Take a Time to Market Your Online Business
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Take a Time to Market Your Online Business
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Jaime Parmis
Categories: homebiz articles Tags:
Building Websites Quickly & Easliy
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Building Websites Quickly & Easily
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Jaime Parmis
Categories: Uncategorized Tags:
Website Promotion – The Power of Writing Articles
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Website Promotion – The Power of Writing Articles
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Jaime Parmis
Categories: homebiz articles Tags:
The Key to Your Success
Today’s feature article is:
The Key to Your Success
Copyright © Stone Evans, The Home Biz Guy
http://www.PlugInProfitSite.com/main-19755
In regard to making money on the Internet, everyone is always
looking for the quick fix. They want to sign up for a program,
place an advertisement, and make hundreds or thousands of dollars
instantly. While this may be possible depending on your
circumstances, the most direct and guaranteed path to success on
the Internet is to stick with the fundamentals.
A friend of mine who is an athletic coach for kids in the city
where I live reminded me of this lesson. This guy is actually so
passionate about kids and athletics that he coaches 4 different
sports: basketball, soccer, baseball and football. Of course, he
has a kid of his own on each team. But what is remarkable about
this guy is the results he gets with his teams.
He was recruited to coach the 8th grade football team where his
children go to school. After 27 years of losing seasons in a row,
the first year my friend became the head coach the team won the
district championship and repeated their championship run the
following year. This past weekend he coached 12 different games
and won all 12 of them. As you can tell, this guy is extremely
dedicated.
But the funny thing is that he and the kids he coaches are not
totally hung up on winning. If they lose a game, they feel
equally good about themselves as they would if they had won. What
matters most to them is how well they played and lived up to
their potential as a team.
The real question is how my friend’s teams continually perform
on such a high level and beat nearly anyone they play even though
they are often smaller and younger than their competitors. I
asked this question to my friend the other day and he told me
that it’s all in the fundamentals.
In his practices, all he works on with his kids is keeping a
positive mindset and practicing the fundamentals. He told me that
his teams never scrimmage or strategize about upcoming games
during practice. They simply work hard on all the fundamentals of
whatever particular sport they are playing and do so more than
any other team they play. This constant practice and improvement
of the fundamentals is what allows his teams to progress faster
than his competitors. While most other teams get caught up with
how to win, out-strategize, be stronger than and intimidate their
opponents, my friend’s team is just so good at the basics that
they blow everyone out of the water when game day arrives.
This got me thinking about my own Internet business and why I’ve
been able to succeed on such a high level while most others who
have tried to do what I do have failed. The answer is not really
surprising.
Most people who try to build a successful Internet home business
are looking for the quick fix. They want it to work IMMEDIATELY
and so they usually fall prey to business opportunities that
promise to help them get rich overnight and advertising scams
that promise to deliver thousands of hungry prospects to their
website in the next 24 hours. Of course, these opportunistic
schemes are really just geared to steal people’s hard earned
money. You see, when someone is desperate and looking for an
INSTANT solution, they will often be taken advantage of and their
chances for success with an Internet home business are slim to
none.
However, while there are thousands of business opportunities on
the Internet and millions of different ways to advertise and
promote your website, I personally practice the fundamentals in
my Internet home business. I do this by sticking with the
business opportunities I’ve joined for the long haul and
promoting my website consistently with simple, affordable and
easily maintained Internet marketing techniques.
In fact, one of the techniques that works best for me is writing
articles like this one and getting them published on other
people’s websites using article syndication tools and software
found online.
By writing articles and getting them published on other websites
online using powerful tools like those mentioned above, I’m able
to get my name and website address in front of thousands of
people without paying a dime in advertising. Of course, the key
to this strategy is that I write and distribute articles
consistently in this way. It’s one of those “fundamentals”
that doesn’t cost anything but a little time and effort. Fact
is, it’s this price of time and effort that most people are
unwilling to pay. They’ll gladly part with hundreds or even
thousands of dollars, but ask them to do a little hard work and
they say “No way.”
