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The Great Formula#

The Great Formula is a concept I first came across in the book "The Irresistible Offer" by Mark Joyner. (you can find my book notes here)

It perfectly describes and simplifies the online marketing process of any highly-functional business:

Mark Joyner’s "The Great Formula"#

Here it is:

  • Step 1: Create The Irresistible Offer (TIO)
  • Step 2: Present it to a Thirsty Crowd
  • Step 3: Sell them a Second Glass

Step 1: Create The Irresistible Offer#

The Irresistible Offer is an identity-building offer central to a product, service, or company where the believable return on investment is communicated so clearly and efficiently that it’s immediately apparent you’d have to be a fool to pass it up.

Step 2: Present It to a Thirsty Crowd#

It doesn’t matter how great your product is - if you pitch it to the wrong market you won’t even make a paltry dent in your sales goals.

If someone were walking through the desert and you were the only one selling water, would it be easy to make the sale?

Of course it would.

In fact, your water wouldn’t even have to be all that good.

Now, combine that thirst with the irresistible offer, and what do you have?

Nothing short of sales fireworks, my friend.

Step 3: Sell Them A Second Glass#

What Mark describes in this part can be summarized as developing and creating upgrades and backend offers.

Later, when Mark realized how fundamental his "great formula" was, he created a new book just around this concept. (find my book notes here)

In that book he mentioned another important concept I first came across in material from Jay Abraham:

The Only Three Ways To Increase The Revenue Of Any Business#

There are three, and only three, ways to increase the revenue of any business endeavor:

  1. Get your message in front of more eyeballs. (find & sell to new clients)
  2. Get more money per eyeball. (higher transactions per client)
  3. Sell more products to your existing customers on the back end. (more transactions / higher frequency per client)

Here's the bottom line: (this applies to any business that isn't selling a simple commodity)

Usually, it's much harder to find new clients for your business than it is to make new, additional offers to your existing clients.

Or, as Dan S. Kennedy put it so eloquently:

A buyer is a buyer is a buyer.