Archive for: June, 2023

The Missing Ingredient in Your Marketing That Will Make All the Difference

Jun 19 2023 Published by admin under Uncategorized

In school, during both my undergraduate courses and my MBA classes, I took Marketing 101, or something close to that. I learned the four P’s: product, price, place, and promotion. I aced the class.

When I started my first business at age 13, I ran an ad and was able to get clients. It was no big deal. When I wanted to earn some part-time money during college doing bookkeeping (before I passed my CPA exam), I answered an ad and found clients. It was no big deal. When I started a part-time photography studio in the 1980s, I sent out press releases and direct mail and got clients. It was no big deal. I was doing all of this on the side while I had full-time jobs paying the rent and everything else.

But when I got laid off in the 1990s and needed clients in order to go out on my own and pay my own rent, something in me snapped. I was scared to death. I suddenly had no idea how to get started getting clients. I could have run an ad, but I didn’t. I could have sent out direct mail, but I didn’t.

It wasn’t that I didn’t know the nuts and bolts of marketing. I did.

It was that there was an ingredient to marketing that was missing for me. The problem with marketing is that you can take all of the Marketing 101 classes in the world, but still be lousy at marketing and not have enough clients as a result.

The problem is that there is an ingredient missing they don’t teach you in school, and that’s confidence.

What made marketing harder in the 1990s for me were three things:

It was important. My business now had to pay the rent. I had to live off of my own self-employment for the first time in my life. This is pretty scary to most people.
I was selling myself. I was no longer selling bookkeeping, photography, or horseback riding lessons. It was personal. When they rejected my business, they rejected me.
I had the know-how, but I didn’t have the mindset. I lacked the level of confidence I needed.
As an entrepreneur, here’s where you need to be completely honest with yourself. Ask yourself how much of your marketing challenges are:

From lack of hard skills. Do you have no idea where to begin, really? You don’t know what networking is, you don’t know how to hire a webmaster, and you don’t know how to get your business cards done? This requires a Marketing 101 class.
From lack of implementation. Do you know you need to go to networking meetings but you don’t? Do you know you need to send out direct mail, but don’t? Do you know you need a web site, but haven’t updated it? This requires a Marketing and Mindset 101 course. You need a mindset shift along with what to do. You need a boost in confidence and a support system that will help you change your reluctance to market.
Here’s a great example of what you need in #2: A regular marketing course will give advice such as “You need to have a follow-up system.” A marketing course with mindset coaching will give advice like, “You might feel like you are bugging them if you follow-up. Here’s how to get around that.”

It’s not easy to develop the confidence to sell yourself. It’s tough. Even after 16 years of self-employment for me, rejection hurts. Losing the prospect is painful. Criticism aches. Returns are bummers. Even unsubscribes sting. But life and business go on, and you learn to deal with it in a constructive and businesslike manner. Most importantly, you can’t let it throw off your rhythm. You have to implement; you have to execute.

You’re unlikely to get rich in this economy with just the hard skills of marketing. Having the right marketing mindset, with confidence, is the missing ingredient that will make you incredibly wealthy.

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Internet Marketing – Home Based Businesses Choosing the Right Marketing Strategies for Quick Success

Jun 19 2023 Published by admin under Uncategorized

Whenever I have a new member starting on my team I always get the question from them as to what internet marketing strategies should I use? That is always a valid and a very important question to ask. In this business utilizing the marketing strategy which is just right for you will ultimately determine your success in your home based business.

So getting back to answering those two key questions. What are the best internet marketing strategies and how many different ones should you use? Well lets start with the second question first. The advice I always give to my new members is to use from one to three strategies. You really don”t want to go off into too many different directions. You really don”t really want to focus on too many things at once.

The key here is to focus on one thing at a time, acquire the knowledge and skills and get really good at it. If you try too many strategies at once, at best you will become mediocre in your internet marketing. By focusing on one or two strategies you will become a master in no time and believe me you will see the results.

