One of the most difficult tasks for any business is acquiring new clients. As a marketing strategist, I’m always looking to learn more and better ways to help businesses convert prospects into clients. Recently, I listened to a podcast that relayed an eye opening principle.
“It’s often less expensive to deliver results, than to convince people to give you money to get them the result.” – Dean Jackson
At first the concept didn’t fully sink in for me. How do you deliver a result to someone who isn’t already a client? Once I thought more about it, I realized the principal is one drug dealers have been using successfully for ages.
I’ll be honest; I’ve had little personal experience with drug dealers. Still, in the short number of times I’ve been propositioned, there weren’t any power point presentations with case studies about a drug’s effects. There was little if any effort put into convincing me to be a junkie.
They’d usually just say something along the lines of, “You’re missing out, you should try this”, and try to slide me a sample. I’d always politely decline and move on, but if the jewelry, clothes and money wads were accurate indicators, quite a few people found them persuasive.
Convincing is often an uphill battle.
Think about the process you go through to win over new clients. How much time, effort and money do you put into the proposals? How difficult is it to convince your potential buyers that you understand their needs? Are they skeptical of the results you can deliver? Do you have to spend a ton of time educating them about what you do, or how you do it, before you can sell to them properly?
In comparison to the questions above, how much time, effort and money would it take you to deliver a sample of your results? Often it takes fewer resources to deliver the actual result than it does to sell the idea that you can deliver the result.
If you can find a way to offer a sample of your results to the right prospects, your free offer may be so compelling that you meet little resistance when pursuing future sales. After experiencing the successful outcome, the converted prospect may come to you begging for more.
To make sure you don’t lose your shirt, there are three critical questions you must answer before you can sell like a drug dealer:
- What is the average dollar value of the resources you spend to acquire a new client?
- What’s the dollar value of the resources it takes to deliver a sample of the results your product or service provides?
- How likely is it that you can convert prospects into clients once they experience the results?
Once you compare the resources you’re spending to close a prospect to those you spend to deliver a successful result, if creating the result is cheaper you’re winning already.
Even if giving a free sample of the result is more expensive than selling the old fashioned way, you could still be a kingpin if your free offer will meet less resistance than a traditional pitch.
Lastly, remember not to offer your freebies to just anybody. Be efficient by targeting the prospective clients that are most likely to become long term happy customers. Pushing steroids to potheads probably isn’t the smartest move.
Just remember, I said think like a drug dealer. Crack is wack!
What have you found to be the best way to generate new client growth? Leave a comment and let me know.