Building Long Term Relationships With Your Vendors
It’s extremely important to build relationships with your vendors. By doing so, you can bring in new customers and clients and increase awareness of your company branding.
The people you work directly with on your products and services are really the ones with the most to gain when you find success. By taking the time to get to know them, you’ll find many opportunities you didn’t realize were there.
Look for great ways to offer your vendors rewards for helping grow your business and everyone wins. One of ways you can do this is by offering performance based incentives that are much larger than their normal charges.
Here’s a step-by-step process so you can put together a partnership with a vendor:
First, approach all the vendors you work with and offer an incentive based on performance. Next, put together a generous incentive plan together from their perspective. You may even take suggestions from them on what would motivate them. Now, develop a clear, concise and easy to track incentive plan. By doing so this will increase competition between vendors and also produce higher performance levels. Who doesn’t like a little friendly competition?
Don’t forget to encourage subsequent sales, too, instead of focusing only on the initial sale. By doing this you can give away more of the profit from the initial sale to your vendors and make higher profits off the back end products. So be sure to encourage future sales, upsells on more profitable products or services, and cross-selling over to additional products.
When you create an incentive plan that’s irresistible to your vendors by offering generous, exclusive compensation you both win!
Just think of all the vendors you work with and the creative ways you can put together an incentive plan that will entice them to be part of your business. Use their talents, capabilities and connections and you’ll both be winners.
Putting together an incentive plan doesn’t have to be a complicated process. Use our FREE test drive to come up with some great ideas and put your incentive plan together for maximum results. For more information and your free test drive, go to www.profitcatapultbusinessschool.com
Using Direct Mail and Telemarketing Effectively In Your Business
Today you’ll learn how to use direct mail and, yes, telemarketing, to your full advantage. I know, the word “telemarketing” might as well be a four letter word to some, but there is a way to help customers feel like they are getting personal attention and keep them from blocking your number!
With the success direct mail has had and the availability of computers, these can be used as a powerful marketing tool for your success. Telemarketing is best used for high priced, high margin products or services.
Let’s first go over the eight key steps to putting together a highly effective direct mail program:
First, list all the benefits your customers will get from the purchase of your products and services. Then, pick the single most powerful benefit out of that list. Next, build an attention-getting headline around that benefit. Remember to use emotion and fulfill the desire of your customers, whether it is to be young, wealthy, desired, popular or successful.
The next step is to develop a sales letter using the headline you created to grab attention, provide information and motivate customers to act. Now put together supplementary items, such as a brochure, order form, reply envelope or note that encourages them to read the letter. Go ahead and rent or purchase a mailing list. Make sure to compare your cost of mailing vs. your cost per order. Continue to test and refine your direct mail marketing plan.
You can see how direct mail will help you find a local or even national target market to send your message to and draw in new clientele and customers. Fine-tuning and continuously testing your marketing campaign will yield better results and therefore, lower the overall cost of the campaign.
To be successful in telemarketing you need to do a couple of things. The first is to put together a plan, so you know exactly what you want to accomplish during the call. Then, develop a list of topics to discuss and the questions you want to present around these topics. In your script, include an area where you check to see if you are calling at a good time.
Make sure to include enough questions to keep the conversation interesting, but not too many to sound like you are interrogating. One of the ways to do this is to start with broad questions and narrow your focus as the conversation continues. You can also offer feedback to show them you are paying attention and appreciate their time. Make sure to not insult their intelligence or manipulate them.
Always listen first, talk second. And be relaxed and conversational.
Telemarketing doesn’t have to be the trauma it’s made out to be. You can put together an honest, personal and effective telemarketing campaign that is endearing, informative and gets the job done. Think of how you would want to be treated on a marketing call. Ask your friends and family what they hate most about the telemarketing calls they get and work hard to craft your message in a better way.
Jay Abraham says, “When selling by telephone, you have approximately thirty seconds to convince the customer to listen to you. You need an opening statement that captures their attention, conveys who you are, what you want and why the prospect should listen.”
It’s easy to see how direct mail and telemarketing can positively affect your business by bringing in new customers and increasing the level of awareness about your products, services and company. Our FREE test drive offers the resources and tools you need to work through these processes and put together the best marketing plan you can. For more information and your free test drive, go to www.profitcatapultbusinessschool.com
13 Tips On How You Can Control Buyers Remorse
Today I’d like to talk about how to turn prospects into customers and how to keep them! While your marketing is bringing more prospects to you, you need to be working on turning those prospects into customers. There are a few key ways to draw them in and seal the deal. You need to be Inviting, Informative, and Enjoyable!
The biggest fear of most new customers is the dreaded buyer’s remorse. You know the feeling: you just bought a large purchase, you get it home and then you think, what have I done???!!! As a business owner, you want to avoid this at all costs and as long as you provide a quality product or service that delivers on the marketing claims you’ve made, you should be fine.
However, buyers remorse CAN still occur. There are two ways to deal with this:
1. You can offer to refund money with a “no questions asked” policy.
2. You can offer a bonus they can keep, even if they return the product.
These offers alone will also help control buyer’s remorse because the customer will trust you more, just for offering these things.
