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Trader Joe's And The Titanic Two Of Profit-Taking PDF Print E-mail

By Kristina Mills 

Everyone I talk to in business has a profit generating secret for this and a profit generating secret for that. Some have 7 secrets. Others have 10 vital secrets. Others still have 20 or more. 

I often get asked the question, “I don’t have time to put in place dozens of initiatives. What are the one or two things I can do to significantly increase my business profits without spending a lot?”

In all my 17 years consulting to small businesses I’ve found that there are (obviously) a number of things businesses can do to achieve profit improvements but two of them stand out as offering a massive impact for a minimal outlay.

Let’s take a look at what they are.

The first initiative is to communicate a selling message that is clear, persuasive and compelling … one with a strong offer.

And the second initiative is to create a “WOW” experience before, during and after each sale. If your customer places their trust in you and buy from you don’t let them down. In fact, you want them to be so delighted with their purchase that they’ll buy from you again-and-again without hesitation. If you promise something deliver it and then some. And when you do that, referrals will go through the roof.

Let’s look at each secret in detail …

 

Secret #1. Be persuasive and compelling with Super-Glue Sentences

Imagine what would happen if it was possible for your reader’s eyeball to be glued to your copy so they can’t stop reading even if they wanted to.

One of the key ways to do that is to pay close attention to the structure of each sentence.

Only express one idea in each sentence. Keep it short and to the point. Don’t drift off into other areas and expect your reader to follow.

Example #1: I went to the shop to buy milk and on the way I spoke to Mary about her daughter who is expecting a baby in three-and-a-half months time and she is suffering from terrible morning sickness even though she is already five and a half months gone, and what’s worse is that her husband won’t even take out the trash even on days where she is bed-ridden  .  

Example #2: I went to the shop to buy some milk. On the way I spoke to Mary. Mary told me that her pregnant daughter is having terrible morning sickness. What’s worse is her husband won’t even help her out by taking out the trash.

I know that’s a silly example but I’m sure you can see what I mean.

Charles Bukowski was one of America’s best known contemporary authors wrote in excess of forty best selling novels. The secret to his success apart from the subject matter was that his books were so compelling to read.

Here’s an example from one of more popular books “Post Office” –

“The next thing I knew, I had this young girl from Texas on my lap. I won’t go into details of how I met her. Anyway, there it was. She was 23. I was 36.

She had long blonde hair and was good solid meat. I didn’t know, at the time she also had plenty of money. She didn’t drink but I did. We laughed a lot at first. And went to the racetrack together. She was a looker, and every time I got back to my seat there would be some jerkoff sliding closer and closer to her”.       

Notice how the sentences are short, punchy and to the point.

Here’s another tip …

If you are going to express an idea in a sentence make it a good one. If you’re communicating a message or idea to a potential customer, ask yourself how relevant it is.

A simple way to tell is to put it through the “so what” test.

It’s easy to do. When you’ve finished writing a letter or email or whatever it is go back and revisit every sentence and ask yourself how relevant that sentence is. If it can’t pass the “so what” test get rid of it.     

Example: Let’s say you’re selling a car. You decide to write a letter to previous customers who own small economical cars telling them about a new model about to be released and the incredible deals available. If you mentioned in your letter that the new model can do 200mph it would kinda be irrelevant don’t you think. Wouldn’t they be more interested in how economical the car was? Obviously the 200mph sentence wouldn’t pass the “so what” test so get rid of it.

 

Secret #2: The OMG Factor

You’ve probably heard the statistics that it’s at least 6 times easier to generate repeat business from an existing customer than it is to attract a new one. That’s why then, it makes sense to spend the time and a little money “loving” your customers once they do come on board.

So - what kind of experience can you deliver that creates an absolute WOW in the hearts and minds of your customer?

It’s not just about answering the phone in three rings or under-promising and over-delivering but how can you leave them gob-smacked from the very moment they first set eyes on your business?

Better still, what can you do at each and every point of contact someone has with your business?

 What “WOW” experience can you deliver when they first see your advertising material?
 When they first enter your store or call your company?
 When they ask for more information?
 When they make their purchase?
 After they make a purchase?
 And … on an ongoing basis.

I call it the OMG Factor (Oh My God). Businesses that have mastered the OMG Factor consistently thrive no matter what industry they’re in, no matter what size they are and no matter what the state of the economy.

Here’s a great example of that.

Have you heard of a company called Trader Joes?

It’s a grocery store chain in the United States. I love this business.

Trader Joe’s has turned a rather boring business concept on its head and made grocery shopping hip, fun and more of an experience than a chore.

For starters, when you walk inside any Trader Joe’s store you’ll be hit with an "OMG" factor because each store has a Hawaiian theme. Yes, there are surfboards, prints and plastic lobsters in the stores. The hand-picked “crew” wear Hawaiian shirts. 

But what I really love is the way they connect with their customers. Here’s a little snippet from the Trader Joes website...

"Staying true to the spirit of "aloha," each of our stores does its best to become part of the neighborhood. That’s why the best way to talk to us is to visit your Trader Joe's for a little one-on-one time with a member of our crew. "Crew" is a name we have for our staff - a little nod to our inner nautical adventurer". 

Doesn’t that give you an OMG moment?

The Trader Joe’s marketing material has the OMG factor as well. For instance, instead of saying "this week’s special is vanilla ice cream, buy 2 and save 20%" here’s how they sell ice cream. 

"Here comes the fun… Blissful Ice Cream Bars"

"Remember when you were hard at work trying to fix the banana seat on your bike…and the whole world suddenly stood still? The sweet, sweet music of the ice cream truck could be detected from blocks away, and the effect was always the same. Pure joy.

We developed an ice cream bar that modernizes that old fashioned favourite by using premium ingredients. Our contemporary version uses extra rich, extra dense, creamy vanilla ice cream that’s generously dipped into luscious, rich dark chocolate to create a blissful bar. These bars are really something special. We’re selling Trader Joe’s 4 Blissful Ice Cream Bars for $2.99 per box".   

Here’s a link to the Trader Joe’s website

http://www.traderjoes.com/index.html

Set aside 5 or 10 minutes today and browse their website. You’ll notice that every single page delivers an "OMG" moment. The same goes for their stores. Everything from the food they sell, the crew that work there and the store’s themselves all deliver an OMG moment. 

Can you see the kind of impact "OMG" moments can have on your business regardless of whether you have an online or offline business?

Next week, we’ll show you two sneaky ways to make your sentences stronger, persuasive and ultra compelling. You’ll want to know these techniques because they will help you increase your sales, increase your persuasiveness and ultimately increase your business turnover.

Stay tuned.

 
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