Simon Payn's Effective Customer Newsletters

'Bore me and I block you' - how to make your newsletters interesting

2009-11-27T11:10:27-05:00

About a year ago I got really into Twitter.

Maybe a little too much into it. Huge timesuck.

I'm still on it, but I ration myself. Now I waste time on Facebook.

But I tell yer - it's rough and tough in the Twitterverse!

Some people on there really work it. They post many times a day and, most importantly, they add value when they post. They don't share what they had for lunch, but they post interesting, provocative, useful information. All in 140 characters.

I got twittering (I think that's the right verb) with one of the twitterati (I think that's the right noun) and she came out with this zinger: “Bore me and I block you.”

I felt like I'd been put on notice.

You can imagine the stress.

But she was right.

In today's mega-multi-channel universe, attention is at a premium. People will decide in five seconds if you are worth another 30. It's like a bar in Manhattan.

Bore them and they block you.

The same goes for newsletters, of course. Bore them and they ignore you.

The good news is, most newsletters are boring - and that means you don't have try that hard to be interesting. The bar is pretty low.

So here's 5 ways to avoid being boring:

1)    Don't be that guy at the party who just brags about his latest triumphs. The harsh truth is that nobody cares about you - all they care about is themselves.
2)    Think about what interests your readers and what will make their lives better.
3)    Be yourself, not some dull corporation. People like people, not organizations.
4)    Take a risk. Be brave. Get naked.
5)    Engage in conversation, not a monologue.

Still with me? Good. Glad I haven't bored you yet.

Feel free to share your ideas. If they're interesting, I promise I won't block you :)

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Newsletters: the bar is pretty low. Really.

2009-11-25T09:28:48-05:00

I got a call on Tuesday from someone who is thinking of joining my newsletter service for real estate agents.

She's been receiving emails from me (not these, but others you can sign up for on my websites.)

But she said something that disconcerted me.

"The information is great, but it's kind of putting me off doing a newsletter."

Hmmm, I thought...that's not how it's supposed to work.

The reason, she said, was that she felt she could never do the kind of things I suggest to make her newsletter really sing - elements such as personalization, local content, and must-read headlines.

The whole thing sounded like too much of an elephant to eat. So maybe she should not do a newsletter at all.

SO WHAT DID I TELL HER?

Simply that the elements I suggest will make her newsletter soar, but the most important thing is to do a newsletter in the first place. Period.

After all, so very, very few people bother to keep in touch with prospects and clients that if you do, it's easy as pie to stand
out.

The barrier is so low that even a chipmunk can jump it.

Think about this.

How many stores do you happily buy from...and then never hear a peep out of again?

How many people come to do vital work in your home...and then just sit silently waiting for you to call again?

How many restaurants do you enjoy visiting...yet never hear from?

I'D BE WILLING TO WAGER that 99% of businesses don't bother to keep in touch with even the people who love what they do.

Sometimes after I leave a store I get so mad at their lack of marketing savvy that I pledge to set up a store right next door, doing exactly the same thing... just to punish them for being so dumb.

This isn't meant to sound like bragging, but I think I could go head-to-head with 99% of businesses out there and crush them simply by building a solid database of clients and prospects and then keeping in touch with them regularly

Like I say, it really doesn't take much. Just a matter of collecting names. The tools are there to do the rest.

THIS IS WHAT GETS ME UP IN THE MORNING. The big mission of my company is that every business (even funeral homes) should have a newsletter.

That's why I make ready-made print and email newsletters that businesses can send. As the bar is so low, you can send them without any customization and they'll still work. Or make them really yours and you'll be the #1 person in your business in your
town.

I guarantee it.

Now, it seems like a big job - a gigantic elephant to eat. But take it a bite at a time. Even a chipmunk can feast.

[Picture credit]

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A Newsletter for Every Business:
http://www.anewsletterforeverybusiness.com

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How to Get Your Newsletter Articles Read - the Easy Way

2009-11-22T09:36:42-05:00

"Service journalism" is the reliable older sister of the newspaper world.

If it wore clothes, it would wear a cardigan. With pockets.

It sure ain't glamorous. There are no scoops (such as they are these days), and there are no celebrity interviews or witty columns.

Service journalism is the simple reporting of stuff that's useful, such as "where to get your H1N1 shot," "which roads will be closed this weekend," and "how to get your drivers' license renewed."

I like it, because it gets read.

People want to know this stuff. It's one reason why they buy newspapers.

It's no accident that the default title of the newsletters I make is News You Can Use.

After all, readers want to know WIIFM (What's In It For Me?) Is this article going to help me live my life?

When it comes to writing headlines for your service journalism articles, clearly telegraph how the article will help.

Typical service journalism headlines go like this:

•    How To Insulate Your Home
•    Where To Get Your Flu Shot
•    When to Book Your Vacation Travel

But, as a reader of this email, you know you can go one step further.

If you can add a benefit to your service journalism headline, you'll increase readership.

So consider:

•    How To Insulate Your Home for Under $500
•    Where to Get Your Flu Shot Without Lining Up
•    When to Book Your Vacation Travel - For the Best Price to the Sunniest Destinations

Now that's something I really want to read.

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News you really can use: http://getreadynewsletters.com

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Why Some Businesses Succeed and Some Don't

2009-11-21T08:41:35-05:00

A bit of a rant this morning.

Here's the thing. There are no doubt lots of businesses sitting around complaining right now. The economy's bad, customers are gone - and when customers do call, all they want is the cheapest price.

And then there are others that are doing just fine.

What's the difference? Hear my experience ordering 1,000 postcards.

So some questions:

Are you really serving your customers?

Are you actually there to answer the phone?

Are you giving them what they want?

...Because if you're not, you've got no right to complain.

(If you're interested, the company is Vertical Printing and Graphics.)

How to Be Like Oprah

2009-11-20T08:16:12-05:00

I got the shock of my life on the internet last night.

There on my favorite news website was a big, blue headline: "Oprah Talk Show Going Off Air."

Now, I know she had Sarah Palin on this week, but it can't have been that bad.

I thought Oprah was stronger than that.

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Turns out, of course, that Oprah is - in her own way - going rogue. Doing a bit of that mavericky stuff.

Because instead of doing a show for that mainstream icon CBS, it looks like she's going to have her own cable channel - the Oprah Winfrey Network.

Betcha they'll be a talk show on there.

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Oprah, as we know, is one smart businesswoman. She's got a brand as big as Jupiter and more power (and probably money) than anyone in the media.

So it pays to take note of what she does.

So what is she doing? She's taking control of her own distribution. Instead of being a slot on CBS, she's going to own an entire channel. 24 hours a day of Oprah doing what she pleases.

SO WHAT LINKS OPRAH - AND YOU? Simply, that you can create your own distribution - your own network.

Now, I wish I could say this was all my idea. But Seth Godin blogged about it first.

