TOCICO CONFERENCE 2008TOCICO CONFERENCE 2008 …...What’s a Mafia Offer? TOCICO 2008 Conference...

TOCICO 2008 Conference

TOCICO CONFERENCE 2008TOCICO CONFERENCE 2008

Achieving Success with aAchieving Success with a Mafia Offer

Presented By:Presented By: Dr Lisa LangDr Lisa Lang

1© 2008 TOCICO. All rights reserved.

Presented By: Presented By: Dr Lisa LangDr Lisa LangDate:Date: November 3, 2008November 3, 2008

AgendaAgendaTOCICO 2008 Conference

• What’s a Mafia Offer?at s a a a O e− Definition & Benefits

• Backgroundg− Where does our experience and data come from?

• The Most Common Problems & Solutions− The 6 most common

• Other Lessons Learned (not problems, just interesting)( p , j g)

• The Results

2© 2008 TOCICO. All rights reserved. www.MafiaOffers.com

What’s a Mafia Offer?What’s a Mafia Offer?TOCICO 2008 Conference

• An offer that “meets a clients significant need to o e t at eets a c e ts s g ca t eed tothe extent that no significant competitor can.” Dr Eli Goldratt

• “A Mafia Offer is an offer so good, that your customers can’t refuse it and your competition can't or won't offer the same.” Dr Lisa Langg


Mafia Offer BenefitsMafia Offer BenefitsTOCICO 2008 Conference

Why bother? What’s the big deal?

• To increase sales – answers the question “Why should I buy from you?”

G id th t t d t ti f ti• Guides the strategy and tactics for your entire company.

• Forces operational improvement in order to deliver the• Forces operational improvement in order to deliver the offer. And gives you a reason to do it!

• Changes the culture. C a ges t e cu tu e

• Can recession-proof your company.

• The combination of operational improvements and the


• The combination of operational improvements and the offer provide huge bottom-line results.

www.MafiaOffers.com

Background Background –– Our ProcessOur ProcessTOCICO 2008 Conference

• Started the Mafia Offer Boot Camp® in 2006Sta ted t e a a O e oot Ca p® 006

• Over 50 companies have been through the Boot Camp (combination of group and private)

• 30% have been service companies

• Templates are NOT used and all types of p ypcompanies can attend

• In 3 days we1. Develop your Mafia Offer

2. Create the collateral for your offer


3. Develop the implementation plan – what you need to do BEFORE you make your offer

www.MafiaOffers.com

Background Background –– Our ProcessOur ProcessTOCICO 2008 Conference

3 th3 th ContinueContinueMOBCMOBC 3 months3 months

CoachingCoachingContinueContinueon ownon own

ConsultingConsultingConsulting Consulting ContractContract

• Our data comes from the 3 months with over 50 companies and the companies that we work with on

h li ti lt b i (C lti C t t)a holistic results basis (Consulting Contract).


6 Most Common Problems6 Most Common Problems… after you have a Mafia Offer… after you have a Mafia Offer

TOCICO 2008 Conference… after you have a Mafia Offer… after you have a Mafia Offer

1. How your offer is presentedo you o e s p ese ted

2. Getting in to make your Mafia Offer presentation

3 The number of prospects3. The number of prospects

4. Risk, Paranoia, “Too good to be true”

5 Yo r target market5. Your target market

6. Quality / Lead-Time / DDP /Customer Service


Problem Problem #1 #1 -- PresentationPresentationTOCICO 2008 Conference

• How you present the offer in a PowerPoint, on-line, o you p ese t t e o e a o e o t, o e,or verbally is falling short.

• Or, you’re just not presenting it.


Solution Solution #1 #1 -- PresentationPresentationTOCICO 2008 Conference

• Mafia Offer presentations follow the buy-in process. a a O e p ese tat o s o o t e buy p ocessAre you following it?

• Record your presentation and determine where your sales people are not following the process.

• Get help to review your presentation and collateral.


