Know Your Market...
Referral Marketing appears to be a huge mystery for some people. It’s probably one of most often asked questions I’ve heard during my years with YTB. More specifically, on-line marketing appears to be a major interest for most. (We ARE an “On-Line Travel Agency”)
I wrote a post some two years ago about 5 ways to market effectively on-line, and for anyone new to the industry, this is a fantastic foundation to start marketing your business. These marketing techniques are not only effective but if done properly, in time you will have extensive exposure to all kinds of customers, ready to purchase products from you that relate to them. In fact, these techniques are so good; I still use them to this day and I actually reuse this very same article in my Newsletter for new team members in my 7 day training program.
One of the key components of effective Marketing is “know your customer”. If you know why people visit a particular site and what the major motivation is, and match products that relate to them, you will be amazed at how easy and profitable referral marketing really is. Mike Dillar in his Magnetic Sponsoring program gives fantastic insight in one of his his free 7 Day Boot Camp videos.
When someone goes to buy a drill, they don’t care about the drill; they care about making a hole.
To many people focus on the features and advantages of the program, company, whatever, but what they should be looking for is the end benefit to the customer.
Since most of my readership here is already in YTB, let me give you one of the best marketing tips I’ve ever come across that’s easy to do when it comes to selling travel. I’ve had albums of my vacations on a site called WebShots for years. If you take a look at any of the pictures, in any of the albums, you’ll see my BandBVacations.com logo on the bottom left hand corner of each and every picture.
At the present time, these 400 photos have had over 161,000 views and I get anywhere between 1000 to 1500 views per week.
Now think about this. Who is viewing these photos? What is their major motivation for visiting this site? Based on why I was there before I got involved with YTB, I wanted to find pictures of ship layouts, layouts of buildings, how white and fluffy the sand was, and because pictures say a thousand words, how someone else enjoyed their vacation on this ship or at this resort.
Because my logo is at the bottom of every one of those pictures, some will see that logo, wonder what that site is, physically type it in and low and behold what to they find?
My booking engine.
I can’t tell you how many times I find flights, hotels, vacation packages, and cruises booked on my booking engine from people I don’t even know. It just shows up!
Another cool little trick I learned was writing articles about our experience during our vacation. I did an article three years ago about one of our first FAM trips down to Sandestin Resort and Independent Traveler posted it on their site.
These are just two examples to simply “refer” people to your travel web site. There are a ton of resources for both articles and pictures that you can find on the internet.
Here’s the best part of all this guys. I took those pictures and wrote that trip report three years ago. Do you know that I’m still being paid via Referral Marketing for posting these pictures and writing this trip report?
Harv Ecker talks about the difference between rich people and the poor and middle class. The middle class and poor believe that they have to work hard for their money. You have to actually have to “do something” every time you produce income. Rich people focus on something called “passive income”. Streams of income that pay you over and over even when you aren’t producing anything for that income at the time. (If you’d like to find out more about Harv’s differences between rich and poor, he has a free teleseminar next week on May 22nd that will explain more.)
Here is one of the most critical factors that I believe is very important. Notice, I’m not sending people to my marketing site with these pictures. Notice I’m not trying to recruit anyone into my YTB business as a team member. Reason being is that the people who are looking at these articles and pictures are not looking for a business; they’re looking for a vacation. (Go back to why you buy a drill, to make a hole.) You have to keep in mind who the primary customer is and if you can match a product with the primary need or benefit, you’re likely to get sales.
The key is to understand your market. Take the market here on this blog. It’s changed over the years, and currently, most of my readership here is already in YTB so why bother trying to recruit you into a business you’re already in? But I can capitalize on helping you build your business and become more knowledgeable and successful right?
Here are just a few examples of how referral marketing has worked for you using the exact same principles we’ve learned from Coach, Scott and Kim in YTB.
Last year I did a write up on saving money on taxes via a home based business. Now I wrote that article last year, but this February and March got paid for that article over and over again. Something you in YTB wanted to learn about.
Something else that I found you wanted to learn about was Marc Mancini and the E-Campus. Do you know that I sell entire sets of his books each and every month?
You also gobbled up Brian Tracy’s Success Principles like crazy when I was entertaining the questions our TTA’s had about YTB.
No poking, no prodding, no “Join Me Know”, but very simple referral links and if you found it relevant and of value, you bought the products I recommended.
