Keys Bloomington

When people purchase information products, it is not because they couldn’t get the information somewhere else for free; in fact, they most likely can. With Google as our guide, the internet is full of billions of websites that offer information at no cost. The problem with this, however, is the number of websites that must be searched through and advertisements dodged in order to find good, solid information.

I have been helping clients,’ (lets refer to them as “experts” in their field)  design and market information products for over 10 years. For the most part, they are confused and unsure of how to build a successful, marketable product. Along the way, I guide them through the process and help them avoid making mistakes however, depending on where they are in the process here are the most common mistakes I see:

1) “Experts” worry too much about incomplete content.

If you refuse to start building the product look and components before every  “i” is dotted and “t” is crossed, you’ll never get your product to the marketplace. As an expert, you may be constantly tweaking and updating your system or information. Remember “Good is good enough”, Bill Glazer of GKIC will tell you.

The content is indeed the most important thing because that is what is being purchased, but there are also other parts of the project that need to be addressed. As you develop more and more product content, you can continue to add-on to your product and provide it to your clients in the form of updates or continuity. In the beginning, put together as many of your most valuable points so that you are providing the best information to the customer. As time goes on, you can add to it. Remember customer is getting value.

2) Experts don’t put enough energy into marketing because they are too wrapped up in the product.

If a potential customer doesn’t know your information product exists, how can they possibly buy it? Your product may have great information enclosed, but no one will know that if you don’t diligently market it. Your marketing plan need to include a compelling sales letter, a webpage and blog. In addition, you can try marketing techniques from article marketing to internet marketing – just make sure you’re marketing the product!

Tony Robbins, who sells information products related to personal growth development, is a great example of how to build a strong marketing campaign. His website is clean, respectable, and well made. The overall impression presented is of trustworthiness in he way he displays himself and his products.

3) Experts worry too much about the inside and try to perfect the appearance.

Buyers of information are more interested in the content contained inside the product than the appearance – they aren’t paying for pretty graphics or syntax. You could be spending this time increasing awareness about the existence of your product or adding even more useful information. Certainly, make sure the product is readable and organized nicely, but it is not necessary to struggle over the font or other visual elements.

An important note about the appearance of the product is that you must match the cover image or logo with the title name. If the image you use to represent your product and the title of the product don’t match, there will be a huge disconnect and your product will immediately lose validity (and sales).

If you take a look at Paul Meyers’ products including 24 Keys That Bring Complete Success and A Fortune to Share, you’ll notice that both attached images are simple but also reflect what is inside. 24 Keys That Bring Complete Success’s cover has a person holding a key with a label attached that says “Complete Success”. The cover is clever yet easy too look at.

4) No additional marketing and sales information is included within the information product.

If the customer gained a lot of useful knowledge, likes the style of your information product, or wants to know more, make it easy for them. Include a pamphlet or some sort of marketing/sales information for your other information products inside all of the packages. You might miss out on a quality sale if you don’t let the customer know that you have other guidance to offer them.

Say you have as many products as Bill Glazer and Dan Kennedy – if you didn’t include additional marketing information, you could be missing out on a few thousand dollars in sales just through that one buyer!

5) No free sample/free report (with real & true information!) is offered for potential buyers.

Most people don’t like to buy products blind; they like to know what they are purchasing. On your sales letter or other marketing materials, be sure you offer a free sample of your information product. For example, you could always give chapter one away free or offer a free report. If the customer likes chapter one, they will be much more willing to come back and purchase the rest of your information. Think about it – if you hadn’t given away the free sample, they probably wouldn’t have purchased it anyway so you’re not losing a sale.

No matter what kind of freebie you decide to offer interested customers, make sure it is reflective of what they will get when they purchase the product. For example, on Zig Ziglar’s website, he offers free MP3’s and other downloads of books he has written as a free preview of his work. He also writes a newsletter with free information that he then sends out to people who sign up.

