Category: Target Market

Prepare for Lift Off!

Last time I gave you a laundry list of tips and tricks you can use to make your word of mouth program work for you. Hopefully, you’ve taken a look and decided which ones are the best fit for your company, products, services, and target customers, so you can put them to work in your word of mouth campaign.

We are going to wrap up this series on word of mouth where we give you the specific steps to create a word of mouth campaign.

Now, let’s take a look at those steps:

  1. Seed the market.
  2. Find some way to get the product into the hands of key influencers.
  3. Provide a channel for the influencers to talk and get all fired up about your product.
  4. Offers lots of testimonials and other resources.
  5. Form an ongoing group that meets once a year in a resort and once a month by teleconference.
  6. Create fun events to bring users together and invite non-users. Saturn, Harley- Davidson, and Lexus have all been successful with this approach.
  7. Develop cassettes, videotapes, and clips on your Web site featuring enthusiastic customers talking with other enthusiastic customers.
  8. Create custom CDs for each potential customer.
  9. Hold seminars and workshops.
  10. Create a club with membership benefits.
  11. Pass out flyers.
  12. Tell friends.
  13. Offer special incentives and discounts for friends who tell their friends. Put the Internet to work.
  14. Do at least one outrageous thing to generate word of mouth.
  15. Empower employees to go the extra mile.
  16. Encourage networking and brainstorm ideas.
  17. Run special sales.
  18. Encourage referrals with the use of a strong referral program.
  19. Use a script to tell people exactly what to say in their word of mouth communication.

 

These are all amazing ways you can get the word out about your products and services and start a word-of-mouth campaign that takes on a life of its own. Before you can release your word of mouth campaign out into the world, you need to go through the checklist to make sure you’ve covered all the essentials.

Here’s your word of mouth campaign checklist:

  1. Are all of your communications sending the same simple message? If it can’t survive word of mouth, it’s not a compelling story.
  2. Is your product positioned as part of a category? Ex.”A dandruff shampoo that doesn’t dry your hair.”
  3. Are your examples outrageous enough to be shared?
  4. Do you enhance your materials with success stories from real people?
  5. Are you using experts effectively and in an objective manner?
  6. Have you created mechanisms so people can follow up on the word of mouth they hear, as well as simple ways of inquiring or ordering?
  7. Have you made the decision process easy for customers?
  8. Have you created events and mechanisms so that once your prospects hear about your product, and it is easier to try or buy?

These are all essential elements to take keep in mind when taking a second or even third check over your word of mouth campaigns. I hope you’ve found this series on word of mouth to be a great resource and are getting ready to put it into action for your own products and services.

If you need help with this anything, try our GUIDED TOUR and get all the help you need from our experienced business coaches.

If you are serious about growing your business book your free roadmap session where you and I will have a 20-30 minute conversation about exactly what you are struggling with, where you want to go, and where you are right now. I’ll help you start to plot out the roadmap a little, and if at the end of that call you say “I want to get your help to get there faster and speed up implementation, I’m happy to help you do that too! But for now, sign up for the roadmap session – I’m really looking forward to talking to you!

Search & Implement

People only remember the extraordinary, strange, wild, surprising and unusual. You need to make sure your ideas and marketing reflect these reactions. This doesn’t mean you have to have a product or service that is completely out of the norm, in fact, this could easily drive customers away. You need to have a product or service that is high quality and easily marketable, then you need to market it as extraordinary and new. 

As you’re researching word of mouth, there are some questions you need to ask along the way:

What are the users willing to tell the non-users?

  • Exactly how do your customers describe your product?
  • What are the non-users willing to ask the users?
  • What are the things they need to know but are unwilling to ask?
  • What happens when these issues are raised?
  • Exactly what do your prospects have to know in order to trigger purchase?
  • Exactly how do your customers answer the objections, concerns, and qualms of your prospects?
  • How do your customers persuade their friends to use your product?
  • How do your customers suggest they initially get to know or try your product?
  • What warnings, safeguards, tips, and suggestions do your customers suggest to your prospects?
  • Are your sales messages, positioning, and important facts about your product getting through and surviving word of mouth?
  • What messages do you need to inject into the marketplace in order to turn the tide in your favour and how will you deliver them?

There are two main reasons why word of mouth research is so important:

  1. To get the real impression and feedback from customers
  2. To define word of mouth itself and the concept it creates

There is a simple formula that can help you conduct your word of mouth research. It’s called the “2-2-2” model.

