Array ( [data] => ) B2B Lead Generation – Orren Prunckun https://orrenprunckun.com Tue, 21 May 2019 11:08:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://i0.wp.com/orrenprunckun.com/wp-content/uploads/2014/08/cropped-Orren-Prunckun-Beard.png?fit=32%2C32&ssl=1 B2B Lead Generation – Orren Prunckun https://orrenprunckun.com 32 32 138446008 Orren Prunckun’s Marketing & Sales Q&A – Episode 5: How to sell your product in a competitive market https://orrenprunckun.com/2019/05/20/orren-prunckuns-marketing-sales-qa-episode-5-how-to-sell-your-product-in-a-competitive-market/ Mon, 20 May 2019 05:16:35 +0000 https://orrenprunckun.com/?p=4699

In this episode you’ll hear me answer a question about how to sell your product in a competitive market.

So, listen here as I discuss this!

To be featured, first go to http://speakpipe.com/orren and record your number #1 marketing or sales question as an audio file.

Then click send and I will answer it for you for FREE!

Transcript:

Question

Hi my name is Deb and I’m a self producing musician on the fringe circuit as each year the festivals get bigger it’s becoming harder for the smaller independent acts to cut through and compete with the big budget corporate acts in addition to this I’m aware of the massive eco footprint festivals creates so I’m trying to do my bit for the environment by cutting down on flyers and posters without the budget for a publicist aside from Facebook advertising what are some other best value for money unique ways you would use to sell your show in a competitive market.

Answer

Hello Debra this is an awesome question I really like this because I have spent a lot of time in bands and DJing emceeing and Club promoting over the years and I love this stuff so it’s really um what I’m gonna give you is hopefully super relevant to you so if I was in your shoes I’d do all of the following right so I commend you for jumping out there and doing paid Facebook ads think about Facebook Ads anything you spend I want you to be breaking even I want you to be self liquidating that so any dollar you put in I want you to be getting $1 out I don’t want you to be spending money without actually covering your cost of that ad you may be thinking or why would you want to do that you’re not making any profit all of your profits should be made on back-end for through multiple performances and getting people to come along again and again to what you’re doing and bringing their friends so if you’re gonna be doing Facebook ads make sure every dollar you put in you’re getting at least one dollar back even if you’re just covering the costs of your ads you’ll make all of your profit elsewhere and through performances because people go and see bands over and over and over again and musicians time and time again because they just love what they do in terms of getting cut through I totally agree with you the number one thing is you have to be polarizing there are going to be people that love you and if there are people that love you there are also gonna be people that hate you the only way you want to get cut through is by putting a stake in the ground and saying this is who I am and this is what I stand for and this is the type of thing that I produce now on that if you’re being polarizing it’s a really good qualifier you’re getting people to raise their hand and say yes I’m in and I mean about your music and also by default you’re disqualifying people and getting them to say they’re not a fan of what you’re doing and that is totally okay the more polarizing you can be the better agree with you with the being eco-friendly for sure and you know just beyond the environmental factors that come into that I think flies are really dumb you know we’re coming into a federal election here in Australia and I sealed the core flutes and all the core flutes are the same thing huge waste in terms of hobbies but they don’t actually do anything like no one makes a buying decision by looking at someone’s mug on a quad flute on a light pole no one makes a buying decision based on that yeah it’s a good memory reminder but that’s you know a whole other branding issue around memory reminders and why you have branding to start with so I’m not going to go into that but what I would be doing what a sir let me just go back a step with pliers most people at you know you mentioned the fringe in other festivals most people with flyers they’re just going around and everyone’s saying that they’re just handing out flyers to people in hopes that they’ll come to their show and there’s you know a little bit of a conversation that happens but not too much but people take the flour away and the users throw them out and that’s the concern that you’ve got right what with flyers what they’re trying to do is the same thing as politicians with the core foods they’re just trying to go from you know frozen or cold all the way there like boiling him you know they’re just trying to take a bit of ice and get it to 100 degrees Celsius second you try and sell someone on a bit of paper that’s a five like you have to be the best sales person in the world to be able to do that and you just don’t have the capacity through that modality or medium to do it so what I would be doing and the main concern people have is when you know you’re offering something to them is de-risk it it’s like I don’t know you I don’t like you I don’t trust you how can you do risk this buying decision for me so if I go to your show and it doesn’t pan out to be what you promised I’ve lost with this money and time and all these other opportunity costs so what I would be doing is flipping it on its head instead of giving something like a flyer to someone I would be getting something from them that I could follow up follow up with them so this is like the same thing with business cards right but I don’t carry around business cards because if I give a business card to someone it’s just going to go into the drawer into the bin and they’re just gonna totally forget about it if I take a business card from someone that means I am in control of the conversation I can follow up with that person so what I’m getting going at getting at is you to do the same thing is collect something from them cut their business card not literally collect their business card but collect their contact details in some way and I would be doing that as an incentive okay give me your contact details so I can follow up with you but in exchange for that what I’m gonna do is give you an mp3 player and some headphones with my music on it so you can go out and listen to me and you can do it in the comfort of your own home there is zero risk the other risk is you’ve given me your contact details and if you like it you will enjoy the you were welcome in the contact that I have inviting you to my show that’s gonna be a paid show or I would do the same thing is I would burn something to a CD give CDs out in exchange for contact details at these festivals same goes I know you’ve got a little bit of recorded video of the performances you do or maybe that’s an assumption but if you do a DVD or put that recorded video on a USB with you know in exchange for those contact days or so that kind of builds into the next thing is now you’ve got their contact details you’ve got their business card right and they’ve already taken zero risk and listen to your music and if you reach out to them and say I’ve got a show coming up we’d like to come along it’s paid so I’m twenty bucks the amount of conversion to get through that is far higher than anything that you’ve done with a flyer and already not you and they’re like probably like you and then it’s the buying decisions made much simpler for them what I would also be doing is looking at you so you mentioned a publicist I’m not sure if you’re doing that currently but anything to do with PR and publicity you really need to get a really strong hook or angle that makes you different and where I’m going with this is there’s a guy and I’m Rob Lee gonna give a whole bunch of examples in the hip hop rap kind of urban speakers I’m sort of into that as well as heavy metal but this guy may be slim Jesus was a kid I don’t remember how old he was about 12 years old but he was a white kid from Southern America and he call himself slim Jesus who’s doing like gangsta rap right so he’s angle and a blow up his song I remember his song was but it was just going everywhere was who’s this white kid young guy doing gangsta rap and he called himself slimming Jesus right so everything about that is unique and really interesting and meaning just jumped on it and really promoted him so I’m back just a memory on my iPhone but what I’ll be doing and I’m gonna get back to angle was just in a second but the other thing I would be doing would be turning competitors in to partners so there’s a lot of other people within festivals competing for the same attention the same sorts of people so I’ve gone back to that angle and seeing what you do as being seeing what you do that is unique or different and using that to differentiate yourselves yourself from others so yep there are other people doing you know similar musical acts then as you go how can you differentiate yourself rather than competing with other performers but turn them into partners to me that you compliment them or compliment you with and as soon as you are complimenting each other you’re not by definition competing and those partners sir those competitors them turn into partners especially promotional partners to help you get your message out to similar different cohorts like you just look at the need of theirs look at something like cooking right there people that are into cooking and they buy lots of different cooking books like I’m into books right you can see behind me like I don’t just have one book on one topic I have multiple books on multiple topics so just because someone is competing in the same sphere as you as long as you’ve got something different a different book that has different content different music it has different content people are going to go buy it they’re not actually in competition and your competition can see that you’re not directly doing the same thing as them or the same genre as then I’m providing something similar they’ll be more than happy to go out and promote for you the other thing is doing collaborations with different with different genres so we’re not even talking about competition to Ana competition to partners but different musical acts that are doing different genres and how can you actually go out and compliment each other they have access to a different certain cohort you have access to another cohort that’s quite different how can you combine what you both through into one thing and cross-promote each other that way so the example I’m thinking of is t-pain did a collaboration with tell us with like you know you’ve got that hip-hop with you know pot and they’ve got two different audiences they did a collaboration together and they opened each other’s music to different cohorts and helped promote each other in terms of that what else I would be giving away in my own music to anyone and everyone that needs music look at podcast like this right I have some intro music as mattre music I would be going to every different podcast or youtuber that has a very similar demographic of who you want to target and I’d just be giving my music away for free at the front and start or in the middle of their podcast to get your name out there same thing with tick tock if you’re not familiar with the app tick-tock this thing is blowing up and it’s super addictive it’s all music based so people are doing things to a back of backing of music so I just should be trying to get your music out there now in terms of other distribution firehoses in terms of meaning there are there are technologies out there that just already have cohorts people I would be just submitting all of my music to our YouTube SoundCloud BitTorrent who else Spotify has people I’d be submitting all of my music to those platforms I’m just getting everything out there the other thing with that is just stopping precious about how much you produce I’ve been British pretty true sorry producing so many different things that you can get out into the marketplace the thing is if no one sees sorry no one to see here’s it doesn’t really matter it’s only the big wings that matter if you are putting out a whole lot of music they example I’m trying to give here is people another urban and rap artist hey years put out he was prolific he’s put out so much stuff and a lot of the stuff wasn’t good but a lot of the stuff people didn’t hear but was only the stuff that was really good that got picked up by the mainstream and got promoted that way and he got quite a few picked up that way because it was just producing so much stuff but that quite a lot of the mainstream population don’t actually know all of the stuff that produce because not all of it was hits and just went under the radar and got kind of lost into obscurity the other thing just on this is with all this distribution firehoses those talking about like Spotify and YouTube and BitTorrent and SoundCloud is that they’re already artists out there that are producing on those platforms not sure if you really want to try this out but a guy named Soulja Boy you may have remembered him from maybe about 10 years ago so he what he used to do was um who would upload his music but with the names of other artists in his genre so he would just say whoever he knows a big ass at the time he would just you know rename his tracks the same tracks as them and then people were just going searching for those tracks and then they would come across this other track that was a soldier boy track another are this is not what I was listening for but some of them found it was a good thing others and probably the majority of them didn’t think it was a good thing and just like exited out and got all mad and so on but the ones that did like what listened to the ends and they’d be like oh this is cool and then at the very end you’d have you’d have information to go and find out more about you so even though I said a lot of people get annoyed with that Soulja Boy actually attributes a lot his initial success to that strategy so I’m not sure if you want to try that out but that’s another thing that might be um might be useful so I think that’s all I’ve got off the top of my head that you’d be worth you going out and at least considering if not trying to get your word out without having to rely on flyers not having to rely on a publicist although I did mention some of that and also not relying on Facebook but I did mention what I think you should be doing around those three things if you want to follow up with the Flyers publicists and/or Facebook but I gave you a whole bunch of other stuff that I think will help you a lot but the main thing is don’t try to sell people that don’t want to be sold take them through it my customer journey make sure they grab their contact details you can follow up because of what if your revenue will come from later purchases down the track so I’d love you to go try all of this stuff out love you too let me know how you go with it and I’m really excited to hear from you.