It’s this understanding that can separate you from the pack. If
you are willing to practice the fundamentals of your business
faithfully and consistently, you will be destined to succeed on a
high level. But if you can’t and you’re only looking for the
quick fix, you have already lost the game before you even set
foot on the field.
Even pros like me practice the fundamentals every day. In fact,
especially pros like me practice the fundamentals. The moment I
stop practicing the fundamentals is the moment I stop being a
pro. Think about this carefully and then renew YOUR commitment to
the fundamentals of your Internet home business today. Do this
and you will soar past your competition.
http://www.PlugInProfitSite.com/main-19755
————————————————————
Categories: homebiz articles Tags:
The Enormous Power of Past Success
Today’s feature article is:
The Enormous Power of Past Success
Copyright (c) Stone Evans, The Home Biz Guy
http://www.PlugInProfitSite.com/main-19755
I was checking my voice mail yesterday and received a message
that was short and sweet. It said: “My name is Ken Shapiro. I’m
the writer, director, producer and star of the motion picture
‘The Groove Tube’. Please call me back at …”
Interesting. The writer, director, producer and star of a motion
picture?
My curiosity was aroused so I went to Google and looked up “The
Groove Tube”. I discovered that Ken Shapiro was indeed all of
the things he said he was and that Chevy Chase, a very famous
American actor, had is debut film appearance in the movie. My
mind determined that Ken Shapiro was a force to be reckoned with
so I gave him a call.
It turns out that Ken found me online and was seeking some
guidance on how to promote his new project at
http://www.bedbooks.net/. “Bed Books” is a very interesting
innovation and I must admit that I’ve often wanted to lay on my
side in bed and read a book, but that’s not a very comfortable
thing to do. Thus, Ken’s unique idea and business has the
potential to really take off.
In our brief conversation, we exchanged pleasantries and I gave
Ken a few tips on getting publicity for his site. He’s obviously
a guy who takes action on his ideas so I expect that he’ll take
the information I gave him and put it into motion immediately. If
so, you’ll be hearing a lot more about Ken and BedBooks.net in
the near future. In exchange for my time and advice, Ken said he
is sending me a “Bed Book” to try out.
What’s interesting about my conversation with Ken is my
motivation for having it in the first place. Considering that I
receive an overwhelming amount of voice mails every single day
and that I’m rarely able to call anyone back on the phone
personally, why did I choose to pick up the phone and call Ken on
my dime?
The answer is because Ken had established that he was already
successful. Because of the accomplishment of making “The Groove
Tube” movie in which Chevy Chase appeared back in 1972 I
determined that calling Ken would be, at the very least,
interesting. I also sensed that there could be the possibility
for me to benefit in some way because I perceived Ken to be
powerful and influential.
I was right. Ken is powerful. He’s a doer. He makes things
happen and I respect him for that. In this world, it’s the
dreamers that take action and persist until they succeed that get
my attention. That’s why I called Ken and that’s also why he
was able to benefit from a free consultation with me. In that
discussion, I gave Ken some very specific advice for marketing
his website that has the potential to bring him all the business
he can handle.
The point to take home is that Ken’s previous success in the
movie business made it a lot easier for him to get the
information and resources he needs to succeed in his new venture.
In other words, past success has power.
When I first started my Internet business it was not easy. In
fact, it was downright difficult. I spent thousands of dollars on
credit trying to learn the game and acquire the tools I needed to
build my business. Everything was expensive and the people who I
thought could help me grow my business the most wouldn’t give me
the time of day. I was a nobody in this world.
However, I was persistent and by leveraging my financial and
creative resources I was finally able to make my first sale
online. Once that occurred, I simply focused on what I did right
and did more of it. My sales continued to grow and I was becoming
successful.
From those initial small successes, I was able to continue
building my knowledge. I realized that once I had knowledge, I
could share it. By sharing my knowledge with others, I was able
to become an expert. As an expert, people were attracted to me.
Through that attraction, I was able to sell more goods and
services. I was becoming *very* successful.
Then other experts got attracted to me. They started giving me
their products and services for free. They were also open to the
possibility of working together. The same products and services
that I could barely afford in the beginning of my career and the
same people who wouldn’t give me the time of day before, were
now becoming as freely available to me as oxygen itself.
