Baby Boom Wealth Transfer

The baby boom’s leading edge is turning 60 this year. That means roughly speaking, 1,000,000 more adults will turn 60 each year than has been the case prior to the baby boom. Now, of course, this has been true of this age group for 60 years. They have been impacting schools, politics, consumer spending, and much more as they have moved through the age groups like a pig in a python.

One need not be a prophet to predict that the coming dramatic increase in us old people will result in great business opportunities in health care, leisure living, and golf clubs. However, there is a little talked about impact that may be the biggest headline of all.

The baby boom’s parents are just about to transfer the biggest stack of wealth in the history of the world to their kids. With the USA’s current average life expectancy at 79 or so, at least one parent of most baby boomers are still alive and trying like crazy to spend their money on themselves.

What will be the impact of this wealth transfer to this huge population bulge. Will they be even more hedonistic than now, lavishly spending the money on themselves? Will they become philanthropic, believing that they can secure a place in heaven by spending some of their money on others less fortunate? Will they merely accumulate more bucks in preparation for handing down an even greater largess to the smaller X gen that follows?

How the boomers deal with this mountain of dough will have enormous impact on the US and World economy over the next 10 years. Getting a handle on that trend and its effects may greatly impact your own personal fortune. What do you think the effect will be? How will this effect the use of promotional products?

ET - Phone Home - Aliens Potential New Market?

If the Canadians are right, intelligent life forms may be visiting earth right now.

On September 25, 2005, in a startling speech at the University of Toronto that caught the attention of mainstream newspapers and magazines, Paul Hellyer, Canada’s Defence Minister from 1963-67 under Nobel Peace Prize Laureate Prime Minister Lester Pearson, publicly stated: "UFOs, are as real as the airplanes that fly over your head."

Mr. Hellyer went on to say, "I'm so concerned about what the consequences might be of starting an intergalactic war, that I just think I had to say something."

Hellyer revealed, "The secrecy involved in all matters pertaining to the Roswell incident was unparalled. The classification was, from the outset, above top secret, so the vast majority of U.S. officials and politicians, let alone a mere allied minister of defence, were never in-the-loop."

Hellyer warned, "The United States military are preparing weapons which could be used against the aliens, and they could get us into an intergalactic war without us ever having any warning. He stated, "The Bush administration has finally agreed to let the military build a forward base on the moon, which will put them in a better position to keep track of the goings and comings of the visitors from space, and to shoot at them, if they so decide."

Marketing opportunities abound. If they are really intelligent, they will realize that the way to gain advantage in America is through the use of incentives. Sports Bottles come to mind.

Search Hint for Promotional Products

Most of you use ESP, Sage, or other industry search methods to find products. However, from what I understand, maybe 25% of the total searches are through internet search engines. Of course, Google gets most of that.

I have been playing with an idea for a while that I can now pass on to you. If you are unclear as to the nature of the product you are looking for, and you want to speed up the process a bit, use google "images."

For example, type "Imprinted Sports Bottles" into your Google Search tool. This will give you the normal list. California Springs should show up about 5th on the page. Now, at the top of the page you'll see the other choices of search methods. Click on "images." Now you will see all kinds of pictures of imprinted sports bottles as they are shown on various web pages. You will see a couple of ours on the first page, another on the second page, and so on.

Pretty neat, huh?

Tooooooo Many Choices

As mentioned earlier, we are doing some remodeling at the Kirk house. Storage in the garage, built ins for the den, all new kitchen, new sunroom on the back, exterior paint, carpet. No, it hasn't been such a great year! We refinanced. : )

Anyway, the point is this. The only really hard part of all this change was the monumental amount of choices. The decision for a kitchen faucet was more difficult and took longer than creating and introducing a new product line. Home depot must have 200 faucets alone. That doesn't count what you find on line. I'm exhausted just recalling it.

I can tell you, Mrs. Kirk was pretty stressed by all the choices, too. First, you review, then you select, then you change your mind, then ........no matter what your choice, you second guess yourself and suffer buyers remorse.

