May 2012
M T W T F S S
« Apr    
 123456
78910111213
14151617181920
21222324252627
28293031  

Archive for the ‘Marketing’ Category

Sell It in 75 Words or Less

You have a brand new product you can’t wait to promote in your online store and watch the sales come rolling in. You’ve made sure to include a quality image, the name of the product, and maybe a few specs about the product. However, will that be enough to get your product “found” on the internet when consumers do an online search? Most likely not.

What you need is a sales-driven product description and you don’t have to be long-winded about it! In fact, you can sell it in 75 words or less. If you or someone on your staff can write in a conversational tone, can list the features of the product, and one or two benefits of how the product will enhance the consumer’s life, you are way ahead of your competition.

Don’t make Customers Read Your Descriptions Twice….

because they won’t. To begin writing your product descriptions, consumers must get the meaning of your message the first time. If you have long, rambling sentences, they tend to complicate your description and the consumer will click out of your web page. Long, rambling sentences seldom come to the point and leave customers confused.

Especially with web product descriptions – every word must count. Attention spans are short for web surfers, so get to the point quickly and list your most compelling reason to buy the product first. With online users, you typically have just a few seconds to grab a potential consumer’s attention, so don’t waste their time. Remember, their finger is on the mouse and losing a potential customer is just a click away.

Begin with Features
First, what exactly is a product feature? Features provide the description and specifications of an item. You can find a product’s features in the instructions or user guide that come with the product. Some examples of typical features would be:

  • product material ( stainless steel, cotton, plastic, etc)
  • product function (tells time, toasts bread, slices meat, etc)
  • size and dimension
  • colors available
  • # of pieces
  • Price

Drive Sales with Benefits
Next, look at the second component of a product description – benefits. Incorporating benefits, not just features, into your copy descriptions, promote the desire to purchase product. They make an appeal to the customer and fulfill a need. Benefits show your customer what he stands to gain by purchasing your product. Benefits answer questions such as:

  • Will this product make life easier or provide a convenience?
  • Does the product solve a problem?
  • Will the product save time or money?
  • Does this product alleviate a fear?
  • Does the product flatter?
  • Is the product exclusive?

Here is an example of a sales-driven product description for a not so glamorous product. The description is written in a casual, engaging tone, features are listed, and the desire to purchase the item is created.

Skin Stapler 35W Sterile
Shorten surgery time and get consistent, professional results with this hospital-quality skin stapler. An alternative to stitches, this compact design holds a generous 35 staples and fits comfortably in the palm of your hand for maximum control. With no need to disinfect, skin stapler provides a sterile and affordable option for every medical professional. $19.99

Listed features are:

• Stapler
• Holds 35 staples
• Sterile
• $19.99

Benefits to the consumer are:

• Stapler = shorter surgery time, professional results, alternative to stitches
• Holds 35 staples = compact for comfortable use, ease of control, fits in palm
• Sterile = No need for disinfecting
• $19.99 = affordable, saves money.

Why Have a Market Strategy?

If you haven’t figured me out by now, I have a passion for sports. I love watching as well as playing. This week I had the opportunity to attend my sons first soccer game of the year. It was an exciting game and they almost won. I have to say the plan was penetration, defense and passing. This was the coach’s strategy and they almost won. The other team was clearly better and it came down to the best out of 5 shots at the end of the game. Both coachess had a strategy and it served them well.

Having a strategy in business is just like having a strategy in soccer. Maybe not the exact components but clearly running a business needs a strategy. What’s your strategy for marketing? Do you have one? Do you need one? I believe you do? So here are my 5 tips for having a market strategy in your business.

The first one is to have some kind of social media strategy. Make it part of your daily routine. Currently I’m on Facebook and Twitter. Linkedin is also a great way to connect with people. I also have a website. It is very important that you are using social media for your marketing. This is a way of reaching a huge market for free! It’s also important to have some kind of objectives around these social media sites describing how often you are going to post. Hopefully you are using social media to drive traffic to your website. Maybe it’s the connection piece that ‘s important to you for these sites, the by all means connect. Maybe email campaigns are important, or blogs and ezines. My point is to connect with real people and talk with them and form a strategy around doing this?

The second one is to have some kind of offline strategy! This is the hardest for me. This is where you stop hiding behind your computer and get out there in a big way. Some things that I am doing is attending networking events like Business Networking International. Networking works, do you belong to some kind of networking group? A week ago I was interviewed on local television station about my business. This is a big way to get known for what you do. Radio is another way and it’s not as scary as television. Another offline strategy I use is participating at Trade Shows. Trade shows are fun and you meet a number of potential clients.

Thirdly, have some kind of strategy into building a relationship with potential clients so you gain their confidence! Remember most people will do business with who they know, like and trust. What does this look like? Give them something for free. On my website which is connected to my blog, I offer a free PDF to read on 5 Tip of balancing life and work for success. So give your prospects something for free. This will give the potential client a way of discerning if you are the right fit for them in a non-threatening way! In the long run this should translate into more clients for you!

My fourth one you can do everyday. Have some kind of strategy that creates awareness! What are you doing to create the buzz about you! This can be done both online and offline. I’ll talk about offline right now. What I’ve been doing is telling everyone I know about my business, and it has been stirring up interest. Some examples for me have been on print, such as giving business cards. Another is giving out flyers of your upcoming events.

Lastly, have some kind of strategy to your warm market. When I introduced my new coaching business. I wrote a warm letter telling my friends and family what I was doing. Have you done this yet? Like in soccer, strategy has one purpose to score enough goals to win. And to do this you must have a strategy in place. The same with business, the goal is to have a successful business with revenue so you can live the life that you always wanted. My favorite commercial is the Nike slogan “Just do it!” So what are you waiting for! JUST DO IT!