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Orren Prunckun’s Marketing & Sales Q&A – Episode 4: How to get a product out to partners & consumers https://orrenprunckun.com/2019/05/20/orren-prunckuns-marketing-sales-qa-episode-4-how-to-get-a-product-out-to-partners-consumers/ Mon, 20 May 2019 05:16:26 +0000 https://orrenprunckun.com/?p=4698

In this episode you’ll hear me answer a question about creative ways to get a product out to partners and consumers.

So, listen here as I discuss this!

To be featured, first go to http://speakpipe.com/orren and record your number #1 marketing or sales question as an audio file.

Then click send and I will answer it for you for FREE!

Transcript:

Hey Orren it’s Dragos, best of luck with a podcast it sounds really exciting and I’ve got a marketing question that I’m hoping you can help with we’ve recently started signature board games and we’ve pretty much finished that first game called flip and fish well we’ve decided to do is do a small print run instead of doing a Kickstarter or something like that because we’ve got really good feedback from people who are basically saying we want to buy this right now we want to take advantage of that and sell a few a few copies and then reinvest that that back in the business and possibly later on Kickstarter etc later on so the question is once we print out press batch which will be about 500 what’s the most creative or what are some ideas for us to marketers either to shops or to clients in a creative way to try and get them out there considering it’s a very crowded market and new designers with one game usually have a hard time getting noticed yeah any thoughts comments feedback would be much appreciated it was thought about things like partnering up that side of the industry but yeah any anything else yeah?

