- Winny Wong
- Aug 7, 2023
- 3 min read
“Luck is when preparation meets opportunity” - Seneca
Started off career as a personal trainer.
Expand Your Thinking and Beliefs - to “market" your business affordably and effectively
Raise Your Standards - manage your time - 80/20 - Work ON not IN your business
Knowledge is "potential” Power - learn first, then earn by “doing”
Motivation Doesn’t Last - Use step-by-step moethods to keep moving forward
Take Notes for any “aha” moments!
"Let’s get your business working for YOU, instead of you working for your business.”
80/20 Rule
20% of what you do every day is generating 80% of your total annual revenue
You’re only doing a few things daily that meaks you most of your money.
What’s Your Biggest Challenge?
Top Answers
I don’t have enough leads
“Because its purpose is to create a customer, the business exterprise has two - and only these two - basic functions: marketing and innovation.” "Marketing and innovation produce results; all the rest are costs.” - Peter F. Drucker
Increase the # of clients * Increase the average dollars per sale * increase the repurchase frequency = Total
Example:
1000 * 100 * 2 = $200,000
1100 * 110 * 2.2 = $266,200 (increase each category by 10%)
Categories:
Foundations
Trust, Expertise, Educations
Policies, Procedures
Marketing Dominating position
Stragetcy
Profits
Cut costs, bundling
upsell and cross sell
Increase legevity of the buying reslationship
increase price
Transactions
sales team
appointments
additional products and services
Increase frequency of purchases
downsell
reactive former customers
Conversions
Compelling offer
scripts
initial close rates
follow-up close rates
Drip-campaign
Leads
referral systems
jVs and alliances
publicity & PR
direct mail
Advertising
Digital marketing
Mike Mastro Background 1987 - opened first personal trainign studio in NJ 1989 - owned personal training company influenced hundres of new trainers 1994 - opened tanning salon 1995 - sold first course for new personal trainers (mailbod money) influenced thousands 2002 - started tile tratment and paver sealing company 2018 - run online firness memership (earn while sleeping) 2-step Marketing Strategy Ran Ad 800# pre-recorded message Offered Free report - sold $199 course First Mistake Not making every customer feel important, respected and appreciated
if you go out of your way with your staff, make sure they do what you do - customers want to feel important, repsected, and appreciated.
Next Mistake Not testing What are some things you can test?
Headline
Sub-headline
Body Copy
Offer
Media
Note: only test 1 variable at a time
The Buyers Journey
Future buyers - benefits of ownership - why should I buy?
Soon-to-buy buyers - objections to ownership - why shouldn’t I buy?
Now buyers - vendor selection - who should I buy from?
Next Mistake Not understanding the importance of a headline
they can increase the response rate by up to 20 times!
Put music in your life —> Puts music in your life (sold 37% more) Next Mistake Not having a USP - unique selling proposition
how are you different?
USP is the foundation of the business. “We are the only ones who….” What is the advantage that you bring to the customer? Dominoes
fresh hot pizza delivered in 30 minutes or less or its free
Fedex
when it absolutely has to be there overnight, use Fedex
Lenscrafters
glasses in an hour
M&Ms
melts in your mouth, not in your hands
Next Mistake
Not having an overall…
Write 1 sentence for each:
1 year goal:
3 year goal:
5 year goal:
10 year goal:
Next Mistake
Not having a backend
What else do they need/want
Upsell
Cross sell
Downsell
Next Mistake
Not having an exit strategy
Invest Now:
in yourself
in your business
Then - real estate, stocks, etc.
You have to enter the conversation in the head of the customer. How would you improve your USP?
Faster
more convenient
lasts longer
Using direct responses and call to action/offers to gauge success of an ad.
at the very least - name and phone number
we offer discounts and offers to customers of our pharmacy - give name and phone number to be on that list
we would like to mail you something - to get address
give them value with responses, do not try to sell them something every time you contact them
Instead of discounts, what can you offer to a customer?
$10 off the entree
other is free bottle of wine and a free desert - gave a perceived value to $35
When you discount, it kills your bottom like, offer things of value.
Door hangers, business cards given for your neighbors.
Before you hire any pressure washer company to do your roof or house, send for this consumer awareness guide. 5 things you need to know before you pressure washer your roof.
Yoga - have and event - bring a friend event. Name, address, email, phone #. - Drip campaign.
You can buy a list in Fiverr
Nurturing a lead is like courting, give them more information.
How to buy/elicit emotions
scarcity
greed (personal trainers are making $$$, get a report on how they’re doing it)
sex
joy
happiness
love “It’s the study of competitors, it will help you in the following ways”
If there is not a differentiation from other business, then you need to find a way for you business to stand out against the competition
Mike Mastro
CEO - Business Marketing Academy
Business Strategist & Coach
Author/Speaker
mike@resultsmarketingtools.com
