Archives for January 2012

The Power Of Transformation Mechanisms

  • What Is A Transformation Mechanism? = A Way Of Influencing People Through Metaphor, Enterainment, Humor, Or Fun.
    • A Power Tool For Communication & Persuasion
    • A Way Of Bringing People To Your Side Of The Table
    • It HighlightsYour Critical Point & Persents It In A Way That’s Impossible To Miss
    • Think Of What MiMi Has Did Last Week With The Match… It’s A Trick With A Point
  • Transformation Mechanism #1: Think Quick – Pick A Number One To Four
    • Who Thought Three?
      • Schtoma = Psychology Says The Mind Likes To Fill In Blanks
      • I really said Pick A Number 1,2,4.  98% of people will answer 3.
      • There Are Two Ways To Answer: One For 1,2, & 4; Another For 3.
      • Takeaway: A Tool You Can Use To Break The Ice
    • How Does This Tie In?
      • Here At X Company We Have Provided Excellent Customer Service.
      • We Listen To Our Clients.
      • We Are So Focused On Our Clients That We Know What Their Thinking
      • You Are The Most Important Part Of Our Business

 

  • Transformation Mechanism #2: A Fuzzy Grey Elephant In Denmark
    • The Whole Thing Is Structured To Lead You To That Conclusion
    • How Does This Tie In?
      • It Empowers People & Leaves A Lasting Impression
      • Puts Them In An Emotional Framework
      • You Can Explain It To Them But That Takes Away The Power
      • COMPLEX SERVICES:  You Don’t NEED To Know How It’s Done To Benefit

 

  • Transformation Mechanism #3: The Power Matrix
    • Walk Them Through It
    • How Does This Tie In?
      • Fax It Ahead Of A Job Interview
      • Fill It With Your Competition

 

  • Transformation Mechanism #4: Body Metaphor
    • Put Your Fingers On Top Of Your Head Like This.
    • WIIFM = Our Customer’s Are Tuned Into What’s In It For Me Radio

 

  • How Can You Create A Transformation Mechanism?
    • 4 Step Process
      • Think Of A Current Persuasion Problem
      • Extract The High Concept (Boss Doesn’t Trust Me With Big Project)
      • Do A Personal Inventory Of Skills (Great At Frisbee)
      • Match The Concept With The Skill (Bring A Frisbee & Spin It)
        • Tell A Story Of How You Became Great At Frisbee
        • Use As A Metaphor For The Project

The Power Of Price Elasticity

  • “Price Cutting Is A Self-Inflicted Wound.”
    • Nobody put a gun to your head.

 

  • Reasons Why Entrepreneurs Fail At Pricing = By Fail I Mean A Failure To Use Price As A Marketing Tool & Strategic Advantage.  I Also Mean Failing To Extract The Maximum Profit From Your Business.
    • Pricing By Industry Norms (You’re Better Off Going At The High End Of The Scale)
    • Attracting Customers That By Based On Price
    • Not Offering Premium Products / Services
    • Poor Self-Esteem / Business Esteem (You Don’t Feel That You Deserve It)

 

  • The Power Of FREE = FREE Is The Most Powerful Word In The English Language.  2nd Most Powerful is SEX.  Throw The Two Together… (Cars, Makeup, Clothes, Personal Hygiene, Jewellery, Perfume, etc.)
    • FREE can generate traffic, drive buying decisions, build a list, motivate a prospect to take action, etc.
    • FREE has a dark side that can create the expectation of more FREE, turns buyers into mooches, etc.
    • Example:  Mainstream Media gave their news away on the internet, now they can’t sell newspapers.
    • Ultimately, You Must Think Of The Consequences When Using FREE
  • Breaking Free Of The Price / Product Bonds = There are two chains that must be cut.  One is in your mind.  The other is in the customers.  BOTH must be severed to create maximum profits in your business.
    • Your Price Product Bond is more rigid than your customers.  Theirs is far more flexible.

 

  • Brass Balls = The hardest thing about being paid high dollar fees is keeping a straight face when you ask.
    • The proposition influences their reaction to the price.
    • Types Of Propositions
      • Irresistible Offers
      • Unique Selling Proposition
      • Unique Experience Proposition 
  •  MEGA MYTH:  “We’ll Make It Up On Volume”, The Rise Of The Category Killers
    • Before Wal-Mart → Kmart → Sears & Roebuck → F.W. Woolworth Company → In A Endless Chain
    • LESSON:  Cheap Prices, Bargains, and discounts will only keep a customer for the short term.  However, true value, real quality, and outstanding service will keep them coming over the long term.

 

  • The 80/20 Rule = About 20% of a buying decision is based on the lowest price, 80% is based on other factors.
    • Other Factors: Ease Of Use, Prestige, Top Of Mind Consciousness, Referral, Reciprocity, etc.

 

  • Miscellaneous
    • If you raise your prices by 10% you’ll have to lose 30% of your business to not profit.
    • You should be raising your prices by 4% per year just to account for inflation.
    • If you charge more you can pay more than your competition to get a customer.
    • Affluent people have more expendable income.  Why not target them?
    • Native American Selling Pots Story:  People What To Pay What They Want To Pay
    • There Is A Price Point For Every Product:  Hundred Dollar Cars vs. Million Dollar Cars
    • Psychologically speaking, offer your highest priced offering first.  It makes the following options look more affordable and who knows they might take you up on it.

Winning Through Intimidation

  • Introduction
    • Robert Ringer Real Estate Investor
    • Written Several Best Sellers
    • Invariably When You Speak Of Intimidation, People Think Of It Negatively, That’s Not What We’re About Here…  We Want To Recognize The Tools Of Intimidation At Work
  • Theory Of Intimidation = “The results a person achieves are inversely proportionate to the degree to which he is intimidated.”
    • Different Types: Verbal, Physical, Intellectual, etc.
    • How Do We Defeat Intimidation?
  • Posture Theory = “It’s not what you say or do that counts, but what your posture is when you say or do it.”
    • Improve Your Weak Posture
    • Dress
    • Licensing (i.e. Neekoh)
    • Contractual Agreements
    • Nobody Goes To See The Wise Man At The Bottom Of The Mountain 
  • Uncle George Theory = “If your main focus is keeping your nose to the grindstone and working long, hard hours, you’re guaranteed to get one thing in return: Old!”
    • The Evidence Is All Around Us
    • Everybody Has An Uncle George
    • A Good Work Ethic Is Crucial To Success
    • But We Need To Focus On Innovation As Well
  • Leapfrog Theory = “No one has an obligation – moral, legal, or otherwise – to “work your way up through the ranks.”  Every human being possesses an inalienable right to make a unilateral decision to redirect his career and begin operating on a higher level at any time ho believes he is prepared to do so.”
    • There Are No Ladders To Climb
    • Put A Ladder In Front Of Your Clients

 

  • Tortoise & The Hare Theory = “The outcome of most situations in life are determined over the long term.  The guy who gets off to a fast start merely wins a battle; the individual who’s ahead at the end of the race wins the war.  Battles are for ego trippers; wars are for money grippers?”
    • Tortoise
      • Classic Anti-Hero
      • Rocky, Colombo, The Graduate, etc.
      • Long-Term Results
    • Hare
      • Flashy
      • Short-Term Oriented

 

  • To Be Or Not To Be Intimidated?
    • Acknowledge The Reality Of Intimidation
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