EP. 23- You’re Ignoring Your BEST Prospects l Jay’s Scoop

Foreign welcome to do this, not that, the podcast for marketers. You'll walk away from each episode with actionable tips you can test immediately.

You'll hear from the best minds in marketing who will share tactics, quick wins, and pitfalls to avoid. We'll also dig into life, pop culture, and the chaos that is our everyday. I'm Jay Schwedelson.

Let's do this not that we are do this Ing and not that Ing. I will never sing like that again. That is embarrassing. Oh, all right. I'm excited to talk about this today.

You know what got me thinking about this was that I saw somebody won some big lottery, okay. And they win the lottery. And then I didn't know this, but in the state of Florida, you probably don't know this.

You have 180 days to claim your Powerball price. Did you know that? I didn't know that.

Anyway, but it got me thinking about this amazing thing in the world of marketing, specifically email marketing, that most marketers don't think about because we're just missing it. As a marketer, business or consumer, you are ignoring your best prospects. What do I mean by that? Okay, you have an offer.

Maybe it is 20% off on a clothing item, or maybe you're trying to get people to sign up for a webinar that's going to be on a Friday. And the offer, you're promoting that offer.

And then the day comes, the offer occurs, the 20% offer occurs, or the webinar occurs, and you as a marketer, you move on after that. Now you're on to the next offer, whatever it is that you're promoting next. But here's two stats that actually blow your mind.

On average business to consumer, 22% of all click through traffic in your email promotions will occur after your offer expires. What does that mean? That means somebody got that email about that webinar or about that 20% off. They didn't react to it at the time.

Okay, maybe they missed it, or maybe they saved it and then they came back to it a few days later. But, oh, the offer is no longer in the right time period. It is over. But the person decided, I'm still so interested in the webinar or the sale.

And they click on the email and they go to wherever it is that you're taking them. 22% of the traffic occurs after your offer expires. Now here's the crazy stat that's going to blow your mind.

The lifetime value for people who convert after the offer expires. Is about 200% higher than people that take advantage of the offer during the actual offer period. Why would that be?

Why would the lifetime value be so much higher for people that respond after the offer is over? And here's why. When you get an email and you're interested, think, oh, you're instantly interested.

It's almost like a knee jerk reaction for you to react to that offer. I got something, I looked at it, I'm interested, I react.

Now if you get something and you look at it, you contemplate it like, am I interested in this? Yes, I am. I don't have time for it. I'm putting it off to the side.

And then you come back days later, weeks later, whatever it is, you're like, oh, yeah, I thought about that offer. And then you respond to it. You are consciously going back to that email and responding to that offer.

It is a conscious decision, which is why that lifetime value is so much higher. Why am I telling you all this? I'm telling you this because we all make the same horrible mistakes.

So where are you taking this 22% of the traffic after the offer expires? Right.

If on the business side, someone clicks, they want to attend that webinar and you take them to a page, usually take them to a page that says, I'm sorry you missed the event, and it's some sort of really boring page. It's like all just white and terrible. Very rarely does it say, hey, sorry you missed out on the cloud computing webinar.

Here's three other things that you could register for right now that you could watch right now that are super awesome about the same topic. We very rarely do that, but that's what we need to be doing because these are golden prospects.

If you're just taking them to a page that says, I'm sorry you missed it, you are giving up on your best potential customers. On the consumer side, it's the same thing. I don't understand. I'll get an email offer for a pair of jeans and then I'll miss the offer.

20% off a pair of jeans, I'll come back to it, I'll click on it. When I click on it, it doesn't say, hey, you missed the sale, 20% off sale on these jeans.

But good news, there's a 25% off sale on these other jeans that you could check out.

Usually it's like, I'm sorry you missed the sale on jeans, but here's a sale on tank tops that you don't need or want that are totally irrelevant to what you just clicked on. You want to grab that traffic, that super valuable traffic, and present them with something that is awesome, that is just so awesome.

And so this idea of what happens after the offer expires and what you're showing these people, it can last for about 150 days. It can be that long. So don't just take them anywhere. Don't just be like, I need to move on to the next offer. Think about that traffic.

It is super valuable. These are your best, absolute best prospects.

All right, now we get to the segment of the podcast where I take a deep breath and we talk about things that have nothing to do with anything work related. It's called since you didn't ask, and Halloween is right here.

So I thought I would share some of the costumes that I've worn in the past and what I'm thinking about wearing this year, because I feel like that's a very, very important topic and you'll be embarrassed for me after I tell you some of the costumes that I've worn on Halloween. So one year, for example, oh, my God, there's one that's so bad. One year I was a whoopee cushion. That was actually pretty good.

I was a giant whoopee cushion. The big pink whoopee cushion. I thought that was pretty funny.

Another year I was Alan from the Hangover, which is the dude who walks around the man purse. And then I had baby Carlos, the baby strapped to me. And I had a big beard. And that was pretty awesome, too. I like that one a lot.

But the one that my family was mortified that I wore, which is possibly the greatest Halloween costume anybody's ever worn, was one year I was a toilet. Yes, I was a toilet. And it was an amazing costume. I was in this big costume, and it looked like this big toilet came out attached to my stomach.

It was great. But the thing that I did that literally my family had shame, they felt shame, was I said, I have the greatest idea.

And I went, and I don't even know how to cook that much. And I cooked meatballs. This is true. I cooked a bunch of meatballs. And in the toilet part of the costume. I put the meatballs in the toilet.

I don't have to tell you what they looked like. You kind of can get the idea. Okay. And then I walked around my neighborhood with in it being a toilet with these meatballs.

And what I would do is, as I pass people, I would pick up a meatball and I would bite into it. And it was amazing. I was so proud of how disgusting and ridiculous this was.

So my wife said to me this year that she's like, we should be Taylor Swift and Travis Kelsey. And, you know, because that's what's going on. He's on the Chiefs, whatever. And I was like, no way. I go, I don't want to do that.

But then I came back to her and she said, you're. You're a total idiot.

And she said, I said, you know, instead of Taylor Swift and Travis Kelce, how about you're Taylor Swift and I'm Travis Kelce's mom, huh? And she's like, what's wrong with you? Anyway, tmi, we'll see if that's what I end up being. I will share a picture, whatever I do.

And don't be a toilet with meatballs. Just don't do that. And don't. Don't ignore your best prospects. And thanks for listening. You did it. You made it to the end. Nice.

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