High pay vs. Low pay marketing
Since 1997, I have been delivering value to clients. That fact means that I market and sell my services every day. In everything I do and say…
Years ago I coached a new franchisee in the Sandler Sales Program, called President’s Club. Pat needed to distinguish between high pay and low pay activities, because he is distractible. (Like most small business owners.) I helped him increase his business over 300% in 6 months. He had to do so. I strongly recommend the President’s Club content. And I strongly recommend re-visiting the President’s Club content, which is what I did yesterday.
High Pay marketing activities are those that will likely lead to relationships and higher value sales.
- direct meetings with qualified prospects
- direct meetings with referred or pre-qualified prospects
- invited speaking in your area of expertise
- cause marketing in your area of expertise
- networking with buying agents
- invited writing as a credible expert
Low Pay marketing activities are those that will likely lead to transactions and lower value sales.
- email marketing
- direct mail marketing
- interruptive advertising
- paper and digital advertising
Last week I met a local marketing expert, Shelly, who provided a circular model of marketing services she could offer her clients. Imagine spinning the Wheel of Fortune with as many colorful options. I appreciated her ideas, but felt dizzy.
Last week I also met a financial advisor who had been a member of MDRT, the Million Dollar Round Table, for 11 years straight. He was exhausted. His marketing system required that he deliver seminars to local retirees who needed to invest in his estate planning solutions. He wanted to know if there was something else he could do that would yield similar high results, but be easier. I said, “No. Nothing is simpler. Thank God.”
He give me a strange look, and asked, “What do you mean?”
I explained, “If you want great compensation, then you need to provide high value. The laws of marketing require that. When we give great value, then and only then we receive great value. You know that better than most, who dream of being at the MDRT level. What you need is a regular kick in the ass.”
He agreed and hired me to coach him.
You can too. Call me at 704.895.6479 now.
So, are you engaged in high pay or low pay marketing?