July 16, 2024

The Buyers Journey

Winning Business Strategies, Conversion Formula, Buyers Journey, Compelling Offers

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

iHeartRadio podcast player iconSpotify podcast player iconAmazon Music podcast player iconPandora podcast player iconAudible podcast player iconDeezer podcast player iconPodchaser podcast player iconSpreaker podcast player iconApple Podcasts podcast player iconYoutube Music podcast player iconPodcast Addict podcast player iconJioSaavn podcast player iconCastbox podcast player iconCastamatic podcast player iconCastro podcast player iconFountain podcast player iconGoodpods podcast player iconOvercast podcast player iconPocketCasts podcast player iconPodurama podcast player iconPodverse podcast player iconPodyssey podcast player iconRSS Feed podcast player iconYouTube podcast player icon
iHeartRadio podcast player iconSpotify podcast player iconAmazon Music podcast player iconPandora podcast player iconAudible podcast player iconDeezer podcast player iconPodchaser podcast player iconSpreaker podcast player iconApple Podcasts podcast player iconYoutube Music podcast player iconPodcast Addict podcast player iconJioSaavn podcast player iconCastbox podcast player iconCastamatic podcast player iconCastro podcast player iconFountain podcast player iconGoodpods podcast player iconOvercast podcast player iconPocketCasts podcast player iconPodurama podcast player iconPodverse podcast player iconPodyssey podcast player iconRSS Feed podcast player iconYouTube podcast player icon

Winning Business Strategies, Conversion Formula, Buyers Journey, Compelling Offers

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).

Powerful Business Strategies Podcast is also available on Talk 4 Media (www.talk4media.com), Talk 4 Podcasting (www.talk4podcasting.com), iHeartRadio, Amazon Music, Pandora, Spotify, Audible, and over 100 other podcast outlets.

Become a supporter of this podcast: https://www.spreaker.com/podcast/powerful-business-strategies--6198916/support.

WEBVTT

1
00:00:00.080 --> 00:00:02.319
The topics and opinions expressed in the following show are

2
00:00:02.319 --> 00:00:03.960
solely those of the hosts and their guests and not

3
00:00:04.000 --> 00:00:06.919
those of W FOURCY Radio. It's employees are affiliates. We

4
00:00:06.960 --> 00:00:10.039
make no recommendations or endorsements for radio show programs, services,

5
00:00:10.080 --> 00:00:12.400
or products mentioned on air or on our web. No

6
00:00:12.519 --> 00:00:15.720
liability explicitor implied shall be extended to W FOURCY Radio

7
00:00:15.759 --> 00:00:18.519
or it's employees are affiliates. Any questions or comments should

8
00:00:18.519 --> 00:00:20.879
be directed to those show hosts. Thank you for choosing

9
00:00:21.000 --> 00:00:25.199
W FOURCY Radio.

10
00:00:27.359 --> 00:00:30.920
Welcome to Powerful Business Strategies, where you will find out

11
00:00:30.960 --> 00:00:34.240
that everything you have ever learned about growing your business

12
00:00:34.560 --> 00:00:38.320
is wrong. Finally, a show where you'll learn the right

13
00:00:38.359 --> 00:00:41.679
way to grow your business by learning business and financial

14
00:00:41.719 --> 00:00:46.359
strategies that your competition isn't doing and now here is

15
00:00:46.399 --> 00:00:51.560
your host. President of Next Step CFO Michael Barbarita and

16
00:00:51.759 --> 00:00:55.719
joining Michael for today's show as an executive moderator is

17
00:00:55.920 --> 00:00:56.799
chooky obio.

18
00:01:00.640 --> 00:01:04.959
Yes, this is chookey, and I believe that gratitude is

19
00:01:05.200 --> 00:01:09.840
undefeated and growth is about the next step. It is

20
00:01:09.879 --> 00:01:13.799
an honor for me to moderate today's discussion with my

21
00:01:13.959 --> 00:01:15.079
good friend Michael.

22
00:01:15.239 --> 00:01:16.040
Michael how are you?

23
00:01:16.719 --> 00:01:21.359
How are you doing? Jokey? You know? I? Yes? How? Thanks?

24
00:01:21.400 --> 00:01:23.200
Got Do you have a good weekend? I did?

25
00:01:23.319 --> 00:01:25.640
Yeah, it was a brilliant weekend.

26
00:01:25.879 --> 00:01:27.760
I'm hoping, by the way, Michael, I could bring some

27
00:01:27.799 --> 00:01:30.719
of that brilliance from the weekend to the show today.

28
00:01:30.840 --> 00:01:32.280
I'm sure you yeah.

29
00:01:32.319 --> 00:01:35.239
So Look a quick disclaimer, folks, Michael and I are

30
00:01:35.280 --> 00:01:38.280
both affiliated with a number of different organizations, and I

31
00:01:38.359 --> 00:01:42.879
currently serve as the managing director of Business Development for

32
00:01:42.959 --> 00:01:45.640
Vetter Price. This is a global business focused law firm.

33
00:01:45.640 --> 00:01:48.599
But look, in addition to that, I collaborate with Michael

34
00:01:48.680 --> 00:01:54.519
to moderate business roundtables and document the insights from those roundtables.

35
00:01:54.879 --> 00:01:56.840
In fact, we've actually pulled together a number of those

36
00:01:56.840 --> 00:02:00.920
insights as part of a book called Powerful Business Strategies.

37
00:02:01.840 --> 00:02:04.959
But please note that the views expressed on this show

38
00:02:05.599 --> 00:02:11.719
are based on our personal views from our personal success experiences. Now,

39
00:02:11.759 --> 00:02:15.039
my mission is the fearless moderator for today's to ask

40
00:02:15.159 --> 00:02:20.240
the right questions to get to actionable solutions that you

41
00:02:20.280 --> 00:02:25.039
can implement as part of your business growth, and solutions

42
00:02:25.599 --> 00:02:30.000
and strategies that the competition is not doing. So from

43
00:02:30.000 --> 00:02:32.520
that perspective, let me toss it over to Michael.

44
00:02:33.520 --> 00:02:34.240
Thank you, Jicky.

45
00:02:34.759 --> 00:02:37.360
Well, my name is Michael baberta president of Next Step

46
00:02:37.439 --> 00:02:41.000
CFO and at next Step CFO, where a fractional CFO

47
00:02:41.080 --> 00:02:44.919
and strategic implementation firm, and our vision is to ensure

48
00:02:45.120 --> 00:02:49.680
overwhelmed business owners achieve the time, freedom and consistent profits

49
00:02:49.919 --> 00:02:52.919
to build a legacy and live the life they desire.

50
00:02:53.439 --> 00:02:57.840
Our mission is dedicated to guiding small business owners to

51
00:02:57.960 --> 00:03:02.120
leveraging their time, exploding their profit and build a meaningful legacy.

52
00:03:02.759 --> 00:03:05.080
This show, Powerful Business Strategies and our book of the

53
00:03:05.120 --> 00:03:08.080
same name, is a step toward accomplishing that vision and mission.

54
00:03:08.599 --> 00:03:10.159
And so with that, I'd like to hand it back

55
00:03:10.199 --> 00:03:13.240
to our to my co author and moderator for this show,

56
00:03:13.560 --> 00:03:14.240
Choky Obio.

57
00:03:15.039 --> 00:03:19.479
Michael, look, I'm really energized for today's episode. We got

58
00:03:19.479 --> 00:03:22.439
some great feedback from our last two episodes, and folks, look,

59
00:03:22.439 --> 00:03:24.039
if you've not checked that out, we've got quite a

60
00:03:24.080 --> 00:03:26.840
few business owners really from across the country that are

61
00:03:27.360 --> 00:03:29.520
tuned in today. If you've not checked out the last

62
00:03:29.520 --> 00:03:32.919
two episodes, feel free to invest the time to do that.

63
00:03:33.000 --> 00:03:37.439
But in the last episode, it was quite remarkable. Michael

64
00:03:37.560 --> 00:03:42.639
talked through a number of stories and strategies specific to

65
00:03:43.000 --> 00:03:47.199
the conversion formula. And then as part of that conversion formula,

66
00:03:47.639 --> 00:03:51.439
we talked about the compelling offer, which is the last

67
00:03:51.479 --> 00:03:55.759
component of that conversion formula. And look very excited by

68
00:03:55.800 --> 00:03:57.800
the way, Michael, when I went back and I reviewed

69
00:03:57.800 --> 00:04:00.879
my notes, there's some really good nuggets from that. I mean,

70
00:04:00.919 --> 00:04:03.319
what were some of your takeaways from the last episode.

71
00:04:03.599 --> 00:04:04.280
Yeah, it's great.

72
00:04:04.400 --> 00:04:07.039
I'm going to review that again today, but I do

73
00:04:07.159 --> 00:04:11.159
want to talk about the buyer's journey and through and

74
00:04:11.240 --> 00:04:14.400
through business owners that we interviewed. We found that a

75
00:04:14.439 --> 00:04:17.519
lot of them knew about this journey that the buyers

76
00:04:17.560 --> 00:04:19.319
go through on their way to a purchase, but they

77
00:04:19.680 --> 00:04:21.519
never really understood how.

78
00:04:21.399 --> 00:04:23.600
To strategically utilize it.

79
00:04:24.439 --> 00:04:27.199
You see, you see, Chicky, the buyer travels through a

80
00:04:27.240 --> 00:04:30.920
predictable internal and informational gathering stage on their way to

81
00:04:30.959 --> 00:04:31.519
a purchase.

82
00:04:32.240 --> 00:04:35.519
And we're going to discuss that today. Uh. But but

83
00:04:35.720 --> 00:04:36.680
it also.

84
00:04:36.519 --> 00:04:41.680
Requires us to review the conversion formula, which which which

85
00:04:41.879 --> 00:04:43.879
I do later on. But I'd like to talk about

86
00:04:43.920 --> 00:04:48.319
some of my experience. Uh, if that's okay now with

87
00:04:48.639 --> 00:04:50.040
the buyer's journey, is all right?

