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#tbt #BrooklynVermont #MeccaUSA #HiLifeLounge #FridgeMagazine @woodyrichards24 (learned 1st day) @alldaydaoyi (Took me to the top--wtf) @denjiu (Stayed with me whilst I snailed downward) @kennyscoolout (1st AND LAST time) @mikipassport (the shirt Design!) You had to be there... Glad I was.
Are You Selling Water Or Diamonds?
Are You Selling Water Or Diamonds?
In starting three profitable businesses, my advice, both preached and practiced is this: *always ask yourself if you are selling water or diamonds*. It is a marketing theory known as the water-diamond paradox. Water is a daily necessity, diamonds are not. Nevertheless, we put a high price on diamonds but not water. This raises the question, *how do we measure value?* The answer lies in availability. Value comes not from the need but from the value placed by consumers.
If your service/product is water—great! You fill a need! But, it might not sell because it’s not valued enough to be attractive, much less purchase-worthy of the consumer. So then you make it a little more like a diamond: somewhat less available, raise the price slightly, make it exclusive, limit release or place it with another prized product such as
What if you are selling a diamond product? Though your product is presented as a diamond it may not sell immediately. Why is that? If it has yet to be possessed, then value has yet to be added. Now, make it a little more like water: possibly offer a lesser version that consumers are able to realistically attain, while withholding the greater until it takes off. Another course of action is to make the product/service appear as a necessity, similar to the diamond industry’s lure with weddings.
Selling either water or diamonds is possible. However, you have to disguise your water as a precious stone and transform your diamonds into a necessity to see mobility occur in your business.
Written by Beret Kirkeby
Beret is an entrepreneur and small business owner in NYC who runs a rehabilitory massage clinic, Body Mechanics Orthopedic Massage NYC. Before BMOM, he owned a smaller therapy business and a large gourmet food retail store in Canada.
from Fridge Magazine http://www.fridgemagazine.com/business/marketing/sales/are-you-selling-water-or-diamonds/ via IFTTT
Join A Face-To-Face Networking Group To Grow Your Business
Here’s a very helpful piece of advice to grow sales:
Join a face-to-face business networking group, so that people can get to know, like and trust you. As long as you give without any expectation of anything in return, you will get plenty. I see it all the time .
Also, invite people for a coffee, to get to know them better and genuinely see how you can help them, again with no expectation of anything in return. When you help someone, the rule of reciprocity kicks in and they will try to help you in someway, which may be indirectly. When you do meet with these people, listen 80% of the time and show them that you are listening by asking good follow up questions, and by sending them a note or email summarizing your meeting in bullet points. If you can go out and quickly find a prospect or vendor that they are in need of, then you will begin to build solid trust and likeability.
from Fridge Magazine http://www.fridgemagazine.com/business/marketing/sales/join-a-face-to-face-networking-group-to-grow-your-business/ via IFTTT
How ‘Active Listening’ Will Improve Your Sales Skills
Why you need to work on ‘Active Listening’
Any sales call or for that matter, a broader sales effort, requires that
you listen to your customer. To be successful in sales, you must
demonstrate “Active Listening”.
“Active Listening” requires that you sell your customer while also
being responsive to any needs that you may not have initially anticipated.
It is all too easy to spout out canned responses to rebut your customers
concerns. However, the sign of a true sales master demands true
“Active Listening”. All too frequently, new sales people or new start-up
organizations have preconceived ideas about how their product should
be viewed in the marketplace. It is always best to listen to your customer
in order that you can be flexible and possibly even modify your sales
approach or strategy along the way.
By doing these things, it will help you to get better at selling.
from Fridge Magazine http://www.fridgemagazine.com/business/marketing/sales/how-active-listening-will-improve-your-sales-skills/ via IFTTT
Why Referral Selling Is So Powerful
Are you using referral selling in your business?
Referral selling is, hands down, the most effective and least expensive way to attract and retain new clients. A referral means you receive an introduction to exactly the person you want to meet. The person knows who you are and wants to talk to you.
Relationships still power our lives-and our sales. Referral selling is the only sales strategy where you get meetings at the level that counts and arrive pre-sold, having already earned trust and credibility. It’s the only strategy that is guaranteed to shorten your sales process, and to eliminate sales and marketing costs. It’s the only strategy that converts prospects into clients more than 50 percent of the time.
Would you prefer to do business with:
Someone who reached out to you via a cold call, or
Someone you met through a friend or colleague with whom you have an established, respected relationship?
It’s really a no-brainer. While our competition is still playing around on social media, trying to figure out who the decision-maker is, we’re in the conference room sealing the deal.
Referrals Win Every Time
The business case for referrals is loud and clear:
Decision-makers always meet with those referred by people they know and trust.
If your competition gets to the decision-maker first, you’re out of the game.
When you get the referral introduction, you win.
It really is that simple.
No other sales or marketing strategy delivers such powerful, predictable results. Yet, 95 percent of companies do not have a written referral selling strategy, written weekly referral goals, referral-selling skills, accountability for results, or a system to track and measure referrals. Referrals are the missing link in every company’s business-development
from Fridge Magazine http://www.fridgemagazine.com/business/marketing/sales/why-referral-selling-is-so-powerful/ via IFTTT
If At First You Don’t Succeed, Fail Forward
If At First You Don’t Succeed, Fail Forward
Like all things in life, running a business has its ups and
downs, its highs and lows, and its successes and failures.
Celebrating the sweet victories is easy, but how do you cope
with the agonies of defeat?
First things first, like it or not, failing is inevitable. Every
single person has failed at one time (or in most cases, lots of
times). Throughout history scores of renowned great achievers
not only failed, but failed over and over again. When Albert
Einstein was young, his grades were so poor that a teacher asked
him to quit, saying, “Einstein, you will never amount to
anything!” Michael Jordan was cut from his high school
basketball team for his lack of skill. Winston Churchill failed
the 6th grade. Soichiro Honda was turned down for an engineer
position with Toyota Motor Corporation.
Here’s another truth: Failure is not something to fear.
Thanks for Janna Hoiberg (jannahoiberg.com) for sharing this with us
from Fridge Magazine http://www.fridgemagazine.com/business/business-tips/if-at-first-you-dont-succeed-fail-forward/ via IFTTT
Why You Need To Think About These 6 Questions To Improve Sales
The best sales tip is for the business owner to think like their customer.
Put yourself in your customer’s shoes.
What are their concerns?
What do they need?
What is a reasonable price from their point of view?
What are your competitors offering them?
What is your marketing message?
Is it getting their attention?
If not, ask clients for feedback. Talking directly to clients and getting
their feedback is really helpful. Don’t waste time and money hiring a
marketing company. Do the field work yourself. This will help to
grow your business & improve customer relationships.
Thinking about these 6 questions can dramatically help to improve sales in your business and build relationships with customers.
from Fridge Magazine http://www.fridgemagazine.com/business/marketing/sales/why-you-need-to-think-about-these-6-questions-to-improve-sales/ via IFTTT
A Sales & Life Tip You Can Implement Today
I’ve learned to listen, INTENTLY and if I’m a call, I’ll place myself on
mute, so I NEVER accidentally interrupt a customer. If you let people talk
long enough, they’ll tell you EXACTLY what you need to know.
Then I ask with who, what, when, where, and how questions, such as…
How does this problem affect you PERSONALLY?
Who else will need to provide input to solve this problem?
What could stop your company from moving forward?
Advice from Michael Bremmer,the CEO of Telecomquotes.com
from Fridge Magazine http://www.fridgemagazine.com/business/marketing/sales/a-sales-life-tip-you-can-implement-today/ via IFTTT
