| |
| |
|
Sales Management Information |
|
|
|
4 Marketing Myths Threaten Your Sales
These 4 marketing myths can cause you to lose sales if you base your marketing decisions on them. But the related marketing tips I included with each myth will boost your sales if you act on them instead. Myth 1: If this was true, only businesses that charge cheap prices would exist. Some people buy where they get the cheapest price. But most people are more interested in getting value for their money than in getting a bargain. Tip: Look for some low-cost ways you can enhance the perceived value of your product or service. Then test raising your price. Don't be surprised if both your sales and your profit margin go up. Myth 2: v Offering Your Customers Many Options Will Boost Your Sales Presenting your customers with options usually reduces your sales. Here's why... When confronted with several options, most customers have difficulty making a clear decision. They often react by procrastinating - and never making a decision. When this happens, you lose a sale you already had. Tip: Try to limit your customer's decision making to either "Yes. I'll buy." or "No. I won't buy". Don't risk losing them by including "which one" decisions. Myth 3: That's what YOU think. Most of them don't think they need it ...and most aren't ready to spend their money for it. The hazard of this myth is that it causes many marketers to believe they can succeed without doing much marketing or selling. They think their product or service is so special that it should automatically generate hordes of paying customers. Unfortunately, it doesn't happen that way. Building a successful business is hard work - most of it devoted to finding customers. 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. Tip: Look for narrowly defined niche markets where your product or service solves a unique need of the customers. Focus your marketing on them instead of trying to reach a broadly defined general market. You'll generate more sales and enjoy a better return on your advertising expense. Myth 4: This sounds logical but it's not true. Never abandon advertising that's working. I know many businesses that have been using the same advertising for years and they're still growing. Here's why... The goal of most advertising is to attract new customers. Once someone becomes a customer, they won't respond to that advertising again. But you can use different (and cheaper) advertising to generate additional sales from them. But there's still a large population of non-customers who didn't respond to your regular advertising. Most have not seen it yet ...and those who have usually need to see it numerous times before they will respond. Don't abandon advertising that's working - but keep trying to improve it. And regularly test new things to see how they work for you. If you never make any changes in your advertising, your sales will eventually decline. Tip: You can automatically keep your advertising up to date by allocating 80 percent of your budget to proven promotions and 20 percent to testing new things. When something new works better than your proven promotions, move it to the 80 percent group and start testing something else in the 20 percent category. Don't believe these 4 marketing myths. They're not true. Marketing based on them will cause you to lose sales. Instead, apply the related marketing tips I included after each myth to boost your sales. Copyright 2004 Bob Leduc http://BobLeduc.com Bob Leduc spent 20 years helping businesses like yours find new customers and increase sales. He just released a New Edition of his manual, How To Build Your Small Business Fast With Simple Postcards... and launched *BizTips from Bob*, a newsletter to help small businesses grow and prosper. You'll find his low-cost marketing methods at: http://BobLeduc.com or call: 702-658-1707 After 10 AM Pacific Time/Las Vegas, NV
MORE RESOURCES:
Tom Murphy Joins Advisory Board of i2Telecom International, Inc. - istockAnalyst.com (press release)
Sales-Management - Google News |
|
|
|
RELATED ARTICLES
Increase Your Sales - Accept Credit Cards Many people today simply prefer the convenience of paying by credit card. If you want their business, you must be able to accept their credit-card payments. The Benefits of Catalog Sales For Your Business Things to watch out for when selling your product in catalogs.Giving away the farm. Transforming Your Sales Force by Creating Specific Expectations I just finished a phone call with a potential client who had called to discuss a problem. His 18 person sales force was paid on straight commission. Snowflakes Improve Holiday Sales Snowflakes are beautiful!For the Winter Holiday sales season handcrafted snowflakes are the perfect touch. They lend an aura of a mystical winter wonderland to any room, house or office decor. The Surest Way to Boost Sales If you have a small business and you are looking to boost your sales and make the public aware of your business, how do you going about doing this? There is one sure way that I know to boost sales and create awareness. It may not be sexy, but it WORKS!The best way to "start" marketing any business is to develop a marketing plan. How to Win Over the Man in the Chair Salesmanship, Repetition, and Direct Mail In a classic business-to-business print ad from the late 50's for McGraw-Hill Magazines an imposing looking executive sits in his chair. He has both feet planted firmly on the ground, a scowl on his face. Building Trust For Lifetime Success Trust.One word. Retail Operations - Effective Branch Manager Support and Guidance Performance and behaviour management is by far the most difficult aspect of any manager's job and the reluctance to 'grasp the nettle' when performance or behaviour issues emerge is certainly a concern in many organisations. But at the end of the day that is what managers are paid to do and not doing so will certainly affect service, team morale, sales and ultimately the bottom line. Franchise Sales; Recruiting of Laid Off Employees Because of corporate downsizing, many people have been laid-off or voluntarily taken early retirement packages and/or incentives. This happens when times are good due to mergers and acquisitions or when the economy is in the dumps and corporations are working to cut payroll costs. How to Sharpen Your Sales Message with Do-it-Yourself Focus Groups - Small Business Power Tools You've probably heard of focus groups. It's a tool that the big guys use to quickly test a new product or service or to get fast feedback from potential customers. Back-to-School List - 10 Tips for Trade Shows There's a new year beginning now - the school year. Whether you have children attending for the first time or finishing university, it's always hectic to get into the back-to-school routine. The Product or the Sale This is a quandary not unlike the chicken or the egg question, "Which comes first?". Do you focus on creating a superior product and continue to develop superior products or do you shift focus from the product to the sale prior to fully developing the line, or schedule of services?In the study of business start-ups there are a tremendous number of entrepreneurs who created, or found marvelous products and yet were unable to crack the marketplace. Overcoming Sales Objections for Small Business Networks Do you need help overcoming sales objections? Do you sell computer networks, or other IT-related products and services to small businesses? This article provides tips and hints so you can be overcoming the most common sales objections heard when selling networks to small business prospects, customers, and clients.The problem generally begins when you start talking about a network upgrade. How Exhibitors Can Move More Attendees Closer to Buying Q. What's the single, biggest change exhibitors can make to move more prospects closer to a buying?A. Rotten to the Core: The Story of How the Best and Brightest can be Ruined The objective of an incentive is to incite action within an organization using a device or mechanism that that allows the rewarding or recognition of behaviors. This can be accomplished by offering preferential treatment, money, privileges, promotions, verbal praise, or complements. The Sales Carpenter I remember moving my family to Argentina as Vice President of Sales for Latin America. I was in charge of managing five regional offices, Argentina of course being one of them. Investing in Your Sales Team While there's no easy answer to this question, there are a few basic points, known as the Training Discrepancy Model, which illustrate key areas that must be targeted for your company's training investment to be 100% effective.First, think of a triangle. 4 Marketing Myths Threaten Your Sales These 4 marketing myths can cause you to lose sales if you base your marketing decisions on them. But the related marketing tips I included with each myth will boost your sales if you act on them instead. Book of Lists Marketing for Pressure Washing Companies The American Business Journals produces a Book of Lists each year in their many markets, it is wise for pressure washing companies to use this book of lists to find new clientele. The book of lists, lists the top companies in size in all industry sectors. Snuff Out the Competition Without Leaving a Mark! Does the competition drive you crazy? Are they relentless about taking your clients away? Are customer loyalties becoming a thing of the past?In our ever changing world, it seems securing business these days comes down to, who will provide the most services at the lowest possible price.To add insult to injury your previously served customers have taken on a new militant attitude about obtaining your services.
|
| home | site map |
| © 2006 |
