A Free Goldmine of New Customers
Archives: Daily Issues
Issue #2636
- WEALTHY: How to get people talking (Paul Lawrence)
- HEALTHY: 3 tests you must take to ensure your future health (Jon Benson)
- WISE: Andy Sernovitz on word-of-mouth marketing
ALSO IN THIS ISSUE:
- Whose timeline is most important? (Anna Bonjour)
- If your New Year’s resolutions have gotten derailed… (Bob Cox)
- It’s Fun to Know… about the Braille silver dollar
- Add “pinchbeck” to your vocabulary
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“In many cases, word-of-mouth marketing isn’t actually about marketing at all. It’s about great customer service that makes people want to tell their friends about you. It’s about fantastic products that people can’t resist showing to everyone.”
Andy Sernovitz
A Free Goldmine of New Customers
“Hi,” the woman on the phone said. “I was referred by my sister-in-law.”
When I was working as a full-time ballroom dance instructor, those were some of the sweetest words I could hear when I answered the telephone.
Every business owner is happy to get referral business, because it has two huge advantages:
1. It costs nothing or next to nothing to obtain.
2. The prospect is pre-sold on your product or service – which means you don’t have to do a lot of work to convince her that you’ve got the best solution to her problem.
When I began my ballroom dancing business, I had almost no capital. I had enough money in my “marketing budget” for only one tiny classified ad a week. So I had to conjure up creative ways to get new customers. One of the best ways I found was referrals.
When prospects who found me through one of my ads called to inquire about lessons, they usually had lots of questions. They wanted to know about my training, how long I’d been in business, where my business was located. Sometimes they asked me for references. And they wanted all this before I even had a chance to convince them that my price was reasonable.
But prospects who had been referred to me by one of my clients usually had no questions. They had already been told that, as a ballroom dance teacher, I pretty much “walked on water.” So they had no concerns about my ability. Plus, they already knew what I charged, so there was no surprise there.
You don’t have to just sit there and wait for referrals to come your way. There are several effective techniques you can use to generate tons of them.
Step 1: Establish a program that strongly encourages – and rewards – referrals.
Most satisfied customers will gladly give a referral without expecting to be compensated. Because you’ve helped them, it gives them pleasure to help you. That psychological boost, in itself, is a reward.
But it doesn’t hurt to offer something more tangible.
In the ballroom dance instruction business, for example, many studios do both. They hold dance parties and encourage their students to bring guests. (The idea, of course, is that the guests will have so much fun they’ll want to sign up for lessons.) Students who bring guests are rewarded with discounts or free lessons. Plus, during the party, the head of the studio publicly thanks them, noting that without referrals the studio couldn’t exist.
Step 2: Put reminders everywhere.
If you give receipts, make sure there is a reminder about your referral program printed on it. If you have a newsletter, make sure the referral program is prominently mentioned somewhere in every issue.
Step 3: Don’t be afraid to come right out and ask for referrals.
I used to print up business cards that offered a free lesson to anyone referred by a client. I would just hand a few cards to my clients and say something like, “Here are a few referral cards. Each person you give one to will get a free lesson. Plus, you’ll get a $10 discount on one of your own lessons.”
There was no pressure. If they didn’t want to do it, they didn’t feel that they had to. But if they were already inclined to give a referral, this gave them a strong push.
You can be more aggressive too. During my brief stint as an in-home china salesperson, for example, I would give people a piece of paper and a pen and ask them to write down the names and phone numbers of at least three other people who might be interested in what I was selling. Virtually everyone wrote down some names.
Whether you take a subtle or aggressive approach, implementing a strong referral program is a must for every small-businessperson – no matter how big your marketing budget it.
[Ed. Note: Paul Lawrence is a successful entrepreneur and business author who has started over 12 profitable enterprises with less than $100. Get more information on his Cheapskate Marketing program right here.
Referral marketing is one good way to get the word out about your business. But to be sure to reach your prospective customer when and where she's looking for you, you need to "channelize" your efforts. Discover 12 proven, effective marketing strategies in the Amazon.com bestseller Changing the Channel: 12 Easy Ways to Make Millions for Your Business]
== Highly Recommended ==
A Recession Days Underdog That Can Churn Out Steady Cash
Where oh where can you make money these days?
Don’t look at the stock market. The Dow’s all over the map. May be up one day – but is that real or the dreaded “sucker rally”?
