referral system &seminar Martin Lee on 07 Sep 2007 12:58 am
Strategic Business Building Weekend Singapore – Day 1
Attending the Jay Abraham event was a mix of participants from Singapore, Malaysia, Japan, Taiwan, China, Thailand, Indonesia and Hong Kong. Here are some brief ideas and examples I picked up from Jay Abraham on the first day. It does not include a fair bit of material that was emphasising on marketing mindset.
Press Releases – Jay had the fortune to be featured on over 50 media publications. The bad news is that not a single customer was obtained as a direct result of the publications. The way to use these publications is to make them part of your sales materials to build credibility and increase conversions.
Tradeshows – Instead of using a normal signage, use one that spells out the benefits clearly for the visitors. This will increase the number of people visiting your booth.
Power Parthenon – Some businesses get their new customers primarily from telemarketing. Some get theirs primarily from a sales force. Some from referrals. Some from direct mail. Some from advertising. Some from tradeshows.
The companies that rely on only one marketing channel is like a diving board. If something happens to that channel, the business will be in trouble. If you add more marketing channels, it makes your business more immune to changes in any one channel.
Think about it. If you get 100% of your clients from telemarketing and someone else is getting 100% of his clients from direct mail, won’t it be possible for you to add direct mail to your marketing efforts and increase your client base by a modest 10%? Add referrals and you increase it by another 10%. And so on.
The potential is huge but do not try to start by adding all the new marketing channels together. Focus on one at a time and when it works, you can proceed to the next one.
Referrals – 20% of the participants get alot of their business from referrals. Yet, most of them had no formalised referral systems in place. Can you imagine the upside if you were to just integrate three referral systems into your business?
on 09 Sep 2007 at 11:11 pm 1.Paul said …
Hi Martin
You seem to be having an interesting time although there doesn’t seem to be anything new.
I presume that when Jay talked about his PR in magazines he emphasised the importance of using the reprints in your marketing as an endorsement that gives a lot of validity to any communication.
Still I do envy you this experience.
on 09 Sep 2007 at 11:13 pm 2.Martin Lee said …
Hi Paul,
Yes, that’s what he was refering to.