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Add You - 3 Marketing Myths that are Stopping your Success!
Part Two of Cash to Cash Cycle SeriesNext: SalesWe’ve already found $250,000…so let’s find another $250,000…Laying the FoundationLast week, we raised the question: what would your business do with $1,000,000? To lay the foundation we introduced inventory as the first of four areas that will lead toward our million dollar goal. And you saw exactly how to achieve the first $250,000 in cash savings by avoiding delays with an increase in velocity, as well as an increase in discipline and competency. But how exactly? With time – as you saw with inventor
Myth 3: Everybody Needs My Product or Service
Unfortunately, most people don't believe that they do need a particular service of product. Obviously with items such as Ipods - your teenager will try and tell you they really, really, really need one, but this is peer pressure that has been built up with millions of dollars. Much of this was spent on research into what there market wanted - and they got it right!
If you believe this myth then you also believe that you can succeed without doing much marketing or selling
Affiliate Marketing. It’s a term we may have heard or read about often. Affiliate Marketing is arguably the quickest and easiest way to make money online. Many people have made a full time career out of affiliate marketing. Some make a six figure income, and others have become millionaires. Affiliate marketing, simply put, is marketing the products of another person or company. The affiliate must market these products at his or her own expense; however, the advantage to the affiliate is that he or she receives a portion of the profits as commission. Many affiliates, after so
Myth 1: People buy a product at the cheapest price they can find.
That is not true - if it was then companies like Rolex and would not exist - Timex would have put them out of business a long time ago. Despite the ease of research that the internet affords - buyers are generally lazy and don't undertake full research. Even on eBay where it is far easier to check the relative prices of a product - people often buy a product at a higher price than they could. So what causes people to buy? These are called buying triggers - the most common are:
* Confidence in the seller
* A high perceived value
* Recommendations
* Ease of purchase
Blasting Myth 1:
Establish your credentials - for example we have over 20 years of business consultancy experience - so we know what works and what does not work in a business.
Find ways of enhancing the perceived value of your product or service by adding extras or clearly demonstrating the value of it's purchase.
Ensure that you include some actual recommendations within your sales letter.
Make it easy to purchase and receive your product by not introducing any barriers to purchase such as extra forms, obscure or complex payment methods.
Myth 2: Offering your customers numerous different options will boost your sales
When confronted with several options, most customers have difficulty making a decision. They often react by procrastinating - and going to a seller who offers a clearer product. Now by this we don't say add extras or up sells, just clearly state what is included in the product and don't offer options that not only confuse but making your selling and processing more difficult.
The human mind works better when offered the two options "buy", "don't buy".
Blasting Myth 2:
Only offer one product - or product package per page. You can have a clear (and short) menu on each page to encourage multiple purchases.
If you have more than one option for a product or service - then give them different names and present them each separately. For example you can call them "silver service", "gold service", "opal service" etc. This is what we did with our various marketing services and it works quite well.
You should always aim at a small, easily understood product or service range. You should be able to explain each of your products in one or two sentences. If you can't do this - how do you expect your potential buyers to understand what they are buying?
Myth 3: Everybody Needs My Product or Service
Unfortunately, most people don't believe that they do need a particular service of product. Obviously with items such as Ipods - your teenager will try and tell you they really, really, really need one, but this is peer pressure that has been built up with millions of dollars. Much of this was spent on research into what there market wanted - and they got it right!
If you believe this myth then you also believe that you can succeed without doing much marketing or selling.
I've been out of school for a few years. Since I graduated, I've learned all sorts of things I wish I knew while I was in school. I want to give you a set of guidelines for summer jobs, so you get paid what you're worth (and not worked to the bone for some unappreciative jerk of a boss.)1. Do not settle for anything less than $15-$30 an hour. Paid by the hour.Frankly, I'm disgusted with the low-wages some college students are willing to work for in the summer. When I met my girlfriend, she was folding clothes for Jasmine Sola for $8.50 an hour! And she didn't eve
* Confidence in the seller
* A high perceived value
* Recommendations
* Ease of purchase
Blasting Myth 1:
Establish your credentials - for example we have over 20 years of business consultancy experience - so we know what works and what does not work in a business.
Find ways of enhancing the perceived value of your product or service by adding extras or clearly demonstrating the value of it's purchase.
Ensure that you include some actual recommendations within your sales letter.
Make it easy to purchase and receive your product by not introducing any barriers to purchase such as extra forms, obscure or complex payment methods.
Myth 2: Offering your customers numerous different options will boost your sales
When confronted with several options, most customers have difficulty making a decision. They often react by procrastinating - and going to a seller who offers a clearer product. Now by this we don't say add extras or up sells, just clearly state what is included in the product and don't offer options that not only confuse but making your selling and processing more difficult.
The human mind works better when offered the two options "buy", "don't buy".
Blasting Myth 2:
Only offer one product - or product package per page. You can have a clear (and short) menu on each page to encourage multiple purchases.
If you have more than one option for a product or service - then give them different names and present them each separately. For example you can call them "silver service", "gold service", "opal service" etc. This is what we did with our various marketing services and it works quite well.
