Category: Sales & Marketing

Categories
Sales & Marketing

3 Mistakes Entrepreneurs Make When They Start to Sell Information Products

Recently, I wrote about the big mistakes entrepreneurs make when they create information products.  Unfortunately, there are more mistakes to avoid when starting to sell them!  Here are the biggest 3:

1. Your expectations are out of whack with reality. I once had a self development consultant tell me he wanted to sell a million dollars of his $497 product in one year. So I ran the numbers for him on what he would have to do to get that. He got very, very quiet.

Look, I’m all about thinking big. I’ve thought big my entire life. But if you want to do more than simply think big and actually accomplish big things, you need to understand what it takes to get there.

Let me give you a quick example. Let’s say you want to sell one information product a day off your web site. If you have a 1% conversion rate on your sales letter (and that’s not a walk in the park to do, but we’ll start there because the math is easy) that means one out of every 100 people are going to buy your product. To sell one a day, means you need 100 people looking at your sales letter a day. (Note, I don’t mean 100 people looking at your web site a day, I mean 100 people looking at that sales letter a day.) That means you need to get 3,000 visitors to that page a month. And if you’re not getting 3,000 visitors a month, you probably won’t sell an information product a day.

So let’s say you’re this entrepreneur. You just finished your product, you wrote the sales letter and stuck it up on your site and are now sitting back and waiting for the sales to pour in. And instead of getting one sale a day, you’re lucky to get a sale a month. Or every 6 months.

And when this happens, you’re probably feeling very frustrated and discouraged. But you shouldn’t be. Because if you understood how the numbers worked, you would know what was realistic and you would ALSO know what you needed to do in order to sell one a day. (Note, for more information about this, check out my “Why Isn’t My Web Site Making Me Any Money?” product —

http://www.michelepw.com/10easysteps.html)

The problem I’ve found is entrepreneurs create their first info product sure this is their ticket to easy wealth. Then, when the days, weeks and months go by and it doesn’t sell, they get frustrated and give up. And giving up is the REAL problem. Not the lack of sales. (Lack of sales CAN be fixed.)

2. You don’t spent the time and energy selling it as you did creating the product. Sending a couple emails to your list is NOT putting a lot of time and energy into selling your product. Or, worse yet, throwing up a sales page and expecting people to flock to it and buy is also not putting enough time and energy into selling it.

Products are great, don’t get me wrong. And while they can be passive income, what they mostly are is leveraged income. Making sales every day from your site is NOT magic. Nor is it an accident. It’s a combination of doing the right marketing tasks to drive warm visitors to your site, collecting their contact information, and starting a relationship with them with an ezine or some other communications. It’s about doing visibility activities. It’s about doing product launches to up your visibility and take your marketing to another level.

When you do all these things, you find your overall sales go up. And when you promote a product specifically, sales spike further.

3. You give up. I can’t tell you how many entrepreneurs I run into who have unrealistic expectations about selling their product, and then do little to no promoting or marketing of their product, and then give up because they don’t sell any. They incorrectly assume there’s a problem with their business, their clients, the product, themselves, etc., when it’s a problem with their marketing.

Before you decide there’s something more drastically wrong, make sure you understand the numbers and the marketing. Only then can you make a determination if there’s a deeper problem then simply bad marketing.

Categories
Sales & Marketing

7 Time Tested Tips for Making Your Advertising Work

Article Contributed by Troy White

The entire marketing and advertising business is backed on testing. If you are not testing different marketing methods, different advertisements, different media, etc., then you will never know what works and what doesn’t. It’s not exactly rocket science what I just said – but the fact of the matter is that less than 5% of businesses test anything.

So if it is so simple – why aren’t more people doing it?

Laziness, time constraints and lack of knowledge are the most common reasons I hear. I can’t help you with the first 2 – but I will share with you a number of marketing ideas you can test. Try one – measure the results, then test another. You are looking for the most powerful marketing method that you can continue to run for months/years to come.

(1) Tell a story – one of the best ways to pull your readers into your marketing and get them to buy. The Wall Street Journal runs a one-page story talking about Two Young Men – both from the same upbringing and neighborhood – how one went on to accomplish great things and the other went about life with dismal results. This incredible story has been running for decades now and in that time it has generated billions of dollars in subscription sales.

