Money-Making Secrets of Marketing Genius Jay Abraham and Other Marketing Wizards

397 Pages·2006·2.13 MB·English

Money-Making
Secrets of
Marketing Genius
Jay Abraham
and
Other Marketing
Wizards
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A No-Nonsense Guide to
Great Wealth
and Personal Fortune
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© 1993, 1994, 1997, 2002 Abraham Publishing Group, Inc. All
Rights Reserved. Reproduction, in whole or in part, without
written permission from the publisher in prohibited.
Money-Making Secrets of Jay Abraham is a publication of:
Abraham Publishing Group, Inc.
27520 Hawthorne Blvd. Suite #263
Rolling Hills Estates, CA 90274
Phone [phone]
Fax [phone]
www.abraham.com
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The Mr. "X" Storv — A Preamble
It Actually Happened Too Incredible To Make Up
The Mr. "X" Story — A Preamble
I'm Jay Abraham. You may have heard of me, or this could be your first exposure to me.
Whatever you've read or are predisposed to, I humbly submit that for more than 25 years I have
been working with small and medium-sized businesses (although I have had a few dozen
Fortune 500 clients as well). My experience has been unique. No other consultant in the history
of the world has had the opportunity to be an emissary to such a vast array of businesses.
Several years ago, I met a man who has become known as Mr. "X." He was a remarkably
success-driven man — running a deserving little business in the Midwest who was struggling
to get closer to the vision he had for his fledgling enterprise.
I liked him the first time I talked to him. He had a vision, integrity and a historic perspective on
life, humanity, and economic theory that fueled his huge ambition. More importantly, he had a
vision for his business that was giant and good and worthwhile — not merely for him, but for
his customers as well.
I got bitten by his bug and bought into his dream. Over the next five years we took his little
fledgling company from $300,000 in gross sales to a peak of $500,000,000. He made millions.
So too, did I. Then we parted — friends — and went our separate ways. I advised a lot more
companies. He started and invested in a lot of companies. And he wrote a best-selling book on
entrepreneurship.
We kept lightly in touch and always talked about trying to do something together, but just
couldn't find a project we both could get excited about. He liked start-ups; I liked leveraging
already-existing businesses.
One day in jest — (I thought) — he kiddingly said he'd decided to take the five years of hands-
on education and instruction I'd personally given him, along with the experiential
understanding he'd gained by actually applying, implementing and successfully incorporating
my methods in all his business activities — and create a "tell-all," "teach-all," "knock-off'
version of my very expensive publications and tapes that was better organized, better
presented, better clarified and better explained so people could apply my methods more
successfully and easily.
I thought, at first, that he was kidding. But I found out he was not.
Mr. "X" was dead serious. He took the project upon himself almost like a crusader on a
mission. But, he did it behind my back. I don't really believe his intent was covert or diabolical
— actually, the result was quite benevolent and invaluable to the public, and it became the
greatest testimonial to my work ever written — as you will see when you enter and begin to
study the text of this book.
As I learned later, Mr. "X" spent almost one solid year reading every page of my $500 basic
instructional, listening to every minute of every tape of my $5,000 Marketing Boot Camps, my
$15,000 Protege Training Programs, my $25,000 Strategy Setting Symposiums and my $1,000
Jay Days.
In addition, he painstakingly "poured" over the entire 2,000 page advanced marketing course I
created for $3,750 called For Your Marketing Eyes Only. And, he analyzed nearly 100 hours
of individual, quick-fix consultations I'd performed for a wide range of private clients.
He made notes, he called people and followed up on results, he constructed virtually every
important transaction, breakthrough concept and mindset factor that I'd taught him that
contributed to his personal $25 million fortune. He quite honestly dissected me at a level of
explanation and analysis I'd never taken myselfto.
Then he dropped the bombshell.
I regularly sell my publications for $1,000 to $3,750. My tape sets are purposely priced at
$1,800 - $5,000 a set. Attendance at a live, multi-day event starts at $5,000 and runs upwards
of five times that amount.
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ii The Mr. "X" Story—A Preamble
Mr. "X" as a friend and former client has been given copies of all of my materials. He has a
personal library of Jay Abraham materials worth, conservatively speaking, $50,000. And he
decided to sell this abridged "fast-track" version of me to the market at a mere $367.
You cannot believe my amazement when he ran ads and mailed letter offers to sell this highly-
condensed and better organized (the guy's a great editor and one of the clearest, most lucid
thinkers I've ever met) more tightly edited and more crisply presented and illustrated version of
my expansive proprietary information at literally pennies on the dollar.
