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The Power Of The Number 8

Wednesday, October 31, 2007

(GIFTBEAT)According to Jay Conrad Levinson, the" father of guerrilla marketing," there's marketing power in the number 8. Read on, as he talks about consumer buying habits—and how a modern-day spin on a traditional Yellow Pages ad can help build your business.

Q. Why should retailers focus the majority of their marketing efforts on a minority of customers?

A. At any given point in history, 8% of people are interested in buying. Four percent of people want what you're selling. They're "ready" to buy and have the money. Another 4% are "very ready" to buy. They just need a little more information. They are intensely fascinated [by the information you give them.] The other 92% don't really care about you. So, you shouldn't care about them. Aim at those 8% who care. [But remember,] what people care about changes from week to week.

Q. Do the Yellow Pages still make sense in today's marketing world?

A. People who go to a section in the Yellow Pages are among the 8% who are interested in buying. Consumers do use the Yellow Pages, like when they're in a large city and want to buy [an item] for a person or occasion. When a gift store owner in San Diego opened her store, she had five pages of competition in the Yellow Pages. She decided that [people looking for gifts in the Yellow Pages] wouldn't know where to start. She wrote a small headline for her ad about how to select the right gift—and offered a free phone consultation on selecting gifts. When people called her, she gave them four buying criteria. Then, she asked, "Can I make an appointment for you at my store?" Keep the ad small, and add a component about how to go to your website.

Note: For more about Guerrilla Marketing, go to gmarketing.com. Log on to amazon.com to purchase Levinson's book "Guerrilla Marketing: Easy and Inexpensive Strategies for Making Big Profits from Your Small Business" [2007].

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