THE LESSON

Limit the choices you give your client. Do the culling for them. Bring them the best of the lot. Let them be the one to say, "I need to see it in red or bigger or with bells on." Let them be the one to say, "I don't like any of those ideas, what else do you have." I think you will be amazed by how frequently they will be very pleased to have their choices reduced to a reasonable number.

Prognostication - Future Gazing - Naval Contemplation

Call it what you will, from time-to-time I will provide my own special take on what the future holds. I promise not to rehash anybody else's stuff. This will all be original, and probably way off base. Here's the first one.

NOBODY WILL LEAVE THEIR HOUSE ANYMORE

According to Wired Magazine, Americans now live in twice as much square footage per person as the did 50 years ago. This last month saw the introduction of 4 new ways to watch TV. Movie attendance is down. Home delivery of Pizza and Chop Suey is up.

I've been in the bicycle industry for 34 years. Parents aren't buying bikes for kids anymore. They're buying electronic games.

My wife and I like to go out, just the two of us, every Friday night. Choices, even in LA, are: restaurant, movie, play. She says to me last Friday: "Why don't we just do on demand using our 85" TV with theatre equal surround sound. (I have been accused of exaggeration once or twice.) But, you can now buy a projector for $2500 that will pretty much cover your wall with fantastic clarity and depth. Sound systems for under $1000 are phenomenal. And you don't have to worry about cell phones going off or folks talking through the whole thing.

If the TV and the game console don't have it, the computer does. By two years from now, it will all be the same thing anyway.

SO! Question? How will folks never leaving their house effect our business.

$150 Per Hour Consultant - Free to First __ Who Call In

I won't bore you with the resume' of the consultants who are standing by ready to assist you for free. However, $150 per hour would be a cheap rate for either of these two fellows. There is no obligation, nor will either of these experienced sales and marketing types try to talk you into more hours on a paid basis. In fact, they will never ask you to pay a nickel for their advice.

You've no doubt guessed that these two marketing gurus are my partner, Terry Brown, and your's truly. We will be more than happy to talk about any aspect of your business or sales quandaries. We'll even pay for the call 800-245-3737 ext 223 for me and 222 for Terry.

You can judge my expertise for yourself by reviewing my writing. I can tell you that in 35 years in business I have not met a better salesman than Terry. He can also be very helpful in marketing, art, and some aspects of computer art. You know his work. Our catalog, web pages, and e-mail blasts are all fundamentally his.

Why would we give away our time? Just cause we like you!! Sure, maybe you'll buy a bottle or two from us someday.

Marketing Lesson 101

I know there is a marketing lesson here, but I can't quite figure out what it is. This sculpture sold for $23.8 Million. At auction, no less. I'm not some old fuddy duddy who doesn't appreciate modern art or things that are unusual. My favorite artists include Escher.

I know there are some outstanding marketers who are reading this blog. Help me out here. Why? If we can get the secret, maybe we can replicate it.

Does Google Know Who You Are?

Go ahead. Put your name in the Google search engine. Do you show up in the top ten? Top 50? Top 100? Now try my name, Randy Kirk. Do you think it would help your business to have your name at the top of the list in Google?

As important as it is today, I think it will be huge in the future. As the internet becomes more and more complex, you are going to want a "personal portal" where you can send folks that will get them to all of your activity. If you can say: "just Google my name" you have created that portal for free.

Well, not totally free. In order to have your name recognised by Google, your name needs to appear on the web. One of my friends has a name that is much more common than mine. Mike or Michael Williams. But if you Google his name, using either first name, he is in the top three. He has only one blog (a very good one), but he also paid for Google advertising in the right column for a while. Doesn't cost much, because no one is competing for that keyword.

The other aspect that isn't free is the time spent on the blog. However, if you have a website, you can put names on that. You can also get listed on association websites. If you send out PR releases for web news groups, and they print your PR release, it will help move your name up the list. You can also participate in forums. Note that one of the reasons my name is seen in the top listings is from participating in a forum.

