Jay Abraham Case Study #80
From: Nick Di Mondo
To: Jay Abraham
Sent: Wednesday, August 14, 2002 9:42 AM
Hi Jay,
Let me tell you about a small, but very profitable way, that I adopted your marketing techniques in my practice. I am a partner in a two lawyer firm in the greater Toronto area. As part of my practice I act for clients in the purchase and sale of residential homes.
Often when clients are buying or selling a home we used to talk to them about also preparing their Wills and although our clients expressed an interest they were not motivated enough to follow through to actually have their Wills prepared.
After reading and listening to your materials specifically the chapter in your book entitled "Would you like the left shoe, too?" I decided to create a service add on for every client that bought or sold a house with us.
First I labeled the service, for this example I'll call it the "Wills at Home" program [I actually use a different name in my firm] then at our first meeting with our client and after we discuss our clients real estate transaction I explain our Wills at Home process and present the client with a one page sheet that sets out that when a client buys, sells or mortgages a home with us and they decide to have their Wills prepared and signed at the same meeting that they come into sign their real estate transaction then we will have eliminated at least 1 ½ to 2 hours of our time.
This additional time would have resulted in meeting with our clients on another separate occasion to specifically discuss their Wills and an additional meeting to sign their Wills. I further explain that signing their Wills on the same day as their real estate transaction results in a reduced cost for a total package of Wills and 2 different types of Powers of Attorney (one for financial and one for their health care) that I offer them.
I then set out on the same one page the cost of preparing their Wills and Powers of Attorney if they came to see us on a separate occasion vs. the cost of preparing them at the time of their real estate transaction. For example in my firm the cost of a husband and wife wills and powers of attorney would amount to about $800.00 - I then reduce the total cost by $250.00 [and I show and circle this savings on the sheet of paper] the result is that the client pays $550.00 for standard Wills and Powers of Attorney and the client is motivated to get them done.
I also have a space on the paper where the client signs to agree to these terms and to pay these additional monies on the same date that their real estate transaction closes.
This process is win-win as our clients are motivated and thankful to us for finally signing these important documents. For my firm it adds about $550.00 for every couple that agrees to add on the service. Since we implemented the service a couple of years ago we have averaged an additional income of about $7,000 annually with over $20,000 in additional income so far that we would never have realized with very little further effort on our part. This Wills program is ongoing and will continue to be profitable for many years to come.
Thanks Jay. I hope this helps to show that your marketing techniques work in a very small and profitable way.
Sincerely
Nick Di Mondo