I recommended this idea to a client of mine and she made a killing! It’s a marketing idea that’s great throughout the year and is perfect for around the holidays.
As you already know, getting business from your existing clients is a lot more effective than getting new clients. One of the best ways of capitalizing on your existing clients is by asking for referrals. Around the holidays your clients will be catching up with family and friends, and also meeting new people at holiday parties and gatherings. It’s a great time for referrals but ASKING would only spoil the holiday cheer. GIVE them something instead.
Here’s a very clever way to ask for referrals without having to ask. This is how it works.
- Give your current clients gift cards. Not the kind you buy for a store like Best Buy, but rather a gift card that can be used to pay for your own company’s services.
- – Make sure you’re giving something with real value (i.e. $200, one month free, etc.)
- – Make sure that it’s something free and not a free upgrade.
- – Using a dollar amount is much better than offering a discount percentage- $200 has real value; 50% off the first month doesn’t have as much value.
It’s a great WIN-WIN-WIN for the holidays. Your client wins because people like giving gifts to their friends, their friends win because they’re getting a gift and you win because you’re getting new clients.
Believe it or not, there’s a lot that we can learn from sex and apply it to marketing.
You Need to Warm Them Up First
You wouldn’t approach a complete stranger with this opening line, “hi, how are you? Do you want to have sex?” In business, however, this is what a lot of companies do. “Thank you for subscribing to my newsletter, now read all my specials” or “Welcome to our website. Buy Now!”
Take the time to build trust. Show people how you’ve helped others just like them. Show them testimonials, case studies and a list of your current clients. Ask for their contact information and give them something of value. They’re going to buy whenever they’re ready. For now, show them that you’re trustworthy.
It’s About Quality, Not Quantity
Some companies take a quantitative approach to marketing. When sales are down, they do MORE of what they’re doing instead of doing it BETTER. If what you’re doing isn’t working, doing more of it isn’t likely to fix the problem.
Great lovers and smart business owners do one thing very well: they ask their lovers/customers questions. “Is this what you want?”, “how can I do it better?” Do you talk to your customers? Do you ask them why they decided to go with you instead of your competition? Do you ask those people who did go with your competitors why they chose them? Ask more questions.
Experiment and Adjust
Most companies choose their marketing tactics based on “what everyone else is doing” or “because I thought it would be a great idea.” Some companies don’t try new things because they don’t know whether it’s going to work. My advice is, “test small, measure results, get rid of what doesn’t work and do more of what works. Don’t be afraid to experiment.”
How You Finish Is as Important as How You Start
You don’t finish having sex and tell your partner, “OK, that was nice. Now you can go home.” But that is exactly what some companies do to their customers. They never call them to find out how happy they are with their purchase and if there’s something else they can do for them. This is a perfect moment to stand out and build an even stronger relationship with your customers. And remember: selling to existing customers is a lot easier than selling to someone who never bought anything from you. Plus, caring for those who feed your family is the right thing to do.
Great marketers are also great observers of human behavior. They pay attention to their own behaviors and figure out what it is that gets them to buy or make decisions. It’s something that business schools just don’t teach. This is what gives the best marketers in the world the edge that everyone else just dreams about. These are the 9 weird psychological tricks they know.
Have you ever bought something because the original price was $100, but was now just $50. This is because everything is either a great deal or an awful deal based on what you compare it with.
What this means to you? You should have a bad offer on your website. Yes, I’m serious! Every time we’ve tested it, it has proven true. It makes your main offer look great. One of our clients was selling 4 bottles of his product at $89. We added an option to the site for 1 bottle at $75. His sales (for the 4-bottle package) increased by about 60%. Decoy offers make “the real offer” look very, very good.
In his book “Influence: The Psychology of Persuasion”, Robert Cialdini talks about an experiment he did.
Group A was asked to put a huge sign in their yards that said “Drive slow; kids playing”. Most of the people in Group A said no.
