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Archive for the ‘Marketing’ Category

Today marketing is not the same as it was in the ‘60s or ‘70s, because there are enough products to satisfy customer’s needs.  In fact customers are “hyper-satisfied”!  Companies have segmented the market until it has become almost too small to service profitably.

Distribution is now largely in the hands of giant corporations such as Wal-Mart and Costco. There are more brands and fewer producers, products “life” have been shortened, and it’s cheaper to replace than to repair – all complicating the process further.

Marketing has always started with identifying the needs of your customer, but many companies are now focusing on the product.  They focus on what category it falls into, and then what sub-category (for instance pudding and then what flavors). By focusing on the product, companies then focus on who’ll use the product, and those considered “not using” are excluded from the picture.  In doing this, you’ve just given your competitor a target market.

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Every year thousands of men and women across America sign on with direct selling firm-Tupperware, Amway, or a cosmetic company-hoping to make money enough for new draperies, a new davenport, or some new clothes. They sell a little merchandise to a few relatives and close friends. Then they are through. They quit before they give themselves a chance to learn the basics of success in sales. “I am simply not a born salesperson,” they often say. No one is born a salesperson, any more than one is born a doctor or born a lawyer. Sales is a profession. To be successful in any profession one must learn not only the basic techniques, but also how to apply those techniques. Success in sales makes use of all the abilities one is born with, plus all those acquired through education and experience.

If you are looking for a career opportunity or “extra income” to help with the family budget, direct selling offers you dream-fulfilling possibilities. However, you must give yourself time to learn the techniques of sales. Ask yourself. “How long does a doctor to be study? A lawyer to be study?”

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Toll-free numbers allow customers to contact your business without them having to pay for their call.  Studies have shown that consumers are more likely to call a business with a toll-free number than those who only have a long-distance number, and 90% of Americans say that they use toll-free numbers.  By following these five easy steps, you can discover for yourself how a toll-number can help your business grow.

1. Expand your market.  Toll-free numbers allow you to use the same number for receiving local toll and state-to-state calls.  This gives you the opportunity to market your business nationwide.  Even if you don’t provide service in certain areas, toll-free numbers have the flexibility to block calls from those areas. Read the rest of this entry »

“Don’t put all of your eggs in one basket!” You’ve probably heard that over and over again throughout your life…and when it comes to investing, it is very true. Diversification is the key to successful investing. All successful investors build portfolios that are widely diversified, and you should too!

Diversifying your investments might include purchasing various stocks in many different industries. It may include purchasing bonds, investing in money market accounts, or even in some real property. The key is to invest in several different areas – not just one.

Over time, research has shown that investors who have diversified portfolios usually see more consistent and stable returns on their investments than those who just invest in one thing. By investing in several different markets, you will actually be at less risk also.

For instance, if you have invested all of your money in one stock, and that stock takes a significant plunge, you will most likely find that you have lost all of your money. On the other hand, if you have invested in ten different stocks, and nine are doing well while one plunges, you are still in reasonably good shape.

A good diversification will usually include stocks, bonds, real property, and cash. It may take time to diversify your portfolio. Depending on how much you have to initially invest, you may have to start with one type of investment, and invest in other areas as time goes by.

This is okay, but if you can divide your initial investment funds among various types of investments, you will find that you have a lower risk of losing your money, and over time, you will see better returns.

Experts also suggest that you spread your investment money evenly among your investments. In other words, if you start with $100,000 to invest, invest $25,000 in stocks, $25,000 in real property, $25,000 in bonds, and put $25,000 in an interest bearing savings account.

All of us would love to make a little more money. Sometimes just a little to supplement an income can be a huge help. Today it is easier that you think to get a little extra cash in your bank accounts. Most of us today have our own personal websites. We can get them for free and use them as a method to keep others informed of what we are doing. You can actually turn your website into a way of making some extra cash for you. By placing some ads on your site, you have the potential to earn some cash.

When people go onto your site, if they see an ad that is interesting and click it on you receive what is known as a referral payment. The more clicks the better. Gradually your earnings will increase as your website gets viewed. Read the rest of this entry »

While quite a bit of time and research goes into selecting stocks, it is often hard to know when to pull out – especially for first time investors. The good news is that if you have chosen your stocks carefully, you won’t need to pull out for a very long time, such as when you are ready to retire. But there are specific instances when you will need to sell your stocks before you have reached your financial goals.

