Beating your competition

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Let’s talk about competition. Although it may sound a bit strange, ideally what you want is bad competition. What I mean by this is that there are enough competitors to make you feel good about the viability of the niche, but they’re doing a lousy job at marketing their products or services. By implementing a marketing funnel, you should be able to capture a nice share of the market.

If there’s intense competition in a niche and they seem to be doing ...

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Your welcoming video for your website

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Let’s talk about your website, and specifically the experience that people have when they first arrive.

Remember, one of the primary goals is to motivate visitors to join your community. In order to do that you lead a great lead magnet (free report, ect) and a welcoming video.

In this video we want to welcome people, communicate that we understand a problem they’re facing, and direct them to take action by downloading the free report. The goal ...

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The 5 Marketing Principles For Growing Your Business

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At the risk of stating the obvious, the success of any company depends upon having a consistent flow of new prospective clients. Unfortunately, far too many businesses rely solely on their existing clients and referrals as their primary methods for get- ting new business. While this may prove to be a successful strat- egy in the short term, it invariably leads to the “feast or famine” roller coaster that so many businesses experience.

Here’s what I ...

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Niche Pricing Strategies

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How much money is your niche able or willing to spend? Are you selling to bigger corporations or smaller ones? To the affluent or the almost broke?

You can accept as gospel that some of your prospects will think your prices are too high. In reality that has more to do with how well you communicate the benefits, but the market you choose to sell to will also influence how much you can charge. You can ...

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Be Interesting, Be Relevant

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Henry Kravis, founder of private equity firm KKR, was asked once how to to succeed in an increasingly commoditized Wall Street environment. His advice is relevant to anyone who is seeking to carve out a niche for themselves and appeal to an elite segment of clients.

Kravis responded, “Be interesting, be relevant.”

Good advice, but how do we put that into action?

A couple of thoughts.

We find those who have a perspective, interesting. Rather than telling me that you would “love to explore ...

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Finding a great JV partner

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The ideal JV partners are people selling complementary (as opposed to directly competitive) products or services to the same customer base as you. Finding these people starts with the questions, “Who already has relationships with the people that I’m trying to sell to? How does what I have fit with what these people are already selling to their market?”

Sometimes there’s a natural fit: Realtors are a natural JV partner for mortgage brokers. Financial advisors and ...

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Top Advisors To The Wealthy Share Their Secrets

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I had the opportunity to spend some time last week with one of the top luxury real estate producers in California, and an elite money manager in Chicago. Both of them focus on a small segment of the overall market with very impressive results.

Although the realtor closed only 12 sales last year, they were for a combined total of $61 million in transaction value. The wealth manager has $135 million in assets under management from just 18 clients.

Even if you’re ...

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A neat trick for getting the affluent to pay attention to you

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Andrew Sacks, founder of The Affluence Collaborative, which helps brands target affluent consumers, says marketers need to learn to dissect the wealthy, correctly breaking them down into subgroups, each with their own unique characteristics.

“To try and appeal to the wealthy as a group is not a winning strategy,” he says.

Whether it’s products or services, the key is to craft a message that resonates with a very specific audience.

A what makes a good message?

A great story.

Case ...

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How To Attract The $4 Million Client

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So my friend Saul, just inherited $4 million. Very cool for him.

Now, Saul’s done pretty well for himself over the years-owns a PR firm and has been making some good coin for the past decade.

But this is a real nice windfall.

The challenge is that while Saul’s a smart guy, he’s not an investment expert, so he decided to get some assistance.

Interesting lesson for anyone who’s in the financial space, or anyone who wants to work with affluent clients.

As you might ...

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The Rich Are Snobs

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The rich are snobs.

But not in quite the way you would think.

It’s not so much that they look down on other people, as much as it is that they want others to recognize their place on the monetary pecking order.

Which is important if you want to do business with them.

I know you’ve heard endlessly about niche marketing strategies, and about how by appealing to a smaller segment of the market, you’ll actually do better than if you try to appeal ...

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