The Smart Marketing Strategy – Focusing On The Niche

Many businesses make the mistake of selling their products to the wrong market. A business, cannot be all things to all people. It has to be focused on a certain section, and the same rule applies to marketing too. “Niche” is the keyword here, that the businesses must build their strategies around.

As a business owner, you need to define and pinpoint your target market. You have to choose the markets you want to target and then serve these segments better than anyone else, as your top priority. Your approach has to be specialised and not generalised. And when it comes to choosing the niche markets make sure that they are both easily identifiable and accessible.

Figure Out Your Niche Audience

There is a rule that often applies to most businesses, irrespective of their type. According to the rule- 80% of business comes from 20% of the clients. If you have not noted this before, then do so now. Run your numbers and you will see that it may stand true in your business too. This is a clear indicative that the 20% of your customers is your ‘niche’. Now, this niche may be defined as the customers living in an area, belonging to a religion or in similar professions, what ever the common thread binding these 20% of your customers is, that is your niche.

The niche can further be segmented into groups, and each one may require a separate marketing approach. This special approach, crafted on the basis of their niche will seem like customized to the members of the group. You have to then understand what every target group in a niche wants from you, to focus your marketing effort on them. In other words, do not create a desire for your product. Instead, find where that desire and demand already exist, and then swoop in and present the party with your product/service in the most appealing way.

The Benefits Of Niche Marketing

If you have to summarise the advantages of niche marketing, it can be done in one way- you get large returns on sales and profits for a minimum of effort. This can be understood very easily – now, if you are targeting a specific niche, and are selling to that particular segment of the market only, then your advertising cost is reduced hugely.
Save Costs-You don’t have to spend bucket loads of funds on more wide appeal ads, and in the long-term, you raise your profits too!

Increase Income – When you have a niche audience that turn to you before going to any other vendor, then it means, that people are looking for what you offer specifically. This means that over time if you increase the price of your product, they wouldn’t mind paying for it, as you have become a specialist of sorts for them!

Stay Ahead Of The Competition – If you are settled in your niche, the customers are hooked on to your products and services, then you can hold on to the customers by declaring yourself the leader in the niche. This will reinstate their faith in you.

What Separates the Good Marketers From the Great Ones?

If you go to work every day, you might as well go all the way and shoot for the pinnacle of your profession. It’s a competitive world, so set your sights high. If you’re going to take the risk and invest the time, strive for greatness.

Ever since Jim Collins wrote his best-selling book, Good to Great, in 2001, business people worldwide have been fixated on greatness. Why do some companies do so well when a similar competitor languishes? Why do some companies transition from being merely successful to being truly great? What traits and behaviors separate the good from the great?

Of course, good-versus-great questions apply not only to companies; they can be asked of people who want to be great salespersons or marketers.

And remember, everyone is in sales and marketing regardless of their title.

Whether you’re selling medical equipment, working in business development or brokering international business transactions, it’s frankly easy to fail. Salespersons, marketers and dealmakers in every profession commonly fail. Some succeed, but only a tiny percentage achieves greatness.

The question then is what sales-and-marketing traits will lead you to the top of your profession?

Character – Great professionals are ethical and honest. They don’t tell a client or colleague what he or she wants to hear, it’s what they need to hear. Leaders with character tend to hire employees who are also upstanding citizens. Together, they attract clients of character. Everybody wins.

Be competitive – “Second don’t mean nothin’,” said Hall of Fame football coach Barry Switzer who led the Oklahoma Sooners to three national championships and the Dallas Cowboys to the Superbowl. Play to win. Be persistent. Don’t let anything fall through the cracks. Keep track of your competition and do what it takes to run at least a couple steps ahead of them. Be bold for the world has no room for shrinking violets.

Interpersonal skills – It sure helps if you possess some charisma, but rule number one is to listen. Great professionals listen and truly HEAR. When you are engaged in conversation, remember it’s not about you; it’s about your client.

Strategic Thinking – Have a plan that takes into account the big picture. What’s your philosophy? Strong organizations have developed mission and vision statements. Great individuals need them too.

Focus – Whether you are looking at this from an organizational perspective or a personal one, determine your competencies and spend the majority of your time, energy and resources working on those. If you feel like you’re spinning your wheels, ask yourself, “Am I doing what is truly important?”

Have a good product – Contrary to the popular saying, nobody can really sell ice to Eskimos. If your product or service doesn’t stand on its own merit, trying to sell it is no different than beating your head against the wall.

Others first – Real estate agents, accountants and trustees are said to have “fiduciary” responsibilities to their clients. In other words, they are legally required to put the client’s interest before their own. No matter what you do, pretend you have a fiduciary duty to the customers you serve. If you do this, you will build rapport, which leads to a relationship, which leads to the holy grail of sales and marketing: trust.

Ability to handle stress – “There are many guys who can paint an incredibly cogent picture of why a company should be investing in China or why a football team should run a certain offense,” says Joe Moglia, who serves as both chairman of TD Ameritrade and a head coach in the United Football League. “The reality is, when things are not going well, when you’re losing money in China, and your guys keep fumbling the ball, how do you handle yourself?”

Keep prospecting – No matter how busy you are as you put the finishing touches a big deal, remember to think about future deals. Always take time to fill your hopper, so you always have a steady supply of business. Don’t get emotionally attached to a certain piece of business, because you give up your power. Always go where the business is, where your best prospects live. It makes no sense to fish for business in a deserted lake.

Wrap it up – Ultimately, the purpose of marketing is to get somebody to say “yes.” Know what you hope to achieve from a prospect before you meet him or her and then keep steering the conversation toward closure.