Seth was talking about real estate agents - but it applies to any industry. Real estate agents, he said, should create their own publication (their own newsletter) rather than being forced to advertise in newspapers.

Imagine if a local business put out its own weekly publication. It needn't be fancy, but it does have to be interesting and relevant. Pack this publication with local news, what's on events, profiles of local celebrities, details of the H1N1 clinics, sports reports, pictures of newlywed local couples, reports on what the municipality is doing.

Sounds a lot of work - and it is. But imagine if that business joined with other (non-competing) businesses to share the costs.

Your publication would be the talk of the town. Indeed, an essential resource.

And which company would have unlimited space for advertising? The owner of that distribution channel, of course.

OK, I know this sounds crazy. But it's worth at least listening to what Oprah does.

Going rogue does make some kind of sense.

[Picture credit]

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Be mavericky with newsletters you can customize:
http://getreadynewsletters.com

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The Perils of Newsletter Personalization

2009-11-19T13:43:24-05:00

Yesterday I received a Facebook "be my friend" request. It went like this:

"$Name$$, Facebook considered you as a friend. I enjoy meeting like minded people, hope you feel the same."

Personalization is a wonderful thing. And so is technology. Mix them and you have a powerful cocktail - or a recipe for disaster.

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It's proven that personalization can boost response to your marketing efforts.

That's why I use it myself. You'll see this email has your name at the top.

Like our Facebook "friend", you've got to be careful. Use it too much or make a mistake with the technology and you look an idiot.

SO HOW DO I USE PERSONALIZATION?

I use it (sparingly) in text emails like this because they have a kind of intimidate nature. The fact that they are text (not pretty HTML) makes them more personal - more like a real email. I've noticed I get more response from "text" newsletters than HTML ones.

I don't, however, use personalization in my monthly HTML email newsletter. There's something about the nature of the design and the content that make it more like a publication, not a personal note. It just seems wrong.

HERE'S WHAT I THINK. Personalization can make someone notice you.

But you want to go beyond that.

If you've succeeded in building a strong relationship with your clients, focus on being authentically you in your communications - not faking intimacy with technology.

(By the way, what many people don't know is that you can include personalization in your printed marketing. It costs you more, of course, but I'd be willing to bet your return on investment is higher, if the price of the product justifies it. Disclosure: I haven't tested print personalization myself yet.

When 1 + 1 = 3

2009-11-18T11:23:57-05:00

As someone smart enough to be reading this blog, you know math.

So that means you understand that:

1 + 1 = 3

And 1 + 1 + 1 = 9

And 1 + 1 + 1 + 1 = a-heck-of-a-lot

This isn't some kind of wacky math. It's the power of groups. They work "to the power of."

Kind of an exponential thing.

Last night I was the guest speaker on a teleseminar for business owners in a particular industry. The theme of the call was - naturally - newsletters. I supply a newsletter that these business owners use as the core of their marketing programs.

Although I was the one doing most of the talking, the power of groups is such that you always get back as much as you give. Often more.

(This is the reason I'm a member of a mastermind group here in Toronto. I know that I've added thousands of dollars worth of income to my business through being a part of this - ideas multiply when several smart people are in one room.)

Anyway, I thought I'd share with you some of the things I learned - or at least had reinforced - last night. There's a kind of random nature to this - but I hope you find it interesting anyway.

One person put a folder of newsletters on the side of his car when he was out on a job. People could pick a newsletter up as a kind of business card as they were passing by.
Someone else said that the most successful real estate agents in his town used newsletters. We talked about why that might be - I suggested that it was because they had long-term perspective, because they understand a value of a client over time. (One of the reasons people leave my program is that they want to get results instantly - they're not thinking of a client's lifetime value. Instead of building a viable business, they go from shiny object to shiny object, never building any customer relationships.)
On the theme of lifetime value, we talked about the cost of sending a newsletter over the lifetime of a client vs. the income you get from that client. (Understanding that the newsletter is one of the tools that keeps a client with you forever.) I did that math once for real estate agents - see http://tinyurl.com/lifetimevalue
Treat nodes in your community with extra respect. Nodes are people with lots of connections to the kind of people you reach. If you're in real estate, for example, a node might be an interior designer. Make sure they get a newsletter -even several. These people could be power-distributors for your message.
Focus on marketing your business, not doing your business. This is an old one, but something people often still don't get. You can leverage your time by investing it in marketing and systems instead of trading hours for dollars by working "in" the business. (I shared my story about why learned marketing as my first step into being a business owner - because I knew that without knowing how to market my business, I would have no business.)
The power of customer profiles. A great way to get engagement with your clients and to share their success stories. Goes back to the old newspaper law that says it's names and pictures that sell papers. People like to read about people who are like them.

Anyway, like I said, this is all a bit random. But I hope you can see how much value you an extract from just one hour.

If you can get together with other business owners - preferably outside your industry - you'll be able to get the same wacky math value that I got last night.

[Photo credit]

The trouble with 'newsletters'

2009-11-17T07:39:50-05:00

I hate it when people ask me the question: So what is it you do?

A cocktail of adrenaline and tears rushes through my veins.

Do I give my pitch speech? "I help businesses build profitable, long-term relationships with their clients."

That often works only in an elevator.

Or do I just come out and say: "I make newsletters."

The trouble is, when I mention the word "newsletters" their eyes freeze over as they search for an escape route.

The conversation turns to the weather.

Guess it serves them right for asking.

You see, "newsletter" is such a terrible, awful word. I hate it. And I've been trying for years to find an alternative.

Trouble is, the synonyms I've found so far are also hateful.

There's "ezine" for the newsletter's email cousin, but to me that sounds like something a teenager would write.

Or there's the "drip campaign" for the automated series of emails designed to help convert prospects. But that sounds like a water torture.

And then there's "auto-responders", which is basically the technology that delivers the drips. Where's the soul in that?

You see, the newsletter - when done right - is so much more than some cynical use of communication.

When I contributed to the first Age of Conversation book (we're working on Volume III right now - stay tuned) I wrote about a store owner called Peter.

Peter was old-school. He remembers the days when people used to drop by his store just for a chat. He knew everything that was going on in the neighborhood. He would refer people to vendors. He would help.

He had a relationship with his clients.

I tried to say in my chapter that a newsletter should be just like Peter.

You see, a newsletter is about developing a genuine, long-term relationship with people by providing useful, entertaining and interesting information. It's about sharing what works and what doesn't. It's about sharing stuff that happens in life. And it's about a conversation.

A newsletter is about being part of the community in which your readers exist - be that local or virtual. It's about being of service, for the long-term.

A newsletter integrates you into the lives of your customers as a valued, trusted partner.

Hmmm...that definition is 81 words long.

Anyone condense that into just one or two?

