Tune your Ad Copy for the Recession

Source: eGrabber Newsletters

A tight economy does not mean buying and spending will cease altogether. It is only natural for people to be more and more cautious with every dollar they spend. Considering this, you will have to tune your ad copy to meet the expectations of cautious buyers.

Focus on the ROI: Let your prospects know exactly what they will get for the dollars they spend. Use verifiable customer testimonials like never before; cautious buyers look for those. Let the benefits you outline be objective and data-driven. Adopting these can help your reach across better to your prospects.

Nurture your Prospects

Source: eGrabber Newsletters

Not all prospects make an immediate purchase, especially in a B2B environment. In the case of high-end / expensive products, the decision to buy could take days, weeks or even months. This behavior is even more pronounced in a slow economy. But, eventually when your customers buy, they buy it from the person or company that helped them most with their buying decision or from those that stayed on top of their mind.

Hence, it is important that you nurture your prospects and leads. Make efforts to stay connected with them in a meaningful manner. Send, at least once in 2 weeks, information they might find interesting and useful - white papers, articles, tips, etc. Make it personalized. This keeps your leads warm, and you on top of their mind, until the right buying time.

Give Serious Thought to Drip Marketing Campaigns

Source: eGrabber Newsletter

Drip marketing can be particularly useful in a damp market that is characterized by slow purchases. It involves sending messages on a regular basis through email / post (usually weekly) to your prospects. By doing this, you are on top of their minds when they are ready to purchase. This method can be extremely effective if your

- products involve a longer buying cycle
- prospect has put off purchasing for a month or more
- prospect will research for a few more weeks before deciding to buy

Prospects are most likely to do business with you if you regularly send them helpful information. More importantly, to deliver successful drip marketing campaigns, work in conjunction with your sales team to provide information that is relevant to your prospects.

Negotiation techniques for a Downturn

Source: eGrabber Newsletters

Among the skills most sought after in a seller is the ability to negotiate. Here are 3 things you should know as you prepare to negotiate:

• Know what you want exactly
• Decide on the lowest price you are willing to accept from the prospect
• Know when to walk away
  

It is also prudent to determine the above 3 things for the other side (prospect) too. Given the nature of the economy, many sales people make the mistake of rushing in with offers and discounts without determining what the prospect is willing to pay. They then negotiate on the discounted price. You must resist the urge to do so.

Remember, your negotiation should always focus on solving the problem and closing the gap between what both parties (you and your prospect) want.

Formulate Unique Discount Offers for your Customers

Source: eGrabber Newsletters

Recently, visitors to a small business website were offered a "6-year price rollback". The store on the company's website displayed rates that were in effect in the year 2003, for its products. Is your business offering unique discounts for the customers?

Today, consumers are receiving scores of messages with special offers, discounts, coupons, etc. Retailers are going all out to draw in budget-conscious consumers in these economically challenging times. How do you make your offer stand out from the rest? What do you do to grab a prospect's attention? See what other business owners and retailers are doing different to attract consumers and adapt these techniques to suit your business. If done properly, your offer can pull in lots of inquiries.

Use Specific Customer Testimonials

Source: eGrabber Newsletter

A generic testimonial like "Your product was great" will never be as impressive as "Your email marketing templates helped me increase my email ad response rates by 40% and thereby, the sales of my company by 20% in 1 week."

Generic testimonials do not grab attention, appear insincere and might actually have a negative impact, whereas the opposite can serve as powerful persuaders and help you gain credibility.

Remember, the next time you ask your customers for a quote, request them for something that is NOT vague or cliché. Also, ask for permission to display their name, title and company along with the quote.

Reach your Prospects in the Moment that Matters

Source: eGrabber Newsletters

Contacting prospects as quickly as possible is of paramount importance to any business. When you contact your prospect who is fresh from a visit to your website, the chances that she responds favorably are very high. Contact your prospect as soon as she submits an online inquiry.

Consider the following survey findings:
- The odds of contacting a lead drops 100X from 5 to 30 minutes
- The odds of qualifying a lead drops 21X from 5 to 30 minutes

The above findings suggest that you must do all that is possible to instantly reach prospects or respond to their inquiries. This is the moment that matters most for your business. In a time when businesses are competing fiercely for a few dollars and very few consumers who are willing to spend, this should be your number one priority.

Ref: Webinar: After the Click – What Now? by Christopher Jeffers, netFactor Corporation.

Take an Analytical Approach to Recessionary Tactics

Source: eGrabber Newsletters

An analytical approach to a problem involves trying out a mix of solutions, tracking the outcome of each solution implemented and ultimately finding the most effective remedy. Given that we live in a time of cutbacks, not many companies are taking the same analytical approach to their sales and marketing recessionary strategies.

