Which kind of prospects list do you want MOST?

By Eo Lim
Posted Saturday, October 9, 2004

Many years ago, I was just a `newbie' in marketing. I started out as a sales promoter for a magazine at young age of 13. But I had yet to learn one simple concept that could turn a little `granny' business into billion dollar corporation.

I virtually yelled at anyone on the street. Sometimes, I even hired a street beggar to play guitar to attract attention. I turned myself into a foolish clown.

Did it pay off?

Yes. But the money I made was just good enough to feed me alone. I wanted more to support my family. Still, I couldn't think of a way!

At the turn of my legal age, I had grown more composed. I spent lots of time in deep thinking. And I found the cause of my pathetic success – I didn't put marketing into wiser use.

One day, I decided to humble myself. You know… I'm a bit obnoxious by nature.

Anyway, I knocked at the door of a major independent distributor in magazine industry without any invitation. I was lucky because he didn't chase me away.

I told Mr. A my problem straight away. And I said…

"Sir! I think I'm as good as you. But I still can't make that much money as you!"

How did he reply?

"No, you're not as good as I. I see where the money is!"

That's it! Discussion was over. He didn't tell me much. And I thought that he was teasing at me. I applied what I had just learnt. I didn't give up to learn.

Many years passed…

The Heaven is good to me whenever I humble myself.

One day, I met a foreigner.

This person owns a huge mansion as his hideout in my country. He is a real billion-dollar director of many international businesses. His liquid asset is comparable to the kings who rule the oil-producing nations.

Not even Bill Gate can match him. This isn't a joke!

He has a special photo room showing all his assets around the globe. Maybe that's the reason he chooses to stay offshore to avoid much attention. By the way, I still don't know his real name.

Well, I managed to steal a chance of my lifetime to see him in person. This time I asked different question (in broken English).

"Sir… what people mean when they say `see where the money is'?" I nervously asked.

He laughed at my silly question. However, he benevolently showed me the answer.

"It's easy, young man."

"It means you must sell things to people who have the money." He gave me a direct answer.

"What! That simple!?" I was shocked. "I do this for years but I can't make more money!"

I can still recall my silly expression on the mirrors. His personal reading room is full of mirrors. I don't know why…

"Young man, what you think you know ISN'T enough!" he laughed.

"Such as…" I wanted to know more.

"Ok, what do you do?" he jokingly asked.

And I said, "I sell car magazines".

"Well, sell to people who own cars!" another simple answer from him.

"Hey! I know that!" I was getting impatience.

"No, you just don't know anything," he said.

"You must absolutely sell to people who own BMW, Mercedes, Ferrari and Jaguar," he explained. "Go Where Most Money Is!"

"So that's the answer!" I screamed. And he laughed again…

We spent another hour together. He taught me some other tricks of the trade that sound foreign to me. I will tell you more some other time in this Letter : (http://www.eolim.com).

My dear friend, what is the moral of this story?

I believe you know the answer. "Go Where Most Money Is".

However, don't get me wrong. I never mean that you must put your high-price tag and expect people to pay you. No, it doesn't work this way.

Pricing is a relative measurement. You have to give a price that is relatively comfortable to high-end buyers.

For example, you can't sell a $500 toothpaste. You must observe the price range in the market. You must test the price that high-end buyers are willing to pay for. You have to know their buying pattern.

So, let's go back to the question above the headline.

Are you collecting leads? What kind of list do you want most?

Answer – It should be the proven buyer list.

By knowing this, should you dump the newsletter readers?

NO WAY!

You don't know when they'll become your customers. It is your job to sort, sort and sort out… the affluent buyers. And filter out high-end buyers from your newsletter reader list IS smart business. These people make a real difference in your return-on-investment. You must absolutely pamper them and they'll return you a rewarding favour.

If you can afford to buy a name list of proven recent buyers, go ahead. Just do it! Don't spend too much time when you've the money to work for you.

Spend some money to buy in-house list from Agora, Philip, Rodale and Reader's Digest. It may sound expensive but the reward is a lot more than you expect.

If you've limited budget, keep collecting leads and sort the buyers out. Huge list doesn't matter at all. The only advantage is, you're able to collect more proven buyer leads.

Would you want a name list of 100 proven recent buyers, or 100,000 newsletter readers?

Think about it.

Therefore, don't make a mistake thinking that owning a huge list can make a difference. No, it is not. You have to Go Where Most Money Is. That is your objective in order to grow your business.

"Go Where Most Money Is"

Thank you.

Sincerely,

Eo Lim

P.S. Earn a free e-book to discover the techniques to build proven recent buyer list. It is the way to go where most money is. (http://www.eolim.com/pbl.html)

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