Now getting back to the first question. What are the best internet marketing strategies? I always recommend using at least one direct response marketing strategy. That is what is always going to get you the quickest and best response, and the largest lead flow. These strategies would include article marketing, video marketing, blogging or e books. When talking to my new members I always stress the importance of passion. Having a true passion for what you are doing will have a direct impact on your success in your internet marketing home business.

You know there are so many things that I really love about this industry. Now of course there is the obvious, the serious money that I am making. But second to that is the fact that I truly love what I do. The fact that I look forward to getting up early in the morning, sitting down at my desk and getting busy. I really enjoy using my God given creative talents and totally immersing myself into my business marketing. Where so often I get so involved I lose track of the time. But you know what I’m having fun doing what I do.

So the bottom line here is this. Pick a marketing strategy that you have a passion for, that you really enjoy. Have fun at what you do. It will ultimately show in your internet marketing results. And your business success will be massive.

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Demand Generation Marketing Strategies

Jun 19 2023 Published by admin under Uncategorized

Demand generation relates to a multitude of both strategic and practical sales & marketing activities. There are no rules as to which ingredients or sales and marketing strategies best fit a business’ needs and it is often a combination of both judgment and years of experience which allows organizations to formulate the right mix for their sales & marketing development strategy. There are professional demand generation specialist companies whom provide this consultative type service as a means of guiding organizations, and they often play a key role in ensuring that a business is given the right guidance, market intelligence and sales tools – thus being able to implement an extremely effective sales development business process and strategy in line with their clients unique requirements.

Demand generation is a philosophy which comprises the importance of utilizing the right mix of professional sales tools, services and techniques – thus being able to deliver an extremely effective sales business development model and strategy. The whole philosophy is one of which should take a bespoke and methodical approach towards the whole business development sales infrastructure, and should ideally incorporate: strategy, clear objectives, structure & direction, realistic market potential, market positioning, the right marketing mix, promotion, awareness, creating perceptions & expectations, market penetration, lead and appointment generation, potential to achieve market saturation, visibility of your industry and competition, tighter strategic control, business direction and a clear pathway to pole position.

The importance of implementing a water-tight demand generation strategy is critical in ensuring the success for any organisation. Many companies follow generic sales & marketing related routes, however, unless they utilise the right mix of activities, then this can be an expensive process and a major drain on critical company resources. Other benefits with getting the marketing strategy right; will result in an organisation achieving a far higher advantage over their competitors.

A demand generation strategy should have clear objectives and a realistic understanding of its market potential. Also by setting these objectives and strategic targets – this will allow organisations to work more closely together towards achieving company goals.

Lead generation and appointment generation which uses a high level of qualification, is often at the heart of a productive demand generation programme. These activities can often be easily measured as to their effectiveness and direct impact on the growth of the company’s sales visits, market penetration, market awareness, increase in quotations, plus a boost in annual sales revenue and profitability.

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Stop Loss Orders Don’t Work for Directional Options Trading

Jun 19 2023 Published by admin under Uncategorized

I’m sure you have heard that one of the best ways to control risk is to use stop loss orders. Well if you are trading options directional, stop loss actually guarantee that you will loss money. Just to be clear I do believe that you have to have systems & strategies in place that control risk and minimize your losses. But stop loss orders don’t work when in comes to trading options. If you have ever been in a position where your stop loss order was triggered just to watch the stock recover a few days or even hours later. then you know what I’m referring to and trust me I have been there. It can be very frustrating, to say the least, your left with a realized loss in your account and no position to take advantage of a move in your direction.

From my own trading experience and working with other options traders, I have found three main reasons why stop orders don’t work in directional options trading, and in fact will cost you money.

