.640 --> 00:32:25.279
as to what all those costs are what you have

500
00:32:25.359 --> 00:32:29.319
to go about getting for them. So now you have

501
00:32:29.359 --> 00:32:33.240
the ability to send direct mail to as many prospects

502
00:32:33.240 --> 00:32:36.720
as you want for free. And this show is designed

503
00:32:36.720 --> 00:32:39.319
to provide you with that paint by number ten plate

504
00:32:39.440 --> 00:32:43.640
to guide you in properly executing this strategy for your

505
00:32:43.680 --> 00:32:47.240
business and to do so with confidence and certainty. So

506
00:32:47.680 --> 00:32:50.640
follow up process and you'll soon position your business as

507
00:32:50.640 --> 00:32:55.960
a dominant player in your industry. And so what is

508
00:32:56.240 --> 00:33:03.240
really I think critically important here is that without an

509
00:33:03.279 --> 00:33:06.200
advertising budget, and direct mail, by the way, is a

510
00:33:06.319 --> 00:33:10.079
very effective form of advertising. When I was in the

511
00:33:10.119 --> 00:33:12.359
ski business, I used to use direct mail and it

512
00:33:12.440 --> 00:33:16.759
was my number one form of advertising, the best by far,

513
00:33:18.000 --> 00:33:22.160
because it was very targeted and you know, in that

514
00:33:22.200 --> 00:33:26.160
particular case, it was targeted to people who had purchased

515
00:33:26.200 --> 00:33:29.960
from our store in the past, and because we knew

516
00:33:29.960 --> 00:33:34.119
they were skiers. It just works so well. And so

517
00:33:34.200 --> 00:33:37.920
it's very important that you get a very targeted list

518
00:33:38.960 --> 00:33:42.599
and that you get I mentioned Database USA. They have

519
00:33:42.920 --> 00:33:46.559
very targeted lists that you can use, and I've used

520
00:33:46.559 --> 00:33:49.759
those in the past and they're very, very good, very

521
00:33:52.680 --> 00:33:55.279
And so with the little time that we have left,

522
00:33:56.640 --> 00:34:00.519
I want to talk about the importance of using the

523
00:34:00.559 --> 00:34:03.200
convergent formula in your direct mail pieces.

524
00:34:03.440 --> 00:34:07.920
Great, so, Michael, just a quick maybe sure recommendation. So

525
00:34:08.159 --> 00:34:10.480
can we get to the business compliments and then we

526
00:34:10.519 --> 00:34:12.400
could end with the little.

527
00:34:12.119 --> 00:34:13.000
Bits you have.

528
00:34:14.360 --> 00:34:17.599
Because again, yeah, just given the interest look and by

529
00:34:17.599 --> 00:34:22.960
the way, just phenomenal, we're getting some activity from business

530
00:34:22.960 --> 00:34:26.679
owners just digesting a lot of these insights. One quick question,

531
00:34:26.719 --> 00:34:30.119
by the way, that letter script that you describe. Can

532
00:34:30.159 --> 00:34:34.400
folks email you directly and maybe get that script.

533
00:34:34.119 --> 00:34:37.519
Or yes, yes they can. Your CFO at next Step

534
00:34:37.639 --> 00:34:42.159
CFO dot net. Y O, you are CFO at next

535
00:34:42.199 --> 00:34:44.599
Step CFO dot net, be happy to give it to them.

536
00:34:44.719 --> 00:34:47.920
Great. So look, five business compliments this week.

537
00:34:48.320 --> 00:34:52.920
Very excited. We'll start with Sandra. Sandra Wallman, who Michael

538
00:34:52.960 --> 00:34:57.000
I know you're quite familiar with. We have a great

539
00:34:57.039 --> 00:35:00.000
regard for Sandra and her team. She is a founder

540
00:35:00.159 --> 00:35:02.519
and owner of Hit the Spot Treats. In fact, she

541
00:35:02.599 --> 00:35:08.599
ows multiple businesses. Sound is just fantastic at being service minded.

542
00:35:08.719 --> 00:35:09.960
She's such a servant leader.

