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Posts Tagged ‘product development’

Reverse the Risk and Explode Your Profits

October 23rd, 2011

Jim Palmer: The Newsletter Guru

Hi All!

The following guest blog post is courtesy of Jim Palmer who is internationally known as The Newsletter Guru. Jim is the premier go-to resource for maximizing the profitability of customer relationships.

So without further delay, let’s jump into his informative article, “Reverse the Risk and Explode Profits”:

I have a question for you. Why don’t more of your customers or prospects buy from you? If your answer is “because of price,” you’re probably wrong. I coach a lot of entrepreneurs and small business owners, and when our discussion turns to reasons for not buying, invariably the excuse is price. “My customers don’t say ‘yes’ more often because of price.”

In reality, customers don’t say “yes” more often because of skepticism, or lack of trust or perceived value. It’s what Zig Ziglar emphasizes as one of the five obstacles to a sale: no trust. Lack of trust is probably the biggest obstacle between your company and a sale. It’s rarely price. The reason more of your customers or prospects don’t buy from you is that you haven’t done enough to build your customers’ trust in your products or services.

Why the 30- or 60- or 90-Day Warranty Is Not Enough!

You’ve heard of Murphy’s Law: Anything that can go wrong will go wrong, usually at the worst possible moment. Well, there’s another variation of that, and it goes like this: The product will cease working exactly one day after the warranty expires. Enough of us have had that exact experience that it lends credence to the veracity of the law. We all take those 30- or 60- or 90-day warranties with a grain of salt. It makes us skeptical consumers.

Your customers are no different. They’re wondering, “What if it doesn’t work? What happens when it fails? What if I don’t get the result I was expecting?” They may be on the fence about buying from you. You’ve done a lot to move them to consider buying from you, but they’re thinking, “Yeah, I kind of like it. It sounds like it will solve my problem. I think the price is fair, but what if . . . ?”

Get rid of the “what if,” and you can close the deal. It’s easy to do. Easy? Yup. All you have to do is reverse the risk. Risk reversal means that you, the business owner, assume all the risks associated with purchasing the product (or service), so it’s going to work to your customers’ satisfaction. If they’re on the decision fence and have nothing to lose, they’re going to buy.

Let’s be clear—square one is that you must offer a high-quality product or service. That’s a given. It’s a no-brainer. Some of my coaching clients assure me that they do (and I believe them), and then they go on to tell me about their 30- or 60- or 90-day guarantee. That sort of offer simply makes people skeptical because we’ve all been burned by that warranty version of Murphy’s Law. What happens after 30 days? What happens after 60 or 90 days? When prospects wonder about that, they’re going to be hesitant to buy. You haven’t gotten them over the trust hurdle.

The L.L. Bean Approach:

“Our products are guaranteed to give 100% satisfaction in every way. Return anything purchased from us at any time if it proves otherwise. We do not want you to have anything from L.L. Bean that is not completely satisfactory.”

As the story goes, a woman returned a pair of boots after fifteen years because the sole had worn out. She thought they should have lasted longer. They were replaced, no questions asked. That’s a rocksolid, stand-behind-your-product guarantee.

A super strong guarantee shows that you are supremely confident in your belief that your products and services do what you say they are going to do. It should be paramount in whatever you sell in the first place. So if that’s true, and if you are supremely confident, then give an ironclad guarantee. You have nothing to lose, and everything to gain—sales and higher profits. Your ironclad guarantee is just what your customers need to increase their trust and lose their fear of risk. When they have nothing to fear and nothing to lose, they have no reason not to buy.

Your super strong guarantee needs a few things to really make it work. First, it has to have a specific name, and when possible, the name of your guarantee should be associated with the benefit of your product and the degree to which you back it up. Second, it needs a specific logo. A lot of entrepreneurs use a seal in conjunction with their guarantees, and that image resonates with customers. It’s like the Good Housekeeping “Seal of Approval.” That seal, and the guarantee behind it, have been around for more than one hundred years. The Good Housekeeping Research Institute tests products and only offers the seal on those that pass its strict standards. It’s an ironclad, rock-solid guarantee. Consumers know they can rely on the product if it has the seal. They can trust it!

