Using Other People’s Resources to Get Your Own Customers

If you want to build a “Chinese learning customers database”, you can find a number of Chinese training agencies locally, asking them: “Do you have free preview lectures? If I introduce a student for you,how much commission you can offer? “

When you collect five agencies; packaged up their “free seminar” to “free Chinese learning gift package” and advertise in the local newspaper classified ads version:

Offer “five Chinese learning classrooms” for FREE, only 100 quotas, hotline ******

Soon some people will take the initiative to contact you – these people will go into your customer database.

If these people have signed up to a training course, then you can earn some money!

If no people sign up, you do not have to worry about it either: because with the database, you can continue to communicate, nurturing a sense of credibility, sooner or later, they will hand money to you!

This method is the idea of “fish with someone else’ bait”, which we I have introduced previously.

Actually the “fish with someone else’s bait” idea is very valuable. With the increasingly fierce competition, many industries have launched “experience product in low price” for their target customers, the price of these commodities are significantly lower than average price – or even free; but generally only effective for new customers.

As long as you combine multiple businesses’ “experience product in low price”, it will become a very attractive “big gift package” – As the saying goes: many potatoes are also a treasure.

Get in touch with these businesses, you will find: around you there are actually so much “free bait” to borrow.

Use others “bait” to build your own “fish ponds” –- how great it is in your life!

How to Withdraw Cash from Your “Fishpond”?

Mail promotions of the salon owner

Alan Smith is a salon owner in a small British town. His business is deeply impacted by seasonal variations: in the peak season, there are a lot of new customers, while business is often unsatisfactory during the off-season.

In 2002, Smith decided to take a new means of marketing.

He established a customer database, recording customer’s name, consuming habits, Contact information. He could collect up to 160 customers every week. One-third of them were new customers.

After analysis, he found he had lost totally 500 customers. So, Smith decided to proceed with the action of mail promotions.

Smith conducted three classes’ mail promotions in total.

Type 1 promotional letter is a “restoring letter for the lost customers”. Smith checked the statistics about the total number of lost customers once a year. Then, he sent a letter to the lost customers, saying: “Because you are our old customer, we can provide you with a free haircut service.”

In this way, all of a sudden he got a 60% response rate, that is, he saved 60% lost customers.

Type 2 promotional letter is “regular reminding letter“. Mr. Smith sent it every week. Notify the customer the time to get haircut; the response rate is also very high, nearly 70% of the customers are willing to come back, the cost is so low that it can even be negligible.

Type 3 promotional letter is “a referral letter”. A “referral coupon” will be offered to each customer, who can recommend it to a friend. The Customer and the recommended friend can enjoy a 50% discount next time. Otherwise, new customers will not get this discount.

In addition, he also sells a hair dye product; the majority of customers will buy it and other products. Later, he even became one of the top 10 sellers for the hair dye products.

How is Alan Smith making money from the “fishponds”?

He designed different promotional strategies for “the lost customers”, “regular customers” and “potential customers”.

Firstly, for the lost customers, “the promotional tool” is “price leverage”- free haircuts service.

Although it is free of charge, but, as long as you enter the salon, barbers will always find a way to get your money “- This is similar to the “free scaling of the Dentist”.

Secondly, he sent “regular reminding letter” to the “normal customers”. This is little risk, not have to use the “price leverage “or” gifts incentive “- because this is the daily thing. If the promotion strategy is used daily, it will affect the revenue of the salon.

You must pay attention that you cannot make the promotion strategy from haphazard to daily, or it will lose its appeal.

Thirdly, he use the “referral coupons” for potential customers— also the price leverage, which is a 50% discount.

Learn from the practices of Alan Smith, we can use it creatively, withdraw Cash from your own “fishponds” by promotion.

The Change Periods of Customers’ Desire

The Change Periods of Customers’ DesireI suggest you read the above table several times, analyze it according to you own experience. You can find there are a lot of “inefficient”, or even “wrong” sales practices around us.