There are many factors that go into the pricing of an option one being implied volatility. Changes in implied volatility will result in changes in option pricing. News events may result in sudden, and temporary changes in implied volatility which will result in changes in option pricing. These changes in implied volatility create situations where stop loss on options can be triggered even if the stock or etf are still performing to your satisfaction.
The second problem with using stop loss orders on options, is time decay. When you buy a option each day that goes by you have time decay working against you. When price action doesn’t go in your favor you have a double edge sword working against you. Not only is the price action going against you but the option is also losing value due to Theta. This creates a situation where options are losing value at a faster rate than the underlining which can result in your stop loss being triggered.
Market volatility & computer driven markets make stop loss even more dangerous. The simple fact is that market volatility can move prices below or above a certain level triggering stop loss orders. These moves many times are temporary and can be driven by computers. The best example of this was on May 6 where we saw the DOW drop 1,000 points from computer trading, just to recover s few minutes later.
The fact is that options are not stocks and they have to be traded differently. If you are trader that wants to use options to take advantage of market, sector, or stock trends, we recommend option strategies that enable you to reduce the effects of market volatility, implied volatility, and time decay.

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4 Crucial Affiliate Marketing Tips

Jun 19 2023 Published by admin under Uncategorized

If someone told you to venture into internet marketing and online entrepreneurship because you will “get rich quickly and easily”, you were most likely lied to. If internet marketing could make every Tom, Dick and Harry a millionaire just by clicking a few links and writing a few paragraphs, I would wonder what the rest of the population’s standard of living will be like. Making money on the internet isn’t rocket science, but neither is it a stroll in the park. Time after time, entrepreneurs remind novices and beginners that all this takes time, effort and more importantly determination. The ability to bounce back from setbacks is what differentiates a successful online marketer and a mere online marketer.

The topic-in-question in this article is the popular method used and mastered by countless successful online marketers: Affiliate Marketing. Take note of the word “mastered” in the preceding sentence. It is no easy task to undergo Affiliate Marketing and come out on tops just by sitting by your Apple Macbook or Window’s desktop waiting for money to flow in. Easy money is not earned by individuals, easy money is given on a silver platter by an already wealthy predecessor. Hard-earned money is earned, well, the hard way. Do not fear though, Affiliate Marketing can be an easy and practical method if employed correctly coupled with patience, determination and continual progress in your field.

What exactly is Affiliate Marketing? In a nutshell, it simply means to promote a company’s product and thereby earn commission-based salary from the sales. Let us examine the common methods used by online marketers which have worked

1. Direct traffic using various means

Use a basket of methods to direct traffic to the product you are promoting. It is rather simple, as the more traffic you get, the higher the chances of sale of products and thus the higher amount of money you receive from this program. Use a variety of methods to gain traffic. If you wish to limit you expenses or simply employ a cost-free method, use your talents to direct traffic to the website. If you are able to write informative reviews on the product, by all means submit your articles to articles directories such as GoArticles.com or EzineArticles.com by finding the write category. The advent of social networking sites like Facebook and Twitter allows you to connect to a wider audience as well as provide you with an already established community of individuals who might have already created a “group” or a cyber-community dedicated to the product-in-question. Furthermore, you can venture out into forums and message boards related to your products to rope in visitors and patrons. You must always remember that in order to bring out the best of the products, you have to take a genuine interest in the products you are promoting. There is hardly any point in advertising for a product you feel that is not worth the money of your potential customers. There are numerous methods to choose from when looking for sources to bring in traffic, the above mentioned are some of the more popular and practical methods. You can also pay for services to be rendered to you to gain traffic.

2. Take an interest

To further accentuate the information in method 1, always choose a product you have a genuine interest in. You have to convince yourself that the product is worth the money and that you yourself would buy the product. Countless individuals experience sub-par sales primarily because they chose the product simply because of “potential profits” when they themselves are unable to relate to them. By all means, take a product you are intricately familiar with but not as popular with the public and go all out in drawing attention to how this product has convinced you that it is worth each and every cent spent on it. You will soon find that engaging in this sort of Affiliate Marketing is hardly a monotonous chore, but rather you enjoying yourself by sharing your passion with others.