543
00:35:10.320 --> 00:35:14.360
Now, Hit Theespottreats dot com is a website and here's

544
00:35:14.400 --> 00:35:19.880
our value proposition. You as a business owner, small business owner,

545
00:35:19.960 --> 00:35:24.079
even mid sizer, bigger businesses that doesn't really matter, your

546
00:35:24.119 --> 00:35:27.639
business deserves to be remembered. And with Hit the Spot

547
00:35:27.760 --> 00:35:32.760
Treats Corporate Gratitude Initiative, you as a business owner, you

548
00:35:32.760 --> 00:35:37.519
could grow your client relationships through gifting with a sense

549
00:35:37.559 --> 00:35:40.760
of gratitude. In fact, getting started with a team at

550
00:35:40.840 --> 00:35:44.599
Hit the Spot Treats is very easy, very simple. They

551
00:35:44.639 --> 00:35:48.199
help you save time and they do this in a

552
00:35:48.239 --> 00:35:52.000
way that is very systematic, right, So they craft and

553
00:35:52.119 --> 00:35:55.159
work with you to kind of create that gift experience,

554
00:35:55.280 --> 00:36:00.440
and every gratitude box that you send to clients includes

555
00:36:00.840 --> 00:36:06.480
a donation to the National Multiple Sclerosis Society. So again,

556
00:36:06.599 --> 00:36:09.639
phenomenal work that Center and her team do. The second

557
00:36:09.639 --> 00:36:15.440
business owner is Michael Harrelson with Upcycled Waste. One of

558
00:36:15.480 --> 00:36:17.199
the things that Michael and I wanted to point out

559
00:36:17.320 --> 00:36:22.679
is just the service orientation of the folks at Upcycled Waste.

560
00:36:23.119 --> 00:36:26.800
They stand at the forefront of a pivotal shift that's

561
00:36:26.840 --> 00:36:29.800
happening in an industry. So that shift and sort of

562
00:36:29.840 --> 00:36:34.039
confluence of industrial materials processing as well as this idea

563
00:36:34.039 --> 00:36:39.280
of sustainable innovation, so really remarkable work. Larie Pernell is

564
00:36:39.320 --> 00:36:42.519
the third business owner that we want to complement and

565
00:36:43.400 --> 00:36:47.719
Louris and team. They are at a cle consulting firm.

566
00:36:47.960 --> 00:36:50.800
In fact, that's the name of the business, it's cle Consulting,

567
00:36:51.440 --> 00:36:53.760
which really helps because given the work that they do,

568
00:36:53.800 --> 00:36:56.800
it's very mission driven, its very community focused. So I

569
00:36:56.840 --> 00:37:01.320
would highly recommend a visit to a cle consulting firm

570
00:37:01.480 --> 00:37:02.639
dot com.

571
00:37:02.679 --> 00:37:04.639
The fourth business owner is Dave Rice.

572
00:37:05.199 --> 00:37:09.519
Dave is a founder and principal consultant at Rubicon EHS.

573
00:37:10.559 --> 00:37:15.360
I don't need to really sing Dave and teams praises here.

574
00:37:15.360 --> 00:37:17.559
I think the work that they do on the EHS

575
00:37:17.599 --> 00:37:21.239
front it speaks for itself. I would highly recommend a

576
00:37:21.360 --> 00:37:25.159
checkout of that website, Rubicon EHS dot com. Last, but

577
00:37:25.239 --> 00:37:31.239
not least, Kurt Sendek and Kurtsondk is with three D Stone.

578
00:37:31.679 --> 00:37:38.320
They provide and design fascinating stone structures and this is

579
00:37:38.360 --> 00:37:41.119
something that you want to incorporate as part of your

580
00:37:41.480 --> 00:37:46.000
home improvement or business improvement plan. Absolutely worthwhile to touch base

581
00:37:46.039 --> 00:37:48.360
with Kurt and team. I will toss it back over

582
00:37:48.480 --> 00:37:50.840
to Michael. Michael, thank you, thank you.

583
00:37:52.000 --> 00:37:57.599
I love compliments. Yes, great, that's great. So I wanted

584
00:37:57.639 --> 00:38:00.760
to you know, I've thrown around some terms once again,

585
00:38:00.920 --> 00:38:03.679
you go back to Powerful Business Strategies dot com to

586
00:38:03.760 --> 00:38:08.280
listen to some more detail. But when I throw around

587
00:38:08.400 --> 00:38:12.960
terms like compelling offer, conversion formula, position of market, dominance,

588
00:38:14.360 --> 00:38:19.519
buyer's journey, UH, I want the I want people to

589
00:38:19.599 --> 00:38:24.880
understand that there are there are strategies behind every one

590
00:38:24.920 --> 00:38:29.199
of those UH terms and that when I mentioned the terms,