Answer

Hello that is a great question and I just want to congratulate you and applaud you have been following your journey I think what you’ve done and how to take an action on this is phenomenal and also in that you go in a small print run especially for a physical product is an amazing strategy without you know going out and spending thousands of dollars and tons of your time and betting the farm in case this thing does or does not work so doing a really small one rania is a really fantastic strategy so big Pats on back for that so I’m gonna tell you a question with two different ways I’m going to talk about what you’re selling and then how you are selling it so I really want you to think about what it is that you are selling now you’re going to a market where there are plenty of players and plenty of competing products now that’s not a bad thing because consumers love what you’re doing and you know the industry has been around for a really long time but which also which means that people are interested in purchasing what you have to offer but because there’s so much noise out there I really want you to think about how you’re going to position yourself amongst all of the competitors what is it that you do or what is it that your product does that stands out from everyone else now in the PR and the publicity game this is called a news anchor or certainly another news anchor a publicity angle or a PR angle so what is that that’s going to jump out and hook people’s attention because you are unique or different or better or faster than all of the other things that are on the market now yeah the product will solve that but you have to break through all of the noise that’s out there so what is it that you’re yes it is a board game but what is that that people are going to get out of it but also what is the thing that is going to grab their attention now in terms of how you’re selling I want you to go back to the cause I recorded about the fair value line and also how McDonald’s acquires customers and makes a profit and I want you to apply those two different ideas to what you’re currently doing now cards against humanity’ does this in an interesting way and that’s the only thing that’s coming to my mind on the spot is that they do expansion packs for all of their cards so you come in and buy the game and you have a fantastic time and you know usually board games are just a once-off purchase whereas cards against humanity’ they go out and do an expansion pack and I think and I understand this multiple expansion packs so they’re making a little bit more money from the beyond the initial product they’re also providing value for that now I look at all the board games that you know I’ve played as kids and played as kids and currently play we’ve got quite a few board games at the big check that I go to and these things have been you know made back in the 70s so it was a once-off purchase and we’re just getting a ton of value out of that however you know you can go along and create more value than just the once off purchase by creating the equivalent of what might be an expansion pack the cards for cards gates I’m Jana humanity so I really want to think about that in terms of what you’re selling now in terms sorry in terms of how you’re selling it so you’ve had a look at like the fair value line and how McDonald’s acquires their customers we’ve got that kind of framework of strategy of different products of different price points at different times through that customer journey I also want you to think about what the sales message of communication or the language that you’re using for each of those stages now they should come or be distilled or cascaded down from what you are talking about in terms of how differentiating yourself and how you positioning yourself in the market so all that communication of each of those different stages within that product during come from how you are different and then finally once you’ve got the stages and then you’ve got what the messaging is think about how you can go about acquiring customers now I did speak to that briefly in one of the other calls around paid earned in own media so on the paid and earn side I want you to think about all of the different ways you can pay for attention and also have all of the different ways that you can go and earn attention but not just spend all of your time doing that seeing how you convert can convert that into owned media waste you capture all of that payout all of that money you spend them all that time you spent you’ve capture that into an asset that you can communicate that sales message to all of those prospects and customers as they go through that customer journey and thereby something you know a small price point that they get a small amount of value and then you know the equivalent of the expansion packs as they go on so now in terms of partners and how you can go about creating partnerships the first stage is actually going out and finding as many partners as you can that I related to you but not direct competitors now these are going to be distributors for you so this shouldn’t be a really difficult task that was going out and finding that out about who all those distributors are both online and offline and then once you’ve done that once you’ve found those distributors what is it that they want or what is it that they are motivated by and really finding out that and doing some exploration to what they want and then being able to go out and then provide that for them so going on helping them get whatever they want just before you go out and ask them to promote your game so those four stages are really, really important to go out and find partners that are going to be behind your course and be able to go out and promote what you’re doing so I really hope that helps try it out let me know what happens and thanks your question.

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Marketing Ideas – Episode 16: How to find the prospect you want to talk to https://orrenprunckun.com/2019/05/15/marketing-ideas-episode-16-how-to-find-the-prospect-you-want-to-talk-to/ Wed, 15 May 2019 06:06:44 +0000 https://orrenprunckun.com/?p=4681

In this episode you’ll hear my thoughts on:

  • How to get past gatekeepers successfully;
  • How to get referrals to the right person;
  • How to make sure the prospect you want to talk to responds; and
  • Why both of these tactics work.

So, listen here as I discuss these!

Transcript:

Hello hello it’s Orren Prunckun and today I want to talk about how you get in contact with the right decision maker now this comes from a question of someone else asking me is only applicable for b2b sales and one-on-one selling where you don’t have scale where you’re not doing a one-to-many style communication and the question was like how you actually get into contact with the right decision maker or how you get past gatekeepers and the real problem is most people try to get past gatekeepers by actually going to the gatekeeper themselves and as they’re named locally implies is they are a gatekeeper they are stopping you from getting in front of the decision maker just by default of who and what their position and who they are what their position is so why do you go around and my experience has been you always go above the gatekeeper and you go above the person that you are trying to get in contact with you always go to the very highest person that you can get usually the CEO managing director or whoever and you go to that person that person is really really busy instead of them hey you know my name is so-and-so who is the person that’s responsible for what every role that you’re looking for and that person nine times out of 10 and will give you their name and their position and say this is the person usually because that CEO is way too busy to actually field any of your questions they’re more than happy to hand ball you off and that’s why they are in a management and leadership role is to delegate to all of those people now you know exactly who the person is and what role they have all you do and if you’re doing this by email especially CC the person that gave you quote unquote the referral or told you who that person was CC them into the communication saying hey I am have spoken to the CEO or the leader or the managing director and they said you are the person that’s responsible for this role well I have I am trying to get in contact you can obviously see them into this again 9 out of 10 9 out of 10 times the person that you have contacted and CC the put referral into will reply to you because their boss or someone up the chain from them in other words still their boss and CC’s into them and they feel like they have to respond because they don’t respond to the person that’s given the referral they look like they’re not doing the job so that is one easy way to get into contact with people who are decision-makers and getting past gatekeepers so if you’re in b2b sales and one-on-one sales and you trying to get in for contact with that person go to the top not to the bottom try it out see what happens let me let me know what how you go and I would really like to hear from anyone that tries it out good luck thanks for listening.

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Marketing Ideas – Episode 8: Confused prospects never buy https://orrenprunckun.com/2019/04/24/marketing-ideas-episode-8-confused-prospects-never-buy/ Wed, 24 Apr 2019 08:56:41 +0000 https://orrenprunckun.com/?p=4638

In this episode you’ll hear my thoughts on:

  • Why your marketing message needs to be clear & simple.

So, listen here to hear as I discuss this!

Transcript:

