Experts Speak
Experts Speak

Episode · 2 months ago

Increase Revenue Using Incentives vs. Discounts (with Marco Torres)

ABOUT THIS EPISODE

Marco Torres is the founder of Marketing Boost. Marco helps business owners understand and use the concept of value add incentives instead of discounts to gain clients and grow revenue. This is a old concept with a new twist that is incredibly affordable for small business owners. Listen as Marco shares a variety of ways that you can use incentive-based marketing to add dollars to your bottom line. And be sure to check out all that he has to offer at his website, marketingboost.com.

Welcome to the experts speak podcast with Michael de Lan. Each episode features a leading expert who shares helpful insights, practical tips and memorable stories that will inspire you, educate you and help you enjoy more success, freedom and purpose in your life. For the next few minutes, enjoy listening to experts speak with Michael de Lan. Welcome to another episode of experts speak. I'm Michael Lawan. Today I am talking with Marco Torus and Will Marco first. Well, thank you for spending some time with me. It's going to be a fun conversation, my pressure. Thanks for having me. You are welcome. So Marco has been around for a long, long time. He's a founder of marketing boost, and what I'm really excited about this, Marco, because you're approaching marketing sales business from kind of a different direction than, at least what is common today, in helping business owners understand the concept of value add incentives to gain clients versus discounts and things of that nature. Right to go awn. So I'm really intrigued by this. I know my audience will love it. Tell us a little bit, I'm how did you get to do this? Sure, thank you. Well, we launched marketing boost kind of by well, the whole concept came about, you know, and as an offshoot from another business of ours, and so we were the we've been in the travel space since I've been in the travel spaces one thousand nine hundred and eighty three, and then we launched our own by some partners of mine got together we launched a travel site of our own in twenty two thousand and ten, twenty two thousand nine and of two thousand two thousand and ten, and it started taking off, like you know, really well. We were we had found to do some great marketing techniques on facebook and we were really, you know, driving and spending a lot of money on facebook to drive traffick and volume, and that was working really well. But we needed bid we needed video reviews, video testimonials, is what we were looking for from clients to really be able to leverage all of our resort offers and what have you, and we had to come up with a way to solicit those. So it came up with an idea to and this tip I'm going to give you right here is a powerful tip that any business owner can use for regardless of, you know, whether they move forward with marketing Booz. My services are not, and that is we started doing a survey at the expected peak time that the client would be the most excited and happy about their vacation. And that was just a little you know, the after check in, the day after check in, for example. So we would send a series of, you know, a couple of messages prior to their travel saying Ay, we see you're getting ready to travel one, you know, tomorrow. They wish you a happy and, you know, the safe trip. And then the day after check in we'd follow up and say, okay, by now you checked in. Would you give us a some feedback on a scale of one to five? How do we how is this hotel living up to your expectations? How is our service been so far? You know, will you rate us from one to five? And if they gave us a four or five, that we had an automated automation platform that would send them back an instant email and text message saying fantastic, we're thrilled you're having a wonderful time. Would you do as a huge favor and help us spread the word about this particular hotel brand and our brand and give us a video review of the hotel and if you would do that and do a selfie video from the pool, the Bar, the beach, to you know, whatever it is your favorite part of the hotel or resort, we will will reward you with a complimentary hotels day on us at three night hotels day and your choys of Orlando or Vegas for examples. And and that took off and before we know it we're getting dozens of these video testimonials coming in from people holding up the camera, Selffees of the family on the beach and and and they were incredible. They were...

