The Insanity Chronicles – Part Two
Author: Clayton Makepeace on August 8, 2011.
Last revised by: Rezbi on August 7, 2011. Why exploring a new way for copywriters and companies to work together is much MORE than just the best way to make company owners and copywriters richer:
Why your business’ survival may depend on it.
Dear Business Builder,
Last week in this space, I talked about insanity – how businesses and copywriters who repeatedly return to the freelancing model expecting better results should have their heads examined.
And we talked about how creating partnerships between direct response companies and copywriters can make both much, much richer.
The response from that article came fast and furiously (note: this is referring to comments on the original Total Package). No fewer than four of the world’s top copywriters called or e-mailed me personally to forgive me for saying they were insane and to thank me for giving them a whole new range of opportunities.
Their minds are literally buzzing with ways to take their income to the next level!
The comments left by readers here on our site were fascinating, too. Most were very flattering, but a few indicated that my frank but admittedly controversial take on freelancing may have inadvertently stirred up a bit of a hornet’s nest:
- John left a post saying that I’d kind of shot the freelance dream “in the butt” for those who want to live anywhere they want and still make a bundle.
- Ruth, who has taken two AWAI courses and who’d hoped they’d help her “make a lot of dough” said my take on the freelance copywriting model took the wind out of her sails.
- And Leon guessed that I’m talking about becoming a client’s agency – a daunting task for those who’d prefer to work at home in their underwear and take some time off now and again.
LET ME BE PERFECTLY CLEAR HERE:
1. Hey, John! You can abandon freelancing … partner with your clients … and STILL live anywhere you want – on a beach, on a mountain, even in a whole other country: I live where I want: In the Smoky Mountains – one mile off the breathtakingly beautiful Blue Ridge Parkway on a lavish 25-acre estate with horse barns, pastures, a trout stream and my own personal shooting range.
My closest client is five hours away by car – in Alabama. My biggest client is more than 700 miles away (a two-hour flight), in Florida. I just visit them two, maybe three times a year (a welcome road trip when these four walls begin closing in!).
2. Oh, Ruth, I’m so sorry! I did NOT mean to discourage you or anyone else! To the contrary: I clearly stated that I know tons of freelance copywriters who ARE making six figures. And when I said “six figures,” I also made it clear I was talking about income of not just $100,000, but as much as $999,999.99!
Heck. I even mentioned that some of my former copy cubs (actually, three that I know about) now earn more than $1 million a year as freelancers.
So please, please, please do NOT be discouraged! If you keep learning, practicing, networking with possible clients and working at it, the money you spent with AWAI is likely to be the best money you ever spent in your entire life!
Just please try to keep an open mind regarding how you want to work with your clients: The kind of working relationship you’ll have with them … what you’ll bring to the party … and how you’ll charge for your services.
The ideas I’m going to give you in this series are to help you take your income to the next level!
3. And no, Leon, I’m NOT talking about anything as costly or time-consuming as building an agency: True, I have chosen to go that route with Response Ink in the hopes of building equity in a company I can sell for a king’s ransom when I retire.
But that is not the source of the tenfold increase in royalties I get from partnering with my clients. That began when I was working alone in a converted 8’ X 12’ bedroom in my home in Florida!
You can do this entirely on your own. You don’t need an office, employees or any of the other accoutrements that go along with building a brick-and-mortar business.
All you need is a computer and a phone – and be willing to spend a few days each year in your clients’ offices. Plus, of course, you’ll need the skills I mentioned at the end of last week’s article.
My point last week was simply that the freelance model no longer works as well as it once did and that there’s a much, MUCH better way for copywriters to get to the big bucks in this new environment.
Today, I want to continue that conversation by looking at the downside: The consequences of NOT changing your approach.
Specifically, we’re going to consider a huge challenge every business around the world is beginning to face right now … and how by using my “partnership” model, business owners, marketing people and copywriters can actually USE this challenging new situation to grow richer than Midas.
Whistling past the graveyard
Unless you’ve been living in a cave recently, you already know the U.S. economy is slowing. Most economic pundits on CNBC and on the nightly news say we’re headed for a recession – or that we may already be in one.
