Advanced Marketing Controlling Your Income

Writen by Daniel Wadleigh

Testing a variety of promotional attempts will tell you what will bring in the bacon and how much money and effort it will cost. Promotions dangled whereby they initiate the actions are 2-5 times more fruitful in generating sales income than when you have to mail or telemarket. However - if the total income derived from yellow page ads, radio spots, newspaper, TV or electronic billboards isn't measuring up to the needed or desired level of income to make you happy (or to keep your people working), then more aggressive actions must be employed. It's called, "you-go-to-them."

Now, understand that these programs do not have the same "order- taking" ease that call-in campaigns do, but you need to stay above the break- even line at all times, or else you are taking profits out of your own pocket! Seasonal business owners, like heating-cooling contractors, can fill in "off-seasons" by offering comfort, economy or indoor air quality products, services or inspections - not only to strangers, but to their established customer base, as well. Not only is "after-market" (i.e. additional sales income from the existing customer base) an easy money-maker, it is the best (cheapest) way to create fill-in business. Be it mailers, generated referrals, telemarketing, point of sale super-offers or network marketing, you should test two or three of these direct approach efforts to see which ones will work for you in the "slow times."

Measure which kind of promotion resulted in every sale, or else you won't know what generates results. This way, you can fine-tune every effort to increase profit per sale, or increase sales by expanding the best efforts. Obviously, it's easier to sell them when they call or arrive, but, if you don't have back-up efforts available that work, you're not running a marketing managed business and you are out-of-control. Don't wait for the bottom of the sales curve to think about doing something. Test your approaches in the good times and secure your business income.

Strengthening That Image

In order for people to enjoy doing business with you, there are two additional ways to "tighten up the ship." The more faceted your array of impressive capacities, the more likely they are to "invest" money in you. You will have success and resourcefulness written all over your every effort.

Physical Appearance - This is represented by that which meets the eye. Quality means that you bother to go the extra mile. A. Vehicles should be clean, orderly and look cared for. B. Literature should be above average in paper quality and layout, and be orderly in design. C. Tools should be organized, respected and in good condition. D. Any devices that are state-of-the-art can show a commitment to the best possible service - "bells & whistles!"

Emotional Appearance - This is observed by minimum levels of opportunities to generate positive emotions about your company.

Empathy - Openly demonstrate a concern for their concerns. People will tell you what they want, and what concerns them. Respond in a sincere and genuine manner to their words and gestures, and be alert to share in their emotional condition.

Ask questions - Not only will you draw out of them their concerns, but the whole attitude of, "I'm here for you," just screams from genuine questions. Don't abuse it, or they'll know!

Encourage complaints – 7% of unhappy customers actually complain to the source of his problem. So, you lose 93% of customers, sooner or later, who just don't return! Studies show that corporate America loses 10% of it's base every year. That alone is grounds for uncovering complaints. Besides, we can't correct errors that we are not aware of. You must ask whether or not you have performed up to the expectations of the customer. Best of all, this whole process instills confidence and trust. No one loses!

Thank-you notes - These are examples of bothering to go the extra mile, when it isn't "necessary." If you've ever received one, you should know exactly how appreciated it can make a person feel, and how appreciative of whomever sent the note.

Humility- While it is authoritative and comforting to "know it all," the humility of saying, "I don't know the answer to that question, but I'll find out for both of us and get back to you with the answer," (and do it) can also instill strong emotional trust and confidence in your judgment, honesty and integrity.

Daniel Wadleigh is a nationally published marketing consultant and has programs for start-up and existing businesses including effective web sites, e-mail/database, other non-internet ways to drive them to your website, and low cost ways to get more new customers.

Go to: http://www.more-new-customers.com to get free copy of "Marketing to Men vs. Women- the 8 different responses" and a Free copy of "Market Research- 7 Questions to Ask to Start-up and 7 to Ask to Improve Any Business."

Quotrule Of Thumbquot Is Just A Starting Point

Writen by Larry Galler

In conversation recently, a businessperson asked me whether there was a "rule of thumb" for setting the price for her products. My answer was, "Yes, but that's just the starting point and I feel that using "rule of thumb" for business decisions, especially pricing decisions, means you haven't created a business strategy."

Pricing can be based upon so many variables that using an industry average, standardized mark-up, or astrological chart is the tip of the iceberg in setting prices. A key consideration, and one that is rarely discussed, is the overall strategy of the seller.

