Secrets of Marketing Mindset

Business Principles Not Everyone Tells You

Today I am going to share with you some basic concepts of marketing mind-set that not everyone practices. These are highly useful methods to use online and offline which will help you to establish the relationships you need to earn a sale from a prospect.

The first thing you need to understand is that many times when people buy from you it is because of you and what you represent to them based on the impression you give them when they visit your site, read your content, sales piece, or recommendations. This impression of who you represent to them should always get your prospect to: know you, like you, and trust you.

Seems simple right? Well it is a different proposition for different marketing strategies and site models. If you are selling a product you created you will need to get them to trust you in order to buy. Once you have built up the value of your product to the point that you are completely fulfilling a desire or solving a problem they have many will still hesitate to buy and need to often know you, like you and trust you before ordering.

This is obviously not always the case for example if you are selling an affiliate product they may just need to trust that you will not scam them. Something as simple as linking to a product directly on a well known site such as Amazon can often allow them to trust what you are selling.

Secondly there is a law of obligation or reciprocity which works with most people and you can use it to your advantage in most marketing campaigns you run. If you give people valuable free information or tools or services in exchange for their email or contact information people who are remotely interested in what you are selling will be more likely to become prospects and sales for you.

Again this seems simple doesn’t it? But many people are afraid of this marketing strategy of giving away any of their good advice freely for fear of losing sales or the full selling value of something. This has been proven time and time again to be false. The more free value you offer people without sacrificing your chance of selling the whole enchilada … the better.

Free valuable information can be given in many forms which include: email series, e-books, audios, video seminars, podcasts, software trials, videos, consulting sessions, and physical products sent out with shipping costs only. All of these business marketing offers work to varying degrees…try several to find out which work best in your market. The law of karma or reciprocity works and it’s real.

Get people interested in you and why you are selling what you are selling, but more importantly what’s in it for them. That is always the decision maker for people, but they also like to know the person they are buying from has their interests in mind and is one of them. They need to feel that you care and will be there for them to help in their buying decision should they decide to buy something.

Be truthful and always deliver on your promises to clients and prospects. If you are not able to deliver what you promised be prepared to refund those who were not happy with your unfulfilled promise. If someone is dissatisfied be prepared to over deliver on your product in order to win them over within reasonable limits. In order to determine how much you can over deliver it is necessary to know your client’s life time value or ltv.

Life Time Value is how much each customer is worth to your business on average over their life as a customer to your business. Value per site visitor is how much each site visitor is worth on the front end of your advertising efforts and sales or in your short term marketing plan.

Yes, it varies. But let’s take an average life time value to you over a three-year time frame. Now add all the dollar amounts of every sale you’ll make in the next three years. Now minus the cost of service and products and that number is the approximate “lifetime value” of your customer. So you arrive at a value of $10,000 let’s say…Now the question is “how much are you willing to spend to get one of these accounts and not ruin your business?” This obviously depends on your business model.

You really need to know what your customers are worth short term and long term and be able to forecast your goals based upon those numbers. How much is too much to spend? This completely depends on your funds available up front and your product mix or marketing model. If you have a goal of making 100 times return on your investment you will only want to spend $100 to acquire a customer maximum.

Decide how much you can spend for new customers before beginning online marketing. This amount is not inflexible and will change as your business expands. But you need to set baseline spending ability forecasts so you can make decisions on when to pay for marketing and how much. Having these guidelines in place will really help your business not to run into the negative too far and fail.

Marketing Mindset Can Make Sense

Author: Scott Holden – TrafficEraBlog