Using Magnetic Marketing in Your Business

September 25, 2012 in Investing In Real Estate, Marketing

 

Magnetic Marketing

Magnetic marketing is a phrase that has been coined by Dan Kennedy, and I feel it represents the way we absolutely must market today if we are to succeed.

For the most part, marketing and prospecting has always been done in a manner that could be compared to hunting.  Business people would go out and try to get an appointment, and then they would try to convince someone to buy their product or sell someone on their service.

If this didn’t work, they would try and try again until they succeeded or gave up altogether. This process is exhausting for both parties. Let’s face it; no one wants to feel like they are “prey” that is being stalked.  Magnetic marketing involves creating an environment where your client or customer feels like he is selecting you rather than one where you are pushing your products or services on them.

Today, wise business people have learned not employ hard selling methods. It is much smarter to create systems that bring people to you by giving them something they need for FREE; which is almost always information in our business.  People today just can’t get enough information. If you can fill this need until they “know, like and trust you”, they will be eager to buy from you in the future.  You are no longer acting like a pushy salesman, but you are the “go-to” person for information.

 

Precision Target Marketing

It doesn’t do you any good to have great information for folks, if it isn’t the right information for that particular group of people. Real estate investors naturally want to market to other real estate investors. But ask yourself, “Does this include all real estate investors”?  Probably not.

As a wholesaler that deals in single family, bread and butter homes, I am going to naturally market to rehabbers and buy and hold landlords.   I might also market to other wholesalers if I have a house I need help selling. But I wouldn’t send my marketing to commercial real estate investors.  They are not my target audience.  Also, if I know someone that deals in high end property I’m not going to include them either.

The lesson here is to get very clear on who your target market is before you ever begin a marketing campaign.

 

Craft a Clear and Effective Message

You are excited about your “thing”; your book, your course or your new coaching program. What you need to remember is that your potential customers are only interested in one thing; themselves. You can have the best widget in the world, but if you can’t connect with the folks looking for widgets, and fill the void created by their missing widget, you may as well be invisible to them.

You are going to have to convince them that your widget will solve their most pressing problem or will enhance their lives and provide that missing ingredient that they are looking for.

For instance, my friend Carey is in the ATM Business.  And I am here to tell you that most people don’t understand this business right off the bat.  So rather than jump right in and tell them that they need to check out this phenomenal business opportunity, she begins by telling them how they can make a boatload of passive income over time “while they sleep” without tenants and toilets ( which is a phrase that real estate investors love to use). People don’t really think it’s sexy or fun to own ATM machines.   But when they are making all that sexy passive income month after month, ATM machines take on a whole new meaning for them. This process has changed the way they feel. It also gives them exactly what they want; more money. They don’t want the machine; they want what the machine will give them which is more money. Once again, it’s all about the feeling.

Be sure that you are sending the right message to the right people if you ultimately want the right result.

 

Stand Out In the Crowded Field

We are back once again to that “know, like and trust” thing.  So how can you be the person that stands out in your field? Stop selling stuff!

  • Become the go-to person for knowledge without any thoughts about selling to these folks.  Help other people to succeed, and you will be perceived as being more valuable for “what you know, than for what you do or sell.” And in the process, you will sell plenty of stuff.
  • Find a way to be unique. What can you do differently than other people in your field? What do other people see as your uniqueness?  Figure this out, and build on it. You don’t have to create something new. Figure out what information folks are looking for; what they need, and do it better than anyone else. Put your unique spin on your product or service.
  • If you are creating an information product, listen to what folks are saying they need and create that product. Package your product in several different formats. Some people like to watch, others like to listen, and some folks prefer to read. Give them a choice. It doesn’t really cost you any more money to make it easy for them to love your information.

 

The Ultimate Goal

Your ultimate goal should be to get a steady stream very targeted customers or clients coming to you day after day, who are hoping you will teach them what you know.  And as I said, in this process they will gladly buy your products and services because they want to be successful just like you.