I’m back on land after 7 days at sea and excited to bring you this week’s issue of the NoteTools Insider. Talk about a powerhouse group of real estate and note investors! We shared best practices for creating passive income, solved each others problems, got lots of deals done and had a whole lot of fun (and ate way too much!).
BIG Marketing Lesson from George the Coconut Guy in St. Lucia
There is one VERY important word that kicks off all great marketing campaigns…and without a great marketing campaign, you have no leads. And with no leads, you have no business! Do you know what word it is? Take a guess. I’d love to hear from you if you guessed it right before reading on.
I was reminded of the power of this word during our shore excursion this week off the island of St. Lucia. A big group of us chartered a boat to cruise down the lush, green coastline of the island to enjoy a private swim in the most beautiful private bay before seeing the Pitons.
As we cruised into the bay, several locals in smaller boats and kayaks started paddling aggressively towards our boat. I do have to say I was a little afraid for my life not knowing their agenda and seeing two large machetes in the one boat as it approached.
My mind and nerves were put at ease immediately when I heard in a very loud voice…
“Fresh coconut milk…TWO dollars! Fresh coconut milk…TWO dollars!”
I’d never tried fresh coconut milk and I was ready to take the local vendor up on his offer when I realized I didn’t have any bills smaller than a $20. My new friend Keith from Michigan and his wife were the first and only takers for quite some time. Out came the machete that chopped and carved up a fresh green coconut just right to create a coconut cup of milk.
After several minutes surveying the situation, and having made only one sale, he approached me and said…
“Hey Mon…I’ve got lots of fresh coconuts. I give you one for free. You want one, Mon?” After a little resistance, I then said, “Sure!” With another short machete session, he’d fixed me up. I’d taken my first sip of fresh coconut milk ever and it was awesome!
George (we were now on a first name basis) then proceeded to do the same thing for my good friend Scott from Kansas City – “I’ve got lots of fresh coconuts, Mon! I give you one for free, too. Okay, Mon?”
It was then that I realized what had just happened.
Have you picked out the magic marketing word yet? I hope so.
I’d been given the puppy dog to take home overnight to see if the kids liked it first. Of course the kids are going to like it!
If you picked out the word F-R-E-E you are absolutely correct!
George had put the Law of Reciprocity to work and I immediately felt its impact working on me. I was already wondering in my mind how I was going to get George his $2.
Within minutes of giving Scott his coconut, two other couples came up and ordered two fresh coconuts each and handed George $10 total including tip. The momentum had kicked in.
I’m not sure how many total he sold that afternoon, but one thing was certain, I hit Scott up to loan me $2 plus tip and savvy George had created several sales giving two away for free J
So here’s the BIG question I want you to ask yourself…
“How can I use the magic word ‘FREE’ in my marketing to create more business – to create more passive income for me and my family?”
Here are a few suggestions:
Need more capital partners to reach your passive income goals?
-Write a “Free Special Report: How to Generate 8x What the Bank Pays in Interest Investing in Real Estate Secured Mortgage Notes” and offer it on your website as a “lead magnet” to build a list of interested prospects to invest in your real estate notes or projects.
-This request for the Free report could then lead to a Free Consultation over the phone or at your office. The prospect is invited to fill out a pre-consultation questionnaire before the actual appointment, so you only meet with qualified prospects.
-You could also host a Free seminar to your target prospect – maybe busy doctors, dentists or retirees and offer a Free lunch or dinner to come hear you talk about self directed IRA investing. At the seminar you share success stories and case studies that you’ve recently completed with other investors and ask for introductions to others who might be interested in the same great interest and great return investments.
What other ideas do you have for “Free” in your marketing? I’d love to hear what’s worked for you or ideas you plan to implement.
Shoot me an e-mail and let me know.
Give great value first…come from a place of service with no strings attached…then watch the capital you need to fund your deals come find you.