591
00:38:29.239 --> 00:38:31.960
I just feel like I'm just because we have new

592
00:38:32.000 --> 00:38:35.239
listeners all the time, and so they have that they're

593
00:38:35.239 --> 00:38:38.960
not as familiar with things like the conversion formula or

594
00:38:39.639 --> 00:38:43.440
position of market dominance, or the five components to a

595
00:38:43.440 --> 00:38:46.599
compelling offer. So I just want to you know, we

596
00:38:46.639 --> 00:38:48.599
only have a few minutes, and I want to just

597
00:38:48.639 --> 00:38:50.559
get to go through as much as I can with

598
00:38:51.519 --> 00:38:55.280
things like the conversion, especially the conversion formula and compelling offers.

599
00:38:55.960 --> 00:39:02.079
So here's the thing about the conver formula. It's a

600
00:39:02.119 --> 00:39:05.320
four pot formula, and this is how you can get leads,

601
00:39:05.840 --> 00:39:09.119
this is how you can convert those leads into prospects.

602
00:39:10.079 --> 00:39:12.760
It's a four pot formula that allows you to address

603
00:39:12.800 --> 00:39:17.440
the prospects problem and solution and do so at just

604
00:39:17.519 --> 00:39:20.679
the right time as if you were in the prospect's mind.

605
00:39:20.840 --> 00:39:25.440
Now it must be followed like any other formula, and

606
00:39:25.559 --> 00:39:28.960
what it's designed to do is it's designed to first

607
00:39:29.599 --> 00:39:35.280
address two emotional issues to get into the head of

608
00:39:35.280 --> 00:39:37.880
the prospect. And that is the problem that the customer

609
00:39:37.920 --> 00:39:40.840
has and doesn't want. The solution they want, they can't find,

610
00:39:41.960 --> 00:39:45.119
and that is what the conversion formula is designed to do.

611
00:39:45.519 --> 00:39:49.960
So it's designed to attack the emotional cords and then

612
00:39:50.679 --> 00:39:55.960
it will then logically show the prospect how what the

613
00:39:56.039 --> 00:39:59.519
reason why they should buy this solution, and so let

614
00:39:59.519 --> 00:40:02.239
me go through formula. The formula starts with what's called

615
00:40:02.239 --> 00:40:05.400
the captivate. That's the headline, which happens to be the

616
00:40:05.440 --> 00:40:09.199
problem that the customer has and doesn't want. It's designed

617
00:40:09.239 --> 00:40:12.400
to stop the prospect in their tracks, interrupt them, if

618
00:40:12.440 --> 00:40:16.480
you will. This headline or problem is the first thing

619
00:40:16.519 --> 00:40:18.519
that you say out of your mouth or that a

620
00:40:18.559 --> 00:40:24.039
person sees or hears from you on your business. Now

621
00:40:24.079 --> 00:40:27.559
it must really identify the problem they have, as you

622
00:40:27.679 --> 00:40:30.800
only have three to five seconds to keep their attention.

623
00:40:32.119 --> 00:40:34.800
And you know a lot of people will say, like

624
00:40:35.000 --> 00:40:38.400
painters might say, well, the problem that the customer has

625
00:40:39.119 --> 00:40:44.320
is they can't the customer doesn't know what color paint

626
00:40:44.360 --> 00:40:47.880
to select. Well, any painter can solve that problem. And

627
00:40:49.159 --> 00:40:53.880
so it has to be something that either that painter

628
00:40:54.320 --> 00:40:58.679
doesn't promote, might very well do it but doesn't promote it,

629
00:40:58.840 --> 00:41:02.800
or some problem that you you have seen your customers

630
00:41:02.840 --> 00:41:06.440
have and that should be addressed. The second step in

631
00:41:06.480 --> 00:41:09.679
the conversion formula is called fascinate. Now that you interrupted

632
00:41:09.719 --> 00:41:12.440
the prospect with the problem, you have to keep their

633
00:41:12.480 --> 00:41:15.920
intention and you have to engage them with a sub

634
00:41:15.960 --> 00:41:18.760
headline or the second thing they see, which happens to

635
00:41:18.760 --> 00:41:21.320
be the solution to the problem that they can't find.

