17 IMMEDIATE MARKETING SOLUTIONS - Part 2

Hello, hello, hello people. This is Social Media Boss Lady and I'm back again. A new week, new episode. Well, not really a new episode. It's the continuation of the last episode that you heard, which was the 17 immediate marketing solutions for people who want monetary rewards but can't seem to get started. So I took you through 9, the last episode. So I'll take you through the remaining 8 this time. So yeah, it's a free day still for me. No dog, no disturbance, no distraction, just everything working out perfectly fine. And so, you know, if you're looking out for the time whenever I would release a podcast— I mean, release an episode It comes out Thursdays, every other Thursday. So if it came out this Thursday, so it's gonna come— the next episode will be out the other Thursday. So that's 2 Thursdays from now. So every other Thursday. All right, so stay tuned. That's when we release these episodes that you are always dying to hear. Okay, so, all right. Uh, so next, um, marketing solution. So if you need a step-by-step referral generating system that you can use, I would help you with something specific. So I've basically started the solution, so I'm in number 10 now. Okay, so this is what you can do. Sit down with your— let's say it could be your clients, or it could be people that are generating referrals for you. Okay, you sit down with them and you say something like this. Now, before we start this process, I want to share something serious and relevant with you. We started this business dash years ago, let's say 10 years ago, and with a very unique belief. We believe that our system Freedom can only be predicted, or rather predicated, by the success we create with clients like you and your desire to share that success with as many other people you care deeply about. So we have a process. We have a choice of spending our marketing budget on radio, seminars, advertising, and so on. We've chosen instead to invest in research, educating our people so we are the best we can be for you. Every client we take on, we share with them what we're going to do with them first, and we are going to dash— we're going to concern ourselves, care, and be there through everything that happens, good or bad. We'll never avoid anything negative and always give you the most well-reasoned decisions and we are committed to dash, whatever your commitment is. What we ask is this: upon achievement of this, you agree in the beginning to refer to us a list, let's say 3, 5, 7, 10 quality like-minded people you care deeply enough about in your life whom we can explore the possibility with. We'll give them best reasoned second opinion. We'll give them our straightforward philosophy and so on. They don't have to use us, but we ask this of you because if we don't get this from our clients, we have to run ads, charge you a surcharge, and it gives us less time to do what you really want us to do, which is dash. I mean, if I got told that in an email, heck, I give you people that are like me as referrals because you are telling me that this is what you will do for every person I refer to you, a quality person. And it's a good sale. So you could try a script like that. If you have to say something like that, definitely you might not be able to say that word for word, but you could tweak that to suit your everyday language. If you have to write that in an email, in an email rather, you would have to, um, work around, um, your industry, your product, your services, what you do to be able to suit that. Okay. All right, so, uh, so the next question a business might have, which is, so how do I escape the price or commodity business and become more profitable? Now, simple solution to this is quantify the soft attributes and show what it means in dollar savings, time savings, personal savings, What the output is worth, and so on. Quantify your performance. That's how you can escape the price or commodity business and become more profitable. Quantify what you do in terms of money, in terms of time, in terms of personal, in terms of output. Quantify your performance, and then you'd be able to become more profitable. Okay, so you might also have a question: how do I keep and retain more of my clients or my customers? Members. Simple solution for you: you have to understand what people value when you're not in their life. You have to find implicit and explicit ways to keep them aware of the performance and value that you're providing beyond just the service. You have to keep that top of mind for them. Now, doing more things, educating them more, bringing them experts, investing back some of your profits So that it would be so explicit that you are in this for the long haul and you're not just doing it passively. I mean, sometimes your competition will try to take away your clients or your customers. They'll try to take them to— some of them actually try to take them to lunch. So you might— you've got to be able to express more of the reason why you're committed to your clients or your customers for life. You need to invest in them because they are your long-term investment and you know they are worth it. So that's how you keep or retain and maintain or retain more of your clients and customers. You need to understand what value the— what people value when you're not in their lives. So you need to find ways to make them aware of the value you offer to them on a daily basis that goes beyond the sale, that goes beyond the product, that goes beyond the service. Be in their lives. Be of it, not just for the sake of getting their credit cards or their debit cards or their cash or whatever, or their checks. Okay, so, um, you might have a question like, okay, so how do I create win-win partnerships to drive traffic to my business? So here's a simple solution for you. Find people that have clients that are doing relative things. Make a comprehensive list of your customer profile, and then go to people that have the market directly or indirectly. Those who spend the time, the efforts, performance, fulfillment, and have the trust and credibility of the same market that you want, and they can introduce you. Find out people like that. Partner with them. Put them— have them put you on their blog, and you do the same thing. Likewise create a— they let them create a program with you and all that and so on. So you need to find out people that have direct access or distribution to your audience, or they are your ideal clients, and then start from there and see what you can do to be able to build that trust, that credibility with their audience. All right, okay, so you might have a