marketing) top ten strategy picks by jay abraham

8/4/2019 Marketing) Top Ten Strategy Picks by Jay Abraham

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Jay AbrahamsTop Ten

Picks

2003 The Abraham Group, Inc. All Rights Reserved


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Jay AbrahamsTop Ten Strategy Picks

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Introduction

Over the years, I have researched, created and applied literally hundreds of marketing

strategies for my clients. These strategies have been worth billions of dollars in revenuesand profits to myself, my associates and my clients.

You can imagine that after 30 years in marketing that I have my favorites. Strategies I

consistently rely on to massively increase your business and create a level of business

momentum that is unstoppable.

Outlined below are TOP TEN of my favorite and most successful strategies which you

can adapt, adopt and apply to your business. I would think hard about their implications

and ramifications on your business. They could be massively profitably, especially whenyou think strategically.

You have two choices (actually only one):

1) Be impulsive, impetuous and tactical by opportunistically or randomlyimplementing any of these strategies. However, if you do, you relegate them to

being mere tactics, and you will compromise their power to massively grow your

business. Youre leaving massive amounts of money on the table.

2)Your other option is to think and implement strategically. Here you have a

real choice: You can either pick the single most obvious strategy and turn it into a

SUPER-strategy An overarching concept and plan which everything elsecomes under. OR you can treat a strategy as a pillar under your currently existing

overarching SUPER-strategy, which I call a command/field strategy.

Begin by picking just ONE of these strategies and begin by testing it. If you find it

works, even marginally, you may want to consider implementing it as a master strategy

or command/field strategy. If you do, I can guarantee that additional opportunities willbecome evident to roll out and fully exploit the advantage you have created. The success

you build will be enduring and allow you to add more pillars as you progress.

One word of caution: Although you can, it would be foolish toimplement thesetactically, willy nilly, or half heartedly. Again, their power lies in their being

implementedstrategically, once youve tested and debugged the individual details.

Strategy #1. The Power Parthenon Strategy

Years ago, it used to be that any single marketing tactic of mine could propel a company

to almost instantaneous success. That still can be true, although times have changed and

the market has become rather impervious to mere tactically oriented efforts.


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Thats when I discovered the secret and power of developing a series of interconnectedsub-strategies each connected and integrated to a single overarching theme or premise.

Like pillars in the Parthenon in Greece, you want to develop and implement multiple

marketing efforts which advance your company on a rock solid and calculated basis.

Maybe your first pillar should be to implement a referral system (since its the lowestcost), and then add additional pillars such as direct mail, email campaigns, salespeople,etc. Whatever makes business, financial and marketing sense. The only conditions are

that you be willing to test and re-invest some of your profits into building additional

pillars to increase your marketing foundation and grow your business.

In my work today, I demand that my clients not think so mono-dimensionally and begin

immediately to develop their own Parthenons so that theyll always have multiple sources

of revenues which they can rely on.

Strategy #2. Engineering Host Beneficiary Relationships

I have been repeatedly asked over the years which of my concepts I treasure the most.

If I only had to choose one, hands down I would choose Host

Beneficiary and Joint Venture relationships.

Why? Because they are easy to engineer, can be implemented quickly and relationships

are one of the most leverageable hidden assets you have in your hands.

However, Host Beneficiary relationships which are developed and used strategically can

be much more lucrative than just opportunistically or conveniently creating a joint

venture here or a relationship there. Its leverage on top of leverage. Just take a look at

the credit card industry as one of the most successful strategic uses of these types ofpartnerships with their mailings to their clientele.


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Strategy #3. The Strategy of Preeminence

Although Im honor bound not to divulge who I originally learned this strategy from, I

can tell you it was from someone who dominates their industry.

Their secret is simple (although it requires a long term view). Establish yourself as a

leader in your industry. Structure your entire business to strategically take a stand, andadvocate a certain course of action which every prospect and client should take and

benefit from.

Then religiously follow through.

Every communication every newsletter every presentation every sales meeting

should reinforce the concept of the client being served at the highest levels through

advocating your particular unique perspective and leadership.

