In Part 1 I shared what I learned in the 1st half of Joel Bauer’s 1 day intensive speaker event. Here I will be going through in more detail about his matrix. (The Money Matrix)
| Secure Attention | Credibility | Rapport | Self Effacing | Target Problem |
| Suggest there is a solution | Set Expectation | Pitch Builder (Revelation 1) |
Social Proof | Pitch Enhancer (Revelation 2) |
| Social Proof 2 | Revelation 3 | Social Proof 3 | Permission to Reveal | System Revelation |
| Benefits and Features | Gift Form Guarantee | Free Bonuses | Gift Form Completion | Call to Action |
What I gathered from it is that there is a sequence that one goes through from pre-framing, setting the mood, delivering the content and trying to secure the outcome.
You read this matrix from Left to right, top to bottom.
Secure Attention
It is necessary to engage the crowd and make them feel important. As a speaker you need to show that you have a high level of confidence and that you are at ease communicating one-on-one or even one- to- fifty or more.
Being modest (Self Effacing) helps to bring one down to earth. The audience like people that stand their ground and able to share their own story. This increases the speaker’s credibility and builds a rapport with the audience.
One way of securing attention without being physically present is through creating videos or webinars. You close the gap between the audience and the speaker by speaking the truth in your authentic voice and showing the proof ( evidence) – personal testimonials or figures or both.
Target Problem
There are a few questions which you can ask the audience based on the life plan.
Qn 1: When do you think you be able to retire?
Qn 2: How much $$ would you need for you to be able to retire comfortably?
Qn 3: How precisely would you be when you are considered retired?
Qn 4: Do you have a proven system which you follow?
Qn 5: Is there an immediate system which you can duplicate that will let you reach your goals?
Don’t bring up a problem unless you have a solution which is sustainable.
Wealth Formula
- Open Mindset
- Have the right mechanism
- Be open and have mentoring.
Joel gave an example of one of his students who shared her life story/ personal challenges. She made it after conquering her self restrictive believes which led to her failures.
Now the “good problem” that she has is she has more clients that she can handle.
Many people will invest in people who they can relate to.
Pre-frame – tell the story (Introduction)
Main body- Show/tell how the objection was overcome
Conclusion- Provide the solution that was used in the situation
- Rinse and repeat!!
Focus on your language of intention and choose your “powerful” words.
If the potential customer is skeptical about the price you need to break it down and desensitize the numbers.
Show that you can POTENTIALLY earn so much or get such and such benefit by investing in the system.
Joel showed the knock down method where a ridiculously high price was originally stated and then drastically slashed down to a figure that “seems” reasonable. This method may have worked before (10 yrs ago) but it is in my opinion too old school and certainly doesn’t seem like a “genuine” offer to me.
Social Proof
People are watching you and they need to KNOW that your life is going to change for the better now that you are taking action and investing heavily on yourself. Aim to over deliver to gain customers. This will WOW them and gain their trust and build up a relationship.
If you are showing a video there must be a transcript to cater to different learning styles. – Audio, Visual & Kinesthetic.
Set expectations – 3 words
Eat Move Think or Acknowledge Activate Action
What you attach to the meaning of the words will help set the stage. Set the pace and move at the speed of consumption.
Target the problem
The most common problem faced are
- Money ( not enough)
- Self imposed limitation
- Self (Holistic)
#1 no food, clothings or shelter and not being able to provide for self & family.
No health too.
#2 Fear – not being able to retire.
All these results in (Solution) Specialised education.
Power of testimonials
For a testimonial to have impact it has to be well presented. You need to be a walking billboard/ evidence that the product/ system works!! There must be accountability partners to see you from start to finish.
Ask the potential customer for permission to reveal so that you will not be insulting others when you show them the result / product. You Before & After comparison shots/ figures.
You need to dress well to be treated well.
Benefits and Features
Sell your thinking/ experience. Don’t give them a reason to say NO by offering a value proportion where the value of items presented outweighs the price.
Give a money back guarantee to allay fears and hold people accountable for themselves.
Offer free bonuses which are perceived as equal to or more then the actual system in value.
Some helpful words to use – Autograph and embrace instead of cost/ purchase as people are less resistant to hearing such words.
Make your form stand out by having it in landscape rather then portrait. ( this is if you are selling a system) Visuals are important in a form as it will make the prospect see the avalanche of opportunity which has been presented.
Make a value proposition . Ie; Put an X in a box even if you are not going to hand the form to me.
Work on the law on scarcity if you want people to be impulsive and sign up with you.