- January 19, 2018 -
So we all know that Kroger, Wallmart, CVS along with most retail stores rely on loss leaders.
I mean, think about it...when was the last time you ran to the grocery store for a dozen eggs or a half gallon of milk and that's all you left with?
No, no, no...if we dudes are doing the shopping and not our wives, we grab more stuff on our way out. Salami and good provolone, not the cheap stuff.
And oh my god, that's my favorite mustard!
...and that deli bread with the olive chunks? Gotta have me some of that!
Heck...I'm getting a cart!
Yep, the loss leader got us again 🙂
Obviously with a loss leader, the idea is to take a loss on a product or service in hopes that it'll lead to a more profitable sale.
Giving away a free Gillette razor makes sense since I'm going to need replacements...
Absolutely! If done the right way.
So in our wholesale property investment biz, I use loss leaders all the time.
People, I live in Pittsburgh! If we don't feel like we're getting a deal, we just suck it up and wait until it goes on sale LOL
I give away my time...a lot of it because I'm looking to the future.
First, to a decent commission I pay myself or my sales guys when (not if) a property closes.
And then potentially other deals with a buyer or a seller.
But here's the caveat...
I'm a good salesman. I build long-term relationships, stay in touch via phone, text, autoresponders...whatever it takes...and I'm a very patient man.
If I knew I couldn't close enough sales to compensate for my time, gas, car repairs (most of my properties are not located in the "nice" sections of Pittsburgh, let me tell ya) I'd be out of business.
Now, with Barron Marketing...it's a little different scenario.
Our high-end service is CyberFunnels. We have a team of 12 who fulfill on those projects. It takes 60 to 90 days to implement...so it's not a $999 service.
+ We offer 15-minute free consults that two sales reps take. They use a very refined script and have been trained. After the call, they submit a form based on whether the lead is a good prospect...and yes, automation occurs.
They are not paid for the consult -- but they will get a very nice commission if the lead becomes a customer.
+ To move forward, a vetted prospect must shell out 97 bucks to attend a 90-minute Discovery session with one of our business coaches where the prospect is "wowed" to the extreme.
Oh, by the way...the sales rep also attends the discovery (on his own time.)
Guess what our close rate is after two follow-up sessions to present the plan of action and then the proposal? 90% on a $35-50K service.
Understand...it's taken Cheryl and her team almost two years perfecting the process.
And part of it depends on using a 3rd party appointment scheduler...
So if you're using a 3rd party scheduling system currently in your day to day process (or you're thinking of starting)...I want to invite you to a webinar that Cheryl is co-hosting with ScheduleOnce on Wednesday, January 24th at 12pm EST.
(UPDATE: The registration date has passed - if we can access a replay, we will post it here.)
ScheduleOnce is what we recommend, but this is not a push for you to buy it.
You'll definitely get some incredible ideas for using calendars and automation in your marketing...especially if you're already using a scheduling platform.
This webinar is specifically on how to use online scheduling for lead generation in the health and wellness industry - but I guarantee you'll pick up tips no matter what field you're in.
Register here to attend this January 24th webinar. It'll only last 30 minutes.
Talk soon,
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