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Eliminate 90% of your Competitors

Eliminate 90% of your Competitors

June 28, 2008

One of the biggest mistakes I see my clients make is that they view a promotion as a one-shot effort.

Why? Because most people don't buy the first time they see a marketing piece or ad from you.

A research study by Sales and Marketing Executives International found that most prospects don't respond to an offer until after the fourth contact. So how often are you hitting your prospects with your marketing or advertising message? Once, twice, maybe three times?

According to the second part of the SMEI study, 90% give up before the fourth contact. That means only 10% of the marketers in your segment stick it out.

Here's what it means to you: Only 10% of the businesses are capturing 81% of the sales!

This is mind blowing! This is your magic leverage point. If you can be one of those who has the stick-to-itiveness that's needed to continue marketing to your prospects, you'll capture a larger share of the sales in your market. Imagine if you could eliminate 90% of your competitors and increase your chances of success 81%. That's exactly what you're doing simply by not giving up after the fourth contact.

If you're a parent you know how important it is to repeat your message. In my home, saying something once generally doesn't work.

The point is that you have to repeat your message.

A company named Anderson Trucking used this concept. They sent their prospects postcards, aspirin and magnets saying, 'We'll stick with you.' They sent out horns like you put on a child's bicycle saying, 'We don't mean to toot our own horn.'

They brought in over $1 million in sales just by having that stick-to-itiveness. That is pretty remarkable.