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!
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.
I 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.
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.
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.
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”.