3 Marketing Myths that are Stopping you Succeed!
These 3 marketing myths can cause you to lose sales if you base
your marketing decisions on them. We've given you some marketing
tips to blast each myth and boost your sales.
Myth 1: People buy a product at the cheapest price they can find.
That is not true - if it was then companies like Rolex and would
not exist - Timex would have put them out of business a long
time ago. Despite the ease of research that the internet affords
- buyers are generally lazy and don't undertake full research.
Even on eBay where it is far easier to check the relative prices
of a product - people often buy a product at a higher price than
they could. So what causes people to buy? These are called
buying triggers - the most common are:
* Confidence in the seller * A high perceived value *
Recommendations * Ease of purchase
Blasting Myth 1: Establish your credentials - for example we
have over 20 years of business consultancy experience - so we
know what works and what does not work in a business.
Find ways of enhancing the perceived value of your product or
service by adding extras or clearly demonstrating the value of
it's purchase.
Ensure that you include some actual recommendations within your
sales letter. Make it easy to purchase and receive your product
by not introducing any barriers to purchase such as extra forms,
obscure or complex payment methods.
Myth 2: Offering your customers numerous different options will
boost your sales
When confronted with several options, most customers have
difficulty making a decision. They often react by
procrastinating - and going to a seller who offers a clearer
product. Now by this we don't say add extras or up sells, just
clearly state what is included in the product and don't offer
options that not only confuse but making your selling and
processing more difficult.
The human mind works better when offered the two options "buy",
"don't buy".
Blasting Myth 2: Only offer one product - or product package per
page. You can have a clear (and short) menu on each page to
encourage multiple purchases. If you have more than one option
for a product or service - then give them different names and
present them each separately. For example you can call them
"silver service", "gold service", "opal service" etc. This is
what we did with our various marketing services and it works
quite well.
You should always aim at a small, easily understood product or
service range. You should be able to explain each of your
products in one or two sentences. If you can't do this - how do
you expect your potential buyers to understand what they are
buying?
Myth 3: Everybody Needs My Product or Service
Unfortunately, most people don't believe that they do need a
particular service of product. Obviously with items such as
Ipods - your teenager will try and tell you they really, really,
really need one, but this is peer pressure that has been built
up with millions of dollars. Much of this was spent on research
into what there market wanted - and they got it right!
If you believe this myth then you also believe that you can
succeed without doing much marketing or selling. Unfortunately,
despite what some marketers tell you - it does not happen that
way. Undoubtedly there some very successful marketers around,
but they will all admit that a great deal of market research,
testing and reviewing of their offerings - happened before they
became successful.
Building a successful business is hard work - most of it devoted
to finding potential customers and then matching them with your
products and services. Even if most people can use your product
or service, you still need a marketing strategy to reach them
and a persuasive sales message to close sales - because you can
bet your last dollar - that where there a lots of potential
customers - there are just as many sellers.
Blasting Myth 3: * Do your homework - find out where your
potential customers are, what particular needs and desires they
have and what they are seeking to solve these. * Look for a
narrowly defined niche market where your product or service will
solve a unique need of the customers. * Design your product or
service to meet these needs. * Test, Change, Test, Refine, Test
and obtain customer feedback.
Unless you are one of the millionaire marketers around - you
will find many myths that you follow and potentially lose money
on. Hopefully the ones above have helped you.
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