The “Essence” of Marketing
by Paul Polanco
www.OnlyTheSerious.comIt is now July of 2004 and the internet business community has gotten incredibly competitive. I remember back in 1999 when all I had to do was put up a website, submit to the search engines, maybe swap a few links, and I was making an extra 1 to 3 thousand US dollars a month.
Those days are LOOONG gone.
I’m still amazed at all the quick-buck artists that are out there. There are start page programs, software programs such as Traffic Tornado, Traffic Equalizer, Smart Page Builder, etc.
The problem with all those programs is that the Search Engines will eventually wise up to them. This is why you should either:
a) Offer solid content and don’t try and trick the SEs.b) Have a Killer Sales Page with an opt-in.
As many of you know I am a HUGE advocate for investing in quality leads and personally calling every single one of them during your first year in network marketing.Why?
Because it’s still proven to be the most cost-efficient way of building your business. This is assuming you do NOT have a large opt-in list or an already-existing network (such as a former downline or network of people that will do business with you no matter what you join).
Most people are afraid to pick up the phone because they think they have to do the high-pressure SELL. They are afraid of rejection and they are afraid of “Handling Objections”.
Yes, it takes skill to do these things, and the best way to learn these skills is to learn from someone else. Whether it’s from Hilton Johnson at www.mlmu.com or Todd Falcone at www.precisionmlm.com.
I always tell my new recruits that the first 100 calls are “throw away” calls; meaning that those first 100 dials they make are going to be filled with a ton of mistakes. And that the more mistakes they make, the better.
Since this will increase the learning curve dramatically.
If a shy man like me (ok, ok, I USED to be really shy) can build a large financial planning client base from the yellow pages, then ANYONE with the right amount of desire can build any quality mlm program by calling good leads.
But that’s the key.
DESIRE.
Quite frankly, most people just don’t have it, at least not to the level where it needs to be. I base this on the thousands of people that I’ve met and consulted with that continue to jump from one program to another.
Or the many that quit when things get tough. I remember when I first got started in networking. I didn’t get my first recruit until I made over 1,000 phone calls!
Of course, that was my fault because I was too stubborn to realize that calling business seekers was a lot different than calling potential planning prospects.
People usually think that the program is at fault, and while this may be true a lot of the times, it always goes back to them.
They haven’t understood what I like to call “The Essence of Marketing”.
What is the “Essence?”.
It’s understanding WHO your customers are, knowing EXACTLY what they want, HELPING them arrive at a decision, and having them SEE that your product/service is the solution to their problem, and then turning them into life long customers.
That is the ESSENCE of marketing.
Simple? Yes. But most people don’t truly understand it. They continue looking for that “magic” bullet, when it doesn’t exist.
The closest thing to a “magic bullet” is acquiring knowledge and skills that you don’t have yet. Once you acquire them they seem like “magic bullets” to those that don’t know them.
If people really understood the “essence”, they would never, and I mean NEVER stop their marketing efforts. They would never stop testing and tracking all their ads.
They would never join ten programs in one year. They would never violate the Laws of Business, one of which is The Law of Momentum, which they destroy everytime they quit a good program and join another one.
What I’m about to share with you is ONE of the many formulas that I have used to earn a nice, six-figure income. Most of you won’t value it because it didn’t cost you anything.
But I know there will be a handful of you that will run with it and one year from today you will email me at my personal email at peabs99@dslextreme.com and tell me that this formula worked for you (by the way, please don’t send me any offers to my personal email address, I won’t read them).
Now, I’m going to assume that you are in some kind of network marketing (or affiliate) company that offers some product or service. I don’t care if it’s health products, long distance, financial services, or some kind of magic juice.
This formula will work as long as your product is unique, has a large market appeal, and has good positioning and price points.
Ready?
Foaming at the mouth yet?
Just kidding, here we go.
Now, this is just ONE formula that I have used. It is not a get-rich formula and may take 3 to 12 months to really see it grow, but once you’ve got it going it will create sales for you every single month.
Once you fine-tune it, it will produce like clockwork.