88
00:04:50.639 --> 00:04:50.959
Okay?

89
00:04:51.000 --> 00:04:51.680
For sure? For sure?

90
00:04:51.680 --> 00:04:54.040
And Michael, keep in mind too that a lot of

91
00:04:54.079 --> 00:04:56.920
folks are gonna have questions on is this something that

92
00:04:56.959 --> 00:05:00.360
my competition is doing or my competition isn't doing, And

93
00:05:00.399 --> 00:05:02.439
I imagine we'll explore some of that as well.

94
00:05:02.439 --> 00:05:04.879
Correct, Absolutely good, good point.

95
00:05:05.759 --> 00:05:09.199
So in nineteen ninety three, after I sold the ski business,

96
00:05:09.879 --> 00:05:12.959
I was in the frozen cookie dough business. We manufactured

97
00:05:12.959 --> 00:05:16.360
and distributed ten flavors of frozen cookie dough in both

98
00:05:16.360 --> 00:05:20.759
a scoop and bake packaging and a portion controlled dough

99
00:05:20.839 --> 00:05:23.839
drop as it was called, where the customer could just

100
00:05:23.879 --> 00:05:28.079
put the the portion control drop into the pan and

101
00:05:28.079 --> 00:05:30.959
then into the oven to bake it. And one of

102
00:05:30.959 --> 00:05:36.600
the customers I solicited fairly early on was QVC, and

103
00:05:36.839 --> 00:05:39.360
I thought it would be a great product for television

104
00:05:39.399 --> 00:05:43.759
because it was visual and and we could easily demonstrate

105
00:05:43.759 --> 00:05:44.480
how to use it.

106
00:05:44.959 --> 00:05:48.879
Yeah. Yeah, So I finally got to the right buyer.

107
00:05:49.160 --> 00:05:53.639
That took some time, but they kept saying no, They

108
00:05:53.720 --> 00:06:00.000
kept telling me to call back in six months. That's right, typical, right, yeah.

109
00:06:00.439 --> 00:06:02.480
But every time I would call back or get back

110
00:06:02.519 --> 00:06:04.839
to them, I tried to do something different. For example,

111
00:06:05.199 --> 00:06:07.680
there were several times that I would send a FedEx

112
00:06:07.759 --> 00:06:12.319
package sat day, same day with fresh baked cookies to

113
00:06:12.360 --> 00:06:16.879
the buyer. And I'd even sent fresh bake cookies same

114
00:06:16.959 --> 00:06:21.720
day FedEx. Quite expensive, by the way. Other food buyers

115
00:06:22.439 --> 00:06:25.079
as well, even though they were out of focused food buyers.

116
00:06:25.160 --> 00:06:30.160
You know, they might have bought squash while I was

117
00:06:30.199 --> 00:06:31.360
selling cookies.

118
00:06:32.399 --> 00:06:35.720
And c but Chu Bees eventually down the road, you know,

119
00:06:35.759 --> 00:06:37.600
so I thought this is over a period of a

120
00:06:37.639 --> 00:06:42.040
few years, Okay, they finally had a campaign that they

121
00:06:42.120 --> 00:06:47.279
called twenty in fifty and what they what they did

122
00:06:47.399 --> 00:06:50.720
is they would go to each of the fifty states, okay,

123
00:06:51.319 --> 00:06:55.120
and select the top twenty products in each state and

124
00:06:55.199 --> 00:06:59.680
put those twenty best products on the air. And as

125
00:06:59.680 --> 00:07:02.560
you can, yeah, that's what they did. I don't know

126
00:07:02.560 --> 00:07:04.680
if they still do it now, but that's what they

127
00:07:04.720 --> 00:07:08.399
did then. And as you could imagine, the audition room

128
00:07:08.879 --> 00:07:13.399
in Massachusetts was enormous and it was packed, so you

129
00:07:13.480 --> 00:07:17.439
had to bring your wares to this huge, humongous warehouse.

130
00:07:17.680 --> 00:07:18.120
Okay.

131
00:07:18.639 --> 00:07:19.040
Uh.

132
00:07:19.079 --> 00:07:22.600
And then there were even local TV and sports celebrities

133
00:07:22.600 --> 00:07:26.040
there that happened to have products, and you know, they

134
00:07:26.079 --> 00:07:28.879
could they could articulate much better than I could, and

135
00:07:28.920 --> 00:07:33.160
they were well known so it was really really intimidating,

136
00:07:34.560 --> 00:07:36.839
and a couple of the buyers that I sent cookies

137
00:07:36.879 --> 00:07:40.199
to happened to come to my booth and then tried

138
00:07:40.240 --> 00:07:43.040
the product that I just just baked because I used

139
00:07:43.040 --> 00:07:47.000
to bake cookies right at the booth. And so, a

140
00:07:47.040 --> 00:07:50.279
long story short, I was selected and I got to

141
00:07:50.439 --> 00:07:54.360
I got to air the product on QBC. Now there's

142
00:07:54.480 --> 00:07:59.759
much more to this episode. If we have time at

143
00:07:59.800 --> 00:08:01.959
the end, I'll tell you a little bit more because

144
00:08:01.959 --> 00:08:05.319
there's a punchline at the end. But as I think

145
00:08:05.360 --> 00:08:11.439
about it, during my sending those cookies and doing all

146
00:08:11.480 --> 00:08:15.279
types of different things to get the buyer's attention, they

147
00:08:15.319 --> 00:08:17.240
were on the buyer's journey.

148
00:08:18.519 --> 00:08:22.920
And it took years. So what I'd like to do

149
00:08:23.040 --> 00:08:24.720
first is explain.

150
00:08:24.319 --> 00:08:29.160
The conversion formula again, because the conversion formula plays.

151
00:08:28.920 --> 00:08:33.840
A really important role in the buyer's journey. Yeah.

152
00:08:33.960 --> 00:08:36.600
Yeah, So, as we've been saying in the last couple

153
00:08:36.639 --> 00:08:40.320
of shows, the key to successful marketing is that you've

154
00:08:40.360 --> 00:08:43.720
got to get into the head of the prospect. You're

155
00:08:43.720 --> 00:08:46.799
going to get into the conversation that's taking place in

156
00:08:46.840 --> 00:08:47.320
their mind.

157
00:08:48.320 --> 00:08:49.200
But how do we do that?

158
00:08:49.759 --> 00:08:54.919
Yes, and so Chookey you and I have observed through

159
00:08:55.159 --> 00:09:03.559
through through interviewing many many business owners and customers, that

160
00:09:03.879 --> 00:09:07.559
you enter the conversation taking place in the buyer's mind

161
00:09:08.080 --> 00:09:11.480
when you center it around two things. Number one, the

162
00:09:11.600 --> 00:09:14.480
problem that the prospect has and doesn't want, and to

163
00:09:14.679 --> 00:09:17.480
the solution that they're looking for that they can't find.

164
00:09:18.320 --> 00:09:21.399
And we simply enter the conversation in the buyer's mind

165
00:09:21.519 --> 00:09:27.440
strategically using what we call the conversion formula. And now

166
00:09:27.519 --> 00:09:30.320
here's the thing about the conversion formula.

167
00:09:30.799 --> 00:09:33.759
It's a four part formula. Okay.

168
00:09:33.879 --> 00:09:37.840
It allows you to address the processed problem and solution

169
00:09:38.519 --> 00:09:41.279
and to do so at just the right time, like

170
00:09:41.360 --> 00:09:43.960
if you were in the prospect's mind. And it's got

171
00:09:44.080 --> 00:09:47.559
to be followed like any other formula, where the four

172
00:09:47.679 --> 00:09:52.240
parts have to be in the right order, otherwise it

173
00:09:52.240 --> 00:09:57.440
doesn't work exactly. So the conversion formula is as follows,

174
00:09:57.440 --> 00:09:59.600
and like I said, it's got to be done in

175
00:09:59.720 --> 00:10:03.639
this order. And the first step, the first part of

176
00:10:03.720 --> 00:10:07.600
the conversion formula is called captivate. That's the headline that

177
00:10:08.240 --> 00:10:10.720
happens to be the problem that the customer has and

178
00:10:10.840 --> 00:10:15.200
doesn't want, and it's designed to stop the prospect in

179
00:10:15.279 --> 00:10:19.279
their tracks to rupt them, if you will. So this

180
00:10:19.440 --> 00:10:22.399
headline or problem is the first thing you say out

181
00:10:22.399 --> 00:10:25.720
of your mouth or that a person sees or hears

182
00:10:26.240 --> 00:10:30.679
from you or your business, and it's going to really

183
00:10:30.759 --> 00:10:34.759
identify the problem. You know, a lot of people have

184
00:10:34.879 --> 00:10:38.480
another name for it. During our interviewing process. People are

185
00:10:38.519 --> 00:10:43.279
called it the hook. And you know, it's okay to

186
00:10:43.360 --> 00:10:46.879
call it a hook, but I can. But when when

187
00:10:46.919 --> 00:10:50.120
business owners are thinking about a hook, they're not really

188
00:10:50.159 --> 00:10:57.399
focusing on the problem, and that's why their hook fails. Interesting, yeah,

189
00:10:57.440 --> 00:11:00.399
and I've noticed that in a number of situations when

190
00:11:02.000 --> 00:11:05.399
you know, they said, well, well, isn't it just a hook. No,

191
00:11:05.559 --> 00:11:08.279
it's actually the problem and you've got to dig deep

192
00:11:08.440 --> 00:11:13.919
into that problem. The second step of the conversion formula

193
00:11:14.039 --> 00:11:19.039
is called fascinate. And now that we've interrupted the prospect

194
00:11:19.159 --> 00:11:23.559
with the problem, we have to keep their attention and

195
00:11:23.639 --> 00:11:26.960
we have to actually engage them with a sub headline

196
00:11:27.080 --> 00:11:29.440
or the second thing they see which happens to be

197
00:11:29.559 --> 00:11:33.320
the solution to that problem that they can't find.

