Interview with Marcus Lemonis Star of The Profit
2016/04/14 12:38 PM
Marcus Lemonis, The Profit, Sales, Marketing, Partnerships
Marcus Lemonis, star of The Profit, talks candidly to me about sales, marketing, and partnerships.
I had the pleasure of speaking with Marcus Lemonis, star of The Profit and got the skinny on his process.
I seriously wanted to be his friend after we spoke…….. not sure he has time for new friends. :O(.
Marcus reveals how he learns from all his businesses and then can turn around and use that in other businesses to help them grow.
What I love about him is that no matter how wealthy he is, or how successful you may become, he remains grounded and realistic about the ups and down of business and talks about how you may be sweeping the floor one day and flying first class the next.
He also shares his special pricing process and how to price your product for success. Pricing for profit is one of the key components to running a successful business and Marcus is a master as diving into that when he is in the discovery phase with a new brand.
We dive into the many layers of developing a product and getting it to market. What I love about Marcus is how real he is and how his method works. He knows when the client is BS’ing him and he goes at it head on to protect himself and his brand, while at the same times, trying to show the client that they are making a terrible mistake that will ruin their business. He does it with a firm hand but there is still a finesse to his process that I admire.
Marcus talks candidly about how he helps his brands create new products and drives that part of the business which can be very intense. At the same time, the pressure to keep the businesses alive, and the stuff he has to endure with some partners can make the path he walks a bit shaky at times.
He is candid and funny…….. I think you’ll want to be his friend after you listen too!
Follow Marcus on Facebook
Follow Marcus on Twitter
Follow The Profit
There are 5 comments
I am from South Africa. I love his show. As a Management Consultant with a passion for turning around failing businesses I resonate with this man and his methods. He is truly a divine intervention.
-
-
Nirkash says:
He will make a great friend and Mentor.
-
Leave a comment
Want to express your opinion?
Leave a reply!
Leave a Reply
Testimonials
I’m already getting orders from the email with the updated pricing that I just sent to my current st…
Makeupjunkiebags.com
Follow me on Facebook
I wanted to share that I have a free facebook group for product based designers that I'd love you to join. I offer a ton of unsolicited advice and answer any questions you have about sales, marketing, getting into magazines and gifting celebrities!
Want to learn more? Drop me a comment below.
#sarahshawconsulting #growthfordesigners #FbGroup #Entrepreneur #celebrities #business #fashion #accessories #GiftDesigners #celebrities
Building an email list can be tough, I totally agree. But an email list is just as important as social media in my opinion. Social media is fleeting. Your customer might not see your post flash by, the FB or Instagram algorithm changes all the time so you never really know if anyone is seeing your posts (as much as you hope at least), and unless they purchase, it’s hard to tell if it is driving traffic or not.
When I started my handbag line, the internet was just getting started, and people were just beginning to get online for the first time and the biggest thing since sliced bread was www.match.com.
Note the www…… everyone used that back then so you’d KNOW it was a website. LOL.
And to get on the website, even just to learn more about it, you needed an email address to get past their “paywall”. The Paywall was a pop up of sorts that asked for your name and email in order to “grant” you access to see what was behind the curtain. They built a list of millions in a few short weeks and that was more valuable than anyone just “knowing” about their company because they could market to them incessentanly.
Daily. And I mean sometimes multiple times a day. I’d never seen anything like this.
They were the first company that I knew of who “collected” emails, then turned around and marketed to you to get you to sign up for their services. And they were relentless……
I’m not saying you need to send emails daily, or emails multiple times a day, but if you don’t email your list at least weekly, they will forget about you and end up buying something similar chez someone else who is sending them emails.
So Why are Pop ups so important? Pop ups are a way to collect emails via your own “Paywall” and continue to market to potentially interested customers. If they take the time to sign up (first baby step) then they are showing you that they are on the first step of the staircase and want to keep walking up. It’s your job to keep enticing them to the top! AKA buy something.
Step 1: Sign up with a content management system like Active Campaign, Mailchimp, Klayvio or whichever one you like best. I like Active Campaign and have been using it for over 10 years. Some people choose to use the forms that come with these programs and I have too in various situations, but I also recommend Privy if you use Shopify, and Ninja Pops if you use Wordpress. They can easily be installed and connected to these CMS systems.
Step 2: The first and easiest way to collect emails is to have a homepage pop up with an offer for a % off the first order. That is a way to ‘collect” emails and give something in return. It’s the first step in building rapport with your potential customers. It’s like saying, let’s be friends, I’ll give you something you want, and you give me something I want, your email.
Step 3: Make sure you have an automation set up in the CMS system. This is an automated email series that will be sent to anyone who gives you their email address on your pop up. I call it the Hello Series. The idea of this series is to again, build rapport, and tell the customer a bit about you and your company over a 2 week period. This series has nothing to do with your regular email marketing emails. This is a sole and separate email series to build rapport so just set it and forget it. Yes customers will probably get some of these on the same days as other marketing emails but just don’t worry about it.
This is how it works:
a: The first email to go out immediately is the one with the coupon code they just signed up for. Add something about your brand and photos of your products linking to your website.
b: The second one goes out the next day and asks them if they had a chance to use the coupon yet, and then tells them to whitelist your email so they don’t miss your promotions and special offers for people on your list. Always have images of products that link to your website.
c: The third email goes 4 days later and in this one I like to tell a story about how I got started with the business. Add images and links here too.
d: The fourth email shares something cool about your business. Could be some nice stores you are in, a press placement, a celebrity who has your stuff or perhaps posted about it on Instagram. It can also be a tutorial about how to use your products, or a blog post you wrote on a topic they’d be interested in. Share something that will make them feel happy for you, and encourage them to hang with you.
e: The fifth and final email in this sequence encourages them to follow you on social media. I like to entice them with “doing” something in exchange for a gift. Could be something like “post your photo using or wearing our product, and be entered in our monthly drawing for a free X”.
Step 4: Now that you have collected more emails with a pop up, your ongoing marketing efforts will start to pay off faster. As the list continues to build, you’ll have more people to market to, invite to events you do, and share your good news with. Hopefully they will become loyal customers, share your site with friends, and continue to be an active part of your social media channels. Keep sending emails weekly ( at least) to your list so keep them active and engaged. I’m sure you’ll see a big difference.
If you want ideas to help you fill in the blanks about the above, drop me a comment below and I’ll be happy to help out.
Anna shares a few of her start up mishaps, her successes, and how important her trips to visit her factories can be.
Want to learn more? Drop me a comment below.
#sarahshawconsulting #Podcast #annalecat #celebrities #business #fashion #apparel #boutiques #magazines #getastreetsmartmba
Have you ever seen the product you’d dreamed about developing in stores and on TV and thought, “Why didn’t I do that?” The reason is, most likely, that you didn’t have the information and connections to do it.
Want to learn more? Drop me a comment below.
#sarahshawconsulting #lisavogt #everbetter #interview #podcast #entrepreneur #celebrities #business #fashion #celebrities #press
Shows are cancelled: Buyers still need new products. Book a call with me today and learn how to get through this crisis. Want to learn more? Drop me a comment below.
#sarahshawconsulting #buyers #buyer #clothing #business #fashion #apparel #boutiques #consultation #dropshipping #ecommerce #dropship #dropshippingtips #reseller #boutique #accessories
Love him. Love love love the show. It’s like an entrepreneur classroom. Great interview. I believe that I am his biggest fan!
Thank you!