My Notes on “Getting Everything You Can Out Of All You’ve Got” by Jay Abraham:
Only 3 Ways to increase income:
- Increase the number of clients
- Increase the size of the sale per client
- Increase the number of times that client buys from you
Difference between a customer and a client
- A customer is someone who purchases something. A client is someone under our protection. So when a client wants to buy a bicycle for his son, what he really wants to spend precious time with his son to teach him to ride a bike, so its in his best interests if I sell him the best bike in the store that won’t crumple if he bumps into a tree. I am a trusted advisor, so he’ll be back next year to get bikes for the whole family.
How to write USP’s:
- Be clear and to the point. Eg “We always have 168 different widgets in no less than twelve different sizes and ten desirable colours in price ranges from $6 to $600.
- USP’s can be based on service, guarantee, extended hours, price discounts, quality… quantify exactly how you a superior to the industry standard. Ensure all staff know and uphold the USP
The bigger the guarantee, the bigger the profit.
- Very few take you up on it, and it reduces risk.
- A better than risk free deal is even better = keep the free offers as a thanks for giving it a go. Make them specific and long eg “No questions asked, 100 percent money-back, ninety-day guarantee if you can’t honestly state that you got the increase in business that I led you to expect. If you are not completely satisfied within the first ninety days of using my services, we don’t’ deserve to keep your money. You have every right to ask for a full, no question asked, on-the-spot 100 percent refund anytime you decide.”
Making add-ons work
- What is the end result the client wants? Offer add-ons that help them achieve that end result.
How to win back old customers
- Send a series of 5 letters, each with a different hot-button technique: Appeal to the procrastinators with discount for the year, appeal to value conscious with a free offer, et, send unsolicited gifts. Just call and ask them back. Even be friendly with lost-cause clients and they will spread positive word of mouth
Direct mail
- Headlines are the key
- Body copy should be as long as it takes to persuade them and get down all the facts
- Explain what the service will do for them
- Write it entirely from their side
- Show in words and concrete imagery what they can gain or save or achieve, how it will benefit them.
- Validate all claims with lots of facts.
- Counter every objection before they even think it.
- Specific calls to action “pick up the phone and call me”, “send your order before the sale ends. Mail it today”
- Restrict the quantity and time of the offer
- Give a no risk guarantee
- Detail the loss of free bonuses if they don’t respond
- Letters are better than emails
- Always accompany a brochure with a sales letter to amplify and dimensionalise it
- Include a coupon with a response mechanism “send this in for a free report”
Telemarketing
- Prepare the way for telemarketing with direct mail
- State benefits, ask questions, be responsive to their input
Websites
- Instead of “Welcome to the website of xyz”, start with a benefit laden headline
To save cash – Barter/Contra
- And if not 1-1, involve a third party
Turn clients into friends
- Call them regularly to see how they are doing. They will reward you with loyalty and word of mouth
Thanks this motivated me to buy the book again