636
00:41:22.280 --> 00:41:24.920
And so this is how you enter the conversation that's

637
00:41:24.960 --> 00:41:27.559
taking place in the mind of the prospect to captivate

638
00:41:27.599 --> 00:41:30.960
and fascinate. And so I'm going to repeat it one

639
00:41:30.960 --> 00:41:34.199
more time. These two parts of the conversion formula are

640
00:41:34.239 --> 00:41:37.599
the key to successful market And if these two parts

641
00:41:38.039 --> 00:41:41.960
of the conversion formula are not doing their job, we

642
00:41:42.079 --> 00:41:45.400
never get to the third part and the fourth part.

643
00:41:46.039 --> 00:41:48.280
And we have a special name for these two parts.

644
00:41:48.760 --> 00:41:52.599
It's called the position of market dominance. So you need

645
00:41:52.639 --> 00:41:55.119
to get the position of market dominance right, which is

646
00:41:55.119 --> 00:41:58.880
to captivate problem the customer has and doesn't want, and

647
00:41:58.920 --> 00:42:03.159
to fascinateution they want they can't find. Otherwise, if you

648
00:42:03.159 --> 00:42:08.079
don't get those right, the formula falls apart. Many times

649
00:42:08.079 --> 00:42:13.840
we see people starting with the fascinate. It's notting with

650
00:42:13.880 --> 00:42:18.480
the solution. You can start with us, you can't. You

651
00:42:18.559 --> 00:42:21.559
cannot give a solution when you don't. You can't brag

652
00:42:21.599 --> 00:42:25.320
about a solution when you don't state the problem. It

653
00:42:25.400 --> 00:42:28.679
works best when you state the problem than the solution.

654
00:42:28.880 --> 00:42:35.280
And the third step is to educate. Now that we've engaged,

655
00:42:35.719 --> 00:42:42.320
interrupted and engaged, captivated and fascinated the customer prospect, we

656
00:42:42.400 --> 00:42:46.199
now have their attention. We have the time to give

657
00:42:46.239 --> 00:42:49.639
that prospect more information about how we go about solving

658
00:42:49.679 --> 00:42:54.039
the problem. So once again, to captivate and fascinate hits

659
00:42:54.079 --> 00:42:57.480
the emotional cord the problem they have. They don't want

660
00:42:57.519 --> 00:43:01.480
in a solution that hits the emotional button, the logical

661
00:43:01.519 --> 00:43:03.519
button when they have to explain it to their spouse

662
00:43:03.519 --> 00:43:08.880
on why they purchase this product or service. That's the educate.

663
00:43:09.000 --> 00:43:14.320
The educate provides the logical component. And then finally we

664
00:43:14.440 --> 00:43:17.519
have to end the conversion formula with an offer that's

665
00:43:17.519 --> 00:43:21.320
so compelling and so irresistible that the prospect would be

666
00:43:21.400 --> 00:43:24.559
foolish not to take it. Now, I don't want to

667
00:43:24.599 --> 00:43:27.639
just say that, I want to talk about the five

668
00:43:27.719 --> 00:43:32.079
components of a compelling offer. So the clothes needs to

669
00:43:32.079 --> 00:43:35.280
be compelling, and so here are the five components. This

670
00:43:35.320 --> 00:43:37.239
is what makes up and by the way, you can

671
00:43:37.360 --> 00:43:42.719
use one or more of these components. Number one is

672
00:43:42.760 --> 00:43:47.039
scarcity an urgency. Scarcity is when you proclaim that there's

673
00:43:47.079 --> 00:43:50.400
a limited availability of your product, for example, there are

674
00:43:50.440 --> 00:43:55.599
only three special hair brushes left. Urgency is when you

675
00:43:55.639 --> 00:43:58.199
put a time limit on the offer. You know, when

676
00:43:58.239 --> 00:44:00.960
I was in the ski business, our most scessful sales

677
00:44:01.280 --> 00:44:03.800
were four day sales. They were start on Thursday and

678
00:44:03.800 --> 00:44:07.159
then on Sunday, but there was a time limit. If

679
00:44:07.199 --> 00:44:11.880
you weren't at the store Thursday through Sunday, you lost

680
00:44:11.880 --> 00:44:15.599
out on the opportunity to save money. Now, in one

681
00:44:15.599 --> 00:44:19.360
of the sales that we had, we consistently a certain

682
00:44:19.400 --> 00:44:22.039
time period of the year. We consistently did one million

683
00:44:22.079 --> 00:44:25.239
dollars in four days because the deals were great and

684
00:44:25.280 --> 00:44:32.960
the urgency and scarcity were intense. The second component of

