The KLT Principle

by Early To Rise (04/3/2007)

Issue #2006

  • WEALTHY: Want a trading system that’s perfect? (Rick Pendergraft)
  • HEALTHY: A fresh, healthful food that could be toxic (Jon Herring)
  • WISE: Oscar Hammerstein on friendship

ALSO IN THIS ISSUE:

  • Get your prospect’s interest in 10 seconds flat (Joshua Boswell)
  • 4 wines even snobs can’t shake a stick at (Michael Masterson)
  • It’s Fun to Know… about berries
  • Add "jolie laide" to your vocabulary

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The Search for the Perfect Trading System

By Rick Pendergraft

Many aspiring traders set off on a quest that turns out to be fruitless. They look for the perfect trading system - one that is right all the time and in all market environments.

Well, it doesn’t exist. And until you realize that, you will not be able to develop a system that works for you - a system that matches your investment objectives and risk-tolerance level and, more important, makes you money. After all, that is why you trade in the first place, right?

There are three basic factors that determine your success as a trader: the average amount of your winning trades, the average amount of your losing trades, and your winning percentage. If your average winning trade is larger than your average loss, your winning percentage doesn’t have to be all that high for you to make money. But if your average loss is bigger than your average win, you have to have a higher winning percentage.

Understand that I am talking about trading here - short-term to intermediate-term transactions. Long-term investing has different trade drivers, though the three factors that determine your success remain the same: your average win, average loss, and winning percentage.

There are many ways to make money with trading. Unfortunately, there may be more ways to lose money. Just make sure you realize that no matter which trading system you choose to use, it’s not going to be perfect - and it doesn’t have to be in order to work for you.

[Ed. Note: Find out how Rick Pendergraft can help you make money - no matter what the market's doing - as the editor of ETR's new investment service, the ETF Options Trader.]

"Getting to know you, getting to know all about you./ Getting to like you, getting to hope you like me."

Oscar Hammerstein

The KLT Principle

By Joshua Boswell

The KLT principle is an incredibly powerful tool. When you understand it and use it in your marketing copy, buyers simply melt in your hands. When you don’t, it’s nothin’ but slammed doors, unyielding sales resistance, and the trashcan for your sales efforts.

KLT stands for Know, Like, Trust - meaning that people have to know, like, and trust you, your company, and/or your products before they will buy.

Therein lies our challenge as sales and marketing professionals: Given a 30-second commercial, a 95-character Google ad, a 300-word press release, a short- or long-copy direct-mail letter (and a 10-second consumer attention span)… how do we get people who have never met us to know, like, and trust us?

The task is daunting… but not impossible.

Everyone has an internal defense mechanism that attempts to alert them to danger and prevent them from being "had" or "ripped off." That mechanism is the "KLT Protective Sentinel" - and it stands between you and your buyer.

How do you get past the KLT Sentinel? Better yet, how can you get it on your side, actually working to encourage the consumer to buy from you?

The key lies in understanding what makes a person know, like, and trust someone else. Simply stated, people know, like, and trust THEMSELVES. So, the more you are similar to THEM, the more they will know, like, and trust YOU.

Michael Masterson addresses this concept (although he doesn’t call it the KLT principle) in detail in Section 10 of AWAI’s Accelerated Program for Six-Figure Copywriting and then again, in even greater detail, in Sections 1 and 2 of The Masters Program.

According to Michael, it’s a two-step process:

1. Learn everything you can about your typical customer.

And when Michael says "everything," he means EVERYTHING.

What magazines does he read? What are his hobbies? What products does he buy? Where does he shop? Where does he have his investment funds? Is he married? Does he have children? How old are they? Does he own or rent? What keeps him up at night and fires him up in the morning? What industry does he work in? What jargon does he use? Etc., etc., etc. You need to know. (By the way… deep research is what it takes to answer these questions)

2. Develop a 3-D image of your customer.

Michael says, "Great [direct-mail] copy, ultimately, is an exploration, stimulation, or provocation of the prospect’s greatest and deepest desires, fears, hopes, and dreams." (And this is true of all types of sales and marketing efforts, not just direct mail.) So once you have all the facts, step back, take a seat in a comfortable chair, close your eyes, and begin to picture your customer in your mind. See him sitting in the chair across from you. Look into his eyes and really discover who he is.