...really no awesome videos with real families and and we were leveraging those videos to the tune of thousands of additional sales all over our website, you know, and we live. Eventually we were generating hundreds of these videos and then thousands of we have now over thirtyzero video testimonials, more than any other travel website in the world. So that was, you know, a huge play. But then, as these here's how the marketing was. Can Buy as these businesses, as these clients started raising their hands saying, okay, I want my free trip, we were having to pay for those out of pocket. which was, you know, not cheap and so and so then we're like, well, we got to we got to come up with another idea to solve this. So we went back to our hotel partners and we said, you know, we know you've got a problem that we can fix. We know you're not full year round your you know your full. Sure, you're full for peak season, your full for holidays, Christmas week, New Year's Thanksgiving, for the July, you're full for on some weekends, but the majority of the year, seventy percent of the year you've got thirty percent of your rooms or more empty. And they of course agreed and we said we can help you put warm bodies, couples, families in these rooms that are going to spend. Instead of you generating zero revenue, we're going to help you generate some revenue. These people will spend money on extra nights, up room, upgrade types food restaurant, spend money the restaurants, the bars, the casino, the gift shop, the spa, the attractions and excursions and you name it right. So so they would. We initially got a half a dozen of these hotels to participate with us in Vegas and Orlandos, or we could fulfill the trips that we were given away. And as we thought about this, we're like, you know, this is a this could be a standalone business. We could actually, you know, reinvent and revolutionize the travel certificate business. So we're not the first to be in the travel that's or took the travel and set of business. It's been around for decades. But we were going to turn it upside down because all of our competitors were were they essentially made them. The whole concept was to make them hard to use and we said, if we're going to do this, we're going to make it affordable for anybody to join marketing boost. We're going to make it these incentives super easy to use, no hoops to jump through, no time share presentations or anything like that. And that's what we did and it eventually became what we call marketing BOOSTCOM. Today we offer complementary hotels days, and sorry for hugging the microphone, Michael. With them, go ahead and finish. It's pret at least too so. So we we now offer complementary hotels days and over a hundred and twenty five sexy destinations around the world from three nights days, to five night days, to seven nights days, places like three nights all over the US, thirty destinations like Miami Beach, Daytona Beach, Myrtle beach, Manhattan, San Diego, Las Vegas, Orlando, Brandson, you name it. Then we've got five nights in places like Hawaii, five nights in Cancun, Mexico, right now can't con we've got amazing resorts in Cancun, at the fives, resorts on the beaches and play att Carmen and River Amya, the AAA for Diamond Resorts. We've got destinations like seven nights and Pouquet, Thailand, seven nights in Balley, all over Europe, all over Australia. So it's now a we're a worldwide business and with members all over the world that use our service. We also have hotel savings cards and restaurant savings bouchers. So the hotel savings cards coming increments of one hundred, two, three and five hundred dollars and the restaurant savings bouchers are a hundred dollars. So these are smaller incentives that we teach our members to use. Micro incentives for a micro called action and you can take your customer up the value that your value ladder to take additional actions with you and then reward them with bigger incentive. Wow, okay, oh, we're out. We're...