I’ve mentioned many famous and highly successful information marketers. They’ve made their money this way for a reason; most likely because they’re good at what they do and have information marketing down to a science. To make your knowledge profitable, all you have to do is follow their recipes for success and you’ll certainly, with time, reach their level of notoriety as well.

Many cars today tell the driver when it is time to perform maintenance. Even better, some tell the driver that maintenance is needed in 1,000 miles with updates along the way. It would be great if as a business executive or small business owner, you had this kind of technology at your fingertips. Unfortunately, managing a sales organization will always be a manual effort. Sure, CRMs and contact managers help, but there is no technology that replaces the leadership associated with sales management. Not sure where to dig into your sales organization? Here are twelve areas that will show just how game ready you are.

1. Business Objective. In your capacity, I’ll bet you can cite the objectives of the business easy as pie, but do the key members of the sales team know them? Better yet, do they know the current one(s)? Business objectives change. It is important that those affected by the change are in the know. The business objectives serve as the foundation of the company’s sales architecture which is the overall selling system framework. If the foundation changes without reviewing the selling framework, there is a high risk of not achieving the objective. It is the equivalent of constructing a building with the wrong materials, or worse, in the wrong place.

2. Differentiation. Some argue that differentiation is the job of the marketing team. I see this as a shared responsibility between sales and marketing. The bottom line is whether or not your company is successful winning business at your desired prices. George Carlin has a great line on this. “If you nail together two things that have never been nailed together before, someone will buy it!” The target for differentiation is always moving. What is unique today is passe tomorrow. However, sales people can differentiate themselves above and beyond the product by being a valued resource to their clients. This is critical in a competitive or commodity marketplace. One of my favorite questions to ask sales people is why someone should buy from them. The goal is to see what value they see that they bring to their clientele.

3. Ideal Client Profile. Hopefully, you already have one of these. This is the document that clearly defines the attributes of your ideal client. Think in terms of size, buying circumstance, budget, buying habits, etc. This is a profile which each member of the sales team should memorize and be held accountable for knowing. Their pursuit of new business should be aligned with this profile. As the objectives of the business change, this profile may change. Be sure that it still meets the needs of the business.

4. Messaging Consistency. You spend time and money investing in a new campaign. Your sales people position the company using this new message, but the print material and website still convey the old information. Not good! The outbound message to the market must be consistent. If the sales people say it, the corporate presentation should reinforce it. The printed collateral material and website should help position the message. In essence, the entire approach should be aligned.

5. Intellectual Capital. What is that, you say? These are your referenceable clients. Other than your employees, they are your most valuable asset. This asset is critical for your sales team to help them win business. How are you growing your portfolio of referenceable clients? How are you ensuring that your largest client is not over-utilized by the sales team for these purposes? Do you have clients who can speak to everything your firm does, coming from multiple buying circumstances (newbie, veteran, etc)? The use of references can serve as a key competitive advantage for your sales team. It is important that the portfolio be ever-growing and well-managed.

6. Sales Performance. How are the members of the team performing relative to their assigned goal? While you may be tempted to measure only revenue performance relative to quota, this is not always the best approach for longer-term buying processes. In those circumstances, review of performance in the buying process itself is an important area for study. That said, the rule of thumb is to look to upgrade the bottom 20% of the sales team. Recruiting is an ongoing initiative of any healthy sales organization.

7. Pipeline Analysis. There are various opinions on how large a sales pipeline should be to ensure it yields enough to meet the business objective. The challenge is that a strict quantitative value minimizes the importance of a qualitative one. I’ve seen sales people with a pipeline of twice their goal finish the year at 150% of quota. I’ve also seen sales people with a pipeline of five times their annual goal miss the target. Quantitative studies aside, the best approach is to conduct formal, periodic pipeline reviews so that you and your executive team can dig into the pipeline to see what prospects are real. Quality supersedes quantity. Pipeline reviews are very helpful for executive teams with respect to learning of market trends and competitive intelligence.