The facts:
Consumers are losing their jobs in droves: In November, unemployment posted the biggest one-month leap since after 9/11 when the country was still reeling from the shocks of the terrorist attacks.
Our cost of living is roaring higher: The U.S. Department of Labor just announced that in November, it saw the biggest jump in producer prices in 34 years – a sure sign that surging consumer price inflation is ahead for 2008. Translation: You’re going to need MORE money to maintain your current lifestyle – and a LOT more to keep improving it.
The U.S. stock market is turning to mush: This January, we’ve seen one of the weakest New Year’s markets in decades. All the stock indexes have plunged substantially below their 2007 highs and every week is bringing new lows.
Consumers are closing their wallets: Faced with job insecurity, rising prices, and the specter of a recession, everyday people like you and me – people who are responsible for two thirds of all economic activity in the U.S. – are beginning to curtail discretionary spending. Sears and Kmart just announced that sales will be nearly 60% lower in 2008 than they were last year.
This is BIG news for every business owner, marketing exec and copywriter in the U.S. And if you’re a Total Package reader from one of the 64 OTHER countries represented on our subscription list, it’s big news for you, too.
Because like it or not, the U.S. is still the world’s #1 engine of economic growth. American companies and consumers buy up to 66% of the things mined, grown and made in your country. That means, as our economy continues to slow, so will yours.
That’s why top executives at major companies around the globe are already dusting off their recession contingency plans – to help their firms get through this economic maelstrom as unscathed as possible.
Some smaller companies and freelance copywriters are preparing, too; but most aren’t. And that’s tragic. Some might even say it’s “insane.” Because ignoring this economic slowdown and hoping for the best will NOT make it go away.
Despite what the buffoons who created THE SECRET may tell you, refusing to think about a bad thing does not make it vanish.
When confronted with an angry, hungry grizzly bear, burying your head in the sand and thinking happy thoughts is no survival strategy!
It does, however, position you with your hiney in the air, thus guaranteeing the bear a nice, warm, ham dinner.
On the other hand, smaller companies and copywriters who are in touch with reality in general – and this sobering economic reality in particular …
Who partner together to shore up companies’ defenses – who make the right moves to reduce costs and increase ROI while there’s still time …
Stand an excellent chance of not only surviving, but also emerging from this adversity with greater market share and profits than they now believe possible!
Put simply, you have a choice. You can be a victim or a victor in this slowdown:
You can ignore what I’m about to tell you – and wind up bitching and moaning about how much this recession is costing you.
Or, you can take action now to turn lemons into lemonade and come out of this rough spot with substantially more money than you have today.
There simply are no other choices.
So what’s it going to be for you?
You’re going to do whatever it takes to keep your income growing no matter how screwed up the economy gets – right?
Good – I knew you’d say that!
In a moment, we’ll take a look at some of the things you should be doing now to come out of this smelling like a rose.
First, let’s take a closer look at what you should begin preparing for. (NOTE: The next section is dull, boring, long – and absolutely essential to your financial survival – let alone to your prospects for success in 2008 and beyond. So pour yourself a cup of Joe, put your feet up and read every last word. It’s more than just marketing training; it’s life training.)
Recessions 101
Before we look at how you can turn this economic slowdown into a nice pile of cash for yourself, let’s make sure you’re thoroughly briefed on what’s about to happen to the U.S. economy, your clients and to your business …
Q: So what is a recession, anyway?
A: Well, the official definition of “recession” is “two consecutive quarters of negative economic growth.” Or in plain English, six months in which the U.S. economy shrinks; one half of a year in which the total market value of all final goods and services we produce declines.
Q: How will a recession affect my business or my clients’ businesses?
A: This is no distant, esoteric event. Recessions can have a very real impact on your income and even on your ability to pay the bills.
In a typical recession, some event causes wary consumers to begin cutting back on discretionary purchases – things they don’t need to survive. As a result, corporate profits shrink and many companies begin losing money.