198
00:11:33.759 --> 00:11:35.559
And in our view.

199
00:11:36.240 --> 00:11:40.600
And we've seen this tested successfully many times, this is

200
00:11:40.639 --> 00:11:43.840
how you enter the conversation the prospects are having in

201
00:11:43.879 --> 00:11:47.480
their minds, so to captivate and fascinate.

202
00:11:48.080 --> 00:11:48.399
Great.

203
00:11:48.440 --> 00:11:51.360
So, Michael, I mean we're getting a nice stream of

204
00:11:51.480 --> 00:11:55.159
questions here, so let's just maybe do two quick questions

205
00:11:55.879 --> 00:12:00.799
from the stream. So one question is on the captivating

206
00:12:00.840 --> 00:12:04.000
the fascinate. This point about how you've got to make

207
00:12:04.039 --> 00:12:06.159
sure you're solving the right problem.

208
00:12:06.519 --> 00:12:08.440
How do you find that right problem?

209
00:12:08.759 --> 00:12:12.320
Okay, that's an excellent question. It starts.

210
00:12:12.399 --> 00:12:15.480
I can give you the starting point, okay, because we

211
00:12:15.639 --> 00:12:20.879
actually we actually go through a anywhere from a thirteen

212
00:12:20.960 --> 00:12:25.519
to fifteen week process in identifying it. But I can

213
00:12:25.600 --> 00:12:29.519
tell you what the key element is. It's it's called

214
00:12:29.519 --> 00:12:36.039
a customer avatar. And I have seen several customer avatars

215
00:12:36.519 --> 00:12:37.279
that aren't.

216
00:12:37.080 --> 00:12:37.759
Hitting the mark.

217
00:12:38.799 --> 00:12:42.919
And they're not hitting the mark because they're not focusing

218
00:12:43.000 --> 00:12:46.399
on the emotional component of their of the customer number

219
00:12:46.399 --> 00:12:51.039
one and number two. They're not talking to one person.

220
00:12:52.039 --> 00:12:56.399
Interesting that that right there, that not talking to one

221
00:12:56.480 --> 00:13:01.519
person is the critical component in preparing an avatar. You

222
00:13:01.639 --> 00:13:05.120
need to talk to one person. Many business owners talk

223
00:13:05.200 --> 00:13:09.440
to a demographic. You need to talk to one person.

224
00:13:09.960 --> 00:13:13.120
You need to feel what that person is feeling. You

225
00:13:13.200 --> 00:13:20.279
need to figure out and describe how that person views

226
00:13:20.360 --> 00:13:26.879
your industry, and then how that person describes and views

227
00:13:27.039 --> 00:13:29.080
your particular product.

228
00:13:30.480 --> 00:13:33.000
Yeah. I would imagine that kind of a process really

229
00:13:33.039 --> 00:13:36.879
brings the problem to life, really brings the challenge to life. Yeah,

230
00:13:37.240 --> 00:13:39.919
very interesting, Michael. The last kind of really quick question

231
00:13:39.960 --> 00:13:42.879
just on this stream. So it's interesting, right.

232
00:13:42.879 --> 00:13:43.320
I mean.

233
00:13:44.799 --> 00:13:47.519
A lot of business owners they hear what you're saying

234
00:13:47.720 --> 00:13:51.919
and they think of the ways that they describe their

235
00:13:51.960 --> 00:13:54.639
competitive advantage. So that was kind of the phrase that

236
00:13:54.679 --> 00:13:57.159
they use here. So how would you with a captivate

237
00:13:57.279 --> 00:14:01.279
or fascinate describe your competitive advantage you know, your lower

238
00:14:01.320 --> 00:14:05.360
prices or the fact that you have really quick delivery time.

239
00:14:06.679 --> 00:14:08.879
Okay, excellent, excellent question.

240
00:14:09.000 --> 00:14:12.039
So there's this concept that we have put together in

241
00:14:12.080 --> 00:14:16.480
our book, uhhould be called I hope so marketing. Hmmm,

242
00:14:17.519 --> 00:14:22.200
where where the customer on most of the marketing that's

243
00:14:22.200 --> 00:14:26.200
out there today, the one the marketing that your competitors

244
00:14:26.240 --> 00:14:30.840
are doing, the marketing that you are probably doing, is

245
00:14:30.879 --> 00:14:34.519
I hope so marketing. And what I mean by I

246
00:14:34.519 --> 00:14:37.440
hope so is that the customer is saying, I hope

247
00:14:37.480 --> 00:14:41.480
so when you talk about the largest selection, or the

248
00:14:41.519 --> 00:14:44.720
lower prices or the best.

249
00:14:44.399 --> 00:14:48.399
Service, I mean, who wouldn't do business with.

250
00:14:48.559 --> 00:14:52.320
Somebody who's who's who would do business with somebody who's

251
00:14:52.360 --> 00:14:53.480
offering lousy service.

252
00:14:56.200 --> 00:14:58.039
So they're saying to themselves, if you.

253
00:14:58.000 --> 00:15:02.639
Say best service, great serviervis five star customer service, they're saying.

254
00:15:02.919 --> 00:15:03.279
I hope.

255
00:15:03.320 --> 00:15:08.159
So yeah, I hope. So that's really interesting, and.

256
00:15:08.120 --> 00:15:15.840
So it what's more important is their problem, their problem.

257
00:15:15.919 --> 00:15:19.159
They don't care about your They don't care about how

258
00:15:19.240 --> 00:15:22.559
great you're you're boasting about your service. They don't care

259
00:15:22.559 --> 00:15:25.960
how great you're boasting even about your product. They don't

260
00:15:25.960 --> 00:15:28.840
care how great you're boasting about having great selection or

261
00:15:28.840 --> 00:15:35.519
being professional or having quality. They care about their problem.

262
00:15:35.759 --> 00:15:39.360
And that's why the conversion formula is so effective nice

263
00:15:39.799 --> 00:15:43.639
because it isolates that problem and it can't be a

264
00:15:43.679 --> 00:15:46.799
generic problem. It can't be a generic problem that everybody

265
00:15:46.840 --> 00:15:48.600
can solve. You know, a lot of painters will say, well,

266
00:15:48.600 --> 00:15:53.039
the problem my customer has is the customer can't select

267
00:15:53.080 --> 00:15:57.559
the right color paint. Well, every painter can help you

268
00:15:57.720 --> 00:15:59.200
select the right color paint.

269
00:16:00.120 --> 00:16:01.639
That's not really the problem.

270
00:16:03.159 --> 00:16:05.559
And that's why you have to go into perception of

271
00:16:05.600 --> 00:16:08.480
the industry, and you have to go into the deep.

272
00:16:08.360 --> 00:16:09.879
Rooted emotional.

273
00:16:10.879 --> 00:16:15.480
Feelings of your customer and the customer avatar is the

274
00:16:15.519 --> 00:16:19.679
first step and an important step to do that.

275
00:16:20.639 --> 00:16:24.919
Very helpful, Yeah, Michael, Yeah, please, thank.

276
00:16:24.799 --> 00:16:26.000
You, thank you. Yeah.

277
00:16:26.039 --> 00:16:29.320
So, the first two parts of the conversion formula that

278
00:16:29.399 --> 00:16:32.399
we believe are the case of successful marketing once again,

279
00:16:32.559 --> 00:16:36.120
is to captivate and fascinate. And if they're not doing

280
00:16:36.159 --> 00:16:39.519
their job, you never get to the third and fourth part.

281
00:16:39.840 --> 00:16:41.519
We'll talk about the third and fourth part, but you

282
00:16:41.559 --> 00:16:44.360
never get there until listening to the first two parts.

283
00:16:44.399 --> 00:16:46.879
Are right, and we have a name for the first

284
00:16:46.919 --> 00:16:50.559
two parts of the conversion formula, the captivat and fascinate.

285
00:16:50.960 --> 00:16:53.799
Our name for it is a position of market dominance.

286
00:16:53.840 --> 00:16:55.759
So if you hear us talk about a position of

287
00:16:55.759 --> 00:17:02.039
market dominance, that translates to the first two components of

288
00:17:02.080 --> 00:17:06.160
the of the conversion formula, to captivate and the fascinate.

289
00:17:07.680 --> 00:17:13.920
So now the third component of the conversion formula is educate. Now,

290
00:17:14.400 --> 00:17:21.119
now that we've captivated and fascinated the prospect, we've interrupted

291
00:17:21.160 --> 00:17:24.400
them and engaged them, if you will, we now have

292
00:17:24.519 --> 00:17:29.920
the time to educate them more on what how we

293
00:17:30.000 --> 00:17:33.640
go about solving that problem. Okay, now we're able to

294
00:17:33.680 --> 00:17:36.519
take more time. Sometimes we do it in the form

295
00:17:36.559 --> 00:17:38.880
of a video. Sometimes we do it in the form

296
00:17:39.000 --> 00:17:41.920
of a of a two minutes added to it, to

297
00:17:42.000 --> 00:17:47.319
a phone conversation. Sometimes, uh, you know, we we do

298
00:17:47.400 --> 00:17:51.920
it with text. So there's a variety of ways to

299
00:17:52.160 --> 00:17:57.759
educate the prospect. And sometimes I think this is important too.

300
00:17:57.839 --> 00:17:58.119
Chicky.

301
00:17:58.200 --> 00:18:03.359
Sometimes doesn't happen on the same day. Sometimes you interrupt,

302
00:18:03.799 --> 00:18:08.599
I'm sorry. Sometimes you captivate and fascinate the the the

303
00:18:08.799 --> 00:18:12.319
prospect you you you share with them your position of

304
00:18:12.440 --> 00:18:17.200
market dominance, and maybe a couple of days down the

305
00:18:17.279 --> 00:18:20.400
road or weeks down the road, now that you've got

306
00:18:20.400 --> 00:18:23.559
them on the buyer's journey, you begin you begin to

307
00:18:23.640 --> 00:18:28.640
educate them. So it's not necessarily at the same time,

308
00:18:29.279 --> 00:18:32.160
I think that's an important component about the conversion formula.

