I regularly receive Bob Bly’s newsletter which always has good ideas from this ace American copywriter. I thought one of his most recent letters was worth sharing. You’ll see it in its entirety below.
Dear Direct Response Letter Subscriber:
Not everything you or anyone else does is going to be a winner 100% of the time.
Even Warren Buffett, thought of by many as the most successful stock investor, can go through a bad patch.
For instance, according to Investopedia (10/16/19): “Since the Great Bull started back on March 9, 2009, Berkshire Hathaway B stock is up a notable +269% through the recent ending 3rd quarter. Over the same time period, the S&P 500 Index is up +370%.”
That means Buffett’s returns for the most recent decade underperformed the market!
Now, in some activities, the chances of failure are pretty small, and you succeed most of the time.
For instance, if you are a tree specialist, there are probably not too many times you come across a tree that you can’t cut down. Your success rate is at or virtually 100%.
On the other hand, if you are a competitive chess player, every time you sit down at that board, the outcome is uncertain, and so you don’t know whether you are going to win or lose.
Stock investing is one of the activities for which the outcome is uncertain and far from guaranteed.
Marketing in general and copywriting in particular are two others.
So as a copywriter, what do I do to minimize the number of failures I have as well as recover from those I do have?
Here are 3 ideas that have worked well for me:
#1–I only take on projects that are comfortably in my wheelhouse and that I feel confident I can do well … well enough that I can write a potential winner, albeit not a guaranteed winner. Result: fewer losers, more winners.
#2–I charge reasonable prices. If your price is so high the client feels it is exorbitant or extortion, and your copy doesn’t perform, they will never hire you again. And you shouldn’t overcharge anyway.
#3–Set a realistic expectation on the part of the client. For instance, my standard project agreement says: “There are many factors in your marketing — product, market, price, list, demand, consumer preferences, competition, major events — Bob cannot control. Therefore, he does not promise and cannot guarantee specific results.”
Sincerely,
Bob Bly
Copywriter / Consultant
31 Cheyenne Dr.
Montville, NJ 07045
Phone 973-263-0562
Fax 973-263-0613
www.bly.com
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