This month I’ve been talking about traders and buying…a lot.
For sometime now, I’ve wanted to expound on that and here
Yes traders are buying again. BUT…they’re not buying the
same ole, same ole ….and they’re not buying because of
the same old marketing approach!
The first point really focuses on a true change in product.
The robots and auto-trade systems have left a wake of vividly
red accounts and traders have really figured it out! The ‘old’
products have also gone by the wayside of ‘here’s a FULL
course on trading XYZ…good luck and thanks for the cash!”
I’m confident none of you went to college and had a professor
drop the 40lb Micro Economics text book on your desk and say
‘good luck!’ We pay professors to be fully engaged in their roles
to teach and educate, and that’s the point.
So if you want to turn a reader into a customer, you need to give
them what they want. Put yourself in your customer’s shoes, and
really think what would have advanced your trading.
The other point regarding the ‘same old marketing approach’ is
one that seems to linger like a bad houseguest who’s elected
to take up permanent residence on your couch!
The ‘audited broker statements’, ‘X pip returns’, etc and the
focus on hyperbole in its fullest mode needs to stop. Even if it’s
true, you know the chances of customers actually succeeding
at what’s being claimed is low. The customers have seen/heard
it all before and they’ve seen the claims not come to fruition.
This might have been a great marketing tool at one time, but
those days are over. BS detectors are on high alert when they
see those crazy claims.
So…Be real with customers! If they can make a few grand with
safe trades, then that’s awesome, but don’t make the huge money
the focus or else they’re going to walk and discredit you. If you’re
making money, which you should be, then you should pass that
info onto your customers…but keep them GROUNDED!
Next, we shouldn’t be surprised that traders stopped buying!
Of course the economy was a big factor but so was the overt greed
and arrogance of marketers. Everyone just assumed people would
buy anything! At one point, it seemed like they were.
We were seeing traders selling products make more money in
a month then entire towns in middle America do in an entire
You begin to plan your trip to the Maldives, you consider big game
hunting in Africa, and you ready your home for gold plated duct
work because you have THAT much cash.
Those things aren’t bad, but financial success can’t be your ‘soul’ goal.
The customer becomes a number instead of a real person who’s risking
a mortgage payment to buy a course or product. Customers are
dehumanized and marketers see them as dollar figures.
“Brad I’m addicted…I can’t stop. Customers are just dollar signs
to me…can you help”?
Yes, and it’s simple.
Talk AND Listen to your customers. They will tell you in many ways
all you want to know and all that they want to know. They’ll even
make your job easier…customer input will help refine your product.
All my clients actually have conversations with customers. This
not only helps with sales, it snaps their minds back to the reality
that customers are people JUST LIKE THEM! Oh yeah (YES)
Stop counting your money (in your head or online) and connect
with the customer so you can feel what they feel. Know what they
know, and focus on making them and their success the priority
of what you do. You can set up a time to call customers, like
every Monday, do a random customer call…would that blow
them away or what??
Might be tough for you to do that, but how about personal
responses to blog posts and emails? That’s something you can
do to help you connect with them. Whatever ideas you have
to add, I’d love to hear them in the comment section.
Now, more people are buying because products are better. They
have to be! Products have to evolve to ensure better training
and a closer relationship with the customer. The products
themselves are becoming more robust in the sense of depth and
Just as I said above, real on-the-ground pragmatic teaching
is becoming what traders are looking for to ensure they spend
their time and money wisely.
You need to step back and examine your product from top to bottom.
Does it provide all a customer would need in a niche or technique?
Is it complete? Is it easily understood? Can the teachings be applied?
Creating this type of product takes time! Before, a product could be
produced and sold without much back-end work.
No more…customers want you to have skin in the game, and your
time is the best skin they could want. Consider yourself a professor
of sorts, where your personal time and success in a subject is what
students look for. The value is your TIME, among other things, so
focus on ways to give them that with your products or services.
If you’re teaching an Emini course (kinda like this one) then
teach it fully so you can answer YES to the above questions!
Customers want more, and deserve more. So give it to them.
Actually, start with me…comments are open!