Hello hello this is Orren Prunckun so throughout my life I played music I played drums and I played drums in a metal band for quite some years and then I used to be a pro DJ as in I used to get paid my full salary to play music for people for several years of my life so I think I know music pretty well so recently I was listening to a commercial radio station and an eighties glam metal band came on I’m like yeah this is cool I’m into eighties glam metal and I hadn’t heard this band before and the lyrics were completely incomprehensible had no idea what they were saying now this glam metal song was only a clip for about 15 seconds and then it ended and then it went into a political campaign sang was authorized by Clive Palmer of Clive Palmer United Party now don’t get me wrong don’t get me wrong why I will not be voting for Clive Palmer so that’s not the purpose of this run but what I wanted to explain was a marketing lesson so the marketing lesson here is a confused prospect never buys so I have no idea what that song was even trying to communicate to me and in and I do well what we would all do was have a USB that we take out of our brain and plug into someone else’s brain in computer can communicate everything that we wanted to about what we’re trying to market so they got all of our experiences and stories and were convinced that way but we don’t live in an ideal world maybe the technology it maybe technology will get there at some point but at this stage we have to use our words and other communication mechanisms to communicate what we are trying to do to our prospects now if our prospect has no idea what we are communicating the message is lost on them completely irrelevant sailors message and that is what happened with this clip now I did a bit of research into the clip to find out what it was all about and it was actually meant to be a parody maybe not parody but a a cover of a metal band from us called Twisted Sister so it was a take on one of their songs what are their famous songs now as I said in the start of this I seem to think I am pretty good at identifying music of any music for a lot of my life and I still had no idea that it was meant to be a take off of this song on that point Twisted Sister has now a cutest Clive Palmer of ripping off their song for a political campaign now that’s a whole another killer fish and bad and don’t do that because he’s ripping off intellectual property so that’s the second thing that Herkimer has done poorly but the first one the marketing one is confused prospects and never buy like if they cannot understand your sales message they will not know what to do or what you are trying to convince them to do so when you go out and create a sales message make sure that what you’re trying to communicate is very very clear and a lot of us try to over complicate things with technobabble and all of that kind of technical detail if a two or three year old cannot understand the point you are trying to make you have gone too complex for them and if it’s in a song that no one can understand the lyrics you have completely wasted your marketing and sales dollar so what I want you to do is try out in your next marketing sales communication simplify things and make it really clear what you’re trying to communicate I tried out let me know what happens and I would love to hear from you thanks for listening.

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How To Sell https://orrenprunckun.com/2018/08/27/how-to-sell/ Mon, 27 Aug 2018 05:36:10 +0000 https://orrenprunckun.com/?p=4094

The Sales Process (How To Sell In Person)

Market Research

  1. Identify prospects (who are you customers)

Marketing

  1. Suspect for Prospects (finding your customers)

Marketing/Sales

  1. Initiate Outreach (bridging the gap with your customers)
  2. Target Outreach (qualify/disqualify your customers)

Sales

  1. Needs Analysis (find your customers specific needs)
  2. Solution Presentation (present your solution to your customers)
  3. Trial Close (ask your customers to buy)
    1. Negotiation (address any customer concerns – if required)
    2. Close (ask your customers to buy again – if required)

The Sales Process (How To Sell Online)

Market Research

  1. Identify prospects (who are you customers)

Marketing

  1. Suspect for Prospects (finding your customers)
  2. Initiate & Target Outreach (qualify/disqualify your customers)

Sales

  1. Solution Presentation (present your solution to your customers and address any customer concerns)
  2. Close (ask your customers to buy)

Rapport Script

Helps you build trust quickly:

  1. “Hi, how are you? *Handshake* My name is X. What’s your name? (Emotional Willingness & Polite Conversation)
  2. “How is your day going? Would you like a (related to product or benefit), they are free? (Facts & Information)
  3. I love that piece of clothing you are wearing (Compliments)
  4. I have the same at home (Commonalities)
  5. “Great, I’m guessing that means you are into (benefit of product)? Cool, do you use already (similar product)? Are you happy with it? That’s sounds positive/negative! (Ideas & Opinions)
  6. Why do you say that and feel that way? (Feelings & Emotions)
  7. Hi5 (Anchor)
  8. I think I can help you – I’d love to give you some ideas. Is that okay or are you just saying that to please me?” (Authenticity & Congruence)

Rapport!

1 Initiate Outreach

Description:

Once you have found prospect contact information you need to initiate outreach to start qualifying them. This step is about making contact and finding the correct decision maker. You need to find the prospect (or decision maker) and get implied permission to contact. If you cannot Initiate Outreach, you need to go back to the Suspect For Prospect step. Use the following scripts…

Location:

The scripts should be sent from your full name from generic email domain such as Gmail or Hotmail, not a branded domain. You will use the same email Subject line and thread. Load responses into CRM.

2 Target Outreach (Qualify)

Description:

Once you have found the correct decision maker you need to start qualifying them for interest in your product. This is not a sales step. If you sell here, you could be reported for SPAM. If you cannot Target Outreach, you need to go back to the Suspect For Prospect step. If you do not hear back send the No Reply Script.  If they are not interested send the Not Interested Script. If they are too busy send the Not Now Follow-up Script.

Location:

The scripts should be sent from your full name from generic email domain such as Gmail or Hotmail, not a branded domain. You will use the same email Subject line and thread. Load responses into CRM.

3 Needs Analysis

Description:

Once you have contacted the prospect or decision maker and qualified them for interest in your product, you then need to find out more about their needs. This is not a sales step. If you sell here, you could be reported for SPAM.  If they want to talk to you based in the Needs Analysis In-Person Script then use the Needs Analysis Script. Use the following scripts, as a guide only as their response will be dynamic.

Location:

The Needs Analysis In-Person Script should be sent from your full name from generic email domain such as Gmail or Hotmail, not a branded domain. You will use the same email Subject line and thread as in the Target Outreach Step. The Needs Analysis Script will be delivered in-person if possible or via phone as an alternative, but not via email. Neat casual attire is required. Load responses into CRM.

4 Solution Presentation

Description:

Once you have received permission from the prospect or decision maker to discuss their needs and discovered about them, if the prospect does not have a need, then move back to the Suspect For Prospects step. If the prospect has a need, you then can start selling. The script sequence should follow: Story, Solution and Offer Scripts. Use the following scripts as a guide only, as their response will be dynamic.

Location:

The scripts should be delivered in person if possible or via phone as an alternative, but not via email. Neat casual attire is required. Email should only be used for sending follow-up and written information after conversation. Load responses into CRM.

5 Trial Close

Description:

Once you have presentenced the product, you then should ask for a Trial Close. If the prospect accepts the solution, move on to the full Close step. If the prospect does not accept the solution, move on to the Negotiation step. Use the following scripts as a guide only, as their response will be dynamic.

Location:

The scripts should be delivered in person if possible or via phone as an alternative, but not via email. Neat casual attire is required. Email should only be used for sending follow-up and written information after conversation. Load responses into CRM.

6 Negotiation

Description:

If you have asked for a Trial Close and the prospect does not accept the solution, you then need to determine their objection(s), then answer their objection(s) and negotiation with them. Use the following scripts as a guide only, as their response will be dynamic.

Location:

The scripts should be delivered in person if possible or via phone as an alternative, but not via email. Neat casual attire is required. Email should only be used for sending follow-up and written information after conversation. Load responses into CRM.

Determine The Objection

The main objections prospects may have (in rough order) include:

  1. Have no need or willingness to pay;
  2. Have the wrong timing and it’s not urgent;
  3. Have no buying authority or ability to pay;
  4. Have no budget or ability to pay;
  5. Do not know what they get with the product;
  6. Do not like or trust your brand;
  7. Do not believe (i.e. trust) the product, service or solution will work;
  8. Do not believe (i.e. trust) the product, service or solution will work for them; and
  9. Do not think the product, service or solution is valuable.

