Stick Like Glue Radio #202
On this special episode of Stick Like Glue Radio, I interview serial entrepreneur and master marketer, John Dwyer. In this power packed interview, John shares some amazing strategies on how to get your customers eyes off of price, and a fun story involving Jerry Seinfeld! Don’t miss this powerful show!
Main Questions Asked:
- What are Wow Factor marketing techniques?
- Do business owners think they are not making sales because of price?
- Talk about working with Jerry Seinfeld.
Key Lessons Learned:
Wow Factor Marketing Techniques
- This is all about taking your clients and prospects eyes off the price.
- You are nuts if you set up a business based on price, as big box will beat you on price every time!
1. Identify your most profitable customer
- Many people identify their target audience, but this needs to be drilled down further.
2. Create a WOW factor
- McDonald’s Happy Meal is a great example of a company that has been doing this for decades.
- Unless you have an organic wow factor such as the iPhone or Rubik’s Cube, then you need to create an artificial wow factor.
3. Use a problem/solution scenario in all marketing
- Nurofen/Advil is good at this.
4. Turn your website from an information center into a sales juggernaut
- Too many people have websites without direct response marketing.
- Welcome, problem/solution, and video testimonials.
- No one goes to the testimonial page. If you have a great testimonial, put it on your home page.
5. Repetitive Trade
- You never collect one Happy Meal toy at McDonald’s it’s always a series of 4 or more.
- Stimulate loyalty by creating rewards systems so you continue to benefit from repetitive trade
Keep Your Eyes off the Price
- Most small business owners gravitate toward the price discount game because it’s easy and they don’t fully understand marketing.
- People often think of marketing as an expense to the business or a one-time event.
- The minute you stop marketing you are invisible. Marketing is a perpetual thing.
Working With Jerry Seinfeld
- The program to take everyone’s eyes off the price was “get a home loan and get a free holiday.”
- Within one month they doubled their home loans, and within 12 months had tripled them. This is billions of dollars.
- This is the only bank in the world who never advertised an interest rate on their home loan for a decade.
- Jerry Seinfeld came on board as the spokesman in 2011.
- The market share tripled when Jerry fronted the bank’s advertising.
How to Wow Them!
- In order to wow people, you have to take focus off the price and make it more experiential.
Wow My Business
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