(2) Use clichés like “sick as a dog” – people can relate to them and there is a comfort feeling around them. As well, most people talk in clichés – so you must write like you talk. But a word of caution, do not over use them.

(3) Never write any marketing pieces if you do not believe in what it is you are selling or trying to accomplish – it will be very obvious to the person reading it that you don’t believe it.

(4) Don’t try and be cute or sophisticated. Be sincere, educational and passionate in your writing. Do whatever it takes to get into a peak emotional state before you start writing – be it music, exercise lots of coffee – whatever floats your boat.

(5) Write to a grade 7 reading level. This can be easily checked in Microsoft Word – go to “Tools at top – then – Options: then Spelling and Grammar: check the box that says Show Readability Stats. Every time you do a spell check form now on it will tell you what grade level your writing is at. This is your lowest common denominator and a guideline you must use in all your business correspondence and advertising – unless you know without a doubt that 100% of your market is at a Ph.D. level.

6) Pretend you are sitting around a fire with one of your best friends. You know that they have some possible interest in what you are selling. But they are skeptical at the best of times. What would you say to them to get them to try it out? How would you say it to them? This is exactly what your ads need to read like.

(7) Always use real postage stamps on your envelopes – never metered mail. Make it look as personalized as possible – not like it came straight from a machine.

There are 7 simple ways to get better results in your marketing and advertising; but they are useless if you don’t try them. Try one this week and see what happens. And please let me know how it goes.

About the Author
Troy White is a top marketing coach, consultant & direct response copywriter based in Calgary, Canada. He has a powerful approach to growing small businesses and entrepreneurial run ventures on a budget. His FREE Cash Flow Surges newsletter shares tons of great strategies and he blogs at http://www.smallbusinesscopywriter.com

He also publishes the incredibly powerful Cash Flow Calendar system that gives you daily, weekly and monthly marketing ideas to promote your business and stand out from the crowd. To get your free tips for growing your business, you can register at http://www.cashflowcalendars.com

Or you can take his business mastery course in marketing and advertising at http://www.thebusinessmasterycourse.com

Categories
Sales & Marketing

Money and Marketing: How To Get Your Next 3 Clients

Money%20and%20Marketing%20How%20To%20Get%20Your%20Next%203%20Clients.jpg
Whether you’re a burgeoning empire builder or simply want to have a successful home-based business, having a steady stream of ideal clients flowing in is essential to your success.
Problem is, many entrepreneurs make the process of getting new clients into a bigger deal than it needs to be. It’s actually really simple, once you know which basics to put into place.
Thing to keep in mind is this: people are happy to invest in you and your services if you are clear and confident about how you can help them. That means getting focused on your niche, making sure you can clearly talk about the results you deliver and making certain you have a step-by-step program you take clients through.
These are the same business essentials you must do over and over. Like shampoo, you know? “Rinse and repeat.” It doesn’t matter whether you’re brand new, have been in business for a year or are preparing to launch the next income stream of your growing empire; these essentials never change.
To help you get your next three clients, fast, here are three simple tips taken from the same system I used to leap from frustrating 5-figures to what is now a multi-million dollar coaching business in just a few short years. Truth is, I still use this same system, so you know it works!
Tip #1 How Clear Is Your Niche?
Undoubtedly, this is the single biggest reason most entrepreneurs stay stuck in low 5-fgures. Ladies, let’s get clear about something right here and now: your niche is not “women who want more clarity” or “everyone who wants to live their authentic truth.”
Think of your niche this way: It’s the intersection of:
* What you love to do, with…
* What people are having a problem solving or accomplishing, with…
* What people are willing to invest in to fix or improve
Your niche must clearly name who you work with, what the problem is that they’re experiencing and what solution it is that they’re seeking. Chunk down until you get to a very practical description of their situation. Remember, your description of your niche needs to be so crystal clear that when anyone hears it, they’ll know exactly who to refer to you.
Tip #2 Are The Results You Deliver Tangible, Specific And Measurable?
This may be a new way of thinking about your service, but the more you focus on the practical, tangible results clients get from working with you, the more clients you’ll have to work with.
Even if you offer a “softer” service such as energy healing or intuitive counseling you can still focus on the tangible results that show up for your clients. All it takes is a commitment on your part to look at the impact your service has on every aspect of your clients’ lives. One of the exercises I take my coaching clients through is discovering how their service impacts their clients’ finances, health and well being, relationships and their future opportunities. I love seeing the look of confidence on my clients’ faces when they realize just how far reaching their work truly is.
Tip #3 What Is Your Signature System?
People love to invest in step-by-step systems, which is why I innovated a process that helps you quickly uncover your Signature System, often in just a few minutes.
Keep in mind that with chaos, disorder and overwhelm rampant in our culture, people crave and are attracted to systems that make it easy for them to get their needs met and their problems solved. I recommend taking a good look at how you work with clients and transform what you do into a compelling, simple system. You’ll be surprised at how easily this helps your potential clients understand how you can help them.
Here’s How To Put It All Together…
You’re only three or four conversations away from your next three clients. All you need to do is put together your clear, specific niche description with a few of the results you help clients achieve and finish up by saying how you have a simple x-step system that helps your clients achieve those results.
So, what are you waiting for? Give this simple system a try and send me an email letting me know how well it worked for you. You have nothing to lose and new clients to gain!
About the Author:
Kendall SummerHawk, the Million Dollar Marketing Coach, is an expert at helping women entrepreneurs at all levels design a business they love and charge what they’re worth and get it. Kendall delivers simple ways entrepreneurs can design and price their services to quickly move away from ‘dollars-for-hours work’ and create more money, time, and freedom in their business. For free articles, free resources and to sign up for a free subscription to Kendall’s Money, Marketing and Soul weekly articles visit www.kendallsummerhawk.com.