First, let me give you the components of the formula:
MR + HTM + HPOS + HMS + AFS + BEP = RIFL
In plain english the formula reads like this:Market Research + Hot Target Market + Hot Product Or Service + Hot Marketing System + Automated Follow up System + Back End Product/Service = Residual Income For Life
This formula is hundreds of years old, and though there are hundreds of derivatives of it, the basic formula is the same.Let me break it down for you and then I will also give you some examples of how it works.
MR = Market Research.
This is so critical to any business that I call it the “make it or break it” step. Too many people jump into a business without even researching it. They don’t even know what the demand is for that particular business or service.
Here’s an inexpensive way to do some market research. Go to www.doteasy.com and register a domain name related to the MARKET you plan on selling to.
Then use any free FTP program that you can find at www.download.com to FTP your webpages and put them online. Most web hosts either offer one or have links where you can download one at no cost.
While you are waiting for your domain name to get online, you now go and use www.wordtracker.com or the free tools provided to you by Google.com at https://adwords.google.com/select/ to find some good keywords that people will type in to find your product or service.
You will want to come up with no less than 100 key words, but 1,000 is much, much better.
If you are in business for the long haul then I strongly recommend getting www.AdWordAnalyzer.com. I’m not an affiliate but I love that software program. It not only helps you find keywords but it also shows you how many competitive ads are on Google AND Overture.
It’s a real time-saver and a great tool for those of you that need keywords for PPC campaigns and building your own websites.
Using those key words you are going to open an account over at https://adwords.google.com/select/ for $5 (as of this writing).
You are now going to create a series of different ads. You should have 5 to 10 keywords per ad for maximum effectiveness.
Make sure the ads are “paused” and not activated yet.
Now you are going to build a survey, you may have to pay a college student or a friend a few bucks to make the form work, but it will be well worth it.
Me, I just figured it out on my own. You can go to websites like www.htmlgoodies.com to learn how forms work. I also have a book called “SAMS Teach Yourself HTML in 21 Days”.
That investment 5 years ago has paid of HUGE.
A few dollars now may save you thousands (or make you thousands if you hit a winner).
Most people don’t do this, even some of the ones that PAY me to tell them this. Then they wonder why their business failed.
You don’t have to do your MR this way as long as you find a way to survey your potential customers.
Ok, what should your survey ask? Well, it depends on your industry, but I would definitely ask:
1. What is your #1, #2, and #3 challenges when shopping for…..
or
looking for….
Let’s say you have weight-loss product called “Herb-E-Eddie” and it promises to make you lose 10 pounds per month. You may want to ask your visitors:1. What is your #1 challenge when it comes to losing or managing your weight?
2. Do you have a favorite weight-loss product?
3. How much did you pay for it?
4. What did you like about it?
5. What other products are you willing to try?
6. How much are you willing to pay for it?
7. Would you buy a powder-based product?
8. Would you buy a capusule-based product?
9. What is the most important thing to you about a weight-loss product?
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Now keep in mind I just came up with these, but you get the idea. You want to FIND out what it is your potential customers are looking for.Get at least 30 to 50 completed surveys. Then compare the answers. You might be surprised at some of the answers.
Now go and FIND a product and/or service that matches their answers. Try and be as objective about this as possible.
You’re going to design your sales letter based on THEIR answers. This will help you dramatically with your closing ratios.
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MR + HTM + HPOS + HMS + AFS + BEP = RIFLMarket Research + Hot Target Market + Hot Product Or Service + Hot Marketing System + Automated Follow up System + Back End Product/Service = Residual Income For Life
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HTM = Hot Target Market. This one is simple. Look for a market that has existing, eager, ready-to-buy, proven buyers. I’ll give you two HTMs that will probably always be hot:
a) small business ownersb) single men and women
Find a way to find out their SPECIFIC problems, create a survey to find out what their #1, #2, and #3 solutions are, then go build a website or join an mlm or affiliate program that solves their problem.Another HTM here in Calfornia is real estate sales. Though I don’t have the time right now, one of you that lives in California (or if real estate is hot in your area) can build a website with an opt-in form that gives them a no-cost report on how to buy a home and save thousands of dollars.
You can then SELL those leads to Realtors and/or mortgage brokers. If you go to Yahoo.com or Google.com, these companies are paying $10 to $25 per click!!! This is outrageous!!
