Be The “M.o.m.” In Your Market Full of Greedy Sharks
How to use M.O.M. marketing to tap into the “untouched” business and DOMINATE your market…
The First (and most overlooked) Rule of Marketing…
Some people will buy now, some will buy later, and some won’t buy at all.
That’s it. Simple, right?
You would think so. But the majority of businesses only market to the people who are ready to buy now. And when I say the majority, I mean more than 90%.
Statistically, less than 15% of your prospects are ready to buy now. Let’s think about this for a second…
If less than 15% of prospects are ready to buy now, and 90% of businesses are marketing only to that 15%… what about the other 85% of virtually “untouched” business?
That’s right, it’s untouched. And those who understand this “secret” can harness the power of direct response marketing and dominate their market. I’m going to show you how…
The 85% of “untouched” business – Divers & Skimmers
If you are diving straight to the sale with cold leads, then you are leaving A LOT of money on the table. Why? Because only the few people who are ready to buy now will buy. Remember that.
In every business, you have divers and you skimmers. Divers jump right in when they see something they like. Skimmers test the water first with their pinky toe, talk to their friends about what the temperature is like, then slowly enter the pool. It’s pretty obvious that most people are skimmers
If you sell only, your advertising costs will be MUCH higher and your sales will suffer, if they come at all. No matter what platform you’re using – online, social media, direct mail, networking (which, by the way, is not marketing and better not be your only source of customer acquisition), radio, etc.
You must set up systems in place to cater to the skimmers. And probably the best (and proven) system is called M.O.M…
Magnet→ Opt-in→ Monetize.
The MOM system is used by almost every company that is smart enough to use direct response marketing. The principle behind is that you GIVE before you ask – value first. In doing so, you will attract your ideal prospects, gain their trust, and convert them into lifelong clients with a high LTV (lifetime value).
STEP 1: MAGNET — Draw Them In With Mafia Offers…
“…make em an offer they can’t refuse.”
There’s a lot that goes into this first step. I’ll write another post that goes into the nitty gritty, but for now, I’ll give you the run-down version.
Your magnet is probably the most important part of this process. It’s what gets your prospects to step out of the crowd and say “I’m here. I’m interested in what you offer.” Which, if you think about it, is pure gold to any business.
And the only way this works is to give them.. “an offer they can’t refuse.”
To do this, you must offer something of great value. Something they would regularly pay for, except you give it to them 100% FREE.
All you ask for in exchange is their email address.
This could be any of the following:
- A Guide
- A Who’s Who Book (case studies of who does business with you)
- A Step-by-Step Blueprint
- An eBook
- A Gift Certificate/Discount Code
- Video Series
- Event tickets
- Webinar Registration
THE SECRET is that it is something your ideal prospects would want. For example, a fertility center could offer something like this:
“Fill out the form below to receive a FREE eBook: 10 Stories of Hope and What You Can Learn From Them in Your Own Journey to Starting a Family”
A wedding planner could offer this:
“Uncover How To Have The Perfect Stress-Free Wedding: A step-by-step blueprint for planning the wedding of your dreams.”
By offering something like this, you will magnetically attract the prospects who are wanting to do business in your industry. Think about it…
If you’re about to get married and you have to plan a wedding, wouldn’t you want a step-by-step blueprint for planning the wedding of your dreams?…for free?….you bet ya.
There are 3 UNBREAKABLE rules when creating your magnet. Break them, and the entire system falls apart:
#1: It has to be something your ideal prospects would regularly pay money for. It has to release dopamine in their brain when they see it. Meaning it has to be something that would add real value to their life and something they would actually give you money for; but since it’s free, they absolutely can’t resist it.
#2: It has to provide enough value so your prospect begins to develop trust with you BUT it cannot have too much info or else 1) there would be no reason for them to continue learning from you and 2) they would be completely overwhelmed and will run away from the topic altogether.
#3: It focuses on only one aspect of what they need.
STEP 2: OPT-IN — Nurture, add more value, and win their trust.
Now that you’ve successfully identified your ideal prospects AND given them something of value, you have to nurture them in order to win their complete trust and get them to do business with you…and buy from you over and over again.
Most companies passively sit around and wait for their leads to convert into a sale. It’s a bad option. They focus on lead generating only and don’t give any attention to turning those valuable warm leads into a sale. This is where most companies lose money and fail at the MOM strategy.
Your leads are like first dates. 99.9% of people aren’t ready to get married on the first date. With any type of lead — Facebook, Google Ad words, your website, a radio ad — they just met you, and the majority are not ready to buy right away. Some will buy right away… but remember, the gold mine is in the skimmers. That’s where no one in your market is going. That’s where you, my friend, will dominate.
These uncovered leads have already identified themselves as interested in what you have to offer. They are no longer cold leads, as they’ve received at least one thing of value from you.
Now, if you give them even MORE value and show them you care, they will develop a trust with you that can convert into huge profits.
This is done through many different mediums. But I will tell you about 3 of best strategies today:
#1: Email Marketing
Email marketing is still one of the best ways to nurture your leads. You can take a prospect by the hand and guide him all the way to the sale and beyond. BUT, only if you do it right.
