Marketing Strategies with Mike Mastro

“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