If youre in the real estate industry, maybe you can offer a unique perspective on how thebuyer can reduce their risk. Or if you are in software, maybe you have a conviction about

the importance of project management when implementing software. Or if you are in

retail, maybe you advocate that people look at buying their clothes as an investment intheir success.

The key to the success of the strategy of preeminence is to use it strategically, using it asan overall context for your business. The strategy demands that you are fanatical about

serving your clients at the highest even level even when it may be easier or more

profitable to do otherwise. I know lots of companies who have tried to implement itimpetuously, only to have their efforts diffused and diluted because they wereuncommitted and thinking short term.

Dont be one of those. Be one who thinks long term, and is strategically rather thantactically oriented.

Strategy #4. The Sequential Integrated Marketing Strategy

As I said before, in this day and age, unless you really understand your market and all the

related dynamics, single shot home run marketing endeavors are almost doomed.

To counter that phenomena, I developed a strategy of I call the Sequential IntegratedMarketing Strategy.

Right now, its my favorite. Even in my own business. Especially with the ability to

exploit the power of email.


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This strategy is not about repeatedly assaulting your prospect into submission. Its not

about SPAM. Its about first developing a marketing premise which you want to offerthe market. Then you nurturously educate, edify and inform your target audience with a

series of communiqus designed to approach the subject from a variety of different

perspectives. All will have some sort of call to action which you offer the opportunityto get more information or to order the product.

If done correctly, the prospect will feel as they are guided to buy your product with

overwhelming evidence that its the right thingfor them to do. Theyll feel that you tookthe time, that you care, that you are willing to go that extra mile to make sure its the

appropriate choice for them.

Strategy #5. Risk Reversal Strategy

Last year, I emailed my client list and asked them to give me success stories, case studiesand testimonials.

I was pleasantly surprised with what I discovered.

At least a third of them referenced the success they had had with risk reversal. Thatsgood news, but it gets better. Most of the people implemented risk reversal in response to

a market demand or opportunity which they may have lost had they not tried it.

BUT--- What if they implemented a risk reversal strategy on a strategic basis?

What would happen if they implemented risk reversal as a corporate policy or as part oftheir USP?

Ill tell you what: They would have a decided advantage in the marketplace.

Strategy #6. Referrals

Building your business using referrals is the lowest cost way, most reliable way to get

clients. And the clients you get will not require a long sales cycle and will usually stay

with you longer.

The challenge is again, business owners do not understand the power of developing a

overarching strategy for acquiring high quality referrals. Developing and integrating areferral mechanism, so that they can continuously rely on companies and people

becoming high qualities clients in the future.

But if they did, you can only imagine the amount of business which would betransacted for years to come.


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Strategy #7. Educating The Customer

Nearly every component and strategy has an underlying theme: To educate the customerwhy buying from you is the best choice.

Im not just talking about features and functionality. Im also talking about reason whythey should buy, the benefits derived, previous client testimonials and case studies,

evaluations and assessments, sources of more information, etc.

Many business owners and entrepreneurs think that educating the client should only be

done if there are objections to a sale. They dont want the prospect to know too much

else they lose the sale.

I have a different take: I say tell them as much as you can afford to. I would createbooks, white papers, special reports, information nights, seminars and all sorts of other

avenues for the prospect to become educated.

Strategy #8. Position Yourself as The Expert

People want to work with people who know what they are doing. They appreciate

competence and professionalism.

To take advantage concept strategically, you must become an authority/expert in your

industry. You must unhedgingly offer your viewpoints and perspectives and informationto people in a public forum. You can do that using several methods:

1) Have a book published2) Write a column in an industry journal or local magazine3) Give speeches at associations and industry events4) Get interviewed5) Develop a newsletter or e-zine or website offering your information and

perspective

Admittedly, this may take some time to build momentum. This is definitely a long termstrategy. But the rewards and profits can be profound.

Strategy #9. Core Story

My colleague Chet Holmes has a great strategy which he calls Core Story.


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Lastly, regardless of which strategy you implement, I urge you adopt a more strategic

mindset. I believe it may be one of your remaining competitive advantages in todayscompetitive business.

marketing) top ten strategy picks by jay abraham

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