Marketing

How Influencers Are Using Negative Attention To Create The Bandwagon Effect, And Why It Works

December 21, 2019 by Dan Lok Leave a Comment

Social media influencers have a lot of tricks up their sleeves when it comes to getting more followers, more engagement, more likes, more shares, and more exposure. Figuring out a way to create the bandwagon effect is one of the ways rising influencers gain momentum – but is this a good way to grow your following? Before we get into that, let’s talk about what the bandwagon effect is.

Whenever you do something simply because “everyone else is doing it,” you are shamelessly riding the bandwagon.

The bandwagon effect is a psychological phenomenon characterized by the increase in the probability that an individual will adopt certain beliefs or follow certain trends, simply due to the fact that a large number of other people are doing it.

People will ride the bandwagon in order to follow the crowd. The thing is, they’ll do this even if the crowd’s beliefs oppose their own true beliefs.

When you see that an influencer’s post got a lot of retweets on Twitter, you’ll be more likely to retweet their post. If you notice that most people are cheering for a particular team at a sports event, you’ll be more likely to cheer on that particular team. This is often called “hopping on the bandwagon” or, “jumping on the bandwagon”.

The Bandwagon Effect Requires Social Proof

Without social proof, the bandwagon effect won’t be easily achieved. But what exactly is social proof?

Social proof is based on the concept that human beings tend to follow the actions of the masses, or follow the crowd. We tend to rely on social cues – or social proof – to make our decisions. And, we tend to conform to whatever the majority is doing or thinking.

We tend to rely on social cues to make our decisions, which is why social proof is so important for influencers and brands. Share on X

When deciding what to buy, what to think, and how to act, do you rely too heavily on social cues? Do you look to see how others are reacting, before deciding how you are going to react? Have you noticed a strong desire to conform to whatever seems to be the popular choice or the socially acceptable decision? If so, you’re one of the millions of bandwagoners who make the bandwagon effect work.

When people see social proof that there are a large number of people doing something, or an influential person is doing something, they’re more likely to hop on the bandwagon and join in. Some people call this ‘following the crowd’, others call this the ‘herd mentality’, and others call this ‘riding the bandwagon.’

Examples of Social Proof at Work

If an influencer already has 1 million followers, you’re more likely to want to follow them, right? And if an influencer’s product already has thousands of online reviews, you’ll be more likely to buy it, correct? Similarly, we’re more likely to buy a book on Amazon that has lots of reviews from the public, or has been endorsed by a celebrity. Statistically, 91% of 18-34-year-olds trust online social proof reviews as much as recommendations from someone close to them. We also tend to trust endorsements from public figures.

When you choose to buy a product because a popular social media influencer or a celebrity has endorsed it, that is social proof at work. Similarly, when you choose to sign up for an influencer’s master class because you see that 10,000 people have already signed up, that too is social proof working its magic.

Social proof is also at play when you decide to wait for a table to eat at a busy restaurant, instead of eating at the restaurant next door with plenty of empty tables available. But what if that empty restaurant actually served better food? Why is it that instead of finding out, we’re more likely to follow the crowd?

Relying On Social Proof Indicates Low Self-Esteem and a Desire to Fit In

Your innate desire to fit in with the rest of the crowd affects your purchasing decisions. Your desire to fit in also affects your decision to adopt a particular belief or take a particular action.

Why do so many people refer to how others are reacting, before deciding how to react themselves? The answer could have a lot to do with low self-esteem.

When someone is motivated to fit in with the rest of the crowd, or hesitant to decide their own reaction independent of the reaction of others, does that indicate low self-confidence?

What if your actual desire was the opposite of what the majority of people were doing? Or, what if you thought the decision the masses were making was actually a pretty stupid decision? Would you adopt the herd mentality, and base the validity of that decision on the number of people doing it? We have already established that doing something simply because everyone else is doing it, is the epitome of riding the bandwagon.

In fact, wouldn’t you agree that not doing something that everyone else is doing, requires a high level of self-confidence? To intentionally be the odd one out – to be okay with not fitting in – that, to me, is admirable.

Using Negative Attention to Your Advantage

You’ve probably heard the expression, “All press is good press”, and “There’s no such thing as bad publicity”, right? But is bad press ever really a good thing?

Some influencers think negative attention can be a good thing, and later in this article I’m going to reveal my true thoughts on the matter. But first, let’s discuss whether or not there’s any truth to the concept that “All press is good press”. Is negative attention ever advantageous for influencers?

When you ‘hop on the bandwagon’ by bad-mouthing a public figure on social media, because everyone else is bad-mouthing that public figure, you’re just giving them more exposure and promoting their brand. When a YouTube video goes viral, it’s generally considered a good thing, even if it went viral because people were making fun of it or shaming it.

Influencers are Leveraging ‘Outrage Culture’ and Using ‘Outrage Marketing’ to Get Attention

Outrage culture, also known as call-out culture, is a form of public shaming, popular among millennial social media users. In today’s outrage culture, it’s completely normal for social media users to identify social media posts that are offensive, repost them, and “call out” whoever originally posted it to publicly shame them.

Stirring up controversy is something many influencers do intentionally, to gain exposure in the media, and leverage outrage culture. Some influencers are hoping that what they post will result in a Twitterstorm of absolute outrage. If that’s what it takes to stand out and be noticed, they’re willing to do it, and it becomes part of their influencer marketing strategy.

Stirring up controversy is something many influencers do intentionally, to leverage outrage culture and gain exposure in the media. Share on X

Sheer outrage can be a driving force, and people are inclined to share negative stories and spread the negative virality.

Ryan Holiday, former Director of Marketing for American Apparel said, “What some marketers have realised is that with polarising products and campaigns, they can use the outrage – real or sincere – of their opponents to hijack the media and get attention.”

The question is, is this form of outrage marketing ethical? And let’s say you don’t care about ethics, then let me ask you a different question. It may have worked once or twice, but is this marketing tactic sustainable?

It’s my belief that when outrage marketing becomes more widely understood, people will stop falling for it. It’s therefore certainly not a sustainable marketing tactic. It’s also not typically an ethical one.

You might be wondering why outrage culture has become a thing. The truth is, getting outraged over minor controversy online is a welcome distraction from people’s real problems. It’s also an easier and less thought-provoking outlet for people’s outrage, as compared to getting outraged over real problems such as war, poverty, or violence.

The Masses Project Negative Emotions Onto Social Media Influencers

People project negative emotions onto social media influencers because they function from a lower state of being. They are generally angry, sad, moody or depressed in their own lives, and outrage culture provides them with an outlet to get angry.

Many people tend to be focused on the media’s negative stories, and influencer marketing campaigns take advantage of this knowledge. Like I said earlier, people are inclined to share negative stories and spread negative virality – especially if they themselves are in a bad mood.

Rather than work on improving their own lives, many people would rather call out worse offenders than themselves. This distracts them from their own issues.

Famous Examples of Influencers Who Used Negative Attention to Create a Bandwagon Effect

In recent years, one of the most famous examples of an influencer who used negative attention to her advantage, was Nicole Arbour and her viral video, “Dear Fat People”.

People weren’t really talking about the Canadian comedian Nicole Arbour until she released her YouTube video, “Dear Fat People” which today has amassed over 14 million views on YouTube.

Does it surprise you that it was all a marketing scheme? In an interview with Cosmopolitan, Arbour admitted that “Dear Fat People” was a pre-planned marketing scheme, and that the highly controversial video changed her life financially, as she predicted it would. The short “Dear Fat People” video. She also boasted about film and TV offers that came after that video’s release. “Dear Fat People” launched Arbour’s career, all because of the negative attention it amassed.

Logan Paul is another controversial YouTuber and influencer who has over 20 million subscribers on YouTube.

In late 2017, Paul posted a video which showed a dead body in Japan’s “Suicide Forest,” which spurred outrage online. Paul was accused of making light of suicide. Paul later posted an apology video which garnered over 56 million views, and his following only continued to increase.

Was it all an elaborate marketing scheme? And if so, did it work? As a result of the offensive video, YouTube removed Logan Paul from the Google Preferred program. This of course had a negative effect on his ad revenue.

