Establish your credibility instantly.

Have you ever met a new prospect who asked you “how are the market?” How do you answer? Great!! I am having the best year ever? What do you say?

When you answer this way, you don’t gain credibility. You don’t sound very believable. You sound weak.

Here is a way to gain credibility in about 40 words or less. Memorize 5 facts about your market place.

During a recent class, I demonstrated this point by making up (completely) five facts about the local market place. The audience was wowed that in the short time I had been there I knew and had committed to memory data about their local market.

I hadn’t memorized anything. I made up all the data. I gained credibility instantly, even though the data was a complete fabrication.

Clients using this method report that people’s demeanor is shifted in the correct direction. You become an expert. And you do it quickly.

Your MLS should have a statistics function that will allow you to quickly gather facts that you can use. Give yourself a reminder on your calendar for every Monday morning before your prospecting time to get the data, record it on a 3x5 card and carry with you. Always.

Want to know what are some of the possibilities are for data to commit to memory, write a comment at the bottom of this posting and I will tell you.

To your continued success.

Reg Gupton

Know what to say when you meet with a prospect.

I have learned recently that most personal service sales people don’t know what to say when they meet a prospect whether socially or at a networking event.

We have worked recently on a system to use when speaking with new people. I will discuss one of the attributes of the system here and others in future postings.

The first element of the system I want to discuss is the F.O.R.D. concept. Some of us, that would be me, have little difficulty talking with others. My problem is that I tend to talk too much. If you know me you know that is true.

FORD is a system for asking questions of a person that you just met. It stands for Family, Occupation, Recreation, Dreams. All you need is a couple of questions in each category to engage another person in a conversation for a very long time. You should commit these questions to memory and practice them in a safe setting. Practice makes permanent, not perfect.

Another tip I use in conversation follows: When someone uses an adjective or adverb in a sentence (these are modifiers) ask (politely) what they mean. For example when someone says that they want to purchase soon. You might ask, “what does soon mean to you”? Or when someone says “I want a large yard” You might ask, “what is a large yard to you.”?

In a class recently, I asked a number of Realtors from the western slope of Colorado, what was large parcel to them. The parcels ranged from 1 acre to 640 acres. For me, a large yard means anything that I can not cut with a weed eater, (on the short cord).

What are the conversation openers or extenders do you use? Let me know.

To your continued success,

Reg Gupton

Do you know where your next transaction is coming from?

A Realtor friend routinely/systematically sends emails to his prospect/client list periodically. He searches his local MLS for opportunities, writes up a summary of the value he sees and sends it out.

He recently searched the MLS for bank-owned/foreclosed properties, finding about a dozen. That e mail generated a few people who might be interested. No sales, yet.

Upon receiving his email, I replied asking how the leads that he rec’d from this system were doing. Here is his reply:

Up to 3 sales loosely tied to my monitoring of this market. Two contracts that didn’t close (1^st ½ of 1031 exchange fell thru out of state). Three offers that didn’t result in contracts.

Up to a dozen prospects walking around the pool, sizing it up from different angles, trying to decide if they want to jump in.

I replied that he should embrace this philosophy. SW, SW, SW, N. He did not know that this meant. Do you?

“Nope,” was his answer. So here it is. Some will, Some won’t, So what, NEXT. The emotional power is in the word NEXT. This means that you believe/know that there will be a next transaction. Do you know where

Most folks that are in the personal services sales business do not know that there will ever be a next. They have no proven lead generation system whether marketing nor prospecting. Watch for a future posting on marketing vs. prospecting.

Do you have a lead generation system?? What is it? Let me know. I will write it up.

Do you know that there is a transaction coming to you? How do you know that?

Tell us how you know.

To your continued success,

Reg Gupton

How to design a profitable direct marketing strategy

An important element of most profitable marketing systems can be direct mail. In many businesses, it has the highest return on investment (ROI) of all the marketing dollars spent. If you have repeat purchases, direct mail is a powerful way to reach existing (and new) customers

1. Select a narrow target audience.

Hopefully your electronic database is segmented so that you can send a card to just a part of the entire list.

I receive cards (and more expensive direct mail pieces) that make absolutely no sense to or for me. The other day I received a very expensive four color, glossy 11X17 piece for spreaders and sprayers. I live in a condo and would not ever need a product like this. No lawn to take care of.

No wonder the rate of return on cold, one time direct mail is low and dropping. Target, target and target again.

