Use the Assets You Already Have - Explore Momentum

Use the Assets You Already Have

In consulting over the past few weeks, there’s been one consistent lesson showing up over and over again:

USE THE ASSETS YOU ALREADY HAVE.

It is easier and cheaper to work with existing relationships, lists, contacts, email addresses, phone numbers, people in your cell phone, social media contacts, or whoever else you know.

Building new relationships – whether it’s meeting brand new people or running paid advertisement – is always harder.

It’s more time intensive. It has more cost. There’s trial and error, even when you’re good at it.

Think about the moment you walk into a party – you’re far more likely to walk over and greet, laugh, or talk with the people you know best. Most people (not all) won’t just walk up to a group of people they’ve never met and act the same way that they would with friends.

Even worse, in each one of these cases, the clients I was meeting with admitted that they’d invested a TON of time, money, and effort in building up their resources.

One person even admitted that they had spent 10 years growing their business and building a customer list of over 10,000 people…and they had never even sent ONE email.

Let alone the two or three a week you need to send to even get someone’s attention…

Where there is history and pre-existing connection, even if it’s not super strong, there is potential.  There is already common ground.  There are plenty of reasons to reach out – even if it’s just to reconnect.

The other area where I’m seeing this far too often is with social networks.

One of the first questions I ask new clients when coaching or consulting is the last time that they went through their list of friends, connections, or followers and sent a personal message.

This doesn’t even just have to be for business, it goes for friends too.

The most common answer, by the way, is 0.  Most people have never done this…

If this isn’t personal enough for you, let me give you some stats that show you the difference in cost.

The average CPM, which is Cost for 1,000 Impressions on Facebook Ads, has risen 171% from $0.42 to $0.99.  The average cost per click is now up to $0.99 per click – with click through rates hovering at about 1%.

Even worse, the industry is flat or weakening.

Competition has gone up astronomically and more businesses than ever before are throwing their budgets into Facebook and hoping for the best.

Depending on the strength of your campaign – your lead magnets, webinars, offers, sales letters, emails, whatever – this means that your cost of acquiring a client probably went up at LEAST 171% as well.

(All of this comes from a great article that came to me from Digital Marketer courtesy of adstage.io.)

The cost for you to send a Facebook Message to someone on your existing profile, page, or group is almost nothing.

The cost for you to send an email to someone already on your list is less than a fraction of a cent.

The majority of people following me don’t even have lists large enough to merit paying for email service and instead use something like Mailchimp to send emails – which is free.

One other important note:

When managed well, how many people do you think you need to have on your email list to make $100,000?  Or even $1,000,000 if that’s your goal?

Take a moment and think about the question…

10,000?

100,000?

Millions?

Actually – it’s nowhere near any of those numbers.

It’s 1,000.

How does that math work?

  • Earn $100 from 1,000 people – and that’s $100,000.
  • Earn $1,000 from 1,000 people – and that’s $1,000,000.

It’s always nice to have more opportunities, relationships, and list.  But I know many people who hit that 6 figure mark without even having 1,000 people.

Because they USE THE ASSETS THEY ALREADY HAVE!

For each of these clients, by the way, my recommended campaign was to focus on the existing asset and develop strong campaigns and targets based off of what already exists before going after something new.

In the end – ask yourself:

  • Are you AWARE of all the assets that you currently have?
  • Are you LEVERAGING them the best way that you can?

If not, that’s why you know me or other experts who can help you get it done.

*mic drop*

Ken Course

Ken Course is known internationally for his high energy, experiential, and interactive presentations that create momentum in lives and businesses.​ He is the founder of Explore Momentum and On Course Marketing, where his Your Momentum Now Community provides small businesses with the resources and connections to create and launch their client-attracting programs. Ken consults and coaches companies worldwide in various industries including speaking, live events, digital marketing, real estate, nutritional supplements, direct sales, and many others.