By taking these first two steps, you are now in a position to totally and completely relate to your prospect. You know what he knows and likes. You have the power to "speak" to him in a way that he will understand. You can talk about things you have in common and show him that he is more like you than he ever suspected. And you intuitively understand how to subtly, sincerely win his trust and confidence.

Here’s a classic example from Popular Mechanics of how this can be done. The writer of this sales letter knew exactly who he was talking to. And… by choosing the right words… he was able to develop a bond with his prospect from the very first sentence.

"Dear Friend,

"This invitation isn’t for deadbeats, rip-off artists, or ‘gentlemen’ who hate to get their hands dirty.

"It’s for the rest of us.

"It’s for the average guy who works hard for a living (and wants to live better). Who knows the value of a buck (about 50c these days). Who is willing to trade a few drops of sweat for the chance to save big bucks."

Here’s another good example, this one from a promotion for the Oxford Club:

"Dear Fellow Investor:

"You have been chosen from a select list to receive an invitation into what must be the world’s most remarkable - and profitable - financial alliance.

"It’s an alliance that includes many wealthy investors, financial experts, and extremely successful entrepreneurs …

"By focusing our efforts on creating a legacy of PRIVATE WEALTH for ourselves and our families, we have established a long history of finding extremely safe investments with far higher yields than you are probably getting now."

Both of these letters effectively make a personal connection with their readers - but they do it very differently because they are addressing two very different audiences.

The Popular Mechanics letter immediately tells its reader that it is not for "deadbeats, rip-off artists, or ‘gentlemen.’" It uses one- and two-syllable words, straightforward language, and vernacular like "guy" and "buck" to put the prospect at ease.

The Oxford Club letter starts by inviting the reader into an exclusive "inner circle" of "wealthy investors, financial experts, and extremely successful entrepreneurs." The opening paragraphs focus on the high yields and safety the Oxford Club promises - benefits that would clearly appeal to the kind of person it is likely to attract. And the writing is comprised mainly of three- and four-syllable words, long sentences, and sophisticated phrasing.

Even the salutations are different. The Popular Mechanics letter establishes a "friendship" with the prospect, while the Oxford Club letter confirms that the prospect is a serious investor.

Despite their differences, both letters show that the people who wrote them knew their prospects… their prospects’ fears, desires, and dislikes… the way their prospects think of themselves… and the way their prospects speak. And that’s what helped them establish that all-important trust with their potential customers.

Once you have your prospect’s full friendship and trust, the KLT Protective Sentinel not only breaks down his sales resistance, it actually begins encouraging him to take your advice. And it will continue to work on your behalf as long as you maintain that solid relationship.

KLT. It’s a simple formula. Use it, and your sales will soar… and you’ll be flush with repeat business.

[Ed. Note: Joshua Boswell was first introduced to copywriting in April 2005 by AWAI's Accelerated Program for Six-Figure Copywriting. He is now well into his second year as a $100,000+ freelance copywriter with clients such as Corel, Sony, Toshiba, Microsoft, Easter Seals, and many others.

The complete Popular Mechanics and Oxford Club letters that Joshua quoted from can be found in AWAI's book, "Great Selling Ideas for 50 Super-Successful Direct Mail Letters and Direct Response Ads."]

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And with the evolution of ETFs it is easier than you might think for YOU to do the same thing. Click here to learn how you can regularly see returns of 30%… 50%… 100%… allowing you to multiply your wealth, while actually reducing your overall risk in the market.