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My mission: Every businesses (even a funeral home) should have a newsletter: http://anewsletterforeverybusiness.com

Sign up to receive these message by email: http://www.tinyurl.com/30Emails

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The efficient newsletter article

2009-11-16T08:28:30-05:00

The chicken has 11 parts, I was told with huge authority by the 16-year-old KFC employee.

That was why I would receive only two breasts - the rest of my order would be made up of the other nine parts of chicken.

I guess that's fair, although I've wondered ever since what constituted that odd 11th part. Chickens, I had supposed, were symmetrical.

Indeed, I was pondering that question yesterday when I pushed not one but two chickens into the oven. That's 22 parts of chickeny goodness, plus an unknown quantity of soup, to be enjoyed over the next few days.

A super-efficient use of time and resources - a two-in-one combo roast coupled with full use of the chicken's parts makes an economic menu.

NEWSLETTER ARTICLES WORK THE SAME WAY. Never just write one and forget about it. Use it again and again. And when the words are flowing, write two and save yourself heating the oven of the mind next time.

A newsletter article can be posted to your blog or pasted on your website. It can form part of an auto-responder sequence to be sent out automatically to prospects who sign up on your website. You can submit it to one of those article repositories, such as ezinearticles.com, that help boost your search engine ranking.

You can also keep it in a library to pluck out when a client or prospect poses a relevant question.

(Indeed, that can work the other way too. It can pay to answer a client's emailed question thoroughly in the knowledge that you can use an edited version of the response in your newsletter. You'll have an impressed client and your newsletter written all in one.)

And once you're in the writing groove, crank out more than one article. You never know when the mood will strike again, so keep on writing while you can.

See - that's using all 11 parts of the article.

A bit of stuffing, and you're done.

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A Newsletter for Every Business: http://www.anewsletterforeverybusiness.com

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Beware the Apostrophist - Your Newsletter and Those Pesky Typos

2009-11-15T10:43:15-05:00

I'm glad the Apostrophist doesn't read this blog. He'd be
after me with his big, black Sharpie - and I'd be in
trouble.

More about this grammar vigilante in a sec.

The thing is, when I re-read one of these messages a day or
two after I've posted it, I always spot a typo or seven.

That makes me cringe.

In my defense, let me say that I write these emails in my
head while in the shower, rush to the computer and dash them
out.

But listen: do as I say - not as I do.

Because typos - spelling errors, clumsy grammar, shoddy
constructions - should be avoided in your newsletter. They
make you look bad.

The newsletters I make for my clients are pored over by a
professional proof-reading company (http://www.proofreadnow.com),
where not one but two editors painstakingly highlight every
glitch.

And yet the occasional mistake still slips through. Such is
life.

But in the interests of preserving your newsletter dignity,
here are some tips:

1)    Put it away in a drawer for at least a day. There's
nothing like fresh eyes to make the invisible glaringly
obvious.

2)    Read it backwards. It's a great way to spot that
most evil, stealthy typo, the the repeated word.

3)    Have someone else read it. You're blind to your own
errors; a friend can see better.

4)    Use the online spelling and grammar checker made by
After the Deadline. You can paste your text into the window
at http://www.polishmywriting.com for a multicolored summary of
your errors. It's miles better than the Bill Gates version
in Word.

However, don't get hung up on it. You're writing to
communicate, not please your Grade 9 teacher.

Just make sure you strike a balance between appearing like a
slapdash writer and a dreary pendant.

Speaking of which - back to the Apostrophist.

He's a 62-year-old English accountant who was so incensed by
the missing apostrophes in his neighborhood's street signs
that he corrected them with a Sharpie. St Johns Close in
Tunbridge Wells was transformed into St John's Close with the
stroke of a pen.

"I think one should stand up for things and language is
worth standing up for. The trouble is that everything is
dumbed down now," he said.

I have to agree.

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A Newsletter for Every Business: http://www.anewsletterforeverybusiness.com

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Newspaper columns, 17 kumquats, and a famous 'you'

2009-11-13T10:33:47-05:00

If you think some movie stars are prima donnas ("I requested 17 polished kumquats in the scarlet dish, not 16, not 18, you imbecile! You're fired!"), then you haven't met a newspaper columnist.

There's something about being charged will filling ten inches of virgin newsprint each week that does horrible things to the ego.

Newspaper columnists are so important that they have their own glass-walled office - which they carry around to avoid contamination by anyone lowlier.

Which is everyone...because they're more important than even the editor-in-chief or the proprietor.

And woe betide any editor who accidentally screws with their copy.

Every four months or so in newspaper offices worldwide there's a huge bust-up between a columnist and an editor over an extra comma or something.

The trade union gets called in.

Messy.

In my last job at the paper-and-ink factory here in Toronto, I witnessed an email exchange between a particularly ego-tastic columnist and the copy-editing department.

It was much more entertaining than the darn newspaper ever was.

King of the columnist egos is a chap who writes restaurant reviews in England. If you want a good read - and don't mind extreme profanity - read this.

It's fun.

And it's all over an extra indefinite article.

Now to be fair (not that I want to be), not all columnists are like this.

And to be fair again, some of them deserve their status.

The best columnists make a newspaper a go-to destination. Every weekend I go to the New York Times website to read one particular columnist who seems to live inside my head...yet more eloquently.

And once a week I visit the website of a British newspaper to read a columnist who says everything I want to say...but daren't.

But here's the thing...

When once upon time - when the newspaper was the only game in town and you were the only columnist - you could afford a whopping ego.

But now, anyone with access to Wordpress can write their own column. And if they are really good, they can build their own franchise that's as valuable as any newspaper business.

Because people like opinions. They like to be led. They like controversy. And they like a bit of color.

After all, it's a gray, gray world out there for most of us, most of the time.

SO HERE'S WHAT THIS HAS TO DO WITH NEWSLETTERS: To make your newsletter a go-to destination, you need to become your own columnist.

Now, it doesn't matter if you're not some hotshot writer...because you can be a star in your own world.

Just say something interesting. Have an opinion. Stir it up a little.

It's not that hard, because when you look at every other newsletter or marketing piece out there, you realize that the bar is pretty low.

I promise you'll make your newsletter - and your business - the talk of the town.

And I'll tell you what: you'll have fun too.

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The Vatican's Astronomer

2009-11-13T10:31:24-05:00

If you read the title of this post, you might have had the same two questions that popped into my head when I first heard about the Vatican's astronomer.

First, I didn't know that the Vatican had an astronomer.

And second: What is the Vatican doing with an astronomer anyway?

Then maybe you had a third question: What is Simon doing writing about the Vatican's astronomer?

CURIOUS, ISN'T IT? At least it was to me.

It turns out that the Vatican has had an observatory since the 1500s - and to this day its astronomers work at a giant telescope in Arizona.

Kind of overturns assumptions that some people have about religion and science, doesn't it?

For 500 years, good scientific work has been undertaken by the Vatican's astronomers, acting as a bridge between the scientific community and the Catholic Church. Right now they're looking into quasars.