3. Focus on your goal of selling the product rather than gaining views

Yes, click-rate is one factor in gaining an income through Affiliate Marketing but the more important and crucial aspect is the actual sale of the product-in-question. Do not focus your marketing strategies on simply gaining hits after hits but a relatively low ratio of clicks to buying the actual products. Appeal to your patrons if they wish to purchase the product. Advertise aggressively to ensure that the product is bought rather than patronised. Include incentives to the buyers if they purchase through your link, such as exclusive promotions or eBooks which will be worth their time. Never give away freebies just for the sake of enticing your customers but leaving them disappointed when they receive their items.

4. Keep improving yourself

Information and processes never remains stagnant and neither should you. Keep on the constant in learning new ideas and marketing techniques to keep yourself updated to better equip yourself in this online marketing business. A strong appeal of the internet is the unorthodox manner in which it operates, as well as the flexibility of the internet as a constantly changing environment. Thus, do well to constantly mould yourself to the business’ needs to adapt well. Once you are better able to read and predict the trends of not online Affiliate Marketing but internet marketing as a whole, you will be able to manage your strategies and plan them out more evenly and more productively.

Remember, there is never a hard and fast rule to gaining success in any avenue of life, much less internet marketing. Remain determined and fixed on your goal of earning an increasing salary online and you will be able to declare yourself a “successful online merchant”.

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How Do You Feel About Email Marketing?

Jun 19 2023 Published by admin under Uncategorized

Email marketing has become the most reliable method of advertising and marketing. It is among the leading edge marketing strategies offered online. It has improved on the world wide web and is starting to become intensely influenced by the overall state of online marketing. It is one of many varieties of direct marketing and advertising carried out over the Internet. Marketing via email is described as a fantastic strategy in terms of successful low-cost online marketing opportunities.

Electronic mail advertising is among the best performing conversation and advertising vehicles within the net sector. This is a fairly new method of promotion that’s undoubtedly surpassed direct mail marketing endeavors. It is just a kind of direct marketing which utilizes e-mail as a way of interacting with an audience. It is just a method of delivering a potential customer a note over the internet. It is truly one of the most worthwhile advertising tools intended for building customer relationships.

Advertising through emails is probably the best marketing resource offered today. It is now essentially the most applied advertising models on the web today. It has altered the overall costs of promoting and generated a customer relationship in marketing that demonstrates to be far more workable for small business owners. It can be helpful to formulating interactions together with the clients by individualized and related contact marketing communications.

Email marketing is the ideal marketing vehicle for small business to stay in front of their local consumers. It is increasingly used as an effective tool for advertising products on an international front. It is the most cost-effective way to find out which contacts are interested in which products. It offers awesome advantages more than conventional marketing such as improved speed, a lot more versatility and inexpensive. Email marketing is probably the most cost efficient way to offer your company’s sales message to the world.

Marketing via email is cheaper relative to media channels that deliver similar content. It is amongst the most affordable ways of promoting a business, products or services to a targeted market. It is an effective delivery channel for newsletters, promotions and advertisements, announcements, fund raisers, surveys, seminars, and postcards. It is not only supposed to be about non-requested email messages with ads generating crazy promises. It could possibly and genuinely assist both the online and traditional merchant to cutting back marketing clutter.

Email marketing is definitely an economical method to reach a restricted advertising budget.

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Indirect Reverse Marketing Approach Removes Sale Resistance

Jun 19 2023 Published by admin under Uncategorized

The type of reverse marketing I am referencing here can be thought of as indirect marketing. You may also want to think of this method as a reverse approach to generating sales. With an indirect approach, your goal is to attract customers or potential business partners to you, without you having to directly ask them for their business. The desired result is having individuals requesting your service, instead of you making your pitch.

As you probably already recognize, people love to spend, but they don’t enjoy being sold to. Consider this, consumers are making purchases every day, however, not too many like to sit around and chat with a pushy sales person. How frequently do you walk into a retail store, are approached by a sales clerk asking how they can help you? Now, how often do you respond by letting them know, you are just looking? The truth is, you’re not just looking, you are there to buy something, but don’t want to be bothered. You want to buy on your terms without added pressure. This is where reverse marketing becomes a brilliant strategy.

