Category: Business

Should you cut prices during a recession?

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According to a survey by the National Federation of Independent Business, nearly 30% of small business owners have lowered their prices.

When setting your own prices, consider these ideas:

>> Be flexible – offer a wide variety of pricing options to win over and keep risk-averse customers.

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>> Target customers when they have the most cash. The first week of the month after shoppers have received their pay checks is usually the best time.

Source: Evans, Teri, “Slash & Earn,” BusinessWeek SmallBiz.

4 Reasons Why Sales Stall

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If your prospect says “I want to think it over,” it’s likely for one of these 4 reasons:

1) He’s not convinced he wants what you are offering.

2) The prospect has not been completely honest with you or doesn’t want to reveal the real reason he’s not buying.

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4) The prospect is afraid he may be overlooking something.

Source: Harry Browne, “The Secret of Selling Anything”

A Quick Tip For Building Credibility

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If you want to gain credibility with your prospects, participate in the markets you serve.

For example, I knew of a fellow who sold welding equipment to welders. To relate better to his prospects and make them more comfortable with him, he took courses at night and became a certified welder.
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Similarly, if you sell million-dollar life insurance policies, it’s difficult to convince someone else to buy a policy unless you own one yourself.

The Power Of Print

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According to a brochure from Appleton Coated, a paper company:

1) Consumers receiving a printed catalog are 2X more likely to buy online than consumers who do not receive a catalog.

2) 67% of online action is driven by offline messages.

All your information would definitely be kept cheapest cialis confidential. But india viagra generic these are some of the predispositions an individual must have come across in his life. Mild sciatica symptoms will often subside on its own but don’t ignore that there is no treatment to it where in some try really hard to overcome the issue but fail levitra cheap online to get over it. Many people, when they find there is something wrong with the endocrine system, which is directly affected by the kidneys. cialis tablets in india 3) 80% of Americans read or skim direct mail, and 38% find direct mail interesting.

4) 75% of consumers say they have made a purchase as a result of direct mail.

5) Consumers rate direct mail as 3.9 on a scale of 1 to 5 for the acceptability of various communications channels above all other channels.

Writing A Positioning Statement

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The purpose of a Positioning Statement is to create a short message that people will remember. If you want to get your message across, it has to be memorable.

The first sentence tells people what your service is and how they will benefit from it. The second sentence tells how your service is different from that of other firms.

The formula goes like this: [Name of firm] is a [category] firm that helps [primary clients] reach [primary benefits]. Unlike other [category] firms, [name of firm] specializes in [primary difference].

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Using this simple formula, you can get at the essential description of what your firm does that’s different from other firms, and make your message more memorable.

Source: PSMJ newsletter

A Q&A on developing relationships in business.

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This was asked in LinkedIn and I gave a shot with my answer. Hopefully you can gain some ideas:

Q: What does a business do while developing relationships to close business, in the short term? This is a topic no one wants to really addresses openly. I understand that there is a balance and that it takes time to harvest time spent to grow a business. Any thoughts?

A: I’m not sure if I can answer your question accurately, but I’ll try. By nature, most people won’t respond to a company or its staff unless it’s absolutely necessary, so the staff must do some things to maintain their interest or get them interactive, like:

1) Hold a lucky draw
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3) Get feedback to a question
4) Run a “no-selling” weekly newsletter
5) Conduct a webinar
6) Invite blog comments

If you can do one of these things twice a week, by next month or 2 they should have some expectation of the products/services to come.

Overcoming Price Resistance

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When selling against a lower-priced competitor, communicate the price difference—your extra cost—in the smallest unit of measure possible.

Example: You sell an annual service agreement covering home appliances for $395, and a competitor charges $295.

Customers like you better, but are having trouble with your fee being $100 higher.

What they don’t see is that $100 divided by 365 is only 27.4 cents a day.
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You need to focus on that small price differential in your selling.

Point out that they are getting superior service—and greater peace of mind—for just 27 cents a day…”less than the price of a first-class postage stamp”.

Source: The Selling Advantage, Special Issue, 10/6/07, p. 2

4 Tips For Marketing In A Recession

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Dozens of my readers are complaining to me of declining response rates, a downturn in business, and the weak economy. “Our marketing isn’t pulling like it used to,” they complain. “What can I do?” Here’s what I have found works:

1. Take massive action. Figure out what you think you need to do to generate the level of leads and orders you need. Then do twice that amount.

2. Don’t rely on only one promotional vehicle, like direct mail or cold calling. Do three, four, even five things: send out mailings; advertise; regularly e-mail your list; write an article; give a speech.

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4. Test different offers, ideas, copy, formats, and media to see which work best. Roll out with those promotions that work. Scratch the others. If they don’t do well in a small test, mailing more won’t help.