Paul, however, continued to gain more and more exposure, and make more and more money, despite all of this backlash. People kept buying his online merchandise and kept engaging with him online. This year, he was announced by Business Insider as being one of the world’s highest-paid YouTube stars.

Logan Paul Says His Haters React Exactly How He Wants Them to React

What does Logan Paul have to say about this? “I bank on the naivety of old people and millennials, to perpetuate my brand, make me go viral and keep me relevant,” Paul recently told his podcast, ImPaulsive, later explaining that he has earned hundreds of thousands of dollars, “Because of the haters.”

Of his often outraged haters, Paul said it’s unlikely they’ll catch on that it’s all a marketing scheme, and even if they do, his followers are still reacting exactly how he wants them to react.

Of his haters, Paul said on his podcast, “I’m so confident that they will never, ever catch on – and if they do, their desire to do the bandwagon-type action and bandwagon tweets trumps their ability to go, ‘You know, if I don’t like Logan Paul, the most effective way for me to show my disdain is to be indifferent and not talk about it.’”

What would happen if people showed their disdain for Logan Paul by not talking about him? The bandwagon effect wouldn’t take place, and Logan Paul wouldn’t achieve his desired result.

People Jump Off The Bandwagon Just As Fast As They Jumped On

Influencers who think using the bandwagon effect is good for their online presence need to figure out a more sustainable way to gain media exposure.

People hop off the bandwagon just as fast as they hopped on. Influencers need a more sustainable marketing strategy than the bandwagon effect. Share on X

If you’re a social media influencer considering this marketing tactic, you might be wondering: Why is the bandwagon effect unsustainable? Firstly, it’s because people will jump off the bandwagon just as fast as they jumped on. There’s another bandwagon ready to pick them up that has nothing to do with your brand, and the cycle continues.

In The End, Negative Marketing Hurts Your Brand

In the long run, negative attention hurts your brand more than it helps it. Negative attention is good for brand exposure, but it’s not good for brand image.

Using negative attention and the bandwagon effect might work once or twice. You might get noticed and gain exposure. But if you keep doing it, your brand’s reputation probably won’t be able to uphold itself.

Many consumers view negative marketing as manipulative. You don’t want your brand to appear to be unethical or manipulative, do you?

Negative Marketing is Not Financially Sustainable

Are you a rising influencer, looking to grow your following and monetize your social media platforms? I have millions of followers on social media, and over 2 million subscribers on YouTube. I didn’t gain those followers through negative marketing. Curious how I did it?

Influencers or entrepreneurs can build their communities through a more ethical and sustainable way than through negative marketing or the bandwagon effect. Enroll in my 12-Week Intensive High-Ticket Influencer Program. Do you want to grow a loyal following, and learn how to build a real business around your brand? If so, my program will provide you with the tools required to do so.

How To Scale Your Business in 7 Powerful Steps

September 16, 2019 by Dan Lok Leave a Comment

Should you scale your business if you’re ready to increase your profits and revenue stream? Many entrepreneurs and new business owners desire to be the next fast-growing business. They’re ready to get more clients or sell more offers. But too often they don’t have the capacity or the know-how to move to the next level. To move to the next level, first, we need to talk about why you want to scale it.

What To Consider Before You Scale
1. Sell High-Ticket Offers
2. Sell An Offer That Is Infinite
3. Invest In More Lead Flow
4. Hire Skilled High-Ticket Closers
5. Hire Rainmakers That Are Hungry
6. Hire Qualified Closers
7. Have an Offer, a Flow, and an Army of Closers

Some business owners think, “If I want to make more money, I need to scale.” This may or may not be the case. A company can make over 50 million a year, yet have a net that’s less than 100 thousand dollars a year. So bigger is not always better. Better is better.

The point of scaling is to make more profit, but not every business is meant to scale.

What To Consider Before You Scale

Whether you scale your business depends on your goal. You might be happy with a laptop lifestyle, being a digital nomad making a couple hundred thousand a year to be able to travel. If that’s all you want, there’s no need to grow your business.

If you’re scaling just to make more money, that’s not a good enough reason. A better reason is you need more capital so you can have better infrastructure. Or, you want to reach more people and serve more people. Or you need to scale in order to invest in better technology. Those are all good reasons to scale.

If you’re ready to scale, ask yourself these questions. Does there need to be a margin? How many more employees would you need to hire? Would you need a new office? Would you still have the same margin?

If your business is making 50 million and nets 100 thousand a year, and you double that to 100 million, that’s great. Now you’re making 200 thousand net a year. But to get to this next level, how many employees would you need? Would you need more inventory or equipment?

You want gradual growth for your business. The Startup Genome Report’s coverage of premature scaling found that “70 percent of startups scaled too soon in some aspect of their business, directly contributing to their eventual failure.”

70 percent of startups scaled too soon in some aspect of their business, directly contributing to their eventual failure. - Genome Report Share on X

Think about what your margin would be. Your ideal profit margin depends on the type of industry you are in. For example, if you’re in the food service business, you could have a profit margin of 3.8%. If you are an accountant, you could have a profit margin of 19.8%. It doesn’t necessarily mean one business is doing better than the other. One has less overhead, while another may need to rent space and equipment and invest in raw materials.

Watch this video about the steps to scale your business.

To scale your business, you will need three things: a high-ticket offer that is infinite, a steady lead flow, and a team of high-ticket closers.

1. Sell High-Ticket Offers

Most businesses are what I call a one product pony, which limits their ability to scale. They have only got one product that they’re selling for $30. If the product cost the business $5, they’re making a $25 profit per unit. Or, if that’s a $30 product they’re selling through e-commerce, the most that they could invest to acquire a customer is $25 because that’s their profit margin. For each sale that they make, they can spend no more than $25 to acquire a customer because $5 is their cost.

You can only go to so many channels or use so many ways to acquire that particular customer if you’ve only got one product. The customer buys it once and they don’t have to buy it again. That means you have to constantly market and get new customers.

Now let’s take a look at a different scenario. Let’s say you’ve got not one product but a product line or back end products that you sell to the same customer. And instead of selling low ticket, you’re selling high-ticket.

If you’re selling high-ticket items, you’re first selling a $2,000 product, then a $5,000 product and then a $10,000 product to the same customer. In that case, the annual value of a customer is not $25 for a one time sale. It is $10,000. You have a percentage of customers that will first buy the $2,000 product. Later, they buy the $5,000 product, and then the $10,000 product. Hypothetically let’s say that’s the case. Now it’s a very different game.

Instead of spending $25 to acquire a customer, you can spend $500 to $5,000 depending on the lifetime value of the customer. Maybe the lifetime value of a customer who stays with you is 2 to 20 years. The first year I could spend up to $10,000. That gives the business owner an edge over someone who can only spend $25.

2. Sell An Offer That Is Infinite

Another aspect to consider is how easily you can scale your offer. I call that the fulfillment aspect. If you’re selling something that takes a long time to make, like a sofa, or something handmade, it’s going to be difficult to scale. If you’re selling software, it doesn’t matter if you’re selling 1, or 500 or 50,000 of the same product. You can scale the business just like that. I’ll need more customer support and more infrastructure, but the product itself is basically infinite.

Businesses or Offers That Scale

Tech companies using a software-as-a-service (SaaS) model of producing goods and services. With the lack of physical inventory, low operating overhead, and little need for infrastructure, these companies can scale quickly.

Other offers that scale quickly include eBooks, online courses, and paid subscriptions. You do the work once, and have the potential to reach hundreds, thousands, even millions of people.

Rental property is another type of scalable business. It requires more capital, but you receive payments for years after the property is paid for. Downsides include difficult tenants and repair overhead.

Short term rentals such as Airbnb are growing in popularity as a source of income.

Software as a service, eBooks, courses, rental, and Airbnb are scalable. Share on X

Businesses or Offers That Don’t Scale

Businesses which have operating costs tied to an increase in sales are not ideal to scale. For example, a dry cleaning business has natural limitations: location, size of equipment, and proximity of customers. If you want to scale, you will need to open a new location and incur a new set of risks: hiring new employees, hiring a manager (since you can’t be there), investing in new equipment and a new location. And you will never be able to serve over a million people at any given location.

