My Favourite Marketing Expert – Jay Abraham
It is important to have heroes to look up to and one of my principal is marketing wizard Jay Abraham.
In this blog posting I would like to explain why Jay Abraham is such an inspiration to me.
For at least the last ten years Jay Abraham has been reported to be the world’s highest paid marketing consultant charging up to $40,000 for a ticket at one of his blockbusting conferences.
He has built up this amazing reputation based on remarkable success stories which have transformed businesses into incredible profit makers.
The success of marketing wizard Jay Abraham is based on powerful but simple ideas which I will explain below:
1 The strategy of preeminence – the welfare of your client or customer must come first and must be reflected in everything you do. Once you accept the strategy of preeminence then you realise that you have to educate your customers about all the good things that you can do for them. Selling is no longer about a selfish interest to boost your profits but to help your clients have a better life.
2 Optimization and upside leverage – almost everything you do can be improved many times over so the same activity can produce much higher results provided you are prepared to test, measure and learn
3 Funnel vision versus Tunnel Vision – most businesses in an industry feel constrained to only do what has always been done in a form of tunnel vision. These companies don’t see how other businesses find customer leads, convert them into sales and then encourage the customers to keep buying. Instead Jay Abraham recommends that you use Funnel Vision. Open yourself up to ideas from other industries and look for ways you can make it relevant to your customers As Jay Abraham says, if you are the first to use a particular tactic, it can have the power of an atom bomb.
4 The 3 ways to grow any business. You may think that there are hundreds of different ways to grow a business but Jay Abraham has boiled it down to just three generic ways to grow your turnover.
a) Increase the number of clients
b) Increase the average value of each purchase
c) Increase the number of times they buy from you.
This model is deceptively powerful and takes companies out of the endless search for new customers into looking at what can be done to increase business with the current customers.
5 The Power Parthenon is a way for you to build multiple lead generation tactics on top of each other. Each technique reinforces the other and protects you from risks inherent in the alternative Diving Board model of business growth.
I can’t do justice to the ideas of Jay Abraham in such a short article and I know that you are not ready to start with one of his very expensive conferences but I can recommend:
Jay Abraham has written a best selling book called “Getting Everything You Can Out of All You’ve Got” which is excellent and highly recommended. It is one of the few business books I have given a five star rating on my Business Coaching blog.
There is a superb audio recording of Jay Abraham made of up a combination of studio and seminar recordings called “The Mastermind Marketing System” which is available from Nightingale Conant
Jay Abraham has been a major influence on the ideas and methods of marketing coaches and business consultants throughout the world and is at the very centre of Business Growth Coaching.
If you are not familiar with his ideas I urge you to find out what you can and discover why businesses have been prepared to pay him $5,000 per hour plus a 25% share of the extra profits he generates.
No wonder Jay Abraham is known as a marketing wizard.
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