For more advice on marketing in a recession, see Bob Bly’s book Fool-Proof Marketing, published by John Wiley & Sons.

Ben crashed a Lambo…then made $1K.

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1K Commission System

If you haven’t seen this new video, you need to check this out!

You’ll see how Ben Hulme developed the 1K Commission System from a hospital bed!
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8 simple rules for repeat sales

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On his blog, sales guru Mike Sigers gave the following tips for generating repeat sales from your customers:

1. Give them what they asked for—close doesn’t count, exact does—not once, but every time.

2. Deliver quality—don’t bother delivering inferior product.

3. Don’t oversell them—convincing them to take a chance on selling two year’s worth of product in one year’s time is the fast lane to being a one-time supplier.

4. Become a valued team member—go above and beyond or don’t go at all.
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5. Keep them informed—let them know about delays, pricing issues, and potential problems well in advance of the rumor mongers (your competition).

6. Tell the truth—don’t become overly enthusiastic and stretch the truth, even if your honesty costs you the sale.

7. Show appreciation for past sales—e.g., nice golf courses, 2-hour lunches, and leisurely steak dinners.

8. Show interest—either you invest your time thinking about their company and how you can help them—or your competitor will.

4 steps to increasing customer value

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1 – Call some of your customers …take 30 minutes a day, 5 days a week to call your customers and say hi.

2 – Leave personal voice mails for your customers…you can leave messages on their mobile phone using slydial.

3 – Send out physical thank-you’s…send a thank-you letter after the first purchase, and another the next month.
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4 – Make yourself strategically available at ‘live’ events…have special times you will be available at the bar 1 or 2 nights of a multi-day training event. Do lunch or dinner with your most profitable clients.

Source: TNT Marketing, 11/10, p. 2.

7 Steps To A Winning Advertising Strategy

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1. Plant Your Flag! Ask yourself, “What is the one great thing I can say about my product that none of my competitors can say about theirs?”

2. Dig Your Trench! Ask yourself, “How can I find a place for my product in my customer’s mind by relating it to what’s already in there?”

3. Take Dead Aim! Ask yourself, “What does my best prospect already believe that will make her want to buy my product without persuasion?”

4. Take Your Best Shot! Ask yourself, “What is the most I can afford to give away to get a new customer?”
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5. Take a Risk! Ask yourself, “How can I make buying from me as easy, safe, and convenient as possible?”

6. Make an Impact! Ask yourself, “How can I break through the clutter?”

7. Make it Count! Ask yourself, “How can I move my customer from awareness to action?”

Double Your Networking Power

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If you want to leave an indelible impression on somebody, ask for 2 business cards—one for yourself, and one to pass on to somebody else. You’ll always be remembered as the person who asked for an extra business card to pass along.

Also, wear a sports jacket with 2 pockets: one for the business cards that you collect, and one to hold your business cards to hand out to others.
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The New Rules Of Selling

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1 – Sell what the customer desires or requires, not what you want them to buy.

2 – Get personal; collect as much information about your customer as possible and use it.

3 – Become a friend, because people will buy from their friends but don’t always trust salespeople.

4 – Concentrate on building strong relationships.

5 – Find things you and your customer have in common, and build on those similarities.
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6 – Gain the trust of your customers.

7 – Have a great time, and have a great sense of humor.

8 – Don’t even look like you’re trying to sell.

Source: Business Brief

Anthony Robbins, Oprah, Dr. Phil, and YOU

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Looking for some great ways to get exposure for your work and website?

Here’s two:

1) Position yourself as an expert.
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SelfGrowth.com, the #1 Self Improvement website in the world, offers a promotional tool that will enable you to use both of these methods, and more. And the best part? It’s *FREE*!

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Who else has an Expert Page on SelfGrowth.com? Dr. Phil McGraw, Oprah Winfrey, Anthony Robbins and I have all created our own!

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Dan Kennedy reveals a lifetime of secrets.

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Are you a Dan Kennedy fan? I respect him a lot, Big Time.

Dan Kennedy, over 30 years, has directly influenced and developed 250+ millionaires, consulted for billion-dollar companies and commands $10,000+ per day fees.

Over the years, Dan has held many powerful seminars and created industry gold-standard courses including his “Info Riches” (respected as one of the top authority courses on information marketing success), his Copywriting Bootcamp (viewed as a #1 training for copywriting) and many more…

But NONE of those seminars got as much attention as his “Lifetime Of Secrets” event.

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Lifetime Of Secrets

Lifetime Of Secrets is the ultimate business development and fast-growth marketing strategy brain dump.

