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It has confounded me with a deeply researched value proposition that we are finding it difficult to impact our target audience with our offering. We did a remarkable amount of research prior to...
6.55K views
Keith Rowley, Joint Owner and Customer Strategist at Sydney Business Web
there arwe several well understood isses and solutions to 'free products'. These come to mind imemdiately:
:
Problems with Free Product OffersPerceived Value Decrease: Customers might perceive a product as lower quality because it's free. The value of a product can be psychologically tied to its cost.
Expectation of a Catch: Consumers may be skeptical of free offers, suspecting hidden fees or future obligations, which can deter engagement.
Overuse and Abuse: Free offers can lead to overuse or misuse by customers, putting a strain on resources without corresponding returns.
Brand Devaluation: Continuously offering products for free can harm the brand's image, making it difficult to charge premium prices later.
Low Conversion to Paid Products: Free users may not convert to paying customers if they're satisfied with the free offering or if the transition to paid products is not managed well.
Limited Time Offers: Create a sense of urgency and exclusivity by offering the product for free for a limited time. This method can maintain the product's perceived value while still attracting interest.
Freemium Model: Instead of giving the product away for free, offer a basic version with the option to upgrade to a more feature-rich premium version. This strategy can alleviate skepticism and pave a clear path for conversion.
Qualification Criteria: Implement criteria for who can access the free offer, such as new customers only. This approach helps manage overuse and ensures that the free product reaches the intended audience.
Branding and Positioning: Clearly communicate the value and quality of the product, emphasizing that the free offer is a special opportunity rather than a reflection of the product's worth.
Seamless Upgrade Paths: Design a user experience that naturally encourages free users to transition to paid versions by highlighting the benefits and additional features of the premium product.
By addressing these problems strategically, businesses can leverage free product offers to attract customers and lead them towards valuable actions without diminishing the product's value or brand reputation.
I have a cafe in an industrial area and I get my regulars but want to get more feet in the door. Are there any ideas on how to get more customers in my cafe?
3.04K views
Yee Trinh, Cofounder at SavvySME
In order to expand your customer-base you need to give people a reason why they would want to potentially go out of their way to get to you instead of going to a cafe closer to home. As the others have mentioned, it’s difficult to give suggestions without knowing what you’ve already tried, but here are some ideas that will (hopefully) help you get more foot traffic in your cafe:
Corporate and event catering - catering not only opens up another way of doing business, but it can expose your cafe to a wider audience who may bear you in mind for future catering events
Do weekly specials - doing a delicious weekly gets people excited and offers value-for-money
Host events - run comedy nights, open-mic, film nights, cork n’ canvas, etc
Try to nail one thing on your menu - we all have that one favourite dish that we would travel far and wide to get! Pick and master a household or local/national favourite that will get people talking
Loyalty cards - loyalty cards are a great way to keep people coming back
Consider a suburb special coupon - give people in the nearby suburbs an exclusive discount
Good luck :)
Prices can vary significantly in professional services. How did you price your services and how do you know you're priced correctly?
787 views
Michael Simonetti, Founder and Director at AndMine
Something i've been answering for over 20 years. When we first started, I never knew what to charge, it is a guessing game, trial and error to work out where your services sit, vs the market-place as a guide. It should constantly evolve. Start higher leaves room for negotiation, and always ask the obvious question - what is the budget... but be tactful about this - you may be able to ask it straight out, but you may need to build the conversation into this point and find a good reason to ask it; I normally give a range in that case, (as service is dependant on the amount of hours we put in), and talk to that as a ballpark. Then justify it. You can throw a BIG silly number out there too always helps break the ice - it won't cost a million $... plenty of sales techniques i've tried throughout the years like this; they can all work, they can all fail. The main point is feel out the conversation with the potential client, a good conversation and alignement will help justify your service offering as it is rarely apples vs apples they are buying
The product is a semi-medical item that fits both sports and pharma. What is the accepted process for getting it into national retail chains?
2.6K views
Steve Osborne, director at Stephen Roger Osborne
Can anyone tell me whether line fees are required for the bigger retail chains, in the same way as the supermarkets?
We are throwing around ideas of engaging an independent sales professional to support a new project. Has anyone had any exposure to this or has an awesome referral?
1.13K views
Greg Rogers, Founder and CEO at Rethink HQ
Hi Steve,
Great question with no single right answer.
Some will suggest that it is impossible to have an 'outsider' come in and perform sales in a similar fashion to what an external OHS consultant or Business Coach might do.
Others will argue the other way.
There are organisations and individuals who offer the type of solution you have posed in your question and that others have expanded on.
I would be more than happy to have a conversation with you around some strategies that might be of interest to you, at the very least give you a couple of more options.
Cheers
Greg
Does anyone have any tips on how to attarct more parents to a daycare centre and increase enrolments?
