Category Archives for "Everything"
Everything Goes Here!
Everything Goes Here!
PEARLS OF WISDOM
by Tony Pearl
So… How do you feel about S&M?
Is that something you’re “in” to? Does it get you excited? Nervous? How does your wife, husband, or significant other feel about it? Do you have friends who are also into that?
Wait a minute! I think we might have a misunderstanding here.
When I say “S&M,” I’m referring to Sales & Marketing!
What did you THINK I meant? 🙂
All kidding and double entendres aside, in this article, we’re going to discuss the vital importance of Sales & Marketing (aka “S&M”) in your business, and how it impacts virtually everything you do.
If you ignore this subject, you’re putting a loaded gun to the head of your business & pulling the trigger. Yeah, it’s that important. So PAY ATTENTION here!
We’ll Start With Marketing
What is marketing? Simply put, it’s the things you do to advertise your business. I’ve also heard it described as “All the stuff you do to get the phone to ring.”
Commercials, sales copy, informational videos, books, articles, online & offline advertisements, direct mailing, and anything that generates traffic to your website are all great examples of marketing.
Now, marketing is both an art and a science. To be a good marketer, you need a certain level of creativity to make the right ads, use the right images/videos, or write the right words. But you also need to track the results you get so that you can know from where they come. For example, if your phone is ringing off the hook from the ads you’re running, but you have no way of knowing which ads are generating those calls, you’re wasting money somewhere. But if you did know which ones were working, you’d also know which ones were not working, so you could stop paying for them and focus on what was working instead. Capice?
Finally, the main function of good marketing is to find and target your desired audience, get their attention, engage and stimulate their interest, and then get them to take action on what you want them to do. That action could be to call you, visit a link or site, click a button, fill out a form, or request to get more information.
Now, Let’s Talk About Sales
If marketing is all the stuff that gets people to call you, then SALES is everything that happens once you have that prospect on the phone, in front of you, or on your sales page. Sales can also be a well-written sales letter or sales video that gets the prospect to purchase something. In other words, it’s everything you do to get them to BUY whatever it is that you’re selling. Ok?
And guess what? This is where most people really need help! If you don’t have this skill, you’re going to struggle. Business will be hard, and you’ll wonder why you’re not making any/much money. People won’t want to listen to you or return your calls.
But if you DO possess this vital skill and exercise it frequently, you’ll reap the rewards in so many ways. Sales is truly the Million Dollar Skill. Your life and business will be a lot better & easier for you and those around you. And it’s very likely that you’ll be closing deals and cashing checks.
The sad thing is that is seems that so many people have a bad feeling about sales and salespeople in general. Personally, I believe that this is because they misunderstand what sales really is and what it truly does for people. The way I see it is like this: A good salesperson will ethically help someone get or do something that they really want to do but don’t know how or can’t do themselves.
A truly good and effective salesperson needs to have a particular set of skills. These skills are centered around powerful communication, persuasion & influence. They know how to listen to what the prospect is saying so that they can determine IF what they offer is truly going to be a good fit for the prospect’s needs and greeds (wants). If it is a good fit, and the prospect can afford whatever “it” is, then they should be able to find a way to make it work and do business together for their mutual benefit. If you look at it that way, what’s not to like, right?
Better Than Peanut Butter & Jelly?
As you can see, each of these items is important on its own. There are entire books, events, and even people dedicated to both Sales and Marketing (“S&M”)…individually. Shoot, even the big corporations have entire teams built for just marketing or just sales!
But just like the “other” version of “S&M,” or, if you prefer, just like peanut butter & jelly (or chocolate), the REAL power happens when you put them together!
For example, let’s say you run a real estate investing business. Doesn’t matter how big it is. And let’s say that you want to buy and sell more houses to make more money, etc. You have a reasonably modest budget to use ($500-$3,000), so you decide to run a Direct Mail campaign to accomplish your goal of buying 4 houses this month. Since I assume you’ve at least heard of the Yellow Letter marketing, we’ll use that for this example.