We always encounter below common situation…

A customer walks straight up to a product and asks the seller: “How much is it?”

Seller simply replied: “$60.”

So, the customer simply replies: “Too expensive!”.And then he walks away shaking his head.

I often think this kind of sellers a little “funny”.

A customer asks “How much?” his real intention is not want to know the exact price of this goods, he is just reminding the seller: “Please give me more information, I want to know its value.”[emember_protected for=2-3-4]

To say it bluntly, customers are reminding sellers: “I’m interested in it; I want to get into the ‘credibility incubation period, please cooperate with me!”

What is the result? The sellers simply do not understand the subtext of customers, so they directly use the answer in “the desire period” to deal with customers in “the understanding period”.

So, no matter what price the seller quotes, customers will always say “too expensive!” (Unless the price quoted is really cheap, much lower than the psychological bottom line of the customers – but this situation is rare.)

So, how to do it in such case?

The basic answer is: “why you want to buy it?”

The purpose of this statement is: to carry out dialogue and guide customers into the credibility incubation period.

If you sell clothing, you can ask: “what size do you want?”

If you sell mobile phones, you can ask: “what features you want it with?

In short, whatever question is ok, just not directly reply “price”.[/emember_protected]

When a customer can not show his own demands, do not understand the value of the product, whatever price you offer, it will immediately become the reason he “refuse buy”. Because what he resists is not the price, but you promotional behavior “. Got it? The customer cannot go against their “psychological cycle” So, when you “go against” the psychological cycle, he will confront you!

From the above analysis, you should understand: credibility incubation period is the longest, slowest growth stage, and it is the most difficult stage to overcome.

So as long as you make a breakthrough in this stage, the follow-up “promotion” will be like the ripened fruit.

Choose Right Bait for Your Potential Customers

Choosing the right bait is a kind of “wisdom”. Good bait, not only can be embedded in the communicative behavior among people, but also paves the way for subsequent sales.

Dentist’s USB flash drives

A dentist in the United States will always present two USB flash drives (portable storage devices) to customers after service.

And he tells customers: “there are a lot of electronic data on dental care in the USB flash drives; you can check it out at leisure after taking it back. Of course, you can keep one for yourself and another for your friend…

So, many customers gave the extra one to their friends. There is a lot of information about dental care in the USB flash drives; it especially emphasizes “Everyone should get regular teeth cleaning in professional organizations. There is a line in small print on the flash drives says: “You can enjoy free scaling with this flash drive”…

Thus, many customers’ friends go to the dentist clinic spontaneously…

As I have said, good bait should bear three tasks:

  • Easy to transmit.
  • Easy to be accepted by customers.
  • Easily leads to follow-up consumption.

Choose Right Bait for Your Potential Customers

The dentist’s USB flash drives undoubtedly meet these three conditions:[emember_protected for=2-3-4]

(1) Easy to spread: USB flash drives are in small size, easy to carry, can be plugged into a computer to use. So, the customers can easily present it to their friends.

(2) Accept it conveniently: USB flash drive, a commonly used computer external device, has a certain value in use. People can store or backup electronic documents and data. No matter that person has dental disease or not, he or she is willing to accept such a gift.

On the contrary, if a friend has dentist promotional materials with him, you do not have dental problems currently; will you be interested in it?

(3) Follow-up consumption: there is a lot of dental care knowledge in the USB flash drives; they are also receiving a public education while browsing this knowledge. So, many people will realize the importance of the “scaling”. Thus, they go to the dentist.

“Free scaling” is really “free”? If you have received this service, you will understand the fact that you still have to pay the basic cost of supplies.

More importantly, 90%people have certain kind of dental problems. While washing teeth for you, the dentist will help you find the “problems”, so as to mobilize quickly treatment “- that is,” you will pay more money.”[/emember_protected]

Do you understand the wisdom of the dentist?

A small USB flash drive serves a variety of tasks:”referral”, “customer education”, “drawing fishes to bite hook” (i.e. “free scaling”), and So, select the right “bait” is a very important task.

