How To Use High-Value Consulting To Increase Profitability — With John Logar
Mr. John Logar is the founder of consultingunleashed.com. He’s sales professional, a marketing consultant, a trainer, an international speaker and a coach for the last 25 years. He’s helped clients generate millions of dollars in business all over the worlds, has conducted over 5,000 one-to-one strategic sessions with managing directors, CEOs, entrepreneurs in over 140 different industry groups. In the last 18 months, he’s helped launch 27 consulting businesses that have generated over 4.2 million dollars in consulting contracts the world. He cuts through all the fluff and gives you real actionable strategies that work.
Books Mentioned
Related / Mentioned Podcast Episodes:
- Episode 001 – Neil Patel on Branding, Client Selection and Investing
- Episode 002 – James Schramko on Recurring Income Models
- Episode 011 – Dan Norris on Startups
- Episode 012 – Dan Norris on Content Marketing for Startups
- Episode 022 – $50 Million and Counting
- Episode 043 — The Membership Economy with Robbie Kellman Baxter
Key Points (Timestamps)
- 1:45 — Intro and background on John Logar
- 2:54 — How John helps increase profitability through strong acquisition and retention strategies
- 2:58 — One of the biggest mistakes businesses make is to treat their business like a promotion.
- 3:44 — Start by knowing who your customers are and then make an offer.
- 4:18 — Understand how much you’re willing to pay to acquire the customer.
- 4:43 — “If you want cash, make an offer.”
- 6:15 — A lot of businesses don’t invest enough in their marketing.
- 6:35 — What you can do if you understand customers’ buying motivations and habits
- 6:55 — How John uses these 2 published lists to identify target clients
- 8:25 — Why companies need to value the leads they generate and farm the leads properly
- 10:02 — Google’s study in 2009 on the zero moment of truth (google’s study relating to purchases)
- 10:41 — In 2016, the average customer uses 18 frames of reference before making a decision. You need more engagement with your target audience. More touch points required to make a sale.
- 11:21 — If you have 7-8 touch points with the same customer, you’re 80% more likely to make sales.
- 11:44 — Intra podcast summary of key points so far
- 12:41 — Businesses should be asking themselves: ‘What else could I be offering the customer at this point in their life/phase in their purchase cycle?
- 13:21 — “From a business point of view, we are in revolutionary times.” – John Logar
- 13:57 — A case study on an e-commerce business (importance of customer engagement)
- 19:29 — John’s personal example around the importance of not underpricing your offer
- 20:47 — Being the cheapest isn’t always the best strategy.
- 21:08 — Price can also be a signaling factor. A higher price signals higher value.
- 22:08 — Price anchoring and how it impacts price in the customer’s mind
- 24:23 — Businesses that do really well plan for it.
- 24:38 — The purpose of your business vs the goal of your business and why that distinction matters
- 25:51 — Get clear on your purpose and then get clear on how you can create a profitable path to achieve that purpose.
- 28:09 — The question businesses should be asking themselves is: Why should people buy from me rather than from a competitor?
- 28:33 — Apple case study on premium positioning and value-based pricing without significant discounting
- 29:33 — How Apple executes on a clear purpose to deliver spectacular customer experience
- 31:57 – Apple has ‘taught’ their customers well which is why they will be more profitable.
- 34:25 – “Most people give up too early.”
- 34:42 — If you want to do bigger deals then understand those people and create multiple touch points.
- 35:32 — Recap on key insights and key obstacles businesses face
- 36:02 — Action points for business owners to take:
- Get clear on your purpose, then create a plan around that purpose.
- Focus on value, not price. Big clients are visible and, therefore, easier to find.
- 37:06 — The key obstacles to obtaining more customers and how to overcome those obstacles
- 36:45 — The best thing you can do is invest in your marketing, advertising and measure everything.
- 38:01 — The basic principles (like referrals) have been the same for 6,000 years.
- 38:30 — Globally, e-commerce only accounts for 12% of purchases online.
- 39:06 — Get clear, get a plan in place and go and make an offer.
- 39:16 — John Carlton said, ‘You’re only one email away from your next big paycheque.’.
- 39:45 — John’s favourite sequence of emails within a campaign with multiple follow-up offers
- 41:56— Key insight – Rather than trying to go wide, go deep.
- 42:33 — If you want to maximise your conversions, pick up the phone and talk to a real person.
- 43:25 — How you can get in contact with John and find out more about him