Jim Palmer is internationally known as The Newsletter Guru, the go-to resource for maximizing the profitability of customer relationships. Jim is also the acclaimed author of The Magic of Newsletter Marketing – The Secret to More Profits and Customers for Life and also Stick Like Glue – How to Create an Everlasting Bond with Your Customers So They Stay Longer, Spend More, and Refer More, and The Fastest Way to Higher Profits – 19 Immediate Profit-Enhancing Strategies You Can Use Today. Learn more about Jim and all his programs at: www.NewsletterGuru.TV.

 

 

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Cool Service For Publishing A Book and Product Development

December 15th, 2010

Hi All!

I’m certainly behind on my blogging the past couple of weeks. My Father has been very sick so I’ve been away from work quite a bit to be with him. The good news is that it looks like he’ll be released from the hospital in time for Christmas! Go, Dad, go!!!

OK…onto the topic of this post…a question I get a lot is,”How do I publish a book (or develop products)??”. There are many ways to do this, and here’s one solution that’s worth looking into.

And, no, they don’t know that I’m writing a blog post about them! So I’m not receiving anything from them for posting this.

The service is called FastPencil.com. They are ideal for self-publishers of ANY type of book. BUT, if you don’t want to write a book, they also create products like: ebooks, small how-to guides, picture books, etc. And they can be developed in printed and electronic formats. Plus, they offer a turnkey solution where they’ll upload to all the major online retailers for you, AND provide distribution services (meaning they’ll print and ship the orders for you).

Another cool thing is that they provide templates, so you can design and layout your own book, guide, booklet, ebook, etc. This can save you money on having to hire a graphic designer. AND, they even offer book writing software to make the process easier for you!

I also noticed on their website that they offer a service called “Premiere”, which appears to be a publishing imprint service for established authors. That’s worth looking into more for publishing your future books.

Here’s a brief blurb from the About Us page on their website:

FastPencil is book publishing without the pain. The traditional book publishing process can take many months of effort and more money than most writers anticipate. It’s no wonder authors get discouraged.

You shouldn’t have to ask anyone’s permission to write and publish your own book! We have removed the hurdles inherent in traditional book publishing by combining amazing advances in print on demand technology with a sophisticated online workflow system.

While powerful technology makes it possible for anyone to publish a high-quality book, our collaboration capabilities make FastPencil the easiest, fastest, and most exciting way to write and publish. Regardless of the type of book they’re writing, most writers need feedback as they create. When authors have ready access to friends and collaborators, the writing and editing process is faster and easier.

At any point in the writing process you can connect with like-minded people, share knowledge, chat, gather feedback from reviewers and editors, and collaborate with other authors, all without leaving FastPencil.

OKAY! Take a look at their website for more info…I’m interested in using them for e-books and short guide development, so I’ll be learning more about them soon, too!

Cheers & Happy Marketing!

Lisa

P.S. If you have used their service, please post a comment about your experience!

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5 Ways to Use Video to Build Your Brand and Create Products

September 30th, 2010

Hi All!

I just posted my newest video on my YouTube Channel. In this video I share 5 quick tips on how you can use video, easily, to build awareness for your brand, blog, products, website, etc. I also share a great tip on how you can quickly and inexpensively create video products that you can sell on your blog or website to generate income online.

And, in this vid, I also mention Kristi Hines (follow her on Twitter @Kikolani), social media expert an blogger, because some of the tips I share are from a blog post of hers. In that post she focused on “5 Types of Videos for Bloggers“, but I expanded on those with additional info to help you.

Whether you’re a small business owner, solopreneur, speaker or author, you’ll find the tips helpful. And you’ll quickly see that creating promotional videos, how to videos, tutorials, or video products is VERY easily (you don’t need to be a video producer to create them!)…and they can be done (nicely) for free!

Ok! I’ll keep this blog post short because the info you really need can be found in the video!

CLICK HERE TO VIEW THE VIDEO!

Cheers & Happy Marketing!

Lisa

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