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Posted by Harry Lazenby on September 7, 2024 at 5:02am 0 Comments 0 Likes
What is Psychotherapy?
Psychotherapy, commonly known as talk therapy, involves discussing your thoughts, feelings, and behaviors with a trained mental health professional. The goal is to help individuals understand and manage their emotions, improve their mental well-being, and work through challenges or mental health issues.
There are several types of psychotherapy, including:
Cognitive-Behavioral Therapy (CBT): Focuses on identifying and changing negative thought…
ContinueIf you ever attended one of my many Monopolize Your Marketplace workshops, you'll hear me over and over talk about how critical it is to develop DRIP (Disciplined - Repeatable - Interrelated - Process) marketing campaigns.
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What is it?
DRIP marketing is an ongoing marketing campaign that takes a prospect/client down the "Educational Buying Spectrum" over a specified period of time with a premeditated marketing message.
How effective is the process and how does one plan a DRIP marketing campaign?
The phrase drip marketing comes from 코인카지노 the common phrase used in agriculture called "drip irrigation." After spending some time thinking of this nurturing process (I also realized this was a Disciplined, Repeatable, Interrelated, Process hence the acronym DRIP). Think about it. A process similar to watering crops with the right amount of water, fertilizer, sun, and of course weeding over a period of time.
I also spent more than a dozen years working at a catalog company and took note on how many touches we sent out in a 3 year period - 30+. While you may disagree with the number of "touches" it takes to turn a prospect to a client, we can all agree it does take more than 1. There are way too many competitors/sources of information out there, not to think otherwise.
An effective way to use a DRIP marketing strategy is to consistently do something each week, month or quarter to keep your name in front of your current clients and prospective clients. By doing so, you'll solve a few key things in your sales process:
1. The high and lows of the sales curve - yes you will have them but the delta will be much closer.
2. Your competition coming in and stealing the order when they are ready to buy - Face it, sales people cannot be in front of a prospect every day - and there is nothing worse than having a sales person call you and ask "are you ready to buy yet". DRIP marketing campaign can! Marketing's job is to keep your name/solution in the front of your audiences mind so they call you when they are ready to buy.
It all sounds great, but where do you start?
Suppose you're a mortgage company, and you want to develop a DRIP marketing campaign to potential borrowers in a defined target market. The following table gives you an idea on how you might want to develop the content for your DRIP campaign:
o Day 1 - Introduction - gives a brief overview of what the problems, frustrations are in getting a mortgage (helps position you in the marketplace).
o Day 7 - Assessing Needs - Helps them through the process of realistically determining what they really need in a mortgage.
o Day 14 - Financing - A review of the complete pre-qualification process.
o Day 21 - Searching For a mortgage - How to select a mortgage program (based on their credit score).
o Day 28 - What to look for in a Good Faith Estimate - maybe talk about what to look for or look out for.
o Day 35 - The loan process - what to expect and what needs to be done prior to closing.
o Day 42 - The closing table - What you need to bring and ask/have ready to avoid any last minute surprises.
o Day 49 - Owning a Home - Helpful hints on how to maintain, improve, and obtain the highest enjoyment from their newest investment.
The best thing about DRIP marketing is how easy it is to develop an e-mail, direct mail or faxing templates - templates that can be changed based on your target audience or situations so you can convert prospects to clients like clockwork!
The Devil's In The Details
There are two aspects to consider when choosing a DRIP marketing system:
1. The "engine" that manages the entire process;
2. How the messages are sent (medium used).
Both are extremely important.
In addition to the "engine" that runs your campaigns, the content of each campaign message can make a huge difference in the results you will see. Here are a few tips to consider:
o Use Headlines - Use a headline that interrupts the target audience;
o Educate Your Audience - Ideally, your campaign messages are written in a conversational style to build a relationship with the contact - use lots of sub-headlines and bullets in the area (NOTE: It's Not About You and your company - avoid the temptation of including blatant self-promotion -- to do so will greatly undermine your efforts to convert the prospect into a client), and;
o Promote a Low-Risk Offer - It is critical that every message have a low-risk offer so each contact can travel down the "Educational Buying Spectrum" - from the "I want to buy right now - to I need more information to make a better decision". Otherwise you risk losing them to a competitor.
Anyone who has meet me knows that I could write an entire book on DRIP marketing so I will stop here. If you need more information on this subject, please send me an e-mail at the address below.
We wish you continued marketing success,
Ever raise guppies as a kid? I once had an aquarium and bought a couple guppies. The male had bright, pretty colors and the female was plain brown and fat. In a few days, I noticed a bunch of tiny guppies hiding in the plants. Even though the mature fish fed on the newborns, many of them survived and in a few months I had a tank full of guppies. I remember thinking maybe I should take some of them back to the pet store and try to get my money back. So, what does this have to do with investing?
Good dividend paying stocks can resemble guppies. Especially if you participate in the DRIP, or dividend reinvestment plan that many companies offer. It is extremely easy to set up through your broker. How does the DRIP work?
Let's say you buy 100 shares of XYZ corporation for $50/share. Assume that XYZ is paying a 5% dividend of $2.50 and the payments are made quarterly. You will receive $2.50 x 100 shares divided by 4 (quarters) = $62.50. That would automatically purchase 1.25 additional shares of XYZ. Now the next quarter you would get the $62.50 again, plus a small dividend on the 1.25 shares of $0.78. This time your account would grow by another 1.27 shares. This compounding occurs every 3 months and is independent of the stock price.
In fact, if the stock price declines, your reinvested dividends buy a bigger quantity of shares. This may help you sleep better during these high volatility, turbulent markets. It is the magic of compounding made even more beautiful by the fact that over time, most companies tend to increase their dividends. When dividends are increased it's like receiving a merit increase at work!
In these uncertain markets, identifying and concentrating on solid, high dividend payers and putting the money back through the DRIP's may be a strategy worth considering. It's possible that over a few years time you will have an aquarium (portfolio) full of guppies ($).
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