309
00:18:32.839 --> 00:18:36.319
Yeah, so look, uh, a couple of comments just start

310
00:18:36.400 --> 00:18:39.039
streamed in Michael, this idea of a one call close.

311
00:18:40.039 --> 00:18:41.839
So it looks like there are probably some sales folks

312
00:18:41.880 --> 00:18:44.200
that are on so they're asking about a one call close.

313
00:18:44.400 --> 00:18:46.759
How does this fit with a one call close.

314
00:18:47.759 --> 00:18:51.240
Well, if it's the exact same way, your your your customer,

315
00:18:51.480 --> 00:18:54.319
whoever it is warm cold.

316
00:18:54.799 --> 00:18:55.680
It doesn't matter.

317
00:18:55.880 --> 00:18:59.440
They have a problem, yep, and they care about one

318
00:18:59.559 --> 00:19:02.759
thing and that's solving that problem.

319
00:19:02.799 --> 00:19:03.279
Correct.

320
00:19:03.599 --> 00:19:08.599
So whether it's a warm introduction, cold introduction, it doesn't

321
00:19:08.640 --> 00:19:13.079
matter if you identify, if you are able to identify

322
00:19:13.119 --> 00:19:16.160
the problem that your customer has, and there's a process

323
00:19:16.160 --> 00:19:18.319
for that. And as I mentioned earlier, it starts with

324
00:19:18.359 --> 00:19:22.160
the it starts with the avatar. Then you have the

325
00:19:22.200 --> 00:19:26.799
best chance of turning that prospect into a customer.

326
00:19:27.880 --> 00:19:31.680
Really interesting and two questions just related to that. So

327
00:19:32.359 --> 00:19:34.440
this process could be part of a one call close

328
00:19:34.519 --> 00:19:37.799
where in one phone conversation you could go through the captivate,

329
00:19:38.400 --> 00:19:40.480
the fascinate, and then the educate.

330
00:19:40.200 --> 00:19:41.359
And make your offer.

331
00:19:42.440 --> 00:19:44.880
Or it could be or it could be a multi

332
00:19:44.920 --> 00:19:47.640
week or multi month or even a multi year process.

333
00:19:47.839 --> 00:19:52.359
Correct, absolutely absolutely, And that's being strategic in your marketing.

334
00:19:52.799 --> 00:19:56.720
That's not drive by shooting. That's not you know, that's

335
00:19:56.839 --> 00:19:59.920
not you know, uh, slamm and slamming.

336
00:20:00.039 --> 00:20:03.839
What speaking and prays that's one of the ones and prey,

337
00:20:05.359 --> 00:20:05.880
I like that.

338
00:20:06.119 --> 00:20:08.960
I didn't heard that. That's that's good.

339
00:20:09.640 --> 00:20:12.480
But yeah, it's a it's a it's a process, and

340
00:20:12.519 --> 00:20:17.279
it's being strategic. That's the key word here. You'll find

341
00:20:17.519 --> 00:20:22.200
that you're being strategic with both the conversion formula and

342
00:20:22.279 --> 00:20:26.000
the buyer's journey. Interesting and we'll get more into the

343
00:20:26.039 --> 00:20:28.839
buyer's journey in a minute, but I just want to

344
00:20:28.400 --> 00:20:31.119
uh to finish the UH the conversion formula.

345
00:20:31.279 --> 00:20:34.559
There's any other questions chooky now through Okay, because the

346
00:20:34.640 --> 00:20:36.119
questions are a priority for sure.

347
00:20:38.279 --> 00:20:41.880
So then the fourth component of a of of the

348
00:20:41.880 --> 00:20:45.920
conversion formula is we always end the conversion formula with

349
00:20:46.000 --> 00:20:50.799
an offer, and that offer has to be so compelling

350
00:20:51.480 --> 00:20:54.759
and so irresistible that the prospect would be foolish not

351
00:20:54.839 --> 00:20:59.240
to take it. And as we talked about last week,

352
00:21:00.640 --> 00:21:05.000
there are five components to a compelling offer, and the

353
00:21:05.079 --> 00:21:09.400
first is scarcity an urgency. You know, the offer ends

354
00:21:09.440 --> 00:21:13.440
tomorrow or so there's a time limit on the offer,

355
00:21:14.440 --> 00:21:16.000
or you only.

356
00:21:15.839 --> 00:21:17.480
Have three widgets left.

357
00:21:18.079 --> 00:21:20.799
You know, there's either there's either a time limit or

358
00:21:20.799 --> 00:21:24.359
there's a quantity limit correct of what you have available.

359
00:21:25.480 --> 00:21:27.960
That's scarcity in urgency. And by the way, it's a

360
00:21:28.119 --> 00:21:31.599
very important to note that if you can combine all

361
00:21:31.759 --> 00:21:35.400
five components of a compelling offer, you don't have to.

362
00:21:36.240 --> 00:21:37.960
You could do it with just one component.

363
00:21:39.079 --> 00:21:42.359
But if you can combine all five components of a

364
00:21:42.400 --> 00:21:48.400
compelling offer, it makes your offer that much better. The

365
00:21:48.440 --> 00:21:51.720
second component is a risk reversal, where the seller in

366
00:21:51.759 --> 00:21:54.480
the transaction takes all or most of the risk.

367
00:21:55.680 --> 00:21:56.079
Okay.

368
00:21:56.680 --> 00:21:59.400
I have given in the past my ski business example

369
00:21:59.480 --> 00:22:04.279
where we offered a ski guarantee ski the ski three times,

370
00:22:04.920 --> 00:22:06.559
you don't like it, bring it back for a brand

371
00:22:06.640 --> 00:22:11.599
new pair. We we took all the risk because once

372
00:22:11.599 --> 00:22:16.880
a ski gets skied on, it appreciates dramatically. So the

373
00:22:16.920 --> 00:22:21.920
third component of a compelling offer is adding low cost

374
00:22:22.039 --> 00:22:26.160
but high value to your product or service. So I

375
00:22:26.240 --> 00:22:29.039
can give you an example of that. It's not a

376
00:22:29.079 --> 00:22:32.440
real life example for me, but for me, but I've

377
00:22:32.440 --> 00:22:37.400
seen this uh other business owners uh given a show

378
00:22:37.799 --> 00:22:41.160
this type of of thought process where it comes to

379
00:22:41.240 --> 00:22:42.359
adding more value.

380
00:22:42.519 --> 00:22:47.480
Okay. So let's say, uh.

381
00:22:46.160 --> 00:22:49.480
You're you're selling popcorn in a bag, and let's just

382
00:22:49.480 --> 00:22:52.839
say yourself a five bucks just to use a number, okay,

383
00:22:53.960 --> 00:22:58.039
and let's say for packaging you put Uh, you decide

384
00:22:58.519 --> 00:23:00.720
that you want to add more value by putting the

385
00:23:00.759 --> 00:23:03.279
popcorn in a plastic reusable container.

386
00:23:04.599 --> 00:23:11.640
Now that costs you one dollar more so, and in all.

387
00:23:11.480 --> 00:23:16.440
Likelihood, though the perceived value of that packaging will likely

388
00:23:16.480 --> 00:23:19.160
allow you to increase the retail price of the popcorn

389
00:23:19.240 --> 00:23:23.640
to seven dollars. So you can increase your selling price

390
00:23:23.720 --> 00:23:27.039
by two dollars with just one dollar of additional cost.

391
00:23:27.359 --> 00:23:30.240
That's adding more value because what you've done is you've

392
00:23:30.279 --> 00:23:32.680
taken the bag, which is what they throw away, and

393
00:23:32.720 --> 00:23:36.880
you made it into a reusable plastic container that they

394
00:23:36.880 --> 00:23:39.519
can put flowers in or do whatever they want with

395
00:23:39.559 --> 00:23:44.160
it store store candy, or whatever they want to do

396
00:23:44.240 --> 00:23:47.079
with it. And that adds more value to the product

397
00:23:47.160 --> 00:23:47.680
or service.

398
00:23:47.759 --> 00:23:48.920
It's really interesting.

399
00:23:49.599 --> 00:23:52.720
Wow, I actually have I actually have another example.

400
00:23:52.759 --> 00:23:56.480
So a toothpaste company, uh huh could put a QR

401
00:23:56.599 --> 00:23:59.519
code on their tube, not the box itself, but the

402
00:23:59.559 --> 00:24:02.480
tube of two paste that leads to a video that

403
00:24:02.599 --> 00:24:05.440
shows people four areas inside their mouths that are most

404
00:24:05.880 --> 00:24:07.599
neglected while they're brushing their teeth.

405
00:24:08.200 --> 00:24:10.920
Ah yeah, some good customer insights.

406
00:24:11.160 --> 00:24:13.319
Yeah, and just adding more value.

407
00:24:13.680 --> 00:24:16.079
And there's ways to do it, and the cost of

408
00:24:16.119 --> 00:24:21.000
that is negligible, negligible. So the key is to find

409
00:24:21.079 --> 00:24:25.039
ways for no cost that you could actually are very

410
00:24:25.079 --> 00:24:28.319
low costs that you could actually add more value to

411
00:24:28.359 --> 00:24:31.599
your product or service. Making it more attractive to the

412
00:24:31.640 --> 00:24:32.440
customer to buy.

413
00:24:32.960 --> 00:24:35.279
It's interesting, just had a nice coming come in. So

414
00:24:35.440 --> 00:24:37.279
is it a perception dynamic?

415
00:24:37.400 --> 00:24:37.559
Right?

416
00:24:37.720 --> 00:24:39.240
They perceive.

417
00:24:40.519 --> 00:24:44.160
That there's more value there than given that perception, like

418
00:24:44.200 --> 00:24:48.839
you can maybe raise your rates or up the fees at.

419
00:24:49.200 --> 00:24:52.440
Absolutely great, Absolutely it is.

420
00:24:53.039 --> 00:24:58.079
Now if you do your customer avatar correctly, you'll know

421
00:24:59.160 --> 00:25:01.960
whether or not you'll know what value.

