By now I think we've all heard of the plastic gift card, but just in case you haven't let me briefly explain what they are and how they've been used ...
There are a number of manufacturers online that can produce a plastic gift card for you that looks and feels like something you would buy at any local chain store. Many savvy fitness pros may first have heard about this from guys like Steve Hochman and Bedros Keuilian. Using a high value amount like $100 and having these cards made in the image of your business has proven to be a sound awareness and lead generation tool. The key is to give plenty away through any channel you can. Lead boxes, silent auctions, gift bags at events, in addition to your business cards, with partner businesses as a way to appreciate their customers with a thank you gift and so on. We've even seen our cards become a traded commodity in classifieds and on Facebook -- talk about free awareness and branding!
While attending a mastermind weekend an idea was born on how to take this plastic card marketing tool a whole lot further ... a method that not only practically guaranteed redemption but also allows you to generate revenue from them directly. Have your clients refer their friends and family and pay you to do it!
Let's face it, our services are expensive. No matter how good you are you're going to face the resistance of price at times and even if you don't we can both agree that everyone likes an opportunity to save money and get a deal.
When you sign up a new client I'd suggest the following strategy: Immediately give them a thank you card with your gift card inside and explain how it's used. Next, explain that today they can buy one additional card for a nominal amount and if it's redeemed in the next 30 days in addition to the person they refer they will also receive the full amount of the gift card credited against their account. In addition explain if they meet this in the next 30 days you will add them to your VIP referral list meaning they can continue to buy cards at a nominal rate for anyone they wish to refer and basically get their own training free!
You've now incentivized a whole new sales team for pennies compared to traditional marketing channels. By simply paying even a few dollars for the gift card it's almost guaranteed to be redeemed because we're all pre-programmed to try to avoid wasting money. Additionally, if I can get my own training for free I'm first wondering what the catch is, yet buy buying the card you eliminate this natural defense mechanism because I have now made an active decision to invest in an opportunity to earn my own training for free.
This may not appeal to everyone but it absolutely can predictably and repeatedly generate a few more quality referrals each month and that is the whole name of the game. Eliminate the need for a crystal ball with multiple predictable strategies that make reaching your business goals simply a product of execution.
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Feb. 24 2012