That whole Galileo thing, which didn't do a whole lot to promote the church's scientific reputation, was a hiccup in centuries of important work.

They've been trying to walk that one back ever since. God and science aren't in conflict, the Vatican's astronomers say.

SO WHY AM I WRITING ABOUT THIS? And what does it have to do with newsletters?

Because curiosity is a powerful thing.

And if you can build that into your newsletters, you'll be more interesting - and you'll get more readers.

SO HOW do you add a dash of the curious?

You'll need to do some detective work - and also create some unexpected connections.

It involves looking at your business through a different eye to find the curious and the unique.

And then it involves pulling out that which is curious and unique and weaving it into a convincing tale that will inform and entertain your readers.

I think it's something worth spending time on.

PS. You can find out more about the Vatican Observatory at http://vaticanobservatory.org and http://www.walrusmagazine.com/articles/2009.10-profile-the-glad-scientist/

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Five Days to Success with Newsletters: http://getreadynewsletters.com

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The dilemma of the trusted advisor

2009-11-11T09:38:28-05:00

Last Friday I went to see my accountant. Then I walked next door to visit my lawyer.

I would have seen my doctor too - to get the full triumvirate and 200 extra frequent flier miles - but I had an appointment with him the week before.

I like seeing my professional advisors.

They know so much more than me about what they do than I know, so I just give them the work and they come back with an answer.

And I know they're not going to sell me bookkeeping services or legal contracts I don't need. Just those that I do.

I trust them.

That whole "trust" thing is important.

I'm always telling my clients and prospects that a newsletter serves to position them as a "trusted advisor" rather than salesperson.

I tell them that over the long term (and even the short term) they'll get more business that way.

For this to work, the newsletter content needs to be informational ... not just promotional.

It should help the client make the best decision. It should serve the client's best interests.

It should sell clients on products that those clients should have, but are perhaps not aware of, but only if that product is likely to benefit them.

It's at this point that I sometimes run into trouble with members of my newsletter service.

Indeed, I lost a member for this very reason last month.

What, for example, happens if the best decision for one of my members' clients is not to sell their home or not to buy particular insurance policy?

Won't my newsletter just be turning people away?

HERE'S AN EXAMPLE: An article in my November real estate newsletter is called "Remodel or buy: which is best for you?"

The article gives lots of useful information that will help people decide which route to take.

Trouble is, they might decide to remodel their home. And that means the real estate agent doesn't get the listing.

Now, I would say that's fine. We're in the business of lifetime relationships here. What's good for the client is good for the real estate agent. Maybe they won't sell their house this year.

But what about three years down the road? Which agent will they work with? The one that just tried to sell them, or the one who listened to them and gave them valuable advice?

Here's another example.

One of my insurance newsletters contained an article about buying the right kind of auto insurance. It said something along the lines that people should review various policies to make sure they get the one that's right for them.

But what if the insurance agent doesn't offer those policies?

Will they lose the business?

Or will the customer respect them for it ... and continue as a long-term client?

And should they ... if they really want to serve their customers ... find a way to offer that policy?

HERE'S WHAT I THINK (and I try to follow this in my own business):

I try to offer the "best in class" products for my clients.

But if I'm asked if a product is right for my client and I think they would be better served by using another product, I say so.

Then I either decide that I need to make that product for this client, or I tell them they should work with a competitor

SO TELL ME: am I right? Or am I being naïve?

Am I throwing business away? Or am I building a platform for long-term success and greater referrals?

Should my newsletters stop giving advice that might result in losing a sale?

I'd like to know what you think.

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Be a trusted advisor: http://getreadynewsletters.com

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Email Newsletter Open Rates - and Your Mother

2009-11-11T09:36:41-05:00

If you sent an email to your mother, would she open it?

Probably.

(I know a good Freudian analyst for those who said no.)

That's the point I make to clients when they question me about email newsletter open rates.

The second thing I ask is: how can you make your newsletter as relevant to your prospects and clients and your holiday plans are to your mother?

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Here's what you need to know about the open-rate stats you get from your email service provider: on their own, they're pretty meaningless.

Now, I'm the first person to say that monitoring the stats in your business is important. I watch my Google Adwords click-through rate like a sports fanatic, for example.

But stats on their own - without understanding the context in which they sit - don't mean a heck of a lot.

They can even be dangerous.

Email newsletter open rate is like that. You might get 10%, 20%, maybe 40%. But what does that mean? Not much, really.

Consider this:

1) Who are you sending your newsletter to? That's the "mother" question. Send your newsletter to a bunch of people who don't know you and your open rate will be practically zero.

2) Is your content relevant and interesting to your readers? Even your mother will stop opening your emails if their content is about stuff she doesn't understand and doesn't care about.

Start fixing these things and you'll see your open rate start to go up.

Whatever that means.

PS. Instead of focusing on open rate, start tracking conversations started, leads generated and sales made. They're much more relevant stats to focus on.

PPS. Open rate is a notoriously inaccurate stat anyway - the technology doesn't really exist to track it accurately. A text email, for example, comes out at zero.

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Get a newsletter your mother will love: http://getreadynewsletters.com

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A bear in the kitchen and your local newsletter

2009-11-08T10:32:34-05:00

Most summers, the Haliburton Echo carries a story that goes something like this:

A local homeowner wakes to the sound of crashing and rustling. On going to investigate, she discovers a large black bear - its head buried in a box of cornflakes.

So with great derring-do, the homeowner shoos the bear out of her home - usually through a closed screen door.

Next to the report you will find a picture of the shocked-but-brave homeowner, and - if you're lucky - the rear end of the departing bear.

It's a fun story, isn't it? A mix of horror and humor.

And what's more - it happened to someone who lives right round the corner.

This is why I love the Haliburton Echo - it's a local paper for local people.

Under the guidance of Martha Perkins, who left for pastures new this week after 24 years as editor, the paper has been routinely packed with local stories featuring local people. There's reports on high school soccer matches, news of the curling league, profiles of local celebrities, and pictures, pictures, pictures of neighbors you know.

Although I'm not privy to the newspaper's finances, I can tell you it's packed with ads for local merchants. And that's in a country with a year-round population of 16,000 (it swells in the summer with seasonal residents) that also supports two other weekly newspapers and two radio stations.

Nice contrast to the falling fortunes of the Echo's bigger metropolitan cousins.

So how does this apply to newsletters?

Simple: make your newsletter model the Haliburton Echo. Make it local and make it relevant.

Include local events, tales of neighborhood happenings, letters to the editor.

Hang on a minute, I hear you say. Don't you make a one-size-fits-all newsletter? Same newsletter goes from Vancouver to St. John's, or San Diego to Boston?

Yes, but here's the thing. I encourage my members to customize that newsletter, if only a little.

Taking the time to make the newsletter local and personal will make the difference between an anonymous marketing communication and a real relationship-builder. (And it's what makes my newsletters different from the others out there.)