ExampleExampleTOCICO 2008 Conference

• My offer’s NOT working!y o e s O o g

• Sent email out to over 700 contacts and NO RESPONSES.

• Contacts are people that have shown some interest in the last couple of years.


ExampleExampleTOCICO 2008 Conference


Problem #2 Problem #2 –– Getting InGetting InTOCICO 2008 Conference

• Is getting access to the right people moreIs getting access to the right people more difficult? What are the blockades?

• How is this impacting your business?How is this impacting your business?• Do you have a plan/process to resolve these

issues? Are they resolvable?issues? Are they resolvable? • What is your process for getting in?

Research – letter – call? Research – Call?Research letter call? Research Call?• Who is the process targeted at?

D l k d i i l i12

© 2008 TOCICO. All rights reserved.

• Do people make decisions alone or in a group?

www.MafiaOffers.com

Solution #2 Solution #2 –– Getting InGetting InTOCICO 2008 Conference

B ’ BCircle of

Boss

Boss’ Boss

Target Prospect Colleague #1Colleague #2

Direct Report

Leverage


Solution #2 Solution #2 –– Getting InGetting InTOCICO 2008 Conference

• Executive Access Boot Campecut e ccess oot Ca p

• More information at www.ExecutiveAccessBootCamp.com

Learn More?


Problem #3 Problem #3 –– Number of Number of ProspectsProspectsTOCICO 2008 Conference

• The prevailing strategy is to wait for the phone to p g gy pring.

• Typical websites do not drive traffic, they are ll b hreally company brochures

• There is no list building

• Cash is tight (or there’s no budget)

• Resources are limited


Solution #3 Solution #3 –– Number of ProspectsNumber of ProspectsTOCICO 2008 Conference

• Start with FREE or low cost approaches:Sta t t o o cost app oac es− Get them calling YOU (limited resources)

− Search Engine Optimization

− You need more than a picture of your building or an on-line brochure

Videos & Pod casts− Videos & Pod casts

− DIY Pay Per Click


Example Example -- www.TrustedMfg.comwww.TrustedMfg.comTOCICO 2008 Conference

• Client started with a typical siteC e t sta ted t a typ ca s te

• Nowhere to be found on the search engines

• No database of prospects• No database of prospects

• Basic strategy was to let clients find them.



Video & Pod castsVideo & Pod casts

• Record a simple video using a webcam or P P i tPowerPoint

• Convert to common video type (.wmv)

• Upload video to all the free social networking sites


Solution #3 Solution #3 -- # Prospects# ProspectsTOCICO 2008 Conference

− Capture your visitors – give them a reason to registerp y g g

− Stay in contact – send emails weekly

Start to build your database of prospects



TMI pays $25/month and has full control over it. $RESULTS? After $110 spent and 2 months, new

business that increased sales by 50%.


Solution #3 Solution #3 –– Number of Number of ProspectsProspectsTOCICO 2008 Conference

• Spend $ when you can to increase the number and• Spend $ when you can, to increase the number and rate of good prospects

− Pay Per Click – professionally managed

− Lead Generation information e.g. www.Mfg.com

− Purchasing Fairs

− Direct Marketing

− Upgrade videos and website


Problem #4 Problem #4 –– Risk, Paranoia, Too GoodRisk, Paranoia, Too GoodTOCICO 2008 Conference

• The offer is being presented correctlye o e s be g p ese ted co ect y

• You have plenty of prospects who are getting exposed to your offer

• They say they like it

• But they do NOTHING!y

• This falls into the category of un-verbalized fear or an un-verbalized obstacle

• And it’s just easier not to switch suppliers


Solution #4 Solution #4 -- Risk, Paranoia, Too Good Risk, Paranoia, Too Good TOCICO 2008 Conference