What "position in the marketplace" do they have (or want to have)? Some businesses create a prestige, high service position while others create a bargain, low service position. They can both be selling exactly the same product, but their overhead structure, cost of occupancy, cost of amenities, cost of labor, cost of advertising, and cost of customer communications is vastly different and therefore the price they sell their product must be at opposite ends of the pricing spectrum. If both the prestige outlet and the bargain outlet meet their sales volume and profit goals one can conclude that their pricing structure is valid and their customers feel they are getting full value even though their prices might both be considerably different from industry standards or "rule of thumb."

So think of "rule of thumb" as just the starting point of the pricing equation question. Once you have discovered the "range of average prices" for your industry you can begin to develop the added value you bring to that product and modify the price based on your individual situation. If you offer prestige, plush amenities, individualized service, expensive location, extra training, etc. you will have to charge for it. If the buyer wants those added virtues they will pay for it. If you offer a bargain experience your overhead must be much lower or you must sell in higher volume to cover your expenses and still make a profit. Just don't rely on a "rule of thumb" or the competition will cut off that digit.

Larry Galler coaches and consults with high-performance executives, professionals, and small businesses since 1993. He is the writer of the long-running (every Sunday since November 2001) business column, "Front Lines with Larry Galler" Sign up for his free newsletter at http://www.larrygaller.com Questions??? Send an email to larry@larrygaller.com

The Art Of The Business Card

Writen by Bette Daoust, Ph.D.

Use a business card as a note pad for recording important information.

I am sometimes asked why I make such use of business cards. My reply is that they are easy to transport and I do not need an extra envelope. I particularly make use of others' business cards for taking notes on our conversation. I am one of the worst when I get home and cannot remember who Gary from XYZ is and what he does that will make a good connection. Write it down right after the conversation, make the notes very brief but make sure that you write down why you are interested in furthering the relationship. You do not need to take up a lot of lines of information, but you do need to note when you agreed to contact that person and why. The other person is not likely to remember who you are either and if you have a few notes, they will appreciate it as well.

Special information is only special if it leads to a business relationship and ultimately to doing business with that person. Make sure you know exactly what you expect to get out of the contact. Do not bother contacting everyone you meet; if you do, you will not have time to get down to the real business of making money. I only write down information for those that I put in my "interested" list so that I can follow up with a brief meeting to explore the possibilities. If I am not in the market for an item or I do not want to meet with the person for some reason, I file their card away in a separate location. I never throw out valuable contact information.

I do have a large database of contacts that I add to everyday. I also make note, in my contact file, of what possible potential there is or what service that person could possibly need from me or my company. Not everyone will be a buyer, but everyone knows someone that may be one.

Bette Daoust, Ph.D. has been networking with others since leaving high school years ago. Realizing that no one really cared about what she did in life unless she had someone to tell and excite. She decided to find the best ways to get people's attention, be creative in how she presented herself and products, getting people to know who she was, and being visible all the time. Her friends and colleagues have often dubbed her the "Networking Queen". Blueprint for Networking Success: 150 ways to promote yourself is the first in this series. Blueprint for Branding Yourself: Another 150 ways to promote yourself is planned for release in 2005. For more information visit http://www.BlueprintBooks.com

Make Every Call Count

Writen by Caterina Rando

After years of coaching sales and business people in a wide variety of industries, there is one thing that stands out as an important differentiating factor between those that have average success and those that consistently soar. It is not enough to go on appointments, send out fancy packets and pass your card around. You have to be willing to become masterful at using the phone. Phone mastery is an important business skill like any other. No matter how good you already are you can always improve. Review these "quick tips" for making every call count and next time you make some calls you will be more successful.

Psyche Yourself Up
Do not simply locate the masterful the number and begin to dial. Visualize the result you want before each call. See the person picking up the phone, saying how glad they are to hear from you.

Preplan Your Points to Make
You do not n need to script every word you want to say. If you do you will sound like those telemarketers that call you during dinner. Instead, jot down key words that remind you of the points you want to make. Keep your desired outcome from the call in mind.

Smile
Smile. Some phone experts suggest putting a mirror in front of you so you can see yourself smiling. If you are listening to someone on the phone, you can always tell if they are smiling, they sound different, better, more inviting.

Ask for Agreement to Talk
Most people hate to be called by someone who starts a spiel as soon as the phone is picked up. Once you reach your party, state your name, why you are calling, and ask if they have a minute to talk. If they say no, ask when would be a good time to call back. Make sure you call back at that time. If you do, they will gladly give you their attention.