2-2-2- Model

What this breaks down to is:

  • 2 groups of customers 
  • 2 focus groups of prospects
  • 2 mixed groups (enthusiasts & sceptics)

In these groups you need to ask the following questions:

  1. What would you tell a friend?
  2. How would you persuade a sceptic?
  3. What questions would you anticipate from a sceptic?
  4. How would you answer their objections?

The best way to conduct these groups is by teleconference. This ensures you’ll get a good variety of demographics for your customers and potential customers. It also allows people to feel safe and more able to express their true feelings. These teleconferences should not be conducted by you, but by an independent party to avoid adding pressure to the situation.

We’re going to transition a bit and talk about how to construct a word of mouth campaign. First, we’ll talk a look at the essential ingredients you need to put together a campaign. These ingredients are:

  • A superior product
  • A way of reaching key influencers in your marketplace
  • A cadre of experts willing to bat for you
  • A large number of enthusiastic consumers
  • A way of reaching the right prospects
  • One or more compelling stories that people will want to tell to illustrate your product’s superiority
  • A way to substantiate, prove, or back up your claims and how the product will work in the real world
  • A way for people to have direct, low-risk experience, a demo, sample, or free trial
  • A way of reducing overall risk, an ironclad guarantee

Once you have those ingredients ready to use, you should consider the situations in which your company can benefit from strong word of mouth programs. Some of these situations are:

  • When there are credibility problems
  • When there are breakthroughs
  • When there are marginal improvements
  • Where the product has to be tried in large numbers or overtime
  • Where there is a high risk in trying the product
  • With older or mature products that have a news story that people tend to ignore
  • With unfair competitive practices such as spreading rumours, or telling lies about your product
  • When there are governmental or other restrictions on what you may say or claim directly

While most of the word of mouth tactics are positive for your word of mouth program, there are a few products to avoid using in this program. They are:

  • Products where a seminar would not provide meaningful added value
  • Products that can’t be tried and where there is no consensus among experts
  • Products that are clearly inferior, without having a compensating superiority for similar products
  • Products that are so personal or emotional that rational discussion is irrelevant to the decision
  • Products where the decision value is so small (low price/low volume) the medium will not be cost-effective. 

This wraps up this post on word of mouth research and how that research can be used when putting together your word of mouth campaign. If you need help with the research and a plan to use the results of that research, try our GUIDED TOUR to get all the help you need with our top-notch resources and tools.

If you want to explore ways of working with us book your free discovery session.

WOM meets Customers HEAD-ON

Today we’ll cover the idea of shortening your customers’ decision-making process with positive word of mouth. There are essentially 5 stages in the decision-making process.

They are:

  1. Awareness of an unmet need changing the “no” to “maybe
  2. Shop around
  3. Observe the product to check for potential benefits, features and operations to see if there is a fit with their needs.
  4. Become a customer and purchase their first item. They will be discriminated against for their first product as they form their opinion of you.
  5. Purchases again and starts spreading positive word of mouth as an advocate of your products.

So, let’s take a closer look at each one of these.

Awareness of an unmet need changing the “no” to “maybe

At this point the customer becomes aware of an unmet need, this stage is really important because if your potential customers don’t even take a second look at your products and services, then you have no chance of sealing a deal. This is why you need to offer credible information and well thought out pricing, guarantees and incentives.

Shop around

At this stage, they are shopping around, taking a closer look at your product line to see if there is actually anything that could benefit their life. They also compare your products and offerings to those of your competitors. This is where you need to make sure your information is easy to obtain and understand, so they can make an informed decision.

Trial Period

Customers often feel more at ease and ready to purchase when there is some sort of a trial in place. They usually want to try vicariously through someone else, so they don’t feel any risk involved. A good way to offer this is through demo videos, product demonstrations or a tour of your facilities. This stage may invoke a reaction of “I tried it and liked it. You should check it out.”

Make a Purchase

At this stage, they have taken the risk of purchasing one of your products or services and are now evaluating how easy, convenient, cost-effective and satisfying your product or service is. At this stage, a common reaction would be, “It was really easy to use and learn from. It’s really great, you should get it!”

Advocates for your Products

At this last stage of decision making the customer is immensely pleased with your product and often keeps using it and/or comes back for more products and services. They are likely telling everyone they know how much they like it, that they use it every day and have already (or will be) back to your establishment for more.