422
00:25:01.640 --> 00:25:03.000
To add exactly.

423
00:25:03.599 --> 00:25:08.640
Okay, because you understand your customer so well that you

424
00:25:08.759 --> 00:25:11.559
know what they perceive as value exactly.

425
00:25:11.720 --> 00:25:12.279
Very helpful.

426
00:25:14.079 --> 00:25:17.519
So then the fourth component of compelling offer is packaging

427
00:25:17.559 --> 00:25:22.359
and bundling multiple products and services together. When I when

428
00:25:22.359 --> 00:25:25.880
I was in the ski business, everybody, everybody bundled ski packages.

429
00:25:26.359 --> 00:25:29.680
They called it ski package. They bundled skis, bindings and polls.

430
00:25:31.480 --> 00:25:34.359
But what we did is we also bundled clothing.

431
00:25:35.559 --> 00:25:36.839
So uh, a.

432
00:25:36.759 --> 00:25:40.000
Parker, a ski ski pant, a hat and a sweater

433
00:25:40.480 --> 00:25:44.039
and they flew out the door. Once again, the perception

434
00:25:44.160 --> 00:25:47.039
of the of that customer was that when you put

435
00:25:47.079 --> 00:25:50.240
things together, it costs less.

436
00:25:53.000 --> 00:25:54.240
And what's beautiful.

437
00:25:53.839 --> 00:25:58.319
About it is it it increases that ticket for the

438
00:25:58.319 --> 00:26:02.799
business owner. It increased the sale price when you bundle

439
00:26:02.880 --> 00:26:07.400
these things together. And then the fifth component of a

440
00:26:07.400 --> 00:26:12.960
compelling offer is in difference to the outcome. What's interesting

441
00:26:13.000 --> 00:26:16.680
about this, and we all do it, is many times

442
00:26:17.599 --> 00:26:22.160
that we press to make a sale and the prospect

443
00:26:22.200 --> 00:26:26.519
can tell when we're pressing, and as a result, they

444
00:26:26.559 --> 00:26:31.519
surmise that they don't have that you don't have the

445
00:26:31.519 --> 00:26:35.640
customer's best interest in mind, and that means that you're

446
00:26:35.680 --> 00:26:40.799
on different sides of the table. So by being indifferent

447
00:26:40.839 --> 00:26:43.960
to the outcome, it puts you in your prospect on

448
00:26:44.039 --> 00:26:45.359
the same side of the table.

449
00:26:46.279 --> 00:26:48.440
You know what that reminds me of, Michael. It reminds

450
00:26:48.440 --> 00:26:52.440
me of being a trusted advisor even before the contract assigned,

451
00:26:52.759 --> 00:26:56.200
right right where they see you as a trusted advisor

452
00:26:56.240 --> 00:26:59.480
because to use your imagery, they are on the same

453
00:26:59.519 --> 00:27:00.880
side of the table as you're on.

454
00:27:01.079 --> 00:27:02.920
So, Michael, that's a really good point.

455
00:27:03.440 --> 00:27:09.079
And what was interesting is that like like ways to

456
00:27:09.160 --> 00:27:16.759
do that giving the customer parameters on why they on

457
00:27:17.079 --> 00:27:21.480
who you'll accept as a customer. Ah, yeah, I just

458
00:27:21.519 --> 00:27:22.519
did that today as a.

459
00:27:22.480 --> 00:27:23.079
Matter of fact.

460
00:27:23.359 --> 00:27:28.079
Interesting, So you're qualifying them while they're qualifying you.

461
00:27:27.720 --> 00:27:31.160
That's right, that's being indifferent because you're going to say

462
00:27:31.160 --> 00:27:35.799
some things that potentially they don't they potentially they don't

463
00:27:35.839 --> 00:27:40.880
qualify and that's going to help you in the long run, correct,

464
00:27:40.920 --> 00:27:43.359
because you're going to waste a lot of time, effort, energy.

465
00:27:44.039 --> 00:27:46.400
But but but you have to make sure that you

466
00:27:46.519 --> 00:27:50.599
do the qualifications too. And that comes across that you

467
00:27:50.640 --> 00:27:55.240
are indifferent, that you really care about the customer and

468
00:27:55.279 --> 00:27:57.880
the prospect, and yet you're on the same side of

469
00:27:57.880 --> 00:28:03.920
the table as the prospect. Really remarkable, and getting to

470
00:28:04.000 --> 00:28:06.839
know that person that prospect in terms of their inspiration

471
00:28:06.920 --> 00:28:09.160
and goals really helps in this process as well.

472
00:28:09.519 --> 00:28:12.440
Yes, Yes, and.

473
00:28:13.960 --> 00:28:16.319
The technique to do that, Michael, really quickly, because I've

474
00:28:16.319 --> 00:28:16.839
got to pick.

475
00:28:16.720 --> 00:28:17.319
Your brain on this.

476
00:28:17.400 --> 00:28:19.599
I mean, you're just you're on fire with insights. I

477
00:28:20.000 --> 00:28:21.839
I'm running out of ink on my pen, Michael.

478
00:28:21.880 --> 00:28:23.279
I just want you to know. I think it's a

479
00:28:23.279 --> 00:28:24.079
really good notes here.

480
00:28:24.599 --> 00:28:27.960
So give me a sense, like how would you get

481
00:28:28.000 --> 00:28:31.240
to that inspiration? How would you get to that goal for.

482
00:28:31.240 --> 00:28:32.359
The one thing you have to do?

483
00:28:32.440 --> 00:28:35.599
It depends what you're selling, but it or what you're

484
00:28:35.799 --> 00:28:38.720
what business you're in. But if you're in a person

485
00:28:38.759 --> 00:28:43.960
the person, if you're sales processes person the person, then

486
00:28:44.000 --> 00:28:45.920
you can ask them what their number one goal is.

487
00:28:46.359 --> 00:28:49.039
Ah, And but it goes further than that.

488
00:28:49.920 --> 00:28:53.279
It goes a lot further than that, because very often

489
00:28:54.200 --> 00:28:58.599
the first or second and second answer when a person

490
00:28:58.880 --> 00:29:02.200
says what their number one goal is isn't really their

491
00:29:02.279 --> 00:29:05.799
number one goal. So you have to ask that person

492
00:29:05.839 --> 00:29:08.640
once they say i'd like say a business owner says

493
00:29:08.680 --> 00:29:12.359
something to the effect of, well, i'd like to I'd

494
00:29:12.400 --> 00:29:14.640
like to net a million dollars of net income.

495
00:29:15.359 --> 00:29:16.880
That would be my number one goal.

496
00:29:18.480 --> 00:29:23.559
And then and then a good question after that would be, well,

497
00:29:23.640 --> 00:29:27.920
if you did achieve that million dollars of net income,

498
00:29:28.039 --> 00:29:32.000
what would that do for you? And they they they

499
00:29:32.079 --> 00:29:36.039
start to really think about what it would mean.

500
00:29:37.440 --> 00:29:38.400
To achieve that.

501
00:29:38.319 --> 00:29:40.720
First, because it was only the first part of their goal.

502
00:29:40.799 --> 00:29:42.240
It's not their ultimate goal.

503
00:29:42.599 --> 00:29:43.799
Yeah.

504
00:29:44.240 --> 00:29:48.440
And what we find is that in terms of business owners,

505
00:29:48.839 --> 00:29:51.759
what we find is that most of them want one

506
00:29:52.119 --> 00:30:00.160
or more of three things, either time, freedom, consistent profit it,

507
00:30:01.880 --> 00:30:06.240
or building a legacy to their family, something that that

508
00:30:06.480 --> 00:30:10.640
generations in the future will remember it.

509
00:30:10.880 --> 00:30:12.880
Very powerful, Michael, very powerful.

510
00:30:12.960 --> 00:30:13.119
Yeah.

511
00:30:13.160 --> 00:30:16.119
And so those are usually the three things now, and

512
00:30:16.160 --> 00:30:22.200
that's only obtained by digging deep, uh into the into

513
00:30:22.240 --> 00:30:25.799
their number one goal. But if you're if you're selling

514
00:30:25.880 --> 00:30:28.720
other products and services where you don't interact with the

515
00:30:28.759 --> 00:30:32.720
customer as well, this is where the customer avatar comes

516
00:30:32.759 --> 00:30:37.279
in and understanding what their goals and inspirations are, Understanding what.

517
00:30:37.160 --> 00:30:40.400
Their number one goal is. Interesting, Maybe you have to

518
00:30:40.440 --> 00:30:43.160
interview customers and ask the right.

519
00:30:44.319 --> 00:30:47.880
Because you've done your homework, You've put in the the

520
00:30:47.960 --> 00:30:51.400
resources and the investments to really get kind of that

521
00:30:51.599 --> 00:30:56.079
avatar picture. You know, it's almost like, uh, each time

522
00:30:56.079 --> 00:30:58.759
we discussed this, Michael and I continue to think through

523
00:30:58.759 --> 00:31:01.160
this idea of a customer avatar are I almost see

524
00:31:01.160 --> 00:31:05.039
it as like a picture with pixels right where we're

525
00:31:05.119 --> 00:31:07.680
just getting more and more pixels into the picture where

526
00:31:07.720 --> 00:31:11.079
it's almost going from like a regular image to like

527
00:31:11.119 --> 00:31:12.839
an ultra HD image.

528
00:31:12.920 --> 00:31:13.039
Right.

529
00:31:13.079 --> 00:31:13.799
So, what you're.

530
00:31:13.599 --> 00:31:16.039
Saying is you've got to get to the level where

531
00:31:16.200 --> 00:31:19.279
your customer avatar as part of your business, whether it's

532
00:31:19.279 --> 00:31:23.079
its services, business products, business, you've got persons a person

533
00:31:23.160 --> 00:31:27.519
interaction or limited personal interaction. It's almost like an ultra

534
00:31:27.720 --> 00:31:30.519
HD image in your understanding.