How Does An Indirect Approach Equate To Reverse Marketing?

As I noted, the majority of customers do not want to be pressured into purchasing things. Also bear in mind the fact that people love it when they can claim new ideas. Plus, doesn’t it just feel good when you are the one responsible for making smart decisions and getting good deals? So what exactly am I talking about here? The most successful sales associates are those that understand human nature. Let me share an illustration of a reverse marketing or indirect sales approach.

Result of Not Using Reverse Marketing

You have a product that you market that solves a common problem. The statistics tell you that at least 7 in 10 people are affected by this issue. You not only know the numbers, but you personally know people who complain about this problem openly. The typical sales person will approach that person directly and share all the wonderful benefits of their product. They will also proceed to tell that person how their product will help to solve their personal problem. Lastly, the average sales person asks everyone they know to buy the miracle product. Guess what happens in most cases like this? The sales person is met with resistance, usually followed up with the standard response…”let me think about it.” Now let’s explore the indirect or reverse marketing scenario, using the identical product example.

Result of Using Reverse Marketing

Rather than asking a person to try or buy from you, you reverse the pitch. It sounds somewhat like this. “Hi Mary, you probably haven’t heard, but I just started a promoting a new product in the XYZ field, and am doing some market research, and I was hoping you would be able to help me out with something.” Give her time to answer. Usually if you ask a friend for help, most people won’t deny you that request and will probably answer affirmatively. “Mary, I understand this doesn’t apply to you personally, but my market study is in need of people who are suffering from ABC issues, who can participate in a product test, for the purpose of testimonies. Since this is a pretty common problem Mary, who do you know that has complained about these types of issues?” This reverse marketing or indirect approach eliminates the sale from the process. In reality, you did not pitch anything to Mary, or ask her to test, trial, or buy something from you at all. With this reverse marketing approach, Mary isn’t even a consideration. Let’s get back to the example. If Mary truly is dealing with the issues you mentioned, the door is now opened as she voluntarily provides you with information.

Proceed With Caution – Do Not Reverse the Reverse Marketing Strategy

This is a crucial time in the example. This is the time when inexperienced business owners get excited and their indirect reverse marketing approach unravels. Most people will begin to sell Mary on the product. When you do that, the wall will come up, and Mary will turn cold in a hurry. What you must do at this point is resist the temptation to tell Mary too much about your product. Telling is selling, and selling will reverse this method. Instead, just ask Mary a few questions about her problem in very basic terms. Don’t be dramatic in your responses either. It may sound something like this. “I didn’t realize that Mary, tell me more.” Give her time to expand on her problem, keeping your response limited to mainly confirm for Mary that you are paying attention. Next respond with your intended question “Mary, I don’t know if this will help you at all, although if you would help me out by participating in my test, we will discover together what it does for you and how you respond to it. Will you help me Mary?” Of course Mary will help you out, because she could also be helping herself at the same time!

The reason the indirect reverse marketing approach works so well, is because it is founded on pure human nature, as illustrated, Mary willingly participated. It was her idea, as she brought it to your attention. You didn’t have to sell Mary anything.

The Indirect Reverse Marketing Close

When the person begins to ask for more information about the product or what to expect, reply very succinctly. Avoid getting into a lengthy conversation with her about the details. If you engage in providing more details, you fuel further questions, and more details leads to paralysis of analysis. Giving people too much to think about again reverses your reverse marketing approach. A best practice for this situation is to have a piece of literature with you that you can give with the product. Preparation allows you to address their concerns, without having to get involved with a sales presentation. Respectfully explain to the person that you don’t want to bias their trial with details. It will be of greater benefit to approach the trial without preconceived ideas, so you both can get a true measure of how it is working.