We talked a minute ago about the different types of purchasers. Now we are going to take a closer look at their characteristics, so you can figure out which tactics are best to use at the right stage of the decision-making process.

The Innovator

  • Wants to stand out from the crowd
  • Know what’s hot and trendy
  • Likes “strange” or “weird” new products
  • Wants to be the first to try and will talk about it animatedly

Early Adopter

  • Driven by excellence
  • More concerned with possibilities than realities
  • Always looking to be a leader
  • Always looking for a new vision

Middle Majority

  • Wants to be perceived as competent
  • Concerned about practicality and easy comparisons
  • Needs an easy way out if not satisfied
  • Wants products that meet the industry standard

Late Majority

  • Generally sceptical and wants to know the risks upfront
  • Needs to shop around for the best deal
  • Needs a support system
  • Wants what everyone else has

Laggard

  • Needs it to be completely safe and traditional
  • Needs reassurance that nothing will go wrong
  • Won’t try new things unless it’s the last resort
  • Will search for loopholes and problems
  • Wants to use it in the standard industry way

As you can see, each type of consumer wants something just a little different depending on their personality type. The key to successful word of mouth is to target and cater to each type of consumer. If you need help identifying the types of consumers you are currently helping and how to attract the types you are lacking, try our GUIDED TOUR for the resources and tools you need to get the job done.

Next time we’ll talk about how word of mouth messages are delivered and what you can do to help facilitate that.

Book a free consultation, while spots last!

Harness the Power of WOM

Today we’re going to talk about how to harness the power of word of mouth. Including the six-step process to success and the 30 (that’s right, I said 30) ways to harness the power of WOM. So, let’s get started!

There are six steps to harnessing word of mouth:

  1. Understand your customers’ values and priorities, this will help you understand why they would buy your products.
  2. Understand the different adopter types: innovators, early adopters, middle majority, late adopters, and laggards. 
  3. Identify which decision stages are needed for your product to be adopted. 
  4. Use the information from steps 2 & 3 to figure out which wording and word of mouth tactics are going to work using the Decision Maker Matrix (we’ll talk about this in a minute).
  5. Put together the resources for the highest word of mouth impact.
  6. Create and implement your word-of-mouth campaign.

The Decision Maker Matrix is based on years of trial and error by George Silverman. It essentially charts different concerns you may come across when working with different adopters and putting together a decision process for each one. 

We are now going to move on to the 30 ways to harass the power of WOM:

Use Experts

Experts can come in many forms and all their opinions should be taken into consideration when putting together a WOM campaign. Some experts to gather information from include:

  • Customers
  • Suppliers
  • Experts
  • Salespeople
  • Experts’ roundtables
  • Experts’ selling groups

Seminars, Workshops & Speeches

These venues are a perfect opportunity to gather information. People who attend these types of events are used to giving feedback, so you can use a survey or other method to gather the information you can look over later. Some events to use are:

  • Speakers program
  • Seminars
  • Group selling
  • Dinner meetings
  • Peer selling groups
  • Teleconferenced experts’ panels
  • Trade show events/opportunities

“Canned” Word of Mouth

The concept of “canned” word of mouth is using hard and online products to get feedback and offer information at the same time. Some ideas for these are:

  • Videotapes
  • Audiotapes
  • World Wide Web
  • CD’s

Referral Selling

As we’ve talked about before a referral program can help with a variety of things in building your business. By using some of the following tactics and opportunities you can find out exactly what you need to do to generate positive word of mouth. These tactics and opportunities are:

  • Testimonials
  • Networking
  • Referral Selling Program

“New” Media

The concept of “new” media is the use of up-and-coming media sources and opportunities to get the word out about your products and services and listen for feedback about them. Here are some of the “new” media options:

  • Hotlines
  • Faxback services
  • Web-based word of mouth, such as forums, e-mail, etc.
  • Call centers

Using Traditional Media for Word of Mouth

Using traditional media is a great way to get feedback. These are still considered mainstream ways of interacting with the public and consumers. Some traditional media outlets are:

  • Customer service 
  • PR
  • Placements
  • Events
  • Promotions
  • Word of mouth in ads, sales brochures, or direct mail
  • Salesperson programs, sales stars, or peer training, 
  • Word-of-mouth incentive programs (“Tell-a-friend” programs)
  • Customer gifts they can share with their friends (articles, how-to manuals) 

Internal Word of Mouth

  • Encourage employee word of mouth and sharing feedback with family, friends, and others
  • Offer rewards or commission for the word of mouth success

As you can see there are tons of ideas you can work with to increase your level of positive word of mouth marketing. If you need help with any of this, please try our GUIDED TOUR to access our exclusive resources that can help you put this whole thing together.

