Conversation with Vancouver Entrepreneur
Entrepreneur – How about sending text based emails?
Rob – We don’t do that
Entrepreneur – How about pre timed emails?
Rob – Don’t do that either
Entrepreneur – How about breaking into segments and based on what they click on, send them specific follow up emails?
Rob – That’s cool, but we don’t do that either.
***Not going good so far :). It’s time for some conversation control!
Rob – So how many newsletters did you send out last year?
Entrepreneur – 8 to 10
Rob – How big is your list
Entrepreneur – Around 300 ish
Rob – What’s your open rate
Entrepreneur – 30%
Rob – That’s good, so how many clients did you close last year from your newsletter?
Entrepreneur – <A slight pause > Umm, ahh, 2.
Rob – K, so I closed 60.
Rob – To be specific, I closed 60 out a list of 350 people who read my newsletter.
Rob – Shall we continue this conversation further? 🙂
Entrepeneur – Hahah, ummm no, ok what’s the next step.
Question: How can I get 60 clients and the other guy gets 2 clients?
Simple Answer: His content is professional and boring that you delete the second you see it hit your mail box. My content, you don’t.
If you don’t understand the above, here is the English Version:
Turns out, it all comes down to the life cycle of your product.
For example, as a mortgage broker, I know the average person will deal with their mortgage every 3.5 years or 42 months.
Life Cycle Of Mortgage Product- 42 months
Since I’m sending a monthly newsletter, this person might receive my newsletter 42 times before he has a mortgage need.
The question I have to ask, is when is this guy going to care about anything to do with his mortgage?
Most likely 2 to 3 months before his mortgage need.
In general, he only cares about his mortgage 3 / 42 = 5% of the time.
The other 95% of the time he does not care.
If this is true, then why does everyone in the mortgage industry send rate sheets/business content/mortgage content to their clients?
Wouldn’t it make more sense to send out something that allows them to get to know you, that’s fun and entertaining and has mortgage related content in it.
Maybe something like this: https://hippocontact.com/l/say-wut/#content_last_10_newsletters
The above is why I closed 60 deals out of a 350 list in 2014 and the other guy did 2.
I personalized the heck out of myself to my audience and made it entertaining for them to engage with me over the life cycle of their mortgage.
Another Way To Look At It
When you look at my newsletters, I can say 1 thing. Pictures of me and my wife in my newsletter sell more mortgages than anything I can possibly say about mortgages.
I talked to another mortgage broker who sends out an automatic rate sheet to 1600 people. I asked him how many clients he closed from his rate sheet. He said “1”. “1/month” I asked. “No, 1 a year”.
1 / 1600 is significantly different then 60/350.
How Can You Copy What I Did?
We spent the last 2 years figuring out how a non tech person can do exactly that. We have broken it down to 7 steps. Login into hippocontact.com to get started.
If you want to engage in the Hippo Community, here is a link to the FB group: https://www.facebook.com/groups/hippocontact/