Many businesses think email marketing is easy, that they don’t need to put as much thought, time, or planning into it as they do with any of their other campaigns. Then these people complain about their poor open rates, declining click-throughs, and defaulted results. If you want better results, you have to consider the WHOLE picture. And you have to invest in making your emails better.
For example, one key disadvantage of email is that there are a lot more than there are pieces of mail being delivered to their regular mailbox. That means a lot more competition for eyeballs. So you don’t want to be sloppy about what you are sending. Rather than firing off an email in ten minutes and blasting it out to your entire list without much thought, take the time to establish a plan with response or conversion goals so you know exactly what you want your audience to do before you ever write your email. And make sure you’ve included the core elements needed in each email you send.
Here are a few to consider:
– CONSISTENCY. Once you start sending emails, you should deliver them consistently week in, week out. This is key in developing trust.
– LOOK AT THE WHOLE PICTURE. Where did they come from? (opt-in); What are they expecting?; And where do you want them to go? (blogs, landing pages, video → sale)
– ADD MORE VALUE. Now that you’ve given them some value you with your MAGNET, if you give them even MORE free stuff, this trust you’ve won so far will grow exponentially.
– SPLIT TEST. Test everything. Your subject lines, layout, email length, time sent, c.t.a., and so on.
There is no free pass to the front of the line with email marketing. If you want your emails to be the first thing your customers want to open, you have to invest time and resources in making them worthy.
If you know how to use Facebook correctly, it can be one of the most powerful weapons in your artillery. Here are a few ways to wield it:
CELEBRITY POSITIONING. People trust celebrities. It’s a cold hard, proven fact. And today, it is easier than ever to become a celebrity. If you are a small business, you can position yourself as the face of your business. People trust people more than they trust brands—no matter what your marketing 101 textbooks might say. And once your customers associate you with your business, and they are getting free, valuable content from you, they will trust you 1000x more than a business that promises them “world-class customer service.”
REFERRALS. When people interact with you, their social networks see it. This is one of the most powerful things about direct response social media. Referrals are built in.
CONDITION THEM TO RESPOND. By developing an engaging audience, you are condition people to respond to you so that when you ask for the sale they’ll say yes. Lose them with irrelevant content or a too heavy sales pitch too soon and you can lose them forever
INCREASE YOUR REACH. The more likes, comments, and shares you get, the higher your engagement level is and the more Facebook will show your posts to your network for free. But remember, likes, comments, and shares ONLY MATTER if you have the right direct response offers in place to monetize it (e.g. mafia offers, email marketing, direct mail, etc). Don’t get caught up in the fluff most social media marketers want you to believe so that you pay them more money to do absolutely nothing and get you absolutely ZERO ROI.
Blogging is a strategic way to engage your audience, build your authority in their eyes, and convert them into sales. But most businesses approach it as if it were their journal — writing about whatever haphazard thought comes to mind. This is how nearly ALL businesses fail at blogging.
It HAS to be a planned and methodical approach. If not, it’s a complete waste of time.
A blog is the core foundation of an effective direct response online marketing strategy. To turn marketing into revenue, engage your audience in content that is useful before you start to sell.
Use your content to build trust, bring attention to a problem, agitate the problem, and then sell your solution.
If it is done correctly, a blog can help you accomplish the following:
ESTABLISH TRUST AND AUTHORITY. Your goal with blogging should be to become THE expert, authority, and leader in your marketplace. You want to create a channel of one — speaking directly to your prospect. You do this by providing valuable answers to questions and doubts people have when doing business in your industry.
IDENTIFY QUALITY LEADS. Blog content with click campaigns is an inexpensive way to identify qualified leads (leads from your MAGNET). Once these leads visit one of your blog posts, you can then easily retarget them or get them to opt-in for your mailing list or blog.
LEAD QUALIFIED LEADS TO THE SALE. You can use your blog to bring attention to a problem you solve with your product or service. You then agitate the problem, making the need for a solution even more prevalent, and then provide the solution. This has to be planned out, however. You need to know exactly what your end goal is, how much agitating you have to do, and how you’re going to lead your prospect by the hand to the solution.
STEP 3: MONETIZE — The easiest step.
If you’ve done steps 1 and 2 properly, your prospect will not only be ready to purchase from you, he will be eager to purchase from you.
He already knows you can provide him with a ton of value and he trusts you 1000x more than your competition who is only trying to get him to “BUY NOW – Huge Sale, Today Only.”
You’re not even playing the same game as your competition anymore!
However, there are two main rules you must follow in order for this process to have any effect:
#1: TIMING. Only ask for the sale AFTER you have provided real value, established your authority, agitated the problem, and proven you have a solution.
#2: URGENCY. Beyond the thing you want your target market to do, give them a deadline and an added incentive to do so. Creating a sense of urgency is an absolute MUST for driving your audience to action. It is so valuable that if you don’t use it, you might as well light your money on fire and watch it burn.
This is true, value-first marketing. You are gaining valuable trust by giving before you ask. By doing so, you will create more than just brand loyalty, you will create connection and a trust with your customers that means more than just “liking” your brand because you have cool commercials.
“In this hyper-competitive era, you don’t break through the clutter by shouting the loudest, you get noticed by being truly and inherently useful.” — Jay Baer – Why Smart Marketing Is About Help Not Hype
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