Posts Tagged ‘business development’

Facebook For The Affluent?

Tuesday, October 4th, 2011

Social media has found a new resource for those targeting the ultra-affluent, and ten nationally ranked firms, catering to the wealthy, have jumped on board.

Equilar Atlas contains profiles of about 250,000 chief executive officers, board members and executive directors at almost 5,000 public companies and 5,000 nonprofits.

Similar to LinkedIn, once your contact information is loaded into the system, you’re provided with an extended graph that illustrates how you’re connected to this very exclusive network of individuals.

But, it’s not an inexpensive network to join. The cost is $10,000 annually for unlimited access to the database for the first three users and $2,400 for each additional person.

Is it worth the investment?

Since people marketing services to the affluent already know who the wealthiest CEOs are, the database may be most helpful in revealing names and compensation for CEOs of smaller public companies that may be below the radar.

What has been your experience with using social networks for developing relationships with the affluent? Tangible results or is it just more hype than substance?

Private Consultations For Those Seeking To Implement A Client Attraction System

What’s really working for marketing to the affluent? Invite author and marketing strategist Mark Satterfield to speak at your next conference. Email Barb@GentleRainMarketing.com for details.

Gaining access to the inner circle

Wednesday, September 21st, 2011

I’m probably not telling you anything you don’t know when I say that most prospects don’t respond well to the direct head-on sales approach. If for no other reason, it’s almost impossible to get into the inner circle that way.

Although the following video was specifically developed for my Gentle Rain Affluent Marketing subscribers, I think you’ll find the strategy helpful regardless of the type of services you offer. It’s in today’s video:

Talk soon
Mark

PS: Would you benefit from some personal coaching on how to attract more affluent clients?

How To Persuade Others

Monday, September 12th, 2011

The key to persuading others (and converting prospects into clients) is to understand their mindset.

Here are some basic questions you’ll want to make sure you know the answers to about your clients, that will dramatically help you be more effective in the sales and marketing process:

This video may take a few seconds to load:

The Mindset of your clients from Mark Satterfield on Vimeo.

If you’re ready to take the next step this will be of interest.

Good food for thought
Mark
PS: I’m looking for a small number of qualified individuals who can learn our marketing system to handle the overwhelming demand for our services. MORE INFO HERE

An Alternative To Free Reports

Monday, August 29th, 2011

By now I’m sure you’re in agreement that the easiest way to start the relationship building process is to give your prospects something for free.

It’s rather hard to argue that this is not a good idea.

Although there are a number of different mediums you can use to disseminate your information, (I’m a big fan of video), reports are still the workhorse that most people use.

But, let me share with you an alternative that you may want to consider.

Instead of a single report, consider breaking your content into a series of communications and offering it as a “mini-course”. (You can see an example HERE.)

Why would you want to do that?

Remember that the primary reason we offer free information is to get people onto our subscriber list so we can send them ongoing messages. Those messages are what’s going to convert prospects into paying clients.

These messages are most typically going to be sent out as emails, so we want our prospects/subscribers to get in the habit of opening and reading our email messages.

An easy way to accomplish that goal is to have the first few messages you send them be the mini-course they just signed up for. This not only gets them in the habit of reading your emails but you can insert sneaky marketing messages into the text. Like this:
******************************************
I’m aggressively looking for a small number of qualified people who can learn our marketing system to handle the overwhelming demand for our services. Learn More Here.
********************************************
Food for thought.
Mark
Jump start your Fall Marketing by doing this

You may be interested in getting this

Tuesday, August 23rd, 2011

I just finished writing an article that you may be interested in receiving.

Although it’s titled Gentle Rain Coaching-Is It Right For You?, it’s really my observations on establishing a vision for your company, avoiding some of the traps that hinder our success, and the journey I took to take my business to the high six figures.

It’s also about some of the frustrations that are unique to those of us who run small consulting or advice-giving businesses.

If you would like to read it CLICK HERE

But do me a small favor? If you request it please take the time (it shouldn’t take more than 15 minutes) to read it. Regardless of whether you decide to become a coaching client of mine, I think you’ll find it contains a lot of good food for thought. Things to reflect upon. Things to consider as you as move forward on the entrepreneurial journey.

