Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home/a26f9f83/public_html/articles/includes/config.php on line 159
4 Marketing Myths Threaten Your Sales > NetSparsh - Viral Content you Love & Share

4 Marketing Myths Threaten Your Sales

These 4 marketing myths can cause you to lose sales if you base your marketing decisions on them. But the related marketing tips I included with each myth will boost your sales if you act on them instead.

Myth 1:
People Always Buy Where They Get the Cheapest Price

If this was true, only businesses that charge cheap prices would exist. Some people buy where they get the cheapest price. But most people are more interested in getting value for their money than in getting a bargain.

Tip: Look for some low-cost ways you can enhance the perceived value of your product or service. Then test raising your price. Don't be surprised if both your sales and your profit margin go up.

Myth 2: v Offering Your Customers Many Options Will Boost Your Sales

Presenting your customers with options usually reduces your sales. Here's why...

When confronted with several options, most customers have difficulty making a clear decision. They often react by procrastinating - and never making a decision. When this happens, you lose a sale you already had.

Tip: Try to limit your customer's decision making to either "Yes. I'll buy." or "No. I won't buy". Don't risk losing them by including "which one" decisions.

Myth 3:
Everybody Needs My Product/Service

That's what YOU think. Most of them don't think they need it ...and most aren't ready to spend their money for it.

The hazard of this myth is that it causes many marketers to believe they can succeed without doing much marketing or selling. They think their product or service is so special that it should automatically generate hordes of paying customers. Unfortunately, it doesn't happen that way.

Building a successful business is hard work - most of it devoted to finding customers. Even if most people can use your product or service, you still need a marketing strategy to reach them and a persuasive sales message to close sales.

Tip: Look for narrowly defined niche markets where your product or service solves a unique need of the customers. Focus your marketing on them instead of trying to reach a broadly defined general market. You'll generate more sales and enjoy a better return on your advertising expense.

Myth 4:
Keep Changing Your Advertising or Your Sales Will Decline

This sounds logical but it's not true. Never abandon advertising that's working. I know many businesses that have been using the same advertising for years and they're still growing. Here's why...

The goal of most advertising is to attract new customers. Once someone becomes a customer, they won't respond to that advertising again. But you can use different (and cheaper) advertising to generate additional sales from them.

But there's still a large population of non-customers who didn't respond to your regular advertising. Most have not seen it yet ...and those who have usually need to see it numerous times before they will respond.

Don't abandon advertising that's working - but keep trying to improve it. And regularly test new things to see how they work for you. If you never make any changes in your advertising, your sales will eventually decline.

Tip: You can automatically keep your advertising up to date by allocating 80 percent of your budget to proven promotions and 20 percent to testing new things. When something new works better than your proven promotions, move it to the 80 percent group and start testing something else in the 20 percent category.

Don't believe these 4 marketing myths. They're not true. Marketing based on them will cause you to lose sales. Instead, apply the related marketing tips I included after each myth to boost your sales.

Copyright 2004 Bob Leduc http://BobLeduc.com

Bob Leduc spent 20 years helping businesses like yours find new customers and increase sales. He just released a New Edition of his manual, How To Build Your Small Business Fast With Simple Postcards... and launched *BizTips from Bob*, a newsletter to help small businesses grow and prosper. You'll find his low-cost marketing methods at: http://BobLeduc.com or call: 702-658-1707 After 10 AM Pacific Time/Las Vegas, NV

In The News:

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at https://news.google.com/news

Pinewood Stock+ delivers car sales management via smartphone
AM
Pinewood has made it possible for its car dealer clients to sell and manage vehicle their stock directly from their smartphone or tablet with the introduction of its new Stock+ app. Neville Briggs, the managing director at the Pendragon-owned ...

and more »

Forbes

How Sales Managers Secretly Sabotage Revenue
Forbes
Into Obscurity. If you're like most business leaders, you invest heavily in your sales force. In fact, if you add up all the money you spend on training, incentives and technology, you might be alarmed at the size of your ongoing investment in improved ...


Local biz books full of advice
The Herald-Times
I recently read an excellent set of books from local author Chip Helm about how humility and relationships build sales and career success. Helm is an executive with Cook Medical and has had a 30-year career in sales and sales management with the ...