The first thing you do is: Identify your target market – to whom you want to mail – by buying a LIST of potential prospects. For example, out of town owners of free and clear houses (a classic list to buy). The price you pay for the list may vary, depending on where you buy the list, the location of your target list, and how much information you get. But let’s just say you buy a list of 2,000 names & addresses of absentee owners in a few local areas for $300.
Your next step would be to prepare your mailing. You can either do this yourself (no!) or get someone else to do it for you. Although there are many options available, we recommend the YellowLetterLady.com – she’ll take great care of you for a very reasonable price.
For the sake of time & simplicity, we’ll say you spend about $2,000 to send out 2,000 yellow letters. Add that to the $300 you’ve already spent, and you’re up to $2,300. The letters go out, and the calls come in. Add another $200 for the live answering service that takes the calls for you (for a total of $2,500). THAT is an example of marketing.
So now you have these calls coming in. You have a VA follow up with them to get the information you need. Then your next step is to talk with these prescreened prospects in the appropriate way, so that we can find out who we can and can’t do business with. Finally, you’ll work out an offer that makes sense & do a deal together.
THAT is sales… in a nutshell.
Think of it as a One-Two Punch
Ever watch a boxing match? A great boxer uses a jab to set up a punch. That’s kind of how marketing sets up sales. One sets up the other. (I’ll spare you the analogy here to the other type of S&M).
In the example above, we spent about $2,500 to generate those calls of people who may be interested in selling their home. Done right, that investment could bring you in $20,000-$100,000+ of cash & equity from the houses you buy.
But if you don’t do any marketing, your phone will never ring. And if you don’t know how to sell or properly talk to people, you won’t make any money.
In keeping with the main idea of this article, don’t beat yourself up…even if you enjoy that kind of thing. Give yourself and your business the greatest chance of having success by studying and applying good, solid Sales and Marketing tactics.
Don’t be afraid to use the big 4-letter word in marketing: TEST! Test things out to see how they work. Make sure you track your results so you know what’s what.
If you’re new to – or afraid of – Sales, the first thing to do is… change your beliefs! As the late, great Dr. Wayne Dyer said, “When you change the way you look at things, the things you look at change.” So believe that you can be good at talking to people. Believe and visualize successful outcomes in your interactions.
The next step is to learn and practice how to talk to people the right way. Want to know the best way to practice? Role play these interactions with someone so you can get good at this. Then start to put it into play by talking to real sellers, and watch the magic start to happen.
So now you know the secret to success in business…That’s right!:
Role Playing and S&M! Who knew that this could be so naughty & fun! 😉
Until Next Time,
Copyright 2019 Tony Pearl | All Rights Reserved
BIO: Tony Pearl is a writer, speaker, copywriter, coach, mentor, marketer, musician, poet, ballroom dance instructor, world traveler, father, fiance, internet marketer, voiceover artist, and real estate investor. He’s also a Politically-Incorrect Insomniac with ADHD who specializes in adding massive value to people’s lives by helping them overcome limiting beliefs, have more fun, and make more money while improving lifestyles through investing in real estate!
Go sign up for his FREE Newsletter at TonyPearl.com.
In this article, we’re going to be discussing one of the essential skills you must possess if you’re going to be successful in this real estate (or any other) business. When you master this skill, you’ll be MUCH more efficient with your time, reduce frustration & anxiety, and keep your self-respect and motivation. Sound good?
Of Course, I’m Talking About How To Properly Pre-screen People.
We all know that the first thing we’ve got to have in any business are LEADS – people who have raised their hands to signal that they’re interested in either our product or service…or are at least interested in getting more information about it. In real estate, this could simply be a list of people who either want to sell their house or buy a house. There are many sources for these leads – you can either find, buy, or create them…but that’s a topic for another article. For now, we’ll just assume that you already have several leads, and you just need to find out if you can do business together.
