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for their product or service?
Bob: I think the first thing is understand that if a hundred
people show up at your website, there's almost like a hundred
different levels of interest. Sometimes the interest is very
casual and very uncommitted on one extreme, but on the other
extreme, there's a person who's absolutely going to do
whatever they can they're passionately interest.
Well, the passionately interested person is relatively easy to
sell to, and the nonchalant person is almost impossible to sell
to, but what makes the difference is what about those people in
the middle? What about those people that really aren't sure,
but they're trying to find their way around and they're trying to
decide who they trust?
They don't know that that's the approach to rheumatoid
arthritis, because there's 90 different opinions. So it's what you
do with those people. It's not being ten times better than the
other guy. It's actually just being a little bit better than the
other guy consistently a little bit better articles, a little bit
better ezine, a little bit better autoresponder sequence, a little
bit better sales letter, a little bit better headlines, a little bit
easier to get around and find what they want on your site.
It's those little incremental improvements that add up and
make the difference between the person who's number one and
the person who's a distant second.
Bob: It's interesting, because I used to preach that offline
over and over again what I called the leverage of the slight
edge. It's like you said, you don't have to be twice as good or
ten times as good. All you need to be is slightly better, but
slightly better consistently, and people take notice. They
notice that very quickly, and they'll see that consistency. As
you said, it does a lot for converting sales.
Perry: That's right. And I think another thing is that you
really need to think beyond the first sale. I think there's a lot of
merit to the idea that the most important sale is the second one.
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If you can get a person to buy once and then buy again, you've
probably got a very good chance of them continuing to buy.
Bob: Absolutely.
Perry: But if you can't get them to buy the second time,
then you've acquired a customer, made a transaction and then
lost them. A general observation in any media I don't really
think it matters whether it's infomercials or print ads or pay per
click or whatever is that most companies tend to acquire a
customer at a break even, and the prices of advertising tend to
rise to the point where most people are breaking even
acquiring a customer.
And breaking even acquiring a customer is not very
exciting if you're only going to sell them one thing, but it's
perfectly acceptable if you're going to sell them something a
second time, a third time and so on, and that's where all the
profit is. As a matter of fact, 95% of your profit comes from
5% of your customers. So what are you going to do for that
5% who come and stay around and stick around, that most
people aren't bothering to provide them.
Bob: Right, and those 5% are going to be your very active,
repeat buyers who are loyal and purchase almost everything
you put out.
Perry: Right. So I think a big strategy that's been
important this year that I probably talked to almost all my
clients and coaching members about is building your business
around that 5%, which most businesses are not built that way,
but if you go out to any business it could be a restaurant or it
could be a flower shop or whatever there is a small number
of customers that have brought in the majority of the profits.
And they don't just keep the lights on they actually allow the
owner to drive a nice car or whatever, and nobody's usually
paying a whole lot of attention to those people, and that's a
mistake.
Bob: Yes, it's a huge mistake, because the fact is, like you
said, most of the profit comes from a very small group of
customers, and if you're not paying attention that and treating
those people properly, then you're really kind of cheating
yourself out of everything your business could be doing.
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Perry: Right. And probably working about five times as
hard as you really have to, because you're dealing with all the
problem customers and all the ones that come in and say,
"Well, I'm not really sure if I can trust you and I don't know if I
want to buy this." You spend all this time convincing them,
and then they still never come back. That's a way to get gray
hair early.
Bob: Absolutely. Well, Perry, this has been a great ten
minutes. If you wouldn't mind, could you take a little time and
tell the listeners how they can get in touch with you and a little
bit more about what you have to offer?
Perry: Well, you can go to my website, which is
www.perrymarshall.com, and there's a number of things there.
I would say some of the more popular things are I have a book
called "The Definitive Guide to Google AdWords", which, for
a lot of people, that's their reference book for buying search
engine traffic.
I also have a free course that goes into a lot of depth about
different things, if you're kind of looking around and
investigating. And I have an advanced course, if you are
genuinely good at buying Google traffic and you really, really
do know the basics and you've been doing it a long time. I
have an Ultra Advanced Guide that you'll see a link to on my
home page that a lot of people get to a whole other level of
depth.
So that would be the short version of the story, Bob.
Bob: Very good. Thanks so much for your time, Perry. I
really appreciate it.
Perry: Well, thank you!
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Paul Myers
How to Create Highly Profitable Products with
"Piggy-backing"
Bob Serling: Today I'm talking with Paul Myers. Paul's
the publisher of one of my favorite ezines, TalkBiz News. His
unique take on marketing is quite different from the run-of-the-
mill stuff you find in most ezines, and it's personally made me
a lot of money that I wouldn't have seen without Paul's
innovative ideas, so I'm excited to be able to share Paul's
wisdom with you today. Welcome, Paul!
Paul Myers: Well, thank you, sir!
Bob: You're very welcome, and I really appreciate you
taking the time to do this. The question I have for you today is,
"What is your favorite marketing technique that's working
really well for you and your clients right now?"
Paul: Right at the moment, this really isn't one of my more
clever strategies, but it works really well, though, and I'm kind
of expecting that that's pretty much what you're looking for.
Bob: Absolutely.
Paul: For lack of a better word, I call it piggybacking.
That just means starting from someone else's beginnings, with
their permission, of course, where it's needed, so that you can
build things more quickly.
As you know, my experience is as a copywriter and a
consultant, and so I came up with a very simple formula to
enable me to use that experience, get other people's input, work
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