It's that local flavor will make people want to receive - and read - your newsletter. And it's that local knowledge that will make you the #1 vendor in your town.

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If you're in Toronto, sign up at http://www.readytogonewsletters.ca to learn details of a local newsletter just for you that will launch soon. If this works, there will be local versions for cities throughout the US and Canada.

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Arrogant newspapers, upstarts in t-shirts, and the practice of resilience

2009-11-07T11:55:16-05:00

If I owned stock in one of GPS companies - like Garmin or Magellan - I'd be crying into my cup holders right now.

Why? Because Google has moved into the neighborhood with a better, cooler sat nav system for cell phones.

Oh, and it's free.

Notice how this kind of thing seems to happen a lot nowadays?

You've been happily owning an industry for decades and then some t-shirt wearing upstart from a garage in Silicon Valley comes along and smashes your market.

The owners of The New York Times know what I mean.

It's one of the reasons why I left the inky world of newspapers to learn all about online marketing and to set up my own business.

From the inside, even several years ago, it was clear that newspapers would be in trouble. And so in particular was my job.

I was like a monk with a manuscript.

I'd sit there and spend what seemed like hours tweaking a story to get it to fit just right in the inches of space allocated to it in the newspaper. Sometimes I'd have to switch a six-letter word for a five-letter word to make a story squeeze in.

It was painful. And with the internet, it was unnecessary.

And this, of course, was with news that happened during the day... but wouldn't be read until the day after.

My skills - I could foresee - were becoming redundant. And soon I would too.

(Indeed, just a couple of months ago the last newspaper I worked on in the UK was cut from daily to weekly, a move that left behind a bloody sea of laid-off editors.)

And if you think you're immune, you'd better think again. Healthcare, education, banking, insurance, real estate. They're all on the block.

Now, I don't mean to scare you. (If you read Wednesday's email you know that's not my style.)

I'm just being realistic.

So rapid is the world as we know it disappearing (think 9-11, the economic slump) that anyone with hopes for the future is doing all they can to get future-proofed.

So how am I getting future-proofed? By building resilience into my business - and into my character.

And so should you.

First, get used to the fact that change is the new norm. And in this environment, the worst thing you can do is be shocked by change...and yet still do nothing.

You'll end up like a rabbit frozen by the glimpse of a fox. And that doesn't end well.

The newspapers - I could see - were so used to having things their own way that they were deliberately and arrogantly dumb to what was happening. So they did nothing - and the world moved on.

So being resilient means expecting change and being ready to bend with that change.

So how do newsletters fit in with all this?

Two ways.

First, they open up communication.

It's awfully quiet if you live in a bubble. And then one day the oxygen runs out.

If you use a newsletter, you will get feedback from your clients. You find out what they need, what they want, and what they are thinking.

It's like getting live intelligence from the market.

The key, of course, is to act on that intelligence.

Second, you're building your personal brand - you are nurturing a relationship with your clients and prospects.

And when the world changes, that relationship is still there - because a relationship is 100x more powerful than just a transaction.

Your newsletter is like an insurance policy against rapid change.

[Picture credit.]

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PS. Get your insurance policy against change today: http://www.getreadynewsletters.com

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The David Beckham of Punctuation

2009-11-05T09:12:21-05:00

Next time you're planning to book the Kennedy Center for a stand-up comedy show, remember one thing: you can use the F-word a maximum of 41 times.

This isn't my observation, of course. It belongs to comic Lewis Black, who says he wasn't allowed to record an HBO special at the venue because someone at the theater had seen a video of his act and counted the number of F-words in it.

There were 42.

Black switched to another Washington venue where the F-word quota is much higher. You can say the F-word 97 times there.

I have sympathy for the Kennedy Center. Not because of the F-word - I think it's OK to use it when the circumstances are right.

No, for me, it's exclamation marks.

When I read a newsletter, I count them. My maximum is set at a draconian three.

You see, exclamation marks are the David Beckham of punctuation.

You know Beckham. He's the English soccer superstar married to the thinnest Spice Girl. He plays for the Los Angeles Galaxy.

And, so they say, he's a fashion icon.

Not to me though.

I think he tries too hard. There's just a little too much bling. A touch too much Gucci.

He's like the restaurant that puts real gold flakes on your dessert.

Or the guy who winks when he makes a joke.

Or the writer who puts an exclamation mark at the end of a sentence to show enthusiasm.

Now don't get me wrong.

Exclamation marks are fine in some circumstances. I scatter them myself in personal correspondence. And of course they're OK when used properly, such as in commands, "Shut up!" and, naturally, exclamations, "Wow!"

But using them in other circumstances reeks of amateur desperation.

Consider:

"It's going to be your best vacation ever!!!"

"My new hair-care product will make your locks shine!!!!"

"On our dating website you'll meet the girl of your dreams!!!!!"

When I see exclamation marks like this, I think "yeah, right."

What the writer really means is: "Here's something that, if I'm going to be frank with you, is pretty mediocre, but if I'm trying very hard to be super-enthusiastic so that my enthusiasm overwhelms your powers of judgment."

That's not the message you want your newsletters to convey.

Until tomorrow,
Simon

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PS. There are no more than three exclamation marks in the newsletters I make. If you find more, you get your money back. Try them for free at http://www.getreadynewsletters.com

This is one of my 30 Days, 30 Emails messages. To get them delivered to your inbox, go here.

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The Newsletter Audacity of Hope

2009-11-04T11:45:55-05:00

Today is the first anniversary of Barack Obama's election victory.

Now don't worry. I'm not going to launch a political rant about President Obama's qualities - or lack of them.

But you remember his slogan: Yes We Can.

It's often said that the two most powerful motivators are fear and hope.

Just think of all the fear that bombards us: Fear of swine flu. Fear of terrorism. Fear of losing all our money on the stock market.

We're saturated by fear because fear sells. CNN and the other news networks, for example, thrive on it. They know that fear keeps us glued to the TV.

"Will H1N1 kill you? Stay tuned," says Wolf Blitzer.

Very powerful stuff.

I don't know about you, but I don't want to be in the fear business.

It's kind of depressing.

Instead, I'd rather be in the hope business. Just like Mr Obama.

And I'll tell you what. When we're bombarded everyday by fear, a little bit of hope is a real tonic.

So make your newsletter about hope, not fear.

- Tell good news stories about your clients.
- Provide solutions, not problems.
- Share humor, not scare stories.

Be a bright spot in people's lives by bringing them a smile instead of a grimace.

They'll love you for it. And they'll look forward to more of the same in your next newsletter.

This is one of my 30 Days, 30 Emails messages. To get them delivered to your inbox, go here.

The Freedom to Choose Sweeping Leaves

2009-11-04T11:42:52-05:00

The other day I spent two hours sweeping up leaves.

