I am going to take you back… about 5 months or so.
It was spring and I was in Phoenix, Arizona. Big Mouth Marketing was doing okay. We were getting 2-3 leads per week. Gary (the CEO) and I were going to several sales meetings every month.
Let’s fast forward to today. Guess how many leads we’re getting every week now?
Nope, not 10, not 15, not even 30. We got a grand total of 156 leads!
Let me repeat that: one hundred and fifty six leads.
Have a look at this screen shot of our CRM:
I filtered that for the last 9 days (starting 21 Aug) including the weekend. Those are all actionable leads. Leads we can call, leads we email, leads who NEED our help and want our help.
Imagine you have this kind of consistency pouring into your business? You’d fall flat on your back. As are we.
We have only called about 30 of those leads, because we simply can’t keep up. In fact, as I write this article I keep hearing my outlook ‘beep’ with a new lead.
We are scrambling! We’ve interviewed more than 7 call centers to help us with all the leads. I have to admit that it is a very classy, lovely, wonderful, first world problem to have (too many adjectives?).
So how did we do it? How did we go from 5 leads per week to 156?
We started using the one forgotten ‘secret’ that all business owners take for granted. But perhaps you haven’t heard of it.
Every good company that uses this correctly takes over their local, and perhaps national, market.
The problem in explaining this little trick is that every single business is different and requires something unique.
In the case of Big Mouth Marketing, we were selling BIG marketing campaigns. Customers often put down tens of thousands of dollars up front to have us run their online and offline campaigns.
Trust me, I never used to take on cases this big. It is our CEO, Gary Musler, who’s been doing this since 1999,and was featured in Newsweek, who flinches at anything below $20k.
But this meant we didn’t have to take on many clients. However, I wanted to try something a little different.
And that is when we decided to implement the ‘tripwire’. That little, awesome thing that every single business person has forgotten about. I know many of the top marketers use it, but very few small businesses use it.
It is that really affordable product, that is in reach of everyone, whether they are rich or poor. And the idea behind it is simple.
A customer, no matter how small, is 10-20 times more likely to buy from you than your best prospect. So even if someone gives you just $1, the dynamic of the relationship has changed. You do not need to ‘sell’ them on the idea that they should do business with you.
In our strategy we didn’t ask for one dollar though, we didn’t ask for two dollars. We asked for $147 per month for one of our services. A service which used to cost $797 as an add-on package to something else that was $5,000 per month.
And what happened? Well, we ran this little Facebook campaign, optimized the ad, and got a stunningly low cost per click.
And we get over 150 clicks per day.
The result? We get tons of leads and increased the number of customers we get 9 fold.
Granted, these customers aren’t the $10k customers we are used to. However, we still make money, everyone can afford us, and our small service kicks butt.
We can upsell websites, social postings, social wifi, blogging, and a bunch of other business changing services.
Okay, so how can you do this for your business?
It is pretty simple actually. Each industry has its own little thing.
Let’s say, for example, you are a dentist.
You should run a campaign on Facebook in your local area selling teeth whitening for $5-$10. Make it much MUCH lower than what retailers charge.
Then, on the very next page, offer them a free appointment or checkup. Do this for 2 months and your practice will be booming.
But what if you are a chiropractor? Or a naturopath?
It doesn’t matter. Find the little thing in your industry that everyone wants. For great ideas go to http://www.alibaba.com/.
You can get stuff straight from China at a super low cost.
Below are a few examples of some of the hardest industries to find tripwires for.
In some of these obviously you can’t sell something for $5. If you are a homebuilder it would be stupid to assume you can upsell someone over $100k just because they bought an eBook.
However, perhaps you could sell garage doors, solar panels, or simple kitchen renovations?
Whatever the cost of your product or service, find something related that is way cheaper. Not only will it help you bottom line, but your competition is definitely NOT doing this.
And if you do it right, you will find yourself in the same situation we’re in. Too many leads, too little time.
So what industry are you in and what is your tripwire? Leave a comment in the comment section below…
Go on… do it. Leave a comment!