question like, um, so How do I get my message in front of more of my target market and have them self-identify themselves? Oh, this is a good one. This is a good one. This has to do— this has to do with, um, easy. Don't waste your time cold calling. I'm not saying cold calling is bad, but don't waste your time doing it. You could add it as part of your marketing strategies, but it takes a long time. So Find out who already has the market that you want, and from there you have lots of flexibility. So for example, you could give them a self-diagnosing test to self-identify themselves, because you need to find out who has my market. So who's got my money? I think Grant Cardone always says, so who has the money? Because you need the contracts— the contacts to be able to get the contract. Yeah, so find out who's got your money, meaning that who's got your market, who's got the people that you need, and then find out work with them. Simple. This is one question that every time I do a consultation session with my clients or my prospective clients or prospects or leads, I find out that they really don't know. Anything about this, and this is the customer LTV, which is customer lifetime value. Okay, so how do you calculate your customer's lifetime value? All right, so I'm going to give you a summarized version. It's not as simple as A plus B plus C is equal to D. Ah ah. So. You probably are going to have different products, or you probably have different products or services. You have different categories of buyers. You have different sources of those buyers. Okay, so first of all, look at the first sale that predictably comes from different products, categories, or media— medias or distribution. Then you could also look at the profit or the real profit or the loss that comes from those products. And then in probably in a realistic timeframe, right? Look at what flows in in terms of repeat orders, alternative orders, referrals, and then add it up. Conservatively. It's not as easy as you thought, right? So basically you have to look at the products that you have, right? Look at the frequency of purchase. You would also looking at the frequency of purchase. You look also look at the average order, the average order value of these products, right? And then when you add up that, and I think you divide it by the number of clients that you have. Yeah, so all I said there, I just summarized it for you into that formula. So basically, yeah. So I'll give you an instance. So let's say, for example, um, you had a sale, right? Let's say the profit from your first sale, let's just say hypothetically came to about, let's say $200, right? And then your average repeat sales are like 5. So like 5 sales. So, and then your average client, um, stays with you for like 3 years. So basically I'm just, I'm just trying to show, show to you how to calculate your customer lifetime value. So in this case, the lifetime value would be the $200 times 5, which is the average repeat sales, times 3. So that comes to $3,000. Okay. So every time a new client comes to you or comes into the business, you would be making about $3,000. So you could either increase your business by incentivizing the sales— you're like, you could incentivize your salespeople with, let's say, 100% of the first $200 sales that comes in, since obviously with every new client your business is making $2,000, $3,000 $2,000. So you could say, okay, so sales guys— I mean, it really pumps them up to do more. So for every first sale you make, you get 100% of the profit. And so because you know that this will pump them up to bring in more clients, which obviously means as more clients are coming in, it's accruing revenue for your business. Over the lifetime of the client. Okay, so if you have any question, don't hesitate to ask me. I could take you through this over and over and over again. Okay, so you might have another question that says, um, so how do I reach more clients? Simple solution: leverage the people who already use you. And ask if they will introduce you to their contemporaries and counterparts. Easy. Leverage other people's time, other people's money, other people's resources, other people's ideas, other people's contacts. Okay. And the last question, um, which will be, how do you overcome objections that major or large companies have about doing business with you or with your company? So here's what you can do. You can ask them to give you their worst problem that no one else wants or can solve, and probably you take it on pro bono, gratis. Okay, then have them promise to give you more if you solve it, and then you grow together. So you can rechannel your marketing dollars into subsidizing the creative solutions to the problems. Now, there are certain problems that you could find solutions to even by going out there and maybe hiring 3 of the top people with whom, um, what all they just do is solve the problem for you. And then you could, you could, you could utilize rather your marketing funds for this. So you become, um, the company that takes it on, figures out the solution, and you don't even charge for it. So this simple quid pro quo is executed, and then they honor you, honor you for it when you deliver. So if these big companies are having challenges of doing business with you. So just meet them, tell them to give you the worst problem that they have ever had that nobody else wants to solve or can solve. You take it on freely, no charge, and then have them promise you to give you more if you solve that problem, and then you grow together in a business relationship. Okay, so basically I think I've gone through all the immediate marketing solutions, um, that I got from Jay. And, um, it basically opened my mind to a lot of things that you could do as a business owner, as marketer, as an entrepreneur when it comes to tackling several problems or challenges that you may have in business. And so that's it. And I hate to go, but I have to. But I'll see you again next at the next episode. And I promise you, like I think I did say that in the previous episode, I promise that we'll switch things up a bit. So you will not really be hearing marketing, marketing, marketing every time. But we could tell some stories. We could tell some business stories. We could break. People on the podcast. So get ready, I might just hit you up and say, okay, so you have won a spot to be featured in our podcast. And then so we will bring you on. I'm sure definitely you all love that. Okay, so this is Social Media Boss Lady signing out. And as much as I hate to go, I have to, but I'll be back soon. So take care, guys. Bye and have a lovely day ahead. Bye.