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In this issue:
Marketing Article: The Long And Short Of It Is That These Two Sales Techniques Are The Same
Marketing Article: The 12 Most Important Lessons In Retailing

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With the Internet beginning to stand up and be counted as an online business medium, many are beginning to realize that selling online is not only possible, but very profitable. People are seeking ways to improve their sales technique online and close on more of their website visitors. It was bound to happen. The problem now is that there are thousands of different companies telling you that their way is the best way and that you should follow their advice. I don’t subscribe to all the thousands of new and fangled ideas to sell anything. This article describes two methods described by many as ‘new’ online sales techniques, which many people call the long copy versus the short copy debate. It’s actually simply a mix of the ways we’ve all been selling stuff since print was invented.

The long copy versus short copy debate

There is the camp on the hill that say “long content is better”. They really don’t understand what they’re talking about in my opinion. What they’re doing is looking at other people’s (often good) results and making assumptions about the technique. It’s never about length of copy, it’s always about whether you have communicated your offer to your audience effectively and answered their wants and needs. That’s all. If you can do that in one line then why write a saga about it?
There are some equally ridiculous theories about short copy and using embedded links within page content to get people to move through your website and be subjected to more short pages. People mistakenly assume that if I have to scroll down a page that it’s bad from a usability perspective. Let me ask those people, when was the last time you went to a website page you were really interested in and stopped reading because you had to use the scroll bar? It simply doesn’t happen. I know we’ve measured it.

So who’s right?
To quote a line from Winston Churchill, “However beautiful the strategy, you should occasionally look at the results”. The following six tactics are used by successful marketers whom advocate writing long copy, embedded linking or a mixture of both. The main objective of these tactics is to get you to point 5 with a plan of action to begin writing your content so you can then do what Winston suggests, measure the results.

1) No-one sells your product or service better than you do.
The fact is you do. The first lesson of selling online is to always listen to why the guy selling the product or service is in business in the first place. I have worked for people who sell embedded hardware the size of a matchbox that works with a GPRS router (of course you know what that is don’t you?), to people who sell nebulizers (an easier one) and I knew nothing about either of those products when I started. By the time I had finished it was a different matter, because they taught me everything I needed to know. As a direct marketer it’s what you need to do with each product or service, learn about the target market, the product or services features and benefits. Then you need to learn how best to communicate those benefits to the target market.

2) Target your market.
By doing this you find out how best to write for your audience. The best way I can describe this is with an example. One recent client of mine sold niche clothing for women in New York. She knew her target market was women, young fashionable women in fact. Is that going deep enough? I told her it might not be. I said that a girl in her late teens might be affected by the description of a fashionable dress in a different way to a woman in her later 20’s. So who really is the target of that dress? Who buys it? Is it the young lady persuaded by “suave chic and sophisticated for a night out on Madison Avenue” or is it the young lady persuaded by “Cool, hip and sexy, a fashion statement that screams NYC”. Work out who the people are within your target group and write your copy and content for them. Rarely does a product or service have only one specific reason to be bought by one specific type of person.

3) Define your product or service features and benefits.
A feature is tangible. It’s evidence, it’s true and not disputed by anyone. It’s the steel case on the embedded hardware, it’s the weight and size of the nebulizer, it’s the acrylic material in the dress. Features of products or services are not what you sell to the customer, you might list them, but you don’t sell them. It’s hard to sell acrylic to a young lady but you might list it so she knows she won’t be allergic to the material (or knows that she is allergic). Benefits on the other hand are what you do sell. The weight of the nebulizer (12 oz) means the product fits into your brief case, purse, diaper bag or back pack. Notice how you’d communicate with 4 audiences there, the brief case for the business man, the purse for the housewife, a diaper bag for the mother and the back pack for the outdoor traveler. Again this targets people within a target group. Asthma affects all kinds of people, so while asthma sufferers are the target market, you’re communicating the benefits to as many different people within that market as you can.

4) Define potential psychological barriers and tactics.
Your people profiles at this point will require that you overcome different objections. Some will want to know how the service or product works and you need to answer their questions. Some will want to know why they should buy from you and not your competition so you need to show your differentiation. Some will need to know whom else you’ve worked with because they don’t want to be the “guinea pig”. Others will want to see more of what you do and see some 3rd part evidence maybe. You’ll need to offer guarantees, re-assure people about what happens when things go wrong. There are all sorts of psychological barriers to a sale that need to be thought about and catered for within the content. You can also use psychological tactics to help you, like instilling urgency in the buyer, or offering bonuses and incentives to persuade your visitor to take action.

5) Only now do you begin to write.
Once you have completed steps 1, 2, 3 and 4 you have the base material you need to write compelling content. How you break it down depends on what method you think will work best and like all good direct marketers you should measure to see which has the best outcome. If it’s a simple book sale then you might test a single sales page with a single call to action. If it’s a difficult to describe service with lots of reasons to back out or there is a whole plethora of products then embedded linking is not only necessary it’s very useful because you know what variables you can test.