Some other ways to turn a prospect into a customer are to offer a special price as an opportunity for you to test the market. Offer a lower price with a reason why you are offering the special rate. For example, to push inventory to pay a tax bill, for your kid’s’ braces, or another tangible reason. Customers love this because it makes you feel so much more human.
You could also offer a referral incentive. Or, how about offering a smaller, more inexpensive product first to build trust? Another option to control buyers remorse is to offer package deals. Or you can also offer to charge less for their first purchase if they become a repeat customer. What about offering extra incentives, like longer warranties or free bonuses if ordered by a set date?
You can offer financing options, if applicable, or offer a bonus if they pay in full. You can offer special packaging or delivery. You could even consider offering a “name your own price” incentive! Some other offers could be comparative data or other comparison tools, offering a trade-up or upgrade to something they already have or additional, educational information to help them make their decision.
The options really are as limitless as you make it. You can use these or other ideas to find what works the best for your business, products or service and target market.
Jay Abraham says (and he’s so right), “By making it inviting, easy, informative, non-threatening, educational, inspiring and fun to do business with you, you’ll loft your company above the competition.”
Do you need help figuring out the best strategy for converting your prospects into customers? Our FREE test drive gives you exclusive access to a mountain of resources and tools and information. For more information and your free test drive, go to www.profitcatapultbusinessschool.com!
Five Secrets To Writing Great Copy
There are 5 major components to good advertising copy and the order of these is essential to success!
You must:
• Command Attention
• Showcase the benefits of your Products or Services
• Prove the Benefits
• Persuade People to Embrace the Benefits
• And finally, use a Call to Action – ask the customer to DO something right then!
Advertising is sales in print. So, you need to think about the unique benefits your products or services offer and showcase that in a persuasive way. You need to emphasize results, not features.
Let’s take a minute to talk about each of these components:
1. The first thing you must do is get the Attention of you customer! This is usually accomplished with the headline. You need an attention-getting headline that makes people want to know more about your product or service. The best headlines give you the benefits or show how a problem can be avoided by using your products or services. The headline is the advertisement for the advertisement.
2. You MUST showcase Benefits: You have to showcase the benefits of your products and services and, more importantly, show how they will solve or prevent a problem. It needs to answer the customer’s question: “What’s in it for me?” Be sure to include useful, factual and clear information to show precisely what the benefits are and how they are going to help the customer.
3. Next you need to offer proof. You must establish that you’ll deliver on your promises. The proof you use should establish credibility and show your past accomplishments.
4. Once that is all done you need to persuade your potential customers. You’ll need to add compelling reasons for your potential customers to purchase your products or services. At this point, I suggest using a hard sell approach and creating scarcity. This will make your potential customers feel like they have to act now, which leads into the last component.
5. The last component is a Call to Action. You need to compel your potential customers to DO something. You need to tell them what to DO. It may be that you want them to check out your site, sign up for your newsletter, purchase your products, contact you about services…something. Offer them a freebie – a free report, a sample, a product, a bonus, a demo, a consult, limited time pricing…the list goes on. There are lots of ways to get potential customers excited about ordering and help them feel like they are getting an amazing deal.
Good advertisements include all of these components and are not complete without any of them. You can sit down and think through any one of these components, then figure out how to put them together for the most effective response. We can help you with this, too. Try our FREE test drive to learn how to put together great ads. For more information and your free test drive, go to www.profitcatapultbusinessschool.com!
Direct Response Marketing Is The ONLY Way To Go!
Direct response marketing is marketing that is measurable, trackable, and demands a direct response from your potential customers. This type of marketing is used to answer questions, present your products, and to introduce the reason you do what you do. Customers love this, as they are offered the opportunity to respond, whether that be in the way of signing up for a newsletter, posting a comment on your site or blog, participating in a survey or purchasing a product from you.
So, what does direct response marketing look like? Well, it comes in many forms, including direct mail, print ads, radio and TV ads, coupons or other incentives…even telemarketing!
The biggest reason to use direct response marketing is because it offers measurable results so you know exactly what IS and what IS NOT working as compared to traditional advertising, where it’s all about building your “brand.” If you are a small company, you must be able to track your marketing dollars back to what works.
Some other advantages of direct response marketing are that it’s a productive way to communicate with your customers and gives you the opportunity to create more relationships. It’s a great way to up-sell and cross-sell to current customers. Direct response can be used as leverage to turn small sales into large sales. Direct response is a cost-effective way to reach specific target markets and it helps you reach outside your local area for new business. Lastly, direct response increases the effectiveness of your sales force.
These are all the great things that can come together when you put a direct response marketing plan in place and execute on it.
Jay Abraham says, “I honestly don’t think you’ll ever find a safer, lower-risk, higher-profit method of increasing your business or profession than direct-response marketing.”
Direct response marketing is one of the best ways to launch your business on a large scale and reach out to everyone in your target market whether they are in your local area or not. Our FREE test drive can help you put together a great direct response marketing plan and get you on your way to success. For more information and your free test drive, go to www.profitcatapultbusinessschool.com!