I’m going to show you a simple technique for cutting your ad spend. Or, you can use what I’ll show you to only pay for new customers after they buy from you – so you only spend money once you’ve made money.
You can also use this to acquire customers without it costing you anything at all – just a bit of time and ingenuity.
I’m also going to tell you how to get my Manual – How to Systematically and Consistently Attract First-Rate Customers – for free – and at the same time, how to support a good cause and maybe win $50,000.
First, the technique for cutting or eliminating what you spend to acquire a customer.
It’s called triangulation. Let’s look at how it works and how you can apply it.
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If I owned the wine store down the hill, I would want lots of people coming into my store.
But I don’t want just any people. I want customers who have money to spend on a nice bottle of wine. And customers who I can educate about why the wines at my store are better than what they can get at the local supermarket. And how to enjoy a good wine and so on.
And most of all, I don’t want to waste lots of money advertising when my ads will be seen mostly by people who will never come into my store. I’m happy to pay to get qualified people to come into my store, but I’d rather pay only when and if they actually do walk into the store and I have the chance to sell them something. And then I’d make sure to get their name and email address and permission to stay in touch with them forever at virtually zero cost. Sure beats advertising.
So how do you do that? Simple.
I would go next door to Steve, owner of the the suit store. Steve sells suits, shirts and upscale casual wear. Most of his customers can afford to buy a nice bottle of wine if they wanted to.
I’d say “Steve, I noticed you advertise every week in a couple of the local papers. What’s that costing you?”
“Oh, about $1,000,” Steve says.
“And what does the average customer spend with you?” I’d ask him.
“oh, probably about $350,” Steve might tell me.
“Hmm. If you could nudge that up to about $400, what would that do to your profit per sale?”
“Well, it might add as much as 10 – 30%, depending on what the buy. Hey, why you asking me all these questions?”
“Well. I have an idea. What if I were to give away a nice bottle of wine to every one of your customers who spent $400 or more? That would encourage many people to buy one more shirt or a couple more ties or whatever, knowing that right away they’ll get the extra money back in the form of a nice bottle of wine because as soon as they finish by you, they come on over to me with their receipt and I give them a bottle of wine?”
“Hmm. That sounds great! Now why would you do that?”
“Simple. Because whenever someone comes in and I give him a free bottle of wine, I’m also going to get his name and email address and permission to send them special offers from time to time. And I’m going to have a chance to educate him about the different wines we sell. And teach him to appreciate and enjoy them. And invite him back for a tasting the next week. So it makes sense for me to spend the money to give away a bottle of wine to someone who spends $400 on suits and clothing and then makes the effort to walk into my store. He’s likely to be a good customer.
“And even if I give him a $30 or $40 bottle of wine, that’s the retail value. It costs me less. And if I encourage him to buy another bottle while he’s there in the store, I could break even then and there. And when he gets an email from me next week and comes back for a taste of whatever we’re promoting next week, and buys that bottle, I’ve made profit.”
“And you – you have a incentive to encourage people to spend an extra $50 – and it costs you nothing! So it’s a win, win, win. You win, I win and the customer wins.”
That’s triangulation. It enables me to benefit from Steve’s advertising without having to advertise on my own. And it helps Steve bump up his average profit per sale. And it helps the customer get something extra for the same money. Everybody wins.
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These kinds of deals can be structured in any number of ways, including where you have Steve pay for all or part of the wholesale cost of your bottle of wine! Or where he includes you in his ad and you pay for part of the ad. Or pretty much any combination you can think of.
As the wine shop owner, I will now have a consistent flow of customers coming in to my wine shop, and it costs me nothing until they come through the door. And then I give them a reason to join my email list and it costs me almost nothing to advertise to them forever. While your competitors spend lots of money on advertising, you spend little or nothing. You only spend when a real live customer walks through the door.
This is a concept. It’s a way of thinking. How can you apply this concept to your business? The ways are limitless.
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While you’re thinking about that, let me share another example of triangulation. And this one will get you a free copy of my flagship product, the Manual – How to Systematically and Consistently Attract First Rate Customers.”
There’s a local big brother / big sister organization in my town that does a lot of good work. Pre-teens and teens are at a delicate stage. A loving extra someone from the outside can make the difference between a child taking a healthy or a destructive path.
This organization, called Hakshiva, is currently holding a fund-raising raffle where the grand prize is $50,000 cash. For every ticket you buy, you get a chance to win $50,000 cash. Buy ten tickets, you get ten chances.
Now, I want to help them sell more tickets. So I decided that I will give away a free copy of my Manual to anyone who buys seven tickets. The price of seven raffle tickets is a bit less than the regular price of my Manual. So it’s a good deal for you there. And your tickets are a tax deductible donation in the covered countries.
Now, why would I do that? Yes, I care about the organization. But there’s a business benefit for me, too.
Triangulation benefits all three parties:
— Hakshiva and the teens they help benefit from your donation.
— You get 7 chances to win $50,000 AND a simple powerful system for creating a flow of great clients for yourself. AND you get my help as you work through the Manual and post in my private Oasis Forums.
— And… me. I benefit as well. How?
When you sign up to get your free copy of the Manual, you’ll be starting a monthly membership in my Oasis Forums because that’s where I can help you use the ideas in the Manual to build a consistent flow of your ideal clients.
Your first month in the Oasis is free – included with the Manual.
I’m confident that once you’re there for a month you’ll want to continue your membership for a long time. At the beginning of your second month, you’ll be billed $47, monthly after that. As your business grows thanks to the Manual and the Oasis, you’ll want to stick around.
Should you want to cancel at any time, simply email me and we’ll cancel your subscription. And thereafter, there’s no commitment. You can cancel any time before your next payment.
This offer is only open until July 4th and I may not send any more reminders about it.
So please act on it now. Three simple steps:
1. Go to www.hakshiva.com/raffle and make a donation of $180. This will get you seven tickets. Seven chances to win $50,000. Important: Check at the bottom of the page to ensure your country is eligible. Mention “Dov Gordon” and they’ll forward your receipt to my office.
2. As soon as we get it, we’ll send you back a coupon code that will take 100% of the price off of the Manual when you go to purchase it.
3. To use the coupon and get your copy of the Manual go to http://DovGordon.net/morefun. Scroll to the bottom and choose the middle option. Click the green buy now button in the middle. You will not be billed anything until after your first month. Again, you can cancel any time.
Do you have any of your own ideas on triangulation? Please share them with us in a comment below.
Any questions? Leave a comment below or email me [email protected]
Dov Gordon