3. Invest In More Lead Flow

One key step to scaling that many entrepreneurs and business owners underestimate is ad spend for marketing. Many of these owners want to go cheap. They want to spend the least amount of money to acquire the customer.

Identify Your Ideal Buyer

That kind of mentality is not effective for a business growth strategy. In order to scale, you need to outspend your competitors. First, identify your ideal buyer and their needs. How do they learn more about what they want to buy? Do they conduct consumer research by reading consumer reviews? Do they read blogs and industry publications? Build a company presence where your buyer does their research.

If my competitors can only spend $200 to acquire a customer and I can spend $2,000, I could go to so many more channels and test so many more traffic sources in order to scale. I could go to Facebook, YouTube, Instagram, and many more.

That gives me way more options to scale fast. If my competitor cannot afford to go offline or do any offline marketing when I can, the lifetime value of my customer is high.

How much should you spend to acquire your leads?

The amount you spend depends on your industry. According to a recent benchmarks report, “The media and publishing industries report the lowest cost per lead at $11 to $25. Software, information technology and services, marketing agencies, and financial services companies all report the highest average cost per lead at $51 to $100.”

A company’s ability to reach their revenue goals depends on the number of leads it can generate. In the same survey, “over 70% of companies not achieving their revenue goals generate fewer than 100 leads per month, and only 5% generate more than 2,500 leads per month.”

Your company could be running ads on Facebook, Instagram, and Google to bring in the leads. Then your marketing campaigns and the traffic generate a steady stream of leads. At that point, you are ready to scale up to the next level, to take your focus from marketing to sales. At that point, the next bottleneck to scaling your business will be having enough closers.

To scale your business, invest in leads on social media and other sources.

4. Hire Skilled High-Ticket Closers

At what point when you are scaling your business do you need closers? It depends on the value of your offer. When you’re selling products or services that cost more than $5,000, it’s very difficult to make a sale through a webpage or video. You need someone to get on the phone one-on-one and close that particular prospect. What you’ll need is a high-ticket closer, a salesperson who closes premium value offers.

At this level, sales are consultative, not transactional. With transactional sales, the business is more focused on selling the product, so it could become just a one time purchase for the customer. With consultative sales, the business is more focused on a long term relationship with the customer.

The Role of The Closer

When the prospect is ready to invest in a $5000 offer, they book a call with a closer. The closer builds rapport with the prospect and asks questions to find the prospect’s pain points and challenges, budget and timeline. It is the job of the closer to find out if the offer is the solution to the prospect’s pain points. If the offer is not the solution the prospect needs, then there is no sale.

The closer also asks questions to learn more about the prospect’s budget and timeline. Some prospects may think that a $5000 or $10,000 program is a huge investment. The closer handles the prospect’s objections and answers questions the prospect may have. For example, a $10,000 program may seem like a big investment, but if the prospect can 10x their revenue from $100,000 to $1,000,000 as a result of the program, then they will see the value of the investment.

Most entrepreneurs realize they need closers when they’re scaling their marketing. Share on XTheir ad doesn’t increase sales, so they bring someone on to close the sale. If the closer isn’t trained to close high ticket offers, they will struggle to close the deal.

Having a Closing Team

The way to scale quickly is to have access to a group of trained closers who are ready to talk with prospects as soon as you ramp up your marketing and have the leads. If you have enough closers to follow up with the increased lead flow, you don’t have to lower your marketing budget or pause your ad.

You always want to have more than one closer even though you might just need one to scale. This way if one leaves, you have a replacement.

At my company, we have over 100 closers to close our own programs and products, so if one leaves, there are 99 to replace that particular person. That’s how we are able to scale quickly. We have enough skilled closers to close prospects on the phone after they’ve seen our ad or watched our masterclass.

5. Hire Rainmakers That Are Hungry

You’re not going to find good salespeople the traditional way. I’ve gone to sites that run ads. The problem is any salespeople that are looking for a job are not good salespeople. If they were good salespeople they won’t be looking for a job. The best salespeople are already making good money and commissions.

The best salespeople are also hungry. If you hire a salesperson and pay them a base salary and even some kind of bonus, they can’t even close. A good salesperson is like a hunter. They believe that, “You eat what you kill.” A bad salesperson is not hungry. Most of them want safety and security. They become the typical salaried person that isn’t motivated to bring in sales. A good closer needs to be commission based, not on a salary. The more they close, the more sales they make, the more money they make. The sky is the limit for their income. They are even able to sell at a higher price point. If you do find that superstar that is producing a lot of sales, that person becomes your rainmaker.

6. Hire Qualified Closers

After you find closers, how do you know if they are good? One way is to role play with them. Play the prospect and ask them to sell you your product or service. Give the closer different objections and listen to how they handle those objections. Do they sell like a typical salesperson? For consultative sales, they need to sell more like an enrollment coach and not push the sale.

Find out more about their closing philosophy. Do you want them to have a Wolf of Wall Street angle? Do you want them to just get the money? Or do you want them to sell to the customer only if it’s a good fit? You don’t want customers who never want to hear from you again.

Also, while they are closing for you, pay close attention to the sales that they don’t make. Are they pissing off the customers or forcing them to buy something? You don’t want a salesperson who could ruin your reputation and relationship with your customers without your knowing it.

7. Have an Offer, a Flow, and an Army of Closers

If you’re thinking of scaling your business, think of a triangle, because you’ll need three things.

First, you need a scalable offer, an offer you can deliver to massive numbers of people without more infrastructure. Maybe it’s software. Maybe it’s a digital product. It’s something that you can sell to one person or 10,000 people while your work is essentially the same.

Second, you need consistent lead flow. It can be through social media, pay per click or even an infomercial.

Third, you need closers that can close. If you have a scalable offer and steady lead flow, you can add more closers and have 100 to 400 thousand dollars more to your revenue. Next, you can take your profit and reinvest into that lead source so you can scale and get more leads. And then you hire more closers, get more leads, hire more closers. Before you know it, you’ve got a pretty decent sized business.

Summary

Should you scale your business? Some business owners make the mistake of scaling their business as soon as they can to try to maximize their revenue. However, there are many factors to consider before you scale, such as your profit margin.

Businesses that have a high ticket offer that is infinite have a higher chance of scaling successfully. They also invest more into their lead flow.

Once a business has a steady stream of leads, they can hire a team of trained high ticket closers to close deals for them. These highly trained salespeople are like enrollment coaches. They will close the sale only if the prospect is the right fit for the offer.

They are paid by commission only, so everyone wins when an offer is closed. This means the prospect invests in an offer answers their needs, the closer has made a commission, and the business has a sale.

Are you making six figures and you want to take your business to seven figures and beyond? Do you want to take your business to the next level and generate predictable and sustainable ROI every month? Click on this link to find out more.

How Disney Movies Are Driving Sales And Breaking World Records Using Nostalgia Marketing

August 1, 2019 by Dan Lok Leave a Comment

Is there any feeling more heart-warming than that of settling down to watch one of your favourite Disney movies from childhood? There are two things that might feel even better: Watching a clever and entertaining remake of your favorite childhood classic, and making billions of dollars.

Disney is doing it right, having made over $2 billion off remakes in the first seven months of 2019 alone, with the three live-action remakes of Disney classics released this year. Dumbo grossed over $350 million since its March 2019 release.

May’s remake of Aladdin has grossed over $1 billion, and even features A-list actor Will Smith as the genie. Most recently, July’s The Lion King (a remake of the 1994 classic film) has already grossed a whopping $1 billion in less than 3 weeks.

Did you know that Disney actually broke a world record this year, with their colossal box office sales? Before we get to that, Let’s talk in general terms for a minute.

In general, very few films will ever earn $1 billion at the box office, and yet Disney has already done it four times in 2019 alone. That’s right: The Lion King is Disney’s fourth billion-dollar film this year.

Other Disney films that have grossed $1 billion at the box office this year include Avengers: Endgame, Captain Marvel and Disney’s live action remake of Aladdin.