You should always aim at a small, easily understood product or service range. You should be able to explain each of your products in one or two sentences. If you can't do this - how do you expect your potential buyers to understand what they are buying?
Myth 3: Everybody Needs My Product or Service
Unfortunately, most people don't believe that they do need a particular service of product. Obviously with items such as Ipods - your teenager will try and tell you they really, really, really need one, but this is peer pressure that has been built up with millions of dollars. Much of this was spent on research into what there market wanted - and they got it right!
If you believe this myth then you also believe that you can succeed without doing much marketing or selling
Workshops are serious business. Businesses love hosting workshops just to be able to say they provide continuing education. Speakers across the nation have jumped on the workshop bandwagon trying to become the next great guru.Anyone with valuable information or notable skills should run a successful workshop. You should because, even though workshops are sprouting up all over the place, there still aren’t enough to accommodate everyone. But in order for you to conduct a successful workshop that means something to you, you have to avoid a few mistakes others make.Av
Myth 2: Offering your customers numerous different options will boost your sales
When confronted with several options, most customers have difficulty making a decision. They often react by procrastinating - and going to a seller who offers a clearer product. Now by this we don't say add extras or up sells, just clearly state what is included in the product and don't offer options that not only confuse but making your selling and processing more difficult.
The human mind works better when offered the two options "buy", "don't buy".
Blasting Myth 2:
Only offer one product - or product package per page. You can have a clear (and short) menu on each page to encourage multiple purchases.
If you have more than one option for a product or service - then give them different names and present them each separately. For example you can call them "silver service", "gold service", "opal service" etc. This is what we did with our various marketing services and it works quite well.
You should always aim at a small, easily understood product or service range. You should be able to explain each of your products in one or two sentences. If you can't do this - how do you expect your potential buyers to understand what they are buying?
Myth 3: Everybody Needs My Product or Service
Unfortunately, most people don't believe that they do need a particular service of product. Obviously with items such as Ipods - your teenager will try and tell you they really, really, really need one, but this is peer pressure that has been built up with millions of dollars. Much of this was spent on research into what there market wanted - and they got it right!
If you believe this myth then you also believe that you can succeed without doing much marketing or selling
Do you remember how proud you were the first time you saw your name in print?Most entrepreneurs feel that same flush of pride when they gaze on their new business cards. That small piece of paper represents years of planning and effort and hard work and dreams. The thrill of seeing "your name in print" on a business card is hard to beat.Unfortunately, other people couldn't care less. Your business card, the one you're so proud of, is just another advertisement ? another piece of clutter to file. It's no more or less important than any of the many business cards that cr
Blasting Myth 2:
Only offer one product - or product package per page. You can have a clear (and short) menu on each page to encourage multiple purchases.
If you have more than one option for a product or service - then give them different names and present them each separately. For example you can call them "silver service", "gold service", "opal service" etc. This is what we did with our various marketing services and it works quite well.
You should always aim at a small, easily understood product or service range. You should be able to explain each of your products in one or two sentences. If you can't do this - how do you expect your potential buyers to understand what they are buying?
Myth 3: Everybody Needs My Product or Service
Unfortunately, most people don't believe that they do need a particular service of product. Obviously with items such as Ipods - your teenager will try and tell you they really, really, really need one, but this is peer pressure that has been built up with millions of dollars. Much of this was spent on research into what there market wanted - and they got it right!
If you believe this myth then you also believe that you can succeed without doing much marketing or selling
Do you remember when you moved the furniture in your room? Do you remember how you kinda bumped into everything a couple of times and then figured it out. The funny thing is that it took you two to three turns of bumping into things in the dark, before you worked out things had changed.And the brain learned. Through repetition.But remember when you put your finger into a candle flame and got burned? You never ever did that again, did you? The brain learned a lesson very, very quickly. You didn’t need a second turn to figure out the danger.In effect, the brain le
Myth 3: Everybody Needs My Product or Service
Unfortunately, most people don't believe that they do need a particular service of product. Obviously with items such as Ipods - your teenager will try and tell you they really, really, really need one, but this is peer pressure that has been built up with millions of dollars. Much of this was spent on research into what there market wanted - and they got it right!
If you believe this myth then you also believe that you can succeed without doing much marketing or selling. Unfortunately, despite what some marketers tell you - it does not happen that way. Undoubtedly there some very successful marketers around, but they will all admit that a great deal of market research, testing and reviewing of their offerings - happened before they became successful.
Building a successful business is hard work - most of it devoted to finding potential customers and then matching them with your products and services. Even if most people can use your product or service, you still need a marketing strategy to reach them and a persuasive sales message to close sales - because you can bet your last dollar - that where there a lots of potential customers – there are just as many sellers.
Blasting Myth 3:
* Do your homework - find out where your potential customers are, what particular needs and desires they have and what they are seeking to solve these.
* Look for a narrowly defined niche market where your product or service will solve a unique need of the customers.
* Design your product or service to meet these needs.
* Test, Change, Test, Refine, Test and obtain customer feedback.
Unless you are one of the millionaire marketers around - you will find many myths that you follow and potentially lose money on. Hopefully the ones above have helped you.
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