Archive for September, 2015

The Art of Cross-Selling

There are different types of selling. For instance, upselling is the process of encouraging customers to buy a product that’s better or has more features than they one they currently have. On the other hand, there is cross-selling, which is the process of encouraging individuals to purchase products in addition to the ones they already have. It’s common in the cable, television and internet industry, but it can be applied to many other markets. It requires a shrewd salesmen to upsell effectively and frequently.

1. Prepare

If you own a restaurant that serves dinner, you should try to sell customers dessert or wine in addition to what they already ordered. If you own an antique shop, you could sell cleaner for the products. Basically, you should look at your current inventory and think about what people would need in addition to what you currently have. Situate items in your shop according to what goes together such as cribs and crib bedding. You should have a list in your head of items that go well together to recommend to your customers once they buy one item.

2. Website

If you can, make a feature on your web page that recommends items to purchase with what they currently have. If this isn’t possible, at least put items that are similar on the same page. This makes it easier for people to find what they need and may remind people of what else they need in addition to what they just bought. This works for Amazon, so it definitely can work for you. In fact, 35 percent of Amazon’s sells come from their, “Customers Who Bought This Item Also Bought” feature.

3. Bundle Up
Sell items that go together, together. Create a deal that seems like a good price because it’s slightly lower than what the two products would be separately. However, there shouldn’t be a huge difference between the price of the items bundled together and the price of them sold separately.

You can turn cross-selling into an art using these tips. They’re not incredibly hard to do. However, they do have the potential to increase your profit drastically.

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Why Bother Personalizing Your Marketing?

You want to get your company’s name out there, so it’s easy to think that all you need is as many touchpoints as possible. Radio, television, print: you’re using repetition so that people will think of you the next time they need your service. However, you need to think a little bit further than just repeating your name over and over again. You want to find a way to condense all of the amazing and different things that you do so that your marketing becomes more personalized to your business.

Let’s say you run a bakery, and if you look at other people’s website you find that they all start to sound like carbon copies of one another. Fresh ingredients, great taste, custom ordering are all far too generic for people to get any real sense of why they should pick them over other people. It’s gotten to the point where everyone checks Yelp before they even think about going to a website because it’s too difficult to get any real sense of the truth. When you approach your marketing the same way you approach your business, you can start to unravel where it is you distinguish yourself from your direct competitors. You can only fool people for so long, so start by being as upfront as possible. In this way, your marketing becomes personalized to you. Then you can start driving that home through the many different mediums available to you.

No matter how you set yourself apart, stay true to your original message so people can expect consistency from you. You can always offer new services or discounts, but don’t look desperate or imply that you’re skimping on quality. Real marketing takes time, so stick with it and don’t be discouraged.

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How do I track my direct marketing?

How do I track my direct marketing? 300

Measuring the effectiveness of your marketing campaigns if just as important for offline campaigns as it is for online ones. However, that is often easier said than done. When it comes to online marketing campaigns you can usually track response rates using codes, special URLs, or analytics software, but when you run a campaign offline those tracking methods are not available to you.

In this article we’ve compiled different ways that you can track your direct marketing campaigns and how well they work:

Using a Unique Coding System

If you are running a direct marketing campaign by mailing out promotions or coupons you can have the codes on each mailer be unique. It may cost a little more to do this through a printing company, but it is extremely beneficial because you will be able to track the response rate as well as know who responded.

Promo Codes

If your customers place orders through the mail over the phone, or online you can send them individual promo codes. The promo codes can be used to give customers a discount and allow the company to track the sales.

Tracking Sales Campaigns

If you’re sending out mailers with a special sale you are running you can include specific items to help you track the response rates and ROI. You can set up a dedicated phone like for any orders coming in for that particular sale, offer a unique URL that can only be accessed by manually typing it into the web address bar, or even offer a unique email that customers can use to place orders for items or services included in that particular sale.

Offer a Free Gift

When you use mailers in your direct marketing campaign you can offer a free gift to any customer who uses a redeem code. You can either offer the free gift on its own or offer it to anyone purchasing a specific item or spending a specific amount of money. Customers will have to give their name and their redeem code when contacting your company and that will allow you to better track the response rates.

Run a contest

One of the best ways to get a high response rate it to run a contest. Everyone wants to win something and even if they don’t immediately become a customer you now have their contact information and can set up campaigns to gradually win them over and close a sale.

Direct marketing is much easier to track when you know exactly what you are trying to keep tabs on. You can keep track of sales, marketing campaigns, promos, and more. This will allow you to make more educated decisions when choosing your next marketing campaign.

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Researching for your target audience, how is it done?

Finding your target audience in any capacity can make a huge difference in the overall success of your marketing campaign. There are a few different methods that can be used to find your target audience and each has its own benefits. Here are three common methods that can be used to help pinpoint your target audience.

  1. Surveys- this is one easy method that can help you to find your optimum demographic. This method includes taking surveys of the people in your area to see who might want to buy your product, who is most likely to use your item, and who is most likely to benefit from the use of your item.
  2. Demographic Studies- this is another method that works well. This means to study who buys the item after it has been released. This is often a second stage method that is used to help market the product after an initial release. With this method, you take the time to see who has actually already purchased the item and then work to change your marketing campaign around these numbers.
  3. Pre-Studies- another method is to do studies prior to the release of a product before the item is ever put into large scale production and before it is released to the public. This method is going to be beneficial if you are not sure who would want to buy your product. Often, this is done prior to an item being released to the public and can help to design the initial campaign.

No matter how you pinpoint your target audience, it has plenty of benefits that are well worth while. Taking the time to see who is going to buy and benefit from your product can help you find the right campaign that is going to get you the most sales and the most overall profit.