...a lot to get off my gesture. No, I love it, because here's what's going through my mind right now. Right. So, way back in the day, back in the S, I was in Christian rate sales, right, and you always have the you these types of things. Calm. Did you buy the you know, you sell the radio thing and you get the guy gets a weeklong vacation somewhere and it's kind of gone by the way side. You're the first guy I've really heard in really a long time WHO's bringing this back in. But you're doing in in a unique way. So let me put this in context for my audience, and and I this is where I want to dialog with you, of how this could work for a local business owner listening, financial advisor maybe, or a tourney or home inspector. Okay, any of those doesn't matter. You've got these different levels of a sense. So you're running a my let's do a Webinar. And right is Webinar, right right at the end of the Webinar you're trying to get into the book a phone call or book as Zoom Call With You. You could use an incentive. Say, if you book a call with me and you show up, I'm going to give you a hundred dollar restaurant gifts, something exactly when you become a client. So on that call now they've already received. When you become a client of ours aught we sent all of our clients on a on a seven day excursion virtually anywhere you want to go right it's just the hotel, everything's paid for. You got to get yourself there, but all the comment or something like that. That's a just a gift that we give to all our am I on the right track? Yeah, you got the idea exactly right. So there's a number of ways. For example, you're talking about Webinars, so you could use the incentives, such as the hotel savings card, for example. You know they come in one hundred, two, three and five hundred dollar cash credits that buy down the price compared doing the Expedias of the world. They work like a gift card, but they don't cover the entire hotel rate. They offer from a ten to fifty percent off compared to Expedia, for example, and these these are you know. So, for example, you could use a hotel savings card as part of the draw card, the customer draw card, to get them to to, you know, come to the Webinar in the first place, and then during the Webinar, you may even say now, stay, Tellba very end. Those of you stay to the end, we're giving away three trips, one to Orlando, one to Las Vegas and and one five night trip to Cancun, Mexico, at the end of the Webinar. So stay, tellba very end and be engaged during the Webinar. And for those of them we're going to select you a one, two or three winners, whatever you might want to do, maybe just one giveaway. Keep them. Even though it's a for marketing buses, make it clear it's super cheap to join the market. He was is only thirty seven dollars a month for any business owner anywhere in the world to join marketing booths and have access to unlimited amount of these giveaway incentives. Now, even though you can give them away like candy, we recommend you don't. We teach our members use them with scarcity and create scarcity and urgency in your offers so that they want come across a believable to they are. You're using them to get them to actually do whatever it is you want them to do, such as join the Webinar or, you know, or book that appointment with you. You know one thing, I definitely have a lot of members who use our incentives to you know, for example, the hotels as card of the restaurant Bouchers just to book that free, no, no obligation, consultation phone call. So let's book a twenty minute consultation zoom call and just if you show up. You know, mind you, one of the problems we have is first getting people to book the appointment and to getting him to show up. So you might use the incentive to say, you know, hey, I'll give you a hundred dollar hotels saving these card for booking the appointment and, of course, showing up. We understand your time is valuable. We think ours is as well. So if you do show up on time for that appointment, I'm going to reward you with a two hundred dollar hotels save these card just for showing up. And then, once you got them on that call, now at the end, you might be saying. Look, by the way, we've got an incredible relationship with our travel partner, deemed vacationscom. That's the company...

...that that's the website that we use to fulfill the trips, and so your client will never hear about marketing boosts. We're never going to tell your client about that. So that's your little mastermind marketing secret, and so you may tell you, you know, your client. Now the end, I've got this great relationship with our travel partner, redeemed vacations. I do business with them. I'm I can give you. I've got a handful of these left this month. If you take action this week and hire my financial, you know, advisor firm to help you, you know, with your goals. And is that the other if you hire us for for, you know, today, I can go ahead and give you a complementary hotel stay and your choice or Landollas, Vegas, or even get good Mexico and boom, you know, and give them them, you know, some similar some small options like that to go ahead and take action. But I want to hug the microphone, Mike. I'll let you mark Mike. I'll let you ask the next question. That's good. Now that. That's great because, and you said it earlier in it, because the hidden concern usually, as I yeahs Batan switch. I'm going to get. Damn there I got to say through a threehour time share thing. Wild talk about that because that's not part of the deal, right. Yeah, no, there's none of that involved. No hoops to jump through. We make it easy to you. Our competitors in the certificate travel in center business often do make them very hard to use. For example, they'll have forty, five even sixty days advanced notice for travel required. They often even ask you to provide, okay, provide us with to your to preferred travel dates at least ninety days apart, and you know stuff like that. HOOPS did come through. They make it reliven possible. So in our case we have thirty days advance notice. Some of our destinations only fourteen days advanced notice required. There's a online platform. After they activate the certificate they can immediately log into a platform. They'll have eighteen months to select travel dates. They'll log into an online platform, put in the dates they want to go and and it'll show them what hotels are available for those dates and if the available, they can go ahead and Click it, book get and get instant confirmation, instant gratification, no phone calls to make, no hoops to jump, no, no, no, nothing. And now there is a fee to pay. So there are here's let's go over some of the restrictions. So, for example, there is an activation fee that either the business owner can pay for the client if they select two. So if you've got to, if you've got a high ticket item, you're making a lot of money on a transaction, you may want to pay the activation fee, which covers the government taxes. In other words, the government's going to get paid no matter what. And each of these hotel bookings, when US somebody checks in, they don't understand Free Room Knights, that don't understand discounted rooms. They expect to get paid their average, you know, taxes and fees for that room. You know there's tourism fees and Yetta gotta. So it's basically the activation fee covers those taxes. They run about between twenty five to forty five dollars per night on average to for each destination. It depends on the destination and what are the average taxes for, you know, for that property. So you'll pay the activation fee and and then you'll have either you can pay to the client. Most of our members let the client pay it, so they just do a proper disclosure. I'll tell the client, Hey, I'm giving you a free hotels day. You're going to have to pay get your own way there, your own air fair, your own food and beverage and of course you're going to have to pay to, you know, the government taxes and so they've got done the disclosure and we can teach them how to do that. We help you build the sales funnels for that with the disclosures built in so that you're covering it properly. Then you send them the certificate and it's up to the client or not if they want to activate the certificate. If they do, they've got eighteen months to travel and it's you know, it's a win win when a win for the resorts. They're getting people spending some money on the property versus none, and we're helping them fill obviously that's the other thing that comes about. We're helping them fill rooms. It would have likely gone unsold. So that means the egg, the the certificate is not going to be available to travel for Christmas Week New Year's Easter, fourth of July is not going to be, you know, peak season. You're not going to get a ski week and Aspen,...