The impressive sales from Disney movie remakes this year is not a fluke. Disney has been thriving on this business strategy of nostalgia marketing for several years now. 2010’s Alice in Wonderland, 2016’s The Jungle Book and 2017’s Beauty and the Beast each earned over $1 billion.

Remember what I said earlier, about how rare it is for any movie to cross that $1 billion mark? It really makes you wonder what Disney’s secret formula is.

In less than a decade, Disney has amassed more than $7 billion in revenue from its remakes of classic Disney movies. Share on X

If you include Disney’s other productions, such as their film adaptations of childhood comics, then Disney has actually amassed over $7 billion at the box office this year alone. It isn’t just the box office where Disney scores, though.

Revenue also streams in from cross-promotion with other brands and through related Disney products such as toys, food, and clothing with trademarked images of popular Disney characters.

Selling a Feeling

Let me ask you something: What do you think the secret to Disney’s success is? You probably already know that successful marketing involves selling a feeling. Lately, it seems like selling the feeling of nostalgia is the path to success. This is what’s known as nostalgia marketing, and believe me, it works.

So, what do products that evoke emotion and nostalgia (such as a remake of a beloved childhood classic) actually accomplish?

These products produce gratifying emotional experiences that drive customer loyalty, positive perceptions of the brand, and lots of purchases.

Nostalgia marketing appeals to our wish to return to an easier, simpler time with less responsibilities and more acceptance. Disney has been capitalizing on this emotional desire by bringing audiences films that connect us to our past while providing a modern spin for novelty and entertainment value.

With Disney looking ahead to a full slate of remakes in the near future, let’s explore why nostalgia marketing is so lucrative, and how this strategy could be used in other industries, by other companies:

Disney: King of the Box Office

The sheer genius of Disney’s marketing strategy is proven in its record-breaking box office sales. The Lion King, released July 19th of this year, was the highest domestic opening for a Disney remake so far, beating out Disney’s past mega-successes like Beauty and the Beast.

Disney didn’t just beat itself – The Lion King was in fact the biggest July film opening of all time. It is no surprise that Disney plans to continue with this strategy of nostalgia marketing.

Remakes in the works include: a sequel to Maleficent coming out later this year, a reboot of Mulan, and then there’s Cruella which is based on the Disney classic 101 Dalmatians set for next year. Remakes of Pinocchio, The Little Mermaid, Peter Pan, and others are also in progress.

Image Sources: Stumbli.com and Disney.es

Disney is using a brilliant combination of nostalgic stories, celebrity actors and voice actors, and multi-level marketing to soar to the top of the box office.

The strategy of reviving classics works by creating an ongoing relationship of customer loyalty through nostalgia is working.

Audiences want to share these classic and re-made films with others, and re-live these cherished stories and characters through the modern remakes as well as through products and experiences like Disneyland.

Movie remakes pull at the heartstrings of many.

For example, there are Gen X parents who grew up watching the classic versions of these films. Parents will want to bring their children to see the remake, to enjoy a shared experience and show their children the stories they loved as a child.

Millennials, on the other hand, still remember the childhood classics fondly, and they get to re-live it when Disney releases a remake, which is exciting for them.

Some millennials not only watched the original version of the films over and over again as children, but even dressed up as their favorite Disney characters for Halloween, whether they dressed up as Aladdin or Princess Jasmine from Aladdin or Belle from Beauty and the Beast. It doesn’t get much more nostalgic than that.

For younger viewers, these remakes could be their first exposure to the brand and story, and the nostalgic aspect may be lost on them, but they can still be aware of the hype of memory and sentimentality from those who do remember the originals.

In this way, remakes can appeal to multiple generations and be a shared collective experience within families and society.

The key to Disney’s use of nostalgia marketing is that they are doing more than simply repackaging the original movie.

They are creating a modern and engaging new experience with the incredible digital animation technology available today.

And because a little Beyonce makes everything better, Disney’s use of high-profile celebrity actors and voice actors is adding to the hype and excitement.

Sean Bailey, co-President of Disney, told Vulture magazine in 2017 “Maybe if there’s a way to reconnect with that affinity for what those characters mean to people in a way that gets the best talent and uses the best technology, that could become something really exciting. It feels very Disney, playing to the competitive advantages of this label.”

There is no doubt that Disney’s approach is working: the 11 remakes that they have made since 2010 have grossed over 7 billion dollars.

Who Loves Remakes, and Does Anyone Hate Them?

We can imagine that Disney is more than pleased with their profits, but how is the public responding to this slate of remakes? The answer is mixed, because where there is love and excitement, there are always haters as well. Given the box office successes, it is obvious that huge numbers of the population are eager to fork over their hard-earned dollars to see these new reboots.

The movie industry isn’t what it used to be, with the increasing cost of movie tickets and the competition from Netflix and other streaming services, but people seem to be keen on seeing Disney movie remakes in theatres.

Clearly the ticket sales speak to a great deal of public enthusiasm, but why? For many, there is a thrill in getting to see an updated version of a classic, re-imagined with celebrities they know and love as well as eye-popping 3D animation.

So, what are the haters saying?

We can’t acknowledge the enthusiasm without acknowledging the hate, since every brand will have its haters. In Disney’s case, some people are more skeptical about the trend of remakes, seeing it as a cynical ploy by Disney to make easy money by rehashing tested and true stories rather than taking the risk of coming up with new content.

One fan writes about The Lion King remake, “the rhythms of African drums were drowned out by the sound of Disney cashing checks” and later said they were left feeling used for their fandom.

Much of the fan backlash centers around this sense that Disney is being “lazy” and that remakes are just a cash grab. Some disappointed fans on Reddit have complained, ”the lack of new, original ideas is frightening”.

Others have defended Disney, or at least pointed out that the trend of remakes in not surprising, as ”Disney has always been about adapting, not making original content.

This is just them doing what they always have done.” Another Reddit user points out how many classic Disney films like Alice in Wonderland were not original to begin with, and were adaptations of old legends and folktales.

In other words: modernizing, repurposing and enhancing old stories is nothing new for Disney, and it’s indisputable that this strategy works.

Many of Disney’s ‘haters’ still did fork over their money to see the remake simply out of curiosity – and therefore added to Disney’s profits. Go figure.

Image Sources: HellHorror.com and iMDB.com

The Role of Emotion in Your Purchasing Decisions

Let’s talk about emotion, and the role it plays in your decision to actually make a purchase. When you make a decision to buy a product, or to buy a ticket to see a film in theatres, what do you think influences your decision-making process?

Many of us see ourselves as being rational actors, making our choices from a thoughtful, calculated place. It may come as some surprise then, that according to a recent study by neuroscientist Antonion Damasio, approximately 85 percent of our decisions are driven by emotion.

If you were to look back at the purchasing decisions you made this week, in hindsight you might realize the emotional forces that were unconsciously at work. You might even recognize exactly which emotions were at play when you were making certain purchases.

If 85 percent of our decisions are driven by emotion, then it makes perfect sense why Disney’s strategy of nostalgia marketing works. Share on X

This statistic from Damasio shows us something very important: In order for marketing to be persuasive, it will require an emotional trigger.

In light of this, successful marketers in any business must know how to tap into the emotional states of their target customers, because pressing a prospect’s emotional buttons could result in a sale.

For a customer to be willing to purchase a product, spend a higher price on a different product, or purchase it repeatedly and become a loyal customer, it is essential to build an emotional connection to the product or brand.

According to a 2016 study from Ju, I., Kim, J., Chang, M. J., & Bluck, S. entitled Nostalgic marketing, perceived self-continuity, and consumer decisions, experiential marketing uses atmosphere and associated emotions to sell a product, rather than just relying on the material or quantifiable properties of the product itself.

While emotional in general is the primary driver in purchasing decisions, one emotion in particular has come to attention as a marketing powerhouse: nostalgia.

Nostalgia: A Powerful Emotional Driver in Today’s Marketplace

Have you ever noticed that some of your favourite songs – the ones that evoke the most emotion when you hear them – happen to be the songs you loved in your teens or early 20s, rather than your latest modern favorites? Despite having perhaps discovered “better” music since adolescence, for some of us nothing beats how we feel when we hear a classic hit from the ’90s.

