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>If you've already implemented the previous concepts, >you should be generating some sales. By noticing which >methods are working & recording the results you’ll >find the best ways to gain the profit you need. >At minimum, your records should be - Your sales level >with & without returned merchandise refunds & >exchanges. If you only track net money in, you won’t >know how much you’ve gained from your current >marketing program, unless no merchandise is returned >on a particular day. >After you’ve tracked merchandise returns, you’ll have >data for a basis in determining what kind of risk >reversal to offer. (I’ve written about risk reversal >on my web site & other posts here.) >You can determine if you want a separate risk reversal >for various merchandise categories. But be careful >about complicating your policies, plans & procedures >(3 Ps). Examples- No refunds for software purchases. >Exchanges will be made for defective media. Full >refund or exchange for defective computer hardware >with 30 days of the date on the receipt. >Hint- You might get more sales when you require >customers to take less of a risk. I’ve paid $10 more >for software to vendor with a full-refund, any reason >guarantee. The competitor didn’t have that kind of >guarantee. I didn’t know if the software would do the >job I needed done. I paid $10 extra so I wouldn’t be >stuck with $50 software I didn’t need. >You’ll never know all of the reasons/variables for >getting sales on one day but not on another. You can >probably figure some of them out. >Maybe you’ve had rainy weather for a week then finally >comes a warm, dry day. It’s the day you launched a >promotion & you didn’t get any sales. Could it be >because people wanted to be outside? Yes. >Or if your major promotion starts when an employer >lays off workers, or another business has a major >promotion, or there’s a big, popular social event, you >might not get much response. Look for & add these >factors to your notes so you won’t scrap a valid >promotion. > Communication >You should listen & ask questions as described in step >1. If you have employees, you should get their input >also. They can tell you what they’ve experienced with >customers & what they’ve experienced as customers in >yours & other businesses. >Too many business owners seem to think everybody knows >everything about products/services except the prices. >Why else would marketers think lists of >products/services & prices are enough to persuade >people to buy? OK, some add pictures. WOW! >As Stephen Covey often reminds us, “Seek first to >understand, then to be understood.” That’s a polite >thing to do in daily, personal level, life. In >business, it’s critical. How can you be understood >until you know what customers’ feelings, thoughts & >experiences are? These are parts of people’s paradigms >Stephen talks & writes about. >Example- Hypothetically, if I had never seen or heard >of indoor plumbing, how would you try to sell fixtures >to me? If you started by saying I wouldn’t need to go >to my outhouse anymore after I had the fixtures, I’d >be skeptical. I’d want to know what I’d do instead. If >you said I could stay in my house, I’d object. I >wouldn’t want to do any of it in my house because it >would be unsanitary. I’d have no idea how I’d get rid >of it. >If you showed me a toilet, so what? I wouldn’t want to >haul in more buckets of water to flush what you call a >toilet. >To work from my paradigm or reference frame, it’d be >better to start with the modern way of getting water. >Then you could add how that water can be used for >bathing & washing things without having to go to a >well for more water. >You could tell me water will come through pipes to my >sinks, bathtub & toilet. Pipes attached to the bottoms >of these fixtures route water -- & whatever is in the >water -- out of my house. >So, I won’t need to go outside in unpleasant weather >like I have since I was a boy? Now I’d be interested. >There’s A Benefit In The Communication, Besides >Getting Sales Later >Sometimes, just knowing somebody understands is a >relief & rapport increases quickly. Listening to >people is a form of flattery, so you can show people >they’re important & learn how to serve them better at >the same time. >In the time I spent doing market research for >businesses, people (those I called for clients) >thanked me for asking about their concerns. They >appreciate knowing a business owner cares enough to >talk to them or pay somebody else to talk to them. >The Sophomore In Us All >Now you may be starting to think you've made it this >far, so you can do it without having to pay a >consultant. That kind of feeling is partly what this >step is about. >Part of owning a successful business is finding what >it is about - 1) you, causing people to want or not >want to buy from you; 2) competitors, causing people >to want or not want to buy from them; 