8. Ideal Sales Person Profile. Hopefully, you have one of these too. This tool defines the attributes of the ideal sales person for your firm. You need this if you are going to upgrade the bottom 20% of your sales team. This profile changes, however, as the business changes and matures. Think in terms of the Blackberry. About seven years ago, their sales people had to create demand in a minimally competitive market. Today, the Blackberry is a staple in business, but buyers have product choices outside of the Blackberry brand. The skill set required to be successful in their business initially is very different than today. Don’t have a profile? See my article titled “The Sales Marriage” to learn how to formulate your ideal sales person profile.

9. Revenue Accelerator Program (RAP). Again, you are probably asking yourself what this term means. I could have just written “new hire training.” That doesn’t convey the importance of getting sales people to a productive level as quickly as possible. Every time a sales person is hired in your company, there is a cost to the business. Thus, the development of a program that is focused on reducing the time for a sales person to generate revenue is critical. To effectively formulate your RAP, ask yourself what the sales person needs to know to effectively sell your product and when do they need to know this information. Some err by using the fire hose approach. “Teach them everything in their first week and tell them to go sell!” The fundamental question is, how quickly is there a return on the investment for this hire?

10. Skill Development. Many think that sales talent is born; not developed. Oh, if that were only the case. Companies need to invest in their sales team development just as professional sports teams practice their craft every single day. Sales is a profession, one of the few professions in which ongoing training is not required to continue to perform in the role. However, it is critical to success. One of the biggest disconnects between executives and sales people is when the sales team is criticized for not “selling the value.” When the executives are asked when and how they trained the sales team on demonstrating this value, a blank look appears on their faces. Sales people will perform based on how they are trained and how they are compensated.

11. Compensation. Does your compensation plan drive the sales behaviors you feel assist in meeting the business objective? It all comes back to the business objective. The blessing and curse of sales people is that they use their compensation plan as a job description. If you pay them for doing one thing, but expect another, you will be disappointed. This is also a very sensitive area. The plan must change as the business objective changes. However, if the plan changes too frequently, the sales team will grow distrustful and look to leave. Approach this with true circumspection.

12. Metrics. The beauty of sales is that just about everyth
ing can be measured. Some like sales for that very reason. It is incumbent on the executive team to create metrics with desired goals such that every aspect of the company’s sales architecture can be measured and analyzed. This is a great way to use your CRM. They are designed to track what needs to be measured. I suggest analyzing performance of team members, product lines, and the sales organization in total. Who sells the most of what product? Who sells the highest margin deals? What product is not selling as expected? Which sales person has the shortest buying cycle? Which sales person has the longest buying cycle?

Review of these twelve areas will ensure that your sales organization is finely tuned and ready to conquer the selling world.

Online forums provide a great platform to share and discuss our thoughts and ideas. These are also a great way to promote a website or product. As a result, there has been a great rise in the number of these. Following are seven keys to advance in forums -

 

1. The most important thing is to register in one of the famous forums. Make sure that the forum provides you with a valid platform.

 

2. Next step is to look for the relevant threads in these forums which suit your cause. If you don’t find any good threads then you can create a new one and wait for the people to respond.

 

3. The third step involves discussing ideas in the forum. If you are not completely familiar with a particular topic then you can take the help of a professional in that field. This is a much better idea then searching for information in the search engine results.

 

4. Then, you should start using the forum to promote your online business or website. You can put the links of your website in the forum. This will increase the traffic on your website as the reader will follow the link if the information on the forum is also good.

 

5. You should be as active in the forum as you can. Write many post, but all of them should have good information. Otherwise, your popularity will decrease in the forum.

 

6. You can also use the forum to discuss about your product, services or website. You can ask people to give you their honest feedback that you can use to improve your product, services or website. 

 

7. the last step is maintain your reputation in the forum. Don’t be rude to people as your relationship on forums is as much important as any other real relationship.