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Astute Pricing By Sales Representatives Can Expand Profit
One surefire way to grow profit is to deploy sales resources that masterfully price your company’s products and services. The right price can boost profit more than improvements in the cost-of goods sold or reductions in SG&A. For example, a 1%...
Get Coached!
Coaching is a hot trend at a growing number of companies, from IBM and Dow Chemical to entrepreneurial start ups. According to a recent survey by The Hay Group, an international human resources consultancy, between 25 percent and 40 percent of...
Hurdles to Cross Cultural Business Communication
International businesses are facing new challenges to their internal communication structures due to major reforms brought about through internationalization, downsizing, mergers, acquisitions and joint ventures.
Lack of investment in cross...
Sales Process - How to Avoid Wasting Time on Prospects Who CAN'T or WON'T Pay
Do you have blind faith that, if you can somehow convince a prospect to engage in a sales cycle, you will eventually make a sale? If you do, watch out! This belief can waste your time, effort, and company resources.
Unfortunately, time and...
Will Your Home Business Succeed Or Fail?
You may operate a home business selling services or products, but no matter which kind of business you're in, there's always a question in the back of your mind: will my home business succeed or fail, or do I have the motivation it takes to keep it...
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Work from Home: 5 required steps to generate sales.
If you're reading this you are probably between 27-44 years old
(although some of you progressive types will be just under 27
and a bit older than 44). You work in a sales-type situation
mainly from home. Meaning if you don't get sales you starve. You
are a go-getter. You seek to improve yourself and your
statistics. Some of you live all over the world, tucked away in
your corner of the globe. You have some kind of product that you
want to market but need more sales. You have good business sense
and are thinking I need to make more sales and I don't know what
to do? You want to do it on your own. Sound pretty close? If you
make it past the next paragraph you probably are a good person
too. Read why the above is exactly what you need to DO when
thinking about your own marketing and sales.
How many times have you heard someone you know become a
realtor, an insurance agent, a hypnotist, or a financial planner
and so on. You know, "So and so got her real estate license."
"So and so has his/her own website now?". Wow. Good for them. Do
you ever get the feeling that they use the fact that they
"started" a new profession or field to basically make others
feel small. Have no fear, the reality will set in soon enough
that they will have to get clients (and a lot of them) to make
it worth their while. If you are one of those people or you work
from home and you don't want to make others feel small but want
to generate more sales, read on.
Let me enlighten you on the realities of being a "salesmen" in
any capacity. Whether you work from home, or you work for a big
corporation strictly on sales. If you don't get a high number of
sales, you will probably spend more money on your new venture
than you make. I mean it. You have to work hard and get a lot of
no's before you get enough yes's to make it worth your while.
People always ask me "How did you generate enough sales?" "You
must be a natural salesmen". Well, let me tell you I am a good
salesmen but that doesn't excuse me from any of the real work it
takes to generate sales. But let me give you what I think anyone
interested in generating sales MUST do:
1. Niche. I'll say it again, because you think you may know what
I'm talking about: Niche. Almost everyone I talk to that doesn't
make it as that insurance agent, mortgage loan officer, real
estate agent, or financial planner thinks they have a niche.
However after some explorations into their plans you hear they
have what they think is a niche. Let me explain. When I was in
the foreclosure business, I entered a fierce competitive
cutthroat business. Most of the failures came from people who
thought because they were in the foreclosure business that was
enough. It was a niche in-and-of itself, right? But it wasn't.
This is a niche (and you could take it further):
Homes within a zipcode that are 4 bedroom 2 bathroom, with the
owner being unemployed 5 months or more with 1-2 children and
going through divorce. They will be between the ages of 28-42.
They will have had income of $85k within the last two years from
a job that required 50% or more on commission. They have loans
on their home of more than 80% of the value. Their home is in
foreclosure but they are not late on their car payment. Their
home is in perfect shape and they want to move on with their
life.
With the niche detailed above I am given plenty of opportunities
to market directly with little or no competition. Making it
possible for me to spend money on advertising to those niche
people instead of trying to
place ads or talk to the multitudes
that the big guys are vying for also.
2. Appeal to Niche emotional needs. The niche above gives us a
clear look into a life of someone. And they are going through
something. They are feeling a certain way because of that
experience. The fact is they will buy from you, or use your
services if you APPEAL to those emotions. If they feel like you
understand their situation and are really ready to serve that at
a good price they will trust you. In fact give them MORE for
their money. You could even charge a premium and you've become
indispensable to your niche.
3. Specialty Products for Niche. My client owns a fruit market.
His shoppers usually speak another language than the country's
official language. So he must have clerks that speak that
language. He has specials on foods only the Niche would buy
during the Niche's special holidays. He explains: "Our shoppers
like us because on their holidays we put signs up in their
language and have specials on food products that coincide with
that holiday, and clerks that speak their language."
4. Survey the Niche. Constantly keeping up with your Niche's
likes and dislikes is essential. They are changing as the
Niche's grows and goes through challenges of the marketplace.
For instance, my client is a real estate agent that exclusively
markets, apartment building owners in their 50's, in a
particular zip code, in Chicago. Because she has implemented a
system of survey she found out that most owners are converting
to condo because of the taxes and vacancy rates. These factors
were becoming more of a challenge. Why didn't they just sell?
Because in your 50's you still need make money and these owners
weren't ready to retire. So she found out that her Niche,
apartment building owners in their 50's, was changing to Condo
Conversion, property management and sales owners. So now she
could get products like: Learn how to avoid building code
violations when converting your apartment building, Seminar from
me, your friendly Condo-Conversion Realtor.
5. Give the most efficient service, with fullest possible
quantity and best quality. Have you ever been taken advantaged?
Did someone ever rip you off? Did you ever get over charged for
something? Did the wait staff treat you rudely? We all have
feelings, nothing worse than getting shorted. However, there is
nothing better than knowing yourself that you did your homework
and gave the best you could give to a client. You have the
satisfaction, knowing your client just got the best they could
get. And you received a nominal fee for it. You will get
referrals because of it. Now you're generating sales just by
Niche marketing.
I'm running an experiment on the newest information marketing
website turnkey system. In this system, FREE modules on internet
marketing that I definitely endorse. The system advertised the
typical promises: "help you make money from home with very
little money, time and offers plenty of solutions that can cover
most of your knowledge deficiencies." A current example to show
anyone who is interested about home based turnkey systems: view
an experiment system. See the bank statements to view how
profitable or not so profitable. Follow the money at
http://howtocreateonlinemillionaires.com
About the author:
Take advice from someone who has successfully worked from home
for the last eight years. Investigate the required actions for
successfully working at home. Follow the money at
http://howtocreateonlinemillionaires.com
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