Don’t look at your boss. According to a survey by Watson Wyatt Worldwide, 42 percent of employers have instituted a salary freeze – and 14% of those who haven’t, plan to do so.
Don’t look at the government. They have other worries.
BusinessWeek suggests you look at an old standby: the e-mail newsletter.
It’s not fancy or high-tech. But it can bring in serious ad revenues – even today. Better yet, it can help attract investors looking for safer places than the stock market to stow their money.
Look at DailyCandy.com, which sold to ComCast for $125 million just last fall. Then there’s Thrillist, which is making profits on $5 to $10 million a year.
And ETR itself shot up from a little “amateur start-up” to a $25 million company in the past few years!
Start your own Internet business, set up an e-mail newsletter, and you could make $50,000 to $5 million starting this year.
Get the exact blueprint for doing so right now.
Why Your Customers Require a Sense of Urgency
By Anna Bonjour
Registration was to begin in a mere hour. The first session of the conference in two hours. The hotel’s ballroom was being set up with a full line of audiovisual equipment, because this wasn’t just any conference. It was being videotaped by a professional production company, and the video would later be developed into a product.
But where was the hotel staff? Why weren’t they in the ballroom too, installing the risers for the stage? Without the stage in place, the production company wouldn’t be able to finish setting up their equipment. And without the equipment in place, the tables and chairs couldn’t be set up, because they’d be in the way.
In a frantic search for hotel staff, I found the banquet manager, casually arranging the tables for our reception… which was still four hours away. I told him how important it was to get the stage set up immediately so we would be ready for the 5:00 p.m. start to the conference. He didn’t seem concerned. And he assured me that it would be taken care of. (Apparently, in his own good time.)
I looked around for the rest of the banquet staff, and the only one I saw was standing in a corner, sending text messages. My heart sunk. At this rate, they couldn’t possibly be finished in time. Didn’t they feel a sense of urgency to get their job done?
No. They didn’t. And this made me, their customer, feel anxious. It also set the tone for the entire event. By the end of the conference, I knew I’d never again do business with that hotel. They had lost a good customer.
Having a sense of urgency doesn’t mean being an alarmist. It simply means demonstrating that you understand your customer’s need for prompt service.
Here’s how to do it:
• Make yourself readily available to your customers, whether personally or through a conscientious customer service department.
• Stop what you’re doing and listen to your customer’s concerns. Being able to express their thoughts to an interested party is often more important to them than the actual resolution of their problems.
• If what your customer is requesting is time-sensitive for them, make it your priority to resolve their issues so they can meet their deadlines.
• Don’t walk away or hang up until the customer has assured you that the steps you plan to take will allow them to accomplish their goals.
• Do what you say you will do in the time you say you will do it.
A sense of urgency is an integral part of customer service. Without it, your customers may perceive you as being complacent, and you’ll lose them forever.
[Ed. Note: Anna Bonjour, ETR's Director of Events, is a certified meeting planner with over 20 years of professional experience.
Providing top-notch customer service is just one aspect of running a successful Internet business. ETR's Internet Money Club Independent Learner Edition takes all the guesswork out of getting your business up and running. It doesn't just focus on one aspect of business-building - it gives you the whole shebang. Get the details here]
3 Steps to Getting Your Goals Back On Track
By Bob Cox
It’s April, and it’s quite possible that your New Year’s resolutions already have fallen by the wayside. Sticking to goals you’ve set can be tough. In fact, only about 12 percent of people who set resolutions end up following through, according to a yearlong study by Professor Richard Wiseman.
But even if your resolutions have been derailed, there’s still hope! Here are three steps for turning a “failed” goal around right now:
1. Write down exactly how you drifted from your goal.
Let’s say one of your goals was to lose 15 pounds this year. To achieve this goal, you committed to go to the gym three times a week. But you never seem to have enough time, and usually make it only once a week.
2. List solutions – five actions you can take that will move you forward in accomplishing the goal.
In our hypothetical case, that could be:
• Getting up an hour earlier during the week.
• Working out on the weekends.
• Preparing meals ahead of time so you can spend the extra time in the gym.
• Using most of your lunch break to work out.
• Heading to the gym instead of watching a favorite TV show.
3. Take it one day at a time.
Don’t overwhelm yourself with too many “big picture” thoughts. Remember, achieving any goal is a journey of many steps. You won’t get there overnight. Stay energized and focus on one day at a time.
