I was only in the eighth grade.
Imagine this tall, scraggly, angular kid with thick-rimmed, Buddy-Holly style glasses standing in front of a Boy Scout troop numbering 200 or more...
..Doing magic tricks.
It blows my mind to think about it now. You see, it all started with a dumb little classified ad I ran in the local paper (my first direct response ad).
"Magic is my thing. I do it for birthday parties. Free. Call xxx-xxxx."
Yes, when I started, my parties were free. But I made up this goofy index card with spots on the outside, and my name and phone number on the inside.
I gave one to every kid at my parties and showed them how to do a trick with the spots on the outside. They held onto it... and before I knew it, my phone was ringing off the hook, and little-old-seventh-grader-me was charging $10.00 for birthday parties (a tidy sum for a seventh grader at the time).
Go forward one year. My phone rings. Next thing I know, I'm standing in front of a BIG Boy Scout troop doing my thing.
Hidden in this story is the greatest marketing secret in the world.
You can use it immediately for big profits in your business regardless of what you sell or who you sell to.
Here are nine things this secret can do for you:
=>Give you a steady flow of highly receptive prospects to sell
your product or service to...without spending much money.
=>Bring a flood of business into a retail store
=>Inject a surge of instant cash flow into your business
=>Raise money for charities, associations and organizations
=>Eliminate the need for cold call selling
=>Dramatically boost attendance at meetings
=>Launch a new business on a shoestring budget
=>Boost your closing ratio from 20% to 80%
And much, much more.
=>Introducing The Unstoppable Power Of Endorsement
Endorsement means that a business, association, organization or someone other than yourself puts their stamp of approval on you, your products and services, your ideas or your company.
In my Amazing Formula That Sells Products Like Crazy, I
introduced you to Walter "Itsy Bitsy" Hailey and Steve Anderson (head honcho at Walter's company, Planned Marketing).
Walter and Steve call this "overhear psychology"...which means that people attribute more credibility to statements made by a third party than those made directly by you.
My magic show business boomed because I used the power of endorsement (at a very basic, rudimentary level). When the kids got home, they raved to their parents about the show. Their parents, in turn, called the host or hostess and asked about my mystical talents. Before long, my phone would ring with another booking.
Of course, it helped that the kids took home my magic trick, so my name and phone number were instantly available.
Here's why I call this the greatest marketing secret in the world...
1. One of the biggest selling challenges you face is that people don't believe what you say. Think about it. Every week on TV we see stories about companies ripping the public off. Our potential customers are scared they're going to be the next victim telling a sob story on TV.
That's why they often doubt that your product or service will perform as promised.
But when a credible person or organization endorses you or your products and services, your prospects set aside their distrust and listen openly to what you have to say. While you don't have a guaranteed sale, your odds of success certainly skyrocket.
Elsewhere, I've told you how Walter Hailey increased his ratio of converting prospects to sales from 20% to 80% using the endorsement method. While every business has its own numbers, you'll no doubt experience profound results using this method.
You have two choices: You can sell the easy way or the hard way. The hard way is approaching prospects who don't know or trust you. The easy way is getting others to introduce you to their own customers who know and love them, and therefore, by association, know and love you.
Here's why . . .
You've heard the expression, "guilt by association." This puts a new twist on that saying, "credibility by association."
2. Obtaining new customers through traditional advertising (or even direct mail) puts a big fat hole in your wallet. If you're uncommonly fortunate, you'll make a profit on your first sale to a customer you snag through advertising. If you're average, you'll break even or lose money.
To make a profit, you count on repeat sales and referrals, which limits your growth because you have to first recoup your advertising outlay before re-investing your profits. In short, you're stuck in a cash flow crunch while waiting to recoup your advertising dollars.
If you're new in business, the picture looks even dimmer. You have bills to pay. If you have to wait for repeat business, you may not be IN business to reap the rewards.
Before the clock strikes 12, you're broke. But what if there were a way to turn the tables and greatly increase the odds of making a profit up front? First of all, you'd have a gigantic advantage over competitors who are stuck in the cash flow rut. Second, you'd be able to expand more rapidly. Third, you'd have a cushion to absorb the cost of occasional bad judgment without putting yourself in a bind.
Let's be realistic. Everyone in business makes mistakes. And if you don't have a profit cushion to fall back on, the uncomfortable thump can leave you wishing you were still working at a "real" job.
Not so with endorsements. You can almost instantaneously access a slew of prospects in a single mailing with maximum credibility. Let's say a business has 5,000 active customers. How long would it take you to acquire that many customers through traditional advertising? If you convert 20% of your leads or prospects to sales, that means you'd first have to generate 25,000 ad responses. My friends, that requires a substantial investment.
In contrast, consider this: When you joint venture with a business with 5,000 customers, you get to access those customers ALL AT ONCE. You don't have to advertise for a year or two to get that many customers. And your cash investment is zero. I'll repeat that...
Your Up Front Cash Investment To Reach 5,000 Customers Is Zero!
Please understand, you have to tailor these numbers to fit the business you're in. If you sell to wholesalers, it may be that getting introduced on a favorable basis to 10, 50 or 100 new accounts translates into big bucks for you.
If you're a mail-order company, a list of 5,000 customers may not mean diddle to you. However, an endorsement to 50,000 or 100,000 multiple buyers might stir your blood.
Take what I'm saying, use your creativity and apply it to your own situation. If you're thinking, "my business is different," stop right now! That's a total cop out. I promise you, when you put your mind to it, you'll find ways to apply this to your industry.
3. Prospecting is the lifeblood of any business.
There's only one business in the world: Generating prospects, converting those to customers, and selling again on a repeat basis.
That's it.
And lead generation is the place where most businesses trip up.
It breaks my heart to see people get involved in business opportunities without having a way to locate new prospects. I don't care if you're selling web sites, network marketing companies, insurance, cars, dental care, psychotherapy, massage or anything else in the world.
Fact is, if you don't have a reliable, predictable, systematic way to generate new prospects, you don't have a viable business.
If that describes you, don't worry. In the balance of this issue, I'm going to show you exactly what to do and how to do it. Follow my instructions, and this won't be a problem for you anymore. So let's jump right in and discuss how to use the direct mail endorsement.
For the rest of this article, "How To Use Direct Mail Endorsements To Drum Up More Business Than You Can Handle,"
click here.
ABOUT THE AUTHOR:
Marlon Sanders is the author of The Amazing Formula That Sells
Like Crazy and creator of
Push Button Sales Letters and the
complete Cash Like Clockwork Money-making
System. If you
appreciate his blunt, no b.s. approach to Online marketing,
check out his numerous products and popular 60% profit reseller
program (with no smoke and mirrors) at: http://www.getyourprofits.com.
It's one of the top-ranked associate programs on the Internet.