September 2009

First time here?
Check out my "Best Of" Posts on Marketing & Entrepreneurship and subscribe to my RSS Feed while you are at it.

img-3000If you’ve never been to Hershey Park, there’s a ride there called the Great American Chocolate Tour. On this tour, colorful coaster cars wind you through a recreated Hershey factor as you’re educated on the art of chocolate making.

You watch as the cacao beans are blended, pressed and refined. You see creamy milk chocolate turn in stainless steel vats, watch it drip into hardening molds or mix with nuts and caramel, and later see it whisked along conveyor belts to be wrapped in shiny packages.

Hershey’s pumps chocolate aroma into the air and, at the end, you’re given a Hershey’s kiss before being ushered into the Hershey’s gift shop.

After about 9 minutes of seeing, smelling and even tasting Hershey’s’ rich, silky chocolate, how many people do you think walk out of the gift shop without buying at least one item?

Not many.

Why am I telling you this?

Because today I want to talk about why educating your prospects (in a very specific way) is the most powerful way to turn them into paying customers and clients. (Don’t worry, I’ll tell you what it has to do with the Hershey’s tour in a minute.)

The first step is to understand that your prospects go through several distinct phases on their path to becoming your repeat customers.

They typically don’t wake up one day needing what you sell and waltz into your store. Which is why you have to grab their attention at all times, not just when they’re standing in front of you.

So among the phases they go through is the realization they have a challenge/goal they want to overcome/achieve.

To help make this as clear as possible, let’s pretend you own a local wine and cheese shop, and your prospect is a local community member who’s throwing a dinner party.

The problem she becomes aware of is that she needs to choose enough of the right variety of wine to satisfy a large group of people with different likes and dislike.

Only, she doesn’t know a thing about wine.

So she knows she has a problem, now how is she going to solve it?

Most of your prospects in this phase start to research. And catching them now is critical.

Assuming this is common problem for many of your prospects, let’s say you put together a short report on the subject.

In the report you talk a little about the differences between sweet and dry wines, red and white wines; you talk about tannins and residual sugars. You give your prospect enough information about wine in general without naming any specifics, and then invite them into your store where you promise to help them pick the perfect varieties that will make their party a smash hit.

Now, think about how powerful this is. When you educate your prospect as they’re researching their problem, you do three things.

  1. Establish credibility and trust by proving your expertise and demonstrating you’re a leading in your field.
  2. Differentiate yourself from your competition. Prospects in this phase tend to be wary and assume everyone’s just “out for the sale.” When you educate them, you stand out by showing you understand them and what they’re going through, and that, unlike your competitor, you care enough to help them whether they buy from you or not.
  3. Offer a non-intimidating way to initiate a relationship. It’s much less intimidating to request information than to walk into your business. And it gives you the “upper hand” because now your prospects are coming after you instead of you always going after them.

So educating your prospects is key, but you have to do it is a specific way … you also have to sell them on doing business with you.

Think about the Hershey’s tour again. If all they did was tell you how chocolate is made, you wouldn’t be as tempted to buy their products at the end.

Instead, Hershey’s intentionally makes your mouth water, and then dumps you into their store to satisfy your craving. So in reality, their “educational tour” is just a calculated ploy to turn you into a buyer.

And it works.

To summarize, you need to both educate your prospects AND sell them on your service.

Give them just enough so they feel like they understand enough to not be “taken,” and then get them in your store to help them with the rest.

{ 0 comments }

Today, part 3 of our 3-part “7 Deadly Teleseminar & Webinar Sins” series. On we go …

After Your Teleseminar Or Webinar: The Most Common Sins

1. Not following up after the call: If you conduct your teleseminar, give your close, and stop … you’ve left between one-third and one-half of the money you should be making on the table. And there are 3 reasons why:

  1. Some of the people who register don’t make it to the call.
  2. Some of the callers don’t make it to the close.
  3. Some of the callers make it to the close and need another push before they’ll act.

Your post-call marketing will capture a percentage from those three categories and turn them into paying customers. Use as many ways as possible (fax, e-mail, direct mail, telephone) to follow up and drive your callers to a summary of your offer. Because without post-call marketing, almost all additional sales are lost.

