The last episode I did was standing here as well… I had two big thoughts on my mind so I wanted to do another one here.
About two or three weeks ago I hosted an event called OfferMind.
… Which is awesome!
It was a screaming success and it was a lot of fun. We'll continue to sell that program which is exciting.
It was interesting because the ONE skillset you guys can go learn that will massively improve your wallet is MARKETING.
The better marketer you are, the less amazing at sales you have to be.
When I do my events, I like to teach A LOT. We went from 9:00 AM to 9:00 PM, and we only took a lunch and a dinner break.
One of the principles that I like to talk about the most, is this whole concept of sales psychology.
One of the things that made the events so unique is: I don't really want to teach people the newest thing on Facebook.
What I do care about is, what is true marketing?
HINT HINT: We'll probably gonna have an MLM event soon called Hack MLM Live.
WHY DID PEOPLE LIKE OFFERMIND?
One of the reasons why people like OfferMind events so much is that I have an obsession with marketing history.
I actually wanted to be a 10th-grade history teacher for a long time. I love studying American history and world history.
I'm 31 now and what it's turned into is an obsession with marketing history.
At the event, I said to everybody, “The purpose of this event is for me to remove the Internet. I wanna remove today's modern distribution channels”.
Let's take those away…. What's that to do with MLM?
Just hold on tight and I'll show you.
https://youtu.be/6Xn5vTcQxD0
Let's go back to 200 years ago… To the time when the printing press was starting to come around in 1750. The printing press came around and suddenly we could have duplicatable messages that they were sending out... That's a BIG deal.
Before that, you had to one-on-one to tell everybody.
I told everybody at the event, “Let's remove everything to do with the Internet, learn what marketers in that time used to go do, study their patterns and then add the Internet.”
That is powerful.
Otherwise, the Internet can be a distraction.
We think that posting on social media is marketing… IT’S NOT… It's posting on social media!
The purpose of the event was to teach what marketing actually is in the context of old school times and then add in powerful Internet principles.
It was very, very successful.
THE PSYCHOLOGY BEHIND THE REFUND
One of the things that people like the most, is studying this whole bio-psychology.
I know I've talked about this a little bit in the past, but there's a certain key point to this.
QUESTION: Have you had anybody refund on you?
You do the whole phone or hotel meeting or you three-way him, or you spend time with that individual, and you can tell they're not all about it.
Vice versa. There are other people where you show them the product and they're like, "This is the best thing since sliced bread, I love the product."
Imagine you're talking to somebody and they're not loving it. You walk away, and you got the sale but it's kind of shaky.
And you're walking away and let's say you got them on auto shipper. You walk away from him, and that dreaded text comes to you (cause they're not confident enough to actually call you) and they say, "Stephen, we were talking about this and I know I'm within my three day refund period and we just really want the money back."
And you're like, "Ugh! Oh my gosh."
We have ALL had that experience. Don't act like you haven't. If you haven't, you need to sell harder.
Refunds are normal. There are very famous marketers that believe if they DON’T have a 10% refund rate, they’re not marketing hard enough
Refunds are normal.
DOPAMINE
Let's say you have that experience… Why does that happen?
There's a principle that I wanna walk you guys through on why that happens.
There are four hormones in the brain that causes us to feel good. They're naturally produced by the brain.
The first chemical is Dopamine.
Dopamine is the chemical of DISTRACTION. We love to get distracted.
It is statistically proven that you check your phone 72 times a day. WHY? Dopamine.
Mark Zuckerberg said on film to Congress, "Yes, we brought in addiction specialists to make Facebook as addicting as possible."
I'm not here to argue whether or not that's right or wrong. That's the statement. They engineered addiction into it.
Dopamine is the easiest chemical for our brains to produce out of the four hormones.
OXYTOCIN
The next chemical is Oxytocin.
Oxytocin is the chemical of connection. Of the four, it's the one that we want the most.
I need a connection. I need to connect with people.
Seth Godin teaches that right now, there's never been a time in history where we have de-tribed so much. We are de-tribing as a society.
But funny enough, it's the chemical we seek the MOST.
We're not relying on each other like we used to, but we desperately need to feel a connection, which is caused by the chemical oxytocin.
We will give up our:
… In order to get a connection, even if it's fake connection.
We need connection as a species.
SEROTONIN
The next chemical is Serotonin.
Serotonin is a chemical of status. I don't mean like, "I'm better than you." That's not what it is.
Status meaning validation. Meaning, I'm okay in my eyes, and I'm okay in those people's eyes over there too.
It's one of the driving forces we have as entrepreneurs.
I love this stuff man, I really go into this.
ENDORPHINS
The next chemical is Endorphins.
Endorphins are the chemical of work reward.
Let's say I'm gonna go jog around a track. The first three or four laps are gonna suck… They always do.
But what happens once you get past that first mile is you get the runner's high. That's a work reward. That's endorphins.
It's not dopamine, it's not oxytocin, it's not serotonin, it's endorphins.
Endorphins come as a response to work reward. It comes in as the response of pain… The pain of growth. I might feel some growing pains as I'm sprinting around the track, but I'll start to feel some endorphins feel goods and it makes me keep going.
WHY DO PEOPLE REFUND
There are different ways to cause these chemicals inside of the buying process.
And there's something I've discovered and learned how to do quite well...