You may think that the time to sell is when the stock value is about to drop – and you may even be advised by your broker to do this. But this isn’t necessarily the right course of action. Stocks go up and down all the time, depending on the economy…and of course the economy depends on the stock market as well. This is why it is so hard to determine whether you should sell your stock or not. Stocks go down, but they also tend to go back up.

You have to do more research, and you have to keep up with the stability of the companies that you invest in. Changes in corporations have a profound impact on the value of the stock. For instance, a new CEO can affect the value of stock. A plummet in the industry can affect a stock. Many things – all combined – affect the value of stock. But there are really only three good reasons to sell a stock.

The first reason is having reached your financial goals. Once you’ve reached retirement, you may wish to sell your stocks and put your money in safer financial vehicles, such as a savings account. This is a common practice for those who have invested for the purpose of financing their retirement. The second reason to sell a stock is if there are major changes in the business you are investing in that cause, or will cause, the value of the stock to drop, with little or no possibility of the value rising again. Ideally, you would sell your stock in this situation before the value starts to drop.

If the value of the stock spikes, this is the third reason you may want to sell. If your stock is valued at $100 per share today, but drastically rises to $200 per share next week, it is a great time to sell – especially if the outlook is that the value will drop back down to $100 per share soon. You would sell when the stock was worth $200 per share. As a beginner, you definitely want to consult with a broker or a financial advisor before buying or selling stocks. They will work with you to help you make the right decisions to reach your financial goals.

Many entrepreneurs market via outreach events, be it trade shows or presenting seminars, and budgets to schmooze clients and impress friends are getting tight. Now that the economy is back in the spotlight, with gasoline at $2.60+ a gal., big companies announcing layoffs, and prices rising across the board, the time is here to tighten our belts and squeeze that marketing dollar until it squeals.  Believe me the rhetoric that the economy is getting better is just that – political rhetoric, and isn’t coming from the business community in the trenches.  We know better!

Even though lavish budgets are history, the creative entrepreneur can still use events as a marketing tool if he/she rolls up sleeves and goes into “guerilla marketing” mode.  Creativity is the key!  The time for promoting an event and waiting to see who registers within 6 to 8 weeks is past.  The first’s thing to remember, is that no amount of cajoling, marketing, or freebies will compel attendance at your event if it doesn’t offer real value to the attendee.

People expect to be exposed to valuable content, and aren’t attending just for the networking.  With that as a given, let me give you some guerilla marketing tips.

Some key points to remember in any outreach promotion are to build in a tracking method on each marketing piece, such as unique URLs and/or codes on registration.  Be ready to offer incentives such as discounts or gifts to gain access to clubs or sponsors members, lists or audience.  Lastly, have the appropriate marketing tool kit ready before you start.  It should contain such things as Web banners, email templates, sample sales copy, and special offer announcements packaged for easy access.

In good times or bad, these tips will help any entrepreneur draw more interest in their activity or event.  A good outreach program promotes special relationships with your sponsors, community and attendees better than any other marketing activity can before the event.  Using guerilla marketing tactics in lieu of bucks takes creativity, elbow grease, and luck.

Direct marketing campaigns are truly effective when you precisely target customers likely to buy from you. This is done by Profiling and Modeling prospects and clients. Dumb mass mailings are replaced with “surgical” campaigns that market to specific customers with accuracy using technology that is now available.  Today, it’s possible to collect an enormous amount of information about customers, but to use it effectively you use it in “profiling” and “modeling”.

Both of these techniques are ways of applying external data to possible clients.  They can be used to prospect for business or to zero-in on existing customers for your mailing.  The goal is to predict behavior based on what you know about your customers. These two methods are not mutually exclusive, and marketers often use them together.  The difference is that profiling data is overlaid against an existing client database, and has a long life span. It can be used for several mailings, and in contrast modeling is used to sharpen the focus of a specific mailing. Read the rest of this entry »

How many e-mail messages do you send everyday?  You’re probable missing out on a simple, inexpensive marketing tool.  Seize the opportunity to promote your business to a highly targeted market without spending a dime by utilizing your e-mail signature line.

If your email signature line only contains your name and contact information, you’re missing out on advertising to e-mail recipients that have opted for communications from you. These people are key members of your unofficial marketing network.  They are your prospects, clients, press contacts and colleagues and your signature line is the perfect, unobtrusive space for a unique promotional pitch.

Try these tactics to turn your “sign-offs” into sales: Read the rest of this entry »