Concentric Circles: Your Key to Even Bigger Profits
So you’re interested to know how concentric circles can help you make even bigger profits?
It’s fine if you’re not sure what concentric is or if this supposed strategy is something you can apply in your business set-up.
But be warned
These strategies coined by Jay Abraham himself will seem simple but out-of-the ordinary from what you would expect in a conventional marketing and business perspective.
Yet to achieve an upper hand or advantage over your field of competitors, ‘stealth’ techniques - techniques that incorporate a cautious, unobtrusive, or secretive way of moving or proceeding intended to avoid detection, will get you further with more results than traditional textbook ideas.
After all, when the marketplace is flooded with everyone applying various yet similar variations of marketing techniques in their modus operandi, standing out and carving a place for yourself is already a highly challenging task, what more when it comes to higher profit percentages.
You’re A Busy CEO/Marketer. Get to the point.
How can circles help you, in a way that’s utterly different from the rest, bring in bigger profits than ever before?
One: Know that this approach can be thought of as the back-end secret to more spectacular wealth than probably any two or three other wealth - or- business-building concepts combined. Yes, it’s simple yet powerful when utilized correctly.
Two: Grasp the idea that concentric circles is a model that involves multiple circles and each circle represents your customers or database. The bigger the circle, the more customers but there are no guarantees that all of them will contribute to your sales and profits, correct?
Hence, another circle is put into place to narrow down your customers base into those with higher purchasing intentions - the true customers you want to reach. This goes on until you’ve exhausted the main customer list and retain the core group that you want, those who are actually interested and will buy (repeatedly) from you.
Success Stories
Confused? Read this real life example where Jay once helped a client generate more than $25millions in sales using concentric circles.
“ I once persuaded a coin company client to offer customers a $23 starter coin set at cost.
Through advertising and direct mail, 60,000 people sent in for it. The client (the coin company) then went back to those 60,000 people and got 6,000 people to buy at least $1,000 worth of coins (that’s $6,000,000 in sales).
Within six months, he went back to those 6,000 people and sold 2,000 of them $3,000 to $5,000 worth of coins (that’s at least 6,000,00 more sales). Then he went to those customers and sold 500 of them an average of $10,000 more (and that’s another $5,000,000-plus).
The original 60,000 people who spent $23 on which the coin dealer made nothing eventually brought more than $25million worth of coins in concentric circles, all highly profitable for the dealer. ”
; That idea has been worth $50,000 a month in commissions and fees a month for Jay, which the client happily and gratefully paid for. Wouldn’t you have done the same if this was you?
In much the same way, Jay believes that everyone should always find the opportunity to convert a one-shot sale into a perpetual sale. Simply put, utilize each customer you have into a long term sale relationship.
Stealth Marketers Always Find A Way
If you sell swimming pools, why not add a yearly maintenance and cleaning contract?
If you’re in the dry cleaning business, why not entice good customers to come back by giving them a monthly flat rate for all their business?
If your niche is on furniture, why not give away a free $95 (or more according to your budget) quarterly decorating consultation for their home whenever a customer buys, thus giving you four more chances in a year to sell them something!
Sometimes, making a difference involve outside the box mindsets and ideas. If you found this interesting or just your cup of tea, check out the other blog articles featuring Jay Abraham’s other stealth techniques.
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