685
00:44:33.000 --> 00:44:35.760
a compelling offer is a risk reversal, where the seller

686
00:44:35.800 --> 00:44:38.840
in the transaction takes most or all the risk. These

687
00:44:38.840 --> 00:44:42.519
can come in the form of a guarantee. Like you know,

688
00:44:42.599 --> 00:44:47.199
when I was in the ski business and I had

689
00:44:47.320 --> 00:44:49.719
what's called the ski guarantee. Ski the ski three times,

690
00:44:49.760 --> 00:44:51.400
you don't like it, bring it back for a brand

691
00:44:51.440 --> 00:44:55.559
new pair. That worked famously. I have construction clients that

692
00:44:55.679 --> 00:44:58.719
give five year warranties on their work. These guarantees are

693
00:44:58.719 --> 00:45:03.400
differentiators and they close more sales the other the other

694
00:45:03.480 --> 00:45:06.559
day I heard an ad for a psychic service. If

695
00:45:07.159 --> 00:45:09.880
the prediction does not come true, you get your money back.

696
00:45:10.239 --> 00:45:15.119
I mean that's that's a pretty good value. So, uh,

697
00:45:15.159 --> 00:45:18.480
that's a risk reversal. The third component of a compelling

698
00:45:18.519 --> 00:45:21.920
offer is adding low cost but high value to your

699
00:45:21.920 --> 00:45:26.320
product of service. So a toothpaste company would put a

700
00:45:26.400 --> 00:45:29.119
let's say, put a QR code on the tube of toothpaste.

701
00:45:29.440 --> 00:45:33.039
That leads to a video that shows people four areas

702
00:45:33.039 --> 00:45:35.679
inside the mouth that are most neglected while brushing their

703
00:45:35.719 --> 00:45:39.280
teeth and the best way to brush those areas. Information

704
00:45:39.519 --> 00:45:42.880
is a great way to add more value. I was

705
00:45:42.920 --> 00:45:46.400
talking earlier about the about Toyota. If they could create

706
00:45:46.840 --> 00:45:50.559
and crack the mileage code, if they could come up

707
00:45:50.599 --> 00:45:53.440
with a way to have a card drive two hundred

708
00:45:53.440 --> 00:45:56.280
miles to the gallon, that was another you know, that

709
00:45:56.400 --> 00:46:00.679
was an example of innovation while while adding more value.

710
00:46:02.159 --> 00:46:04.840
The fourth component of a compelling offer is packaging and

711
00:46:04.880 --> 00:46:10.039
bundling multiple products and services together. A package always provides

712
00:46:10.239 --> 00:46:15.760
a strong perception of value and then finally, in difference

713
00:46:15.800 --> 00:46:20.679
to the outcome, any prospect can tell when you're pressing

714
00:46:20.719 --> 00:46:22.840
to make a sale, and as a result, they surmise

715
00:46:22.920 --> 00:46:25.639
that you don't have their best interest in mind. You

716
00:46:25.719 --> 00:46:28.000
have your best interest in mind, and you just want

717
00:46:28.000 --> 00:46:31.719
to sell something. That's a big problem. So by being

718
00:46:31.760 --> 00:46:34.400
indifferent to the outcome, it puts you on your prospect

719
00:46:34.480 --> 00:46:37.320
on the same side of the table. And getting to

720
00:46:37.360 --> 00:46:40.079
know the person in terms of their inspirations, goals, and

721
00:46:40.119 --> 00:46:44.280
objectives helps with this process. But here's something else. You know,

722
00:46:44.440 --> 00:46:50.880
most products or services require certain steps and a certain process.

723
00:46:52.960 --> 00:46:59.119
And so one of the things that I've seen work well,

724
00:47:00.280 --> 00:47:04.199
and I've used this myself, is saying something like this,

725
00:47:05.280 --> 00:47:09.000
whether you work with me or someone else, you must

726
00:47:09.239 --> 00:47:14.360
go through these steps in order to succeed if you

727
00:47:14.519 --> 00:47:18.960
if you purchase this product or service. And by saying that,

728
00:47:20.039 --> 00:47:23.480
it's indifference whether you work with me or someone else,

729
00:47:23.599 --> 00:47:27.000
and if you say that throughout the presentation, throughout the

730
00:47:27.000 --> 00:47:34.400
sales process, that's being indifferent to the outcome. So once again,