...you know you're going to get. You know you're going to get the offseason, so to speak. To we average about thirty to forty weeks per year per destination of available inventory. So it's a lot, but it's obviously it's if if they can only travel on their birthday or they can only travel on Christmas week and might not work for them. If they who else shouldn't use this certificate? Well, that they can only if they're only willing to stay at the Taj Mahal or at the Ritz Carlton. But maybe that we don't. We don't promise any particular brand. We do have all three, four and five star or five bubbles based on trip advisor reviews. So we only select hotels that having typically a four or five bubble reviews on trip advisor, and so that keeps US essentially providing quality resorts and hotels to the clients and all the destinations. And and again, you know, we're giving providing about thirty five weeks of available inventory, you know, throughout the year. So they do have to be over twenty one years of age to use the certificate at these one person in the Party and and no group travel is allowed. So they can't book. You know, you can't took her into a convention for all your clients there. Yeah, that's right. Yeah, that's awesome. Let's in. Those are those are the restrictions. There's not too many, but that's what that's the majority of the ones I got to cover. Right to let's talk about you get database. So so, a lot of my clients have a database of I call it a dormant database. People raise your hand. They didn't buy they're in the CRM system and they're just doing nothing. Nothing, and and we've got strategies and things we teach about, you know, emails and different things to breathe life in that database. How could somebody you something like this to bringe some life in that database, to bring them back into some activation? Yeah, that's a real good point. And and I've helped a lot of people do exactly that. And so one of the ways, you know, again, you create those email campaigns with a with a course of something else that you're putting together, you know, like join us for this exciting new Webinar that we've got great new content about and so on, or or you're inviting them to book it a, you know, a renewal, a new appointment with you, this year's. We can Dick a look at your your finances. You know where you're at today compared to where we are the last time we spoke five years ago. And let's and so, by the way, you know then you do this for the first so now you again creating that scarcity in urgency for the first you know, twenty bookings with me this month. You know I'm going to reward you with a complementary hotel stay in your choice of Cancun or Orlando. You know, something along those lines. And and now you're you know you're going to get people go whoa what you know, I'll get it. So if I book an appointment where you no obligation review, you're going to do the what you know, the Yep, I'm going to give you a first twenty. And of course they don't. You can give away everybody who books because you're you, you have the unlimited amount of these incentives to give away. But again, you want to, I would recommend you create some scarcity urgency and reason to take action now. The first ten to take action, the first twenty to take action. This week, I'm giving, I'm providing a complementary hotel. Stay on me. You know you're responsible for the air fare and you know taxes and food and beverage, but I've got your hotel covered. On me. It just for booking an appointment with no obligation. And revive that database again. I've had people build their their social following. Out. A guy go build his facebook group from zero to tenzero members in less than ninety days by using by running contest every week on his facebook group and inviting every new member the joined it. You'll help spread the word and bite twenty people. For every twenty people you invite to join this group, you'll get a chance to win our contest this week, which is five nights in can good, and then next week it's three nights in Las Vegas, next week it's seven knights in Pouquet, you know. And and the group grew. And of course, once he's got a huge group, now he can be used the authorities, the expert. It can be delivering content, financial invite, advice, you can be doing whatever. He's the expert at and he can begin to monetize the group. So that's, you know,...

