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Believe it or not, all success in business comes down to this one formula. It doesn’t matter if you’re selling insurance, hamburgers or lawn care. It doesn’t matter if you’ve been in business for 30 years or you’re starting your business today. It doesn’t matter who you are, where you live or who your customers are. This same formula brings success to every endeavor, and ignoring this formula almost surely brings failure.
Big promises, huh?
Think of Occam’s Razor (also known as Ockham’s Razor) which simplified states that the simplest answer is often the correct answer. And so it is with THE Formula – there is no need for volumes of business advice when you have this simple formula and FOLLOW this formula to the letter.
Are you ready to know once and for all the true secret to business success? I’ll clue you in – I am not the first to write of this, nor will I be the last. Many others have written millions of words about it, sometimes taking an entire book to cover this simple piece of information:
THE Formula for Business Success:
Step 1: Create an Irresistible Offer
Step 2: Present this Irresistible Offer to the prospects who are hungry for it
Step 3: Sell to them again. And again. And again.
That’s it. To clarify, the irresistible offer is one that presents so much desired benefit for such a small perceived cost that prospects rush to purchase. Step 2 says to present this offer to the people who desire it. Don’t sell snow tires to Floridians, sell them to Northerners on the eve of the first winter snow storm.
And Step 3 says to hang onto those customers and sell to them time and time again. Why? Because they already know you, trust you, and like what you sell. It is far easier and far more profitable to sell to an existing customer than it is to acquire a new one.
So what does this mean in the world of Internet marketing? First, don’t sell something because you want to sell it. Instead, find out what your customers fervently desire and create an irresistible offer based on that.
Second, target your offer to those who are most interested. If you have a course on marketing for brick and mortar businesses, you might have to get it in front of 200 prospects to make one sale. But if it’s a course on marketing for chiropractors, you can double the price and still close 1 in 20 prospects because your offer is more tightly targeted to the exact people who want to buy it.
And third, treat your customers like royalty. Notice I didn’t say to treat them like family, because unfortunately we sometimes take our families for granted. NEVER take your customers for granted, and always share your very best insights, news and helpful tips with them so that when it is time for them to make another purchase, they don’t hesitate to purchase from you, even if you are merely the affiliate recommending someone else’s product.
Whatever you’re selling, this is the formula that will make you rich.
“But surely,” you wonder, “there must be exceptions?”
Not really. Let’s say you don’t sell anything outright, and instead you are a blogger or perhaps run a curation type of website. You still have an irresistible offer, and that is the information you are sharing on your website for free. If it is great information that is targeted to your niche, then your readers will be excited to read it and return time and time again to read it again. And surely you are monetizing the website, whether it’s through ads or affiliate products. So while your readers are returning to read, they are also sometimes clicking your ads or purchasing the products you promote.
And so it is with any online endeavor. “But I run a non-profit,” you say. Even non-profits follow this rule. The irresistible offer is the chance for the person making the donation of time or money to help a cause that is near and dear to their heart. The non-profit will be promoted only to those who have a keen interest in the cause. And if treated with care, respect and gratitude, those who donated once will likely donate again and again.
I’ll give you one more example of this formula working, this time in a non-business platform. You find the woman of your dreams, and you create an irresistible offer to convince her to marry you. Of course this offer would not work with most women, but it works with your beloved because you have caused her to fall in love with you (targeted market). And then you go on selling yourself to her for the rest of your life if you hope to have a happy marriage, and she does the same for you.
You can apply this to religion as well, and to getting your children to mind you, and even to training your pets. In fact, I can’t think of one human interaction where this formula won’t work, it’s that powerful.
But we are focused on your business today, and so here is my challenge to you: Take out a pen and paper and write down the 3 steps. Now write how you will specifically accomplish each of the three steps in your niche or your next marketing campaign. And then please drop me a line to tell me of your success, because if you do these 3 things, you will be successful indeed.