Knee-jerk responses are likely to cause not only short-term damage, but also hurt your company in the long-term. The key here is to rigorously measure the performance of various strategies and tactics as a way of tracking what works and what does not. Offers, promotions, discounts, selling techniques, etc. should undergo a sustained performance measure. This can help you find effective solutions relatively quickly.

Use a Value Proposition that Sells Best in Recessionary Times

Source: eGrabber Newsletters

Recession or not, a compelling value proposition will definitely help you sell better. So, how do you build a value proposition for the recession?

Remember, prospects today are more open to hearing from you, if you can show how they can increase revenue rather than cost-cutting advantages. If the value you provide increases their sales, in addition to slashing costs, then you have a winner on your hands.

Ask yourself: How can I provide my customers and prospects with more sales in a shorter time-period? Can I help their business fight through this recession and survive? Can my products / services help them get more customers; if yes, am I focusing on those aspects?

Answer each of the above questions by way of product features and capabilities. You can then craft your sales pitch based on this value proposition.

Lead Sales Discussions with Prospects

Source: eGrabber Newsletters

One of the keys to become a successful seller is being able to lead a business-focused sales discussion. This creates a favorable impression in the minds of your prospects. Right questions at the right time enable you to lead the sales discussions.

Plan your questions ahead of time. Many sales people tend to make the mistake of assuming that they will be able to frame questions based on their conversation with prospects. But, you will not be able to both listen and figure out what to ask at the same time. So, in order to increase the effectiveness of your conversation, it’s essential to write down at least 5 key questions prior to every meeting. What you need to focus on in your questions will depend on where your prospects are in their decision cycle.

Conduct Targeted Follow-up Campaigns for Customers

Source: eGrabber Newsletters

The key to winning a life-long customer is remembering who they are and translating that memory into a positive/ happy experience for them.

Here are 3 reasons why you should be able to conduct a targeted, improved follow-up campaign for your customers:

You know what your customers like, based on their past behavior and buying pattern. You also know their budget/ price range. And finally, you have their trust, because they had bought from you before.

Use this information to run a tailor-made marketing campaign. The important part is to make your customer feel special. This will help you increase the chances of repeat sales without having to spend much.

Move your Focus to Inbound Marketing

Source: eGrabber Newsletters

Today, a majority of customers are buying products and services through Inbound Marketing (SEO, blogs and social media). Surveys show that inbound marketing has a lower cost per lead; nearly 60% lower than other popular marketing methods.

What this means for you is to ensure that you are found in all these places - blogs, organic search engine results and social networking sites. It is time to move away from techniques that are becoming harder and harder for you to reach prospects (direct mails, email list rentals, online ads, etc.). So leverage the inbound marketing techniques to be in places where people are actually looking for and in mediums that they are using more and more.

Ask yourself: what am I doing online (particularly Inbound Marketing) to attract more and more visitors to my website? If you are doing nothing or doing less, then it is time to move your focus to inbound marketing techniques.

Ref: HubSpot's Inbound Internet Marketing Blog

Use Trigger Words in your Sales Presentations

Source: eGrabber.com

Not every word or phrase is of equal importance in a sales pitch. There are words that can get your prospects to quickly connect with you and spur them into taking action. Including such trigger words or phrases can make your sales presentations very powerful.

Make a list of all your trigger words or phrases. Usually these are phrases that get your prospects excited, that in simple terms explain a hard-to-describe benefit, and so on. The best way to identify trigger words for your products or services is by talking to customers. Pay rapt attention and capture the exact words they use to describe your product or its benefits. Such phrases or words can be priceless. Get them to say what makes your product exciting. Next, use those exact phrases to craft your sales pitch or presentation.

Lead Sales Discussions with Prospects

Source: eGrabber.com

One of the keys to become a successful seller is being able to lead a business-focused sales discussion. This creates a favorable impression in the minds of your prospects. Right questions at the right time enable you to lead the sales discussions.

Plan your questions ahead of time. Many sales people tend to make the mistake of assuming that they will be able to frame questions based on their conversation with prospects. But, you will not be able to both listen and figure out what to ask at the same time. So, in order to increase the effectiveness of your conversation, it’s essential to write down at least 5 key questions prior to every meeting. What you need to focus on in your questions will depend on where your prospects are in their decision cycle.