 

The Interpersonal Embedded Technology of Flower Shop

The Interpersonal Embedded Technology of Flower Shop

“Warmth pass” of the flower shop

Mike gave her friend the idea of “vouchers” promotion, after that, they want to redouble their efforts to raise up the flower business. So I gave her the following recommendations:

Told your customers: we are ongoing the “Warmth pass” activity, as long as your consumption in our shop over $50 every time, we will gift you a “warmth opportunities”.

That is, you can specify a friend in the city and leave your friend’s contact information; he or she will get a FREE bouquet of flowers with your message attached.

The flowers represent love and blessing, a token of appreciation on behalf of you. So, sending flowers to someone is to pass your “warm friendship”……

In simple terms, the interpersonal embedded program for the flower shop is:

(1) bait: FREE flowers.

(2) Embedding behavior: interpersonal behavior of sending flowers to express feelings.

For the florist “warmth pass”, customers need to consume more than $50. As you probably know, the gross profit of “flowers” is higher.

So, the gross profit margin for “$50 consumption” should be more than $20. It means, the “gift flowers used to pass warmth” is actually a “like tree, like fruit” – customers have assumed the associated costs already.

Flower shop only afford to “make a little less money”, and make this little profit “as” the cost of developing new customers. No risk at all.

Therefore, when design the “interpersonal embedded” program, you have to pay attention to the cost problem, and then choose the right “bait”.

Rapidly Get Access to Potential Customers by Interpersonal Embedded Technology

Rapidly Get Access to Potential Customers by Interpersonal Embedded TechnologyThe effective referral thinking: help customers to strengthen their relationships by the value of the goods.

Master this “interpersonal embedded technology”, the success rate of your referral will immediately double.

That means your customer database will quickly double.

In other words: Your wealth will quickly double.

“Interpersonal embedded technology” design template:

(1) Analyze the common communicative behavior of the target customers.

(2) Design the right “bait” for embedding communicative acts

(3) Promote the “bait-embedding” communicative behavior.

There are many communicative acts between people.

(1) Entity as a carrier, such as presenting gifts, borrowing something.

(2) Information as the carriers, such as writing letters, making phone calls, chatting on line, sending text messages.

(3) Activity as a carrier, such as trips, parties, playing chess.

As long as using your head, you will find a wide range of communicative behaviors, which can be used to “embed baits”.

For example, every Christmas, people often send greeting cards. There are lots of websites offering “free to mail greeting cards”. These beautifully animated greeting cards are really eye-catching.

As long as you fill in the e-mail address and plus some blessings, the website will directly send the greeting cards to your friends or relatives.

This kind of “e-cards” has become a customary practice. Almost every Internet user has sent or received such greeting cards.

Then, why the “e-card” websites provide this free service?

Analyze from the perspective of “interpersonal embedding”, you could see it clearly.

(1) Bait: free cards with the URL of the site.

(2) Embedding behavior: people send greeting cards to each other when festival comes.

Therefore, because of using the behavior “embedding the URL into sending greeting cards, these sites can increase traffic and expand the influence.

Of course, “interpersonal embedded” technology has a vast space to play either through the Internet or not. Let’s look at the case of “flower shop making use of other businesses’ fishponds”.

You think about it whether the “flower shop” can enlarge the number of customers by “interpersonal embedded” technology?

Why Your Customers not Recommend You to Their Friends?

Why Your Customers not Recommend You to Their Friends

Someone asked me: “I was very surprised, I promised to customers: if they introduce a friend to buy my product, I will give them a 20% discount. However, why they are rarely willing to do that?”

Rule out the quality, price and other aspects of the problem, I asked him: “Have you ever enthusiastically recommend some kind of product to your family members or friends only because you can get some discount?”