535
00:31:29.920 --> 00:31:33.000
Of absolutely really interesting.

536
00:31:33.119 --> 00:31:38.480
Absolutely, and it picks out things like their goals and aspirations.

537
00:31:38.759 --> 00:31:42.680
Yes, and you know I know if you're selling pencils.

538
00:31:42.680 --> 00:31:45.759
Okay, you have to you have to get deep into

539
00:31:46.759 --> 00:31:48.680
you know, and you can and you can center their

540
00:31:48.759 --> 00:31:52.079
number one goal around your product. Exactly what is their

541
00:31:52.160 --> 00:31:55.519
number one goal regarding a pencil? You know, what do

542
00:31:55.559 --> 00:31:57.400
they want to achieve? Some people want to do it

543
00:31:57.400 --> 00:32:00.680
for marketing purposes, right, you know, to put the on

544
00:32:00.759 --> 00:32:02.799
the pencil. Some people want to do it just for

545
00:32:03.160 --> 00:32:06.039
for good writing. Some people want to have good erasers.

546
00:32:06.519 --> 00:32:08.240
I mean taking a pencil.

547
00:32:08.599 --> 00:32:09.039
Yes I have.

548
00:32:09.319 --> 00:32:12.319
I have a client who sells pencils that has a

549
00:32:12.559 --> 00:32:13.839
patented seed on.

550
00:32:13.880 --> 00:32:16.160
The end of it instead of an eraser. Mmm.

551
00:32:16.519 --> 00:32:18.799
And so you you write with a pencil. When it's finished,

552
00:32:18.799 --> 00:32:20.279
you turn around, you put it in the ground. You

553
00:32:20.319 --> 00:32:24.480
grow basil, tomatoes, flowers and anything.

554
00:32:25.559 --> 00:32:25.759
Yeah.

555
00:32:25.839 --> 00:32:29.519
So I mean talk about adding more value to your

556
00:32:29.519 --> 00:32:31.440
product or service, right.

557
00:32:31.759 --> 00:32:35.079
Absolutely, and in some ways to it just it's beyond the sale,

558
00:32:35.240 --> 00:32:41.039
Like you're you're getting into the lifestyle and the philosophy

559
00:32:41.119 --> 00:32:42.319
of these.

560
00:32:42.799 --> 00:32:43.599
Clients and cousins.

561
00:32:43.640 --> 00:32:49.400
Especially if someone's really interested in sustainable practices to impact

562
00:32:49.640 --> 00:32:54.039
the environments in a positive way, You've identify that, and yeah,

563
00:32:54.279 --> 00:32:57.400
they become really long term relationship. So Michael, This is

564
00:32:57.400 --> 00:33:00.319
interesting and I'm glad the conversation pivoted into this point

565
00:33:00.359 --> 00:33:04.119
about identifying that number one goal and those sort of

566
00:33:04.160 --> 00:33:08.920
inspirations and aspirations. The more I think about this too,

567
00:33:08.960 --> 00:33:10.440
and I've got a question for you related to this.

568
00:33:10.599 --> 00:33:13.319
Is this where your definition of the buyer's journey really

569
00:33:13.319 --> 00:33:18.559
comes in. So understanding that sort of customer avatar and

570
00:33:18.599 --> 00:33:21.480
that customer profile allows you to then take them on

571
00:33:21.519 --> 00:33:24.640
the journey based on things that you understand about them.

572
00:33:24.720 --> 00:33:26.319
Is that part of what you're getting at.

573
00:33:26.319 --> 00:33:29.240
Part of what I get ye, Because when we begin

574
00:33:29.319 --> 00:33:33.200
to talk about the buyer's journey, we really start talking

575
00:33:33.240 --> 00:33:36.160
about tactical marketing, okay.

576
00:33:35.960 --> 00:33:37.839
Versus strategic marketing.

577
00:33:38.759 --> 00:33:43.440
You see, tactical marketing is running ads, being particular on

578
00:33:43.519 --> 00:33:47.319
where you run the ads, stewing over colors and fonts,

579
00:33:47.359 --> 00:33:50.079
and bragging about price experience all that.

580
00:33:50.160 --> 00:33:51.960
Hope, I hope, so stuffed, yep.

581
00:33:53.079 --> 00:33:56.200
But marketing needs to be strategic, which means it's the

582
00:33:56.359 --> 00:34:00.200
messaging that's important, Okay, And the conversion for me, your

583
00:34:00.480 --> 00:34:03.319
formula allows you to be strategic and does the heavy

584
00:34:03.359 --> 00:34:05.799
lifting for you by getting into the mind of the

585
00:34:05.839 --> 00:34:10.199
prospect and identifying and solving their problems. Now, most people

586
00:34:10.280 --> 00:34:13.840
don't understand this, and as a result, vair marketing requires

587
00:34:13.840 --> 00:34:19.320
more repetition and more money to be minimally effective. So

588
00:34:19.559 --> 00:34:23.480
let's talk about another strategic marketing play that plays off

589
00:34:23.599 --> 00:34:27.400
of the conversion formula, and that is the buyer's journey. Okay,

590
00:34:28.119 --> 00:34:31.960
And so what exhaustive studies have shown us is that

591
00:34:32.039 --> 00:34:36.519
only one to three percent of potential buyers in any

592
00:34:36.559 --> 00:34:40.559
market or any industry are ready to buy at any

593
00:34:40.719 --> 00:34:41.639
given moment.

594
00:34:43.480 --> 00:34:44.760
So I need that to sink in.

595
00:34:46.000 --> 00:34:50.320
Only one to three percent of potential buyers in any market,

596
00:34:50.840 --> 00:34:55.519
any industry are ready to buy at any given moment.

597
00:34:56.000 --> 00:34:59.039
So right now, in any industry, there's only one to

598
00:34:59.119 --> 00:35:01.519
three percent of that of that population.

599
00:35:01.920 --> 00:35:02.280
Mm hmm.

600
00:35:02.559 --> 00:35:07.440
That's ready to buy now, m hm. And so the

601
00:35:07.559 --> 00:35:12.239
studies have shown this is true in any industry, uh you.

602
00:35:12.320 --> 00:35:15.039
And so as far as the business owners out there

603
00:35:15.079 --> 00:35:19.559
goes you and all your competitors are going after the

604
00:35:19.599 --> 00:35:21.840
one to three percent hm hmm.

605
00:35:22.920 --> 00:35:26.320
Michael, Look you we are getting a number of all

606
00:35:26.400 --> 00:35:29.239
caps comments and reactions to that.

607
00:35:29.280 --> 00:35:31.760
I mean, I think you've you've you've struck a nerve

608
00:35:31.880 --> 00:35:32.159
with that.

609
00:35:33.239 --> 00:35:37.559
Yeah, yeah, So and then yeah, oh yeah. If somebody

610
00:35:37.559 --> 00:35:38.239
have a question.

611
00:35:38.079 --> 00:35:40.840
Too, Yeah, yeah, just a related question on that.

612
00:35:40.920 --> 00:35:46.440
It's so, does that mean the addressable market is the

613
00:35:46.559 --> 00:35:49.679
ninety seven and ninety nine percent? If everyone's going after

614
00:35:49.679 --> 00:35:52.840
the one to three percent and it seems like this

615
00:35:52.840 --> 00:35:54.880
business owners ask him just for their business, is my

616
00:35:55.000 --> 00:35:57.239
opportunity the ninety seven to ninety nine percent?

617
00:35:57.519 --> 00:36:03.480
Absolutely, because I ask, well, well, if there's only one

618
00:36:03.480 --> 00:36:06.119
to three percent active buyers, what about the ninety seven

619
00:36:06.119 --> 00:36:08.960
to ninety ninety percent of people who desire your product

620
00:36:09.039 --> 00:36:12.199
or service that you offer, but they're not just ready yet,

621
00:36:12.679 --> 00:36:16.880
they're not ready Like QBC when I called them, they

622
00:36:17.519 --> 00:36:21.559
were pretty far from being ready. Yeah, you know that.

623
00:36:21.559 --> 00:36:25.760
That's a great example because they I put them on

624
00:36:25.800 --> 00:36:28.320
the buyer. Once I found the buyer, I put them

625
00:36:28.400 --> 00:36:33.119
on the buyer's journey. And so that ninety seven to

626
00:36:33.199 --> 00:36:36.519
ninety nine percent of your addressable market is on this journey.

627
00:36:37.039 --> 00:36:39.719
And when you think about it, while everyone is scrambling

628
00:36:39.760 --> 00:36:42.440
to go after the one to three percent, how about

629
00:36:42.519 --> 00:36:46.679
being strategic and go after the ninety seven to ninety

630
00:36:46.760 --> 00:36:48.639
nine It doesn't mean you don't go after the one

631
00:36:48.679 --> 00:36:51.480
to three correct, It doesn't mean that it means that

632
00:36:51.559 --> 00:36:55.679
you are being strategic about the other part of the

633
00:36:55.719 --> 00:36:56.760
addressable market.

634
00:36:57.599 --> 00:37:01.280
Okay, so two questions related to this.

635
00:37:01.760 --> 00:37:06.039
So one you reference the QVC experience that you had.

636
00:37:06.119 --> 00:37:07.599
So it seems like there are a couple of business

637
00:37:07.599 --> 00:37:09.760
owners Michael that they want to know, what did you

638
00:37:09.920 --> 00:37:14.519
do to keep QVC or maybe keep both you and

639
00:37:14.639 --> 00:37:15.840
QVC on that journey.

640
00:37:16.679 --> 00:37:23.559
Well, thank god I kept. I didn't stop taught, you know,

641
00:37:23.599 --> 00:37:27.039
I didn't stop communicating with them. That's number one. Follow

642
00:37:27.119 --> 00:37:32.039
up because a lot of people don't follow up. And

643
00:37:32.159 --> 00:37:35.039
we'll get to that in a moment, but that's a

644
00:37:35.159 --> 00:37:38.719
big problem in a lot of businesses. Or if they

645
00:37:38.800 --> 00:37:42.039
follow up, like some business owners that we've interviewed, for example, Chooky,

646
00:37:42.119 --> 00:37:44.840
they said they yeah, we follow up, and they come

647
00:37:44.880 --> 00:37:49.119
to find out they follow up. Maybe once you know,

648
00:37:49.280 --> 00:37:52.679
the Buya's journey in the case of QBC took four years.