With sales and revenues plunging, businesses go into cost-cutting mode: They begin closing manufacturing plants, distribution facilities and stores and laying off hundreds of thousands of workers. Banks, savings and loans, brokerages and other financial institutions lay off thousands more as their profits decline.
Then, as they see the unemployment rate rising – and worried that they, too could lose their jobs – consumers cut their spending even more and the downward spiral continues and deepens. More layoffs. Less spending. Until the recession hits bottom.
Q: Why aren’t the experts sure whether we’re in a recession or not?
A: The thing is, it takes time for the government to gather and analyze each quarter’s economic data.
We do know that the economy grew modestly in the third quarter of 2007 (July through September). But the preliminary numbers for the fourth quarter (October through December) won’t be released by the U.S. Department of Commerce until we’re two-thirds of the way through the first quarter of 2008 – at 8:30 AM Eastern time on Thursday, February 28.
But it’s not an official recession until we see two quarters of negative growth. So even if the U.S. economy contracted in the last quarter of 2007, we won’t know if we’re officially in a recession until the numbers for this quarter – the first three months of 2008 – are released on May 29. And by then, we may find we have been in a recession since October of last year.
Q: Can’t the government do something to keep recessions from happening?
A: No. Recessions are a normal, healthy part of the business cycle. And as such, they are inevitable.
Throughout history, economies have always grown like crazy for a while, then taken breathers to clear away some of the debt and other excesses that build up during boom times. Once that’s done, the next growth phase begins.
But of course, the fact that recessions are inevitable has never stopped politicians from wanting to appear to be doing something to fight them. So the White House and Congress and the Federal Reserve nearly always make a huge show of tinkering with the economy when recession looms – and by doing so, inevitably make things much worse.
The Federal Reserve cuts interest rates repeatedly. The president and Congress introduce economic stimulus plans – typically, spending programs for infrastructure (new roads, bridges, dams, etc.) and for defense. They pour billions of dollars into the economy to prime the economic pump.
And the Treasury pays for all this by cranking up the printing presses and flooding the world with newly printed and increasingly worthless paper dollars.
When they’re successful, the economy may avoid recession for a while. Or the recession may be shorter or less severe than it otherwise might have been.
But if history proves anything, it’s that the longer a government holds recession at bay, the deeper and longer the next downturn is likely to be.
Q: Why now? What triggered this particular economic slowdown?
A: The boobs in Washington – here’s how:
In 2000, the tech bubble burst. Investors awoke from the stupor induced by the heady stock market gains of the ‘90s and suddenly realized that the Internet and technology stocks they owned had little or no real value. The companies behind them had few tangible assets. And not only weren’t they producing profits, they were losing billions of dollars every quarter with no end in sight.
So they began selling and the stock market plunged.
First, the tech-heavy NASDAQ crashed. Then, the S&P and Dow followed suit. Nobody knows for sure how much paper wealth went up in smoke during the Tech Wreck. Some say $20 trillion. Some say $30 trillion. Whatever it was, it was an amount several times larger than the value of the entire U.S. economy.
Then, in 2001, we had 9/11 … anthrax in the mail … and new wars in Iraq and Afghanistan. Nervous consumers began snapping their pocketbooks shut. Corporate earnings fell off a cliff. Unemployment began edging higher. A major recession loomed on the horizon.
So to stimulate the economy, our central bank – the Fed Reserve – began cutting interest rates like crazy. The Fed Funds Rate fell to 1% – less than half the rate of inflation. The interest rate on an average 30-year fixed mortgage fell as low as 5.2% and one-year adjustable mortgages fell to 3.5%.
Every lender in the land wanted his share of this debt bonanza and so they lowered their standards to attract borrowers. The era of “triple-zero lending” began – a time when you could buy a home, a car, a refrigerator or just about anything else for zero-down, zero percent interest and zero payments for a year – sometimes longer.
Since the government failed to enforce prudent lending standards, millions of under-qualified and unqualified borrowers were enticed to grab hundreds of billions of dollars in easy, cheap money to buy more house than they could afford, fancier cars than they could afford and everything else under the sun.