This emotional response makes sense, based on the research into nostalgia from Psychologist Petr Janata, who in an interview with Slate, stated that our musical preferences are “consolidated into the especially emotional memories from our formative years.”

Our favourites and tastes are formed as a teenager and young adult, so products that harken back to that time of life are most likely to create a positive emotional state and draw us towards the brand.

For millennials who grew up in the 1990s and early 2000s, any product or entertainment that reminds them of that era will evoke nostalgia and positive feelings.

This explains why Disney films like The Lion King, Aladdin, and The Jungle Book (all of which were originally released in the mid-1990s) will appeal to millenials and younger Gen-Xers as remakes today.

If you remember watching these Disney classics as a child, then even just seeing the trailer of the remake might bring you back to a Friday night when your parents let you eat pizza in your pajamas and watch The Lion King with your friends. This is how nostalgia marketing works.

Nostalgia marketing aims to remind you of your youth, a simpler time, and it stirs up the longing for the feelings you associate with that time: Safety, belonging, connection, hope and joy.

Is it any wonder why these nostalgic Disney films and products are so enticing?

You might still be wondering exactly how nostalgia works so effectively as a marketing strategy. An increasing amount of research has been done on this exact question.

Nostalgic products bring up a sense of what Hartmann and Brunk’s research from 2019 Nostalgia marketing and (re-)enchantment refer to as “a sense of enchantment” meaning exciting, magical feelings that can be irresistible to consumers.

Feelings of nostalgia arise from sounds, smells, sights, and tastes associated with past times.

Nostalgic marketing directs people to products that can transport them back in time. It’s this alluring sense of being sent back to an easier time or returning home that holds such power.

Part of the power of nostalgia is that it contributes to our sense of personal continuity, a positive feeling that our self-identity is still connected to our past. When we see a film or buy a product that reminds us of our childhood, we feel this positive continuation of a sense of self and identity.

The 2016 study from Ju, I., Kim, J., Chang, M. J., & Bluck, S. entitled Nostalgic marketing, perceived self-continuity, and consumer decisions showed that advertisements appealing to a nostalgic past “led to more favorable ratings of brand attitude and greater intent to purchase the product” – results which were seen regardless of the type of product.

Have you ever wondered why seeing or buying something that evokes nostalgia makes you feel better, or why you feel warm and fuzzy inside?

When feeling lonely and disconnected, nostalgia-inducing products and experiences can counteract feelings of loneliness and disconnection, by linking us to a time and experience that we know is enjoyed by others and was also enjoyed… Share on X

A retro product or a remake of a childhood classic film can give us a hit of this sense of belonging, peace, and joy.

According to nostalgia expert Dr. Wijnand van Tilburg, nostalgia marketing works for “people who lack in the moment a sense of belonging, or feel a bit meaningless.”

Nostalgia marketing may be especially effective for millenials, many of whom are feeling disconnected, anxious, and long for a sense of comfort and belonging.

Products that link us to our positive memories inspire stronger emotions, which as we’ve learned drive our buying decisions.

We often look back on the past more positively, and those childhood memories can distract us from real-life stressors by bringing about a sense of comfort, peace and security when we are anxious or uncertain about the future, as well as an escape from feeling lost or stressed in the present.

Benoit Wiesser, the Chief Strategy Officer for Ogilvy, was quoted in the Business Times explaining that nostalgia works by “tapping into a tension that people feel, and giving them a slice of the past to soothe them.”

Not Just Disney: The Wave of Nostalgia and Retro Trends in Today’s Entertainment World

How do we explain the ongoing success of Friends or that it’s still one of the most popular shows streamed on Netflix even amongst its modern-day competitors? Or, how about the level of interest in TV shows like Stranger Things set in the ’80s and ’90s? Throwback entertainment that is nostalgic for Millenials and Gen X-ers is everywhere we look.

Disney is not the only company capitalizing on the power of positive past memories or nostalgic associations.

Many other film remakes have been wildly profitable lately, including Blade Runner and Jurassic Park, not to mention the ultra-successful empire of comic book film adaptations and reboots such as Spiderman and Batman. Of the top ten grossing films in 2016, eight of them were reboots or connected to a pre-existing franchise.

Other reboots of TV shows such as 90210 and Twin Peaks have been very successful as well.

Beyond the screen, nostalgia also works powerfully in music. Bands such as Backstreet Boys and The Smashing Pumpkins have had majorly successful reunion tours that sell out and excite fans who grew up listening to their music.

What Other Industries Capitalize On Nostalgia Marketing, Besides Entertainment?

Entertainment isn’t the only industry where a throwback goes a long way. Pepsi and Coca-Cola have experimented with re-creating their old designs and bottles, and these brands have certainly found that it pays to throw it back to old school designs.

Ask yourself this: When you suddenly saw the vintage-looking glass bottles of Coca-Cola in stores, did that evoke a sense of nostalgia or a desire to buy coke?

Pokemon Go capitalized on the nostalgia of Millennials who grew up playing Pokemon. Nintendo has relaunched and sold out a reboot of its 1980s classic console. Whatever industry you’re in, nostalgia marketing could probably work for you, too.

Schiemer and Carlson’s 2017 research in Nostalgia, irony and collectivity in late-modern culture: The ritual watching of The Disney Christmas Show in Scandinavia found that there has also been a resurgence in retro culture, with renewed interest in products like vinyl records, polaroid cameras, and the cars and fashion of bygone eras.

For Boomers and Gen X-ers these retro products could be personal nostalgia, as they have individual memories associated with them. For Millenials, the interest may stem from what is called historical nostalgia: a curiosity about an era they weren’t a part of, or a longing to be transported back to a different time.

It could also be a form of nostalgia that is more playful or ironic, where we find humour in the objects and fashions of the past. (Schiermer & Carlsen, 2017.)

How Can Your Business Take Advantage of the Power of Nostalgia?

Now that you know how nostalgia marketing works and how well it is working for Disney, the next question is: how can the rest of us capitalize on this phenomenon?

The lesson of Disney and some of the fan backlash demonstrates the importance of being genuine in your approach, or risk the perception of using nostalgia as a cash grab or out of creative laziness.

If you are attempting to drive sales using nostalgia, you should be careful with the tone you strike in using it. If it is overdone, then audiences and consumers will see through it and be turned off.

The key to using nostalgia is taking what is beloved from the past and subtly finding a way to harness those positive memories, while providing a product or experience that is still inventive and rewarding. Share on X

Success comes not just from invoking any material or object from the past. It is essential to understand your demographic – what were they watching, playing with, listening to, and wearing in their formative years when preferences were developed?

There are no doubt many more products from the past few decades that are untapped nostalgic potential for creative marketers.

Savvy marketers will know how to use the ThrowBack Thursday and FlashBack Friday (#TBT and #FBF) hashtags on social media to promote their retro or nostalgic products, and tap into online trends.

Designs, logos, and slogans from the past can be used to stir up the ‘good old days’ memories of consumers. In general, brand logos with a retro design could generate positive emotions on their own, without even seeing what the product is yet.

Summary

Disney broke a world record in box office sales this year, and it’s largely to do with its nostalgia marketing strategy, involving the remakes of classic Disney movies.

The decision to buy something is largely driven by emotion, and nostalgia is an example of a positive emotion that influences purchasing decisions.

It’s really simple, isn’t it? We want to buy what we think will make us comfortable and happy.

Brands that can draw us in with nostalgia result in us connecting their products with our past memories and our more positive sense of self.

Brands like Disney that have mastered the strategy of nostalgia marketing are reaping the rewards in sales and brand loyalty.

Often when we think of business, we think of brand new ideas. The research into and demonstrated the success of nostalgia marketing shows us that with some creativity and strategy, past sentiments can be great for business.

5 Stages Of Market Sophistication: How To Stand Out From The Competition

May 24, 2019 by Dan Lok Leave a Comment

Photo credits: rvlsoft / Shutterstock.com – Anton_Ivanov / Shutterstock.com and Paolo Bona / Shutterstock.com

Isn’t it true that someone who has bought a smartphone will be more skeptical and demanding than someone who has never owned one before?

