How well do you partner with your vendors?

Posted by dianaacsente

It’s imperative to build relationships with your vendors and those around you who can help you bring in new customers/clients and increase awareness of your company branding.

The people you work directly with on your products and services are the ones with the most to gain when you find success. By taking the time to get to know them, you’ll find a whole host of opportunities you didn’t realize were there.

Look for great ways to offer your vendors rewards for helping grow your business, and everyone wins. One of the ways you can do this is by providing performance-based incentives that are much larger than their standard charges.

Here’s the step-by-step process of putting together a partnership with a vendor:

  1. Approach all the vendors you work with and offer an incentive based on performance.
  2. Put the generous incentive plan together from their perspective, even take suggestions.
  3. Develop a clear, concise, and easy to track incentive plan, this will increase competition between vendors and therefore, higher performance levels.
  4. Encourage subsequent sales instead of focusing only on the initial sale. By doing this, you can give away more of the profit from the initial transaction to your vendors and make higher profits off the back end products. Encourage:
  • Future sales
  • Upsell better and more profitable products/services
  • Cross-sell to additional products. You get all of this and ore by creating an incentive plan that’s irresistible to your vendors by offering generous, exclusive compensation.

Think of all the vendors you work with and the creative ways you can put together an incentive plan that entices them to be part of your business. Use their talents, capabilities, and connections, and you’ll both be winners.

Putting together an incentive plan doesn’t have to be a complicated process. Use our FREE test drive to come up with some great ideas and put your incentive plan together for maximum results.

Turn Prospects into Customers Overnight!

Posted by dianaacsente

Today I’d like to talk about how to turn prospects into customers and retain them for future marketing. While your marketing is doing its job, you need to be working on turning those prospects into customers. There are a few key ways to draw them in and seal the deal. You need to be:

 Inviting
 Informative
 Enjoyable

The biggest fear of most new customers is the dread buyer’s remorse. You want to avoid this at all costs and this should be mitigated if you’ve provided a quality product/service that delivers on the marketing claims you’ve made.
However, this can still occur. There are two ways to deal with this:

 Offer to refund money-no questions asked
 Offer a bonus they can keep even if they return the product

These offers alone will also mitigate buyer’s remorse because the customer will trust you more, just for offering these things.
There are a number of other ways to turn a prospect into a customer:

1. Offer a special price as an opportunity for you to test the market.
2. Offer a lower price with the reason of pushing inventory to pay a tax bill, for your kid’s’ braces, or another tangible reason. Customers love that this makes you feel so much more human.
3. Offer a referral incentive.
4. Offer a smaller, more inexpensive product first to build trust.
5. Offer package deals.
6. Offer to charge less for their first purchase if they become a repeat customer.
7. Offer extra incentives-longer warranties, free bonuses if ordered by a set date.
8. Offer financing options, if applicable.
9. Offer a bonus if they pay in full.
10. Offer special packaging or delivery.
11. Offer “name your own price” incentives.
12. Offer comparative data or other comparison tools.
13. Offer a trade-up or upgrade to something they already have.
14. Offer additional, educational information to help them make the decision.

The options really are as limitless as you make it. You can use these or other ideas to find what works the best for your business, products/service, and target market. Remember this…

“By making it inviting, easy, informative, non-threatening, educational, inspiring and fun to do business with you, you’ll loft your company above the competition.” Jay Abraham

Need help with figuring out the best strategy for converting prospects into customers? Our FREE test drive gives you exclusive access to the mountain of resources and tools, along with information from some of the greatest marketing minds on Earth.

Kick Start Your Marketing

Posted by dianaacsente

Today I’d like to teach you about the three most important start up marketing tools you need to get and keep new customers.

  1. In person: It’s essential you meet with customers/clients in person whenever possible. This shows you respect them and take the time to work with your clients to give personal attention to each of them.
  2. Follow up letter: Always take a moment to send a follow up letter about what you talked about, new agreements or partnerships made and to thank them for taking the time to meet with you. Likewise, you should always send thank you letters or small gifts to partners you find success with.
  3. Phone call: Use a telephone call to follow up with them to talk again about the matters you talked about in your meeting and offer any assistance you can to help their business run smoothly and more successfully.

None of these will work if you don’t have a quality product/service to back you up!

Here are the key steps for putting together your start-up marketing tools:

  1. Research potential customers, buyers, competitors and their preferred methods of distribution.
  2. Talk to potential customers. Take a hard look at your product from a customer’s perspective and see what it needs to be successful.
  3. Follow up with your 3-step process from above.
  4. Develop systems for contact follow through, quality control standards and customer service.
  5. Develop post-sale follow up system to keep lines of communication open is customers and build on your current relationship which increases future purchases.

“Marketing and innovation produce results; all the rest are costs” Peter Drucker, management consultant

Here’s another one I love from an icon:

“If there is any one secret of success, it lies in the ability to get the other person’s point of view and see things from that person’s angle as well as from your own.” Henry Ford, Founder of Ford Motor Company

This lesson has offered you the tools to put together a start-up marketing plan that can be used over and over again to help your customer base and business grow in a manageable way. The tools offered in our FREE test drive offer these very same things.