Your-Business Newsletter #482
February 9, 2006As of today, we have 46,685 Subscribers.
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From: Bob Osgoodby - bob@adv-marketing.com
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- 3/29
In this edition
** Biz-Tips by Dr. Kevin Nunley – Success Story: Homemade Postcards** Featured Article – The Myth About Price by Kelley Robertson
** Trivia
** A Little Levity – Early to Work
** Publications of Interest
** Stress Tip by Dr. Rae Baum
** Fact Of The Day
** Health Tip of the Week – Still On The Rise: Acetaminophen Poisoning
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Friends may come and go,
but enemies tend to accumulate.
Biz Tips
by Dr. Kevin NunleySuccess Story: Homemade Postcards
Maria has a marketing method that is almost too cheap and simple to be true--but it works. She loves to take photos of places she visits and has turned her hobby into a forceful marketing campaign.
Maria says she picks favorite photos of waterfalls, mountains, buildings, people, and anything that will get attention in a stack of mail. She orders multiple prints. Then she writes a marketing message on the back of the photo along with the customer's address and a stamp.
That's it! People react when they see a photo in their mail. The personalization stands out as something nice and different.
One man built a successful small record company using this method. He told me, " People get so much marketing stamped out by a machine that they notice and remember you for sending them something personalized."
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Looking for ways to market your product, service, or idea? Ask Kevin! He'll give you fresh promotion ideas free. Reach Kevin Nunley and his staff of marketing experts at kevin@drnunley.com or 801-328-9006. See the promotion packages that are working best for his customers at http://DrNunley.com
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- 3/22 Trivia
The letters "M.G." on the British sports car actually stand for "Morris Garage."
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**Featured Article**
The Myth About Price
by Kelley RobertsonIn today’s competitive business environment, it often seems that the most important aspect of someone’s buying decision is price. People constantly ask for lower prices, compare our prices with the competition, and badger us to give them a better deal. Regardless of what you sell, you probably face price objections on a regular basis.
I will never dispute that price is a factor in every sale. However, it is seldom the primary factor. If price was the only reason people bought goods and services, high-end boutiques and companies that sell premium products would not exist.
That means we need to learn how to resist the temptation to offer too much of a discount, too quickly. Here are a few ideas that can help.
Do your research. If you cold call on companies then conduct some preliminary research BEFORE you call them. Find out as much about that company as possible. Thoroughly browse their website, ask for a copy of their annual report, and talk to other people in the company if possible. Figure out what problems they are facing and determine exactly how your product or service can help them solve those problems. The more information you have about your prospective customer, the more relevant you can make your sales presentation to their specific situation.
Adapt your presentation. Most sales people try to tell their prospect everything about their product or service during a sales conversation. Instead of taking this shot-gun approach, adapt your presentation so that it addresses the specific issues your prospect or customer faces. Remember to focus on the benefits of your product/service, not the features. Too many sales people ramble on about the features of their products and services. But people don’t buy features they buy a solution to their problem. Position yourself as an expert and demonstrate to people how your product or service will help them solve their particular problem.
Establish the value of your product/service before you discuss price. The sooner price is brought up in the sales interaction, the more of a focal point it will become and the more difficult it will be to demonstrate your value. When price is presented too early in the conversation, everything that is said afterwards comes across as trying to justify that price. I encounter this regularly in my business because one of the first questions most companies ask me is, “How much do you charge for a presentation?” I have learned to redirect this question until I have fully assessed their situation and presented a relevant solution. If someone insists on an immediate price – and it does happen from time to time – I never get the sale. You need to increase the value of your product or service in your customer’s mind before you actually discuss the dollars associated with it. This does not mean telling your customer everything about your product though. It means taking the time to thoroughly assess their situation and position your offering in a manner that shows them how they will benefit.
Show tangible results. This is particularly important when you deal with C-level decision makers. High level executives seldom care about the details – instead they want a macro view of the solution. I fell into this trap when I was contracted to deliver a train-the-trainer session for a client. The VP dropped by the meeting room and after a few pleasantries I began telling him the details of what his trainers were going to learn. But he wasn’t interested in this. All he wanted to know was whether or not we had prepared a detailed outline so his internal trainers could deliver the program consistently across the country. It would have been more effective for me to have said, “Mr. VP, when this workshop is completed your trainers will be able to teach your sales team exactly how to improve their sales. When you combine it with the follow-up program, it means that you will see an increase in your sales.” Whenever possible, translate the benefits of your product/service into actual dollars. This approach is extremely effective in reducing price resistance. For example, if a company will save thousands of dollars in operating costs after implementing your solution then a purchase price of several hundred dollars seems worthwhile.
It amazes me how often sales people will automatically drop their price at the first sign of price resistance. However, most consumers, and certainly all corporate buyers, have learned that pushing back will save them money. What’s even more interesting is that many sales people offer a discount BEFORE they are even asked. Not only does this affect your profitability, it also teaches your customer that you have price flexibility and conditions them to ask for further price concessions, now and in the future.
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Kelley Robertson, President of the Robertson Training Group, is a professional speaker and trainer on sales, negotiating, and employee motivation. Receive a FREE copy of “100 Ways to Increase Your Sales” by subscribing to his 59-Second Tip, a free weekly e-zine available at http://www.RobertsonTrainingGroup.com.