Over 34 hours, Dan covered, recorded and transcribed his entire lifetime of entrepreneurial experience…embarrassing failures, horribly expensive lessons learned, mind-boggling successes, incredibly powerful strategies, examples, examples and more examples.

Dan did something he had NOT done for any one client, NEVER done for an audience, NEVER done in his books or courses. He painstakingly took the audience through his entire lifetime of experience, his entire arsenal of strategies, lessons learned from his amazing collection of clients as well as his own businesses. His biggest mistakes. What he would do differently if he had it to do over again. The key principles he’s stuck to, that have served him best. Exactly how he has directed his clients to explosive growth in their businesses…like from $200,000.00 to $6 Million in 14 months, from $1-Million to $300 Million in 8 years, from $260,000.00 to $4 Million in one year, etc.

Unlike many of his home study courses, this one isn’t specific to “information marketing” or “direct marketing” or “copywriting” or “consulting/coaching”.

Dan went through every bit of useful strategy and costly-mistake-to-avoid tactic from his decades of experience that will benefit ANY business builder.
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After the Lifetime of Secrets session (when it was a ‘live’ seminar), some of Dan’s clients persuaded Dan to hold a follow-up workshop for the Lifetime of Secrets Bootcamp attendees.

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This special package is a TEMPORARY offer and will be taken down by next week.

Now you can turn back the clock and relive this close-door event that Mr. Kennedy once ran for his clients and partners, considered the most important Dan Kennedy seminar ever held…

Millionaire lessons from a Deadbeat Dad?

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This is an inspiring story about one of my close friends who used to live off $5 bucks a week!

I really don’t know what else to say except “is this really possible?”

The best part is this just makes so much sense and when he talked about the way people get you to “buy into” stuff even when you know you’re being lied to…
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I got MAD! VERY MAD!!!

Read Joshua’s Kindle book now. It’s nothing short of mind-blowing.

The biggest direct response marketing manual yet…

Nelson Tan Leave a comment

Ultimate Information Entrepreneur Super Manual

How would you like to leaf through a digital copy of Dan Kennedy’s 659-page Ultimate Information Entrepreneur Super Manual?

Dan’s Manual weighs in at 26.3MB (PDF version), 659 pages and won “The Book of the Year” award in the mail-order category from the North American Bookdealers Association.

T. Harv Eker endorses it and, for years, sold it to his attendees at every one of his seminars.

This is not a “pretty” book…

It’s essentially Dan’s “braindump” and notes on all things marketing: informercial, direct mail, direct response, ad copy, newspaper and magazine advertising, how to maximize customer lists…

Woven in there are also a lot of his own numbers from campaigns he ran for himself and clients and lots of case studies and “success stories”, again, with numbers to give you an idea of how various ads and ideas converted.

Mixed in with all this are dozens and dozens and dozens of photocopied ads complimented with Dan’s summary notes for understanding why the ad works (or DOESN’T work).
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Page 103 starts “Success Stories to Learn From” and is just what the title claims.

Page 197 references 6 different ads…what they netted, how they performed and more.

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Many of the ads are from Dan’s early days pre-Internet. But copywriting, direct response marketing, advertising, customer-list monetization, lead conversion etc. are timeless.

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Grab the Ultimate Information Entrepreneur Super Manual now and you’ll get the 12-audio “Master of Marketing” course as a free gift.

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Super Simple Blueprint For Time Management

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Time Management On Crack

Whatever business you are in, there are 4 levels of productivity you need to conquer. Explained in 4 pages. So you can quickly look at one page, get something different to try in your everyday business, and once you’ve mastered that, whip open the book and try the next level.

But becoming more productive isn’t enough, you need tasks to DO with that productivity. So instead of trying to write copy, create videos, market those videos, create blog posts, write follow-ups, or write articles without a plan, you use one of the included checklists in “Time Management On Crack” and knock it out in half the time, or faster!
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Many Internet Marketing products are sold from a “make money” angle, but time is just as much a precious commodity. If you know how to maximize your time doing the right kind of work to fulfill the most important of priorities, you get more money (for sure), and also free up more time to do the fun stuff like go on trips with your family.

Here’s the “Time Management On Crack” report that will make all that possible for you.

3 ways to build credibility

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Here are 3 things you can give—or give up—to others to build credibility with them:

1. Material wealth: For instance, giving a customer a full refund—even when you don’t legally have to.

2. Time and energy: Giving clients guidance, assistance, or advice when you are not “on the clock” or charging them for it.
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3. Opportunity: Bypassing an opportunity can help you build credibility. Example: the consultant who turns down a lucrative offer from a big potential client because it represents a conflict of interest with a smaller, less lucrative existing client.

Source: Wanek, Tom, “Currencies That Buy Credibility” (WA Press, 2009).