Book Byte #279 "80/20 Sales and Marketing" by Perry Marshall

The Definitive Guide to Working Less and Making More

📣 Curious Quotes from the Author

“1. No cold calling. Ever. You should attempt to sell only to warm leads.

2. Before you try to sell anything, you must know how much you’re willing to pay to get a new customer.

3. A prospect who “finds” you first is more likely to buy from you than if you find him. 4. You will dramatically enhance your credibility as a salesperson by authoring, speaking, and publishing quality information.

5. Generate leads with information about solving problems, not information about the product itself.

6. You can attain the best negotiating position with customers only when your marketing generates “deal flow” that exceeds your capacity.

7. The most valuable asset you can own is a well-maintained customer database, because people who’ve already bought from you are way easier to sell to than strangers.”"

“80 percent of the 80 percent of traffic is on 20 percent of the 20 percent of roads.”

“80/20 says 80 percent of your results come from 20 percent of your efforts, and 20 percent of your results come from the other 80 percent.”

“Selling to the right person is more important than all the sales methods, copywriting techniques, and negotiation tactics in the world. Because the wrong person doesn’t have the money. Or the wrong person doesn’t care. The wrong person won’t be persuaded by anything.”

“80/20 applies to almost everything in business that you can count. ▷ Almost every frustration you have in sales has something to do with ignoring 80/20.”

“Why Do People Spend Insane Amounts of Money? Here’s a little marketing secret for you: Almost everybody has at least one passion, one interest, one obsession where they’ll gleefully spend irrational amounts of money. For some it’s makeup or shoes. For some it’s rock concerts. For some it’s bowling. For some it’s bird watching. For some it’s skiing.”

“The Five Power Disqualifiers® are: 1. Do they have the money? 2. Do they have a bleeding neck—an urgent problem that must be solved now? 3. Do they buy into your unique selling proposition? 4. Do they have the ability to say YES? 5. Does what you sell fit in with their overall plans?”

“No web tracking system I’ve ever seen gives perfectly accurate numbers. But dollars in the bank—that’s a pretty reliable measure.”

“In the school of hard knocks, where passion and performance are far more important than answering questions correctly, the best student is probably 50 percent better at science than the second best. Not 2 percent better. This is incredibly important.”

📚 Cognition of the Book’s Big Idea

Success in business is based on a few key fundamentals. The 80/20 rule, which can be used recursively for exponential benefits, states that a tiny portion of your efforts will result in the majority of your rewards. The idea of a "true audience," targeted advertising, and customer interactions are all included in this concept. In addition, you may find qualified sales prospects more quickly by using the 5 Power Disqualifiers: Money, Urgency, Buy-In, Authority, and Fit.

With the use of the 80/20 rule, these components come together to form your USP, or unique selling proposition, which should be a dynamic Power Guarantee catered to the demands of the client. Finally, you may identify your most valued clients for focused marketing campaigns by using disciplined data tracking, which includes the RFM methodology. By comprehending and putting these ideas into practice, you're laying the groundwork for long-term company success in addition to optimizing for short-term profits.

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With Regards,
Jason (Founder Club255)