I go to a lot of trouble to get a new client.
For example: Last week I took a day out and flew to Sydney to speak at a Vets conference to promote an upcoming marketing series I’m running for Sydney University’s post graduate Vet division.
I was the last speaker and stayed on after the talk to answer every question of every person who approached me.
I flew back late to Brisbane and then drove 75 minutes to get home just before 10pm. I’ve picked up two new 80-20 Center clients from that and the Uni has 23 vets enrolled in the program we’re running.
For example: I currently set aside a minimum of one whole day per week to do nothing else other than marketing. To be clear: That time is not invested in learning about marketing (I do that at another time) or developing marketing systems … it’s actually doing the marketing.
For example: I literally give away hundreds of dollars worth of valuable marketing resources for less than the price of shipping in order to entice a prospect to try the Killer Marketing Club.
For example: I regularly run free or very low-cost webinars for those interested in one or other of my services.
For example: I invest time identifying and engaging joint venture partners, affiliates and centers of influence. I frequently encounter apathy to my approach or worse, initial enthusiasm following by inaction. However I persist because it’s a little like prospecting for gold … in amongst the rubble and stones I sometime uncover a nugget. Last month one such approach, met with apathy, resulted in a referral to a key contact that will most likely bring in more than $100,000 – and possibly a multiple of that – over the next 12 months.
For example: I invest half a day every month to prepare and send out my monthly e-zine that is valued much more than it is read but regardless adds another reason for prospects to stay subscribed and thereby possibly becoming a client one day.
For example (and from my perspective most interesting): I’ve lost track of the number of times I’ve run an event, either self-promoted or through a third party, where only a handful of people showed up.
Similarly, I’ve lost track of the number of times that one person from such an event has become a client whose lifetime value exceeded $20,000, $30,000 and even $50,000.
Donald Trump told the story of how he bought a mansion with the goal of quickly renovating it and selling it on.
However, after purchasing the house he went to inspect it with a small army of designers and found the former millionaire owner, now bankrupt, squatting in it and refusing to leave.
Instead of calling in the lawyers and engaging in a protracted battle to evict the previous owner, Trump offered him one million dollars to leave. Not surprisingly the ex-owner disappeared very quickly indeed.
Trump explained his reasons for such a bold move:
Reason #1: It was the right thing to do for the ex-owner.
Reason #2: It was probably less expensive than using the lawyers and waiting months for a result. Instead he could get on with the redevelopment and get the property onto the market relatively quickly.
Reason #3: Bankrupt ex-millionaire’s have a habit of bouncing back and Trump reckoned that it was possible that one day he’d be sitting across the other side of a board room table from the ex-owner, wanting to do a deal of some sort and the million dollars could easily be recouped at that point.
He said that he’d rather be seen by the ex-owner as the guy who helped rather than the viscous and evil landlord who kicked a man when he was down.
In stating reason #3, Trump was acknowledging the potential value that lay inherent in one person.
I think that in the examples above I’ve pointed out the benefits of metaphorically having your fishing lines dangling in a lot of different ponds.
Balancing that is the idea that you need to have your lines dangling in the sort of ponds that have the type of fish that you want to catch and that you’d better bait up with the type of bait that those fish like.
For example: I don’t speak at the sort of events that are frequented by people who have no money such as natural therapist conferences. And I don’t speak at events that are full of people who are predominantly know-it-all types such as lawyers. Clearly there are exceptions to in both examples … but too few to justify the investment of time and energy.
And on the subject of bait: You can swiftly and significantly increase your marketing return on investment simply by changing your “bait.”
For example: If you are targeting home buyers with a mortgage product then you’ll attract more prospects with an advertisement offering a special report on “How To Save Money And Negotiate The Best Mortgage Rate” (possible subtitle: “Plus: Four Costly But Unnecessary Mistakes Made By Most Home Owners That The Banks Don’t Want You To Know About”) than you would if you simply ran the standard name, rank and serial number style advert offering a “free initial consultation” a.k.a. “let’s get you in the door so we can sell, sell, sell you.”
The following questions are not designed as some sort of guilt-inducing interrogation but rather as an opportunity to get better at the whole get-more-clients concept:
Q1: How much time do you invest every week in marketing activity? If the answer is less than 8 hours then you have a massive opportunity for business growth awaiting you.
Q2: How many different lead generation sources have you put systems into place for? Please note the word “systems.” Word of mouth is NOT a system. It is a random, unpredictable and therefore incomplete source of leads. If the answer is less than 12 then again, you have massive untapped potential lying dormant in your business.
Q3: If you are actively marketing, do you have your fishing lines dangling in the right ponds and are you offering attractive bait? If the fish aren’t biting then you are either in the wrong pond or need to try a different bait.
Smart people develop smart marketing systems and employ them every week and in some instances every day.
Tom Poland is an entrepreneur and the founder and director of 80-20 Center and shows business owners and business coaches how to “get more clients, make more money and have more fun.” Check out his free marketing resources at www.8020Center.com.