Always follow your reverse marketing approach with close follow up. You’ll need to stay in touch with people in order to document their results. The indirect approach gets the product into your customer’s hands, but the final sale is determined by your follow up.

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Direct Mail Tips for Auto Dealers

Jun 19 2023 Published by admin under Uncategorized

Beyond the 90-Day Mark: Auto Dealers Keep the Personal Connection Alive with Direct Mail

It may (or may not) be scientific, but it’s sort of a marketing mantra in the auto industry: the average customer has the ability to influence the buying decision of 10 other people. Yet most customers don’t remember their salesperson’s name just 90 days after they’ve bought the car.

If that is the case, what’s to keep the customer from going to a different salesperson – or a different dealership altogether – when they’re ready to make another purchase? And while they might tell 10 friends about how much they love (or hate) the make and model of their new car, they can’t remember to tell friends about the salesperson.

Fortunately, there’s a remedy – an easy and cost-effective way to stay top-of-mind with past customers beyond their 90-day memory span. It’s regular direct mail communication. Direct mail can help the auto dealer (and any other business, for that matter) stick in the customer’s memory – so that when a friend asks “So where did you buy the car, and who from?” the salesperson’s name and dealership come easily to mind.

In addition to building relationships between customers and auto dealers (and their sales people), direct mail can also work well in driving service business, and in bringing past customers in when they’re ready to trade in. We’ve listed below four ways an auto dealer or salesperson can use direct mail to stay top-of-mind and influence future buying decisions.

1. Give customers news they can use. It used to be that most people could change their own oil and brakes, even make minor repairs on their own cars. It was simply something people knew how to do. Not so anymore. Perhaps it’s because we’ve all become so much busier, or because cars have become so much more complicated, but today’s consumers need you to help them stay informed about what’s going on with their cars.

With flyer self-mailers, you can easily, quickly, and cost-effectively create a newsletter to send regularly to your customers. Consider including:

A general maintenance schedule – how often to change the oil, rotate the tires, check the brakes
News on recalls, upcoming models, and other up-to-date information
Coupons for service
Some kind of information that is “personalized” for the dealership and sales representative – remember that it’s about the personal relationship
2. Send personalized service reminders. Honestly, who among us would remember to get the oil changed or the brakes checked if it weren’t for the service reminder we get in the mail? Take the opportunity to foster the personal relationship – include the salesperson’s photo with a personal reminder to take care of that [customer's make and model here] – from your database onto your mailer – quick and easy.
3. Promote sales events. A postcard is a great way to send a personalized promotion for your sales event. Segment your list by the type of vehicle the customer has purchased, then send slightly-different postcards to each segment of your mailing list. So those who have purchased minivans, for example, get a postcard with a shot of your latest-and-greatest minivan. Those who have purchased a sports car get a postcard specially designed for them. In an environment when many auto dealers send sales promotion postcards, making it personal is a crucial way to stand out.

A picture postcard is a great way to both promote your sales event and reinforce the personal relationship your customer has with their salesperson and your dealership. Advertise the sales event on the front of the card, then include the salesperson’s photo, name, and contact information on the back.

4. Send a refer-a-friend reply card. If customers are happy with their experience at your dealership, they’ll likely refer you to a friend – if they’re prompted. Make it easy for customers to do by sending a refer-a-friend reply card. Tell the customer that you hope they had a great experience buying from you (and that they’re enjoying their new wheels) and ask them to help spread the joy to their friends and family. If you use a business reply card, all your customer has to do is fill in the referrals’ contact information and drop the card in the mailbox.

Many of the biggest dealerships – including yours, perhaps – can buy into their manufacturers’ direct marketing programs. But they’re notoriously expensive and, worse, they tend to focus on branding the manufacturer (Ford, Toyota, or Volvo, for example) rather than the dealership or the salesperson (and remember, it’s all about the personal connection).

