Tag Archives: internet marketing

LinkedIn’s Top % Award – What It Really Says About You

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Love it or hate it, this is a clever little bit of marketing that has divided LinkedIn members.

With LinkedIn now with 200 million profiles – notice that I didn’t say users – LinkedIn decided to reward their most active subscribers with a formal badge of honour.

Look at me! Oh wait hang on a second….

Let’s quickly do some sums here though to understand what it actually means. I have seen several subscribers proudly displaying their “I’ve in the top 10% of LinkedIn” so I thought it was worth breaking down what this actually is.

20% of 200 million = 40 million received these “awards”

10% of 200 million = 20 million received these “awards”

5% of 200 million = 10 million received these “awards”

1% of 200 million = 2 million received these “awards”

To give this a little perspective on this:

20 million people live in New York, California, Chicago, Houston, Philadelphia, Phoenix, San Antonio and Dallas……combined.

Or

40 million people is the total population of Argentina

Here Come The “how to be as successful as me on LinkedIn” Services

So why have so many people posted this accomplishment? This has routes in our deeper psychology and self image. We all want to be respected and acknowledged for our contribution and without LinkedIn naming publicly the most viewed profiles they have given their subscribers to do the job for them.

This makes the top percenters feel somewhat exclusive – part of an elite on LinkedIn. It can also have the effect of those who did not receive an award a sense of desire to achieve this badge of honour.

As with all awards it often presents more questions than it answers. For which there is always a market. I expect that there are already some savy social marketers who have started work on their new product “how to be a 5%er on LinkedIn”.

Social proof

And this is why social media will continue to grow. One of our natural mentalities is that of belonging to a pack. In the psychology of influencing social proof is one of the most effective forms of influencing someone – “how many twitter followers do you have?”, “how many LinkedIn connections do you have?” etc. We are hard wired to believe to go with the majority. Social proof isn’t just psychology – it’s biology.

Without getting too scientific our brains evolved over millions of years – developing our use of social proof. It is only in the last few thousand years that the prefrontal cortex developed to provide rational, cognitive thought. And those who say “I’m not swayed by what everyone else does” is engaging this part of their brain.

There are other aspects of influencing psychology that this campaign develops upon very well. But these will have to wait for another time.

Finally consider this:

I was reminded this from a friend high up in the entertainment industry: “Don’t believe your own hype”. Be proud of your accomplishments, your achievements, your contributions and your successes. But be proud of the right ones for the right reasons.

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3 Step Formula For Selling Anything Online

So, let’s imagine that you have developed a trusted relationship with your clients. You have led them through a process of demonstrating trust in your services or products but they don’t know what to do next.

All modern marketers live by the philosophy that you can always improve the effectiveness of your marketing through split testing.

And this is because the market changes so rapidly that we have to keep testing to find what works.

The biggest problem in online selling

Business owners and marketers have struggled with how to “pitch” online with variable results.

Worse case scenario: they have no strategy how to write an offer.

This is dangerous. You usually only have one chance and you can never go back and take the client through the process again. You are losing money at the final hurdle, the last step and it could be easily avoided.

This formula works consistently and across every industry because it is based on psychology. Don’t let the simplicity fool you. It works.

  • Here’s what I got – state what your product or service will do for them
  • Here’s what it will do for you – benefits on a superficial, psychological level and at a deep meta message level
  • Here’s what you need to do next – specific instructions coupled with psychological influencing strategies.

I have mentioned psychology several times during this because the formula without psychology will work. Add psychological influencing principles and your conversion rate increases considerably.

But do not read this idly. Test it against your current page. Only through split testing your web pages can you develop the most converting page for your website.

How Do You Develop A Relationship With Clients On Email?

 

When I ask business leaders, CEOs and Managing Directors where does most of their business come from the reply, 99% of the time, is the same.

From our existing customer base.

Yet very few businesses have a strategy on how to continutally engage, upsell, cross sell or sell more to our existing customers. Instead 80% of budgets and usually more, will be spent on attracting new customers.

So let’s turn that on it’s head.

How do we leverage our customer base so it is generating revenue at an optimal level.

The psychology behind increasing sales from within our existing customer base is that they have already bought from you, or at the very least are on your mailing list. You have a dialogue, and from that you can start to build trust.

You will, of course be segmenting your lists of customers to establish at what stage of the customer cycle they are at and how you want to move them along.

No? Well let’s leave that for another day. In the meantime let’s focus on developing a relationship with a client.

Newsletters are dead

Just because it is news to you doesnt mean that anyone else cares. In the 3 second world we live in today, unless your communication instantly speaks to your client they will ignore – or worse – unsubscribe.

The Trust Bank Balance

Trust in you is very low. First you need to start increasing that trust through thought through, deliberate trust building communication. As you repeat this their level of trust in you will slowly increase. Then when you are at a stage where they trust in your AND see the results then ask them for the money.

If you do it before this you are likely to wind up the same as every other company out there – shouting at the customer to try and get them to part with their hard earned money.

There are several ways to do this which I will share with you in a later blog.