Well, it’s not what you think. No I haven’t bought a Ferrari, I’ve been given one!
Quite honestly, by personal choice, it’s the only way I’d have one. My preference is still my Lexus SC-430 of which I’ve had 2 over 12 years.
The truth is I thought I got lucky. My wife, Ying, texted me a photo of a bright red Ferrari and said, “Here’s what’s waiting for you when you get home!”
I thought, “Gee, she’s bought me a Ferrari!” and I doubt I deserved it although every day I do my best in the hope of building up points… You never quite know what these points can buy you! 🙂
Anyway I rushed home expectantly hoping to see a new Ferrari in the driveway.
It wasn’t, instead it was on the kitchen breakfast bar, all 60cm (2 feet) of it!
You see my wife had taken it out of the beautiful box it was in along with a postcard that accompanied it.
Of course, I had a laugh with my wife about a real Ferrari but then proceeded to investigate what was going on.
Turns out, it was from AMEX. It was a lead generation weapon of mass seduction designed to get an appointment with a likely prospect.
In my world it’s called a “bait” except these days the “baits” need to be bigger and better.
You can’t catch a whale with a minnow anymore and most business owners are trying to get a client using a minnow as “bait” at best. Most business owners don’t use any “bait” at all. They give you no reason to “try” them out to “get an appointment”.
So this is some pretty impressive work from AMEX although so far they’ve screwed it up I think!
Anyway, here’s how it all worked…
The car came with a postcard which I’ve included below back and front.
In a nutshell, the AMEX plan was to get an appointment with a business owner on the basis I suspect they have a particular “card” that’s been specifically designed for them.
They’ve given it a name, which is also smart, and they’ve called it “The American Express Platinum Business Card”
And to their credit again, when you sign up, you get a whole pile of valuable extra special bonuses which are all listed on the postcard below.
But here’s the catch… they say there’s always a catch.
The car is radio remote control and it comes without the controls and the only way you can get them is by having the appointment. Isn’t that great work?
I mean in reality they’re buying the appointment but they know their mathematics.
They know if they get in front of a certain number of business owners, a certain number of them sign up and stay for years and spend a certain amount of money, which makes this whole thing tick!
Now I want my remote control!
Here’s where things have gone pear shaped though. I’ve waited about a month to be contacted by AMEX to make that appointment to get my radio remote control because I want to give this to my grandson, but they still haven’t called!
So today as I write this, I phoned the number on the postcard. It rang for an inordinate amount of time and was finally answered by a message bank whereby I was asked to leave my details and they’ll contact me soon I’m sure.
Who among you thinks that would have been better if it was actually answered by a live person even if it wasn’t “Rebecca” as promised on the postcard?
So all this work that has been done by AMEX has been fantastic except the execution after sending the Ferrari is beginning to cause me doubt.
Maybe they’ve sent this to thousands and they’re inundated with responses, as they might be with such a great FREE offer.
Not sure, I’m second guessing and frankly the doubts are building.
Doesn’t matter, they’ve made a great investment in my emotional bank account and now they’re starting to make withdrawals.
Anyway, I’m interested in what happens next. I’m certainly interested in watching the sales person when they deliver the radio remote controls and what they say that causes me to sign up.
So there’s lots of lessons to be learnt from all of this and they’re in no particular order so let’s list some of them here…
- They use bigger, better “baits” to attract the client and get the attention of a client in a world full of clutter that’s competing for our attention.
- They used emotional direct response marketing (EDRM) , they figured who their ideal prospect was and went direct to that source with an outrageous offer.
- They used an outrageous offer, although scarcity and urgency left a bit to be desired.
- They went negative to buy a client knowing what a client is worth to them over their lifetime, that’s called lifetime value of a client (LVC).
- They knew their mathematics, they knew what they could afford to do, which of course is unlike most business owners who measure and test the results of anything and wouldn’t have a clue about the mathematics of their business.
- They used 3-dimensional mail or “lumpy mail” as we call it, which most business owners mistakingly don’t use and the big corporates think is not appropriate, cheap and nasty if you like for their industry.
Wrong again! AMEX is targeting business owners and corporates with this, I suspect.
- The use of direct mail means within reason, their competitors don’t know what they’re doing and it takes a hell of a long time to find out what they’re up to.
- They’re not wasting money on broad based advertising media like radio, TV and print where you’re hoping like hell, a prospect will run into it.
Frankly, if I was going to pray about something like prospects and clients seeing or hearing my ads, I think there’s other things I’d like to pray about but most business owners literally pray every day whenever advertising and marketing is concerned.
- With this model, AMEX can put it in a sequence where they get to send me more stuff and contact me again via mail or phone in this case.
Now most business owners do one “random act”, one ad or flyer, hoping ti will make them money. Good luck! You’ll need it. The sequencing model is way superior. The general stat is you’ll double your results with 3 sequences, that is, contacting a prospect 3 times on a given subject over a relatively short period of time like 10-20 days.
So if you want to succeed in a business world turned upside down, one of the best things and most important things you can do is to build better, bigger “baits” to catch them just like AMEX have.
All the Best,
P.S. I’m looking forward to what happens next from AMEX and me getting my hands on the radio remote controls for the Ferrari.
P.P.S. Rebecca from AMEX just returned my call about an hour and half after I left her message but before this blog got posted. She was great and I’m booked in for next week to catch up with her and get my radio remote controls. Hopefully, I’m impressed because I’m often not!