Speaking of the TTA’s, how many 6 in 1 travel blankets do you think they sell on their blog? How ‘bout Star Trek figures, or Urban Fashion accessories? If I were that blogger, I’d be selling FitzPatrick’s “Pyramid Nation”, to make up for all the time I spend writing on that waste of cyberspace. Problem is, FitzPatrick doesn’t understand referral marketing either and would never promote his books to gain better exposure in that way.
Stuck in a “Catch 22” sorry to say.
Guys, travel is just one example of how the Internet has changed things. E-commerce is a HUGE business and industry and if you learn to play the game right using “referral marketing” the right way, you’ll find yourself working less and enjoying more of this game we called life.
It’s not wrong, it’s not lazy, it’s a simple fact of the way we do business these days. Gone are the days of the Petroleum Distribution Engineers that we had when we were kids…we pump our own gas these days in the world of self service.
It’s quick, it’s easy, it’s convenient, and it can make you extra income doing the same thing you’ve already been taught to do in YTB.
If you’d like to keep up to date with all the latest news, acquisitions, and developments with YTB feel free to sign up for my FREE Newsletter. Just like here, it’s loaded with links and documentation for you to share with clients and prospects alike.
Doug & Ronda Bauknight
AKA: TravelPro
Travel Agent / Networker
Phone: 678.458.5812
Learn How To Become A Travel Agent
Book Your Travel & Vacations With
Travel Reservations: 1.800.243.4450
RTA #24635
I wrote a post some two years ago about 5 ways to market effectively on-line, and for anyone new to the industry, this is a fantastic foundation to start marketing your business. These marketing techniques are not only effective but if done properly, in time you will have extensive exposure to all kinds of customers, ready to purchase products from you that relate to them. In fact, these techniques are so good; I still use them to this day and I actually reuse this very same article in my Newsletter for new team members in my 7 day training program.One of the key components of effective Marketing is “know your customer”. If you know why people visit a particular site and what the major motivation is, and match products that relate to them, you will be amazed at how easy and profitable referral marketing really is. Mike Dillar in his Magnetic Sponsoring program gives fantastic insight in one of his his free 7 Day Boot Camp videos.
When someone goes to buy a drill, they don’t care about the drill; they care about making a hole.
To many people focus on the features and advantages of the program, company, whatever, but what they should be looking for is the end benefit to the customer.
Since most of my readership here is already in YTB, let me give you one of the best marketing tips I’ve ever come across that’s easy to do when it comes to selling travel. I’ve had albums of my vacations on a site called WebShots for years. If you take a look at any of the pictures, in any of the albums, you’ll see my BandBVacations.com logo on the bottom left hand corner of each and every picture.
At the present time, these 400 photos have had over 161,000 views and I get anywhere between 1000 to 1500 views per week.
Now think about this. Who is viewing these photos? What is their major motivation for visiting this site? Based on why I was there before I got involved with YTB, I wanted to find pictures of ship layouts, layouts of buildings, how white and fluffy the sand was, and because pictures say a thousand words, how someone else enjoyed their vacation on this ship or at this resort.
Because my logo is at the bottom of every one of those pictures, some will see that logo, wonder what that site is, physically type it in and low and behold what to they find?
My booking engine.
I can’t tell you how many times I find flights, hotels, vacation packages, and cruises booked on my booking engine from people I don’t even know. It just shows up!
Another cool little trick I learned was writing articles about our experience during our vacation. I did an article three years ago about one of our first FAM trips down to Sandestin Resort and Independent Traveler posted it on their site.
These are just two examples to simply “refer” people to your travel web site. There are a ton of resources for both articles and pictures that you can find on the internet.
Here’s the best part of all this guys. I took those pictures and wrote that trip report three years ago. Do you know that I’m still being paid via Referral Marketing for posting these pictures and writing this trip report?
Harv Ecker talks about the difference between rich people and the poor and middle class. The middle class and poor believe that they have to work hard for their money. You have to actually have to “do something” every time you produce income. Rich people focus on something called “passive income”. Streams of income that pay you over and over even when you aren’t producing anything for that income at the time. (If you’d like to find out more about Harv’s differences between rich and poor, he has a free teleseminar next week on May 22nd that will explain more.)
Here is one of the most critical factors that I believe is very important. Notice, I’m not sending people to my marketing site with these pictures. Notice I’m not trying to recruit anyone into my YTB business as a team member. Reason being is that the people who are looking at these articles and pictures are not looking for a business; they’re looking for a vacation. (Go back to why you buy a drill, to make a hole.) You have to keep in mind who the primary customer is and if you can match a product with the primary need or benefit, you’re likely to get sales.