HuffPost

Exclusive: Wells Fargo Automated High-Net-Worth Wealth Management As Advisors Faced Sales Pressure
HuffPost
But in the upper echelon of a different division of Wells Fargo — its Wealth and Investment Management division — the intense pressure for sales is alive and well, according to hundreds of pages of internal documents reviewed by Yahoo Finance, and ...
Wells Fargo automated wealth management, pressed advisers to focus on sales: reportFox Business
Wells Fargo Advisors Shifted to SalesBarron's

all 189 news articles »

Firstpost

Infosys rejigs business units to improve focus of sales investments, increase management oversight
Firstpost
New Delhi: Infosys has reorganised some of its business segments as part of its efforts to improve focus of sales investments and increase management oversight. The Bengaluru-based company has carved out communications (earlier a part of energy, ...

and more »

BevNET.com

Sacramento-Area Sales Representative
BevNET.com
Greene & Hemly have been in the Northern California fruit industry for nearly 200 years as a world-class leader in fresh fruit farming specializing in pears, apples, kiwi and jalapeno chili production. This expertise and passion for pears has resulted ...


Training Journal

What elements do world-class sales managers have in common?
Training Journal
Sales managers have one of the most important roles in any sales organisation, because they oversee the sales team itself. As a result, they have a role to play in hiring new talent, retaining existing talent and ensuring all salespeople have the ...
A Prescription For Sales Enablement: Start With The Problem, Not SolutionForbes

all 2 news articles »

MarTech Series

ClosePlan Launches To Streamline Team Workflows And Transform Sales Cycle
MarTech Series
ClosePlan's innovative platform solves two seemingly simple, yet critical challenges that ail most organizations by closing the communication gap between sales leaders and, the rest of the company while also supporting sales managers through their ...


Sales Manager - San Jose
Brewbound.com
Responsible for all sales within a given metro territory; Responsible for key account growth and management within defined market; Lead a team of 5-10 Sales Reps and help them meet and exceed our goals; Coach Sales Reps in their daily sales activity ...


Sandvik Sales Up 12% in 2Q18
Modern Distribution Management
Swedish manufacturer Sandvik (STO: SAND) reported sales for the second quarter 2018 of SEK 26.1 billion (US$2.9 billion), a 12 percent increase year-over-year. Profit increased 55 percent for the quarter increased to SEK 3.4 billion (US$0.4 million).

Google News

The Four ?D?s of Sales Management

Recently I stumbled across some notes that I had kept... Read More

T. L. S. Part I: Tier Level Selling ? A Penetration Strategy

A number of sales "Gurus" have promoted the theory that... Read More

Producing Premium Performance

One of the major issues that arises in managing a... Read More

Is Your Sales Trust Factor High Enough to Win Against the Competition?

How high is your sales trust factor?Is it higher than... Read More

Rotten to the Core: The Story of How the Best and Brightest can be Ruined

The objective of an incentive is to incite action within... Read More

Leadership Lessons for Sales Managers

Leadership, like class, is hard to define, but easy to... Read More

How to Beat the 80/20 Rule in Sales Performance -- Part 1

Business executives and sales managers frequently bemoan "80/20" performance on... Read More

Sales Coaching... Fact or Fiction?

The old adage in selling has always been, "Find out... Read More

100% Commission Equals Zero Percent Control

The temptation to use straight (100%) commission plans never goes... Read More

Transforming Your Sales Force by Creating Specific Expectations

I just finished a phone call with a potential client... Read More

Why Performance-Based Recruiting Produces Top Sales Performers

Many recruiting ads and job descriptions include "knockout factors" that... Read More

Hire A Six, To Consistently Produce Sales Success

For many years as a sales manager, I would only... Read More

Sales Forecasting For New Businesses

Sales forecasting is the process of organizing and analysing information... Read More

The Product or the Sale

This is a quandary not unlike the chicken or the... Read More

The Top 5 Issues Facing VPs of Sales

A recent study of 2,663 sales organizations by Think Training,... Read More

Business Career, Executive Coaching Article - Perfection vs. Excellence

"(Howard) Hughes never learned how to convert his knowledge to... Read More

Want to Increase the Amount of Business that Your Firm is Getting?

Business development is important for every business and refers to... Read More

Franchise Sales; Recruiting of Laid Off Employees

Because of corporate downsizing, many people have been laid-off or... Read More

Outsourcing the Sales Function

Small to medium companies that want to increase sales or... Read More

Baditude!

As a group of sales trainees took a break from... Read More

How to Improve Your Management Procedures Usability

Are your people consistently following your procedures? Each year, organizations... Read More

Do You Know How to Fire Up Your Sales Staff (When Money Isnt Everything)?

Money is the only thing that motivates a salesperson, right?... Read More

8 Line Items of a Trade Show Budget

Budget Guidelines for Trade Show MarketingB'techa didn't know - Trade... Read More

Overcoming Sales Objections for Small Business Networks

Do you need help overcoming sales objections? Do you sell... Read More

The Nine Warning Signs that You Need a Sales Video

Corporate videos are an important sales tool that can often... Read More