I was horrified—yet in a funny way, I actually admired the ingenuity and resourcefulness of
what he'd done. And then I got my hands on a copy of this "book" — I use that word hedgingly
because it is really a reference manual that any business owner, entrepreneur, or individual
who someday wants to be such, should hold close to their hearts as a Bible for successful
marketing.
Concerned that the Mr. "X" book would undermine my own major marketing activities of my
other works, I called him and — well let's say "politely persuaded" him that clashing swords on
this matter wouldn't produce a happy outcome for either of us.
Sparks flew for about a month. But clearer heads finally prevailed and I acquired the rights to
my own material back from him, and my company took over marketing the manual.
What I discovered, however, was very interesting. This book — the one you are about to
journey into — has become one of the best calling cards I could ever leave to introduce the
explosive money making and business growing concepts that I extol.
Keep in mind that in addition to consulting and working intimately with more than 6,000
companies in every industry imaginable, over the years I have consulted, collaborated, and
exchanged ideas with almost every leading business mind, coach, teacher, mentor, and writer
in the world.
In essence, I have been allowed to become a funnel through which the most aggressive and
innovative marketing concepts known have been allowed to filter. As I have shared these
concepts, strategies, and ideas, it has allowed me to build a rather massive "life's work" that
you can use to grow your business, and your personal wealth, no matter what industry you may
be involved in. My explorations in the business arena have provided me an unparalleled
perspective that I recorded and have always been eager to distribute with my clients for the
benefits of both themselves and their companies.
In my postscript at the end of this book entitled Profit Odyssey, you can read about my most
fortunate and spectacular sojourn that has, and continues to allow me to find the most advanced
strategies in the modern business world.
Please note that a business strategy is only a potential until it is implemented. In the pages of
this reference are sufficient strategies to remake your business and your profit structure.
Wrapped within these covers are veins of gold that are silently waiting for you to open and
mine. But to obtain results, you must take the action.
Therefore I urge you not only to, read, but also to digest, experiment, test, and implement the
business philosophies, strategies, and procedures that are outlined within these covers. Take
time. Read. Understand. Implement!
Go one chapter at a time if necessary. Spend a few hours studying a chapter, outline your
business strategy, take it, implement it. Test... test... test. Study the results. Refine your
approach. Profit from what you learn. And continue to move forward to other concepts and
principles. Do put as many of these profit growing possibilities into place at your business as
quickly as possible — whether you own the business, or work for it. Some of these concepts
are so simple that they may startle you, but when enacted, you will be amazed with the results.
Do live with this text. It can, and with your cooperation will, change your life.
This product—Money Making Secrets of Marketing Genius Jay Abraham and Other Marketing
Wizards, is designed to give you a massive overview of my general philosophies, to give you a
keen under-
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TheMr."X" Story —A preamble iii
standing of what has generated 4 billion dollars of increases around the world, and to give you
enough of a handbook of opportunities, options, and action opportunities, that you can't help
but find but one or multiple strategies that will make you immediate and a long term profit.
It's a great product. The accompanying bonuses are wonderful, but it is designed to be part of a
continuum that advances you to higher, bigger, and better levels of achievement, aspiration and
result.
Most people will share with you seven or eight success stories. I have 2,000 success stories. I
have people that have purchased this book and have increased their revenues 12 million
dollars, 12 million dollars! It presupposes that you are someone with a prejudice toward action,
application, interpretation and implementation.
But what you've got, combined in this remarkable work, has nothing to do with the publishing,
or the presentation of value. It has to do with the content. What is condensed here is the core
essence of a hundred million dollar, concept, strategy, philosophy — actual transactional
secrets and systems — that I have used to grow so many companies I've lost count.
Condensation is a disservice. Distillation is a disservice. This book is a ruthlessly, sinewy
compilation, presentation, and organization of basically $50,000 worth of my copyrighted
material. The man who created it — who I was annoyed with because he plagiarized my
material — was a brilliant organizer, a brilliant synthesizer, and a brilliant communicator.
I never set out to do that. I set out to bring you unprecedented, incomparable and unique and
successful breakthroughs, ideas and materials that I could get onto paper, or get to a live
audience, and not worry about the tightness of the presentation or the perfectness of the
communication.
This man wanted to make sure that anybody in any field of endeavor, tangible or intangible,
retail, wholesale, professional services, regulated, nonregulated, sophisticated, or lay-type
people selling expensive or inexpensive products, one step, two step, multi-transaction, to an
end user, to multi-influence decision makers, had a reference and money-making business
reference system so extraordinary that they just turn to a scenario and pick what they needed
and get an infused education, and in a reasonably short time, know exactly what to do and how
do it.
