During this podcast you’ll learn the difference between a $100 a month client and a $50,000 a month client (and the funny thing is the work for both is the SAME!)
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Hey, everyone. This is Russell Brunson again with the “Marketing in Your Car” podcast from DotComSecrets.com. Normally I do these podcasts when I’m driving to work in the morning, but I didn't this morning. Right now, I’m just out driving around actually. I had a cool experience happen today that I wanted to share, because I thought it would be a good lesson for everyone.
I had a chance to go to lunch today with a guy here locally in Boise who does local marketing on a really big scale. He’s a really neat guy. It’s funny, because he’s been in Boise for two years, and I've never even bumped into him or met him. It’s always unique and fun when you meet someone who’s in the same business as what we’re doing. I met with him, had lunch with him, and I had a great time.
I had one take-away at the very end of the conversation that really just jumped out to me. He said, “Russell, there’s no money in local marketing, going to businesses that are B2C. That’s what most people are focusing on. If they’re a local consultant, they’re going after chiropractors, dentists, and things like that. I focus, one hundred percent, on B2B companies. With those kinds of clients, what’s interesting is that basically – let’s say you have a client, and they sell a widget. Maybe for that widget they've got, they've got five or six customers total, but those five or six customers make them $5 million a year. I come in, and I start to work with those kinds of clients. I just have to get them one new client, and when I do, that’s worth a million dollars to them, and so for that, I take a percentage, so maybe $100,000 a year.”
He had one client. –“I have all year to focus on just getting them one client. In that kind of business, you don’t have to worry about SEO, PPC, social media, any of that kind of stuff. All you focus on is getting them another client through whatever means necessary,” and I thought, “Man, that’s interesting. Everyone’s going after these smaller businesses, and obviously people are making money with it, but that’s the hustle – going after smaller businesses, where this guy is doing the exact same business. He’s just focusing on a different market, and he’s got a lot less clients and making a lot more money.”
Anyway, just kind of a big “aha” for me, and it made me think about how in my own business, I’m always sharing stuff with small businesses. That’s been my passion – helping small businesses grow. Then I look at someone like Gary Vaynerchuk, who’s a mentor of mine, and a really neat guy. Gary teaches very similar stuff to what I do. I don’t think he teaches it as well, and I don’t think he executes it as well, to be honest. But one thing that Gary does is he focuses on bigger clients. His average client, I think, pays thirty to fifty thousand dollars a month, where my average clients – our high-end clients are like ten grand a month. It’s just interesting. He’s doing the exact same thing I’m doing. He’s probably not working as hard as I am, but he’s going after a bigger market and a bigger client, and I just thought it was really interesting.
For all of you guys out there, including myself, this was a wake-up call for me today. Just look at who you’re targeting. Who are the customers that you’re going after? Just by shifting who you go after – who else? Just think about this right now. Who else would your product or service help? Think about that. What if you targeted them, instead of just the people you’re currently targeting? Like Gary Vaynerchuk, go and land one client. –“Boom.” You’re making fifty grand a month. This guy I had lunch with today, his name’s Diego. Go out like him, and, “Boom.” Get a client, and get $100,000 contract to get one new client.
We’re all doing the same amount of work anyway. We might as well get paid what we deserve, and so target bigger customers, whatever business you are in. A lot of you guys are selling different things, but just think about that. Right now, if you’re not going after the customer you keep focusing on, who would that new customer be? Hopefully that will be some food for thought for all of you guys. I know it was for me today. It gave me a big wake-up call and got me excited to start looking at my business and start re-picking my target market. It’s going to be a lot of fun.
I hope you guys liked this, and I will talk to you guys again probably tomorrow morning. Have a great night.