6) Measure the results.
When you’re talking about websites you can measure everything. Copy and content changes can be measured on a page very accurately. You shouldn’t just look at improvements in conversion (for a sales page for instance) but also improvements in the bounce rate, the click through to the page (if embedded links from other pages are used), as well as time spent on the page. The reason is that these (in this very simple example) three key performance indicators (KPI’s) will affect that conversion rate. The lower the bounce rate, the better the initial reaction to the page and audience relevance. The better the click through to the page means more exposure to the offer. More time spent on the page means more chance that the offer will be accepted. Improving those KPI’s will increase conversion overall, it’s why they are called ‘Key’ because they affect your bottom line.

In Summary
The point of this article is to illustrate that these so called “two techniques” when done correctly are simply the same thing presented in a different way. The direct marketer who writes a single (often long) page usually addresses all these points and a lot more that is out of the scope of this article. Similarly the guys that swear by embedded linking and doing it well also address all of the above in their content. They are both doing the old as print marketing technique known as direct marketing, except that they’re using it in different ways.

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Author: Steve Jackson, Editor - Conversion Chronicles
Steve Jackson is CEO of Aboavista, editor of The Conversion Chronicles and a published writer. You can get a free copy of his e-book sent to you upon subscription to the Chronicles web site (www.conversionchronicles.com)

Most retailers can be divided into two categories: those who resist change and those who welcome change. Top-selling retailers are in the second category. They not only welcome change, but they also are ready for change and respond to change.

If you apply the following "12 Details Of Operating Your Retail Business" you'll simplify your efforts, multiply profits, and increase the odds of success. They are based on years of research and the actual experience of dealing with hundreds of small to medium-sized retailers in every region of the country who have achieved an unprecedented high level of success.

1. Know Yourself
Know your interests, skills, abilities, and limitations. Having your own business is more than just creating a job for yourself. To be a successful retailer, there are many personal sacrifices and you have to be willing to make them. Your basic roles are in marketing, finance, administration, and the responsibility of personnel. To get the best results, it is rare for one person to play all these roles equally well. You must know which parts you can handle yourself and which parts you're going to need help with. That's why it's so important to be objective and take a close look at your overall strengths and weaknesses. Ask yourself the following questions:

• Do you know the skills critical to your success?
• Are you adaptable to changing conditions?
• Can you take advice from others?
• Do you always obtain the necessary information to run your business?

2. Plan Ahead
Many stores are run by well-intended people who are not informed about their own operation. As a specialty store owner, if you don't know the ins and outs of running your business, you'll soon be out of business. According to leading authorities, the main reason 80% of all new businesses fail within the first five years is not money, but the lack of the right information and knowledge. If you want to succeed, the trick is to know how to make right the decisions by implementing an effective business plan. Remember, if you fail to plan, and you might as well plan to fail.

3. Know The Industry
You can gain the greatest competitive edge if you understand the intimate knowledge of doing business. The critical difference is to be able track those obstacles that challenge your future survival: The Competition - Your competitors size, services, location, marketing approach, type of customers, suppliers, and pricing strategies. The Market Environment - Your local business climate, vacancy rate of commercial space, median household income, level of education, age groups, ethnic population, and the demographics of your potential customers. To thrive and prosper, you must be committed to learn, be clear about your objectives, and have the desire and energy to accomplish your goals.

• Does your area have a population base large enough to support you and the competitors?
• Should you appeal to a wider range of customers rather than a small segment of the market?
• Have you seen changes taking place that have affected where customers are shopping?

4. Understand Your Customer
Are you listing to your customers? Make it your business to give your customers what they want, and they will do business and buy from you. They are the reason you are in business, and your future depends on them. The products and services you provide should be in direct reflection to their needs. Think in your customers' terms; buy, show, sell, and say things that interest them, not just what interests you. Don't forget, it is the customer that determines whether or not you succeed.

• Do you know the reasons why customers shop at your store? (service, convenience, price).
• Do you seek suggestions from your best customers on ways you can boost business?
• Do you use a store questionnaire to aid you in determining your customers' needs?
• Do you ever try to re-establish lost or inactive customers?

5. Keep Good Financial Records
If you don't know where your money is going, it will soon be gone. The "game of business" is played with computers -- and the score is evaluated in dollars and cents. Good financial records are like the instruments on an airplane, they keep you posted of your height, direction, and speed. Without them you're flying blind with no controls to guide you to your destination. If you know how much you're spending, buying and selling, you can take control and make your business more money.

• Have you computerized your business to streamline everyday tasks and business procedures?
• Do you use sales forecasts, expense sheets, and financial statements on regular basis?
• Do you evaluate your operating expenses on a regular basis?