Why? The answer is simple. I was already successful.
Is it easier for the rich to get richer? Absolutely. Is it easier
for successful people to become more successful? Definitely. The
momentum has already been established. Money attracts more money
and success attracts greater success.
Before you get cynical, first consider the fact that most of the
rich and successful people in this world started with nothing but
their ideas and enthusiasm. They were able to use that energy and
put it into motion to create their own success.
In most cases, the path they traveled was riddled with moments of
confusion, struggle and failure. But they persisted and with each
small success their path got easier and easier to travel until
they eventually paved it and turned that path into a “success
super-highway” that now allows them to travel and succeed with
ease.
The enormous power of past success is that it can and will
catapult you toward greater success in the future. Use everything
in your power right now to create some initial success and then
roll that success forward to create more success in your life.
You will ultimately discover this is a very easy thing to do.
Categories: plug-in profit site Tags:
Journey to Home Business Success
Today’s feature article is:
Fast-Track Your Journey to Home Business Success
Copyright: Stone Evans, The Home Biz Guy
http://www.JaimeParmis.com/pips.html
No one has ever logged onto the Internet for the first time and
started pocketing dollars in a really short period of time. As
with all things in life, there is a learning curve.
SOME PERSONAL HISTORY
Just a few short years ago, I was a working stiff just like you.
One day, I bought and read a book called “Multiple Streams of
Income” by bestselling author, Robert Allen. Immediately, I
began my journey.
Every night after work and after my wife and children went to
sleep, I would get online and explore different ways of using the
Internet to make money.
In the two years that followed, I spent over $10,000 racking up
credit card debt buying eBooks, membership sites, special
reports, opt-in leads, and joining every “guru” recommended
business opportunity that flew into my email inbox.
I stayed up learning, working, and drinking coffee until 5:00 in
the morning, month after month filled with the hope of making
money online.
In my third year of working part-time to build a home based
income, I finally broke through and earned over $100,000 in just
twelve months from the Internet.
BECOME THE MASTER OF YOUR LEARNING CURVE
Research the lives of all of the “gurus.” The one thing that
you will learn is that my own experience is not unique. Most of
the high earners on the Internet experienced a learning curve
very similar to my own.
Chances are that your curve will also be similar to mine, but it
is my hope that you can get to the top faster than even I did.
Three years was a long time to struggle, but every ounce of
struggle was worth the reward I have finally received.
In order to shorten your own learning curve, you must do a few
things differently than the rest of us did. You must become the
master of your learning curve.
THE SHORTEST DISTANCE BETWEEN TWO POINTS IS A STRAIGHT LINE
There is only one way to shorten the curve on the Internet:
You must plan to succeed!
Here is the deal. Most people put up a freebie website and select
a few affiliate programs to add to their website. Right out of
the gate, most people are running for the finish line without any
real plan in mind.
After a few short weeks, people begin to see the writing on the
wall that says, “This is going to be a long hard road.”
People check their hit counters daily for six weeks before they
realize that getting traffic to their free site is going to be
tough.
At this point, they begin developing their first batch of
advertising. Then they spend countless months finding places to
show their advertisements for free. Some make an even more
drastic mistake by blowing thousands of hard earned dollars on
their new and untested ads.
These are the people who will learn the facts of life the hard
way.
In time, they will learn how to make their advertising work for
them, but most will earn very little money from their affiliate
programs.
At this point in the learning curve, most people throw up their
hands and walk away from their dreams in utter disgust. Instead
of a walking away point, this should have convinced the
struggling online entrepreneur that they were simply traveling
the wrong road.
YOU MUST PLAN TO SUCCEED
From day one, you must begin to learn about the nuances of web
promotion. Read everything you can get your hands on. Don’t just
read the hype, back it up with the opinions of others who have
reviewed the same programs before you came along. Learn from
their mistakes and successes.
As you begin to learn, you must also look to make a decision. Do
you want to step into a pre-built program that is designed to
help you to succeed, OR do you want to create a completely new
program of which you are the sole owner?
