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Introduction
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Sincerely,
Irena Whitfield,
Important: In a world of increasing crime, delinquency,
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Today's Feature Article
Are You Making These Mistakes In Your Business?
Jennifer Tripp
You’ve probably heard the statistic that 95% of small
businesses fail in the first five years. That’s not a very
encouraging number! Although being part of the 5% that
succeed is not easy, it’s definitely possible. What it
takes is a lot of common sense, some marketing and sales
skills and the ability to learn from the mistakes of others.
To get you started on the road to success, here are three
of the biggest mistakes small businesses make and some tips
to help you avoid them:
Mistake #1: Having a Poorly Defined Sales Process
The key to making money with any business is to stay
focused on how you can “sell”, “sell more” and “sell more
often”. Unfortunately most businesses don’t consider all of
the ways they can make money from customers and end up
losing potential revenues.
There are three ways you can make money from your site:
1. Get More New Customers - This is the sales activity that
most small businesses spend 90% of their efforts on.
Although it’s an important element of your sales process,
it’s only one of three ways you can make money. Don’t
neglect the other two because you’re focused on only
attracting new customers.
2. Make More Money From Each Transaction - Upselling is the
process of increasing the value of a customer’s order.
Offering additional products and services at the point of
purchase is an effective way to increase the value of the
transaction.
3. Sell More Often To Existing Customers - Existing
customers are the least expensive customers to sell to.
Why? Because they’ve already purchased from you once so
they trust you, you already know what they’re interested in
and you know how to reach them. Use these facts to your
advantage by following up with existing customers on a
regular basis and offering them more products and services.
This process is known as backend sales and is one of the
most overlooked revenue sources by small businesses.
A well-defined sales process will include all three of
these. If you’re missing any of them you need to rethink
your strategy from the beginning. Start with your first
contact with a customer and walk through step-by-step how
you’ll take them from never having heard of you to being a
lifelong customer.
Mistake #2: Not Learning What Makes a Website Sell
If you’ve been online longer than five minutes you know
that the “build it and they will come” mentality doesn’t
work. If you want your business to succeed you need to
learn how to make a website that sells.
Some of the best things you can do are:
Mistake #3: Not Treating it Like a Business
Too many small business owners fall into bad habits early
on and end up treating their business more like a hobby
than a business.
Here are a few things you can do to treat your business
like a business:
Are you making any of these mistakes in your business? If
so now is the time to make some changes!
********************************
This article is an excerpt from the Special Report by
Jennifer Tripp, “The 7 Biggest Mistakes Small Businesses
Make – And How You Can Be Smarter!” To get your copy of
the entire report visit
http://www.mysmallbizcoach.com/sevenmistakes.htm
Today's Motivational Reading
THE PROSPERITY GAME: Play Your Way to Prosperity
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********************************
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Today's Subscriber Article
How Laws of this Universe can Skyrocket your Sales...
Yeo Feng
Most people follow a fixed formula for selling online. They
create a product, try fervently to market it and then get
frustrated at the results. If you happen to fall into this
same pothole, do not get frustrated because you're not
alone! In fact, hundreds to thousands of products and
websites every year never earn any money, and the creators
of these products have to end up paying advertisers
exorbitant fees which only result in low click through
rates.
Thus one of the questions I get asked very often is, "Yeo,
is it possible to make an honest living online?" Absolutely
yes! I can not only show you how to make an honest living,
but a good living as well! After all, the Internet is as
legitimate a media as any other, just as the television,
newspaper or convention brick and mortar storefronts are.
If that's the case, what are these people doing wrong?
To answer this question I studied literally thousands of
marketing websites to find out their marketing techniques
used. I made notes of their sales techniques, tactics and
the way they handled customers. Then one simple fact dawned
on me. Many people were violating the laws of the universe.
Quite simply, they were trying to make millions even before
they have made thousands.
Laws of this universe do not only apply to the field of
Internet marketing. They apply to virtually anything you do
- studying, working, learning a new subject and so on. You
reap what you sow, and in order to get results, you got to
make sure that proper energy is channeled into it! Most
people, however do not realize this simple fact.
So how do you "channel energy" into your website?
I cover 6
fundamental ways.
1. You may be paying advertisers hundreds or thousands of
dollars for traffic,
but are you attracting the right kind
of customers?
Many web marketers are "greedy" and want to
use a "catch all" technique to get many diverse visitors,
hoping that some of them will eventually purchase their
products. Don't fall into this pothole. Advertise to a
highly targeted audience and you will be assured of higher
conversion rates.
2. You may have thousands of hits on your website everyday,
but do you have a compelling sales reason or strong enough
a reason to get customers to buy?
Channel your energy into
creating what I call the ULTIMATE sales page, spend your
time crafting each component, each word to make sure that
they influence your buyers instead of simple getting lots
of traffic and not knowing what to do with it.
3. Is your sales pitch well written?
Most people spend so
much energy advertising they're wasting it! You need to
spend some time writing a good sales pitch. Every copy I do
is usually revised 3 or 4 times based on the conversion
ratios tracked, and I study the psychological factors that
cause visitors to actually purchase my products. Are you
doing the same thing?
4. Is your product worth the asking price?
Most people ask
for exorbitant prices. Never sell something for $2 when you
can for $1. Basic laws of Economics tells us that people
will never pay more than the satisfaction they can derive
for a good. So make sure you price the product right. Price
it too high and it might just become and inhibiting factor
to hurt sales.
5. Is your website attractive, easy to read?
People will
only stay on a site if it interests them, and if something
captures their attention. Is your site designed with the
user in mind, fast loading and clean?
6. Do you have a complete idea of your ideal customer?
Try
and build up a picture of your ideal customer - Think of
what he / she likes to do in his spare time, what problems
will they have, what are their hobbies, what are their
lives like...and then market with them in mind. Remember
that targeted marketing is better for specialized products.
Simple as they might sound, but most people fail to notice
the importance of marketing at its source, your sales pitch
and website. So with my 6 pointers in mind, go and tighten
your sales website, do something about it... I'm confident
that you will notice a difference in sales.
********************************
Yeo Feng, (yeofeng@SellAnythingEbook.com)
Web Marketer, Technology Consultant, Author of How to Sell
just about Anything Online: Revolutionary web marketing
system for a profitable online business:
http://www.thecassiopeia.com/howtosellanything/
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Change is the law of life. And those who look only to the past
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John F. Kennedy
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