Beyond not being qualified (1-4 above), objections raised usually come down to not enough information or rapport.

These main objections could be expressed in the following ways:

  1. “I’m not interested”;
  2. “I can’t afford it”;
  3. “I can’t make the decision”;
  4. “Not right now”;
  5. “How do I know it works?”;
  6. “This is risky for me”;
  7. “I don’t know you”;
  8. “What do I get?”; and
  9. “I’ll think about it”.

Answer the Objection

After you have determined their buying objections, it’s time to address them so they become buyers. Here are some tried-and-true ways to address the sales concerns:

  1. Ask them demographic and psychographic questions to re-qualify and segment them, explaining what type of buyer the product, service or solution is intended to benefit and those it cannot help;
  2. Re-contact them at a later date, inject scarcity and provide incentives or bonuses along with the purchase;
  3. Same as 1;
  4. Ask them demographic and psychographic questions to re-qualify and segment them and ask who the decision maker is;
  5. Explain the product features;
  6. Give them your product, service or solution expertise, credibility or credentials in the form of informational and educational marketing and sales content to teach about your brand and give them the brand story behind the product, service or solution;
  7. Provide them with social proof in the form of testimonials and success stories, give them the story behind the product, service or solution, give them your product, service or solution expertise, credibility or credentials in the form of informational and educational marketing and sales content to teach about your brand and explain what type of person the product, service or solution is intended to benefit and those it cannot help ;
  8. Provide social proof via case studies, provide a risk reversal in the form of a money back guarantee, give them the story behind the product, service or solution, give them your product, service or solution expertise, credibility or credentials in the form of informational and educational marketing and sales content to teach about your brand, show them the benefits, advantages, results or outcomes that your product, service or solution provides and show your product, service or solution is different or unique; and
  9. Give them the product, service and solution price and translate the value of that price for them into different currencies such as time and effort.

7 Close

Description:

Once you have answered their objections and negotiated with them, the prospect has an increased chance of accepting the solution now, so you then need to ask the Close again. If the prospect still does not accept the solution, you need to move back to the Negotiation step and repeat. Use the following scripts as a guide only, as their response will be dynamic.

Location:

The scripts should be delivered in person if possible or via phone as an alternative, but not via email. Neat casual attire is required. Email should only be used for sending follow-up and written information after conversation. Load responses into CRM.

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4094
How To Enjoy Marketing And Sales Rejection https://orrenprunckun.com/2018/08/13/how-to-enjoy-marketing-and-sales-rejection/ Mon, 13 Aug 2018 14:19:22 +0000 https://orrenprunckun.com/?p=3948

People hate rejection.

Surveys about human fears reveal that public speaking is the most fear activity, even more than death.

Why is this?

Public speaking means getting up in from of people and presenting something.

That something, or worse still, you is being evaluated by the audience.

If they like it, then that something or you are accepted.

If they don’t like it, then that something or you are is rejected.

It’s safe to say that the fear of public speaking is the fear of rejection.

I’ll say it again…

PEOPLE HATE REJECTION.

But the thing is, in marketing and sales, not just the strict sense that is marketing and selling any product, service or solution, but in the broad sense of marketing and selling sponsorship, partnerships, romantic relationships, jobs, customers, ambassadors, yourself and so on.

People are then passive aggressive as they don’t know how to be assertive.

This comes from a fear of rejection.

Most people fear to be upfront about what they want and need, because of potential rejection.

Yet ironically, rejection is a positive thing, it reveals incompatibility really fast.

Here it is: rejection saves all parties involved time.

It acts as a way to segment suspects into alignment.

In other words, qualified.

Are they unaligned with what you are marketing and selling?

Are they aligned with what you are marketing and selling?

If it is former, they were never going to buy as they have no need.

If it is latter, they are open to buying as they have a need.

Basically, you are looking for a big enough servable market.

Let’s have a quick look at an example, in this case, a health product…

You ask someone “Do you want to be healthier?”

And they respond “No.”

For all intents and purposes, they have rejected you or what you were hopefully trying to sell.

No matter, how much begging, pleasing, over-selling or sales tricks you try on them, they will keep saying no and start to resent you.

Whether you know it or like it or not, here you are proactively trying to segment suspects into alignment.

A more subtle version is simply putting brand communication out into the market, say via marketing and sales content.

This time, you are not directly asking someone “Do you want to be healthier?”

But you are still, trying to segment suspects into alignment.

People that are not interested will not respond.

Again, for all intents and purposes, they have rejected you or what you were hopefully trying to sell, in an indirect way.

If George Clooney asked a woman out, she’d drop and cancel everything to go on it.

If they are not responding, they simply are not interested.

I have mentioned that rejection is based on lack of need.

But something people are just nasty in how they reject you.

Maybe they are rude to you; maybe they call you nasty names, maybe they ignore you, maybe they threaten you or your family (trust me I have had a cold-called for charity, and I have heard everything!)

People take rejection personally and usually make it mean that there is something wrong with themselves at a core level.

This is utter nonsense.

Except if you did something truly heinous, the rejection is not about you personally and has no reflection on your identity or who you are.

Seriously.

They don’t know you.

At this stage, they don’t know you on a deep level, so they are only rejecting the context or the image of you by association in their mind.

For example, you’re wearing a red jumper, and their high school bully also wore the same red jumper.

They only have a small amount of data to make a choice on, and they certainly haven’t had time to get to know you as a person.

Based on this small amount of data, they are not rejecting you, but their perception concept or story of you.

However, if one person says you have a tail, they are probably insane, because obviously, humans do not have tails.

However, if 100 people say you have a tail, they are probably right, and you better turn around and see if it’s true, as they may be on to something!

What does this all mean?

It means based on the small amount of data you have given them, they have run it pass all of the rules and situations and experience they have had in the past that are similar and made a snap judgment about this current situation in relation to their past.

Malcolm Gladwell talks about this in his book Blink.

They are relating you to their past experience.

You have never communicated with them, so the rejection cannot be about you as a person.

If you don’t have positive signs from people, then they are unlikely to be emotionally willing to talk to you – you have no idea why, so don’t read it as a rejection.

According to Maslow’s Hierarchy of Needs, humans desire to be self-actualized by being connected to things that are important to them.

Further, after physiological and safety needs, humans naturally want to be connected and deepen relationships with others.

So if you are being “rejected” or your communication isn’t working, it could be because of their emotional state.

Most people’s emotional willingness drops due to basic physiological factors such as:

  • They are tired;
  • They are hungry;
  • They are cold;
  • Etc.

They are not normally emotionally unwilling, but for those factors.

Beyond those, emotional unwillingness could be due to unusual circumstances such as:

  • Their cat died;
  • They lost their job;
  • They broke up with their partner;
  • Etc.