Your experienced cell phone owner will have a lot more questions and objections than your first time phone owner. So how can you as an entrepreneur, a business owner, communicate a marketing message that speaks to your customer, depending on their experience level with a type of product?

This is the biggest challenge that most entrepreneurs face when communicating a message: they don’t understand the five stages of market sophistication. They communicate exactly the same way with their customers regardless if it’s stage one or stage five. So what do I mean by the five stages?

These are a way of describing the amount of experience a customer has with a product, such as a cellphone. Once you see the distinction in the five levels, you see why the typical marketing message – one-size fits all message for everyone – doesn’t work.

Let’s take a look at the five stages of market sophistication and how applying these levels will distinguish you from your competition.

Watch this video about the five stages of market sophistication.

Eugene Schwartz: How To Make Yourself Number One

One of the greatest copywriters back then, Eugene Schwartz, came up with the market sophistication concept. He wrote a book called Breakthrough Advertising, which I would say is one of my top three marketing books that I have in my library. It’s out of print, but I think I brought mine for $500 on Amazon.

Here’s the key to Schwartz’s concept. You must market your product or service depending on what stage of sophistication your market is currently in.

By “stage of sophistication,” I’m talking about how long that type of product or service has been around, how many competitors you have, and whether your customers are jaded.

It’s important to understand market sophistication because you always want to aim to be number one or number two in the marketplace. It doesn’t mean you have to be the highest quality. Instead, perception is more important than reality. What does that mean?

You’ll notice that in any category, any industry, the top one or two people or companies make the most money. In fact, the top 10% of any industry make 90% of the money. And 90% of the business owners make 10% of the money in any industry.

It doesn’t matter if what you sell is a product or service, but you should aim to be number one or number two, even if you have to create your own category. For example, instead of calling yourself the “number one realtor in the universe” or the “number one realtor in Vancouver,” narrow down the category and become “the number one expert in this neighborhood.”

The Advantage Of Being First

Being first has a huge advantage. Have you seen those cola blindfolded taste tests for Coca Cola versus Pepsi? You’re supposed to guess which drink sample tastes better. Pepsi is always saying, “Seven out of 10 say our cola tastes better than Coca Cola.”

However, it doesn’t matter. Pepsi will never beat Coca Cola because Coca Cola was on the market first. When you think of cola, you think of Coke, you don’t think of Pepsi.

Because they knew the competition was too fierce, Red Bull decided not to compete with Coca Cola. They went for the first market advantage in the new energy drink market, and they promoted themselves in that category.

Red Bull started with the saying, “Red Bull gives you wings.” Then they stopped focusing on this message when more energy drinks came on the market. Now, they sponsor extreme sports events. The brand has evolved and they have more attitude.

They’ve evolved through the stages of marketing sophistication, which began at stage one when they simply announced themselves to the marketplace.

Stage 1: Announcing Your Arrival To the Marketplace

At the first stage, you are simply saying, “Hello market. I’m here!” You’re very simple and very direct with your message.

It’s similar to saying, “Hey, I’m a mortgage broker. I’m a real estate agent. I am a grand master. I’m an accountant.”

At stage one, the marketplace hasn’t seen this type of product or service before. A simple, short announcement will suffice. And since you have very little competition, your innovation is enough to capture the market.

For example, a simple, direct message can be, “Hello, my business is _____. My market is_____. I do this_____. So buy from me.”

An example of stage one advertising is a full page ad in a print publication for a weight loss supplement. The message is basically take this pill and you lose weight. They say, “I’ve got this pill. Take it and you lose weight.” Very simple and direct.

Another example is a computer ad from many years ago. It said, “Personal computer for under $200.” It’s a simple and direct message. It’s not an iPad but back then, a computer for $200 was already a big selling feature.

Then, as the market evolves, your marketing needs to evolve too.

Stage 2: Features, Benefits And Claims

At stage two, you’re getting more competition, so your direct claim isn’t enough. You need to outbid your competition with features. Now you’ve got to communicate with the marketplace why your product or service is better.

You need to take your original claims and your promise and enlarge them. You need to explain exactly what it is that makes you better.

Here’s the weight loss example again. It says, “Take this pill and you lose weight in seven days or less.” You’re more specific about the timeframe. It’s not enough to just say the customer will lose weight.

Here’s an example from Apple. They are saying every child should have an apple after school. They also say, the Apple computer “is easy to set up and learn, and it comes complete with almost everything you need to start computing in one box including a free easy to use course.”

It also has 128K of internal memory and built-in hard drive. Back then, it was a huge deal to have that much memory. That made the Apple as powerful as the average office computer!

At stage two, the descriptions of your product or service are longer, the market is more sophisticated, and you need to explain more than why you’re better than the competition.

Stage 3: How Does It Work?

At this stage, you’re telling the marketplace more than what you have and why you’re better than the others. You’re explaining how your product or service works.

Consumers are getting more skeptical by stage three. They’ve become more jaded from exaggerated claims made by the growing group of your competitors, selling pretty much the same thing as you.

To get ahead of the competition, you need to get a new mechanism to make the old promise work. What does that mean?

It means you need to reframe it. You’re saying, “Hey, here’s what we do, here’s how we’re different.” Then you’re adding one piece of information that the customer might not know about what you do, and you tie it back to your claim.

Here’s an example. “Take this pill that blocks the absorption of fat in your intestines, and you lose weight in seven days or less.” You’re now backing up the claim with a mechanism, not just, “Here’s the benefit, but let me tell you what makes this pill different because this pill blocks the absorption of fat in your intestines. That’s what makes this different from the other pills.”

Brands that enter into a saturated market need to already need be at this level. To get to stage four, you must focus on defeating the competition.

Stage 4: Crush Your Competition

At this stage, it gets more competitive. There are so many choices out there with people doing similar things as you. So now not only do you have to promise more benefits than your competitor, you need yet another mechanism.

These days, the internet is making it easier for entrepreneurs to start their business. But with market saturation and massive competition, it’s much harder to gain visibility. Some experienced entrepreneurs are charging barely anything just to get a customer.

The barrier of entry is also easier to start but it’s more difficult and takes more skill and money to succeed. That means the strong will survive and the weak will fade away.

I like that competitive environment. To stand out, a new mechanism must be created that is believable and significant by your market and you must promise more benefits. At this point, your prospects have heard it all and competitors start dropping out like flies.

Let’s return to the computer example. At the early stages, when personal computers were getting more competitive, Steve Jobs asked, “What makes it tick and talk?” That was the new mechanism. A computer that freaking talks.

Only one thing was needed to differentiate their computer from everybody else, and that one thing put them in the headlines.

At stage four, they had the Apple versus PC ads. Apple was for the cool guys. They were the cool bunch. At the time, they claimed, “Last year there were more than 114,000 viruses for PCs not for Macs.” It was a direct claim to say PC sucked and they were better.

By stage four, the competition is getting fierce. If you want to distinguish yourself from your competition at this point, then you must evolve to stage five.

Stage 5: Become Iconic

You don’t want to be just one in the marketplace. You want to be the one.

The marketplace place knows so much about the industry, they won’t buy into whatever you have to claim or hard sell anymore. They’re just so skeptical. This is where you sell on how your brand services only specific types of people and you encourage them to buy into the exclusivity.

You’ve heard the question before: are you a Mac person or a PC person? It’s usually half and half when you survey a random crowd of people. Both products serve a certain segment of the marketplace.

Macs for artists and designers and cool people. PCs for geeks and nerds and gamers and corporate. Microsoft office for businesses. As you can see, it’s two very distinct markets.

You’ve got to be clear which market you’re going after. There’s a shift from features to identifying who your customer is, who you serve, and who your product is for.

Remember when Steve Jobs introduced the first iPhone? “It’s an iPod, it’s a phone, it has internet.” People were freaked out. They didn’t realize you could have all that in one device.

That’s iconic. The product is totally different and made history.

Here’s another example using diet pills. “Super powerful diet pills make comeback. They’re flying off the shelf, but they’re not for everyone.” The exclusivity makes people wonder who they are for. They also want to know why they are flying off the shelves and why the pills are selling so well.