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Most Popular Reverse Marketing Strategies

Jun 19 2023 Published by admin under Uncategorized

Seeking answers about reverse marketing is rather perplexing. In doing my own research, here is what I have found. I found multiple sites geared towards providing direction for reverse marketing. It was obvious that if you pose this question to a few people, most likely you’ll hear a few very unique answers. I believe the variation in responses is related to a particular industry a person may be working in, or they simply don’t know and they are guessing. My objective here is to shed some light on this subject and give you the most common ways in which reverse marketing is actually used.

Diverse Reverse Marketing Ideas

Given that you will hear assorted answers from different people, I decided to list a few of the answers a few sites give as to what reverse marketing is or how they use it:

Reverse Market To Marketing Intended For You

Use received advertisements to reverse market your products or service to the promoter. With this avenue, individuals are suggesting that you don’t discard an occasion to promote to people who are sending offers to you. Example: you receive correspondence promoting a business or product. Rather than disregarding it as junk mail, you reply back to the promoter with information about what you have to offer. Although some would consider this type of reverse marketing as an unwise use of your time, it could be useful if done right. You first need to ask yourself what this person or business is interested in gaining by sending you information. Next, consider how you, your products, or services can help them reach their goal. As an example, if there is a connection between what they do as a company, and what you do in business, you may respond back with a piece of literature suggesting how you could help them to increase their sales or profits. Your response needs to be applicable, or it will be a wasteful use of time, and your offer will also hit the garbage can.

Email can also be used for this reverse marketing strategy. A basic guideline in using email for reverse marketing is to always promote offers related to what each person really could use. Merely blasting replies to individuals sharing your next best thing will not yield good results, actually, the outcome will not be desirable. Don’t irritate people by replying with something vague like – “thanks for your information, I thought you might be interested in….” Be different, learn what they do, and respond with an educated reply showing them how or why the tool you are sharing could actually help them, if it truly could. People will respect you more if you take the time to learn about them.

Reverse Psychology Reverse Marketing

This is another form of reverse marketing where you literally use the opposite of a direct sales pitch to pitch your product or service. It is more of a “take away” approach. For instance, let’s assume your ideal prospect is men of a particular age group. Your ad campaign candidly states “women age thirty to fifty only, men look no further.” Guess what? Because your ad states it is not for them, they become more curious, and now since it is not available to them, they have to know what it is. If you are looking for a competitive type personality or the type of person who loves to prove people wrong, they will want something more if told they can’t do it or can’t have it. It is human nature.

Imagine this scenario. You call or text one of your close friends. He or she answers and you tell them you have something huge to tell them, and you can’t wait to share it with them. Before you tell them, suddenly something comes up, and you tell them you’ll have to explain later and hang up. It won’t be two seconds before that person refuses to go until you share with them. When things are made too available or too easy, the value decreases.

Another form of the take away approach is by literally taking away your product or opportunity from a person. This type of marketing is only successful when used with the right personality type, the type of person who will not let people decide for them. Let’s say you have a person you are speaking with about your business opportunity who seems interested, yet seems to be somewhat of a maverick. Maybe you could consider this individual a “big fish” however, they don’t seem to want to cooperate with your process. Rather than chasing and convincing this person, you respectfully let them know despite their strengths, they may not be your ideal candidate. If you tell a big shot, they may not make the team, what do think their response will be? “Hold on, what did you just say?” Confidently, you continue telling this person your business is not for everybody, and because of the significant nature of your venture and the serious compensation involved, you can only accept a particular type of person. Naturally, the next question will be “what type of individuals are you looking for?” You respond again by letting them know you are looking for people who are willing to be trainable and submit them self to learning your system before going out on their own. This is the point in the process where that big shot starts to convince you that they are exactly the type of individual you should be working with, and they sell themselves on your opportunity. Again, this only works with someone who is competitive and success driven.