He shook his head: “I don’t think so, because the discount is a small matter; but friend matters a lot. If by any chance my friends think I am trying to make their money, it is really “penny wise,pound foolish”……

“That’s it!”I awoke him: “When merchants confront with friends, 99% of people will choose friends instead of merchants. This way of ‘bribe’ referral is inefficient without any doubt…… ”

This is why people are in contravention of referrals “.

The practice “bribe” itself is not wrong. However, when this kind of “incentive” misleads customers into feeling “it will destroy human relationships”, they would not put into action.

After all, everyone is a social animal; human relationship is an important pillar of maintaining interpersonal harmony. Who would be willing to sacrifice years of cultivated friendships in order to get small “immediate” benefit?

“Make customers tell customers,” this idea itself is not wrong. The reason why the “referral” is powerful is just because it is easier to pass the “trust” by taking advantage of the “human relationship”.

However, if merchants’ practice is tend to “encourage customers to destroy this human tie”, it is entirely different, and you just get the opposite result.

So, you should not “take advantage of” human ties through “incentives”; this kind of thinking is most likely to let customers get fears of “destruction”.

On the contrary, if you change the thinking: not take advantage of “human tiles” but “strengthen” it. Then you’ll see that the customers will change from “worry” to “enthusiasm”.

Therefore, “referral” is essentially making use of the interpersonal circle, but in form, it should show strengthening interpersonal circle – this will really lift the customers’ psychological barrier, which becomes from negative to positive & from lukewarm to enthusiasm. And then they become your “free salesmen”.

This is actually a value proposition “from the customer point of view”.

Change the concept, you will find: customers are willing to introduce good product information to their friends and family members. As long as you transfer your “commodity” to “the human communicative behavior of your customers”, it is like a borrowed boat, easily enlarges your fish pond geometrically…

I name this “referral” technology: “Interpersonal Embedded Technology

You Could Find “Target Fishponds” Everywhere

You Could Find “Target Fishponds” Everywhere

In order to help you fundamentally understand “The Fishponds Wealth Theory”, I classify “fishponds” into two groups:

(1) Your own fishponds: your own customer database, where there are potential customers’ contact information.

(2) Target fishponds: other person’s fishponds, where we can put our bait into “the target fishponds”, so you can make someone else’s “Fishes” into your fishponds.

I am worried that you form a “preconceived ideas” from the previous cases: you may think people who have “target fishponds” must be other merchants, so in order to quickly enlarge your own fishponds, you should cooperate with them. ”

This understanding is very one-sided and also very dangerous – because it makes you ignore the 90% opportunities to put “bait”!

In order to upgrade your brain, let us re-learn the “target fishponds” …

Philosophy of throwing away business cards

A business expert consultant asked me: “How to get in touch with more entrepreneurs and make them become my clients accepting my consulting services?”

I asked him: “Do you have business cards?”

“Yes” he replied.

“Throw away all of them …” he looked puzzled, I continued: “take notes all your successful consulting cases and related skills and then record them into a book, name it “the mysteries for profit maximization” and then present one as business card when you meet each customer. Do not forget to add a sentence on the title page: “If you want to get free consulting services, please contact…”

Dear readers, do you understand the truth of the “throw-away-business-cards”? The voice behind the recommendation that I gave the consultant is:

Take every opportunity of contacting with potential customers to spread the bait with hook!

Every day we have opportunities of contacting with lots of potential customers, regardless of the opportunities appearing in “other people’s Store”, or somewhere around you” You can actually take the opportunity to spread your baits.

So, each time and place you contacting with potential customers, it is your opportunity:

The nature of “target fish ponds”:

Trust comes from communication, communication needs Contact information, contact information are collected from the time and place you contacting with the customers, so every “point” you contact with potential customers ,it is your “target fishpond”.

With the “potential customers” as the core, the target fishponds are orientated from the perspective of potential customers. Any place where there are potential customers, especially a large number of potential customers, can be treated as the “target fishponds”.

So, “someone else’s shops” are just the “target fishponds” where we can “spread the baits,”

It can be referred as the “the point of contact is the fishpond” – This is the nature of the “target fishponds”.