A Sure Way to Avoid Polluted Fish

By Jon Herring 

Because it is such a rich source of protein and healthy fats, fish should be one of the most beneficial foods you can eat. Unfortunately, a large percentage of fish these days is contaminated, most notably by mercury.

Mercury is a potent neurotoxin that accumulates in the body. Once you consume it, it is difficult to get rid of it. Mercury is especially damaging to young children. Exposure can not only threaten their health but also reduce their intelligence. To make matters worse, a recent report compiled by leading academic experts on mercury pollution suggests that instead of improving, the situation is getting worse.

But there is one fish that you can eat without concern - wild Alaskan salmon.

Most fresh salmon is farmed, not wild. So unless you visit a health food store, you may have a difficult time finding it. Fortunately, canned wild Alaskan salmon is widely available in just about any grocery store. It tastes great and is inexpensive. Just be sure to look for "wild Alaskan" on the can. Farmed salmon is not only deficient in omega-3s, it can contain dangerous amounts of PCBs.

For a list of different varieties of fish and their mercury content, check out the National Resources Defense Council website.

Living Rich: Starting Your Wine Collection, Part 3 - Pink Wines (Roses)

By Michael Masterson

Here’s your chance to be a reverse snob. Americans think rose wines went out with Mateus - and there is a good reason for that. Neither white nor red, many roses have a reputation for being unremarkable.

Roses are actually made from red grapes, so they have a little bit of the color. But the skins are not left in the batch long enough to provide the tannins that give red wine character. Despite the inherent mediocrity of the type, some roses are very good. They are drunk frequently and without embarrassment in Europe as ordinary table wines. And by drinking a bottle now and then, you can show your American friends that you are European in spirit.

The better roses, it is said, are made from Cabernet Sauvignon grapes (in California) and Cabernet Franc grapes (in France). Don’t age them. Serve them cool. Drink with ordinary food.

Quantity: One to 10 bottles should be enough to prove to the world that you are not above this perfectly acceptable table wine.

Here are a few specific roses to consider. All of these recommendations have a Wine Spectator ranking of 83 or above. (Price estimates come from local and online stores and Wine Spectator.)

  • Shingleback Grenache McLaren Vale Rose 2005 ($17)
  • Jaboulet Cotes Du Rhone Parallele 45 Rose 2005 ($11)
  • Red Bicyclette Rose 2005 ($11)
  • El Coto De Rioja Rosado 2004 ($10)

[Ed. Note: For more about starting your own wine collection, read Michael's article "A Start Up Collection for New Wine Collectors."

And learn how you can be part of an exclusive group of 25 to 50 ambitious businesspeople that Michael will be leading through an elite 5-day program that can help you dramatically increase the profitability of your business here.]

It’s Fun to Know: About Berries

You might be surprised to know that strawberries aren’t actually berries (in the botanical sense). Instead, they’re "accessory fruits." The red meat of the strawberry is merely a receptacle for the hundreds of tiny seeds on its surface. Those seeds are the actual fruits of the plant.

Blackberries, raspberries, and boysenberries are "aggregate fruits," which means they’re made up of multiple fruits, each holding a seed.

True berries - like blueberries and cranberries - are fruits composed of a single, edible ovary wall. They are pulpy and full of seeds. Other botanical berries include tomatoes, kumquats, avocados, eggplants, and chili peppers.

(Source: Wikipedia)

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Word to the Wise: Jolie Laide

"Jolie laide" (zhoh-lee LED) - French for "beautiful-ugly" - describes an off-key or unconventional attractiveness.

Example (as used by Lynn Yaeger in an article about handbags in The Atlantic): "Sometimes a jolie laide bag will take off while a lovely purse languishes."

[Ed. Note: Become a more persuasive writer and speaker ... build your self-confidence and intellect ... increase your attractiveness to others ... just by spending 10 VERY enjoyable minutes a day with ETR's new Words to the Wise CD Library.]

Michael Masterson
Copyright ETR, LLC, 2007

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