Reverse Marketing or Attraction Marketing

My favorite form of reverse marketing is actually attraction marketing. This type of reverse marketing is where you utilize a system that causes people to want to do business with you, without you directly asking them. With attraction marketing, you indirectly market and brand yourself, making yourself valuable, through providing solutions and answers to people before they ever learn about your offers. The objective naturally is to market your product, but it is done in a way that doesn’t shout out “I am a salesperson.” This type of reverse marketing generally uses options such as article marketing, video marketing, social network sites, blogs, and search engine optimization for personal branding. The purpose is to compel people to hunt for you, instead of you chasing them. When people have gained something of value from you, they are more inclined to want to partner with you and reciprocate.

While studying reverse marketing options, I found that although the sites were numerous, the real strategies were conflicting. Reverse marketing is capable of producing real profits if employed correctly. Relevance and value driven systems are fundamental to the success of any reverse marketing strategies. When you solve a problem for people and give first, it opens the door for them to reciprocate.

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Why Market Research Is Critical to Business Success

Jun 19 2023 Published by admin under Uncategorized

Many people, when they first start a business, believe that ‘if they build it, they will come.’ While that may have worked in the movies, however, in business, just opening your business does not guarantee that it will be a success.

Even if you have a brilliant business idea, offer top quality service, and exceptional products, your business can often fail, through no fault of your own. The key to avoiding that lies in doing market research long before you ever open for business, and to keep doing it as your business grows.

Every business has a target market. This could be very general, such as a particular geographical area, or more specific, based on age, interests, gender, or other factors.

Market research allows a business owner, or potential business owner, to figure out whether their target market will be able to sustain their business, and this is done in several ways, all of which are aimed at giving you a better idea of how your sales are likely to look once your doors open for business.

One of the most basic tasks involved in market research would be to determine how many direct and indirect competitors your business will have.

For instance, if you are planning to start a fast food business, you could drive around your neighbourhood, and count how many competing stores there are. If there are five outlets on one block, it is probably not wise to try and compete with an already saturated market, and you would probably want to move your business elsewhere. On the other hand, if there are no stores in the area you have chosen for your business, then you will probably have enough business to sustain your store.

It is not only direct competition that you need to worry about though. Using the fast food example again, you would also need to look at related businesses, that are not direct competitors. Perhaps there are supermarkets that supply ready cooked meals, or maybe there are coffee shops in the area. Either of these could be factors in the success of your business, and should form part of your market research.

Next, there is the issue of passing trade. Some businesses, like doctors, lawyers, plumbers and builders, do not rely on passing trade, so they are not concerned if there is not a lot of traffic in their chosen area. If, however, you are planning to start a retail outlet, a food service business, or another type of business that relies on people passing by for business, then you might want to spend some time monitoring your chosen location, to see just how much business you are likely to get.

Another part of market research involves speaking to your target market themselves. This might be done as a survey, or you could try cold calling potential customers, to find out what their reaction to your proposed business would be.

All of these market research tasks have one goal: to collect enough data about the people that you hope will buy from your company to be able to determine whether your venture is likely to be a success or not.

Extensive market research helps the small business owner to find out whether their current business plan will succeed, or whether it needs work. You may find that while you are doing market research, you discover that a different location will be better for your store, or that your target market would prefer slightly different products to the ones you are planning to offer.

You may discover that your potential customers are more or less affluent than you thought they were, and that may affect your purchasing and pricing strategies.

The reason this is done before you start your business is so that you can alter your business plan to suit the needs of the community or industry you are planning to serve, before you start spending money implementing your business plan. It can also give you insights into what kind of marketing strategies will work best for your business, and show you who your competitors are, and what their strengths and weaknesses are. The more data you can assemble on your chosen market, the easier it will be to address problems, and find new solutions before you make costly mistakes.

In fact, far from being an academic exercise, market research is a means of discovering whether your assumptions about your business are correct, and identifying the main issues you need to address.

Every small business owner has a deep-seated fear of failure, but if you do enough market research, you will know who you are up against, and you will know who you are selling to. From there, there are plenty of things you can do to help prevent that kind of failure. That is why market research is not something that you should do if you have the time, but a crucial part of your business planning process!

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