If you decide to step into a pre-designed and complete turn-key
online money-making venture, then you must select the right
venture to step into. If this is your decision, I encourage you
to check out the Plug In Profit Site at:
http://www.PlugInProfitSite.com/main-19755
If you decide to go the journey on your own, then do all of the
necessary research, planning and preparation that is needed for
your success.
PREPARE TO SUCCEED
Decide what you think you would want to do, and then figure out
how your planned site will generate a real income.
Internet old-timers know about hundreds of corporation domains
that existed with IPO millions, but did not have an actual money
plan that could sustain their business model. Most of these
companies were among the hundreds of companies that bellied up in
the 2000 dot bomb experience.
Don’t blindly believe in your plan. Research others on the web
who have undertaken similar business models and see if they have
survived. Study your competitors in depth to learn what is
working for them and what did not work for them. To better
understand what has or has not worked for competitor websites,
check out their time lapsed progressions using the Wayback
Machine: http://web.archive.org/
Once you have determined your money plan, then you should
undertake the development of a business plan and a marketing
plan. Utilize professional assistance if you need to do so. While
creating your plans, make a determination as to which domain name
you think would be best, then register it along with a hosting
account. You can do this at Host4Profit in Step 2 on this page:
http://www.PlugInProfitSite.com/main-19755
Once you have developed your business plan and marketing plan and
have run them through several revisions, then it will be time to
buy your domain name and to begin work with a site designer and
developer. You may need to have your domain sitting on a web host
for your site developer, but this is not always necessary. While
they are doing their work, enlist a copywriter to help you with
your site sales copy.
When your site designer and developer have your site working, you
should then undertake significant testing to make sure everything
works as planned. It is much harder to fix problems on a
operational site than it is to fix problems on a site that has
yet to be launched.
When testing is done, then you should fill in your sales copy and
then shoot for launch. Of course, you already have a marketing
plan in place, so your preparation here will be simply a matter
of putting the pieces of the puzzle into place.
You are finally ready to open for business. Don’t be afraid to
spend the money to bring your dream alive. Time can replace money
in the goal of starting a profitable online business, but money
invested can shave years off of your company’s growth.
About the Author:
————————————————————
Stone Evans helps ordinary people all over the world make
money online with affiliate programs. If you can follow 3
easy steps, you can get your own customized website,
autoresponder (email follow-up software) and pre-written
email marketing campaign professionally designed and
installed and ready to pull in profits for you in 24 hours
or less! See details at and sign up today at:
http://www.PlugInProfitSite.com/main-19755
————————————————————
Categories: homebiz articles Tags:
Advertising and Promotion Game
Today’s feature article is:
How to Win the Advertising and Promotion Game
Copyright : Stone Evans, The Home Biz Guy
http://www.JaimeParmis.com/pips.html
I am certain that, as a business owner, you have often
entertained the question as to how much to spend and where to
spend your advertising dollars. For most small business owners,
these questions can add to the headaches suffered in the course
of normal everyday operations of their business.
THERE ARE NO SIMPLE ANSWERS
The how much to spend and where to spend it questions have no
easy answers.
Depending on your type of business, many people suggest that the
*how much* should be equal to anywhere from 4% to 10% of your
gross receipts.
The quandary is that a business cannot survive without a fresh
flow of incoming customers. But, a business can seldom generate
a fresh stream of customers without spending money to get the
word out about their business.
THE CHALLENGE OF DEVELOPING EFFECTIVE ADVERTISING
Have you ever paid for advertising and sat back to await the
fresh flow of customers, only to find yourself sitting and
sitting and then sitting some more?
Don’t feel bad about that. It has happened to many of us before.
See, knowing where to spend the advertising money is not enough
to get the job done.
Where to spend the money only begins to highlight the other
issues connected with advertising:
1. Marketing Plan
2. Advertising Strategy
3. Headlines, Ad Copy and Visual Presentation
4. Tracking the Success of Your Advertising Campaigns
The Marketing Plan is used primarily to identify your own
products and services, costs, strengths, weaknesses and the
strengths and weaknesses of your competitors.
ADVERTISING STRATEGY
It is important to understand what you expect to gain from your
advertising.