3) people >(themselves), causing them to want or not want to buy >from you; 4) situations, causing people to want or not >want to buy from anybody. >"We believe a jobs-to-be-done lens can help innovators >come to market with initial products much closer to >what customers ultimately will discover they value. >How to get as close as possible to this target? >Develop hypotheses by carefully observing what people >seem to try to achieve for themselves, then to ask >them about it." >(From The Innovator's Solution by Christensen & Raynor) >Everybody has “jobs-to-be-done,” they might not know >you can help them. Or they may know you have >solutions, but think they don’t need them. This is >described in this post- >It's Sadistic If You Don't Help Clients Find Their >Pain http://www.voy.com/fo/31049/151.html >This may require a few steps & it may not be a smooth >path. Usually the best way is to do it before creating >products/services. Since you have some already (made >by others I guess), then you'll need to approach it >from a different angle. You may have to "go back to >the drawing board" or planning level a few more times. >If your target market knows about the product benefits >& knows you offer them, can they find your store? By >using promotion methods I described on my web site & >other posts, you can help them find you. Don’t fool >yourself & think just because your store exists & >people pass by everyday they know you’re there. Even >if they noticed before, it doesn’t mean they’ll >consciously think about it. >Until people have a problem & think a solution may >exist, they won’t look for a solution. Our >subconscious minds (reticular activating systems) look >for or at least notice potential solutions when the >problem is noticed. Sometimes people may make a mental >note about a source if they think they’ll have a need >later. But don’t bet your life on this happening in >enough people to be profitable for you. >Is there something they don't like about the area your >store is in? Do they dislike the store? >Do they like your competitors' location better? >If so, think about the Listerine approach. Sure, it >tastes bad, but it kills germs. >Also realize after you find a successful approach, >competitors may use the Scope approach & make their >product a germ-killer & start talking about “medicine >breath” as less desirable than “minty-fresh breath.” >Or your situation may be the opposite. Almost anything >has advantages & disadvantages. People buying from >competitors may be putting up with disadvantages >because they don’t know about your advantages. Maybe >they think there’s more disadvantages in going to your >location. Maybe they perceive a real or imagined risk >in buying from you. >Many times, what’s an advantage or disadvantage >depends on a person’s situation. So, you may be able >to find a substantial, profitable target market who >don’t want to buy from another business. >Is your store is near other businesses or destinations >your target market goes to? What can you work out to >attract their customers, worshippers, members, >workers, audience, etc.? >This approach can eliminate or reduce the disadvantage >of your store being “too far” from their homes. >Especially with the extra high fuel prices, you can >help justify going to your store. It may be just a >little farther, but they’re in the area anyway. >Location, Location, Location is/are supposedly the 3 >most important things in retailing, but that's not >accurate. >Too many businesses have started & ended in good >locations. I realize a good location now, can be a bad >location in the future. >Many small businesses fail within a year after an >owner sold it then retired. Why didn’t the new >owner(s) succeed? It seems it’d be easy since the >location is right (somebody else was already >successful with that business there), especially after >somebody else established a customer-base & “trained” >people to go there for solutions. That’s definitely a >turn-key operation. But too often business owners take >things for granted. In effect, they turn the key the >wrong way or too hard & break it off in the lock. >So, your assignment this time is to use information >you got from implementing step1 to determine what your >target market feels are the advantages & disadvantages >of doing business with you. Then figure out how to use >the advantages & lose whatever disadvantages you can. >But keep doing step 1 & refine your methods. > >Dennis S. Vogel >thrivingbusiness@email.com >Do you understand how better methods can bring you >better results? If you’re ever going to do what you >can to get better results, when will you start? Using >better methods tomorrow won’t increase your results by >much tomorrow. Starting implementation as early as >possible gets your better results as early as possible. >http://web1.lakefield.net/~thrivingbusiness/ >http://www.voy.com/31049/

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