649
00:37:52.880 --> 00:37:56.119
That's a long journey. Many business owners would have quit.

650
00:37:56.719 --> 00:37:57.039
Yes.

651
00:37:58.559 --> 00:38:00.760
Uh And as a matter of fact, next step CFO,

652
00:38:00.920 --> 00:38:02.920
I have a client today that I've had for a

653
00:38:03.039 --> 00:38:07.639
year that I've only had them for a year, but

654
00:38:07.760 --> 00:38:11.719
I first called them in twenty eleven. So from twenty

655
00:38:11.719 --> 00:38:15.800
eleven to twenty twenty three. They were on the buyer's journey. Wow,

656
00:38:16.480 --> 00:38:19.480
and they're a client today twelve years.

657
00:38:19.880 --> 00:38:23.760
That is remarkable, Right, There's some folks that are They're like, look, Michael,

658
00:38:23.800 --> 00:38:26.599
if you've got confidence vitamins that you could recommend to me,

659
00:38:29.360 --> 00:38:30.880
that takes a lot of confidence to.

660
00:38:30.880 --> 00:38:32.199
Just stay at it.

661
00:38:34.039 --> 00:38:36.639
So maybe next step, CFO, you know, we could think

662
00:38:36.639 --> 00:38:40.840
through some confidence vitamins for you, Right, I mean that's

663
00:38:40.840 --> 00:38:41.360
what I right.

664
00:38:41.840 --> 00:38:45.800
Well, let's let's I know you're right, but let's talk

665
00:38:45.840 --> 00:38:49.880
about a more strategic approach. So okay, we're going to

666
00:38:49.920 --> 00:38:53.519
take the conversion formula yes, and combine it with the

667
00:38:53.559 --> 00:38:57.960
way that buyers buy on the buyer's journey. That can

668
00:38:58.039 --> 00:39:02.159
create a more strategical versus tactical approach. So let's go

669
00:39:02.239 --> 00:39:04.719
through that buyer's journey together, because this is what the

670
00:39:04.719 --> 00:39:10.920
buyer goes through, okay, in that information gathering process over time.

671
00:39:11.840 --> 00:39:14.199
So the first step is an awareness of the product

672
00:39:14.199 --> 00:39:17.119
the service. You know, maybe I you know, I maybe

673
00:39:17.159 --> 00:39:20.039
they knew about a particular product the service and the

674
00:39:20.079 --> 00:39:23.679
problem it solves. Maybe they didn't, but there's an awareness

675
00:39:23.719 --> 00:39:26.239
that comes about that this product is available and that

676
00:39:26.320 --> 00:39:31.360
they think they might need it, and.

677
00:39:31.519 --> 00:39:34.360
And like like thinking like a prospect for a minute.

678
00:39:34.440 --> 00:39:37.000
Let's say you know I have this problem, and then

679
00:39:37.039 --> 00:39:39.800
it creeps up from time to time, but sometimes it's

680
00:39:39.840 --> 00:39:41.920
not top of mind, and then boom, I see something

681
00:39:41.960 --> 00:39:44.159
that reminds me of the problem, and now all of

682
00:39:44.199 --> 00:39:48.880
a sudden, I'm back on this journey again. And once

683
00:39:48.920 --> 00:39:55.840
I'm aware of the product, I'm thinking too, what else

684
00:39:55.920 --> 00:39:59.639
is out there? You know, some interests how to ensue,

685
00:39:59.840 --> 00:40:02.320
and maybe some research has done as to what the

686
00:40:02.360 --> 00:40:06.239
options are. But this is can be over time. You know,

687
00:40:06.280 --> 00:40:09.000
it doesn't necessarily happen all at once. As I said,

688
00:40:09.480 --> 00:40:11.840
one of my clients was on the eleven year by

689
00:40:11.920 --> 00:40:15.559
his journey. But this is the awareness stage, and that's

690
00:40:15.599 --> 00:40:18.960
the first step of the journey. The second step is

691
00:40:19.039 --> 00:40:23.559
why should I buy? So it's now information gathering that's

692
00:40:23.599 --> 00:40:26.679
supporting the fact that it's solving a particular problem that

693
00:40:26.719 --> 00:40:30.440
they have and what are the benefits to them? You know,

694
00:40:30.480 --> 00:40:35.920
they're thinking about what are the benefits and they're compiling

695
00:40:36.079 --> 00:40:39.639
advantages and benefits of buying this particular product or service.

696
00:40:40.960 --> 00:40:46.519
The third step is why shouldn't I buy? Meaning they're

697
00:40:46.559 --> 00:40:50.760
saying to themselves, well, what you know, what are the objections?

698
00:40:50.840 --> 00:40:53.199
What are the objections? Can I afford this? Does it

699
00:40:53.239 --> 00:40:56.239
really work? What are the alternatives? Is there another way

700
00:40:56.239 --> 00:41:00.039
I could solve this problem without this? And then and

701
00:41:00.199 --> 00:41:04.079
the fourth step is who should I buy from? You know,

702
00:41:04.199 --> 00:41:07.599
I decided I'm going to buy this solution, but from Hope. Yeah,

703
00:41:08.199 --> 00:41:13.559
And so along the way buyers are gathering information. Now,

704
00:41:13.800 --> 00:41:17.639
tactical marketing is incentive based, and it's based on price

705
00:41:17.679 --> 00:41:20.480
and experience, and that can attract that one to three percent.

706
00:41:20.480 --> 00:41:23.159
And that's why some people with I Hope so marketing

707
00:41:23.239 --> 00:41:26.199
land that one to three percent. You know, they they

708
00:41:26.519 --> 00:41:29.800
they they they dropped their draws, so to speak, and

709
00:41:29.960 --> 00:41:33.360
offer a very low price. But the ninety seven to

710
00:41:33.440 --> 00:41:35.719
ninety nine percent of the people that haven't decided yet,

711
00:41:35.760 --> 00:41:39.320
they're on that journey. And so here's what our research found,

712
00:41:39.320 --> 00:41:43.320
and this is what's really important in terms of being

713
00:41:43.360 --> 00:41:48.920
strategic today. It takes anywhere from twenty to more than

714
00:41:48.960 --> 00:41:52.239
one hundred touch points before a prospect makes their buying

715
00:41:52.320 --> 00:41:53.960
decision while on the buyer's journey.

716
00:41:55.000 --> 00:41:56.480
So when I was when I.

717
00:41:56.559 --> 00:42:04.679
Was sitting QBC, it was taken this many touch it

718
00:42:04.760 --> 00:42:07.559
was taken easily easily forty or.

719
00:42:07.559 --> 00:42:08.920
Fifty touch points easily.

720
00:42:10.280 --> 00:42:13.760
However, we found that if you use the conversion formula,

721
00:42:13.840 --> 00:42:15.880
which I was not doing back then.

722
00:42:16.760 --> 00:42:18.559
To follow the prospect on the.

723
00:42:18.519 --> 00:42:23.239
Buyers journey, it reduces the touch point somewhere between five

724
00:42:23.360 --> 00:42:27.599
and twelve before you can engage the client to buy.

725
00:42:27.880 --> 00:42:30.000
All right, So, Michael, I really want to underscore that

726
00:42:30.079 --> 00:42:32.400
point because this is critical and this has come up

727
00:42:32.559 --> 00:42:34.800
in a number of our business roundtables. So what you're

728
00:42:34.840 --> 00:42:41.119
saying is pre conversion formula. So before the conversion formula,

729
00:42:41.719 --> 00:42:44.519
business owners are doing a lot of what their competition

730
00:42:44.599 --> 00:42:46.559
is doing, and it could take anywhere from twenty to

731
00:42:46.639 --> 00:42:48.000
over one hundred touch points.

732
00:42:48.960 --> 00:42:50.280
With the conversion.

733
00:42:49.840 --> 00:42:52.920
Formula, which a lot of your competition isn't doing, you

734
00:42:53.000 --> 00:42:58.920
reduce that strategically and impressively down to five to twelve.

735
00:43:00.199 --> 00:43:04.599
Not correctly, you did if you use the conversion formula, nice, okay,

736
00:43:04.639 --> 00:43:08.800
because you're identifying that problem and you're reiterating it, or

737
00:43:08.920 --> 00:43:14.480
you're or you're you're finding another way to present that problem,

738
00:43:14.519 --> 00:43:19.880
maybe in a different way, and because of that, you're

739
00:43:20.440 --> 00:43:24.119
reducing the amount of time that they're on the journey.

740
00:43:24.760 --> 00:43:27.000
And one reason is that.

741
00:43:26.920 --> 00:43:28.079
They if you.

742
00:43:28.239 --> 00:43:30.639
If you can solve their problem, then you'll be the

743
00:43:30.719 --> 00:43:33.639
vendor of choice. That's one way to cut the journey

744
00:43:33.639 --> 00:43:34.800
short exactly.

745
00:43:35.559 --> 00:43:38.599
Yeah, yeah, it's interesting now, and I know there are

746
00:43:38.599 --> 00:43:40.800
a couple of points you've got to get to, Michael,

747
00:43:40.840 --> 00:43:43.920
But look, I mean this has created quite a bit

748
00:43:43.960 --> 00:43:47.920
of comments, sary, just with the listeners and the audience.

749
00:43:48.320 --> 00:43:49.960
So there's some folks that are saying this is a

750
00:43:49.960 --> 00:43:54.280
game changer. There's some other descriptions like this is profound

751
00:43:55.039 --> 00:43:57.760
and yeah, this would save me and my team a

752
00:43:57.760 --> 00:44:00.239
lot of time. To your point, Michael, but yeah, really

753
00:44:00.280 --> 00:44:00.840
good stuff.

