Money is power in business. It is the fuel that moves the economy. It is the process that generates wealth. But, what does it mean to be powerful? It is not just about purchase or power.
The definition of power has evolved. From a position of strength, it has become an an ability to influence and change. For example, a rich person can’t buy their way into power.
Joining us in this episode is Matthew Ehret, a journalist, artist, and founder of the Canadian Patriot Review. He talks about the truth about power and money. What is power? What is money? How do they work together? Matthew also explores how these two concepts intertwine and what that means for you.
They are two of the most important things in our society. They are the driving forces behind everything. They are the things that make people do anything to get them.
Now let’s dive in and take a closer look at the truth about power and money. How do they work together for a successful business?
Here are three reasons why you should listen to this episode:
- Learn what is the relationship between power and money
- Discover how power and money contribute to a successful economics
- Gain tips and strategies to help you improve your money management and power distribution at work
- Know more about Todd Brown
- Check out the E5 Method Book
- Connect with Todd in Facebook, Instagram, and Youtube
[02:45] How Todd Started in Business and Marketing
- Todd began his career in the personal training department of a local health-care company. He was in charge of generating company revenue. He directed employees to do the same year after year.
- He had no idea about advertising or marketing at the time. But then he got a mail package with a home course study kit for fitness experts. That made him realize he could turn a sales presentation into a marketing campaign. So, he leveraged that campaign to generate massive profits.
- He studied the kit and applied what he discovered in his department. He discovered that some of the principles he learned worked well. Others required customization and change to achieve optimal results.
- Over time, the department he was in charge of became the company’s bright spot. That is when he committed himself to direct response marketing and earned the credit for it.
[06:20] Advertising and Marketing Misconceptions
- Todd confused advertising and marketing, believing that they were just slogans in the world.
- He associated advertising and marketing with Coca-Cola and Home Depot. He never imagined that anyone could turn a sales message into a marketing campaign and use it to generate sales.
[07:03] What is E5 Method and How Does It Work
- Todd developed the E5 Method over a 24-month period to engineer profitable acquisition campaigns. Five stages divide it and each begins with the letter ‘E.’
- Examine is the first stage of the E5 Method. This is where businesses can find the most valuable, insightful data to create a profitable campaign. It starts with an examination of the target audience. Then, it moves on to an examination of the product. It ends with an examination of the competition.
- Engineer is the second stage in the E5 Method. Businesses use the information gathered to outline the steps, message, and offer of their campaign.
- Evaluate is the third stage of the E5 Method. This is the stage at which businesses evaluate their customer acquisition campaigns. A campaign should have four funnel pages. A lead capture page. A marketing page. An order form page. A thank you page.
- Enhance is the fourth stage of the E5 Method. This is where businesses focus their efforts to improve their campaigns. They accomplish this by including more upsells in their email sequence and re-testing their funnels. When done right, it can provide businesses with a massive ROI. No lies!
- Expand is the fifth and final stage of the E5 Method. As obvious as it may sound, this is where businesses broaden their reach to reach a larger target audience. This is where they attract customers beyond their immediate vicinity. It entails increasing the budget details to an extent to maintain their campaigns.
[15:25] Superior, Irresistible, and No-brainer Offer
- People want a solution that stands out from the crowd and delivers results. Businesses should focus on making a SIN offer. A superior, irresistible, and no-brainer offer!
- An offer should be superior to another competitor’s offer. The key to success in business is to have a competitive edge. This means that you should try to be better than your competitors. You do this by offering a product or service that is different from what your competitors are offering.
- An offer should be irresistible. Irresistibility makes an offer so compelling a customer can’t refuse it. Irresistibility is not just about making offers that customers can’t refuse. It’s about making the entire experience of interacting with your company impossible to refuse.
- An offer should be a no-brainer. No-brainer products are easy to use and solve problems. The goal of these products is to make it easy for people to buy, use, and recommend them. Businesses should try to achieve no-brainer product or service. This will help them increase their customer base and revenue.
[37:25] Successful Manager Versus Typical Manager
- According to Todd, a typical entrepreneur is transaction-minded. They want a margin on every single sale. They apply that same approach to different real-life cases.
- Typical entrepreneurs do not have a clear vision of where they want to go. They don’t know what their strengths are and focus on using them in the wrong way.
- Successful entrepreneurs have a clear vision of what they want to achieve and how to get there. They know what their weaknesses are. They are able to hire the right people for their business. They know how to use their strengths in the best way possible.
[43:30] What Holds A Company Back
- Today, businesses are struggling to produce an effective marketing message that converts and pays for traffic. Banking consumers are highly skeptical and jaded. Why? They have been exposed to overhyped promises, which were never delivered. What drives people to buy today is not the same as what drove people to buy in the past.
- Businesses generate and download copies the old-fashioned way. They make extensive use of hyperboles, adjectives, and adverbs. There is little to no evidence to support their claims.
- They do not distinguish their solutions from the rest. It is an art to distinguish good solutions from bad solutions.
Two Powerful Quotes
“In order to get attention, you should sell what’s different about your solution or how your products or services work to give buyers the results they want. People don’t want the same. They want to know what’s different. It gives them hope”
“What drives people to buy today is not the same as what drove people to buy two decades ago.”
Matthew Ehret, a journalist, artist, and founder of the Canadian Patriot Review, is the E5 Method proponent. He has been helping companies acquire customers for years. In his latest projects, he provides business owners with insights on how to drive profitable customer acquisition. He does this via a series of case studies and actionable advice. The projects are divided into sections that include effective and profitable acquisition campaigns.
Follow Matthew on LinkedIn.
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