Word of mouth tactics – Part 1

Today we’ll start a new series talking all about Word of Mouth and how it can make or break your business in an extremely short amount of time. In this first lesson, we’ll get a feel for what exactly word of mouth is.

Word of Mouth is easily the most powerful form of marketing and is absolutely free. People talk about ads they see, the experiences they have and the products they purchase. If you treat people right and spread the word about your new products/services positively, you’ll attract the right customers and client who will sustain your business for a long time.

Now, as positive as word of mouth can be for your business, the other side of the coin is how negative it can be as well. Bad news seems invariable to travel faster than good news and if you have a less than high-quality product or weak customer service system, then your customers will tell everyone they know to not buy your products and services.

There are some stats to support this:

Word of mouth drives $6 trillion of annual consumer spending. Word of mouth marketing spend is expecting to grow by 70% for online WOMM and 30% for its offline counterpart. 43% of marketers using WOMM are estimating an increase in sales. Offline word of mouth increases sales by about 20%.

The age of technology has proved to be an amazing benefit in the world of word of mouth. With blogs, podcasts, online marketing, forums, social networking and all the other online mediums available and making it easier and easier for consumers to share their experiences. And, remember this is all free advertising for you.

Let’s take a minute to talk about the importance of shortening the customer decision cycle to help customers/client choose more quickly and easily. There are three great ways to increase sales by shortening the decision cycle.

They are:

  1. Increase the overall dollar amount customers spend on each purchase
  2. Increase your number of customers
  3. Increase the frequency of purchases

Let’s take a deeper look at decision speed.

Offer simplicity, ease and a fun purchasing atmosphere and you’ll help your customers make their decisions quicker and more confidently. When this happens your customers will buy more frequently, spend more money than usual, refer friends and make the decision to purchase faster. This can raise your market share by over 100 times.

The time it takes your customer to decide and purchase far outweighs any other component of marketing. When you focus on customer decision speed it forces you to take a hard look at your company and brand image, positioning, value, customer service, guarantees and product quality.

The next area I want to talk about quickly is how to minimise the friction, or stress, involved with decision making. No matter how easily people find decision making there is a certain amount of anxiety we all experience when making a purchase, especially from a new source or for a large amount of money. When you help to minimise this emotional response, you will soothe your customers’ anxiety and they will make their decision quicker and more confidently.

There are a few secrets to accelerate the customers’ decision making progress:

  • Your benefits, features, claims and promises must be obvious, clear and concise.
  • The information you offer must be complete, easy to understand, credible and balanced.
  • Use comparisons that show a marked difference.
  • Your guarantees must be rock solid and more than the customer expects.
  • Make trial periods easy.
  • You must have simple evaluations of your products or services.
  • Testimonials need to be relevant and positive. (Remember that your customers are looking for social proof)
  • Your support, delivery and other operational systems must be perfect.
  • Your website can be as good as you make it.
  • You can offer more than information, you can offer an experience that guides your customers gently through the decision-making process to make it easy for them to buy. Take it a step beyond by offering toll-free support numbers, software downloads to help with the process or other classy and informative ways to reassure your customers that you are there with them every step of the way and have nothing to hide.

This wraps up the first post in our series on word of mouth. If you need help identifying your target market and the issues they are experiencing in their purchasing experience that is making their decision time long, try our GUIDED TOUR and work with one of our coaches to come up with the best way to smooth out your purchasing experience.

Next time we’ll move forward with word of mouth and talk about the power of word of mouth and what exactly this powerful tool is and can be used for.

Shhh…I have a secret

Customer service is a hot topic and can make or break your business. Consumers have little patience for poor customer service and easily get tired of waiting in long lines, trying to get a live person on the line, going through an interrogation to return something or trying to communicate through a language barrier.

If you provide them with a simple, efficient, pleasant experience buy more from your business over and over, they will stay longer, and, more importantly, they will tell everyone they know!

There are three secrets to good customer service, the first one we are going to conquer is knowing exactly what YOU want.