The key is to understand your market. Take the market here on this blog. It’s changed over the years, and currently, most of my readership here is already in YTB so why bother trying to recruit you into a business you’re already in? But I can capitalize on helping you build your business and become more knowledgeable and successful right?
Here are just a few examples of how referral marketing has worked for you using the exact same principles we’ve learned from Coach, Scott and Kim in YTB.
Last year I did a write up on saving money on taxes via a home based business. Now I wrote that article last year, but this February and March got paid for that article over and over again. Something you in YTB wanted to learn about.
Something else that I found you wanted to learn about was Marc Mancini and the E-Campus. Do you know that I sell entire sets of his books each and every month?
You also gobbled up Brian Tracy’s Success Principles like crazy when I was entertaining the questions our TTA’s had about YTB.
No poking, no prodding, no “Join Me Know”, but very simple referral links and if you found it relevant and of value, you bought the products I recommended.
Speaking of the TTA’s, how many 6 in 1 travel blankets do you think they sell on their blog? How ‘bout Star Trek figures, or Urban Fashion accessories? If I were that blogger, I’d be selling FitzPatrick’s “Pyramid Nation”, to make up for all the time I spend writing on that waste of cyberspace. Problem is, FitzPatrick doesn’t understand referral marketing either and would never promote his books to gain better exposure in that way.
Stuck in a “Catch 22” sorry to say.
Guys, travel is just one example of how the Internet has changed things. E-commerce is a HUGE business and industry and if you learn to play the game right using “referral marketing” the right way, you’ll find yourself working less and enjoying more of this game we called life.
It’s not wrong, it’s not lazy, it’s a simple fact of the way we do business these days. Gone are the days of the Petroleum Distribution Engineers that we had when we were kids…we pump our own gas these days in the world of self service.
It’s quick, it’s easy, it’s convenient, and it can make you extra income doing the same thing you’ve already been taught to do in YTB.
If you’d like to keep up to date with all the latest news, acquisitions, and developments with YTB feel free to sign up for my FREE Newsletter. Just like here, it’s loaded with links and documentation for you to share with clients and prospects alike.
Doug & Ronda Bauknight
AKA: TravelPro
Travel Agent / Networker
Phone: 678.458.5812
Learn How To Become A Travel Agent
Book Your Travel & Vacations With
Travel Reservations: 1.800.243.4450
RTA #24635
Labels: Affiliate Programs, Harv Eker, Magnetic Sponsoring, Referral Marketing, YTB E-Campus, YTB Travel Network
Great article Doug! I was one of the ones who bought Marc's books from you. (You're welcome!)
Speaking of TTA's, did you see John's spin on the Q1 report? I think you'll find his "math" on the retention of RTA's intersting.
Posted by
Anonymous |
Friday, May 16, 2008
Oh my God! What happened to spending an entire WEEK looking over things? Didn't take nearly as long this time did it?
I don't have the time to read his take on things right now. I'm sure it's entertaining. I read the Q1 late last night and it's pretty much on par with what we did last year at this time. A lot of one time expenses, flat travel commissions in Jan., Feb, and March, and the retention was actually better than what I had thought.
I pretty much resigned myself weeks ago that we'd have to put up with a little flack after they were released. I hoped not, but looks like history repeated itself Q1 of 2007.
The good news is, we have 3 more quarters to shove it right back at them. ;-P
I always like to wait to see what the rest of class thinks about all this, so I'll check it out when I have more time later this afternoon or tonight.
PS - Thanks for the cuddos!
Posted by
TravelPro |
Friday, May 16, 2008
It's Kudos.
Posted by
Anonymous |
Friday, May 16, 2008
Look at the numbers, YTB is loosing more and more people every month. The number of drop outs grows each and every year. Face it; more and more people see the truth about YTB.
Posted by
Anonymous |
Friday, May 16, 2008
Why not opine right now? Why wait for the rest of the class? Or are you not capable of speaking without someone's hand up your backside moving your mouth?
Just wondrin'
Cuddos to you
Posted by
Anonymous |
Friday, May 16, 2008
First Anon:
Was that you that caught that we dropped the required fee for training? Nice job!
I would agree that John is using the same numbers I’ve been using but with his own spin. He’s banking on the “limited thinking” of some of his readers who won’t look past what he’s telling them. The 7000 or so number of drop outs a month IS growing and will continue to do so.
Business minded individuals and the builders of teams in our company are very pleased with the retention rates and honestly this “snapshot” is extremely impressive. (Please note: I said “snapshot” because it’s far too early, and with just one Quarter of information you can’t call it a “trend” and I want everyone to be aware of the difference.)
