Lead Generation

An emotional purchase is when a customer calls the company and the company sends them out a sales letter with product samples.  That is an emotional purchase.  The customer is deeper emotionally.  The key critical one is when they get to a quote.  Other than the sale, that’s probably the biggest emotional purchase. 

80% of all revenue is generated by previous buyers versus new buyers?  The marketing cost is too high to acquire first-time buyers, generally, for products.  Now you understand what you’re really competing with.  But we write everything to the 5% brand-new guy, brand-new prospect, first time in.  There isn’t a single solitary incentive in there for the person who’s already a customer to switch over.  That’s what this is: switched sales.

Whoever owns their market or controls their market, are the ones that play both sides of that coin.  They take their customer share and then they add enough value to their existing relationships that they retain their existing customers.

Then they saw it was too much trouble.  Then they told you to take the front cover or a particular page and fax it to them.  And that action earned you the competitive upgrade, the discount, the rebate, the trade-in, whatever it was.  It earned it for you.  But what it did for you, as a person selling the product, it proved to you that you had one of those people that resides in that pool of 95% of the money flowing out, that you are now stealing.  And it’s proof of the fact. 

We want to make them feel good, like what we’re doing is selling them benefits of being one of their readers.  The headline becomes, “For trade association newsletter readers only.”  Then you tell them what to do. The association wouldn’t object to that, because it would prove to be a benefit of being a member. We just wanted somebody to know that we were getting qualified people.
An example would be -- because of your professional affiliation with the XYZ association, we are rewarding you with an instant $500 towards any of our deluxe models.  Simply bring in your association membership card to redeem your instant discount.

Okay, newsletter cover, magazine subscriber could be one –- ideally, the front page.  If you know a certain magazine, most of them all have the mailing address on the front.  The beauty about using that is when they fax it, you obtain their name, address and everything, company name, title. 

The tool that we’re describing of stealing 95% is where not only is 95% of the money flowing into an industry this year, it’s where all the backend revenue’s going to flow in next year and the year after. 

You’re asking somebody not only to buy from you, but also to switch and give up somebody else and give up a relationship, give up trust, give up everything. 
So besides illustrating and showing superiority, you can also think of doing comparisons.  Comparisons to where they are, what the differentiation is, and how more valuable that is.  Make sure you utilize your competitive advantage to explain it very clearly.  You want to show low risk to them and a high benefit or a high return.  You have to prove this stuff.  If you prove all of these unequivocally, and you have the upgrade or trade-in or discount program or rebate program in place, you can prove all this beyond a shadow of a doubt.  You will succeed. 

Another consideration is price. You know your competitor’s price and realize that at the moment you’re going out with this deal, people, in their minds, are comparing what you’re offering to the competitor’s price.  That is the first basis of comparison they’re using in their judgment.  Prepare a price/value comparison.

Every time they make an emotional step: i.e, collect brochures, sales material, quotes, or consultations, they’re a little bit closer to a sale.  And it proves that they’re serious, that they are one of the 95% that you’re trying to get.

Again, we’re going only after those customers who already believe and have purchased a product or service similar to yours.  A plastic surgeon could advertise if you’ve ever had a surgical procedure preformed or had a consultation with another doctor, all us immediately we have a special offer just for you. 

The people who already believe in the benefits of plastic surgery have already identified themselves.  There is no need to waste valuable time and money trying to convince people who aren’t interested in what you’re selling.

The largest pool of existing customers are those that have become your largest competitor’s customers.  These people are already proven buyers.  We’re looking for ways to legally steal these customers.  We’re looking for prospects and customers who have already made the emotional decision to purchase. 

In order to out-strategize your competitors, you must and should create a marketing and advertising campaign that creates a strategy that plays upon the dissatisfaction level of these customers.  These customers and prospects who belong to your competitors will have to be educated by your marketing and advertising campaigns. 

You’ll have to offer something truly compelling and above all irresistible.  You simply can’t make offers to your competitor’s customers that are exactly what they already have.  They aren’t likely to purchase an identical item or service from a new supplier.

Once you’ve successfully stolen your competitor’s best customers, it’s vital to your business that you establish a multiple sales cycle with these customers  just like banks.  Banks try to establish successful relationships with their customers by trying to open multiple accounts with that bank: i.e., checking, savings, home loan, auto loan, CD’s, money market accounts, etc.  The turn over rate is much less and customers who have multiple accounts with a bank are truly gold mines to these banks.  Consider these examples as a strategy for your business.