Marco Torres, Co-founder of MarketingBoost.com and expert in incentive-based marketing, shares his game-changing insights on boosting business sales without resorting to discounts. He emphasizes the dangers of discounting, which can severely erode profits. Instead, Marco advocates for value-add incentives like hotel stays and restaurant vouchers to engage customers and enhance lead magnets. He highlights gratitude's importance in business and reveals innovative travel incentives that successfully attract and retain clients while maintaining profit margins.
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Start with Gratitude
Start each morning with gratitude for being alive and feeling blessed.
This positive mindset provides energy and focus for the day's tasks.
insights INSIGHT
Avoid Discounting
Many business owners lower prices to compete, but this can hurt profits.
Instead, focus on a unique selling proposition to stand out.
question_answer ANECDOTE
Impact of Discounting
Discounting 10% on a 20% profit margin requires double the sales to maintain profit.
A business selling $1000 of product making $200 profit will only make $100 with a 10% discount.
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The Freedom Journal is a structured journal that guides users over a 12-week period to set and achieve their goals. It emphasizes the importance of discipline and consistency in achieving freedom and success. The journal provides a systematic approach to goal setting and tracking progress.
The Common Path to Uncommon Success
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John Lee Dumas
Rich Dad Poor Dad
What the Rich Teach Their Kids about Money - That the Poor and the Middle Class Do Not
C.P.A. Sharon L. Lechter
Robert Kiyosaki
The book tells the story of Robert Kiyosaki's two fathers: his 'poor dad,' a highly educated but fiscally poor man, and his 'rich dad,' the father of his best friend who was a successful entrepreneur. It emphasizes the importance of financial education, distinguishing between assets and liabilities, and building wealth through investing in assets such as real estate and businesses. Kiyosaki argues that a good education and a secure job are not guarantees for financial success and provides practical lessons on how to make money work for you rather than working for money[1][3][5].
From the archive: This episode was originally recorded and published in 2021. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL's in these archive episodes are still relevant.
Marco Torres, Co-Founder of MarketingBoost.com, has helped thousands of business owners worldwide boost sales and scale their businesses by as much as 5-fold through the use of incentive-based marketing. He teaches entrepreneurs how to soar sales and marketing through the use of “Value-Add-Incentives” instead of discounts. His Facebook Group is home to more than 27,000 active business owners who are raking in sales with his advice and amazingly affordable subscription program.
Top 3 Value Bombs
1. Gratitude is number 1. You have to be grateful for everything.
2. Discounting can eat up your profit.
3. Incentives can make your existing lead magnet work.
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