Get busy. You may be shocked at how many others have your same name. Start building your very personal brand now. In 2006, I'll be reporting on a new aspect of communication and selling that will make this branding even more important.

Testimonials - Who? When? What? Where? How?

The last few weeks have seen quite a few testimonials from friends of this site. I've used some of them in an article a while back. Some are listed in the right column. And some will show up in the future. It is really hard to beat a testimonial for getting customers to get on board or stay on board.

If you go here you can read an article that is at least as good as what I'm going to say about testimonials below. But my post is shorter.

WHO?

Don't be bashful. Ask any existing customer for a favor. "Please help me. Would you mind writing a quick note about our relationship that I can share with prospects?"

WHEN?

Every day wouldn't be too often. The more of these you can amass, the more really good ones you can use for various purposes.

WHAT?

Sometimes you'll want to help the customer along somewhat with what you'd like them to say. Fast, courteous, creative, thinks outside the box. Make a list. Even create a few short sentences or paragraphs.

Where?

Use it in mailing pieces, on your website, in e-mails (even as part of your signature), as a handout when making a sales call or at a trade show.

How?

Make the collection of testimonials one more thing in your list of monthly goals. I want to generate $50,000 in volume, make 40 sales calls, send out 500 mailing pieces, and get 5 new testimonials.

Numbers Promotional Products Sales Professionals Should Know

Want to make $100,000 gross next year? Do you know what it would take to do that?

$667,000 in sales @ 30% average margin and 50-50 commission split is $100,000.

Therefore you need average sales of just $55,555 per month.

That would work out to about $2600 per day.

Of course, we all take vacations, holidays, sick days and such. Maybe, to be sure, we'll make it $3000 per day.

That is a really good way to look at it. But here is another way.

1. One major order per year $100,000 or more
2. Two really good orders per year $50,000 or more
3. 5 good orders per year of $20,000 or more - one every other month
4. 10 nice orders per year of $10,000 or more - one per month
5. 20 decent orders per year of $5000 or more - two per month
6. 50 ok orders of $2000 or more - less than one per week
7. 200 orders of $300 or more - less than one per day

That is barely more than 1 order per day. 290 per year.

Just thought you might like to know.

Consequences of Boring Correspondence

Time to send your customer list another mailing or e-mailing or faxing? It may be the time because:

A. You send one out at this time every month (week, quarter)
B. You haven't done one in a while, and you need the business
C. You've never done one and it seems like a good idea
D. The person on staff who usually does it is out, and you have to do it.

Whatever your reason for sending out a mass correspondence, even if it is an expected and highly anticipated piece, don't send it if its boring.

Don't Get Junked

Because what you are sending out is generally seen as a sales piece, even if like my blasts to you there is non-commercial content, you are always on the thin line of being discarded. If you aren't in the mood, or have nothing interesting to say, but you go ahead and send some lukewarm blah anyway, you have further tipped the scale with regard to your next piece. The second time is death. The third strike, you're out.

This can also be true even if your material is pretty smart and pithy, but too narrow to appeal to everyone on the list. You'll note that this blog moves around from things about selling to marketing to web sites to e-mails to even personal stuff. That is intentional. You might not be interested in the first post on the page, but when you scroll down, hopefully you'll find one or two articles that keep you coming back.

Make it Delightful

Conclusion. Everything you write to your customer should be written with one question in your mind: "Is this delightful?" Don't always count on your own stuff being great when there is so much material on the internet available for outstanding content.

P.S. If I write something really boring, please note in the comment section. : )

Sold Any California Springs Products Lately?

Business here at American Quality Products is actually pretty good for this time of year. However, we have capacity for a bit over 30,000 bottles per day, and right now we are only making about half that. You could make your customer, your family, and me very happy if you would write a nice 1000 bottle order today. It would be win-win-win!

If you have not yet visited our very, ultra, uber, cool website, you really should.