Read The Level of Rapport
You want to build rapport with the person you are speaking to. Some people play "Relationship Geography" asking people questions to try and find a person they know in common. This is fine if the person is friendly, interested and has time to spare. Other people find this intrusive and frustrating. You have to be able to gauge the level of warmth, interest and enthusiasm of the person and match that level, plus just a bit more. If they seem stoic, be a bit warmer than stoic. If they are enthusiastic be a bit more enthusiastic.

Be Brief
In order to hold the attention of the listener and keep them engaged, speak in short sentences. Do not use a marketing monologue.

Be Benefit Focused
What ever you say it has to matter to your potential customer and it has to be of benefit to him/her. Think client-centered rather than self - centered.

Open Ended Questions
Ask questions to help you identify how to better serve each potential customer. Avoid yes/no questions ask open-ended questions that require an explanation for an answer. For example instead of asking how long have you been using product X, ask what has been the most valuable benefit of using product X.

Ask Questions that Identify Challenges
Your job is to solve the client's challenges, make the client's life easier, or make their business more profitable. Ask what are the biggest problems they are facing in their business, and figure out how to address those challenges. If you can do that, you will have many loyal customers.

Ask for What You Want
Do not hang up the phone before you asking for what you want. Even if you think you will not get it, ask anyway. You may be pleasantly surprised with the answer. If you do this consistently and you are making enough calls, eventually you will be successful.

Use An Accent to Your Advantage
If you have an accent and have mastered the other tips discussed here, use your accent to your advantage. People with accents sound appealing, and people like to listen to them. If they ask you about your accent, use it as an opportunity to ask them about themselves and build rapport.

Call When You Said You Would
Make sure you call exactly when you said you would. Even though your potential client may not remember when you said you would call back, by doing so, you create urgency and trust.

Follow-up Immediately
If you have agreed to send out information or fax over a registration form do it immediately. This also creates urgency, if you are urgent the potential client may also respond urgently allowing you to get your goal sooner.

Track Your Calls
Set a goal for yourself every week and decide how many calls you are going to make. Estimate how long it will take you to make that many calls and block the time on your schedule. Act as if it was an appointment with a client, the call time you set aside to develop new clients must be viewed as very important.

Pick Up The Receiver
The more you do call the easier it gets. The more you do call the better you get. The better you get the better the results. The only way to get masterful at using the phone is to use the phone and apply these tips to make every call count.

Caterina Rando, MA, MCC coaches entrepreneurs and direct sellers to be innovative in their thinking and action in order to succeed with ease. She is a sought after speaker, master certified coach and author of the national best-seller Learn to Power Think. Caterina is also the Success Center Director for the Direct Selling Women's Alliance and contributing author to the soon to be released book Build it Big-101 Secrets of Top Direct Selling Experts. Caterina can be reached by email at cpr@caterinar.com. Visit her website at www.caterinar.com for more articles and a beautiful, colorful downloadable daily inspiration card.

Convertible Hybrid Displays For Trade Shows

Writen by Ron Adler

Another recent improvement in the trade show industry is the use of convertible or hybrid displays – displays that contain modular components that can be used by themselves or together to create multiple sized displays. This versatility gives companies that exhibit at different venues each year a cost-effective and versatile display to use throughout the year.

The Problem

Your company exhibits at several shows throughout the year, however your exhibit space varies depending on the show. At smaller shows you only have room to show a tabletop-sized display, but at your national show, you have a 30-foot space to fill. In addition to your space issue, you have a limited budget and can't afford to purchase multiple booths.

The Solution

Display manufacturers have introduced "hybrid display systems" featuring everything you need to exhibit in large or small spaces. These systems can contain large-impact format tension fabric graphics, attention-grabbing plasma presentation areas, computer demo areas, shelving for products and literature, conference room areas and storage.

Nomadic Display, for example, has a modular system called DesignLine that converts from a large island display all the way down to a podium. It's unique modular engineering provides enough versatility to fit a variety of applications including a kiosk, 10-foot back wall, 10'x20' inline with a reception counter or a full 20'x20' island. And while the price tag on a booth like this may be high, it's certainly less than purchasing 4 or 5 separate display systems.

How They Can Maximize Your Budget

Instead of purchasing several different sized booths for different shows, investing one lump sum in a hybrid booth can yield up to 4 or 5 different booths. By using only the size necessary for the show you're doing, you'll also save shipping expenses.

Ron Adler has been working in the exhibit industry with Adler Display (http://www.adlerdisplay.com) for over 30 years. Ron has designed and created some of the most unique and creative displays in the mid-Atlantic region including several Visitor Centers in Maryland as well as dozens of exhibits for museums and hospitals throughout the United States.