Final Thoughts On The Five Stages Of Market Sophistication

In the marketplace, there is a tremendous advantage to being first. You don’t have as much competition, it’s easier to be number one, and your customers are more easily wowed by what you have to show them.

As more competition enters the market with similar products and services, you will need to talk about your features and benefits. It’s not enough to say that you exist. When an increase in similar products and services enter the marketplace, your customers will become more skeptical.

At that stage, you must explain how your product works. To defeat your competition and stand out from them, you must introduce a new mechanism. How is your product or service different from the rest? And finally, at stage five, you become iconic. Customers buy your product or service for the exclusivity.

Which ad do you consider iconic? Comment below.

How to Use Niche Marketing to Grow Your Business

May 4, 2019 by Dan Lok Leave a Comment

What if I told you I was looking for companies that deliver food or medical supplies and they only deliver to remote areas inaccessible by transportation? A fairly specific request, isn’t it?

That’s the nature of niche marketing – because if you’re selling to everyone, you’re not selling to anyone. It’s a real product by the way- drones that drop off food and medical supplies to remote areas by parachute. Marketing to businesses looking for this technology is very specific, very niche.

To be effective at your marketing, you want to specialize by profession. This is the most basic specialization and it’s ideal for service professionals. It means identifying a niche within a profession and owning it through promotion and personal brand development. You’re just working on one segment in the marketplace.

To be effective at niche marketing, you can implement any of these strategies: first, target a very particular segment of the market, second, gain an incredible advantage by becoming the competition, and third, create some mystery when describing what it is that you do.

Watch this video about using niche marketing to grow your business.

1. Be Clear About Your Target Market

To find your niche market, be explicit about what type of client you are looking for.

For example, Ken was in internet marketing for 17 years, and he was just dealing with anybody that would work with him in any area of business.

Before he started working with me, he noticed a significant part of his business – 40 to 50 percent – was with real estate agents. So I told him not only to forget everybody else, but to exclude everybody else.

We formed a company that specialized in internet marketing for realtors. It was a pretty big market. I also suggested that he write a book about the topic. After he formed the new company, he also had a new, improved business model.

The company name that he had before was called “Standard Marketing” which was as attention grabbing as a blank wall. So we changed it to “Top Agent Internet Marketing.”

The new name tells all, including who we serve.

We also have a book called Sold. It has a very powerful image for a real estate professional. The sub headline, which I came up with, is “How top real estate agents are using the internet to capture more leads and close more sales.”

The book title is very clear about the target audience.

I just put a description of the target audience right in the headline.

If you’re a plumber, are you going to read that book? No. They’re not our target market. Not unless the plumber is curious about a career in real estate.

But a real estate agent will look at it and think, “Oh that’s interesting. I should read that.” Being specific about your target market will get you much stronger results.

2. Be Your Client’s Competition

Strategy number two is a subtle, pressurized kind of marketing but it’s effective.

I want to share the story of my long time partner and client, Matt. Again, we have a specialized niche. We only provide digital marketing services for audiologists and medical professionals.

There aren’t that many of them but because we only provide our service to them, we absolutely dominate the market. We are number one and the company in second place is very far behind.

We’ve been leading their industry for a long time. We have more clients, we charge more than anybody else, and we provide a whole list of services just for that market. We started off locally and then spread out across North America.

Behind the scenes we only work with certain clients in certain cities. Our marketing is not the typical kind. We turned the tables around. Instead of telling potential clients we do digital marketing and telling them about our services, we do the reverse.

We say that in each city and in each geographical area, we only work with one clinic. If that clinic doesn’t want our services, we call their competitor.

This strategy makes it a lot easier for us to sell our services. We also do recurring. Our clients pay us anywhere from $2000-$3000 per month, sometimes up to $5000 a month to do their marketing.

We offer this recurring deal through a signed 12 month agreement. After a year they can quit anytime. But if they cancel, we call the nearest clinic to them and they’ll become a client instead.

We actually have clients say, “Damn, you guys, I’ll just keep paying you.” It’s a much easier solution. They just want to make sure their competitor doesn’t have us on their side.

Understand Your Target Market

Now I have something that I must confess. I don’t know every industry.

I’m not a realtor or an audiologist. But I have my edge because I do more research and study more than anybody else. As a result, in a niche that’s unfamiliar to me, I still understand the market.

So although I’m not a real estate agent, I can tell you I know their business inside and out. I know their frustrations, what their pain points are. What they’re looking for.

I know their goals and desires. Because I learned to speak their language, they feel like I’m one of them. It’s the only way to be successful in unfamiliar territory.

There is a lesson here as well. I want to tell you about Gary, a realtor who isn’t just any realtor.

When you introduce yourself at a business event, don’t say, “Hi, I’m a realtor.” What’s the reaction of people around you?

You’re just another nameless face of yet another realtor. Gary and I came up with an elevator pitch. It’s this. Instead of saying you’re a mortgage broker or a consultant, you say something more specific. Here it is.

The Niche Elevator Pitch

“I’m a real estate professional. I specialize in working with investors, where we generate big profits through a buy and hold or buy and flip strategy. I often generate long-term wealth through a buy and hold strategy as well as various hedge fund strategies… I go into more detail in my book, The book on Vancouver Real Estate.

A book can be more effective than a business card.

It’s pretty clear who he serves and you don’t feel like he’s just another realtor. If I want to buy my first home, maybe, he’s the right person for me, maybe not. But he’s very clear, who he works with: investors on either buy and flip, short-term, quick profit. Or long-term wealth, buy and hold.

And if you have more questions, read his book. This also tells you that he’s an author. By saying he’s a real estate professional your mind doesn’t close off. You don’t instantly jump to the conclusion that he’s going to sell you something. Instead, you wonder, what does that title mean?

Is he an investor? Realtor? What exactly does he do? Then he can go into his specialization to answer the questions in your mind. When he has your interest, he then says he has a book if you want to know more.

Do you see the difference? There are so many realtors out there. So many realtors haven’t even learned how to talk about what they do in a 30 second elevator pitch.

Now remember I said I’m not a realtor. Gary, however, is. But I understand the industry. My edge is when I go into an industry to gather information. I go nuts.

I read the publications and I attend the trade shows to learn their language. I talk to a ton of realtors and take a lot of notes. That’s how I win.

I gather as much intelligence, or data, about the market as I can. Your wealth is in direct proportion to how well you understand your marketplace. Some people have been in their market for a few years, yet they don’t actually understand their market that much.

There are no excuses for not being informed, not if your wealth depends on it.

Final Thoughts On Using Niche Marketing

The key takeaway here is that even if you’re not familiar with your niche, you still need to be familiar with the market. That means that even if I’m not a realtor, I must study the marketplace for realtors.

If you don’t understand the target market, you won’t be able to communicate with them. Have an elevator pitch handy that will tell potential clients what it is that you do. Have an element of mystery about your description so the client will want to hear more.

You want to stand out from the competition. You can even beat your competition by telling your clients that if they don’t do business with you, then you will do business with their competitors. This is how you dominate in the industry.

Which strategy do you like the most? Comment below.

How To Find Your Signature Speaking Style

April 24, 2019 by Dan Lok Leave a Comment

“All public speaking is, is speaking to one person at a time in front of many people.”

This is just one of the million dollar speaking tips from ForbesSpeaker Deborah Patel. She’s the secret weapon, coach and mentor behind many of the world’s best-selling authors, experts and leaders of Fortune 500 Companies.

I asked her, “How to develop your signature speaking style so you can connect on a deeper level with your audience?”

The advice she gave provided the tools to become a speaker at the professional level, starting with how to work the room.

Watch this video about Deborah Patel’s Signature Speaking Style Tips.

Having The Personal Touch

She said that great public speaking is having a conversation with one person at a time in front of many people. As you make a connection with one person, you move on to the next person at the next table or the next section.

You make eye contact like you’re touching – making contact – as you work your way across the room.

Stay in one direction, and don’t go back and forth like you’re watching a tennis match. You want to give the impression that you are open and vulnerable, sincere and genuine, and humble. Especially in Asia where being humble is key to gaining trust.

