By: Dean Jackson & Joe Polish
Before Unit: Profit Activator #1 – Narrow Your Focus and Select ONE Target Market (at a time):
The first step in triggering profit activators is to narrow your focus and select one target market at a time. Instead of trying to capture the broadest possible audience, the advice is to dominate a specific target market. By identifying the top 20% of customers providing 80% of profits, businesses can tailor their efforts to market to the most profitable customer segment, leading to a transformative impact on the business.
Before Unit: Profit Activator #2 – Use Direct Response Offers To Compel Prospects To Call YOU:
Profit Activator #2 emphasizes the use of compelling direct response offers to grab prospects’ attention. The focus is on crafting marketing that centers around the prospect’s needs, offering information that is perceived as immensely valuable to them. This approach, unlike traditional sales pitches, builds trust and positions the business as a valuable resource, eventually leading to prospects reaching out on their own initiative.
Before Unit: Profit Activator #3 – Patiently And Systematically Educate And Motivate Prospects To Meet You…When They’re Ready!:
Profit Activator #3 involves leading prospects through a systematic educational and motivational sequence. Recognizing that most prospects are not ready to buy immediately, the emphasis is on providing valuable educational materials that build trust and rapport. Balancing education and motivation is crucial, and automating the process using tools like auto-responders and free recorded messages is key to efficiently nurturing leads.
During Unit: Profit Activator #4 – Present Your Unique Service Offer In A Way That Makes It EASY To Get Started:
The During Unit begins with Profit Activator #4, focusing on the first meeting with motivated prospects. This step involves presenting services or products in a way that makes it effortless for prospects to get started. Simplifying the process and making it easy for prospects to say yes increases trust and rapport, laying the foundation for successful sales interactions.
During Unit: Profit Activator #5 – Deliver a “Dream Come True” Experience Designed From Your Client’s Perspective:
Profit Activator #5 centers on mapping out the customer experience to create a “dream come true” scenario. Understanding what customers love and hate about a particular industry helps design an exceptional experience that turns customers into enthusiastic advocates. The goal is to orchestrate referrals by ensuring customers are excited enough to share their positive experiences with friends and family.
During Unit: Profit Activator #6 – Provide After Sale Service – Even After You’ve Already Been Paid:
Contrary to common belief, the sale is not over after collecting payment, as Profit Activator #6 explains. After-sale service, performed even when not expected, has a significant impact. Small gestures, such as follow-up calls or unexpected gifts, reinforce positive feelings and provide opportunities for customers to refer the business during conversations with others.
After Unit: Profit Activator #7 – Nurture Lifetime Relationships And Focus On Lifetime Value:
Profit Activator #7 stresses the importance of nurturing lifetime relationships and maximizing lifetime value. Building on the understanding that repeat business is more cost-effective than acquiring new customers, businesses can implement strategies like ascension plans and diversified product lines to increase the value of loyal clients over time.
After Unit: Profit Activator #8 – Orchestrate Referrals By Giving Your Clients The Opportunity To Feel Great:
The final profit activator, #8, in the After Unit focuses on orchestrating referrals intentionally. Recognizing that people refer others not as a favor but to feel good themselves, the strategy involves creating conversations about the business and guiding clients on how to introduce the business into relevant discussions. By understanding the psychology behind referrals, businesses can proactively drive word-of-mouth marketing.
Implementing the 8 Profit Activators, categorized into the Before, During, and After Units, provides a comprehensive framework for transforming business results. From narrowing focus to orchestrating intentional referrals, each activator contributes to building strong customer relationships, enhancing the customer experience, and maximizing the lifetime value of clients. By following this strategic approach, businesses can create breakthroughs and achieve sustained success.