You are the captain of the ship and the visionary for the future of your business, so you need to have a clearly defined plan for your business and that includes customer service. There are three main goals you need to consider:

  1. It needs to be easy for your customers to do business with you. You can do this with advertised discounts, kiosks, your website, and other technology-based programs to help them shop.
  2. Doing business with you needs to be a warm and pleasant experience. Your staff must be knowledgeable, approachable, warm and patient. Your customers need to feel like they are getting good value for their time and money. Perceived value goes beyond the price of the products and extends to their shopping experience. Keep in mind that customers are willing to pay double the price when they perceive four times the value.
  3. Change your mindset and ask yourself “How can I NOT afford to do these things?” This should not be a question of expenses but making and keep happy customers.

With these thoughts in mind, you also need to take a few things into consideration when deciding on the actual programs and standards you will put into place.

  1. Share your customer service vision with the rest of your team.
  2. Connect your incentive programs and bonuses directly to customer service.
  3. Monitor the level of customer service your team is delivering.
  4. Know when you can ignore what your customers want.
  5. Continuously focus on your goals.

 

Now that you know what you want, you can start thinking about how to meet those wants and create a positive customer service experience.

If you’re having a hard time deciding on what you want, the tools, resources and coaches in our GUIDED TOUR can help you define the wants and needs of your company in relation to customer service.

Add compost

In the last post, we talked about the first three of the 7 specific areas you need to consider in your franchise prototype process. Here are all seven again:

  • Primary Aim
  • Strategic Objectives
  • Organizational Strategy
  • Management Strategy
  • People Strategy
  • Marketing Strategy
  • Systems Strategy

 

These 7 areas will fine-tune your plan for the ultimate level of success. Today we are going to cover the last four.

Think of constructing your business model like planting a tree. At first, it is so small and weak you wonder if it will even make it through the night. But you keep watering, fertilizing, and nurturing it. Your ideas will grow the trunk and each of these strategies will extend out like the branches of your now strong tree. Finding the perfect support staff, employees, vendors/suppliers, and other relationships will make your tree flourish with leaves and flowers.

Continue reading “Add compost”

30 ways to market to other professional and businesses at a fraction of the cost

Today we’ll take a look at how the kings of industry wine, dine and otherwise cajole prospects. 

Most successful professionals use a series of information-based ads that build emotion and a call to action. These are much more effective than standard company branding advertisements. The same principles that go into putting together a high impact (and, often, high priced) ad campaign can be adapted to fit your needs with similar results.

Here are some ways to put together and execute a professional, effective ad campaign: 

  1. Put together a short report that’ll you’ll automatically send to prospects when they contact you. This should include a short description of your business and what you specialize in. Don’t forget to include case studies, samples or other proof of your success.
  2. Develop value-oriented yellow page ads.
  3. Consider newsletters as a way of educating and informing customers about your industry and services offered.
  4. Offer a free seminar, webinar or other lecture to build awareness of your business, but make sure you make the information pertinent to your target market and find speakers who are respected and known in the industry.
  5. Buy an existing business, introduce better marketing and grow this new business faster than a “from scratch” business.
  6. Always test different versions of your ads to find the most effective ones.
  7. Use direct mail marketing to grow your business.
  8. Put together a database of previous customers and send them new information.
  9. Offer incentives such as frequent purchasing benefits, loyalty programs, referral programs or others.
  10. Approach large firms who may need your services and negotiate a deal to be their exclusive expert in your field.
  11. Offer a 24-hour information line with a regularly updated recorded message. Make this available to all past and future customers/clients.
  12. Donate time or materials to local charities to show support in your area.
  13. Offer public clinics for the general public to come along and discuss what they need that’s free and approachable.
  14. Organize seminars your customers/clients can pay to attend by putting together a high-perception value package.
  15. Approach local newspaper by offering to write a weekly column about your area of expertise. Don’t ask for money, just a byline and bio.
  16. Develop a weekend or other destination seminar for customers/clients, not only does this give you an action-packed weekend with the most important people, it gives them a tax-deductible business adventure.
  17. Take a good seminar and turn it into written form as a home study, member site program, audio or video program.
  18. Approach large companies and offer to give seminars to their employees, investors or management.
  19. Be proactive with your marketing plan.
  20. Barter for your marketing. Offer products or services in lieu of payment.
  21. Be willing to bring in new clients, even if at an initial loss because it will likely pay off later.
  22. Regulate your marketing budget to maximize the potential income from them to hit the next year and try to push back advertising costs for the next year to offset your expenses.
  23. Make offers to target markets or target market businesses to pay them for referrals or shared databases.
  24. Offer loaner products to replace equipment that’s be repaired or refurbished.
  25. Give away something free to everyone who brings in a print version of your advertisement. This is a great way to see which ads are giving you the most bang for your buck.
  26. Continually consider what new products/services you can offer to current customers/clients. 
  27. Develop a mail order division of your company.
  28. Offer a proposition to your competitors to trade customers/clients you were both unsuccessful in selling to.
  29. Use different marketing tactics as an excuse to attract new customers/clients with new offers and goodies.
  30. Offer a “you-choose-the-price” program. This is especially good for product you just can’t seem to sell.