Second Anon:
Let’s say you have a 10% failure rate making “widgets”.
If you make 100 “widgets” 10 will be duds when they come out.
If you increase production to 1000 “widgets” you’ll have 100 duds with the same 10% failure rate.
While the number increased the percentage stayed the same.
What you don’t realize (and are banking on others to miss as well) is this: you're claiming that the number of failures increased from 10 to 50 with the increase in RTA’s but what you don’t get is that the percentage of failures was actually cut in half. From 10% to 5%. In any business that’s HUGE.
While you are focused on the number of “widgets” that fail, you've missed that the percentage of failures actually dropped dramatically in the Q1 report.
Over the last several years, YTB had a retention rate of 70%-74%. When RCCL and IATA hit, it dropped down to 66%.
Now that we in YTB all realize this fuss you were making was bogus, the retention rate for the Q1 is the highest it’s ever been @ 86%!!
Yes, there are fewer people coming into the fold, but the quality certainly looks very good based on that percentage.
Quailty, not quantity. Interesting don't you think?
Guess what happens with better quality?
Never mind, let's stick with the basics for now....
And for the last Anon:
While I wish I had the time to post all day like the rest of the class, I set aside time each day to actually work my business. I try to refrain from reading useless gibberish, (as funny as some of it is) to a minimum. Because I focus my time and efforts on productive activities, I can actually comprehend and read our financials far more accurately then any of the class over on John’s blog.
As you can clearly see by my example above, none of the class has figured out what’s really going on have they? Looks to me like John’s the one moving the mouths and you puppets just play along not even realizing how he’s playing all of you as suckers.
Posted by
TravelPro |
Friday, May 16, 2008
Would you be so kind as to tell everyone how much your travel only commissions from YTB were last year?
Posted by
Anonymous |
Monday, May 19, 2008
It’s funny anonymous.
I was never asked how much I made in any other industry I was in other than MLM. I actually had to sign non disclosure agreements with some companies that I could not discuss my salary. I know of many Business Owners who wouldn’t tell you how much they make.
Somehow, MLM appears to be different for some in that regard, but I still find it extremely rude when someone asks, (although you asked in a nice way) and highly unprofessional of anyone who boasts about how much they make.
This business is “commission sales” which means you are paid what you produce. What I or anyone else makes in Travel, Recruiting, or from Affiliate Sales is no guarantee that anyone else will make the same amount.
How much I've made has always been a private matter and I don't see why that needs to change simply because I've changed industries.
If anyone has a problem with that, it speaks more about thier own beliefs rather than my own.
Posted by
TravelPro |
Monday, May 19, 2008
You stated YTB currently has 86% retention rate. You need to retract that statement. YTB currently has 25% retention rate.
You statment is wrong by a whopping 61% difference.
How many RTAs quit between Jan 1, 2008 – Mar 31, 2008?
Answer: 23,144
Solution:
131,065 = (RTAs as of December 31, 2007)
138,814 = (RTAs as of March 31, 2008)
30,893 = (site sales for Jan 1, 2008 – March 31, 2008)
161,958 = (Q1 2008 site sales added to total RTAs as of December31, 2007)
23,144 = (Number of RTAs who quit Q1 2008)
161,958 – 138,814 = 23,144
7,749 = (Gross Number of RTA growth for Q1 2008)
138,814 - 131,065 = 7,749
2,583 = (2008 Gross Monthly Average # of RTAs enrolled)
What is the 2008 Q1 Retention Rate?
Answer: 25% Retention Rate
Formula for 2008 Q1 Retention Rate:
Number of RTAs who quit in Q1 2008 divided by number of Q1 2008 site sales.
23,144 / 30,893 = 25%
Wake up! Out of 30,893 site sales, 23,144 quit. That's 25% retention rate.
Posted by
Anonymous |
Monday, May 19, 2008
Rodney;
Based on your reasoning and math, are we to assume that every one of the 131,065 that were with the company on December 31st were still with the company on March 31st for a 100% retention rate of all active RTA’s at the end of 2007?
I know of one person who was with the company for years who dropped out last quarter. Do you know who that might be?
Since we don’t know how many MORE of the 23,144 were also existing RTA’s like you who dropped out, we must take 138,814 / 161,958 = 0.857 (or 86%)
I’ve told you before to get off the internet and to stop listening to the TTA’s who are doing nothing but filling your mind with misinformation and lies.
When are going to start listening to people who actually know what they are talking about?
Posted by
TravelPro |
Monday, May 19, 2008