And to make matters worse, many borrowed up to 120% of the artificially inflated equity in their homes and spent that, too.
Then, with the economy fairly humming along in late 2003 and 2004, interest rates began to rise. Under qualified borrowers with adjustable rate mortgages felt the pinch as their monthly mortgage payments shot up by hundreds and in some cases, thousands of dollars every month. Some had no choice but to default on their mortgages and walk away from their homes.
A glut of repossessed homes came flooding onto the market. By 2006, real estate values had cracked, then began to plummet. And as millions began to realize they owed more on their homes than they were worth – and that rising payments were putting them at risk for bankruptcy – the number of mortgage defaults skyrocketed.
With inventories of homes – newly built homes plus a new glut of repossessed homes – soaring, real estate values plunged even further. Developers and construction companies couldn’t sell the new homes they were building so their sales and profits plunged and many went out of business.
Subprime lenders – companies that loan money to under qualified borrowers at exorbitant interest rates – were losing money hand over fist, too. More than 200 went bankrupt in 2007. More will go belly-up this year. And even major banks like Citigroup, Bank of America, Wachovia and others are declaring hundreds of billions of dollars in losses on loans and loan-based investments they own.
Now, gun-shy lenders have raised their lending standards so high, the only people who can get loans are rich people who can prove they really don’t need loans. Average consumers are finding it harder – and in some cases, nearly impossible – to borrow money to make major purchases.
Plus, with the economy slowing and unemployment rising, savvier consumers are voluntarily curtailing their spending; socking money away for the rainy days they see on the horizon.
That’s why the 2007 holiday season produced abysmal sales for many retailers … why Sears and others are predicting huge declines in retail sales for 2008 … and why they, too are cutting costs and firing workers.
And of course, the effect of all this bad news is hitting Wall Street like a ton of bricks. Stocks have just had their weakest New Year’s start in decades. The Dow and S&P 500 are down substantially since their October highs. The NASDAQ is down a whopping 18% in less than three months.
If something isn’t done – and done FAST – a recession now seems inevitable.
Q: So what’s the government doing to fight this bad boy?
A: A lot. The Fed has cut interest rates by a full percentage point since last August and is promising to keep cutting rates as long as it takes to reinvigorate the economy.
It has also injected tens of billions of dollars directly into the economy to help bail out struggling homeowners and save troubled companies. And right now, both the Bush White House and Congressional Democrats are working on huge economic stimuli packages that will be paid for with even more unbacked paper dollars.
Maybe they’ll succeed in stopping this recession in its tracks. Maybe they won’t. The problem is, nobody knows how many more homeowners will default on their mortgages tomorrow, next month or next year. And that means nobody can know for sure how long this downturn will last or how severe it will be.
Plus, all that economic stimulus – all those hundreds of billions of unbacked paper dollars being created to jump-start the economy come with a huge price tag attached.
Because The Law of Supply and Demand – as immutable in economics as The Law of Gravity is in physics – dictates that every new dollar that’s created reduces the value of every other dollar in circulation.
That means your cost of living is going to go up.
It has already begun. Last week, the U.S. Department of Labor announced that inflation jumped higher in 2007 than at any time in the past 17 years.
It’s a major reason why oil prices are flirting with the $100-per-barrel mark and why gasoline prices are sky-high. And it’s also a major reason why gold, silver, platinum, copper, wheat, corn, soybeans – and most other raw materials, natural resources and food items – are soaring in price.
A few weeks ago, the U.S. Department of Labor announced that in November, wholesale prices posted their most dramatic gain in 22 years. And because those costs are always passed along to consumers, it means the prices you pay for just about everything you buy are going to jump dramatically in the months ahead.
Plus, inflation is surging all over the world. The countries that produce our oil, food and 80% of the products you buy at Wal-Mart are suffering from rising inflation – and in some cases, double-digit inflation. That’s why the prices we pay to import goods from overseas rose by 10.9% last year – the fastest rise in 25 years.
Q: Could the picture be any more bleak?