Do you simply wish to get your name known so that when your
customer will need you, they will think of you first? Or, do you
wish to get your customers in your front door on Saturday?
Do you want your customers to come in and take a look around to
discover the next object that they cannot live without? Or, do
you want them to come in and buy a specific widget?
Do you hope that enough people will come in to buy enough
products or services to pay for your single ad? Or, do you
expect to gain a lifelong customer who will help pay for your
advertising over the course of several years?
When you know what you want, then you will better understand
just how to do it.
HEADLINES, AD COPY AND VISUAL PRESENTATION
You might be surprised how many business owners put out
advertising without regard for the quality of the sales pitch or
presentation. The quality of your distribution outlet or the
amount of money you spent to get there will do little for you if
the advertising vehicle is a junker.
Test all of your advertising materials in smaller markets before
blowing your advertising bank roll on it. You must absolutely
know the value of your advertising before putting large sums of
money behind it.
TRACKING THE SUCCESS OF YOUR ADVERTISING CAMPAIGNS
Tell your customers to save another 10% when they tell you they
heard or saw your ad in such-and-such location. Suggest that
they can register to win a free widget if they fill out a form
and have them to tell you how they heard of your business.
Advertise a specific widget in your ad and track the sales of
that widget.
It does not matter how you track your advertising — just make
sure you do it!
IN SUMMARY
The ideal way to spend your advertising budget is to buy a rifle
with a high-powered scope and to only shoot your targets in the
light of day.
If you are not tracking your advertising, then you are shooting
a pellet gun without an attached scope, with blinders on, and
shooting in the dead darkness of night.
Even with a bigger gun, the blinders in the dark constitute the
single largest mistake made by advertisers. If you are unable to
track your advertising to learn what is working well, what is
working somewhat, and what is a money pit, then you are
condemned to repeat your mistakes over and again.
By relying only on gut instinct, you may be choosing to spend
more money in the money pit and to lose all of your money in the
process.
When you get down to the nuts and bolts of making money from
your advertising, you should plan, prepare, track and study your
results. You must have factual information on which to base your
advertising decisions. When you are making the right advertising
decisions, then making money from your business might just come
easy.
About the Author:
————————————————————
Stone Evans helps ordinary people all over the world make
money online with affiliate programs. If you can follow 3
easy steps, you can get your own customized website,
autoresponder (email follow-up software) and pre-written
email marketing campaign professionally designed and
installed and ready to pull in profits for you in 24 hours
or less! See details at and sign up today at:
http://www.JaimeParmis.com/pips.html
————————————————————
Categories: homebiz articles Tags:
Categories: richman Tags:
Offline Promotion Strategies 101
Today’s feature article is:
Offline Promotion Strategies 101
Copyright : Stone Evans, The Home Biz Guy
http://www.JaimeParmis.com/pips.html
No business can survive the long run without some form of
consistent advertising. As a result, most business owners will
eventually consider using advertising to promote their business.
The toughest part of the advertising equation is in determining
where and how to spend your advertising dollars. If you do it
wrong, you could plunk down your entire advertising budget and
receive absolutely no return on your investment. But, if you do
it right, your advertising could continue to bring a nice return
for years to come.
HOW DO I MAKE THE RIGHT ADVERTISING DECISIONS
In order to make good decisions concerning how to spend your
advertising budget, you must first have a good understanding of
the different types of advertising and promotion available and
what can be expected to be achieved by each.
1. You must understand which markets the different media`s can
reach.
2. You must understand the demographics of the media`s
consumers.
3. You must understand the buying habits of the consumers
reached through the media.
WHAT OFFLINE ADVERTISING & PROMOTION MEDIA`S SHOULD BE CONSIDERED
The media`s that people think of most often are television,
radio, newspaper and magazine advertising. Of course, these are
the big boys that big businesses use regularly.
Other methods of promotion include trade shows, press releases,
direct sales, telemarketing, word of mouth, branding and
billboard advertising.
CONSIDERING THE BIG MEDIA OUTLETS
The big boys of advertising media`s generally cost big bucks.
Given certain circumstances, the big media`s can be bought for
very little money.
