The Packaged Elevator Speech
• If you want to get more prospects to meet with you, you need to hook them in with a good elevator speech.
• Most entrepreneurs do not have a good elevator speech. It is either boring or confusing, and rarely are they consistent in using it.
• A packaged elevator speech is short, interesting, and designed to get prospects to ask more questions.
• Using a brand name for your BIG Idea
makes it much easier for people to understand
• A brand name turns your intangible service
into something more tangible
• Keep your brand name to a maximum of four words. Don't try to come up with the perfect name at first Develop and use a working name first.
• In the typical sales situation, the customer holds all of the power because they know that your product/service is readily available in great abundance.
• If you create a line-up, you will equalize the power imbalance. You create a line-up by limiting the availability of your product and service, and telling them that your advanced gourmet program is not for everyone. This strategy is based on the fact that people want things more if they worry they might not be able to get it.
• In today's marketplace, prospects are overwhelmed by a daily stream of sales message. As a result, they have retreated into a bunker. That makes it hard for you to talk to prospects in the traditional way.
• You need to provide Free Value to attract prospects out of their bunker. This can be anything including product samples, consulting time, creative solutions, and technical support. The higher the value you provide, the more prospects you will attract.
• You get to decide which prospects get the free value.
BIG Idea Marketing Strategy #8
Get more ideal customers
• Ideal customers are the kinds of people you love to work with. Unfortunately, most entrepreneurs don't have enough ideal customers (less than 20%).
• One primary objective of BIG Idea marketing is to attract more ideal customers (You will attract more ideal customers if you have a BIG Idea).
• Use one of your existing ideal customers as the model for the new customers you want. Develop a profile of your ideal customer characteristics. Your long-term goal is to work only with ideal customers.
For more strategies go to: BishopBigIdeas.com
• Divide your customers in two distinct kinds: fast food and gourmet.
• The fast food customers just want to do a transaction with you (usually for the lowest price). The gourmet customers want to have a long-term relationship with you (price is not an issue).
• Most entrepreneurs have too many fast food customers, and neglect the gourmet customers. To get more gourmet customers, you need to develop a gourmet BIG Idea for them.
• Most companies have too many types of customers. Too many types of customers leads to complexity, lack of focus, and fragmentation of your message.
• We recommend you build your business around one primary type of customer. Using this model, you have one customer type and a potentially unlimited number of products and services.
• Focusing on one customer type simplifies your business, gives you greater focus, and allows you to communicate a single, unified message.
The Relationship-First Formula
To stand out from your competition, attract the attention of more great prospects, and make more money, you need to come up with a BIG Idea, something new, better and different. But as we have seen, a product-first mindset can stop you from coming up with BIG Ideas because you can't think outside your product/service category. However, another mindset, called The Relationship-First Formula, enables you to come up with lots of BIG Ideas.
When you use the relationship-first model, you don't start your thinking with your product or service. You start your thinking with the intention of helping. You do not approach your prospects and customers with any particular product or service in mind. You approach them instead with the intention of helping them solve their problems and achieve their goals, in whatever way is necessary. In this way, your intention to help is more important than your desire to sell them something in particular. Your primary objective is simply to help them in what ever way you can.
This relationship-first mindset helps you develop BIG Ideas because you are no longer attached to any particular product, service, strategy, or technique. You are always open to new ways to help, even if you currently do not have the capabilities to provide that help. By having this open mind, you no longer limit yourself to what you currently provide, or what your industry provides. Anything is possible.
That is how Apple achieved success. Using a relationship-first model, they broke away from computer-only thinking. They no longer saw themselves as a "computer" company. They were a relationship-first "helping" company. As a result, they gave themselves permission to provide products and services that are not computers. That's how they came up with ideas for iTunes, the iPod, the iPhone, and the iPad, while other computer companies never saw the opportunity. It is likely that Apple will continue to innovate and develop even more non-computer products and services. However, the irony is, by breaking away from computer-first thinking, and developing other products and services, they also sold more computers.
That's why we recommend you adopt this relationship-first model. It will open up your mind to an endless stream of possible BIG Ideas. These ideas will help you attract the attention of potential prospects. Secondly, these ideas will help you stand out from your competition. And thirdly, these ideas will help you make more money, and ironically, sell more of your original products.