A: Yes. America could elect a gang of cutthroats and highwaymen this November who favor higher taxes on investment, on business and on personal income.
Only a drooling moron would favor raising taxes at a time when a lousy stock market and rising inflation are already destroying the incentive to invest … when business profits are dwindling, losses are rising and corporate bankruptcies are off the charts … and when consumers’ personal income is being threatened by rising unemployment.
Unfortunately, plenty of drooling morons are running for office right now. Many look like they’ll win. And if they make good on their promises to raise these taxes, this recession could turn into a full-fledged depression faster than you can say “Herbert Hoover.”
(Sorry – I promised you no more political rants for a while. Evidently, I lied.)
BOTTOM LINE: The U.S. now appears to be entering a period much like the late 1970s and early 1980s – a time of “stagflation” in which the economy and the stock market are stagnant or even contracting while our dollars buy less and our cost of living roars higher.
That means the rest of the world is in for a rough ride, too.
Unless direct response companies take action NOW to trim expenses while improving the quality, effectiveness and efficiency of their marketing, they’re going to find it much harder to grow. Many will suffer declining sales. And some will simply cease to exist.
And freelance copywriters and others who depend on these companies for their daily bread are going to find that it’s harder to attract new clients … harder to earn large royalties … harder to keep their income growing.
Unless, that is …
You Choose to Turn Recessionary Lemons Into Lemonade
Now, if all of us were in the business of selling food, shelter, energy or the gold bullion that millions are buying to protect themselves from inflation, we’d all be in pretty good shape.
But we aren’t.
We sell newsletters, supplements, self-defense courses, business success advice, dating advice, weight loss and fitness products, kitchen gadgets, designer clothing and millions of the other things that people STOP BUYING FIRST when faced with economic uncertainty.
And therein lies the opportunity …
Because at a time like this, businesses that don’t find new efficiencies fail. Businesses that don’t innovate new, more effective ways to market fail. Businesses that fail to wring every last penny of profit out of their operations – fail.
See, in good times, everybody’s a genius. When a rising economic tide is lifting even sloppily-run, inefficient companies, nobody notices the tons of money slipping through the cracks. All they see is that they’re growing and getting rich.
Now, let me let you in on a little secret: Not every small (500 employees or less) business owner knows how to run a business efficiently. The fact is, most aren’t businesspeople at all. They’re inventors … publishers … technical wizards … and yes, some are marketers – people who had a better idea and leveraged that idea into a business.
But now, faced with declining response rates and even negative ROIs on their promotions, these business owners don’t feel so smart. They realize that shepherding a business through tough times demands a special set of business-building skills they simply don’t possess.
Many are desperate. And many would be willing – even eager – to contemplate a new kind of relationship with a copywriter (like you?) who also knows how to step into a business, turn it upside down and shake every last penny of profit out of that company.
In short, to not only stem its losses, but to find new efficiencies that can keep its profits growing even while competitors are getting clobbered.
And if that’s the case …
Don’t you think that learning how to do that should be the #1 priority for copywriters who are determined not to allow anything – least of all, a slowing economy – stand in the way of their success?
… Like you, for instance?
For you copywriters, I’m really talking about simple line extension here.
I’m talking about adding a whole new set of weapons to your business-building arsenal. I’m talking about leveraging relationships you already have with clients to find new ways to help them, to make yourself indispensable to them and by doing so, to multiply your income.
I’m talking about giving your clients better copy AND giving them better advice – and better ideas – for every part of their businesses.
And if you’re an entrepreneur, business owner or marketing exec, I’m talking about learning how to do this yourself; or failing that, partnering with someone who can do all of that for you and also give you white-hot sales promotions.
How to be a super-hero: The Seven Percent Solution
Let’s say this recession slashes a particular business’ profits 30%. Suddenly, the owner is earning only 70% of the profits he earned last year.
Now, as a copywriter, you could just write a better promotion in the hopes of raising his response and average sale.
But to erase that 30% decline, you’ll need much more than just a 30% sales boost. Your admittedly inspired copy will have to boost his sales by a whopping 42%.