I expect it will connect and link you together with a powerful and superior philosophy,
strategy, and collection of actual tactical steps, activities, actions of what I call competition
blocks, that you can use to run rings around your competitor, to keep your business in the
forefront, to increase the profitability from every sale that you make, and to make your
business much more enjoyable to own and operate.
Use this book wisely.
Now, I invite you to embark upon your own journey into greater profits, rewards and
potentials. And thank you to Mr. "X", whose name was agreed to be withheld in our
settlement, for making this affordable venture into my wealth-growing-philosophies available.
I hope you journey is enjoyable and rewarding, but please think of this as "Jay Abraham 101."
There is much more to come, and I invite you to join me in marketing education that can last a
lifetime.
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Introduction
Introduction
Without revealing my identity, I was one of Jay Abraham's biggest clients, and I paid him more
than 2 million dollars in fees and bonuses. If anyone knows Jay's secrets and principles at a
deeper level than mere basic theory and philosophy, it is probably I.
I've used them to generate $25,000,000 in sales and catapult my company to the leader in the
field. I sat down to summarize this for a number of reasons. I don't have to go into them at this
point, suffice it to say that what I've done with Jay's principles, concepts, and methods is
probably more clearly stated, more powerful, and more organized than what he's ever done for
himself.
It is my intent for you to profit to the hilt with this. If you don't it isn't because it's not possible,
it's because you haven't acted.
In this book I'll be quoting extensively from Jay Abraham's publications and to a lesser extent
from other works. Since I want the reader to clearly differentiate between my written
comments and the material I quote, my comments will be indented, italicized and printed in a
typeface one point size smaller than Jay's quotes, and the quotes from the other wizards. In that
way you can separate my editorial remarks from the quotations of others. I use quotation marks
sparingly in the text, only when there is a "quote" within a quote.
My comments are added only to make these valuable lessons more easily understood and
assimilated by you. In most cases, I will not mention the specific publication that a quote
originates from. A bibliography of recommended reading is included in the back of the book
that mentions all books and publications recommended and referenced in the preparation of
this book.
When you see a word in boldface italic, that means that it is a new concept, phrase, or principle
that might need, for some, further clarification. These words will appear in a glossary at the
end of the book, where a short definition explaining how it is used in this text, will be
provided.
The first few chapters of this book will each elaborate on one example of Jay Abraham's
principle marketing themes. Then we will switch gears and cover creation aspects of starting a
business with emphasis on marketing for new companies. Next we'll cover the balance of Jay's
marketing message and important lessons from other marketing wizards.
You should not expect to master the contents of this book in a few days or weeks. This book is
a virtual encyclopedia of the world's most profound marketing lessons. It will take years of
experience for you to get it all down pat. You should refer to this book again and again over
the years ahead. Each time you pick it up, you will learn new lessons of great value. Never
before has a marketing book contained so much wisdom and so many money-making insights.
Study it, apply the lessons and in time you, too, can be acknowledged as a marketing genius.
—Mr. "X"
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Contents vii
Contents
Chapter 1: CUSTOMERS i
Your Greatest Asset — Is Your Customers 1
Your Best Prospects Are Your Existing Customers 1
Keep An Accurate And Timely Customer List 2
Begin A Perpetual Communication With Your Customers 2
Reinforce The Buyer's Buying Decision 2
Upsell Or Resell Right At, Or Immediately After, The Initial Sale 3
Increase The Marginal Net Worth Of The One-Time-Only Customer 3
Practice Perpetual Reselling And Cross-Selling 3
Ethically Exploit All Available Marketing And Redeployment Opportunities 4
Let The Marketplace Decide What They Want 4
Make Conservative And Inexpensive Tests To Determine Your Market 4
Understanding The Marginal Net Worth Of A Customer 5
Break Even May Not Be What You Think 5