6. Manage Your Cash
It doesn't matter how unique your store is, your business can't survive without cash flow. Cash is the lifeblood of your business. The money coming into or out of your store is the vital component that keeps your business financially healthy. A monthly Cash Flow Statement shows the amount of money at the start of a period and then shows how much cash was received from various sources and the reasons it was paid out. If you budget wisely and know the interval of your monthly income and expenses, you won't have to worry about running out of money.

• Watch your monthly overhead and operating expenses ratios
• Make a budget and follow an open-to-buy plan to eliminate overbuying
• Buy closer to the selling season to minimize the risk of making a bad buy
• Don't accept deliveries you can't use or arrive after the completion date

7. Use Sound Management Practices
As store owner, you are also a manager. This means knowing how to run your business from the top to the bottom. You have to make decisions, offer customer service, manage time and resources, and know how to merchandise and run the business better than anyone working for you. Value your employees, they're your most valuable asset. Train your employees and provide them with the confidence and skills to do their jobs better. Give your employees the opportunity for growth, treat them fairly, pay them what they're worth, and they will help make your business successful.

• Do you train your employees to service and work with customers in a professional manner?
• Do you have a program to reward your employees for their extra efforts and innovative ideas?
• Do you empower employees to make important decisions, even if it means losing money?

8. Develop A Distinctive Image
Your image is important and links all the areas of your business together. It is the reality of your customers' perception of your store name, location, appearance, building, landscaping, entrance, floors, doors, counters, dressing rooms, rest rooms, products, prices, visual merchandising, signs, window displays, business cards, invoices, newsletters, advertising material, customer service, and anything else that relates to your business. Right or wrong, your image can be a "make it or break it" situation.

• Is your business unique and does your merchandise fit into a niche that competitors don't have?
• Do you use newsletters to remind customers of the products or services you provide?
• Do you implement proven concepts and formulas of other successful retail firms?
• Do you grade your store's location every year in regards to appearance and accessibility?

9. Control Your Inventory
The function of your inventory is to generate sales. All retail stores need to manage inventory. It is your money sitting on a shelf and represents a large portion of your business investment.

The small retailer who merely watches the store's shelves can't maintain a proper balance between the right amount of merchandise and probable customer demand. That retailer's buying and selling will suffer through lack of information concerning color, size, trends, and customer preferences.

Without adequate control, slow-moving inventory becomes dated, shopworn, damaged, and very costly. Do you evaluate the amount of inventory you carry, and fine tune your operating expense ratios on a regular basis? Generally, inventory controls can be summarized as follows:

• Matching the stock on hand with customers needs
• Controlling the investment in inventory
• Minimizing markdowns
• Controlling shortages
• Improving purchasing procedures

10. Buy and Price For Profit
To fully understand the nature of retailing, one must start with the concept that the original price of your merchandise is nothing more than a temporary estimate of what the customer is willing to spend. Most stores use a "keystone" markup that applies to their product or service. What they lack is a pricing strategy based on an item-by-item calculation for regular, promotional, and off-price merchandise...

To boost sales, retailers must focus on items, price, and efficiency and by countering with lots of store celebrations, glamour and fun. To become more competitive, attend trade shows, join buying groups, and seek out manufacturer discounts that allow you to purchase merchandise at below wholesale prices.

By offering the new price-conscious consumer better values, you'll be able to: attract more customers, improve your average sales transaction and offer customers more opportunities to visits your store.

• Do you test different aspects for promoting business: -- new offers -- new items -- new prices?
• Do you identify different vendor performance, mark-up, and turnover?
• Do you use a system for tracking those products that are your best-sellers?
• Have you tried to increase sales by offering better prices, more value, or add-ons?

11. Learn From The Pros
It takes experience to master the skills of running a business. First, you must learn How, Who, What, Where, When, How Much, and How Often to market and advertise to profitably promote your business. Second, how to quickly manage and adjust to the ups and downs of the seasonal profit cycles of your business which include: inventory, overbuying, markdowns, turnover, timing, deliveries, expenses, and projected sales.

It's your money, so with expert planning and follow-through, you will be able to insure bigger sales and higher profits. A smart approach that maximizes your overall business and financial performance, while minimizing time, effort, and risk.

12. Ask For Help When You Need It
Remember, getting results is what counts! With outside advice and assistance, your quest for a major process of improvement can get a major jump start. Don't be too proud to ask for help, we all need help sometimes.

Qualified sources are available from your local government offices and other professional services. It is important to recognize -- what you don't know can end up costing you money, hurt the odds of success, and greatly reduce the chance of achieving your business goals. And, most importantly, you'll have all the tools you need and a wonderful piece of mind.

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POWER Retailing, a retail-consulting firm based in Phoenix, Arizona. The company works with small to medium-sized retailers to develop marketing strategies and promotional plans to quickly strengthen their cash flow and financial position. POWER Retailing, Inc. 1859 E. South Fork Drive, Phoenix, AZ 85048 (602) 460-1965. The Internet address is: http://www.retailing.com