Categories
Sales & Marketing

Selling to Purchasing Departments

Selling%20to%20Purchasing%20Departments.jpg
One of the most difficult parts of a salesperson’s job is dealing with purchasing departments. Whether you are a new salesperson or a seasoned veteran, you likely will agree that dealing with a purchasing department can create a tremendous amount of stress for a salesperson. Unless you are truly unprepared, there’s no reason for anyone to fear dealing with a purchasing department.
A purchasing department is nothing more than a group of individuals assembled for the sole purpose of trying to save money for their company. The key for you as the salesperson to remember is that even though the purchasing department’s number one objective is to save money, this doesn’t mean they are out to attack you on price.
Purchasing departments view their role as the supply-chain managers. It is their job to ensure the company does what it is supposed to do in an efficient manner that requires as little capital as possible. What this means is very simple: The purchasing department’s job is much more than beating up salespeople. Granted, many purchasing agents do enjoy the thrill of securing a lower price, but that’s no different than you. As a salesperson, you enjoy the thrill of securing a new sale. Accept the fact that the purchasing agent is doing nothing more than what they are supposed to do.
A few vital points to keep in mind when dealing with a purchasing department
* Low price may appear to be what they are after, but if they buy something that’s cheap but doesn’t work, then it’s suddenly anything but a “cheap” item. If it doesn’t work, they now have to replace it. In doing so, they are stuck with a double-cost. Low price is really secondary to the performance of the item they are buying.
* Rarely does the purchasing department have huge amounts of power in a company. This means they’re not at the top of the food-chain. As a result, they can’t afford to upset those above them. Although they may harass you to lower your price, the last thing they want to do is be harassed by others in the company for not buying what those people wanted them to buy in the first place. In other words, purchasing agents will put up a good fight on the surface, but in the end, they can’t afford to upset anyone in the company – regardless of how much money they think they can save.
* Purchasing agents may say they must have a lower price, but in reality their goal is really to save “x” amount of money – and it doesn’t necessarily have to come from you. Purchasing agents will always pick on the salespeople who appear to be the weakest and most vulnerable. This only makes sense, as they are simply trying to manage their time. Therefore, they will secure the savings they need from whomever they believe will give it to them with the least amount of hassle.
Don’t hesitate to call a purchasing agent’s bluff. Purchasing agents love to posture themselves with salespeople as if they control the salesperson’s career. All they are really doing is seeing how far they can push you. Until you stand up to them and push back, they’ll keep pushing you to get additional benefits and lower prices. When a purchasing agent demands a lower price, the only thing they’re doing is going with the demand they know works the best since they know there is almost always flexibility in pricing. It’s the strength and confidence of you the salesperson that is going to be the best indicator as to whether or not they’ll be successful in pushing you to lower your price.
Purchasing agents love to bluff people by saying they will buy from one of your competitors if you don’t lower your price. This actually happens far less than salespeople realize. Upon hearing the threat of going to another supplier, most salespeople will cower and give the purchasing agent what they are after. Too bad the only thing the salesperson has done is give up profit. It’s this type of a response that gives salespeople a bad reputation. The entire time the purchasing manager is demanding you lower the price or they will switch, they know full well how expensive switching to a new supplier can be.
About the Author:
Mark Hunter, “The Sales Hunter,” is a sales expert who speaks to thousands each year on how to increase their sales profitability. For more information, to receive a free weekly email sales tip, or to read his Sales Motivation Blog, visit www.TheSalesHunter.com. You can also follow him on www.Twitter.com (TheSalesHunter), on www.LinkedIn.com (Mark Hunter), and on his Facebook Fan Page, www.facebook.com (The Sales Hunter).