Take for example, television, radio and newspapers cost big
bucks during their prime times, but can be bought for pennies on
the dollar during non-primetime hours.
Television primetime is between 7pm and 10pm. Radio primetime is
between 7am and 6pm. With newspapers, the primetime is
Wednesdays and Sundays.
If you intend to hit a media during prime time, get ready to
drop some bucks. Primetime means that you will be able to hit
more consumers during these times. So, in most cases, a
primetime buy will enable you to reach more people with your
advertising.
Non-primetime hours can still deliver a lot of eyes and ears to
your message, and sometimes, these off-hours can be bought for a
bargain basement price.
GETTING MILEAGE FROM EVENTS
Trade shows and press releases are more event-driven. The trade
show is the event, while the press release generally exploits an
event.
Trade shows are an exceptional tool when you deal directly with
potential sellers of your products or services. Other shows are
directed at the consumer, and those can be very valuable avenues
for sales as well.
The press release is aimed towards gaining attention for a
business by distributing newsworthy information about the
business.
Sometimes the appearance of a business at a trade show or other
show can provide the necessary angle for a press release. But
most often, a successful press release will actually require
more noteworthy information than the appearance of a business at
a show.
Yet, even the most mundane of information could be spiced up to
give the real air of importance necessary to get your press
release read and printed.
The great thing about a press release is that might permit you
to get relatively inexpensive promotion on television, radio,
newspapers and magazines; for far less than what it would cost
you to buy advertising in those same outlets.
UTILIZING A SALES TEAM
Depending on what type of business you run and the consumers you
are trying to reach, you might find direct sales and
telemarketing to be very lucrative ways to drive sales to your
business.
Both are very similar in nature. Direct sales can be very
expensive, as it requires a great investment of time to
accomodate. Telemarketing seeks to minimize the time
expenditure, but it often leads to a smaller degree of respect
and attention.
Depending on your product or service — and always depending
upon the people you employ to the task — each method will be
more suited to each business on an individual basis.
I grouped branding and billboard advertising together in my
original list for a reason. I did this because billboard
advertising serves most businesses best by helping to support
the process of branding.
Branding is the process of establishing your business as the
supplier of a certain product or service, or in emphasizing a
certain USP (Unique Selling Proposition) as it pertains to your
business.
If branding and USP seems to be a confusing concept, think about
Wal-Mart and their tag line: “Always Low Prices, Always.”
Think about Ford Motors, “Quality is Job One.”
Think about the Visa Card, “It`s Everywhere You Want To Be.”
You see, these top corporations have managed to make their USP
part of their branding.
Even if you are only competing in a local marketplace, your USP
can and should fit snugly into your branding strategy.
Whichever method or media you should choose to employ in your
advertising and promotion, you should become knowledgable about
your market, and the consumers reached by each media. It is
important to understand which consumers can be reached by a
certain media, and in what quantities.
However you choose to spend your advertising dollars, you should
always track the results of your promotional efforts. Failing to
track successes and failures will ultimately lead to the failure
of a business.
When you know whom you are trying to reach and how you think you
might be able to reach them, you will begin to learn how to use
advertising and promotion to make your business successful. That
is a good thing — after all, that is why you got into the
business in the first place, isn`t it?
About the Author:
————————————————————
Stone Evans helps ordinary people all over the world make
money online with affiliate programs. If you can follow 3
easy steps, you can get your own customized website,
autoresponder (email follow-up software) and pre-written
email marketing campaign professionally designed and
installed and ready to pull in profits for you in 24 hours
or less! See details at and sign up today at:
http://www.PlugInProfitSite.com/main-19755
————————————————————
Categories: homebiz articles Tags:
Difference between Marketing & Promotion
Today’s feature article is:
Understanding the Difference between Marketing & Promotion
Copyright © Stone Evans, The Home Biz Guy
http://www.JaimeParmis.com/pips.html
Are you an online marketer? Or do you simply promote affiliate
programs? Marketing is truly the most misunderstood word in use
today on the Internet. Let me see if I can clarify this issue
just a bit.
In Marketing 101 at your local university, marketing is actually
the process of Product, Place, Price and Promotion.
