(DO IT! Marketing)
IT’S WEDNESDAY, so as promised here’s PART II of David Newman’s interview. Remember PART III gets posted Friday, Jan 18 at noon, with the last 3 installments following next week.
Once again, David Newman is the CEO of DO IT! Marketing, the author of “DO IT! Marketing: 77 Instant-Action Ideas to Boost Sales, Maximize Profits & Crush Your Competition“, a trusted speaker with over 600 corporate presentations over the last 20 years, and a Strategic Marketing Consultant for Fortune 500 Companies. And when I approached him with this interview, he was more than happy to give us this incredibly in-depth review on the problems SBEs face online–and the problems they create for themselves.
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Dan Gallo: In Monday’s post you introduced us to the I.D.I.O.T.S. acronym and covered the first mistake we SBEs (Small Business Enterprise owners) make, namely making all posts and interactions about us (I. stands for I, Me, My Syndrome). I’m guessing today we go for “D”, correct?
David Newman: Yes, Dan… you’re a fast study!
Dan Gallo: I was fast in the 90’s… That’s called wisdom, David… please continue…
David Newman: Okay, here we go…
D: Stands for “Dumb it down”. This mistake comes from the fear that if you give away your VERY BEST ideas, strategies, tools, tactics, insights and other secret sauce (yes, the very same ideas you get paid BIG BUCKS for with your paying clients!) you will somehow diminish the demand for your paid products and services.
So you “dumb it down.” You post a second-rate article. You remove some detail from that tip sheet because you want people to buy your products and services and not do it themselves. You post a video with only 3 of your 10 key ideas because, heck, if you gave away all 10 ideas, they’d never hire you – you’ve already “spilled the candy in the lobby.”
Yep – you guessed it: that’s IDIOT thinking rearing its ugly head.
How to do it right: The reality is – it works 180 degrees the other way. The ONLY way folks are going to pay you the Big Bucks is if they can experience of your genius FIRSTHAND – if they feel it, taste it, touch it, and fully experience it ONLY THEN will they want more. ONLY THEN will they share it with their colleagues. ONLY THEN will they call their boss over to look at your website or – better still – only then will they proactively email another decision-maker your link.
Imagine the Rolling Stones decided they wanted to fill stadiums with fans paying $300 per seat so they could make of millions of dollars… and the way they pursued that goal is to forbid radio stations from playing their songs (gasp! – for FREE) and they pulled their music from places like Amazon, Spotify and iTunes because, gosh! if people can get their songs for 99 cents, they’d never pay $300 to see them perform. Ridiculous, right? When we put this scarcity thinking in the context of the music industry we see exactly how faulty this argument is!
Do you want to be SHARED – or SCARED? It’s your call – but you already know which answer will make you more money. Unless, of course, you’re an IDIOT.
Action Question: When’s the last time you shared something for free that was so valuable people paid you good money in the main part of your business?
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Part III will be posted Friday, Jan. 18 by 12 noon Eastern
When I’m sitting across the desk from a qualified prospect I don’t hold back, in fact, I give them everything I have in order to move them from evaluation to decision to buy from me. With Social Media the only way to get to qualified prospects is to deliver content that has value. Hold back and you’ll never get to that qualified prospect. Social media is the veritable Land of Milk & Honey: It’s time for us to change from SCARCITY THINKING to ABUNDANCE THINKING.
Come back this Friday for Part III when David covers the concept of delivering “Information without invitation.”
You know that running an SBE is a long distance race, don’t be an idiot [sic] and run it alone!