Is your business being marketed 24/7, 365 days of the year?
Sounds daunting I know, but if you seek to double, triple or quadruple your profits in your business you will need a Client Generation System that works relentlessly.
This podcast will outline what I am doing for my business and my clients businesses to substantially grow their market share.
The Giant, Growing Availability of Unicorns and Why Your Business Needs Them.
I have helped countless entrepreneurs transform their businesses into empires and make millions of dollars faster than they ever thought possible.
My recent work with entrepreneurs and marketers has been more impactful than anything I've ever done. I've been guiding, pushing, prodding and nagging them to reinvent themselves to specifically focus on marketing to the wealthy and the top-end-of-town.
To get very, very rich, you need to see where the most money is and then take your business there to get it.
Transforming your business to market to, appeal to, and attract the affluent, will transform your income, security, and business life.
The vast majority of marketers waste valuable resources trying to get money from people who have little of it to part with. They think that customers for whom price is irrelevant are as rare as unicorns. They never set out deliberately to attract and do business with them.
In truth, there is a giant, growing availability of such customers.
The explosive growth of the "well heeled" makes this specialised focus irresistible.
We are in the midst of a demographic revolution, with the baby boomer population peaking, their inheritances exploding, and the affluent population growing richer per capita, all converging to produce a new "spending class."
Opportunities to trade up, to upgrade your clientele, to rearrange your business, your products, services, and prices, to attract the big spending consumers have never been better.
Get to understand them.
Appreciate how abundant and plentiful and obtainable they are (possibly contrary to your own limited perception) and learn to target and attract them.
If you want to succeed in marketing you have to constantly keep your eyes and ears open and never stop learning.
In this episode I outline a recent lesson I learnt thanks to an outreach email I had received.
Here Is the Email
I know you're busy so I'll cut right to it.
I'm reaching out to high-quality sites that feature great ways to get better leads.
I came across your post: https://petergianoli.com/get-better-leads/ and was particularly interested in the free stock photo sites that you mentioned!
I'd like to pitch my website for inclusion in the post - Pikwizard
We have over 100,000 free images and videos on the site, with 20,000 of those exclusive to us. We are also adding new images and videos to our library daily and our ultimate goal is to get to more than 1 million images and videos.
We've got A LOT of pictures of people, which tend to be rare on free stock photo sites. If you check out our site and search for "office" or "meeting", you will see the quality of images on the website. All of which are free to use without attribution.
You can also take each image and edit it on our graphic design tool, Design Wizard!
I realize it's a pain for you to make changes, so I'd like to attempt to return the favour whatever way I can (Write the blurb? Share on social?)
If interested, you can check out the site here: www.pikwizard.com
Thanks very much,
Get Client Referrals on Purpose and Not By Accident
For people like me in marketing it is a very unwelcome fact: the higher up the financial food chain you go in search of clientele, the less likely you are to obtain a customer, client, or patient through advertising, direct mail, or other proactive outreach.
Oprah Winfrey does not look on Google for a chiropractor, nor will she be motivated by a late night TV ad. If she has back pain, she'll reach out to her network for a recommendation.
To woo affluent clients the best weaponry is by repeatedly offering "bragging rights experiences” to your customer and client base. The hospitality industry has been doing this for years.
Golf resorts have been dispatching massage therapists to deliver a quick rub to sore shoulders or achy backs between greens. Hilton's super upscale Conrad Hotel introduced the now popular "pillow menu" and individual concierges. Whilst St. Regis, introduced your personal butler.
You probably don't operate a hotel or a resort, but you can learn a lot from the most upscale of them. The best have committed clientele, unwilling to stay elsewhere unless absolutely unavoidable, and urging their peers and friends to follow their lead.
Most businesses settle for whatever word-of-mouth advertising or specific referrals they get by accident, but in marketing to the wealthy, it is more vital to get them and each referral is so valuable, that a strategic investment of time and money is warranted.
There are three main strategies:
creating experiences customers are motivated, preferably compelled, to tell others about - that is, being the basis for storytelling recognizing and rewarding those who refer tracking, measuring, and managing referrals Steps 2 and 3 aren’t very useful without step 1, which is pretty obvious. But by taking the time to understand the psychological and emotional drivers of your wealthy customers’ buying behaviour and enthusiasm for what they buy and whom they buy from to crafting the most appropriate sales language and choreographing your sales process – all combine the Total Experience as felt by the customer.
That total experience determines a customer’s willingness to refer when asked as well as the likelihood of them spontaneously recommending you to others of their own initiative.