No business can exist without a product or service to sell.
In a nutshell, entrepreneurs are the people who believe in a
product, service or idea, so much that they are willing to
invest their lives into the development of their dream.
Historically, every major corporation in the world was started
by an entrepreneur with a dream and the drive to make it a
reality.
However, there comes a time in the life of every corporation
when those who fear the gambling nature of their founder, squash
the entrepreneurial drive that made the company a viable concern
in the first place. The entrepreneur will either submit to the
careful nature of the stockholders, or he will be forced to
leave the company he created.
The only entrepreneurs who withstand the pressure to move more
carefully are those who have maintained majority control over
their companies.
PLACE
In the offline world, place is defined by location. On the
Internet, place is defined by domain name and the web hosting
service chosen.
Both online and offline, place can make or break a company
without respect to the quality and value of the product, service
or idea.
Selecting a price is determined first on a basis of whether the
company wants to be seen as a discount or a value company.
Take for example Wal-Mart and Staples.
Wal-Mart is the lead discounter in the marketplace. Staples on
the other hand is the specialist in office supplies.
Both sell a significant number of office supplies despite the
fact that the lowest price can usually be found at Wal-Mart. As
a value dealer, Staples can afford to charge more for their
products than Wal-Mart.
So the question for you is whether you want to position your
company as a discount or value company.
Testing has shown that products and services can be sold at any
number of prices and still reach a significant number of people.
The challenge of selecting the best price for your product or
service will require a certain amount of testing.
UNDERSTANDING THE PRICING EQUATION
Let`s assume we are selling a product. Let us also assume that
we know that the product can be sold for $10 or $50. Let us also
assume that if the price dips below $10 or rises above $50, then
the product sales fall off significantly.
Our challenge is to determine the best rate at which to sell our
product.
Testing has shown us that we can sell 1000 items a week at $10.
Testing has also shown that we can sell 500 items per week at
$50. And testing has shown that we can sell 650 items per week
at $45.
At $10, our projected weekly earnings are $10,000. When we sell
the product at $50, we know that we can earn $25,000 per week.
Most importantly, we know that we can earn $29,250 when our
product is priced at $45.
With the imaginary testing we have done on our imaginary
product, we can easily see that selling our product at $45 per
item will earn us more money over the long haul.
Thus, when we make the decision for a national rollout of our
product, then we will price our product at $45.
Of course, this is a very simplistic analysis of the point I am
trying to make. Though simple, I believe this analogy will help
you understand the methods of developing a product`s prices.
Promotion, on the other hand, is the process of notifying the
consumers for your product or service of your availability to
serve them.
Methods of promotion vary distinctly and should be arranged to
meet very specific goals.
As with product, place and price, promotion should not be left
to chance. You should test every ad, every media, and every
price point to determine the best bang for your promotional
dollars.
If you are an online promoter or marketer, please factor in the
most important element concerning the cost of your promotions.
What element is that? Your time!
Value your time at a certain dollar amount, and figure in your
time into the cost of your promotional accounting.
I say this because too many online promoters lose sight of this
concept and spend 20 hours to generate one sale while using free
advertising. Even if you rate your time at the federal minimum
wage, then you will have invested $105 of your time for one sale
that might only net you a gross sale of $45!
ARE YOU TRULY A MARKETER OR ARE YOU JUST A PROMOTER?
Most people who run a business on the Internet call themselves
marketers. Yet, most of these same people are really just
promoters wrapped in the label of a marketer.
True marketers do not promote without a lot of advance work.
They spend time planning, testing and measuring their actions
and results to get the most out of every dollar spent and earned.
Entrepreneurs finesse the art of marketing as they build their
company into a major enterprise.
If you are a promoter who does not keep an eye on the total
marketing equation, then you are bound to fail.
If you do call yourself a marketer, then do what a professional
marketer does. Make sure that every dollar spent is spent well.
Make sure that every dollar earned is put to good use. Market
well so that when the people of the next generation look at your
life, they will see a fine example of a successful entrepreneur
that they will strive to emulate.
About the Author:
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Stone Evans helps ordinary people all over the world make
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