2. Decide the frequency of your campaign

Be aware that research tells us that we need to send about 12-18 messages to a specific target audience before they even notice you. Make sure that you can keep up the campaign without any sales for months and months. Remember, send to the same target audience. Don't skip around.

Results that you receive in the first few months are low hanging fruit. Almost any contact with these individuals would have generated a sale. The real power comes after many, many contacts. The momentum builds and builds over time.

3. Select your offer

Your offer should be targeted to your audience and no one else. You can however, achieve top of mind awareness (TOMA) with cards. When your product or service comes to mind, you are the first or second person they think of. That is a great spot to be in.

4. Select a card vendor.

I have been totally satisfied with the prices and services of Expresscopy.com. As have a large number of my coaching and consulting clients.

Visit them at www.expresscopy.com/partner/reg_gupton. Learn what they do. Can you imagine about $40.00 per 100 cards, printed, addressed, postage and mailing? You will be pleased, especially if you can export your address file. Most software programs make that very, very easy these days.

5. Learn what your competition is doing with direct mail

Find out what your competition is doing with direct mail. Nothing I bet. Visit their web site or store and sign up for their newsletter, or catalog. Understanding the offers of the competition will put you at a distinct advantage.

6. Make it abundantly clear how you want people to respond.

Call, e-mail, fax or bring the card by your place of business to redeem, order the free report. Don't make it confusing.

If your target audience is spread about the country, make sure that you have a toll free number and e mail. Your response rate will increase dramatically. These days they are surprisingly inexpensive.

7. Decide how you will measure success

What are you after? Sales, entry in a drawing, or order a catalog? Just make sure that you and the recipient are clear on what is expected and you measure the responses you receive.

8. Don't quit

One of the actions that I see most often with direct mail is quitting after one or two mail pieces. Realize that embarking on a new direct mail marketing campaign is extremely painful in the beginning. This is true especially if you have not done this kind of marketing before. Plan your campaign. Plan for a year in advance. Get the schedule on your calendar. And follow it.

9. Realize that you only have a few seconds with the mind of the reader

Your offer or request should be plainly visible and clear to the reader. It is important to understand that you only have 4-8 seconds with their brain. They will decide if what you have to say is what they want to hear. Today. Next month your offer might be in alignment with their need. It was not last month and it is now.

10. Test you offer on a small segment of your list.

If your list is large, test the offer on a part of it. If the ROI is not what you need, re-think your plan, graphic, and offer. You should see sales (if that is your goal) that makes direct mail a profit center for you. Don't lose money on your direct mail marketing.

Reg Gupton

Reg Gupton's Top 10 Database buying tips to make the job easier

What follows is a Top 10 list of issues to consider when buying database software.

1. Ask friends what they use and how they use the database software that they use.

Surely one of your friends uses relational databases. They will be able to tell you what works and what does not with the package that they use.

2. Do your own due diligence on the features that you need.

After receiving suggestions on several packages from your friends, get on the web; use Google to search for the software

3. Purchase a Relational Database.

A Relational Database simply put is a lot of data like name, address, city, state, zip, phone number, e mail addresses etc that is searchable in too many different ways to list here. The power comes in allowing you to find any single record (read person) or group of records (group of persons) quickly and communicate with them in numerous ways. For example you can search for past customers that live in Colorado Springs. This search might be helpful if you are going to be in the city and wish to visit your existing customers.

4. Hire a coach/consultant/trainer to teach you how to most effectively use the software you acquire.

Your time is too valuable to noodle around in a database program trying to figure out how to perform the basic tasks that you wish to accomplish. An hour or two of a skilled consultant for the software will save you tons of time and get you productive in hours not days.

5. Make sure that the program will allow you to setup and implement marketing campaigns to both individuals and groups.

Some programs will allow you to send communications (e-mails, postcards, and letters) to individuals but you need to send each one individually. The better programs allow you to send all the necessary letters (for example) with a single mouse click (or two).

The program that I use sorts through all the letter and/or emails that are to be sent off into the future and lets you know how many are scheduled to go out today.

This should be done in the main program without add-ons or additional pieces of software.

6. Think about the expenditure as an investment and not a cost.

Investing in database software and building the list of names is truly like buying a printer or other piece of software or a high-speed connection to the Internet.

You will be able to conduct business in ways you never imagined prior to owning and building your personal database.