If you can get them to pay your $25 per filled out form, they WILL sign up! A filled out form is always better than a click.
How would you do this? Find keywords that no one else is bidding on or very few people are bidding on.
Again, most people don’t follow this formula and then they wonder why they fail. I’ve paid a lot of money and time to learn this formula and I use it every time I build a new business, offline or online.
I just gave you a real gem there.
Never forget Market Research.
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MR + HTM + HPOS + HMS + AFS + BEP = RIFLMarket Research + Hot Target Market + Hot Product Or Service + Hot Marketing System + Automated Follow up System + Back End Product/Service = Residual Income For Life
=====================HPOS = Find a Hot Product or Service that will solve the problem that your Hot Target Market has. I see way too many programs out there that promise the sun and the moon.
Yet their product or service doesn’t really solve anyone’s problem. It’s a product or service that no one really wants or needs; these companies always fail.
Let’s take downline clubs as an example. Do these really work? In the long run they always fail because they violate too many fundamental business rules.
They promise sign ups, and yes, you get tons of sign ups, but how many of them turn into paid signups that become PARTNERS and hang around long enough for you to earn your commission?
Here’s another one.
This is why health products are very tricky to market (notice I said “tricky” not “bad” for those you that market health products). If you market health products they should have something VERY unique about them and should be CLINICALLY proven by an outside 3rd party to boost credibility.
This is just Marketing 101.
I’ve seen people sell tons of their health products when they follow this formula. Health products is an over-crowded, highly competitive market and is a game for men and women, not boys and girls.
How do you find a HPOS? You use a survey! I forgot to mention, to make your survey get results you have to offer something for no cost, such as a report, an audio file they can listen to, a CD rom, etc.
This will increase your results.
Once you get your answers either make your own product or go find a program that has that product or service.
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MR + HTM + HPOS + HMS + AFS + BEP = RIFLMarket Research + Hot Target Market + Hot Product Or Service + Hot Marketing System + Automated Follow up System + Back End Product/Service = Residual Income For Life
=====================HMS = Hot Marketing System. I could write ten books on just this one, so let me explain this one as best as possible with the short spacing I have here.
A HMS is any marketing system that PREDICTABLY creates more sales than your expenses.
Some examples might be creating a theme-based website and driving traffic to it using Pay-Per-Click Search Engines as well as optimizing tons of article pages to attract no-cost SE traffic.
I know some of you have written me stating, “I have no interest in building a website.”
I totally respect that. However, my way of thinking is that oftentimes to reach our lifestyle goals, we have to do things we don’t want to.
I know in my business there are plenty of things I’d rather not do, but I do them because I know it will bring me closer to my lifestyle goals. For example, I’d rather be watching the Lakers or football than writing an article that I can submit to 100 article directories.
But it brings me no-cost traffic and sales, so I continue to do it. Of course, you don’t need a website, but I think it makes it much easier on you because it can do most of the presentation and explaining for you.
It’s also a great way of building your own opt-in list. It all depends on your marketing goals.
Another example would be to create or have someone create a postcard, find a list to send it to, and then continue to mail postcards and test their response rates (1% is the industry average, so you want to shoot for at least that; then again, it’s whatever creates more profit for you).
I have a good friend of mine that markets his NONI-Juice (TM) through post cards and does very well (he earns over 8K a month in residual sales, not counting his new sales).
Another marketing system would be your very own e-zine.
However, e-zines are a HUGE commitment and need to be marketed constantly in the beginning (until you have it to where you are getting opt-ins automatically).
Here’s another one. I get 100 opt-in emails every single day by using Pay-Per-Click Search Engines. I simply put a web page with my picture, biography, and offer a free 5 to 10 day course via email.
I don’t talk about my business specifically, not until about day 3 or 4 of my email series.
Why? Because I want to give them VALUE first. Otherwise if you ask for a sale or talk about your business in your first email they will tune you out.
This cost’s me about $5 to $15 a day, depending on how many Google Ads I have running. I profit about 300% on average, so this system works very, very well for me.
If I spend $15 in one day, I make about $45 and profit $30. That’s an extra $900 a month and it’s all automated. This is just my lead product and not my back-end product (more on that later).