Now, as anyone who knows anything about running a business would say: that's a dumb thing for an entrepreneur to do.

After all, I could have paid a student $30 to do that and instead invest the time making more money for my business.

Indeed, I remember marketing expert Dan Kennedy once complaining how exasperated he got seeing his clients mowing the lawn on a Saturday morning

And he's right.

The wise business owner invests his time where it can be spent most profitably. Creating fresh marketing, inventing products, or improving systems is probably worth orders of magnitude more than, for example, bookkeeping, administration...or sweeping leaves.

It's a lesson many business owners forget. Instead of leveraging their time, they waste hours in "busy" work - fooling themselves they're doing something worthwhile.

So why, considering I know this, did I spend two hours bent over a broom?

The answer, of course, is that I enjoyed it.

Not only do I get the benefit of some healthy aerobics indulging in the third most strenuous thing I do all year, but I also find it's a useful exercise in mindfulness. There's something about focusing on the crispy scrape of leaf against decking and the fruity odor of detritus on the turn that makes me happy. Perhaps it's memories of Bonfire Night for this British lad in exile.

So, I know it's time unprofitably spent.

But I also know the joy of being an entrepreneur is that I get to choose.

No one is telling me to stay at the office. And no one is making me sweep leaves.

Actually, the exercise just reinforces the importance of leverage, because the more $1,000 an-hour-work I do, the more time I get to spend goofing off with rotting vegetation.

Until tomorrow,
Simon

So if sweeping leaves is my third most strenuous activity, what is my first? That's shoveling snow. Something we in the Great White North have plenty of experience at. And the second is stacking firewood. I did this just a couple of weeks ago, actually - lugging one by one a heap of logs the size of a Ford Focus to form a neat cube the size of a Ford Focus just 20 yards away.

I enjoyed doing that too.

My back begs to differ.

This is one of my 30 Days, 30 Emails messages. To get them delivered to your inbox, go here.

Photo credit.

Worst Parking Job and a 'Random Act of Kindness'

2009-11-02T08:35:00-05:00

At risk of sounding like one of those annoying people who bombard you with links to funny and cute stuff they've found around the Internet that you've "just gotta see..."

.... Well, you've just gotta see the video at the bottom of this post.

But don't go there yet.

Here's the story.

A security video posted on YouTube that shows a driver's reckless (and I mean really reckless) parking lot activities became a viral sensation.

The story would have just been another five-minute office chuckle, until a Friday, when it was revealed that Hyundai, the company that made the car that the reckless driver trashed, had given that victim a new car.

So what happens.... It's on the front page of the Toronto Star website.

Which gives us all another chance to see the video.

Which extends the story and makes it truly mainstream.

And which provides a truly positive mention of Hyundai Canada.

This quote form the story made me chuckle: "We wanted to help the guy," said Hyundai Canada representative Barb Pitblado. "This was our random act of kindness."

Yeah, right.

It was a very smart marketing move. For the cost of a new car they've got hundreds and thousands worth of media coverage and millions more in fuzzy goodwill.

So my question: how you make a "random act of kindness" and win points for your business?

OK, OK, here's the video.

The Day of the Dead

2009-11-01T07:52:00-05:00

The cemeteries of Spain will be busy today.

I've always found Iberian graveyards curious places.

I never visited one when I was living there, but I saw many from the outside.

You see, in Spanish cemeteries, many graves are set in high walls. The dead are stacked on top of each other, with stones marking their positions.

Reminds me of giant filing cabinets that will never be opened.

Today, November 1, those cemeteries will be busy. Because today is Todos Santos - All Saints' Day - when traditionally Spanish families visit the graves of their dead and leave offerings of flowers. It's a tradition common in many Catholic countries.

While deceased relatives are no longer living, they are with us in some way. A simple annual ritual helps us connect with them - if not physically then at least in our thoughts and our memories.

I often call - perhaps rather crudely - lists of prospects and clients you haven't contacted for a while "dead".

Without out a regular ritual of remembrance, they may as well be. They're gone and forgotten.

And unfortunately, they've probably forgotten you too. Or at least you're not at the top of their minds.

But that doesn't mean that connection has to be broken forever. It can be repaired.

New members of my newsletters service often ask me what to do about old lists of prospects they haven't contacted for a while. Can they contact them again?

I tell them yes, but they have to be careful - and they shouldn't expect miraculous results.

A message of atonement is required.

I suggest they send a friendly email, apologizing for their lack of contact but promising to do better in future.

They then should offer a new way to subscribe to their regular newsletter.

To encourage these past clients to continue to agree messages, I advise they describe how useful and entertaining their future emails will be...and perhaps offer a something extra - a downloadable bonus - in return for agreeing to receive further emails.

It's a difficult maneuver to make, but there's nothing to be lost by doing it.

And once that connection is made again, a ritual of regular contact will help ensure it never dies.

[Picture by Cayetano]

30 Days in November, 30 Interesting Messages

2009-10-31T10:27:32-04:00

Want to take part in an interesting experiment?

Want to see me potentially humiliate myself in front of thousands?

I've been challenged by copywriter John Francher to hone my email writing skills.

He has pledged to create one auto-responder message each day.

What is an autoresponder? It's computer software that automatically sends emails to your prospects and clients. You pre-load the content, which could be months' worth of newsletters and email messages, and the system does the rest. If you want to try one, go to my website and complete the box there.)

Why is this challenge worthwhile? Auto-responder email sequences are a great way to build relationships with prospects and customers without you having to do a lot of manual work - and the best way to get good at writing them is to practice.

So...to get my own practice (to get ready for a new product I'm launching early next year) I too am pledging to write one interesting email message a day for 30 days in November.

What will I write about? Well, it will be roughly related to the content of this blog. But we'll see...

Will I succeed?

Will I have anything interesting to write about?

Will I be able to add value to the lives of people who read them?

It's up to you to decide.

Just complete the form below and you'll get signed up to receive them. You can of course unsubscribe the moment you get bored or the moment I annoy you too much (although I hope that doesn't happen.)

So what's that new project you're talking about?

Well, it's related to my 30 days of emails. I'm not ready to give you details yet, but I can tell you that anyone who signs up will be eligible for a discount or some other kind of bonus.

[Picture by Lincolnian]

What Black-Eyed Susan Taught Me About Succeeding Right Now

2009-10-07T10:32:00-04:00

Please give a warm welcome to Black-Eyed Susan! She's pictured on the right.

Actually, this is Black-Eyed Susan's body double.

The real Black-Eyed Susan, who lives in my garden, is too shy to be photographed. She's not looking her best.

But she sure reinforced an important lesson in thriving in these tough economic times.

You see, Black-Eyed Susan was growing like crazy...lots of stems and, on top of those stems, lots of buds.

But then one day in early July she was cut down in her prime.