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Integrating a New Product and How to Market It

New products are always exciting but beg the question how do you integrate them into existing campaigns and product families. The answer is far simpler than you might imagine. Knowing how to market your new item can make a huge difference in the overall success of your product and the overall success of your marketing campaign.

For starters, each new item may not need a full campaign that is dedicated to them exclusively, especially those items that are part of an already well established product family. It is important that new items get the attention that they need but that they do not end up getting forgotten in the greater scheme of things.

That being said, say for instance that you own a line of kitchen items and that you have a new blender that is getting ready to join the family. Rather than forgetting the other items all together, try integrating the items into existing campaigns, this can save you time and money and can help you tap into your already established family of products and marketing.

Another aspect to consider is that new products that are similar to those that you already make are going to be far easier to integrate than those that are new and hard to really pair with your existing campaigns. A clever tactic that works well is to present the new product on a stand alone platform and reference the maker of another product that was successful as well.

Often when you see, “From the makers of…” this is a new method that is going to help bring the new product into the family without setting it too far apart. You can always get help from professional marketing companies to find out just what you can do to get your new product up and off the ground.

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The importance of testing with email marketing

When it comes to email marketing something as little as a typo, wrong URL, or non-responsive frame could be devastating to your ROI. In order to avoid wasting time, effort and money most email marketers have a pre-send checklist they go through before launching their email into the World Wide Web. Unfortunately, not everyone understands just how important it is to test marketing emails and email marketing campaigns.

Are You Thoroughly Testing Your Email?

When it comes to testing marketing emails it’s important to check for typos, verify all links work and test it on various devices and email providers. Sending a test email to your outlook and Android phone won’t really tell you if the email is going to look the way it’s supposed to when it gets to your clients. Gmail has a habit of cutting off emails and Outlook sometimes reformats emails entirely. This is why the best way to thoroughly test your email is to view it on a variety of providers and devices.

Failing to Test Guarantees a Failed Campaign

If you’re not testing all of your emails thoroughly, your marketing campaign is set to fail. For example, if you had 100,000 subscribers that you sent out an email campaign to so that you could reach your sales goals for this quarter. If that email is not mobile compatible you just lost a third or more of those possible sales because the people who got the email can’t even read it. If you sent the emails with a landing page link and the link it was broken you not only lost those sales, you may lose the interest of those particular clients entirely. If you didn’t bother to check your email on different providers, such as Outlook, you may end up with gaps and a client who thinks you don’t care enough to put effort into your emails. All of that can truly hurt your ROI and sales numbers.

Some email marketing companies allow you to click one button which shows you how your email will look throughout the different providers and devices. You can also create various testing email accounts and test it manually one by one, although this may take a while. Regardless of how tedious it may be, do not send out any emails without checking them first!

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Making the Most of Cross-Media Marketing

Apply the right principles and cross-media marketing actually becomes more cost-effective than single-channel or multi-channel marketing. It works like this: with cross-channel marketing, your radio, print, television and web ads are all part of the same campaign. This affords you an opportunity to develop a laser-like focus that is hard to attain outside of cross-media marketing, and this focus can wind up saving you a whole lot of money.

When you first sit down with a spreadsheet and look at the cost of expanding from a single-channel marketing plan to cross-media marketing, it’s a little scary. Your advertising budget seems to multiply by however many channels you hope to implement in your new plan. So we have two goals when it comes to launching a cross-media campaign:

  1. Bring the overall cost down
  2. Make sure that we’re getting the most out of every leg of the campaign

Here are a few tactics we can put to use in accomplishing these goals:

  • Use free channels as much as possible.

Social media advertising is free, and more effective than a lot of paid advertising space.

  • Shop around.

Whatever one radio station is asking, another station might be pricing airtime more competitively.

  • Connect everything to everything.

Use QR codes to send newspaper readers to your website, and invite website visitors to follow you on Twitter. Get every penny’s worth out of every channel.

  • Maintain focus, and refine it.

You should start out with as much data you can possibly gather on your key demographic, and know that the more time you spend pushing your cross-media campaign, the more you will learn about your demographic. Refine your campaign and put those numbers to work.

In truth, for its risk-reward rate, cross-media marketing is the most cost-effective way to advertise. The trick is simply to make the most of it.

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Does Social Media Really Generate Sales Leads?

There has been a lot of discussion lately about social media and whether or not it can truly be helpful in generating sales leads.  The answer is both yes and no.  If used correctly, it can and will generate sales leads and referrals.  If it is not used properly then you will not see many positive results at all.

Here are a few tips on how to use social media properly in order to generate leads.

  • Establish your brand.  Social media profiles shouldn’t read like your resume.  Use your profile to establish exactly what you or your company can do for businesses and people.
  • Connect.  Salespeople should always make the effort to connect with their prospects as well as their current customers.  Ask them for referrals.  Create a network that is built on success stories through referrals.  Just as a business will establish credibility with their testimonials and websites, so should you.
  • When you spot a prospect, use the network that you have built to make the connection.  Ask people who know the prospect to make the introductions for you.
  • Use those introductions wisely.  Don’t just make the connection and stop.  Let the prospect know the reason you want to connect.
  • Research your prospects before you have a phone or in person meeting.  You should find out their interest, if they are members of any groups and what types of conversations they have been party to.
  • Help them.  Refer them to other of your connections.  When you take your networking group online and then refer leads to them, they will begin to reciprocate and send you leads as well.

When you follow these tips you will begin to notice that yes, you can generate new sales leads by using social media.

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