Calculating Your Customer's Value 5
Consultant/Client Interview Illustrating Geometric Growth 6
Become A "Personality" Your Clients (Customers) Recognize 7
All Business Start-Ups Should Have A Follow-Up Strategy In Place 9
Overlooked Opportunities Exist In All Businesses 9
Use Simple Phrases At Closing Time To Add Undiscovered Profits 10
Using Telemarketing To Boost Your Profits 11
Repeat Business For Many Is An Untapped Gold Mine 12
Your Offer Must Be Compelling 13
Use Limited Availability To Motivate Customers 14
Educate ... Educate ... Educate Your Customers And They Will Buy 15
The Cost Of Reselling An Existing Customer Pales To Getting A New One 15
Observe Customers Closely To Understand Their Needs 17
Work All Complaints, And Read Your Mail 17
Chapter 2: EDUCATION 19
You Must Out-Market Your Competitors 19
When You Educate Your Customers, You'll See Your Profits Soar 19
You Must Lead Your Customer By The Hand 20
Always Give Your Customers The Reasons Why 20
The More Factual You Are With Me, The More I'll Favor You 20
Educate People To Appreciate The Value Of What You Deliver 21
Tell Your Customers The Truth 21
Position Your Company As An Industry Expert 22
Send Out Press Releases 23
Defer "Self-Serving" For "Education-Rendering" Marketing 23
Use Preemptive Marketing To Make Customers Think Of You First 25
Chapter 3: HOST DEVICES 29
Find Synergistic Relationships From Which To Profit 29
Offer A Consideration To The Host For The Benefit Of His/Her List 30
New Profit Centers Change Customer's Marginal Net Worth 31
You Are Not Going To Gain A Customer For Free 31
Host-Beneficiary Relationship Examples 32
Three Reasons Why Businesses Do Not Implement Profitable Activities 33
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Never Turn A Customer Away, Profitably "Refer" 34
A Referral May Not Be Worth As Much As A Sale, But It's Something 35
A Wonderful Way To Generate An Ongoing Stream Of Business 35
How To Create A Host/Beneficiary Relationship 36
Address The Fears Of The Host Immediately 37
Typical Objections You Should Be Prepared To Answer 37
Things To Watch Out For 38
If It Doesn't Cost You Time Or Resources And Makes You Money. Do It 39
Start Out With A Pilot Program 39
You'll Be Amazed At What You Can Come Up With 40
Those Methods May Be "Unconventional" But They Work 40
Mailing List Rental Is Another Income Generator 41
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viii Contents
Chapter 4: START-UP MARKETING 45
Start Out With A Professional ''Logo" (Trademark Image) 46
No Company Can Get By Without Advertising 47
Forgo Institutional Advertising 47
The Bottom Line On Advertising Lies With Its Integrity 48
Rarely If Ever Does A Product "Sell Itself 48
Grow The Value Of Your Customer's Business 49
Various Steps Of Marketing 50
Your Goal Should Be To Capture The Dominant Market Position 51
20% Of Your Customers Will Contribute 80% Of Your Volume 51
Show A Continual Interest In Your Past Customers 52
Offer Your Customers What "They Want" 53
Companies Get Big Because They Practice Honesty 56
Word Of Mouth Is Critical 56
Without Integrity. No Company Can Have Positive Word Of Mouth 57
Chapter 5: MOTIVATIONAL MARKETING 61
Do Away With Indecision Soon And Choose A Definite Goal 61
You Are What You Think You Are 62
Know Exactly What You Want 62
Your Thoughts Control Your Actions 63
Every Adversity Carries The Seed Of Greater Benefit 63
Your Marketing Ideas Must Be Nurtured And Integrated Into
The Blueprint Of Your Future 64
All Ideas Begin As The Result Of Definiteness Of Purpose 64
So Much Of What We Accomplish In Business And In Our Marketing
Success Hinges On Our Mental Attitude 65
Persistence Is Insurance Against Failure 66
Chapter 6: UNIQUE SELLING PROPOSITION 69
Adopt A USP That Addresses An Obvious Void In The Market-Place 69
Identify Needs That Are Going Unfulfilled In Your Industry 70
Focus On One Niche — Keep The Promises You Make 70
Be Clear And To The Point 70
The Price-Discount USP 72
The Service-Oriented USP 73
The Quality/Snob-Appeal USP 75
Reinforce Your USP In Every Aspect Of Your Marketing 76
Suggestions On Finding Your Niche 77
Embrace, Believe, Postulate Your USP With Everyone 77
Use The USP To Create Repeat Sales 78
Extend Your USP 79
Carry Out Your USP In Your, And Your Employees, Actions 79
Convey Your USP Even To Dissatisfied Customers 80
Chapter 7: DIRECT RESPONSE 83
Salesmanship In Print And/Or Over The Air 83
Direct Response Brings Measurable Results 84
Direct Mail 84
Identify Your Market 86
The Giant Companies Use Direct Mail 87
Telemarketing 87
Should You Undertake Telemarketing? 88
Print Advertising 89
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