Or it could be that they are responding to their context of you, not actually you.

Their context of you is how you appear to them based on their past experience.

Most people’s context of a stove top is that it is hot and will burn them, even if the stove is off and physically cannot burn them.

At this stage, they don’t know you on a deep level, so they are only rejecting the context or the image of you by association in their mind.

For example, you’re wearing a red jumper, and their high school bully also wore the same red jumper.

A rejection, in other words, mean you cannot progress further in trust building, means that the person who is rejecting you is uncomfortable in deepening the relationship based on:

  1. Them not having enough information; or
  2. You communicating at a level of rapport that hasn’t been established yet (as per the previous “let’s get married” example.)

But if you are still being rejected or your communication isn’t working, it could be because of their emotional state…

On top of that past experience, you have no idea what situation they are currently going through.

Did they get a cancer diagnosis?

Did their cat die?

Did they lose their job?

There are so many other, legitimate and plausible factors to why they are rejecting you.

And unless you ask them directly (you may not get a straight answer then, because people lie to protect people feels or they are simply unaware or not confident to say so), you will never know the true meaning behind the rejection.

And even if you did, who cares, it doesn’t change the fact that they are still not aligned or qualified.

So there is no point, spending precious emotions energy and time dwelling on the reason.

This is not narrow either!

It applies ANYTIME you directly or indirect, proactively or passively ask something of someone.

My modus operandi is as follows: “Reject me quickly, so we do not waste both our time!”

I want to spend my time, money and effort on people that are aligned and qualified with what I am marketing and selling, as I know that is the best use of those resources.

Imagine if you follow this simple rule how much time, money and effort you would save.

This means that marketing and sales are a numbers game.

This means you can’t align and qualify them all.

This is because you are interacting with other humans.

And humans are complicated and complex, and this means you do not have 100% control over the outcome.

Attrition rates as you move down the marketing and sales funnel.

It’s also very hard for you to know where they are at.

Yes, you can ask, but unless you have a lot of rapport and trust, then it’s unlikely you will get the truth.

“Maybe,” “No,” “No, not right now,” “I don’t know” etc. are all better than ignoring communication.

But again, ignoring communication reveals incompatibility really quickly (if that’s a core value.)

No may only mean no for now, not no forever.

It means “no, until I have a need.”

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3948
Paid, Earned & Owned Media https://orrenprunckun.com/2018/08/13/paid-earned-owned-media/ Mon, 13 Aug 2018 14:06:35 +0000 https://orrenprunckun.com/?p=3941

Most businesses want more customers.

Or if they have too many customers, then they want to get more out of their current customers.

I don’t know anyone, not in either of those situations.

They have a Facebook page and do some PR, but wonder why they don’t have as many customers as they want.

Or they have an email list and do some advertising, but wonder why they don’t have as many customers as they want.

Or they have some great PR and do some paid placement, but wonder why they don’t have as many customers as they want.

I coach and consult to a lot of small businesses on marketing and sales and one of the most common statements I hear is “we are going to get more customers via social media.”

LOL.

As soon as I hear that I immediately know they have no idea of what they are talking about.

They have heard some advice about social media being the be-all-and-end-all of customer acquisition.

Don’t get me wrong; it can be.

But there is quite a bit of nuance to social media and how it relates to sound principles of marketing and sales.

The vast majority of prospects (remember those are the people who are not yet customers) come from sources.

Those sources have two differentiating elements – control and ownership.

The legal structure called a company also has control and ownership.

Both are important, yet very different.

Paid sources of prospects are where your brand controls but DOESN’T own the pipeline of prospects.

This is sources such as advertising, paid placement and so on.

Yes, social media fits in here.

Earned sources of prospects are where your brand both DOESN’T control and DOESN’T own the pipeline of prospects.

This is sources such as PR, SEO, social shares and so on.

Yes, social media fits in here.

Owned sources of prospects are where your brand both controls and owns the pipeline of prospects.

These are sources such as your email list, social media pages and so on.

Yes, social media fits in here.

I tried to make it obvious, but here it is: social media could come from all three sources

Social media advertising, social shares and a fan page respectively, for example.

Businesses that want more customers, or have too many customers and want to get more out of their current customers, need to use all three sources in combination, not just solo or in a pair!

So, how do you use control and ownership in the context of paid, earned and owned prospect sources to get more customers?

It’s simple, yet not very obvious.

You get prospects you paid for (that you control but you DON’T own) through advertising, paid placement and so on to qualify themselves and turn them into an owned source.

There are lots of ways to do this.

You get prospects you earned (that you DON’T control and you DON’T own) through PR, SEO, social shares and so on to qualify themselves and turn them into an owned source.

Again, there are lots of ways to do this.

You then use those once paid and earned prospects as owned prospects and market and sell to them through your email list, social media pages and so on.

Want more prospects?

Just turn on the paid, earned and owned prospect pipeline taps all at once.

“We are going to get more customers via social media” as it’s a useless statement.

Snapchat filters, Twitter hashtags and Instagram photos alone are fluff, and you’re most likely wasting your time and money.

Don’t repeat silly mistakes!

It’s not based on some pimply teenage who thinks the social media bandwagon is cool.

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3941
Competition Hacking: How To Hijack Your Competitors To Save Time, Money And Effort And Increase Profits https://orrenprunckun.com/2018/08/13/competition-hacking-how-to-hijack-your-competitors-to-save-time-money-and-effort-and-increase-profits/ Mon, 13 Aug 2018 14:00:05 +0000 https://orrenprunckun.com/?p=3938

Facebook wasn’t the first social networking site, Myspace was.

Google wasn’t the first search engine, Yahoo! was.

It’s much harder to invent something new; then it is to copy something existing.

And it’s usually better to be a fast follower than a leader in this instance.

This method works as the competition has tested for you as you don’t need to re-create the wheel.

You can do the same for your business and grow.

Sorry to say this, but that you are not Steve Jobs.

The likelihood of your creating a million dollar invention is slim.

To prove my point, if you were Steve Jobs, you wouldn’t need this guide.

But no all is doom-and-gloom!

It’s possible to be a fast follower and be really successful, and that is what this guide is about.

Specifically, you will be a fast follower of a wildly successful:

  • Product, service or solution; or
  • Marketing campaign.

Depending on where your brand is currently.

You are going to do this by hacking your competitors.

This guide is for two types of people:

  1. Those with a new product, service or solution; or
  2. Existing product, service or solution.

Why Competition Hacking Is Important

So, why would you want to hack your competitors?

Simply because it will save you time, money, effort and increase profits.

Sounds great, right?

Sure does!

What Competition Hacking Is

In broad terms, you are doing competitor intelligence.

Or put another way, you will be doing a marketing hack.

A Hack could be defined as:

“Using something to make it do what you want.”

