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MenuWhat is the optimum selling strategy for selling advertising to business owners?
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The perfect strategy is to show your client what their benefit and return on investment would be on this specific advertisement. This is what they are looking for from your pitch. It is great if you show them a positive benefit that they will receive from the advertisement. An example would be a return of a certain amount of money that is more then they invested. Sometimes they will have a certain budget that they must spend wisely. You must ask what the client needs for their benefit. It could be an increase towards their image or recognition. After you find out what they need you will be able to sell them the right advertisement.
What I've suggested in the past that worked really well, is to pick an open minded business to advertise for... use your advertising genius to send them customers, as long as the customers when they go into the business say - (X Sent me) - then when you know you've sent them a good deal of customers.. call them up and say did you notice all the customers that said X sent me... Well we do this to prove that what we do works... In order for us to continue this campaign it will cost you (X) the price should be 1/3 of the potential profit that those customers would bring to the establishment within a 6month period of time.. So now you've proven you service works.. All you have to do is turn off the taps if they say no. Rinse and repeat until you find someone that says yes.. which we find that we usually get about 85 to 90% conversion on a strategy like this... No convincing, no haggling, no price negotiation - Here is what it does with proof.. Here is what it costs... 1/3 of the profit. Let's do it.. Yes or no? :) Hope that helps!
Business run on teams and teams run of individual skills, so to discover the “optimum” you need to find out which of the following strategies your time can work out:
1. Know Your Product
Familiarize yourself with products and services you sell by reading their accompanying marketing brochures and sales letters, testing the product or service and by asking your manager questions about a given product.
2. Understand Your Target Customer
Consumers have different wants and needs that make them gravitate toward specific products, services and companies. If you have knowledge of your target customers, you can readily identify their needs and help them find solutions.
3. Get Referrals from Existing Customers
Include generating referrals into your sales process to maximize your profits.
4. Price Competitively
While you do not have to make your prices lower than or on par with your competitors, you should know their regular and sales prices for products and services. Value-added benefits might include an extended warranty or lifetime guarantee, your level of expertise or the quality of your products.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
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Dilip was very kind in his response. My answer might be a bit on the "tough love" side. But that's for you to decide. My intention, just for the record, is to help you (and those like you) on your path to success. And that starts with having a viable philosophy about entrepreneurial-ism and business. And I'm going to answer this because I get asked some form / version of this question very frequently from newcomers to entrepreneurial-ism. The scenario goes something like this: "I have a great idea. It's amazing, I love it, and I just KNOW it's gonna make me a ton of money. But I have no money right now so I can't afford to (fill in the blank with things like "to build it / create it / market it / etc" or "to hire the required staff needed to work in my business to sell it / develop it / etc"). And I don't want to tell anyone about my great idea because I'm worried someone will steal it and make MY million / billion dollars. But I can't afford to legally protect it either... So how do I launch without the skills to personally create the product AND no money to hire anyone else to do that either??" The answer is ... You don't. Look - let's be honest. All you have is an idea. Big deal. Really. I'm not saying it's not a good idea. I'm not saying that if properly executed it couldn't make you a million / billion dollars... But an idea is NOT a business. Nor is it an asset. Until you do some (very important) initial work - like creating a business model, doing customer development, creating a MVP, etc - all you really have is a dream. Right now your choices are: 1. Find someone with the skills or the money to develop your idea and sell them on WHY they should invest in you. And yes, this will mean giving up either a portion of the "ownership" or of future income or equity. And the more risk they have to take - the more equity they will want (and quite frankly be entitled to). 2. Learn how to code and build it yourself. MANY entrepreneurs without financial resources are still resourceful. They develop the skills needed to create what they don't have the money to pay someone else to do. 3. Get some cash so you can pay someone to do the coding. You'll probably have to have some knowledge of coding to direct the architecture of your idea. So you will likely still have to become knowledgeable even if its not you personally doing the coding. (This is not meant to be a comprehensive list of options... And I'm sure some of the other experts here on Clarity have others to add - and I hope they do) To wrap up - Here's my final tip to you that I hope you "get"... It's FAR more valuable to have an idea that a very specific hungry crowd is clamoring for right now - One that THEY would love and pay you for right now - Maybe even one they'd pre-order because they just have to have it - Versus YOU being in love with your own idea. [Notice I didn't say "an idea that some as-of-yet-undetermined market would probably love"] I wish you the best of luck moving forward.DB
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