Thanks

Mark

PS: CLICK HERE to get it

A Sales Tool For Experts

Friday, July 22nd, 2011

One of the challenges all of us face who are experts (whether we’re financial advisors, consultants, coaches or anyone else who gets hired for their expertise) is that our prospects aren’t usually as knowledgeable about our particular topic as we are. (Which makes an enormous amount of common sense since, if they were, they probably wouldn’t be hiring us.)

Unfortunately, what this means is that it’s very easy for us to talk “over the heads” of our prospects. We don’t mean to, and most of our prospects will never let us know they really don’t understand what the heck we’re saying, but still, it’s a real issue.

I’ve had many discussions with potential candidates in which I’d hear acknowledging grunts as I rambled on about sequenced autoresponders and information product up-sell strategies, without ever realizing that I’d left the poor person in the dust several minutes ago. Obviously, if prospects don’t understand what we’re communicating, the odds of them hiring us are usually between the proverbial slim and none.

But there’s an additional danger that we need to be cognizant of once we recognize this challenge. We don’t want to overcompensate and start talking down to our prospects. Not surprisingly they’ll take that as condescension, which is even worse than talking over their heads.

Fortunately the solution is simple.

Make sure that you’re using a lot of examples that illustrate the point you’re trying to make. It’s one thing for to say “Then we set up a sequenced autoresponder system that will enable you to put your communication on autopilot.” That assumes the person I’m speaking with knows what a “sequenced autoresponder” is.

I’d do a better job of bringing the benefits to life if I provide an example or story.

Such as…”I was working with a client in your industry who, like you, realized they needed to do a better job of staying in touch with prospects. What we set up was a system that automatically sent out messages in a pre-programmed sequence.

For example, the day after they requested the free report, they’d get an email with the subject line ‘Did you get it?”. It would include another copy of the link to get the free report and show that we were really interested in making sure the prospect got the information. A couple of days later the person would get an email titled “I’d love some feedback on the report”. As one might guess, asking for feedback is a great way to start building a relationship.

As a result of setting up these automated messages, this client increased his overall conversion rate from 5% to over 25%. You can imagine the impact that had on his bottom line.”

By using examples (or stories), we increase the likelihood that our prospects will be able to visualize the benefits that we offer. As anyone who has been successful in selling services will attest, “visualization” is crucial for converting prospects into actual paying clients.

Food for thought

PS: If you haven’t already you really should read my book on creating great sales stories. You can order it HERE

PPS: If you’d like to personally work with me to develop your marketing campaign but my Platinum program is outside your budget, here’s what you might consider. INFO

The Power of Sales Stories

Friday, July 15th, 2011

The power of using sales stories was brought home to me recently when Marian and I were house hunting.

We made the decision a couple of months ago not to move from Atlanta to Pinehurst NC. (It’s a delightful community but unfortunately just a bit too small for us.) With that decision under our belt we then realized that if we were going to be here for the long term, staying in a 4-story house just wasn’t going to work. (The joke we tell is that if you’re on the first floor and what you need is on the 4th, you either do without or go buy another one.)

We narrowed our search down to one community close by to where we currently live called Country Club of the South. Off we went to look at houses and I’ll admit that they started to blur together very quickly. I think our realtor sensed that we were going to have difficulty making a decision. So on the next house we visited (you can see a picture below) she decided to tell us a story.

It turns out that an Asian couple, who are staunch believers in Feng Shui, owned this house. For those not familiar with Feng Shui, it’s an ancient practice with many applications, one of which is determining the optimal location for your house. (Building a house on the earth dragon’s back is good, on the dragon’s head or heaven forbid, his eye, not so much.)

Now our realtor was very good, and had picked up clues that Marian might be particularly interested in Feng Shui.

Thus when we arrived at this house, completely overloaded from having seen too many houses, she decided to tell us a story.

And what a wonderful story it was.

How the owners consulted with a Feng Shui Master to decide which of 3 separate lots was the best one to build on. How the design of the house in a “H” created positive energy. How the arches were specifically designed to ward off negative spirits. And much more.

Guess which house stood out amid all the rest?

Guess which one we’re moving into the first week of August?

Intellectually, I think we all know that it’s the stories we tell that differentiate us from our competition. We understand that stories enable prospects to visualize in their minds the benefits we offer.

But…the reality is that most of us just don’t use stories as much as we should (or could).

So…What are the stories you should be telling?

