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This presentation tells the story of how taking a self-published expensive book to a "legitimate" publisher resulted in the loss of a consulting and seminar business. It outlines the revenue impact with two examples and concludes with advice to build, nurture and protect your contact list. Originally published by Jon Turino Marketing + Connections. Recently delivered at Portland Connect 7-Year Anniversary event.
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KEEPING CONTROL OF YOUR CONTACTS
Jon TurinoFinancial Representative503-705-6562 [email protected]/jon.turino
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Once Upon A Time…
Automatic Test Equipment
System
Easy to test PCB assembly
Hard to test PCB assembly
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I Wrote A Book…
Seventy Seven Pages Double spaced Hand drawn diagrams
Beautiful Walnut Cover Self Published Price: $95
Design for Testability
Jon Turino
Logical SolutionsIncorporated
4
And I Sold Some Books…
$95
Actually… a lot of books!
Ad in Electronic Test Magazine = $1,800
Desig
n for
Testa
bility
Jon T
urino
Logic
al
Solut
ions
Incor
porated
And Became a Seminar Leader…
For hundreds of electronics companies world-wide for many years…
The “Pope” of
Testability!
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I Took the Book Public…
And killed the seminar and consulting business…
$39.95
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And Look What Happened…
Self Published @ $95 Van Nostrand Reinhold @ $39.95
Buyer had a real problem Buyer might have a real problem
Profit per book = $80 Profit per book = $6
3 year sales > 1000 books 3 year sales > 3000 books
$80,000 in book sales revenue
$18,000 in book sales revenue
Seminar revenue steady at > $200,000 per year
Seminar revenue declined rapidly to < $50,000 per year
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So WHY Did That Happen?
• Book customers had a problem either way• Problem more severe for $95 customers
• WHO was buying the $39.95 book?• Had the Design for Testability market dried up?
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So On To Another Topic…
Early 1991$150
Late 1992$29.95
And the same thing happened again … only faster!
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So WHY Did That Happen?
• Book customers had a problem either way• Problem more severe for $150 customers
• WHO was buying the $29.95 book?• Had the Concurrent Engineering market dried up?
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A Total Contact Disconnect! It was no longer possible to
determine WHO was buying the books Person with really painful problem? Person mildly – or even very –
interested?
There was no one to call to inquire about the possibility of doing a seminar or some consulting work!
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The Moral of the Story…
Your list of contacts is your most important asset. Build it Nurture it Safeguard it
If you lose the direct connection to your prospects and customers, you will lose your business!