Or:

“To obtain unauthorized access for gain.”

We will be doing both.

A marketing hack is therefore:

“Using your competition to save you time, money, effort and increase profits by obtaining unauthorized access.”

Sound fun?

Let’s get started.

How To Hack Your Competition

To give you a board picture, we will find what your competitors are doing that is currently working well for them, that is, making them money.

We will then redirect existing traffic that is already there, from the internet firehose to you, instead of going to your competitors.

This works because, if there is competition, especially if the competition is purchasing advertisements, then that competitor is making money.

The existence of advertisements means a brand is making or has an advertisement spend.

If they are spending money, they, by default need to be making money.

Not to be consumed with profit, as the sales may be loss leaders.

But nonetheless, this still means it’s a proven market with proven sales.

Where there is competition , there are customers.

Of course, there are acceptations to this, but this is a rule of thumb for this guide.

With that in mind let’s explore the step-by-step method…

The first step we come across our first decision tree.

We want to know who you are.

We need to determine if you are a startup business or an existing business.

If you are an existing business (with a product, service or solution, then skip this first step and move on to step 2 Hack Competitors.

If you are a startup business (without a product, service or solution yet), you need to Find Products, Services or Solutions.

This process follows:

  1. Find Passion;
  2. Find Advertisements;
  3. Find Products; and
  4. Profit decision.

Let’s start with…

1) Find Products, Services or Solutions

1a) What is Your Passion

The first part of Find Products, Services Or Solutions, is to find your passion.

1b) Find Ads

The second part of Find Products, Services Or Solutions, is to find advertisements.

Not just any ad, ads for products, services or solutions that you are passionate about (Step 1a.)

Here is how to find ads.

You can:

  • Search Google for keywords related to your passion;
  • Scroll through your Facebook feed;
  • Etc.

Then you need to click on the ad and find the retail price.

1c) Find Products

The third part of Find Products, Services Or Solutions is finding products and suppliers.

You need to determine what type of product it is.

Here is the next decision tree:

Is it Physical or digital?

Depending on your answer you need to find the product in the original advertisement.

Once you have found the products retail price, if it is a physical product, you need to then go to search Google for the following:

site:http://aliexpress.com + any keyword that explains the product.

Or:

Save the product image and Google reverse image search for it.

If it is a digital products or service, go to fiverr.com and search for the products keywords.

Find a service provider who offers the same service or multiple services providers that you can bundle to be the whole service.

If you can’t find suppliers you need to abandon that product, abandon it as it will be too hard and start again at 1b.

If you can find a supplier, then you need to find the wholesale price from the supplier or manufacturer from these sites.

1d) Profit Decision

The fourth part of Find Products, Services Or Solutions is a decision if you should pursue this product, service or solution.

There is a market, but you need to know if it is profitable.

Margin is revenue take costs.

Margin is the difference between the retail price and wholesale price.

Mark up is cost multiplied by a factor to give revenue.

Mark up is the wholesale price as expressed as a multiplier or percentage.

Don’t worry about margin, so aim for a 10x mark up to be profitable.

Based on this, you need to decide if you want to pursue that product, service or solution.

If it is not at least 10x markup, then abandon it as it will be too hard.

If it is unprofitable, then you need to repeat this step until you find a product, service or solution that is profitable.

If it is profitable, then move on to step 2, Hack Competitors.

2) Hack Competitors

The most important factors for Hacking Competitors is knowing the following:

  1. Pipeline;
    • Landing pages
  2. Brand and Marketing and Sales Communication;
    • Ads
  3. Content;
  4. Traffic sources; and
  5. Engagement.

Without that, it will be very hard to hack them.

Well find these out by the following:

  1. Market Research;
  2. Collect Swipe;
  3. Find Market Trends;
  4. Out Do Competition;
  5. Implement Changes;
  6. Measure Changes; and
  7. Repeat.

Let’s start with…

2a) Market Research

The first part of Hack Competitors is Market Research.

Once you have a product, service or solution, you need to hack your competitors.

You need to search Google for your product, service or solution or industry keywords to find your competitors, both direct and indirect – those up or downstream from your product, service or solution.

Upstream means a product, service or solution that is used before your product, service or solution.

Downstream means a product, service or solution that is used after your product, service or solution, usually a next sell or affiliate offer.

You need to list all in a spreadsheet including:

  • Name of website;
  • URL of website;
  • Product, service or solution offered;
  • Direct, up or downstream from you; and
  • Contact details.

Each URL will, of course, give you following Hacking Competitors factors from before:

  • Landing pages (via URL).

Next, load each competitor’s URL into Similarweb (https://www.similarweb.com.)

Similarweb finds and collects intelligence about websites.

Similarweb will show you:

This ticks off the following Hacking Competitors factors from before:

  • Parts of Marketing and Sales Communication; and
  • Traffic Sources.

Of the Traffic Sources (Top Referring sites) listed on Similarweb, copy those URLs into separate browsers to find ads that run on those sites that lead back to your competitor’s site.

For example, a competitors site, abc.com, may have a traffic source from xyz.com, so you would go to xyz.com and find ads on that site that direct to abc.com.

You also want to know the answers to:

  • How much traffic does each competitor get?
  • Where do they get traffic from? Referrals? Search? Display – Ads/publishers? What search Terms? What Social?

2b) Collect Swipe

Swiping is the marketing term for collecting competitors marketing materials.

The second part of Hack Competitors is swiping all their Hacking Competitors factors from before:

  • Pipeline;
    • Landing pages;
  • Brand and Marketing and Sales Communication;
    • Ads; and
  • Content.

This means you need to start swiping and collecting data on everything via screenshots.

You will start by going to publishers/referrals site, clicking on a competitor ad, then follow their entire marketing and sales pipeline:

A pipeline usually goes like this:

  • Ad with offer;
  • Landing page with offer (such as an opt-in or purchase);
  • Upsell/email follow-up offers;
  • Purchase Thank You page; and
  • Remarketing on other sites, you visit.

Basically, you are following their entire marketing and sales sequence, including purchasing, to see exactly what your competitors are doing to get, keep and grow prospects and customers, so you can reverse engineer and copy (without breaching copyright) to save you time , effort and money testing to see what works the best for your business.

Purchasing is important because after the purchase there are many things that occur for customers only and aren’t available to the public (AKA prospects).

The purchasing ticks off the final Hacking Competitors factors from before and allow you to go behind closed doors and see what else they do for:

  • Engagement.

Finally, you want to ask to join their affiliate program, again there are many things that occur for affiliate only and aren’t available to the public (AKA prospects).

Once you have done this, you need to repeat this for the rest of your competitors.

2c) Find Market Trends

The third part of Hack Competitors is to find trends in the Market.

