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Jay Abraham: Marketing Concepts They Won't Teach You at Harvard
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Marketing Concepts They Won't Teach You at Harvard Business
School
By
Jay Abraham
How to Multiply Your Business Results While
Reducing Your Time, Risk and Effort.
Introduction: Who Is Jay Abraham? By Howard Ruff
A lot of people asked that question before they read this
book.
Some of them will still ask it after they've read the first
few pages. "There's nothing new here," they say. "I already
know all this stuff - it's common knowledge among us experts.
With all due respect, those unfortunate people will probably
never comprehend a very simple, fundamental truth.
All the notes had already been discovered before Mozart came
along. I hope you understand what I'm trying to say.
Jay Abraham uses the building blocks everyone knows about to
create financial castles like nothing anyone has ever seen
before.
And even though every single one of his techniques uses
leverage to multiply your marketing dollars beyond belief,
they're all based on a concept so corny some people snicker
when they see it in print. That is:
Marketing is what happens when you're being good to your
customers.
What could be more satisfying than being "good" to someone by
fulfilling his/her needs? What could be more "noble" than
telling the truth about your product? What could be more
rewarding than making money - lots of money at the same time?
Please read on so you can decide for yourself.
CHAPTER 1
Marketing Concepts They Won't Teach You At Harvard Business
School
Concept Number One: People are silently begging to be led.
They are crying out to know more about a business' product or
service.
When you educate your customers, you'll see your profits soar.
Think about your own experience. When you consider buying any
item or service - for yourself, your home, for your family, as
a gift, or for your business, you often don't know as much as
you would like to. And, if you have unanswered questions about
a product, you're less likely to shell out money to buy it.
Yet, when a company or salesman takes the time and initiative
to objectively educate you about all the products in the field
you're making a purchase in, they gain your trust and favor
immediately.
Your reaction to being educated is not unusual. Education is a
powerful marketing technique. Educate your prospective buyer
about everything (including a few of the bad or less positive
aspects of your product or service) and you'll sell to almost
twice as many people as you do now.
This one concept - educating your customer - will gain you a
dramatic advantage over your competitors.
Concept Number Two: Tell people what specific action to take.
Few businesses realize that they must lead the customer to
action, in addition to developing a compelling marketing plan.
People need to be explicitly told how to act to obtain your
product or service. Therefore - and this is incredibly
important - every sales call, letter, commercial or personal
contact should make the case for your product. Give the
prospect a brief education, then take him by the hand,
figuratively, and tell him what specific action to take next.
If you're selling an impulse item, and/or if the offer is for
a limited time, tell your prospect to get in touch with you
immediately. And don't be abstract. If you deal by phone, tell
him to pick up the phone and call a specific number.
Concept Number Three: Marketing is the ultimate financial
leverage.
When you run an ad, it costs you "X" dollars. Whether the ad
generates 10, 100 or 1,000 sales, the cost of the ad is fixed.
So if you have been content generating 10 sales from an ad
that costs you $1,000, and I can show how to generate 100 or
1,000 sales from the same ad space, your leverage improves
1,000 to 10,000 percent.
Now you should be asking yourself, "Can I get an ad to produce
10 to 100 times greater yield for the same dollar?" The answer
is a resounding "Yes!" Simply test different headlines, body
copy, themes, basic propositions, and offers. Very carefully
analyze the results each ad generates (something very few
sellers ever do). You'll know immediately which offers produce
more sales, profits or customers.
Concept Number Four: Advertising is nothing more than
salesmanship.
As obvious as it should be, virtually no one really
understands this basic concept. Advertising via radio,
television, magazines and direct mail should all be
constructed and implemented in the same demanding way a
salesman makes a pitch to a prospective customer.
Each ad should make a complete and compelling case for the
product. The ad should also advocate your product to the
prospective buyer in an educational, informative, and
factually supportive way. Your advertising should create
visions of a multifaceted product in the minds of your
customers.
Many marketers scorn long, "reader-type" ads or long, meaty
commercials and opt for short, abstract, "cutesy" advertising.
But remember, advertising is salesmanship. Would you tell your
salesmen to stop their presentations in mid-stride? Would you
tell them to make less than a complete and compelling case for
their product or service? Would you tell them not to ask the
prospect to make a buying decision - to take action, if you
will? Would you instruct them to be flippant, cute or
oblivious in the way they communicate with prospects? Of
course you wouldn't!
So don't let your advertising fall into the same expensive,
non-productive trap.
Once you learn the difference between salesmanship and
"cutesy" advertising, you'll have an immediate advantage over
virtually every one of your competitors.
Concept Number Five: People don't appreciate what you've done
for them - or will do for them - unless you educate them to
the facts.
One of the saddest marketing mistakes I see is the failure of
businesses to educate their customers about the unique
advantages offered them. If you've reviewed 100 different
manufacturers of the products you sell, let your customers
know. It'll impress them that you've screened out products
that don't have the quality, endurance, warranty,
manufacturing support, service guarantees or dependability you
know they want.
Perhaps your guarantee is three times longer or covers five
times more problems than your competitor's. Your customer
won't know unless you tactfully point it out.
Concept Number Six: Bonuses can make a profound contribution
to your overall sales proposition.
By carefully acquiring high-perceived-value, but low-cost
bonus products, your firm stands head and shoulders above its
competitors in terms of real value provided to the customer.
There are an infinite number of both tangible and intangible
bonuses a business can "package" into a sales proposition.
Concept Number Seven: Turn the tables on the risk factor when
making a sales proposition.
The customer always sees the risk being predominantly borne by
him - not the salesman.
If you are the first company in your field to remove that
obstacle and assume the risk for the customer, you gain an
incredible advantage.
Most businesses de-emphasize the guarantee. If you emphasize
the guarantee and give customers something valuable as a
bonus, you've probably got a sale.
Abraham Publishing • 27520 Hawthorne Blvd. Suite 263
Rolling Hills Estates, CA 90274 • 310-265-1840
Website: www.abraham.com
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