[Ed. Note: Bob Cox is a success mentor and creator of The Billionaire in You wealth-attraction program Whether your goal is to lose 15 pounds or start a lucrative side business to fund an early retirement, you can find dozens of powerful strategies to supercharge your goal achieving efforts in ETR's Total Success Achievement program. Get the details now.]
Find Out If You Are At Risk
By Jon Benson
Want to know what your real odds are of having a heart attack? How about a stroke? Diabetes?
I think most “doctors’ tests” are worthless. But some are vital.
It’s important to know the difference.
I’m going to give you the three tests you absolutely must take if you want to help ensure your future health.
Statistically, the first test is far more accurate than any blood test. And get this: You can do it at home for free.
Test number one: Simply measure your waistline. Use a tape measure and do not pull it tight. Measure right below the navel.
Write down that number in inches.
Then measure your height (without shoes) in inches. Write that down too.
Multiply the results of your waist measurement by 2. If this number is greater than your height, you are FOUR TIMES more likely to get heart disease.
Four times. That’s more predictive than cholesterol tests by far. And a lot less expensive to boot.
Test number two: Know your SED rate. This is an inflammatory marker in the blood.
Test number three: Know your hsCRP and LP(a) levels. Both of these usually can be done with one test. Both are inflammatory markers, as well as key indicators of heart health.
It’s virtually impossible to have a normal SED rate, a normal hsCRP level, and
a normal LP(a) level and be at imminent risk for a heart attack, a stroke, or diabetes.
Go to your doctor and ask for these three blood tests. They are all crucial.
[Ed. Note: If you want to build muscle, burn body fat, and improve your overall health, pick up nutrition and fitness counselor Jon Benson's book, 7 Minute Muscle. It's a complete system for dropping fat and building muscle that's guaranteed to work for you. Try it for 60 days and prove it to yourself.]
For easy-to-follow exercises you can do at home and delicious, healthy recipes – plus dozens of strategies for getting fit and living longer – sign up for ETR’s natural health newsletter.]
It’s Fun to Know: The Braille Silver Dollar
The first-ever coin to feature readable Braille is now on sale from the U.S. Mint. The silver (90 percent) dollar features a portrait of Louis Braille, the inventor of the system used by blind people worldwide, on one side with the image of a young boy reading a book in Braille on the flip. Above the boy are the Braille characters for “Braille.”
(Source: CNN)
== Highly Recommended ==
Wall Street to Baby Boomers: “Drop Dead!”
So, turns out the brokers and bankers have been robbing us blind behind our backs for years. But now it’s time to extract sweet revenge on the fat-cat scoundrels with your own profitable (and ethical) “Off-Wall Street” retirement recovery plan.
But first, the crooks need to stand trial for their sins…
Assault Upon the American Dream.
Verdict: Guilty on all counts.
Our Revenge: Our best revenge is going to be living well!
That’s right… The best revenge we could get out of this mess will be to end up living the good life… sort of the way these robbers did for so many years.
Except instead of stealing our way back to prosperity with lies and deception… we’re going to earn it back fair and square. And that’s what I want to help you do today.
If you are rethinking your investments… and who isn’t… now there’s a better way. Come join over 1,000 of your fellow Early to Risers in a new society we’ve dubbed “The Liberty Street League.”
Word to the Wise: Pinchbeck
“Pinchbeck” (PINCH-bek) is a zinc-copper alloy used to imitate gold in making jewelry. By extension, the word has come to mean counterfeit or fake. (“We laughed at the pinchbeck heroism in the movie.”) It was named for Christopher Pinchbeck (1670-1732), the London watchmaker who developed the alloy.
Example (as used by Anthony Trollope in Framley Parsonage ): “Where, in these pinchbeck days, can we hope to find the old agricultural virtue in all its purity?”
Copyright ETR, LLC, 2009
Note about human anatomy: telling people to measure their waistlines “just below the navel” is not correct. Actual waistline is generally 1″ — 2″ ABOVE the navel. Measuring below the navel will give you an inaccurate result. Just because men’s trousers have waistbands at “navel level” doesn’t mean that is where the true physical waistline is.
Nice Post. I am a computer engineer and I am working in a consulting management firm. Video conferencing equipments are highly preferred in our office as we have frequent meetings with our clients and personnel in other locations. I will be looking forward for more updates.