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Loyalty Killing For Maximum Profit.


By Steve Von Loren - Posted on 07 April 2010

Now we can take your understanding of the strategy one step further.  We are truly talking about capturing that segment of your competitor’s 95% of their best clients and prospects.  But, is group not only represents 95% of the money flowing into an industry this year, it is also where all the backend revenue is going to flow in next year and the year after.
Because we are going after the purse that holds 95% of the money in the market, the mission is to create such a huge gap that the very definition of said gap is transformed, and a huge chasm is formed between you and your competitor --- it becomes monstrous loyalty-killer. That’s the standard it has to be met. You are asking someone not only to buy from you, but to switch and give up a relationship, give up trust, give up everything.
In every effort, you should be creating huge gaps between yourself and your competition with “loyalty-killer” incentives.  Simply stated, you need to prove that what you provide is measurably superior, longer lasting, and you offer better service than the competition.  The switch is well worth making!
Perhaps an example of an ad here.
If you are doing an upgrade for a prospect, your information should never suggest or appear to be a down-grade in quality or benefit (either because you did not work at it, or your strategy is weak)! So besides illustrating and showing superiority, you should also think of doing comparisons. These comparisons should clearly illustrate where the prospects are, what the differentiation is, and how much more than valuable your product and service is.
You want to demonstrate the low risk and high benefit/high return ratio to your prospect. You have to prove this stuff.  If you prove all of these points unequivocally, and you further add upgrades, trade-in discount programs, or rebate programs, you cannot fail!

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