Categories
Sales & Marketing

Do those long-copy sales letters actually work?

Do%20those%20long-copy%20sales%20letters%20actually%20work.jpg
This is one of those questions I get ALL the time.

“I never read those long-copy sales letters. They can’t possibly work, can they?”

“MY target market doesn’t read those long-copy sales letters, they want shorter letters.”

“I can’t imagine anyone reading that much.”

And so on.

Okay, before I get around to answering the question, let me quickly explain what a long-copy sales letter is. It’s those sales letters that are dotted across the web where you have to scroll down and down and down before you finally find the price.

Yeah. You know the ones.

So do they work? Yes they do — IF they’re done right.

Here’s the thing. The reason they work is NOT because they’re long. Length doesn’t equal sales. What DOES equal sales is if you properly answer all of your ideal client’s questions and objections and demonstrate your product/service/program will solve your ideal client’s problems.

And all that takes words. How many words depends on how expensive an investment your solution is.

Think of a conversation. Let’s say it takes you 30 minutes to have a sales call with a prospect. Well, if you take that call and transcribe it,

it’s going to be around 10 pages long depending on how fast you talk. And that’s just one person.

Now you have a call with another person selling the same program. That person asks different questions, but it’s still 30 minutes. Now you have 20 pages worth of transcripts.

Are you starting to see how the long-copy sales letter gets so long?

Granted you’re probably not going to hear completely different questions time after time. But you can see how the pages will start to add up. (The reality is, a sales letter is actually much shorter than any of your one-on-one sales calls.)

Okay, so now you understand how these letters get so long. But what about the whole “you-don’t-read-them-or-your-ideal-clients-don’t-read-them?” Well, I have 2 reasons why that happens:

1. You’re not the ideal client. I don’t care how great or how poor the sales letter is, if you’re not the ideal client, you’re going to have very little interest in reading the letter. (And here’s the kicker — reading is a hypnotic activity, which means you don’t remember when you ARE reading but you DO remember when you don’t finish something. So you’re going to remember all those half-read sales letters much more clearly than the ones you actually finish.)

2. The sales letter is poorly written. This is probably even more common than the first one. Look, you can’t bore anyone into buying anything. And there are a lot of people who don’t understand the long-copy sales letter, so they simply throw a lot of words on the page and hope for the best. That is NOT how to write a sales letter. You need to connect with your ideal client and do it in such a way that they feel compelled to keep reading. A whole bunch of words ain’t going to make the sale (especially a whole bunch of boring words that don’t inspire anyone to do anything).

Bottom line — studies have shown over and over again that long-copy sales letters sell more then shorter sales letter. (Just as long as they’re well written.) So, even if you don’t completely understand it, don’t worry about it. Give your ideal clients what they want to make a decision to invest with you — a well-written, interesting long-copy sales letter.