So, there are 30 great ways to market to other professional and businesses. Some other great ways to get your name out there for little or no cost are:

  • Get involved you in your community-volunteer, donate to local events, etc. 
  • Join your local Chamber of Commerce and attend the networking and other activities throughout the year.
  • Join a local, state or regional professional associates for further networking opportunities.
  • Become a board member of a local organization.

Advertising should never be your only method of marketing; there is a myriad of ways to get your name out there in a way that feels personal to potential customers/clients. 

“Effective advertising…must be used to get your name out to the public. If your name is not familiar to people, they will not come to you.” Jay Abraham

If you’re not sure where you start with your marketing plan, or how to reach out to your local community, competitors, customers/clients and others who could influence your business in a highly positive way try our GUIDED TOUR to experience the tools and resources we have to boost your business to the next level and beyond.

How Well Do You Know Your Vendors?

It’s essential to build relationships with your vendors and those around you can bring in new customers/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 a whole host of 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 the ways you can do this is by providing performance-based incentives that are much larger than their standard charges.
Here’s the step-by-step process of putting together a partnership with a vendor:
Approach all the vendors you work with and offer an incentive-based on performance.
Put the generous incentive plan together from their perspective, even take suggestions.
Develop a clear, concise and easy to track incentive plan, this will increase competition between vendors and therefore higher performance levels.
Encourage subsequent sales instead of focusing only on the initial purchase. By doing this, you can give away more of the profit from the initial purchase to your vendors and make higher profits off the back end products. Encourage:
· Future sales
· Upsell better and more profitable products/services
· Cross-sell to additional products

Create an incentive plan that’s irresistible to your vendors by offering generous, exclusive compensation.
Think of all the vendors you work with and the creative ways you can put together an incentive plan that entices 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 GUIDED TOUR to come up with some great ideas and put your incentive plan together for maximum results.

Turn Prospects into Customers Overnight!

Turn Prospects into Customers Overnight!

Today I’d like to talk about how to turn prospects into customers and retain them for future marketing to. While your marketing is doing its job, 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
  • Enjoyable

The biggest fear of most new customers is the dread buyer’s remorse. You want to avoid this at all costs, and this should be mitigated if you’ve provided a quality product/service that delivers on the marketing claims you’ve made.

However, this can still occur. There are two ways to deal with this:

  • Offer to refund money-no questions asked
  • Offer a bonus they can keep even if they return the product

 These offers alone will also mitigate buyer’s remorse because the customer will trust you more, just for offering these things.

There are many other ways to turn a prospect into a customer:

  1. Offer a special price as an opportunity for you to test the market.
  2. Offer a lower price with the reason of pushing inventory to pay a tax bill, for your kid’s’ braces, or another tangible reason. Customers love that this makes you feel so much more human.
  3. Offer a referral incentive.
  4. Offer a smaller, more inexpensive product first to build trust.
  5. Offer package deals.
  6. Offer to charge less for their first purchase if they become a repeat customer.
  7. Offer extra incentives-longer warranties, free bonuses if ordered by a set date.
  8. Offer financing options, if applicable.
  9. Offer a bonus if they pay in full.
  10. Offer special packaging or delivery.
  11. Offer “name your own price” incentives.
  12. Offer comparative data or other comparison tools.
  13. Offer a trade-up or upgrade to something they already have.
  14. Offer additional, educational information to help them make the 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/service and target market. Remember this…

“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.” Jay Abraham

Need help with figuring out the best strategy for converting prospects into customers? Our GUIDED TOUR gives you exclusive access to the mountain of resources and tools, along with information from some of the greatest marketing minds on Earth.