I caught the culprit red-handed. It was one of the local deer. There he was, munching away as I pulled into the driveway. He looked at me sheepishly (if a deer can look sheepish) then ran away, Black-Eyed Susan stalks hanging from his jaws, sap dripping from his lips.

Black-Eyed Susan was reduced to a chewed-up stump.

Until last week, when I noticed that she'd produced two fresh stems, and on each of these stems was a ripe bud.

A lesson, I thought!

If Black-Eyed Susan can grow again after being eaten to within an inch of her life, so too can I keep growing when the economy tries to cut me down.

After all, Black-Eyed Susan sure has persistence. An essential quality in times like these.

[Picture by Benny Mazur]

Why Your 'Bonus Document' Is at the Heart of Your Newsletters

2009-10-06T10:31:00-04:00

Members of my real estate newsletter service know that they get at least one bonus document as part of the program.

Don't take the power of this document too lightly. It's at the heart of any successful newsletter.

Here's why.

The terrible truth is that people don't want to sign up for your newsletter.

They're thinking, "not another useless newsletter to fill up my inbox or mailbox!"

"No thanks!"

(That's because most newsletters are self-promotional garbage. Of course, you know better than to send one out like that.)

So you have to go the extra yard.

You can't just say "sign up for my newsletter". You have to give them something that's extra valuable. Something that they feel they have to own.

It's a reason why the bonus documents I offer have enticing titles, such as "How to Survive the Recession ...Stronger Than Before" and "50 Essential Tips to Prepare Your Home for a Speedy, Top-Price Sale."

Don't you just have to read those...at least if you're in the right target market?

It sure is a lot better than just "sign up for my newsletter."

So what you do is promote the document in ALL your marketing materials. Everywhere. Every time.

And when they sign up to receive it, let them know that you will be sending them your newsletter too (and that they can quit receiving it any time they want).

If you do this, you'll get hot leads from people who are really interested in what you have to say.

If the idea of a document or report isn't for you, check out the ideas for other "bait" offers in this article and this article.

Attention Real Estate Agents!

A great way to use your bonus document is to mention it on postcards.

Postcards are an effective (and cheap) way to contact lots of prospects and to entice them to sign up to get your bonus document and your newsletter.

So that's why I've put together some postcards that make the fullest use of your bonus documents.

At risk of bragging, I think they're quite beautiful. Jae, my designer, did a fantastic job.

Find out more here.

Will Your Newsletter Pester People?

2009-10-05T10:30:50-04:00

I had an interesting chat earlier this week with someone who is thinking of joining my newsletter service.

He was pondering sending a newsletter only every quarter instead of monthly.

Why only every quarter? Because he didn't want to "pester" his readers.

It's at that point that I said, "Hang on just a minute...."

Here's the thing.

If you are in danger of "pestering" your readers, you shouldn't send a newsletter monthly.

You shouldn't even send it quarterly...or annually.

You should send it never.

***

Fears of "pestering" come down to an anachronistic way of looking at the relationship with your clients and prospects.

My caller was doing business the old way. In the past, marketers interrupted people with their message.

They said "buy my stuff," and "hire me today".

And ... this is the worst sin of all ... "I'm really great, you know."

"Me, me, me!"

Sure....that's pestering - like the child who can't pass a Baskin-Robbins without tugging on his hapless parent's arm.

That kind of newsletter deserves to go straight in the trash.

***

But that's not the best way to communicate with your prospects and customers.

Instead, your aim with your newsletter is to make your prospects' and customers' lives better.

To help them do their jobs better, to make their days easier.

That's why instead of putting out a newsletter that's overflowing with self-promotion, you publish something that's packed with useful information.

Content that has value.

If you do that, people will start reading your newsletter. They'll even start looking forward to it.

Not only do you avoid pestering your readers, but you become in their minds a trusted advisor.

And they're much more likely to do business with a trusted advisor ... who is thinking of their needs ... than someone who interested only in themselves.

***

PS. If, despite all this, you are still seen as pestering your reader, then you don't want them to continue receive it; clearly, the two of you are not on the same page. It's better to spend your resources on someone who appreciates your newsletter content.

PPS. If you see this newsletter as "pestering" you, please unsubscribe. The link's at the bottom!

[Picture by Gordana Adamovic-Mladenovic]

Why Real Estate Agents (and Others) Need to Be Publishers not Advertisers

2009-09-24T09:39:44-04:00

Once again, Seth Godin is speaking my language.

In a post today he draws our attention to the difference between renting eyeballs (the old media way, where you buy an ad that is shown to the readers of, for example, a magazine) and actually owning the platform - owning the magazine or other media.

He gives an example of the local real estate agent:

She can spend to run ads every week in the local paper, or she can use the same money to start a legitimate media channel, a digital magazine, say, one that cheers on the school and gives the local paper a run for its money. And oh yes, the only houses listed for sale are hers. It might take a lot of work and even some money. But what does she get? A platform forever.

This is what I've been urging my real estate (and other) clients to do. Make their newsletter into their own magazine...be a community hub (like this hypothetical bar or this funeral home).

It's the route to owning the market.

Seth wraps up with this:

Compared to the cost of renting eyeballs, buying a platform is cheap. Filling it with people eager to hear from you... that's the expensive part. But if you don't invest in the platform, you'll be at a disadvantage, now and forever. The smart way to build a brand today is to invest in the elements of the platform... the product, the technology, the websites (plural) and the systems you need to make it easy for people to show up at your very own trade show. And then embrace these people and shoot for 90% conversion, not .5%.
Like most good investments, it's expensive and worth more than it costs.

Be a publisher, not an advertiser.

(P.S. When I last wrote on this theme, someone emailed me to say that yes, it's a good idea, but not practical. No real estate agent (or other) is going to do this. That's almost true. But I said in reply that the one that does do this - that does invest the time, energy and money - will clean up.)

Why I’m Not Making 'Newsletters' Anymore

2009-09-23T09:51:13-04:00

Listen up. I’m not making "newsletters" anymore.

Let me tell you why.

I guess I was bored. And I was boring.

I was embarrassed when people asked me what I did for a living. “I make newsletters for real estate agents and other people,” I would tell the ground.

Then silence.

Well, there isn’t anything else to say, is there? Except maybe a sigh of disappointment. This guy used to work on big-name newspapers. Why the heck is he wasting himself on newsletters?

Was he fired or something?

I was beginning to feel the same. Newsletters. What a snore!

* * *

Then one day I read some blog or something – can’t remember where. And it talked about looking at your business a whole new way.

More metaphysical, lawofattraction, naïve claptrap, I thought. Sheesh!

But I read it anyway, and this is what it said – more or less.

We’re all here to make some kind of contribution to the world. And if you’re running a business, that includes you, mister.

You’re not here just to sell a bunch of stuff (so you can buy a bunch more stuff).

You’re here to make a contribution. To help people.

So when I’d done reading. I took a shower…and started pondering.

Yes. I can do that too.