Man, aren’t you just loving this yet? Or maybe this is information overload. In any event, you may want to save this email and re-read it a few times.
Another simple, but powerful HMS is buying leads and calling them CONSISTENTLY and following up. I have friends in the mortgage, financial planning, debt consolidation, and also in networking that make a lot of money just using this ONE system.
The key here is that they NEVER stop calling. They always have their lead funnel full. They only focus on people that are interested and don’t spend any emotional energy on those that are not (key distinction there).
I think lack of training and discouragement are the two biggest culprits to phone prospecting. The right mindset is CRITICAL when prospecting by phone.
This is why if you are not getting results, find a mentor and follow what they have to teach you to the letter (we’re assuming here that they are ethical and honest, ok?).
Ok, next part of the formula.
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MR + HTM + HPOS + HMS + AFS + BEP = RIFLMarket Research + Hot Target Market + Hot Product Or Service + Hot Marketing System + Automated Follow up System + Back End Product/Service = Residual Income For Life
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AFS = I think virtually every business needs to have an automated follow up system. This is where autoresponders come in handy.I haven’t decided one way or another on how effective desktop icons on a person’s PC is compared to email. Some people claim as much as a 300%-500% increase in responses compared to emails, but this is the minority.
Most people I talk to aren’t seeing those kind of results.
Email still works great for me and still makes me a lot of money with it, so until that stops working, I probably won’t be making the switch. If any of you use the desktop technology and have seen it blow away your email marketing campaigns, please let me know, I’ll make it worth your while.
Ok, I got distracted there.
Your AFS will vary. For some it means autoresponder follow up, for others it could mean hiring a telemarketer and have them do the follow up for you and then pay them a bonus based on how many more sales they make.
This frees up YOUR time to continue marketing or creating new products or promoting more affiliate programs.
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MR + HTM + HPOS + HMS + AFS + BEP = RIFLMarket Research + Hot Target Market + Hot Product Or Service + Hot Marketing System + Automated Follow up System + Back End Product/Service = Residual Income For Life
=====================
BEP = Back End Product or Serivce.Let’s say you market long distance service. Do you have another product that will compliment it? Something that you can also offer?
What if your prospect doesn’t want to buy long distance from you, what OTHER product or service can you offer them?
At some point, I believe every one needs a back end product (ok, ok, VIRTUALLY everyone).
For many of us, our back end programs are an autoresponder service or a leads program that we have our new recruits join. So many of you are doing this already.
Here’s a great way to increase your monthly income. Build your own email opt-in list and promote a new product or service about once a month to them. This is how EVERY big named marketer continues to make money every month.
Corey Rudl, Armand Morin, Marlon Sanders, Diane Hughes, etc. they ALL do this.
So start thinking about diversifying AFTER your mlm program has a solid team and is already in profit mode. You don’t want to rely on only ONE company for your livelihood. Trust me on that one.
In fact (this is the financial planner in me coming out), you want to eventually diversify into real estate, stocks, and maybe, just maybe a traditional business or two (paid from your profits).
And above all else, make sure you have the right kind of insurances. Too often I see people with 5, 10, even 20 life insurance policies and paying too much for life insurance.
Ok, there I go again on another tangent. But I’ve seen so many lives ruined because they did not have the right kind of life insurance, so make sure you get that handled even BEFORE you start any business.
At least that is what I advise my clients to do if they are married or have children. But it’s a complicated subject. Just beware the insurance sales person that only sells THEIR company insurance and no one elses. They have a vested intereste in trying to sell you their policy.
Shop around and don’t be afraid to ask questions. Especially when it comes to commissions. If they take offense to that, run for the hills.
When I was in practice I NEVER hesitated to answer that question. I was always upfront about all my fees and commissions. And your agent and/or planner should be too.
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So that is one of the formulas that I use. Now, just because you try something and it doesn’t work it doesn’t mean that the formula didn’t work, it just means that you either have a product that no ones want, you didn’t have a HTM, or you didn’t have a HPOS, or HMS.
Or maybe you didn’t do your market research.
The “Essence” of marketing is understanding this, tracking most, if not all, of your advertising efforts and constantly TESTING and improving.