Group B was asked to put a tiny sticker in their windows with the same text. Almost everyone agreed. Then they were asked to put the giant sign in their yards. A large percentage in Group B agreed.
The takeaway? People want to be consistent with previous actions. If they said yes to something in the past, they’re more likely to say yes in the future.
What does this mean to you? You need to get your prospects to say yes to something. And the best way to do this is by asking for a tiny micro-commitment. For example, if you sell a $2,000 coaching program, you can have a funnel that looks like this:
- Download free report (only 3 pages; it can be read in 10 minutes)
- Get my free videos (total 45 minutes)
- Get my DVD (only $19.99)
- Free 10-minute phone consultation for people who bought the DVD (deliver a lot of value here. Provide “useful but incomplete” information. Keep them wanting more.)
- Group training ($499 and includes a 110% money back guarantee)
- Private coaching ($2,000 and includes a 200% money back guarantee)
High Price = High Quality
A $500 tennis racket is always going to be better than a $100 racket, right? Isn’t a $400 office chair always going to be better than that $100 chair? No, of course not. But as the buyer perceives it: “If it cost that much, it must be good.”
What this means to you? You are hurting yourself by charging too little for your products. Raise your prices and increase the perceived value of your stuff.
People want what they can’t have. Do you want the new phone that’s sold out everywhere or one you can get anywhere? What restaurant would you rather go to: the one that is fully booked for the next 3 months or the one that’s empty?
What this means to you? Let your prospects know you don’t take just anyone as a client. Tell them they need to apply and that you only select those clients that are a good fit. This will make them want you even more!
If you sell products, try this: in your copy say who SHOULDN’T buy your product. For example, if you sell artisan bread try saying “this bread isn’t for people looking for mass-produced loafs of blandness. If you’re the kind of person who appreciates hand-crafted bread that’s full of flavor, you’re in the right place.”
Everyone wants to be liked and they want others to think they make smart decisions.
What this means to you? Explain why buying your product is a SMART decision. People will need to justify their actions with others and they’ll repeat whatever you say. Make a compelling argument so people feel good about buying your stuff. (And, make sure your stuff is extremely good!)
Too Many Choices = No Action
Don’t you hate when you want to buy a laptop, you go to eBay and they have 2,000,000 laptops to choose from? You think “OMG! I’ll be here all day!”
What this means to you: narrow down the choices you give your visitors and you’ll increase your sales instantly.
If an offer may be gone tomorrow, than a person is more likely to take action today.
What this means to you: don’t just give people reasons to act; tell them why they need to act NOW! Some ideas:
- This offer expires on Sunday
- I’ll take only one client this week
- I’ll only be teaching this to 8 people
- Only 6 items left. When they’re gone, they’re gone forever.
Risks = “Reasons Not to Act”. Therefore; the less risky an action is, the more likely someone will take action.
What this means to you: Go beyond the standard “money back guarantee”. Some ideas:
- Offer FREE shipping on returns. (It has worked wonders for Zappos.com)
- Offer a FREE trial and let them keep something, just for trying it out.
- Ship the product now but don’t charge them for 30 days. If the customer returns the product within 30 days, then they never get charged!
Guarantee results, not just “satisfaction”. Get very specific.
Note: Depending on your market, about 1% of the people will rip you off, but your sales will double. Do the math for yourself and you’ll see that it’s still worth it! Remember: your market is going to be taken by the boldest marketers. This could be you or it could be your competitors. Don’t let the fear of losing stop you from winning. If you’re afraid of things going wrong, start by testing your guarantee on 200 sales and keep some reserve cash just in case. Then compare the extra sales with the refunds you had to give and see if it makes sense to keep doing it.
This one isn’t weird but it is 100 percent true. Sex sells. That’s why models are hired to sell products.
What this means to you: you need attractive people to show your products. Don’t just use your cousin Joe (the one with the beer belly) because he’ll do it for nothing. Use stock photos or if you need a model put an ad on Craigslist and you’ll get very attractive -although not famous- people to feature your products.