Once you have completed your market research, you then need to start looking for trends and common denominators among all your competitors:

  • Pipeline;
    • Landing pages including Upsells;
  • Brand and Marketing and Sales Communication;
    • Ads including Retail Price;
  • Content;
  • Traffic sources; and
  • Engagement.

Capture all of these trend insights into a document with the same headers.

2d) Out Do Competitor’s

The fourth part of Hack Competitors is out doing your competitors.

Once you have found market trends, you then need to work out how your business can be better than all of these.

This comes down to a better value proposition, but also specifically:

  • A more premium brand ;
  • More persuasive Landing pages;
  • More compelling Brand and Marketing and Sales Communication;
  • More persuasive Ads;
  • More valuable Content; and
  • More valuable Engagement.

But it shouldn’t be on price.

2e) Implement Changes

The fifth part of Hack Competitors is implementing these changes you identified to outdo your competitors.

Once you have outdone your competitors, you then need to implement the changes.

This includes setting up:

  • Ads, paid content, affiliate or referral offers on the same referral and display site they do;
  • Setting up the same SEO keywords and backlinks on your pages they do;
  • Insert the same SEO keywords into your internal content;
  • Setting up same social media platforms and distributing content they have;
  • Setting up similar landing pages;
  • Setting up similar pipeline sequences for Engagement and Marketing and Sales Communication;
  • Etc.

2f) Measure Changes

The sixth part of Hack Competitors is measuring your implemented changes.

After you have implemented changes, you need to measure that your new changes are actually working.

You do this through split testing.

2g) Repeat

Now that you have finished this, it is a never-ending process of split testing, so you will repeat by going back to 2a).

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3938
Observing From Afar: How To Now Pick A Marketer https://orrenprunckun.com/2018/08/09/observing-from-afar-how-to-now-pick-a-marketer/ Thu, 09 Aug 2018 06:09:24 +0000 https://orrenprunckun.com/?p=3857 How not to pick marketing and sales help through the fishbowl

I see this all the time, someone posts on social media that they are looking for help with their marketing and sales.

Then a whole bunch of marketers reply saying they can help.

They see “easy” prey.

But what they don’t realize is their rookie marketing and sales mistake, this shows how little they understand about value propositions, branding, positioning, product differentiation and most importantly lead generation (such as cold, inbound, referral).

How Meta.

The request for help could be seen as cold marketing, but they approached cold selling the wrong way.

I actually wrote in depth of how to do cold marketing the right way (hint, it doesn’t look anything like what they did or has any selling) here.

Research says that 93% of communication is non -verbal.

Understand this: your actions say a lot about you, whether you like it or not.

When you claim to be at marketing, but the way you market yourself is incongruent (aka shit), the potential clients you are approaching can see this and project that the way you marketed yourself to them was poor and that is exactly how you will help market them (poorly).

Are you congruent?

Psychology says it’s very difficult to see yourself and your actions objectively with up emotional filters (aka bias).

I bet what you are doing in your business is incongruent with the image/brand you protect and the brand perfection you want and deserve.

You need to audit yourself frequently, so you know you’re not drinking your own cool-aid.

And certainly, hope you don’t pick your marketing and sales help based on marketers responding to you all in the same fashion saying they can help you.

If you need help with your believability in your marketing and sales, then get in contact with me here.

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$1 Offers: How To Create An Effective Trip Wire https://orrenprunckun.com/2018/08/09/1-offers-how-to-create-an-effective-trip-wire/ Thu, 09 Aug 2018 03:10:59 +0000 https://orrenprunckun.com/?p=3809

Every time I drive past Hungry Jacks I see similar ads and offers to the following:

  • $1 Small Coffee; or
  • $1 Medium Thick Cut Chips;
  • And so on…

At first sight, you may wonder why Hungry Jacks offer this?

$1 Coffee?!

$1 Fires?!

How on earth could they make any profit off these?!

They don’t.

And Hungry Jacks knows this and that’s the point.

But you may be asking why would Hungry Jacks not want to make profit…

…Isn’t that the purpose of being in business?

Yes it is, but it’s the ultimate purpose.

Not the purpose of these offers.

Or any offer at the start of a pipeline.

The purpose of these offers is to convert a prospects (a prospect is someone who hasn’t purchased yet) into customers (someone who has purchased already.)

This offer is called a Tripwire Offer.

Or a Low Priced Offer.

A Tripwire is a wire stretched close to the ground that work as a trap, explosion, or alarm when it is disturbed and is aimed at detecting or preventing people or animals entering an area.

Used in a marketing and sales context, it is an offer (like the examples) that work as a trigger when purchased, to detect when a person moves from a prospect to a customer.

This is about sales and converting leads to paying customers.

At this point, prospects have now become customers.

This is a very powerful buying psychological decision.

If you recall back to the “few ways to market and sell” I mentioned at the start of the guide, this means they are more likely to buy higher-priced offers (such as Main Offers and Profit Offers), more often.

This is also called a Loss Leader.

A Loss Leader is defined as a product sold at a loss to attract customers.

Smart marketers will also price their low priced offer at the same price it costs them to acquire traffic in the first place.

I refer this strategy as a “Self-Paying Offer.”

For example, if it costs you $10 to acquire traffic and convert that traffic to customers via a low priced offer, then you should aim to price your low priced offer at $10 as well, to make it cost neutral.

This means you can buy as many customers as you can find dollars to pay for them, without being at a loss.

The Low Priced Offer then becomes a Loss Leader, and you build up a list of customers for free, even if you have made no profit at this stage.

This is much more beneficial than just having a list of prospects.

The Tripwire acts both as an incentive to come into the shop, but also to buy.

Hungry Jacks could have just used a Gated or free offer which would have just got a prospect to come in and redeem it and be less likely to buy and up sell.

So Hungry Jacks uses a Tripwire to do both things in one offer.

Hungry Jacks actually makes all their profit on the drinks and the upselling of drinks.

When you think about it, what is Coke made up of?

  • Sugar;
  • Water;
  • Flavouring; and
  • A shit-load of profit!

The first three all being very cheap to produce.

So here are some other examples of Tripwires:

  • In person – Apple;
  • B2B – article;
  • B2C – physical digital product;
  • Free plus shipping;
  • And so on…

So you may be asking, “how do you create an effective Tripwire?”

It’s simple…

You take your full featured product in your Main Offer.

In Hungry Jacks’ case a Large Meal of burger, drink and fries.

Then you take one of those item, which is ideally:

  • Low cost;
  • Low profit margin/mark-up;
  • Scaleable delivery; and
  • High perceived value.

And offer it for a nominal, yet really attractive price, like $1.

For example you’d offer the burger or fries for $1, as they did in the example before.

The price need to be relative, as you probably wouldn’t offer a $10,000 Main Offer’s tripwire for a $1, but you may.

It’s all contextual and specific examples are beyond the scope of this guide.

Incidentally, this is a very similar process of how you create an effective Free Offer too.

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