2. Ignoring non-buyers: When your teleseminar ends and orders come pouring in, it’s easy to get excited about all the people who bought and forget the ones who didn’t. This is a huge mistake. Normally, less than half of your callers will buy on their first teleseminar. Which means if you’re ignoring them, you’re turning your back on 50% or more of your potential profits. Understand that just because someone didn’t buy on their first call, doesn’t mean they won’t buy their second, third, or fifth time on the line with you. Some people need an extra nudge, more information, have more questions, or require a different approach. To sell these people, offer them a second teleseminar or webinar focused on an unanswered question or nagging concern.

3. Not collecting testimonials: Testimonials are one of the most powerful forms of proof you can offer skeptical prospects. And overwhelming your callers with proof is a sure-fire way to bump your teleseminar sales. So it’s critical that you collect customer testimonial whenever possible. To encourage feedback from your callers, offer them something in exchange for their testimonial: an additional free teleseminar, a discount on one of your products, a free report … anything that gets them talking the exceptional results they achieved with you and your product.

4. Not sending highlights to your list: Since not everyone on your list will register for every call, it’s your job to make them feel the pain of what they missed. Send highlights to your list that tease the amazing content you revealed. Describe the life-changing information your callers received that they didn’t. Include comments from ecstatic callers. Write benefit-driven, blind bullets that make your list members regret their decision not to attend. All this will drive home how much they missed out on by not being on the call, and it’ll motivate them to sign up and show up the next time around.

5. Not automating your teleseminar: Doing a teleseminar or webinar once and making money is great. But doing a teleseminar once and then automating it so it brings in money day and night without you lifting a finger is extraordinary. If you’re manually doing the same teleseminar for the tenth time, you’re never going to get anywhere. Once you have a session that sells, you need to automate it so you’re free to move on to the next big thing (see sin #7).

6. Not leveraging your teleseminar: Teleseminars sell because your sales message resonates with your audience. Honing your sales message on your teleseminar and not translating it into another sales media is a complete and utter waste of your efforts. The best way to leverage the success of a profitable teleseminar or webinar is to have your session transcribed and then repurpose the content for salesletters, e-mails, reports and other copy. Your successful teleseminar includes all the key points you need to make, and because you were speaking instead of writing, know the delivery in casual and conversational. Using your teleseminar, your supporting sales copy practically write itself.

7. Thinking you’re done instead of thinking “what’s next?”: The key difference between my average teleseminar and webinar students and my exceptional ones is that the exceptional students aren’t content with “good” results. They’re constantly thinking about what the can tweak, adjust or add to their successful sessions to take them to the next level and beyond. They’re constantly thinking, “What’s next and what’s the fastest way to get there.” It’s tempting when you’re making “good” income to sit back and enjoy the ride. But when you’re doing well is the best time to step on the gas and launch yourself to the next level. Don’t get complacent; always focus on the next big thing. And remember, if you’ve automated your profitable session, you’ll have money pouring in as you work out what that thing is.

{ 0 comments }

Social Media for Upscale Retail Businesses & Marketing To The Affluent

by Michael Cage

In a time when putting food on the table and gas in the car can be a weekly struggle, spending money on high-end clothing, jewelery and handbags seems low on a long priority list for most.

So to…

[ Continue Reading This Post …]

7 Deadly Teleseminar & Webinar Sins: Part 2

by Michael Cage

In my last post, I covered the first part of this series,”Sinning before your teleseminar: Why some sessions fail before they even get started.” If you missed that post, you can read it here: 7 Deadly

[ Continue Reading This Post …]

7 Deadly Teleseminar & Webinar Sins: Part 1

by Michael Cage

Right now I’m in the middle of re-doing my entire teleseminar & webinar training, start to finish. I’m tossing out the old and integrating what’s working now. I’ve made so many exciting breakthroughs in the past few years…

[ Continue Reading This Post …]

5 Ways To Get Better Results From Referral Marketing

by Michael Cage

Picture the following two scenarios …

Scenario A

Would-be-customer Bob is driving to work when he hears your advertisement come on the radio. The pleasant voice-over you hired tells Bob about you and your business, your extensive…

[ Continue Reading This Post …]

Leadership + Teleseminar Marketing = Profits

by Michael Cage

I was watching the NatGeo show, “Dog Whisperer” the other day and, like most things, it got me thinking about you and your teleseminars …

One of my favorite things to do is to look outside of the…

[ Continue Reading This Post …]

Stand Out: What Yellow Pages Marketing Can Teach You About How To Market Your Local Business

by Michael Cage

Today, I’m want to walk you through a 3-step exercise I do with my private consulting clients to find out if you’re making the 2 biggest mistakes most local businesses make that kills their ability to attract high…

[ Continue Reading This Post …]