As a guerrilla marketer, your primary focus is to optimize business from existing customers. Your current customer is 8 times likely to buy another product or service from you than a new prospect. For this reason; guerrilla marketers focus their energy concurrently as follows:
- 65% focus on current and past customers
- 25% focus on prospects and new business – sell to individuals and market to groups
- 10% focus on the rest – universe.
Success in sales and marketing is a result of deliberate actions. You must identify the 80% of your customers who bring the 20% of your revenue and focus to make them very satisfied. To do that, understand your customer value. How much income do you get from a particular customer in a year? How much cost does this involve? What is the net income from a particular client? Then prioritize the client as much as possible depending on the income you get from them.
Many young executives and corporate people tend to think that they know everything. That is great.
However, information is not the problem.
Failure to take action is. Plus, many people take decisions based on hearsay and not data. And that is why they continue to think that their investment decisions are great, which is wrong.
One of the common questions I am often asked is:
If I have Ugx. 5m (US $2,300), which top 3 investments would you advise me to invest in Uganda and why?
There are several reasons why you may not attain peace at your home.
1. You don't have a clear strategy or model of how to manage family finances. Many of the people in my private mentor-ship program complain about their spouses when it comes to managing family finances. Do you operate a join family bank account, on which both of you are signatories. The question then is how much should each contribute to that account monthly? Do you contribute equally?
In 2012, my firm, Summit Consulting Ltd won a bid to formulate a risk management strategy for a government institution. This is our first assignment. Being the team leader, I had to research extensively as you can imagine -- just looking for a process that works. My key questions were: "How and where do I start from?" As a consultant, I am expected to know more. And I had one chance to prove my competences and those of my firm, www.summitcl.com.
As the firm leader, we spend thousands upon thousands of dollars finding for a system that works all the time. At first, most of the documents available on the Internet were just standards, theoretical models and presentations and general writeups about risk management. I am happy to tell you that we finally found a process that, if you implemented well, risk management become very easy. This process is briefly explained below. If you want the whole kit, risk management tool kit, do not hesistate to contact me and start earning more money as a risk management consultant yourself!
“People don’t buy your product or service features per see. They are interested in the benefits they get when they use your products and services. Your website, brochures and presentations should error on showing the benefits of your products or services.” Mustapha B Mugisa, 2015
Following on last week’s Guerrilla insights, in this issue we explore guerrilla sales insights #2, how to package your services to your prospects.
Here is the #1 sales rule of all:
Never sell products – sell benefits.
Never sell services, sell benefits.
Never sell features, sell benefits.
Never sell insurance, sell what? ... benefits.
Always focus on selling benefits. No one is interested in your product features. No one is interested in buying insurance. People are interested in the peace of mind they get when they buy an insurance policy with you.
When it comes to selling insurance, you must aim for an emotional connection. How do you connect with the prospect emotionally without hurting their feelings? How do you sell to the heart & soul, while creating curiosity in the mind of the buyer? By the end of this post, you will know how to do so.
As we discussed in the previous issue 1, vol. 1, always tell personal stories. Once you have many stories, tell them. This involves investing time, energy and imagination.
Guerrilla insurance sales insights
- Before you meet any prospect, research about them and attempt to reach them.
- Instead of selling features, focus on highlighting the benefits of the products or services. People don’t buy water. They buy the cure for thirst.
- Product knowledge is by far your #1 guerrilla marketing weapon. Invest time to read and understand your products/ services before you meet any prospect
- The best insurance sales professional talks 20% of the time. During any meeting, the client talks 80%. Why? Great sales people listen more so as to understand the prospect unique needs. Are you great at asking questions that stir interest?