Keeping It E.L.F. (Easy, Lucrative, and FUN!): How To Build A Great Business Where Everybody Wins with Tommy Mello and Joe Polish - I Love Marketing Episode #460
Sep 28, 2023
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Tommy Mello shares his journey from addiction to entrepreneurial success. Joe Polish discusses the power of sales letters and education-based marketing. They reveal the #1 reason people buy from Joe and how to create a business that is Easy, Lucrative, and Fun!
Sales is about building relationships and fostering repeat business, focusing on developing and selling a relationship rather than just completing a transaction.
Effective marketing is essential and undervalued, accounting for nearly 50% of the total cost of a product or service.
Utilizing direct response marketing and education-based marketing can build trust, establish credibility, and convert leads into customers.
To connect with busy individuals, anticipate their needs, provide value in advance, and invest time, attention, and effort into building strong relationships.
Deep dives
Sales is about building relationships
Sales is about building relationships and fostering repeat business. It takes the same effort to gain a new customer as it does to cultivate a lasting relationship with an existing one. When selling, it's important to focus on developing and selling a relationship rather than just completing a transaction. By understanding the lifetime value of a client, marketers can make informed decisions about how much they can afford to spend to acquire new customers.
Undervaluing the importance of marketing
One of the main reasons for marketing failures is the undervaluation of its importance. Many people underestimate the significance of effective marketing. Marketing costs account for nearly 50% of the total cost of a product or service. Proper marketing can significantly impact sales, and it is crucial to understand that being a good marketer and ensuring that people understand the value of what is being offered is far more important than just being good at what you do.
Direct response marketing and education-based marketing
The key to effective marketing is utilizing direct response marketing and education-based marketing. Instead of focusing solely on selling, it is essential to offer valuable information that engages the customer and motivates them to take action. By presenting information in a way that speaks directly to the customer's needs and concerns, and by providing education and useful insights, marketers can build trust and establish credibility, making it easier to convert leads into customers.
The value of anticipation and providing value in advance
One of the most effective ways to connect with busy and successful individuals is to anticipate their needs and provide value in advance. Instead of asking, 'How can I help you?', take the initiative to identify their desires and challenges, and start taking actions to solve their problems or meet their needs. By demonstrating your value and showing genuine interest in their success, you can build rapport and establish a foundation for a meaningful connection.
Investing in Relationships
Invest time, attention, money, effort, and energy into relationships. Even if you don't have money, you can still invest your other resources like time and effort. Research people, figure out what's important to them, and present value to them. Make sure your give is equal to or greater than what you want from others in order to develop strong relationships.
Understanding Hunters and Farmers
Different individuals have different personality types, such as hunters and farmers. Hunters are restless, driven individuals who constantly seek stimulation and need to accomplish tasks. They can easily be influenced by others and need to be part of a pack. Farmers, on the other hand, are more creative and prefer stability. It's important for hunters and farmers to understand and work with each other's strengths in order to achieve success.
Breaking Free from Limitations and 10x Thinking
Breakthroughs require breaking old patterns and limitations. Embrace 10x thinking, which can result in exponential growth or improvements in various aspects of life, not just financial gains. Look for ways to transform challenges into opportunities and be open to change. It's crucial to constantly seek growth and surround yourself with people who challenge and inspire you.
Dive into marketing principles, the power of sales letters, and the #1 reason people buy from Joe. Join us for inspiring insights, valuable lessons, and Joe's unique ability to connect with high-level Entrepreneurs.
Here’s a glance at what you’ll learn from Tommy Mello and Joe Polish in this episode:
How Joe turned his life around from addiction and made his entrepreneurial fantasy come true
What Joe did with his carpet cleaning business that made him stand out from everybody else
One of the most instrumental conversations Joe had that changed the trajectory of his business
The Jet Ski Millionaire: The "first domino" that put Joe on the path to business success
Why there's no relationship between "being good" and getting paid (and what to do about this)
Secrets of education-based marketing, relationship marketing, and direct response marketing
Why any problem in the world can be solved with the right sales letter (and how to write it)
How "bad news" in the world could be the best piece of "good news" for your business and life
Discover the #1 reason people buy from you and attract more Customers to your business
The Million Dollar Racehorse: How to best take care of yourself so you win more often
How to create valuable marketing that helps prospects make an informed buying decision
Increase your productivity, leverage your capabilities, and 10x your achievements
How to create conditions for a business that is E.L.F. (Easy, Lucrative, and Fun!)
A valuable insight billionaire Richard Branson shared with Joe about hiring and delegation
The power of guarantees, building trust, positioning, and focusing on "What's In It For Them"
Two keys to identifying what people want, aligning with prospects, and selling more services
The 9 principles of Genius Networking that can help you get what you want in life and business
How Joe connects with high level Entrepreneurs, millionaires, billionaires, and famous people
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