Let’s take a look at Alex’s website at:
http://www.marketingwithpostcards.com/
Alex is such a great and detailed tester with all his advertising that this website only gets about 100 – 200 visitors a day, yet he makes a very good six-figure income from this.
He has all the components of the formula. He did his market research, he has a hot target market, his product simply over delivers, and he follows up with every one who opts-in.
And he has TONS of back-end products, all of which provide great solutions to people’s problems. So they are worth every penny.
This is just one real-life example of the formula at work.
I’ve seen it used for selling golf clubs, car detailing services, long distance service, baby carriages, massage services, dating services, books, ebooks, toothpaste, hair trimmers, vacuums, health products, financial information, real estate, loan services, and much, much more.
If you are NOT making money in your current program, I urge you to objectively look at this formula and see where you fall short.
Do you have a product or service that has a LARGE enough, Hot Targeted Market?
Sorry, 50 downloadable ebooks from a website is NOT a HTM or a Hot Product.
Are the people in that particular market PROVEN buyers? (E.g. such as business owners, home buyers, car dealerships, etc.)
Do you have a way of surveying potential customers or future reps on EXACTLY what they are looking for?
Do you do this every time you start a new business endeavor? If not, you’re walking on hot coals.
A lot of times I hear people make excuses such as, “I don’t have any money.”
I know I’m being blunt here, but those of you that know me, know it comes with good intentions and from the heart.
Talk like that is poverty-thinking, not millionaire-thinking.
Instead ask, “How can I afford this?” or “How can I find a way to market this anyway?”
I have a lady that I used to coach that started out without a single dime to her name. She spent all her free time in forums, giving advice to people and helping them. After a few weeks of this people started coming to her.
Why? Because she wasn’t trying to sell them. She first gave them VALUE and because she included her signature file to her website, people started joining her program.
But only AFTER she built a relationship with them. Again, most people don’t do this or think it’s a waste of time.
She built her own website by first going to www.doteasy.com because they have GREAT no-cost web hosting if you buy your domian name with them.
She built it borrowing her friend’s computer and using Microsoft’s FrontPage (TM). She knew NOTHING about building websites, but found a way to do it.
She would have gone to the library to do it if she had to, she later shared with me.
She also wrote about 20 articles and then began submitting them to ezine publishers, article directories, forums, and newgroups that allowed this.
This brought her about 50 to 100 new leads every month. Not a lot but they were leads that didn’t COST her anything except her time.
Unleash your creativity by asking that all-important question. “How can I get traffic to my website?” “How can I get my name out there?”
Here’s one more. Submit articles to your local newspapers, magazines, etc. Grab a copy of WRITER’S MARKET and start mailing in your articles. All you need is one national publication to pick it up to send a huge spike of traffic.
It may take some time, but it will be well worth it. This is something you should do continually.
Finally, the “Essence of Marketing” goes beyond the formula. It’s really about lifestyle. It’s about stepping outside your own comfort zone and taking calculated risks.
I’m about to turn 35 years old and I would never have acheived what I have today without just going for it and not being afraid to fall down.
I’ve just picked myself up and kept going.
And I still fall down to this day
Ok, bad joke.
But I talk to people all the time that say, “Paul, I don’t know where to begin” or “I don’t know what to do.”
Everyone starts there. Just start DOING something. Anything to start momentum. For some of you it might mean buying a copy of www.GoogleCash.com and learning Chris’s system.
For others it might be using www.SiteSell.com. Maybe for some of you it might mean going to http://www.rosalindgardner.com and picking up her affliiate hand book.
Or maybe going to Tood at http://www.precisionmlm.com and having him help you learn the skills to build your business.
I don’t know. It’s up to you. But the key is to do what Bob Proctor says, “Write down your goals, make a rough draft plan, and just GO FOR IT!”
You’ll feel more alive and the potential rewards are great.
I hope you enjoyed this article, I really do believe it can truly benefit you if you apply it.
Thank you for being a loyal reader, I truly appreciate it. And I hope to work with two of you in the near future (see below).
Good luck with all your endeavors.
Warmly,
Paul
How to talk to, meet, and date attractive women
www.TheDatePro.com