...an example. I can keep going. So we'll keep chatting on ideas here. Well now and that. And that's great, because the you know, the other thing is when you do it properly, it doesn't come across as seals, the sleazy whatever that many times in the past that's how it felt. But if you do this genuinely, using, using it in the right contact, it's going to come across as wow, right, because there's there's an integrity aspect that just follows with all of your other marketing, your branding. It's here something specials. That is that what you have found is how people can use it. That's absolutely you're necessary. If you've got no if you've got no current reputation, if you don't already have a decent product or service, throwing in the marketing booth incentives is not going to be the magic bullet that turns it into a million dollar company. This will support and help anybody who does already have some credibility of some some you know where, because again, people gonna have to believe this offer. I mean they believe it if it was verizon offering the promotion. They believe it if it was you know, att and what might might they believe that if it's coming from, you know, Marco Tauris? Maybe not. That depends a little bit of on how you present it and how believable you make it, and that's why you don't want to give them away like, you know, hey for that, I've got a thousand of them to give away. They will come on. You know, now it sounds so so you do need to create and use them sparingly, but often enough that it's keeps your client, you know, and always doing something to earn it. Here's an example. Loyalty programs. You, let's say you're that business coach. You might say, look, you can hire me on a month to month basis. There's no long term. Can you know? Depending on your deal, I don't know, but you know you're maybe you don't. Maybe you let people hire you month to month basis. I don't have a long term or annual contract. However, I know that if you don't, if you don't stick with me for at least six months, we're not going to see the results. We're going to need to work together. I'm going to be holding you accountable. I'm going to be coaching you, teaching you. You're going to see the rewards over a little period of time together as we work and test things. So I will reward you on your three month anniversary with a five hundred dollar hotels say these card. You can use it over a million hotels anywhere in the world. But when you get your six month anniversary, I'm going to reward you with six days and five nights in Cancun on me. You'll be responsible for your own airfare, your own food and beverage, but I got your hotel stay covered on me at a triple a four diamond resorting can code, which happens to be what we have right now again. It's why I reck keep talking about that good it's one of our best destinations, and so I'll you know on I'll on me, I'll kick into your hotel stay and you'll and you couldn't and you'll have the choice. By the way, the marketing Moose member does have the choice. If you got a high ticket item, you could pay that activation feed for the client and truly give them a complimentary hotel stick, or you could do what most of us do, and that's let the client pay the activation fee simply by disclosing that they are responsible for Texas and piece right. That's fascinating. I really am intrigued about this because it it takes your presentation and everything just to and to the next level when you do it properly, and it gets you away from the whole discounting and everything that just really actually reduces the credibility. Right now, let me let's talk about another another to whether you use marketing booths and centers or not. You know, Michael, you asked me earlier about the idea of value adding centers and this this is important to do, whether or not you use, or even if you are using marketing booths. Again, I recommend using them sparingly and what have you. But you can, you can find possibly, you can find ways to add your own additional units, your own value add so, for example, let's suppose your that business coach I was talking about, where you're a gym. Say You're a gym membership and you're saying, Hey, you know, the goal here is to get you to lose twenty pounds and we want you to sign up for the gym membership. We've got a ninety day quick start program Ram here now that can be used. Whether...

