Jarred, a follower of our weekly show, Coach’s Corner, asks: “My target market is small but very affluent, I can do mass scale advertising on social media, what would you advise me to do?”
Here’s my answer to Jarred:
I actually consulted for a company that targets a very small market. They can go and do mass Google ads or Facebook ads but it doesn’t make sense. They have about 50 to 100 clients, but the value per client is very high. That is actually 7 figures per client.
When you have a small target market, but you know that every client is worth a million dollars, what I would recommend is to create an irresistible box. This is generally called a “shock and awe box”.
Coming back to the question of doing sales presentations, generally, when you go in to a pitch, you actually have to show what you have, because the person hasn’t paid you yet, but if you use this concept of creating a “shock and awe box”, it completely shifts the power and the relationship with your prospect of clients.
Think of it like this; let’s say you’re targeting 100 clients. I would recommend you to spend 50 to $100 on getting in front of those clients in a very different way than just cold calling or just walking into their office.
Write a book
When you’re dealing with big 7 figure deals, you need to be able to stand out. You need to be able to prove that you actually have the goods and show them in advance.
First of all, if you don’t have a book, you need to have a book. You need to write a book. You can write one this month or in three days, because you should have a book.
For example, I’m writing my next book now and I’m doing it with my phone. I’m literally dictating this writing for me and then my editor is just going through it and editing it into something that’s readable.
If you don’t have a book, you need to have a book, because that’s the number one way to really convey authority.
Create a shock and awe box
I want you to think of a package you can send them, a physical package that may weigh 5 or 10 pounds of stuff that really gets into their hands.
In that package, you have all your credibility pieces: you have a book, you can have a brochure of your testimonials of former clients or people who are influential in your space and who have said good things about you, a testimonial booklet, CD’s or DVD’s or USB keys with reviews about you, your company, about the services you provide, about happy clients showing them that you’ve actually have a track record and people have paid you money.
They only care about the results that you can provide.
Do a testimonial brochure. Not just the lame brochures with pictures of your services. People don’t look at that because it’s really lame and its very sales oriented. You want to be perceived as a non-sales person, but as the authority. Do a testimonial booklet that’s maybe a 5 or 10 page booklet with pictures of your former clients.
Then, I would definitely do something in video. Do an interview. It can be an interview with your phone. I would actually put at least $500 or a $1,000 in creating something of high quality, so people can actually watch it. It conveys the authority you have.
I also saw some really neat things being done with an LCD brochure. It’s basically a brochure, but when you open it, it plays a video.
You actually have the video at the top of the book, so it can play when it opens.
It can be a short presentation, just a few minutes of saying “thank you for ordering this kit” or “this is such and such company, we just wanted to provide you with some information about what we do and how we help clients achieve XYZ results”.
I would also give them some random stuff. You can put some food like cookies, muffins or you can put some weird and funny items.
Attach to that food or whatever piece of item you give them a handwritten note saying, “you will need this when going through our material, because there’s so much to go through” or “thank you for taking the time to look at this material, here’s a cookie” or “here’s a box of cookies to better enjoy the process of looking at what we do”, to turn it into a real experience.
You create an experience out of someone, because first of all, they’re opening a box. A lot of people don’t have the courage or the open mindedness of creating a box of stuff and send that for free.
I would actually send it free, I wouldn’t even charge for it, especially if your deals are worth seven figures. Go spend a $100 or even $200 in sending it to your ideal clients.
Once you have that big box of stuff, you need to call them.
You need to follow up with them, because sending a box is not going to do anything. People receive stuff in the mail all the time and even if they like the box, maybe they haven’t had the time to look or maybe they’ve looked at it and they like it, but the CEO is so busy that he doesn’t have time to call you back.
If you invest the time in creating a really good “shock and awe box”, take the time to follow up. After sending it, you want to wait for a week to call back and say, “Hey, we just sent you the box, do you have any questions?” or “did you enjoy the cookies?”
Make them consume the content, because even if they love the box, think of how much stuff they get in the mail. Think about that: you want to follow up.
The follow up sequence is as important as the content in the box. Combining both is by experience the key to convert high end deals. Also, you just stand out as an authority, because you’ve actually send them a box of stuff with credibility pieces of what you do.