I can make people’s lives better.

I can be on a mission too.

And this is what I came up with:

I will make thousands of business owners’ lives better by giving them the tools to create real relationships with their clients, to bring in more money…and therefore to make their businesses more successful.

Because when their business is more successful, they will be happier, their families and friends will be happier – and the world will be a better place.

So my mission became: A Newsletter for Every Business (Even Funeral Homes).

And tell you what? Without a doubt, from that day onward, I felt good about my business again.

I wasn’t just making newsletters; I was making a valuable contribution.

And here’s where it gets strange. When I started to think like that, my business started to grow rapidly.

My enthusiasm and my desire to help must have rubbed off on the people I emailed and spoke with. I didn’t try to sell…I just tried to help. And so I made more money.

* * *

So how does that relate to you?

Easy really.

Whatever business you are in, you can discover what kind of contribution you can make.

If you are in real estate, you are helping people find environments that will allow them and their families to thrive.

If you are in insurance, you are protecting people from disaster, making them happier because they have the peace of mind that insurance coverage provides.

If you are in the mortgage business, you are making it possible for people to achieve their dreams and put a roof over their heads.

If you are a financial planner, you are taking the fear out of old age poverty by ensuring that people have adequate savings and investments.

If you are an accountant, you are helping people live more fruitful lives because you are saving them money that they can spend on things that really mean something.

And so it goes on.

And with your newsletter, you are sharing that contribution by showing how you can make people’s lives letter, proving that you are there for them and building a real relationship based on service, not on sales.

Your newsletter becomes part of your contribution. It's content is something you really want to share...because it makes you feel good.

When you think of it that way, every act of marketing, every transaction is a way to make the world better.

And when you’re making the world better, you’re making yourself feel better too.

And the money comes.

[Picture by acbo]

Real Estate Agents: How to Make 4x as Much Commission

2009-09-10T14:55:29-04:00

Here's another of my little charts. This one applies to real estate agents and mortgage brokers in particular - but the general idea applies to any business.

It makes a compelling economic case for keeping in touch with clients over the long term.

The chart shows the difference in commission earned by a real estate agent (or mortgage broker) who keeps clients for life compared to one who just does a single transaction with a client.

The difference results in four times as much earned in commissions.

How is it worked out?

Consider that a real estate career lasts 30 years.

The average time a family spends in one house is said to be 7 years.

So, over that 30 years, the family will move 4 times (4x7=28).

Instead of earning one commission over your career from one client, you earn four commissions.

Let's put some numbers on those bones.

If the median home price in the US is $180,000 and commission is 5%, the commission earned would be $9,000.

So four times that sum is $36,000 - a difference of $27,000.

Of course, this doesn't account for commissions shared, and portions paid to the broker and your costs...but the result is the same. You earn a lot more money by keeping a client for your career.

Of course, keeping in touch with clients through newsletters is the best way to be top of mind so that they call you when they're ready to move.

So how much will it cost to keep in touch with them?

If you do it by email, the cost is practically zero, as emails cost nothing to send.

If you do it by mail, and you send newsletters every month, you are looking at an approximate lifetime spend of $576 per client. (That's made up of $1 per month to print the newsletter for 360 issues, plus 60 cents per month for postage.)

Of course, that doesn't include membership to a newsletter program, running at around $49 per month - but that program can be used for multiple clients. And - of course - results will vary, postage and printing costs will go up, and not everyone will get every client to come back every time.

But still...the economics are pretty compelling:

Commissions earned over lifetime per client: $36,000

Cost to keep in touch with client over lifetime: $576

Total commissions minus cost: $35,424

versus..

Commission earned with one transaction: $9,000

Cost to keep in touch with client over lifetime: $0

Total commission minus cost: $9,000

Difference: $26,424

Now, multiply that by the number of clients you might have, and the math is truly astonishing.

As I say, not everyone will get the same results - you could not do as well. Or, with rising house prices, you could do better.

But when you look at it, the investment in keeping in touch is so low and the benefits are so high that it's something you must consider.

Find out more about newsletters for real estate agents and mortgage brokers.

How Repeat Customers Add Thousands in Income

2009-09-03T14:03:00-04:00

Here is a chart that every business owner should print out and paste above their desk.

What does this chart show?

The bottom line shows the cumulative income of a business that has zero repeat customers.

The higher line shows the cumulative income of a business that has 20% of its customers returning.

Interesting, isn't it? That top line continues going up and up - like compound interest in a bank account.

Yet here's the funny thing: most businesses do NOTHING to encourage customers to come back. Instead, they're continually going after new customers.

That's why most businesses have incomes that look like the lower line in this chart.

At the least this strategy is shortsighted; at worst it's negligent. What would the investors, partners and spouses of these business owners say if they knew so much money was being left on the table?

What's even more crazy is previous customers are the easiest to sell to. After all, they already know and trust you.

When you look at this chart, there's only one conclusion: can you afford NOT to at least spend a few bucks a month sending a newsletter?

Just sayin'.

Give Before You Take: the Art of Nurturing Leads

2009-09-01T10:54:55-04:00

So much of business is common sense, it pains me to write about it.

Yet so much that business owners do goes against simple common sense that...well... I guess I just have to point out the obvious.

Here's today's topic: give before you take.

Imagine you meet someone for the first time and they say, "can you lend me a hundred bucks?" or "can you write me a character reference?"

You'd think they were crazy, right? And, frankly, you'd think they were...to say the least... lacking social skills. Lacking finesse.

After all, these kind of favors should only be asked once the two of you have some kind of relationship.

Psychologists have a concept known as the emotional bank account. The idea is to make deposits into this bank account before you start to make withdrawals.

That means people give first...before they start to take. (After all, we all know where getting into debt leads us...)

So why do so many business owners think they can take BEFORE they give?

Why is the first communication they have with prospects a solicitation asking for business?

Why do so many real estate agents ask for work (that could be maybe $10,000 in commission) without first providing some kind of value to their prospects?

Why do so many insurance brokers expect you are going to trust them to find you good insurance at a reasonable price without first demonstrating that they are willing to do something for you?

The Art of Nurturing Leads

Relationships with prospects need to be cultivated carefully. The emotional bank account needs to be full before you start making withdrawals.

That means you need to offer value before you start selling.

When, for example, you send a newsletter, make most of it valuable content.
Provide value in your communications before you start selling.
When you ask people to sign up for your newsletter, show that you will give them something of value.

Give before you take.

[Picture by John Nettleship]

Why It Pays to Follow Email Newsletter Best Practices

2009-08-18T19:07:59-04:00

Interesting chart here from Marketing Sherpa. It shows that - particularly in recent years - email marketing has been more effective when email best practices are followed.

"At this point it’s no longer a walk in the park to get new subscribers; marketers are finding that they have to provide value, think about relevance and pay attention to their email programs to see continued increase in its impact."

The chart is below. More details at this link.