620 views
Hatty Bell, Executive Assistant at Country Road Group
Would love to hear your thoughts @Peter Khalil @Peter Khalil
I am planning a webinar soon and I am researching the perceived problem of business owners in the area of sales. What is your number one tip for increasing sales?
1.53K views
Greg Rogers, Founder and CEO at Rethink HQ
Hi Selena,
One thing? Cos there are many, many things.
But just one?
Define it.
Define it and you will be able to identify the ONE THING that will work best.
"Increase your sales" is equivalent to using a map but without knowing what the destination is.
If you can't define it, how will you know when you get there? If you don't know that, how could you know what to do?
It's akin to throwing darts blindfolded, you might hit the target occasionally but you have no idea!
Define it might be something like - we want to increase our new customer sales by 15% in 6 weeks.
You now have the end result and what success looks like, plus you have a baseline on which you can measure.
Now you can plan what the best strategy/action/execution is to take to get that result. The one thing.
You then prepare whatever resources, tools, training, skills are required to action/execute.
Then you participate, actually put the planing and preparation into play, this is the doing.
You check your progress, are we on track, is any adjustment required, what's working - what's not.
And this will increase the probability of reaching that 'defined' target, the payoff.
That's my 5Ps framework in action right there. As Covey said, start with the end in mind.
If 'increasing sales' is 15% more new customer sales in 6 weeks, then the ONE thing that sits behind that is going to be completely different to 'increasing sales' meaning 15% more existing customer sales in 6 weeks.
If you can define it; you can observe if it is happening or not; if you can define it and observe it, you can measure it; if you can define it, observe it and measure it, the feedback becomes objective rather than subjective.
Hope that helps and makes sense.
To your business growth.
Greg
Hatty Bell, Executive Assistant at Country Road Group
Would love to hear your thoughts on this @Philip Brookes , @Anna Osherov , @Tony Eades , @James Parnwell , @Greg Vekar
How do you empower your sales team to do more than simply meet targets?
1.14K views
Benjamin Lai, Director at Sales Ethos
Thanks for the tag Eloah!
Wow, broad question! There are so many factors that come into play:
Culture & Management
- Have a clear vision and inspire purpose
- Hire the right people
- Set the right cultural tone; lead by example
Process
- Have an established system
- Coach & train them in the process, while allowing for flexibility
- Minimise administrative burden
- Set the right KPIs (Key Performance Indicators) and rewards
Each of these points could be a book or blog in itself!
Yee Trinh , Cofounder at SavvySME
Thanks for the response @Benjamin Lai !
Agree with all those points. Sales teams in a nutshell.
High churn rate in sales team members is not uncommon, if not expected. I think both you and @Shannon Young hit the nail on the head. Clear vision and purpose is so important to the retention and success of quality sales people. Monetary rewards alone are not enough. There will always be another company offering higher earning potential.
Benjamin Lai , Director at Sales Ethos
I once heard from a senior sales manager for IBM that to retain staff, you need to fulfil at least two of three criteria: Money, Work, and Colleagues.
A person might tolerate negative colleagues if they are earning a lot and enjoy their work. Or, they may accept a paycut for a positive work environment. Violate more than one of these and a person will surely leave!
If I did it mainly online, how much would I expect to pay (roughly)?
4.46K views
Cliona Elliott, SEO Copywriter at Intrepid Travel
Hi Federica!
The cost to run online sales promotions varies depending on a range of factors including:
The platform/channel - e.g. Facebook, Instagram, LinkedIn, AdWords, etc
Pricing options - on the Google display network you can choose cost-per-click (CPC), cost-per-thousand-impressions (CPC) and cost-per-acquisition (CPA)
The industry of the advertiser - keywords in some industries are more expensive than others
While there are many variables, below is a breakdown of the ballpark figures you can expect to pay for various online channels:
PPC: approximately $1-2 per click
Facebook: approximately $1 per click
Instagram: approximately $0.50 - $1 per click
A basic paid ad campaign could cost as little as $300 per month or reach into the thousands...
One of the most popular budgeting strategies for a sales promotion is by allocating a percentage of your sales revenue as it gives you more control and the budget will increase or decrease with the amount of sales you generate. A typical allocation percentage of sales revenue is around 5%.
Where most potential clients and customers are budget minded, how do you avoid the discount spiral?
837 views
Orna Binder, Orna Binder Wedding Celebrant at Orna Binder Wedding Celebrant
The only way to avoid discounting spiral is by not going that rabbit hole.
Don't even start, as there will be NO end to that, and these customers just shout TROUBLE!
I would never agree to that, as it is disrespectful to the work I do, the caring, time, effort I put into my work.
Founder at Copywriting-Results
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Founder at OMGhee
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Director at Sales Ethos
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