754
00:44:01.239 --> 00:44:04.679
Excellent, Thank thank you, Choky. So what we found, though, Chucky,

755
00:44:04.760 --> 00:44:05.519
here's something else.

756
00:44:06.079 --> 00:44:08.760
What we found is that the best way to communicate

757
00:44:08.800 --> 00:44:11.920
with a prospect while they're on the buyers journey is

758
00:44:11.960 --> 00:44:15.599
by utilizing a drip campaign. And I know that there's

759
00:44:15.800 --> 00:44:19.760
there's a lot of negativity regarding a drip campaign, but

760
00:44:20.039 --> 00:44:23.599
a drip campaign, for those who don't know, is an

761
00:44:23.639 --> 00:44:28.440
automated sequence, a value added communication that's sent directly to

762
00:44:28.480 --> 00:44:33.320
the prospect. Now, a drip campaign follows the buyer's journey

763
00:44:33.760 --> 00:44:37.400
and communicates with customers or prospects on a predetermined scheduled

764
00:44:37.400 --> 00:44:43.280
basis that nurtures the relationship as they go down the journey.

765
00:44:44.320 --> 00:44:51.599
And so it's the it is the Drip campaign that

766
00:44:51.599 --> 00:44:54.440
that we found the best way to communicate.

767
00:44:54.559 --> 00:44:58.800
It doesn't have to be okay, right, it doesn't have

768
00:44:58.920 --> 00:44:59.119
to be.

769
00:44:59.360 --> 00:45:01.719
We found that to be the best way because to

770
00:45:01.800 --> 00:45:06.199
help because it's automated. Because it's automated, it helps with

771
00:45:06.320 --> 00:45:11.559
the time factor that business owners get deeply involved in.

772
00:45:12.000 --> 00:45:15.119
Absolutely, and Michael, that clarification was important because we did

773
00:45:15.199 --> 00:45:17.920
get some pushback. There's some pushback with a number of

774
00:45:17.960 --> 00:45:20.880
folks where they're saying, I don't have the kinds of

775
00:45:20.920 --> 00:45:24.400
services of the products to make this sort of automation

776
00:45:24.920 --> 00:45:29.239
or sequence thing that you're talking about, and I don't

777
00:45:29.280 --> 00:45:30.719
know what our response is to. Then there's some other

778
00:45:30.760 --> 00:45:32.599
folks are they're saying, hey, I don't get a lot

779
00:45:32.599 --> 00:45:35.039
of business from my website or online.

780
00:45:36.000 --> 00:45:38.159
So if you're staying drip campaign and my.

781
00:45:38.159 --> 00:45:41.079
Business is not really online or through a website, I

782
00:45:41.079 --> 00:45:43.079
don't know how I could effectuate that.

783
00:45:43.159 --> 00:45:45.639
So I don't know if you've got some responses related

784
00:45:45.639 --> 00:45:45.840
to that.

785
00:45:45.920 --> 00:45:46.599
Yeah, So.

786
00:45:48.400 --> 00:45:53.000
First of all, most business owners shouldn't be using a website.

787
00:45:53.039 --> 00:45:54.800
They should be using a squeeze page.

788
00:45:55.239 --> 00:45:58.440
The website. Yeah, the website is kind of a call

789
00:45:58.480 --> 00:45:59.880
it electronic brochure.

790
00:46:00.800 --> 00:46:05.400
Okay, you know, but but but a squeeze page focuses

791
00:46:05.440 --> 00:46:11.320
on one problem and one solution, and that is where

792
00:46:12.239 --> 00:46:19.360
any business can get more opportunities or leads to their business.

793
00:46:20.159 --> 00:46:24.079
But once again, the squeeze page has to follow the

794
00:46:24.119 --> 00:46:28.679
conversion formula because if it doesn't, it's just going to

795
00:46:28.760 --> 00:46:31.760
be just another squeeze page and it's very likely that

796
00:46:32.199 --> 00:46:34.159
it's only going to attract the one to three percent.

797
00:46:34.880 --> 00:46:37.639
Yeah, I mean, Michael, this is just so insightful and informative.

798
00:46:38.079 --> 00:46:41.239
So it seems like the key here, the punchline is messaging. Now,

799
00:46:42.400 --> 00:46:44.440
you did say that there's maybe a punchline for the

800
00:46:44.519 --> 00:46:46.280
QVC story that you wanted to get back, So I

801
00:46:46.280 --> 00:46:49.320
don't know if we'll have time for that, But anything

802
00:46:49.360 --> 00:46:51.679
else that we want to touch on, Yeah, there.

803
00:46:51.559 --> 00:46:55.519
Was a question. There was another question that I think

804
00:46:55.559 --> 00:46:56.480
there were two questions.

805
00:46:56.480 --> 00:46:58.480
I might have answered both of them at the same time,

806
00:46:58.559 --> 00:47:00.519
but maybe not.

807
00:47:00.599 --> 00:47:03.079
But anyway, Yeah, so let.

808
00:47:02.960 --> 00:47:07.079
Me, uh, let me talk about uh the rest of

809
00:47:07.119 --> 00:47:11.000
that story, that QUBC story, because it's really interesting. Okay,

810
00:47:13.239 --> 00:47:16.320
So it's the day of the airing that I'm gonna

811
00:47:16.320 --> 00:47:17.039
be on QBC.

812
00:47:17.519 --> 00:47:21.000
Okay, on camera right right.

813
00:47:21.039 --> 00:47:25.559
And by the way, I actually bought it was interesting.

814
00:47:25.920 --> 00:47:29.719
I actually bought the recipes from a husband and wife team. Okay,

815
00:47:30.079 --> 00:47:33.800
and the and the wife who actually created the recipes.

816
00:47:34.960 --> 00:47:37.599
She was looked so motherly. We put her on the.

817
00:47:37.559 --> 00:47:41.679
Air because I'm just a grumpy old man, so we

818
00:47:41.840 --> 00:47:44.400
put we put her on the air and dad, which

819
00:47:44.440 --> 00:47:47.719
was a great move because she had that look, you know,

820
00:47:47.800 --> 00:47:50.880
that that motherly baking grandma.

821
00:47:50.559 --> 00:47:51.639
Cookie look.

822
00:47:54.119 --> 00:47:55.079
That is remarkable.

823
00:47:55.440 --> 00:48:01.199
But leading up to it, Chicky, I kept asking QBC,

824
00:48:01.639 --> 00:48:04.280
what are the prices, what prices.

825
00:48:03.920 --> 00:48:06.000
Are you gonna are you gonna what? What are the

826
00:48:06.000 --> 00:48:08.480
prices you're gonna sell my product for? They wouldn't. They

827
00:48:08.559 --> 00:48:12.159
kept ignoring me. I kept calling them, and they kept

828
00:48:12.199 --> 00:48:14.039
ignoring me. So the day came.

829
00:48:15.199 --> 00:48:20.239
Now, to preface it, the product that they wanted to

830
00:48:20.280 --> 00:48:23.559
sell was a four pound tub of cookie though scoop

831
00:48:23.599 --> 00:48:28.239
and bake that I sold at Bjy's Wholesale Club And

832
00:48:28.320 --> 00:48:30.880
for those who aren't familiar with Bjy's Wholesale Club, it's

833
00:48:30.880 --> 00:48:34.440
like a costco. And I sold that four pound tub

834
00:48:34.519 --> 00:48:35.880
for five dollars.

835
00:48:35.519 --> 00:48:36.920
And ninety nine cents.

836
00:48:37.960 --> 00:48:41.039
Okay, when I got to the When I got to

837
00:48:41.079 --> 00:48:44.679
the show, not only was there a huge line of

838
00:48:44.760 --> 00:48:47.880
people waiting for autographs of the talent that's on that show.

839
00:48:47.960 --> 00:48:51.840
That's a cult in its own, its own, its own way,

840
00:48:52.599 --> 00:48:54.480
but I couldn't.

841
00:48:54.199 --> 00:48:54.960
Believe my eyes.

842
00:48:55.159 --> 00:48:57.840
They priced the product at twenty nine to ninety five

843
00:48:57.880 --> 00:49:00.760
plus shipping and handling. We sold sick one hundred units

844
00:49:00.760 --> 00:49:05.440
in five minutes, and people were calling in raving about

845
00:49:05.480 --> 00:49:08.239
how how many they bought and what a fantastic deal

846
00:49:08.360 --> 00:49:10.639
it is. So if anyone out there is afraid to

847
00:49:10.719 --> 00:49:15.880
raise prices, take a page out of QVC five ninety

848
00:49:16.000 --> 00:49:21.000
nine okay, five ninety nine to twenty nine ninety five

849
00:49:21.639 --> 00:49:23.719
plus shipping and handling.

850
00:49:25.800 --> 00:49:28.400
Okay, that is magnificent, amazing.

851
00:49:29.000 --> 00:49:32.559
Yes, so, Choky, I think we're out, almost out of time.

852
00:49:33.119 --> 00:49:36.280
You just want to say, to get a copy of

853
00:49:36.280 --> 00:49:39.400
our book Powerful Business Strategies, simply go to our website

854
00:49:39.440 --> 00:49:44.960
www dot NEXTSTEPCFO dot net. It's totally complimentary and until

855
00:49:44.960 --> 00:49:48.559
next Monday at noon Eastern time for Chucky Obio. My

856
00:49:48.639 --> 00:49:52.119
name is Michael Barberita. And remember, don't keep doing what

857
00:49:52.159 --> 00:49:53.719
your competition is doing.

858
00:49:54.440 --> 00:49:59.679
Yes, you have been listening to powerful business strategies, finding

859
00:49:59.679 --> 00:50:02.719
out that everything you ever learned about growing your business

860
00:50:02.920 --> 00:50:06.000
is wrong. Tune in next week and every week at

861
00:50:06.159 --> 00:50:09.639
noon Eastern time on W four CY Radio with your

862
00:50:09.719 --> 00:50:15.239
host Michael Barbarita of NeXTSTEP CFO and moderator chugy Obio