7. Assure that you can send emails directly from the database software that you acquire.

Some database packages force you to use intermediary steps or use the e-mail client that came with the software. Many are not supported nor are they in the mainstream.

8. Make sure that the software will allow you to mail-merge a group of people receiving different letters or e-mails.

Mail merge allows the software to look up the name, address, etc and the letter or e-mail put the two together and send them. Other pieces of software force you to do this manually. Not a good use of your time.

9. Realize that in the beginning there is a huge investment of time entering the data from your paper system.

Be aware that it could take you only 60-120 seconds to enter each person's contact information. And also be aware that you will only have to do this one time. Ever. Then you can use your personalized database as a Rolodex, phone list, birthday card reminder system and to carry out marketing campaigns just to mention a few uses. Once the contact information is entered, it is there forever.

10. Realize that once the database is built, its effective use will feed you and your business forever.

After you enter all the people that you know in the world, you can begin to make them well crafted offers for your goods and services.

No more hand writing (unless you chose), no more looking through stacks of business cards for a number to call.

All you have to do is enter the name and up pops their contact information to use in a money producing way.

Reg Gupton's Top 10 list of database mistakes

You don't need to. I have made them all and can help you learn from my mistakes and massively explode your business in a very short time if you are willing to get out of judgement and into curiosity.

1. Believing that your most profitable source of new customers is from print media ads.

2. Believing that your marketing energy and money should be spent predominately trying to attract new customers.

3. Believing that marketing to your existing customers is expensive, time consuming and not very profitable.

4. Not capturing the names, addresses and email addresses of your existing customers.

5. Not offering your existing customers incentives to stay with you.

6. Buying software that requires a Ph.D. in computer science to operate.

7. Buying software that will not allow you to create and run marketing campaigns easily and automatically.

8. Buying software that will not allow you to send e mails directly from inside the program.

9. Not investing in training or coaching on the use of the software that you buy.

10. Believing that contacting your prospects and past buyers 2-3 times per year is enough.

Reg Gupton

Reg Gupton's Top 10 Database Marketing Tips

Your wealth and success is in your database. Don't have one?? Stop back often to learn about this most powerful of all marketing strategies.

1. Start small.

Don't wait until you have your database completely assembled. It will never be totally finished. You will be constantly adding, deleting and changing information in it. You will get measurable benefit by starting now.

2. Build your list every chance you get.

Whenever you get the name (and contact information) of someone that you can do business with or more importantly, who can send you business, put them in your database. You can never have too many names.

3. Send messages (letters, cards, e-mails, and/or catalogs) until they ask you to stop.

Remember you are sending information of value to your list. The operative concept is "of value" The value can be notices of new products or services, birthday cards, special pricing.

4. Mix message content.

Send special offers, community service announcements, holiday greetings, and other items of value to them.

5. Send a minimum of 12 times per year (24 or more is better)
.

We each get thousands of solicited and unsolicited marketing messages every day. You need to cut thru the clutter to be noticed. You will be bored by the process of sending them before they even see your messages. Don't give up. Keep touching your client/customer base.

6. Mix the media.

Send messages delivered thru different channels. As mentioned above, send letter cards, emails, and/or catalogs. Keep changing the method of contact until you discover what works the best and provides the greatest return on your investment.

7. Buy a relational database and take classes to learn how to use it.

It is critical that your software will allow you to do marketing campaigns to a specific part or combination of parts of your database. This means that you can attach a plan made up of the items mentioned above to an individual or group of individuals easily. Most software will not allow you to do this.

8. Focus on your existing and past customers.

It is much, much more expensive (as much as 5 times more) to do business with new prospects than with current customers (who know, like, and trust you). Go here first.

It amazes me that professional service providers (that would be most of us) forget or are fearful about working with those that know, love and trust us. Why is that??

9. Make an appointment with yourself for a minimum of 1 hour per week to work on your database marketing program.

Better yet, one hour per day. It is too easy to get caught up in the crush of your day-to-day activities and forget this critical program. Set an inviolate appointment on your calendar to work moving your database marketing program ahead. Don't allow anyone to get in that time block. No one!!

10. Talk with your friends (or others) who are experts at database marketing.

Remember that you are an expert at what you do. It is unlikely that you are an expert at database marketing too. Find an adviser or consultant with years of experience is this rapidly evolving field. I can think of someone (that would be me).

Reg Gupton