An important thing to understand is that satisfaction is not sufficient.
For example, there are many businesses I buy things from and do business with which I am sufficiently satisfied to continue as a customer. my dry cleaners, the local car wash, and my Accountant. But I have zero motivation to tell others about these businesses, let alone passionately urge others to use them.
On the other hand, I have actively referred people to my dentist; my graphic designer Troy, my favourite restaurant, Brika.
Why do I champion these businesses but not the others?
Because they do more than satisfy. They meet a higher standard. The secret to referral stimulus is the difference between satisfaction and enthusiasm, produced either by merely expectations or by exceeding them.
Getting recommendations and referrals from your clients is about turning them into storytellers about their experiences with you. Nobody gathers a crowd around at a cocktail party to tell them, "My dry cleaner gets my clothes clean, folds them, and puts them on hangers." It's just not much of a story.
Here's why this is particularly important in working with affluent clientele: Surveys show that the affluent are 30% less likely than the general public to return or exchange unsatisfactory merchandise, seek out management to lodge complaints, or make their disappointments known. Their time is too valuable to spend on such activities. They simply go elsewhere. If the experience you are delivering is unsatisfactory or merely ordinary, you can't rely on your wealthy customers to do your work for you and alert you to your mediocrity. You have to determine it, based on poor referral statistics or other statistical m
Diamonds Are Forever - A Lesson in the Marketing of Values for Every Entrepreneur.
A cloth bag is not worth $4,000 without a Gucci logo, or some other designer's logo.
You may feel that it is not worth $4,000.00 with the logo either. But that reveals you remain hung up on what a product is, instead of what it symbolises and represents, what status it confers on its owner, what emotional reactions it evokes, how it feels to purchase and own it, how others important to its owner feel about it.
Few things are intrinsically worth their price.
Diamonds are, in essence, polished dirt.
We have all accepted that a diamond engagement ring should be priced at least equal to two months' salary.
Finding rocks is easy. Selling rocks, tough. In the last 50 years, only two markets have opened up for stones. You wear them on your fingers when in love; you put them over the head of a loved one after death.
Both excellent examples that evoke reactions and eliminate price resistance.
What De Beers did for diamonds, anyone can do for anything.
There are wines that sell for hundreds of dollars per bottle.
But there is BrewDog beer that sells for $765 US per bottle. How can beer be worth such a price?
You may answer: It can't. Or answer: Why not?
To make a giant income marketing to the affluent, you must erase your own deeply ingrained insistence at connecting price to worth and worth to function.
Marketing to values is more powerful than the marketing of products.
As a marketer, it's a choice between selling things, or selling aspirations.
Selling things often requires brute force, typically against resistance. Whilst selling aspirations and emotional fulfillments takes finesse, typically with little resistance.
Which is the more pleasurable and profitable?
The Power of Improvisation in the Business
An accomplished jazz musician has 3 key rules:
Find your own voice Never play the same way twice Know the basics inside and out Sound advice I know. In fact these three rules even make more sense in business and marketing.
This podcast outlines the concept of Improvisation in detail.
How to Market to the Self-Employed Affluent by Tapping into Their Psyche
Self-employment is one of the most reliable paths to first-generation wealth.
Research shows self-employed make up slightly more than 20% of the Australian population, yet account for about 70% of the wealth.
The personality of these affluent business owners and entrepreneurs is sharply drawn, so they can be marketed a wide variety of goods and services.
Won't Take No for an Answer
First and foremost, they view themselves as fiercely independent.
They exit, stage left, upon hearing "rules language" in marketing. The fastest way to repel this cohort is to tell them "no, you/we can't do that," and when asked why not, say, "policy."
There is a lot of value in being able to say yes to the wealthy.
If They Admire You, They'll Reward You with Their Business
The self-made wealthy are great admirers of the qualities that got them where they are.
Every one of them is doing business with somebody who reminds them of themselves when they were starting out. They reward ingenuity, drive, persistence, and sales acumen. They have a reverence for these virtues.
On the flip side, they detest sloth, weakness and wimpiness.
Generally Searching for Value as They Define It!
They know the value of money, and tend to pride themselves on being smart, getting good deals and bargains, negotiating successfully, even being seen as frugal.
While they all have one or two things they will spend wildly on, most abhor waste and have an emotional need to buy smart.
Most affluent entrepreneurs harbor a nagging fear of losing it all or having it all taken away from them and finishing up broke.
It's important to know that the price these people will pay for something has to do with how right and justified they feel about it. Not about intrinsic value or their ability to pay.