• Explain how you can make this offerp a o you ca a e t s o e

• Reduce their risk

• Make it easy to try• Make it easy to try


EXAMPLE EXAMPLE –– www.TrustedMfg.comwww.TrustedMfg.comTOCICO 2008 Conference

• Explain how you can make this offer

• Added explanation on the home page and new page dedicated to just that


EXAMPLE EXAMPLE –– www.TrustedMfg.comwww.TrustedMfg.comTOCICO 2008 Conference

• Reduce their risk / Make it easy to try


Problem Problem #5 #5 –– Your MarketYour MarketTOCICO 2008 Conference

• You’re targeting your offer to prospects who don’t need it (or need it as much)

• You’re going after new customers (long cycle)

• You’re going after large customers (long cycle)


Solution Solution #5 #5 –– Your MarketYour MarketTOCICO 2008 Conference

• Select a good target market:Select a good target market:− Where is your offer most needed?

Is there a market that yields higher Throughput− Is there a market that yields higher Throughput or higher T/CU?

− Is there a market(s) that is more quicklyIs there a market(s) that is more quickly accessed or has shorter sales cycles than others?

−Which market has tons of room to grow?


Solution Solution #5 #5 –– Your MarketYour MarketTOCICO 2008 Conference

−Are there current customers who have more−Are there current customers who have more business to award?

−Do you have too much business with one ycustomer or in one industry?

• Your answers to these questions will help you to determine a good target market and strategy with both short term and long term prospectsterm prospects.

• The great thing about a good Mafia Offer is that you DON’T need new products or new


that you DON T need new products or new markets to grow your business.

www.MafiaOffers.com

Problem Problem #6 #6 –– Quality, LeadQuality, Lead--Time, Time, DDP, Customer DDP, Customer ServiceService


,,

Y ff i k d b b i d l• Your offer is weakened by being dangerously worse on other key parameters:

Q lit−Quality

−Lead-time / Due Date Performance

−Customer Service


Solution #6 Solution #6 –– Quality, LeadQuality, Lead--Time, Time, DDP, Customer DDP, Customer ServiceService


• Pay attention, measure

,,

ay atte t o , easu e

• Track load vs. capacity

• You need to ensure that your offer is not weakened• You need to ensure that your offer is not weakened by being dangerously worse on other key parameters

Learn More?


6 Most Common Problems6 Most Common Problems… after you have a Mafia Offer… after you have a Mafia Offer

TOCICO 2008 Conference… after you have a Mafia Offer… after you have a Mafia Offer

1. How your offer is presentedo you o e s p ese ted

2. Getting in to make your Mafia Offer presentation

3 The number of prospects3. The number of prospects

4. Risk, Paranoia, “Too good to be true”

5 Yo r target market5. Your target market

6. Quality / Lead-Time / DDP /Customer Service


Lessons LearnedLessons LearnedTOCICO 2008 Conference

• Our clients tend to water their offer down once they Ou c e ts te d to ate t e o e do o ce t eygo back and start implementing -- particularly if a premium or guarantee is involved.

A i k ith th i i i l FULL ff ll− A quick success with their original FULL offer usually solves that.

− And, or we have then talk to another client who went through the same concerns.

• Not everyone wants to take the offer. The offer gets you in the client loves it then says “I love that youyou in, the client loves it, then says I love that you have this offer, but can I just buy the regular way?”


Some ResultsSome ResultsTOCICO 2008 Conference


About Dr LisaAbout Dr LisaTOCICO 2008 Conference

“Dr Lisa” Lang is the President of the Science of Business, and recently Science of Business, and recently served as the Global Marketing Director for Goldratt Consulting. She is TOCICO certified and the author of 2 books: Maximizing Profitability and Achieving a Viable Vision.Dr Lisa specializes in increasing profits in highly custom shops and applyingin highly custom shops and applying Theory of Constraints, Lean and Six Sigma to sales and marketing, having developed the Mafia Offer Boot Camp. In addition to consulting, she delivers 50 speeches and keynotes a year for a number of associations and organizations including Vistage and

[email protected] ScienceofBusiness com


organizations including Vistage and TEC International.

www.ScienceofBusiness.comwww.MafiaOffers.com

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