You want to be sincere and have a connection with the audience by being able to feel what their concerns are. If they have a question they need answered, you can sense it.

The last impression you want to give is that you’re speaking to sell them something. Instead, you’re speaking to serve a need, and people will recognize that purpose through your connection with them.

If you have that sense of connection, then with one glance, even to someone at the back of the room, you’ll know that person is with you and following what you’re presenting.

Your true mastery as a public speaker shows when you are speaking in front of thousands and you can be flexible. Flexibility is key when you have audience participation.

Audience Participation

When you have a presentation in front of 5,000 to 10,000 people, you can do your opening and cover your main points and issues with the entire group. Then in the middle of your keynote, you can open it up for questions.

It’s a bit dangerous because you have to really know your content. You don’t know what the audience may ask. But for Deborah, it’s both scary and fun to do something like this, as long as you know your material.

When it comes to presentations, you can use questions as a way to break up the presentation or check in with the audience. For example, at some point in your presentation you can open it up for Q and A.

If you find people aren’t responding, then you ask then to take a moment to get a partner and share their top takeaways from the last 30 minutes.

It may require people to step outside of their comfort zone to have that discussion, depending on how you structure it. You might even have had an activity that requires people to practice a concept from your presentation.

Then you ask the group to share what was discussed in the group or partner activity. It’s a way to engage people and show that you’ve been listening when you ask them if they have questions.

Having a high level of confidence is necessary when you open up your presentation to questions from the audience. It’s also necessary when you are selling to them.

Presentation Confidence and Control

I’ve done platform selling – speaking on the stage to promote a product or service. Your presentation has to be practiced or you’ll lack confidence.

Deborah’s advice for those who sell from the stage is to aim to have more polish. If you’re not confident enough, then your insecurities will show. So when you’re more practiced, then focus on serving the needs of your audience.

I couldn’t agree more. I teach my students in the High-Ticket Closer ™ Certification program to speak with confidence in their voice. If you don’t sound confident in what you’re selling, how can prospects be confident in what they are buying from you?

Someone that Deborah has worked with is T. Harv Eker who is a master of selling from the stage. His style was to push people and irritate them for their own good to get them to buy. He needs that tough attitude to get people to move forward and take the next step.

These qualities are not easy to master overnight. When it comes to speaking and presenting, it takes “many masters to make a masterpiece.” If you’re a lifelong learner, you’ll take pieces from all the greatest presenters that you know, whether it’s T. Harv Eker or Tony Robbins to get the results you need as a speaker.

How To Act Natural In Front Of An Audience

Deborah studies how to be a coach, a facilitator or a trainer for those moments when she’s in front of the room and she needs to put people in a training exercise to master their speaking skills.

She says that what you want to do is reverse engineer everything by starting with the end in mind. You want to ask yourself how you want your audience to feel, what stories you want to tell, and what words to use to get the effect you want.

You’ll also vary the volume of your voice. Lower it, like you do when you’re in a conversation. The lowering of your voice happens naturally when you’re having a conversation or when you’re speaking with your loved ones. You also use that voice when you’re having a good time.

You want to master the volume of your voice and the effect it will have on your audience.

The problem is, when people get on a stage or they get in front of a camera, they stop being natural. Their self-consciousness kicks in. So what Deborah does as a coach is build a tool kit that people can use when they need them.

An example of a tool is when you’re in sales and you have people imagine what it would be like to paint the vision. When you’re creating the vision you need to be seeing the vision of say, financial freedom. Then your emotions create pictures, and your emotions need your voice to create this mood in the audience.

Developing A Sixth Sense

When you’re talking in front of people, then you’re reading them. You’re going to feel what they need to hear. That’s the genius of it.

As you speak more and more, you develop this sense of what’s happening in the room. You could be a room of hundreds and you’ll notice that a group at the back, having a roundtable discussion, has a question that you should address.

It’s this sixth sense that you develop when you make a lot of presentations.

It’s a matter of being present with the room. You have to know your material that you’re speaking about, and be comfortable with yourself and speaking in public. Otherwise, you will not achieve this sixth sense level of awareness about your audience.

You will also have to give up on the idea of giving perfect speeches or presentations. You want to be in control and precise about what’s happening but you can’t control everything. There are things you can control, like technology, like the mic, the sound system, and your opening and pacing, but you can’t control everything.

Perfecting Your Signature Speaking Voice

When you’re closing, then depending on what you’re offering, you want to be very careful about the words that you are using to close people.

So if you are not natural at public speaking, then you have to practice it with that intention, that you are honing in very specific speaking skills.

If you want to get better at perfecting your message, then practice the speech of someone you admire. You can also try to copy a motivational speaker. Just choose a speech to copy. For example, practice delivering the last three minutes of Martin Luther King’s speech. Imitate how the other person speaks.

Later on, when you get better at it, then you can start to develop your own style after you’ve learned the basics for good public speaking. So like learning how to sing, copy six different artists that you like and then your own signature style will start to emerge.

Final Words: Finding Your Signature Speaking Style

If you’re not comfortable speaking in front of an audience, then work on developing that talent. Having that magical amount of eye contact, that natural volume in your voice is very important when making a connection with people.

As a lifelong learner, you can start by imitating the speakers who you admire, and then when you improve, start developing your own style.

Know your material well so you can be comfortable giving up some control, for example, when you ask the audience to ask you questions.

When you have enough practice with speaking in front of large groups, you’ll start to develop a sixth sense – you’ll feel what the audience is feeling. All of these are characteristics of a master speaker.

What do you do to connect with an audience when you are speaking? Comment below.

Marketing

The Bandwagon Effect Requires Social Proof

Examples of Social Proof at Work

Relying On Social Proof Indicates Low Self-Esteem and a Desire to Fit In

Using Negative Attention to Your Advantage

Influencers are Leveraging ‘Outrage Culture’ and Using ‘Outrage Marketing’ to Get Attention

The Masses Project Negative Emotions Onto Social Media Influencers

Famous Examples of Influencers Who Used Negative Attention to Create a Bandwagon Effect

Logan Paul Says His Haters React Exactly How He Wants Them to React

People Jump Off The Bandwagon Just As Fast As They Jumped On

In The End, Negative Marketing Hurts Your Brand

Negative Marketing is Not Financially Sustainable

Table of Contents

What To Consider Before You Scale

1. Sell High-Ticket Offers

2. Sell An Offer That Is Infinite

Businesses or Offers That Scale

Businesses or Offers That Don’t Scale

3. Invest In More Lead Flow

Identify Your Ideal Buyer

How much should you spend to acquire your leads?

4. Hire Skilled High-Ticket Closers

The Role of The Closer

Having a Closing Team

5. Hire Rainmakers That Are Hungry

6. Hire Qualified Closers

7. Have an Offer, a Flow, and an Army of Closers

Summary

Selling a Feeling

Disney: King of the Box Office

Who Loves Remakes, and Does Anyone Hate Them?

The Role of Emotion in Your Purchasing Decisions

Nostalgia: A Powerful Emotional Driver in Today’s Marketplace

Not Just Disney: The Wave of Nostalgia and Retro Trends in Today’s Entertainment World

What Other Industries Capitalize On Nostalgia Marketing, Besides Entertainment?

How Can Your Business Take Advantage of the Power of Nostalgia?

Summary

Eugene Schwartz: How To Make Yourself Number One

The Advantage Of Being First

Stage 1: Announcing Your Arrival To the Marketplace

Stage 2: Features, Benefits And Claims

Stage 3: How Does It Work?

Stage 4: Crush Your Competition

Stage 5: Become Iconic

Final Thoughts On The Five Stages Of Market Sophistication

SUGGESTED ARTICLES:

1. Be Clear About Your Target Market

2. Be Your Client’s Competition

Understand Your Target Market

The Niche Elevator Pitch

Final Thoughts On Using Niche Marketing

Having The Personal Touch

Audience Participation

Presentation Confidence and Control

How To Act Natural In Front Of An Audience

Developing A Sixth Sense

Perfecting Your Signature Speaking Voice

Final Words: Finding Your Signature Speaking Style

I hope you enjoy reading this blog post.