...you're multilevel marketer or you know, look some sort of quick start program if you're a financial advisor, look as if you hire me the key as I need you to, need you to you know, we're going to have to sit down and spend some time together where you're going to open your books and show me everything you've gotten. You're going to show me all of your what you know, what you've got in most people, believe it or not, they hire me and then they'll drag their feet about getting together with me and show opening their, you know, their whole program so if you get together with me right away and you start implementing the things I suggest to you, and if you do all these things in the first ninety days and do everything I ask you to do, I'm going to reward you in ninety days with the following incentive. Boom, you know. Or but going back to what I was saying about your own incentence, so let's say you're a business coach or a Jim. You could say, Hey, sign up for six months and we'll give you the seventh month free. Psychological tests have been done to prove that people are inclined to take action with additional value bonuses, by one getting one free, that type of thing, versus just seeing a ten or fifteen percent discount, twenty percent off there. If you can add more value, you can add more which it's add an extra month or two of service. You know, you hire me for the year and I'm going to give you the thirteen and fourteen month free, plus on top of that, on your anniversary I'm going to reward you with a complementary trip to cant could you know, whatever it is. But so you're building that loyalty or building that client to stick with you for a while and you're getting them to take a you know, a bigger make a bigger commitment, for example, versus just that let's go with a month to month plan and see what happens. Absolutely and all of that just flows so, so smoothly off your lips. You've done that a few times where where I mean, wow, here's what I love to do. Because we're coming to the end, I want recap just a little bit about what this is the website where people can go find at, because we're talking about a different a different message that you can reward people start really winning their heart and in in entice them might be the right wrong word, but that's really what you're doing to say, Oh, you're going to do that for me. Yes, it positions you very differently in their mind and it's consistent with her. So little, big blow on all of that. Well, yea. What one last thing? I'm going to point out one great idea for your financial advisors or insurance agents, your real estate agents, one simple way to use these incentives. Of hopefully don't go over time on you, but good, I forgot about this. I want to cover it, and that's to lead by giving. I've had hundreds of real insurance agents especially, and also the financial advisors that are what they're doing with the marketing boost incentage is their supporting local charities in their community, local fundraising drives, and they step up and say, Hey, I'd like to spawn sure your next fundraising event and I will sure. What do you mean? Well, my firm, my insurance company, my this we're going to sponsor that, your event, by providing you with, you know, half a dozen complementary hotels, days and the following destinations. You're going to be able to auction them off at the event. And and and keep all of the the revenue raised. You get keep all the revenue our company is providing the six complementary hotel stays. The winner of the auction, you know, we need to disclose, are going to have to pay the their own air fare, their own food and beverage and taxes and fees, but they're going to get the hotel accommodations for whatever it is they bid on the at the auction. And so you've explained the program and you know. And now the day of the fundraiser, you have typically a captive audience to give your elevator pitch to the audience and say, Hey, I'm the expert in financial advice and this is what I do and this is if I can help you in this way and that way, be my pleasure. We're glad to be a sponsor of this event. So you're positioning yourself as the philanthropist, the expert, the authority that can afford to give away trips just to help this nonprofit.

So you're, you know, a good guy and if you know, the philanthropist is so when they think about you, you're after the event, shaking hands, heading out cards, you're generating leads, and so that's one way to just get yourself in the realm of using the incentives, which only cost you thirty seven dollars a month to be able to, you know, get in that circle of philanthropists, which are who are the philanthropist, the one percenters. So that's where you want to be involved with. If you're you're if you're a financial advisor, you want to get in there. You want to be smoothing with those that could afford to give to a to door any money. Right, absolutely, that's great. So all right, so, Marco, where do they go? Marketing Boostcom? Is that the best place for them to go? Simple place to go to marketing boostcom and find out how your business can drive versus survived with the use of traveling centers. Which one lass plug on that right now? Couldn't? There's no better time to use travel in sentences. People are traveling now. I call it revenge travel. They want to go somewhere, they're tired of lockdowns and they these are being we've never had so many activations and people using the certificates. So now is the best time ever to be adding these to whatever it is you're trying to get people to take action on marketing boostcom. Get a seven day free trial. It's only thirty seven dollars a month after that. I love it. Marco, thank you. This has been intriguing and fun and I just yeah, I hope people go check it out, because this is definitely one more aspect in your marketing that will help set you apart, give you a different message and add great value to your prospects and clients. Definitely something that you want to do. Marketing boostcom, Marco Tours, thank you so much for being on my podcast. Sir, you better. Thank you, Michael. Thanks for listening to expert speed with Michael Delong. If what you've heard today was helpful to you, reach out to our expert guests and see how they can serve you to bring you more success, freedom and purpose in your life.

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