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Quote of the Day
Perseverance is a great element of success. If you only knock long enough at the gate, you are sure to wake up somebody.
- Longfellow
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A Little Humor
Early to Work
=-=-=-=-=-=-=Since I was the first to arrive at our high-tech company one morning, I answered the telephone. When the caller asked for field engineering, I explained that it was before normal business hours, but that I would help if I could. "What's your job there?" the caller asked me.
"I'm the president," I replied.
There was a pause.
"I'll call back later," he said, "I need to talk to someone who knows something."
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The Doctor called Mrs. Cohen saying, "Mrs. Cohen, your check came back."
Mrs. Cohen answered, "So did my arthritis!"
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This older man was on the operating table awaiting surgery and he insisted that his son, a renowned surgeon, perform the operation. As he was about to receive the anesthesia he asked to speak to his son.
"Yes Dad, what is it?"
"Don't be nervous, do your best and just remember, if it doesn't go well, if something happens to me, your mother is going to come and live with you and your wife."
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Two friends, one an Optimist and the other a Pessimist, could never quite agree on any topic of discussion. One day the Optimist decided he had found a good way to pull his friend out of his continual Pessimistic thinking.
The Optimist owned a huntin' dog that could walk on water. His plan? Take the Pessimist and the dog out duck hunting in a boat.
They got out into the middle of the lake, and the Optimist brought down a duck. The dog immediately walked out across the water, retrieved the duck, and walked back to the boat.
The Optimist looked at his Pessimistic friend and said, "What do you think about that?"
The Pessimist replied, "Dog can't swim, can he.”
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RiddleSaturday and Sunday, I am big. Tuesday thru Thursday I am small.
And, Monday and Friday I am non-existent. What am I?Do you know the answer? Scroll down to find the solution.
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If #2 pencils are the most popular
why are they still #2?
Publications of Interest
In each issue, we swap a notice with another E-zine. Most of the time they are invitations to subscribe to their publication, but sometime it could be for a product or service they provide.
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- 3/1
- Stress Tip
- by Dr. Rae Baum
You will find this "Stress Tip Message" helpful to stay focused and on purpose. You can put this message to work by reading it often throughout the day."With courage, confidence and determination, you can make this world a better place than the way you found it."
---- Dr. Rae ----
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- 3/29
Fact of the Day
Cat's cradle is one of the most universal games in the world. Played in almost every culture, what is a puzzle to ethnologists is that widely scattered peoples -- Maoris of New Zealand, North American Indians, Arctic Eskimos, and Africans, for instance -- make figures of string between their hands that are exactly the same.
Health Tip of the Week
by Dr. Earl MindellStill On The Rise: Acetaminophen Poisoning
Acetaminophen—more commonly known as Tylenol—is tough on the liver. The research is conclusive that people who overdose on this drug, or take too much in combination with other drugs or alcohol, can damage their livers badly enough to have a fatal outcome. This has been well-understood for at least a decade.
Unfortunately, research still shows that unintentional acetaminophen poisoning continues to occur, and that the incidence of such poisonings continues to rise. In a 2003 study that surveyed 23 transplant centers across the United States, it was found that nearly half of the patients who showed up with acute liver failure had ended up there as a result of acetaminophen poisoning. In 1998, only 28 percent of liver failure cases were due to this factor.
An estimated 44 percent of the cases in the 2003 study were a result of suicide attempts by people who swallowed handfuls of acetaminophen pills. But in many other cases, liver failure was the result of the steady use of Tylenol in combination with OTC (over-the-counter) flu medicine by young women who weren't eating much. This could introduce six grams of acetaminophen into their bodies each day, which is in some cases enough to cause liver failure.
A major part of the problem is that acetaminophen is an active ingredient in many cold, flu, and pain medicines. By using several of these OTC meds in combination, one could easily surpass the recommended dose. Some prescription medicines combine acetaminophen with narcotics like Percocet or Vicodin, so that a person under the influence could easily take more doses or higher quantities than prescribed without knowing it. Combining alcohol with any acetaminophen-containing drug is a recipe for disaster. Following surgery, people who use a combination acetaminophen/narcotic drug may end up gradually increasing their dosage to get adequate relief from the narcotic, and their livers can crash under the strain after weeks or months of this kind of treatment. Kids experimenting with catching a “buzz” by drinking whole 10-ounce bottles of NyQuil don't know that there's enough acetaminophen in one bottle—9.8 grams—to be very, very dangerous to their livers.
Current use of acetaminophen-containing pain medications is rising because of concerns about the safety of other pain drugs. Keep careful track of the amount of acetaminophen you use: two to four grams per day or less is the threshold to stay under. If you drink at all, think twice about reaching for acetaminophen. Warn teens that catching a buzz from NyQuil or other cold/flu medicines could kill them.
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To learn more about how Dr. Mindell can help you get into the best shape of your life, visit: http://keith.freelife.com/redir.cfm?page=/info/nutrition/drearlmindell/body.cfm
PCisms (Politically Correct Terminology)
Poor– FinanciallyChallenged
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Copyright – 2006
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