Continuity In The Marketplace - by Ray Jutkins

Source: .melissadata.com

You need to be in the marketplace on a regular, continuing, and ongoing basis. Not necessarily the same amount every week or every month, but on a regular basis. Whatever makes the most sense-not just in and out at your convenience. You are more likely to be remembered when it's time to buy if you are frequently seen. Seen through the articles, at a trade show, through a piece of direct mail, or well-placed advertisements. Even on the radio or TV if its appropriate for your market. Some products are seasonal, so therefore you must have the biggest impact during that season. The range between the best and worst season is rarely more than 20%. This doesn't mean you shouldn't be aware of it. It does mean you need to be in the marketplace on a continuing basis.

Quick marketing tip - Copy what works!

Source: jimsmarketingblog.com

One of the fastest ways to massively improve your marketing results and sales figures, is to learn how other companies are already getting the kind of results that YOU want. That’s what today’s quick marketing tip is all about!

Copy what works

The next time you read a piece of marketing, which inspires you to take some kind of positive action; to call a business, email a business, visit their store, click a link etc - keep a copy of it. Ask your friends to do the same with any marketing material they read, which motivated them to take positive action too.

Collect these powerful marketing pieces and study them. Look to see what it was that inspired you or your friends to take action. This is a very fast way for you to identify the key elements required to make YOUR marketing messages more compelling!

Don’t forget to study everything. Pay particular attention to the following:

• Was the headline (sometimes called a strapline) eye catching?
• What kind of words and phrases did they use in order to motivate you?
• Did they offer any guarantees?
• Was there a special offer included?
• Was there a ‘time sensitive’ element?
• Was the marketing message long or short and to the point?
• How easy did they make it for you to get in touch?
• Did the message come via a trusted source?
• Was there limited availability?
• Did it arrive at just the right time?
• Were there any testimonials or quotes from satisfied customers?

By studying what already works, you can develop massively more effective marketing for your own business.

Keeping Customers With Good Customer Service

Source: melissadata

Successful companies provide proactive customer service. Proactive customers service leads to increased business and loyalty. Here are a few tips to keep in mind.

Be a double checker
Customers appreciate it when a sales representative takes a minute to check on an item they've asked for. It lets them know they're being listened to and cared for.

Do something extra
Average service is about meeting the customer’s expectations. Great customer service is exceeding it. Give your customers more than they expect, and they'll return to do business with you.

Take the initiative
Offer several solutions to the customer's predicament. If one doesn't work, make sure you have multiple avenues to resolve their problems. This way, the customer knows you are trying your best to help them, and in the future will not hesitate to buy from you, since they'll know whatever problem they have, you'll be able to fix it.

Yellow Pages Strategy - Daily Marketing Tips

Source: melissadata.com

Display ads in the Yellow Pages are different from those in most other publications since they are in customers' hands for a full year. For that reason, it's often prudent to start with relatively small display ad. If the ad proves cost effective, consider enlarging it next year. If it isn't, you can fine-tune the ad at a relatively modest cost. All successful display ads-and especially those in the phone book- should state clearly why the reader should do business with your company. List the main benefits of choosing your company, and always give them several ways to contact you...phone number, web site, e-mail, FAX.

Why People Buy - Daily Marketing Tips

Source: melissadata.com

When you sell a product it's not only important to know who bought it, but also why they bought. What motivated them to buy your product, what motivated them to buy your product over your competitor's product, and what you can do to motivate them to into a repeat purchase in the future. Almost every significant purchase made involves either saving money or time. If you can include one, or better yet, both of these powerful motivators in your offer, you're success rate will likely increase. When people feel like they are saving money they are more inclined to make a purchase immediately rather than put it off and eventually forget about it. This is especially effective with limited time offers that initiate action within a certain time frame. Demonstrate that your product or service can save them time, make them more efficient, and allow them to get more business done during the day and you have a winner. Integrate these two buying motivators in the same offer and watch your direct marketing campaign soar.

Generation Y Lists - by Russell Dunn

Source: Melissadata.com

The teen market is growing in a big way, and today's teens are ready to buy through the mail. When introducing a product to the teen market, direct mailers will encounter several problems when making their list selections. The first is the lack of quality direct mail responsive names. There are precious few response lists available for the teen market. As a result, teen marketers must rely more heavily on the use of compiled and enhanced lists. Once they have used every quality response name they can get their hands on, teen marketers should carefully select names from the recently burgeoning number of enhanced and compiled teen lists using tight demographic selects. Another dilemma often run into by teen marketers is to whether to mail to the parent's name or the child's name. Assuming that you are offering a quality product that is not offensive, it makes no difference who you mail to. Ultimately the parent's will view and approve the purchase prior to response, regardless of whose name is on the mail piece.