731
00:47:34.400 --> 00:47:37.760
though we have shows dedicated to compelling offers and the

732
00:47:37.800 --> 00:47:41.760
conversion formula position of market dominance, I just wanted to

733
00:47:41.800 --> 00:47:46.639
mention one more thing, and that's the buyer's journey as

734
00:47:46.679 --> 00:47:48.360
we have a separate we have a separate show for

735
00:47:48.360 --> 00:47:51.280
that as well that we've already done, and so the

736
00:47:51.360 --> 00:47:55.639
buyer travels through this predictable information gathering stage on their

737
00:47:55.639 --> 00:47:59.360
way to a purchase. And here's the remarkable statistic that

738
00:47:59.400 --> 00:48:02.199
we found. Many studies were done on this, by the way,

739
00:48:02.239 --> 00:48:04.840
and they found that only one to three percent of

740
00:48:04.960 --> 00:48:08.599
buyers in any market and any moment are ready to buy.

741
00:48:08.880 --> 00:48:12.480
Not the other ninety seven to ninety nine percent are

742
00:48:12.519 --> 00:48:17.119
on what we call the buyer's journey. And many people

743
00:48:18.079 --> 00:48:22.159
don't understand us because they're always going after that was

744
00:48:22.199 --> 00:48:26.079
now buyers that one to three percent, ninety seven to

745
00:48:26.159 --> 00:48:28.679
ninety nine percent of a market are on this journey

746
00:48:28.719 --> 00:48:31.760
where it starts out with a mild interest. You know,

747
00:48:32.119 --> 00:48:35.679
somebody just makes somebody aware of the product or service,

748
00:48:35.719 --> 00:48:37.800
and you know, they might look around and see what

749
00:48:37.880 --> 00:48:40.559
else is out there. But then as they go out

750
00:48:40.639 --> 00:48:43.559
down this journey, which could take anywhere from five fifteen

751
00:48:43.559 --> 00:48:47.639
minutes to fifteen years or more, they're asking why should

752
00:48:47.679 --> 00:48:51.159
I buy? What are the benefits of ownership? And then

753
00:48:51.280 --> 00:48:53.880
they're asking as they go down the journey, why shouldn't

754
00:48:53.880 --> 00:48:58.360
I buy? What are the objections? What is why? Why?

755
00:48:58.800 --> 00:49:01.800
You know what if come up with these that they're

756
00:49:01.840 --> 00:49:04.280
coming up with these objections that need to be overcome,

757
00:49:05.000 --> 00:49:08.119
and then when they finally overcome that, who should they

758
00:49:08.159 --> 00:49:13.199
buy from? And that is you never know, and that's

759
00:49:13.239 --> 00:49:15.800
what we were talking about with the direct mail campaigns.

760
00:49:16.360 --> 00:49:21.760
You never know what position your prospect is in during

761
00:49:21.840 --> 00:49:28.599
the buyer's journey. And so once again I just wanted

762
00:49:28.639 --> 00:49:34.920
to talk about position of market, dominance, conversion formula, compelling offers,

763
00:49:35.119 --> 00:49:37.960
and a little bit about the buyer's journey because I

764
00:49:38.119 --> 00:49:41.960
made mention to the importance of utilizing those strategies even

765
00:49:42.079 --> 00:49:45.239
in a direct mail campaign or any type of advertising

766
00:49:45.280 --> 00:49:49.679
that you do. So once again, to get a copy

767
00:49:49.719 --> 00:49:52.480
of the book Powerful Business Strategies, simply go to our

768
00:49:52.480 --> 00:49:58.079
website www dot NEXTSTEPCFO dot net. It's totally complementary. And

769
00:49:58.159 --> 00:50:01.360
until next Monday at noon eas eatern time, but ch

770
00:50:01.880 --> 00:50:05.719
Chucky Obio. My name is Michael Barberita, and remember, don't

771
00:50:05.800 --> 00:50:08.599
keep doing what your competition is doing.

772
00:50:10.440 --> 00:50:13.559
You have been listening to Powerful Business Strategies finding out

773
00:50:13.559 --> 00:50:17.239
that everything you ever learned about growing your business is wrong.

774
00:50:17.519 --> 00:50:20.719
Tune in next week and every week at noon Eastern

775
00:50:20.800 --> 00:50:24.239
time on W four CY Radio with your host Michael

776
00:50:24.280 --> 00:50:28.880
Barbarita of NeXTSTEP CFO and moderator Chucky Obio