Willing to bet your copy can do that? In a recession?
I thought not.
But what if you could help his company cut costs by just 7% …
Bring him 7% more new customers …
Boost his profit on each product sold by just 7% …
Cause existing customers to order from him 7% more often …
Increase his average sale by just 7% …
And keep customers buying 7% longer?
These incremental improvements would restore his profits – and then some – in no time flat!
And if you improved each of these metrics just a little bit more – say, by a meager 10% – he’d be growing his profits by a respectable 24% per year – at a time when his competitors are losing their shirts!
If the company was doing, say, $40 million in profits before you darkened its door, your ideas and advice – combined with your solid sales copy – would have put an extra $9.6 million in the owner’s pocket.
And of course, if you’ve structured your deal correctly – asking for a meager 10% of the increase in profits you produce – that one client could be worth $960,000 to you.
In a single year.
In a recession.
Doesn’t suck – right?
What you’ll need …
To do all that, you’ll need to know more than just how to write great copy. You’ll need a whole new set of business-building tools.
You’ll need to have the knowledge and the skills to be able to …
- Spot the business owners who are most likely to partner with you – who need you the most – and then structure a working arrangement that’s so enticing, he can’t wait to sign on the dotted line …
- Position the company, its products and its spokesperson in ways that make them utterly indispensable – a NON-discretionary expenditure for prospects and existing customers in this challenging new environment …
- Spot and eliminate chokepoints in the organization and in its marketing procedures that unnecessarily increase its marketing costs and limit the effectiveness of its sales campaigns …
- Squeeze his current customer base to determine where his most likely prospects are hiding now … how they can be reached most cost-effectively … what they need to hear to make the buying decision … and by doing so, create a quantum leap in his new customer acquisition campaign response, conversion rates and ROI …
- Identify new product opportunities that fit hand-in-glove with your prospects’ and customers’ most compelling resident emotions – products that pretty much sell themselves …
- Innovate new offer structures that make it nearly impossible for prospects and customers to NOT act on your promotions …
- Harness the amazing power of the free Internet – and the explosive viral power of Web 2.0 – to trigger a tidal wave of new prospects and customers, without the high cost and capital risk of offline sales campaigns …
- And much, much more.
I’ll show you how to do all that and more next week and every week in February.
In the meantime, I strongly recommend you begin building strong PERSONAL defenses to see you through 2008:
- If you own stocks or equity mutual funds or ETFs, take a long, hard look at them: So far, real estate and constructions companies, sub-prime lenders and major lenders have been slaughtered on Wall Street. Right now, retailers and tech companies are also taking it in the shorts. Unless this thing turns around soon, pretty much every U.S. stock could take a beating.And if you own them – either directly or through a retirement plan – you could take a financial beating, too. This is no time to go it alone. If you have a financial advisor, the prudent thing to do would be to speed-dial him now and talk to him about getting your assets to safety.What’s safe today? Not much. U.S. Treasuries guarantee your principle and interest – but the interest rate they pay is less than the rate of inflation and you have to pay taxes on your gains, so you’re pretty much guaranteeing yourself a negative return. Even worse, if you buy them now and try to sell them to get at your cash later, you may find they’ve declined in value.You could try to learn from history. In our last great stagflationary period in the late 1970s and early 1980s, inflation hit 18% and the Prime Interest Rate peaked at 21% … and gold exploded in value to $850 per ounce – nearly $2,300 in today’s money. Since that’s more than double today’s gold price, you may want to ask your advisor about investing in companies that produce the yellow metal. When gold prices are rising, their stock can rise much, much faster.You may also want to take a look at companies that produce stuff we can’t live without. Energy and food, for example. They may decline temporarily when the entire market drops precipitously, but over the long haul, global demand and inflation are likely to push them higher.