And this is where a LOT of people have challenges. The problem is that most people mistakenly believe that they have to convince people to do business with them! However, nothing could be further from the truth. I’ll let you in on a little secret…
The truth of the matter is that we’re not going to convince anyone of anything. Instead, it’s our job to sift and sort everyone we talk to so that we correctly identify only those people who are flexible and motivated enough to consider other ways of getting things done…And whack the rest at lightning speed! But in order to do that, we need to know…
The Three Types of People
Did you know that there are only three types of people? Well, of course there are many more than that, but for our intents & purposes, we need to only concern ourselves with these three: 1. The Suspect, 2. The Prospect, and 3. The Project.
You know the type. These are the sellers who ONLY want full price, all cash, and don’t even want to think about anything else. These people will waste your time, suck all the life & motivation out of you, and almost make you want to quit. Unfortunately, these are going to be the majority of people you talk to. Someone in this category would say something like “Oh, we wouldn’t do anything like that,” “We don’t need to sell,” or “Yeah, we’re just testing the market to see what people are willing to pay.”
How To Deal With Them: Identify early & get out fast. Follow up later if you like.
You’ll know them when they say things like “We’ve got to sell, like, yesterday,” “I don’t know what else to do,” and “Please just make me an offer!”
How To Deal With Them: Recognize WHAT they need and HOW to give it to them. Go out to see them as quickly as possible – with a contract in hand, ready to go, because the first one there with a workable solution gets the deal!
These people need your help…they just may not know it yet. In order to best serve them, you’ll need to have your skills sharpened and ready, because they’ll test you.
These people say things like, “I don’t know what to do,” “How does that work?” and “How can you help me?”
How To Deal With Them: Use the right psychology & sales tactics to help them understand that they need your solutions. You’ll probably need to follow up. Get them to make you the offer.
Why is it important to know the difference between these three?
Because the SUSPECT will make you broke. The PROSPECT will make you money. But the PROJECT? They’ll make you rich!
If all you ever talk to and deal with are suspects, you’re going to get frustrated, start to think that this business doesn’t work, and want to punch someone. True prospects are great, but like a needle in a haystack, they’re usually a lot harder to find. Projects are the ones who will truly make you rich, because you’re not only able to add value to these people’s lives, you’ll do more deals, as the competition is not skilled enough to handle them. These people will truly justify the investment in your education, many times over.
The “Secret Sauce” to Being a Master Prescreener
It’s actually very simple to effectively prescreen the leads you talk to. The method is so simple, you’ll be tempted to just blow it off or take it for granted, but that would be a mistake, believe me. Here it is: The best way to prescreen people is to ask them the right questions. Obviously, you need to get the right information about their house & their situation, determine what their needs and greeds are, and to gauge their levels of flexibility and motivation.
But like anything else, there’s a right way and a wrong way to do it. The wrong way would be to interrogate them like a handcuffed suspect accused of committing a crime. You don’t just go from question to question, forcefully extracting information from them, because it won’t be long before they resent and resist you.
The right way means that you should first frame the conversation properly so that they understand the context of your questions. You should also skillfully and respectfully converse with them to find out what you need in order to determine which of the 3 categories they belong. The right way also means that you’re open, honest, and confident about what you’re able to do for them.
The bottom line is this: ONLY after you’ve gotten the right information you need to know do you present a possible solution to their situation. Stop wasting your time trying to convince people about how smart you are or all the creative real estate techniques you just learned this week. Nobody cares. All they truly care about is what you can DO for them. We’ll talk about how to best present your solutions in another article.
So there you have it! You now know the importance of the art of prescreening people, what the 3 categories are, and how to determine who belongs where, and why. Armed with this information, you’ll save yourself a TON of time and frustration, because you’ll only be dealing with qualified people who want to do business with you, while the rest will most likely drive your competition crazy when they talk to them.
Until Next Time,
Copyright 2017 Tony Pearl | All Rights Reserved