Food for thought
Mark
PS: If you haven’t already you really should read my book on creating great sales stories. You can order it HERE

PPS: If you’d like to personally work with me to develop your marketing campaign with you but my Platinum program is outside your budget, here’s what you might consider. INFO

What Story Are You Telling?

Tuesday, July 12th, 2011

Adding to the list of things I’m determined to be mediocre in, I’ve recently taken up tennis. Which is probably part of the reason why I found the recent Wimbledon tennis matches so fascinating.

Aside from some great tennis, the Wimbledon matches also offered up some great examples of advertising. Not surprisingly, the best ads were those that told great stories.

Now I’ll admit that technology infrastructure design leaves me not burning with desire to learn more. But, IBM’s ad with the hook, “25% of the world’s food supply is lost to spoilage” put a very human face on what otherwise might be a “Do I really care?” business ad.

Being a long time Apple fan (in fact I’m probably the only person you’ll ever meet who actually has never used a PC) the story of the transformative iPad2 was equally engaging. “Now we can watch a newspaper. Listen to a magazine. Curl up with a movie. And see a phone call.”

But there were also misses. U.S. Bank, for example, tried to jam too many dispirit scenes into a 30 second spot. As a result, the emotional hook (and by that I mean getting the audience to care) was lost.

For all of us who are seeking to build our brand and attract new clients, the fundamental key is what stories are we telling? Disseminating stories is the easy part-developing the stories that will resonate with your market is the “mental heavy lifting”.

Which is why if summer is a bit slow for you (or even if it’s not), now is a good time to develop those stories that will differentiate you from your competition and intrigue your prospects to want to learn more about who you are.

Food for thought.
Mark
Need some assistance in creating great stories?

New Billionaire’s Rules For Success

Monday, June 27th, 2011

It looks like Bob Parsons, founder & CEO of GoDaddy.com will join the ranks of newly minted billionaires as his company is acquired my KKR.

One thing I love about Parsons is the joie de vive with which he lives his life and runs his business. Case in point, his rules for success. You can read them HERE

All good points to keep in mind for all of us.

Talk soon
Mark
For the 5% who are committed to getting outside their comfort zone when it comes to attracting more affluent clients.

What A Disaster

Thursday, May 26th, 2011

My neighbor Stan is in the advice business. And like all of us, he’s continually focusing on building his client base.

Stan decided to do an email marketing blast to a very targeted (and expensive) email list of prospects. I think the list was a bit more than 5,000.

Guess how many people opened the email? (I’m not talking about reading it, or acting on it-which are the next steps)…simply how many people just opened the email?

Zip…Nada…Bupkiss…

Needless to say (but I’ll say it anyway) Stan was pretty upset.

Anyway, I like Stan (he keeps an eye out on the house when Marian and I are on vacation) so I told him I’d do some editing on his email.

So I made one change and guess what? The second time the blast went out, the open rate was 21%. (Which is really good considering that this was a cold list that didn’t know Stan from the proverbial hole in the ground.)

So what was this change?

To fully appreciate it, we need to remember that in email marketing (and the same holds true for sales letters) there is a sequence of steps that we need to motivate the reader to go through.

With email that first step is…GET IT OPENED.

And there’s one thing that will make or break your prospects decision to do that .

What You Put In The Subject Line.

The first step in email marketing lives and dies on that one thing. (Of course we can mess up the process after that, but if we don’t get it opened, everything else is a moot point.)

So what do we want to put in the subject line?

Focus on “Negative Curiosity”

One of my coaches, Frank Kern, relates that the highest open rate he ever had for an email was one in which the subject line was, “Bad News.”

In fact, you may have noticed that I used this strategy for the email that eventually led you to read this article. The subject line? “What a disaster.”

But, here’s an important point you’ll want to keep in mind.

Although “Negative Curiosity” will get prospects to initially respond to your message, it’s “hope” that will both bond them to you, and ultimately get them to become actually clients.

One strategy to make the transition from “Negative Curiosity” to “Hope” is to offer your readers great content. Practical ideas they can use. Answers to the most common questions that you get asked. Remember, you want your reader at the end of your message to really believe you’re the expert in your particular field. That’s how you build relationships and eventually more paying clients.

But…the first step in the process is to get people to pay attention to you. That’s why focusing on “Negative Curiosity” in the subject line is so powerful. (But you have to do it creatively, not ham-handedly.)

Good luck, and as always, if I can ever be of assistance please let me know.

Thanks
Mark
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