- Fight for every tax deduction like a junkyard dog: Your cost of living is rising. Drooling morons are promising tax increases in your future. This is no time to be overly generous with Washington. Take a good, hard look at your taxes this year. Get professional help if you feel the need. Whatever you do, make sure you get every legal deduction that’s coming to you.Another thought: If you’re expecting a fat refund this year, there’s something seriously wrong. If you paid more through paycheck deductions than you owe, it means you loaned that money to Washington interest-free last year.Talk to your employer and/or your significant other’s employer about increasing the number of exemptions you claim. That will reduce the amount the feds confiscate out of each paycheck and keep more of your money where it belongs: In YOUR pocket.
- Do a budget: A couple of times every year, The Redhead and I sit down and figure out where the money goes. We look especially closely at things we spend money on but that we can easily live without. And we think about ways to live better on less.It’s a healthy exercise even in the good times. When the economy is slowing like it is right now, it can be a life-saver.
- Cut expenses. Every family and every business spends money on things that would never be missed if they were never bought. Find these expenses. Eliminate them with extreme prejudice.
- Sock away every penny you can: When you’re young, one of your greatest joys is feathering your nest. When you’re as old as I am, you’ll find it’s far more satisfying to watch your savings mount.Do yourself a favor: Discover this inestimable joy sooner rather than later.Follow this rule: Have six months living (or operating) expenses socked away. You can afford food, clothing, shelter, utilities, a phone, transportation, basic health insurance and emergency medical care should it be necessary. Nothing more.
- Get your name out there: Again: An essential rule to follow even in good times and in slow times, an absolute necessity.Network your fanny off. Use marketing forums, blogs, even general interest video blogs like YouTube to crow about your successes and to demonstrate your expertise. Use social networking sites like MySpace and others – and business networking sites like LinkedIn.com to connect with other marketers.Consider starting your own blog or e-zine. Share ideas in e-mails and letters to prospective clients. Pick industry conferences where your best prospects gather and use them to make new contacts.Make a list of every company you think you want to work with. Then methodically contact a minimum of 25 of those companies a week. Ask to talk to the person responsible for hiring copywriters. Show them your work. Give them some thoughtful ideas. Fill your dance card.
- Sharpen your business-building skills and add new ones: Instead of wasting time with the boob tube each evening, set aside a couple of hours each day for reading.First, if you haven’t already, devour the masters of ad copywriting – Hopkins, Caples, Schwab, Collier, Ogilvy. Then, move on to Positioning: The Battle for Your Mind (Ries & Trout) and to better understand your prospects, memorize Psychocybernetics (Maltz) and Looking Out for #1 (Ringer).Next, expand your understanding of the direct response marketing process with Bob Stone’s Successful Direct Marketing Methods. And whatever you do, check in here every Monday for more recommended reading – plus my own strategies for creating explosive sales growth even in tough economic times.
- Begin talking to existing clients about crafting a new, more intelligent relationship: Take a road trip. Visit existing clients and top prospects. Meet their marketing folk. Ask to see their marketing materials. Grill them to find the greatest challenges they’re facing now.If you’re doing mostly new customer acquisition promotions for a client, ask permission to give him some great ideas for boosting response in the promotions he sends to existing customers. Ask to see his package inserts and offer ideas for strengthening them.Offer suggestions to demonstrate how valuable an asset you can be to them far beyond the copywriting cubbyhole you’re in now.Then, ask if your client would be willing to consider a new kind of relationship – a relationship where you become his exclusive partner – a marketing-savvy collaborator willing to fight for every penny of profit that is now hidden in his business or slipping through his fingers.
We’re just getting started here.
As I said earlier, I’m going to give you much more on this next week and throughout February.
Last week’s article and this one are just the view from 30,000 feet. Broad brush strokes. Conceptual stuff.
Before this series is complete, I’m going to get tactical on your sorry butt – with very specific, “do-this; then-do-that” step-by-step advice to expand your expertise, become indispensable to your clients and produce legendary successes no matter what the economy throws at you. So stay tuned, my friend – there is much, much, MUCH more to come
Yours for Bigger Winners, More Often,
Clayton Makepeace
Publisher & Editor
THE TOTAL PACKAGE™
Rezbi’s P.S. Want to see more of these? Let me know. I have to take time out of my work to dig these up and post them, so please give me some feedback in the comments.
