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In this issue:
Marketing Article: 4 Marketing Myths Threaten Your Sales
Marketing Article: Capture More Clients: 4 Secrets to Staying Ahead

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These 4 marketing myths can cause you to lose sales if you base your marketing decisions on them. But the related marketing tips I included with each myth will boost your sales if you act on them instead.

Myth 1: People Always Buy Where They Get the Cheapest Price

If this was true, only businesses that charge cheap prices would exist. Some people buy where they get the cheapest price. But most people are more interested in getting value for their money than in getting a bargain.

Tip: Look for some low-cost ways you can enhance the perceived value of your product or service. Then test raising your price. Don't be surprised if both your sales and your profit margin go up.

Myth 2: Offering Your Customers Many Options Will Boost Your Sales

Presenting your customers with options usually reduces your sales. Here's why...

When confronted with several options, most customers have difficulty making a clear decision. They often react by procrastinating - and never making a decision. When this happens, you lose a sale you already had.

Tip: Try to limit your customer's decision making to either "Yes. I'll buy." or "No. I won't buy". Don't risk losing them by including "which one" decisions.

Myth 3: Everybody Needs My Product/Service

That's what YOU think. Most of them don't think they need it ...and most aren't ready to spend their money for it.

The hazard of this myth is that it causes many marketers to believe they can succeed without doing much marketing or selling. They think their product or service is so special that it should automatically generate hordes of paying customers. Unfortunately, it doesn't happen that way.

Building a successful business is hard work - most of it devoted to finding customers. Even if most people can use your product or service, you still need a marketing strategy to reach them and a persuasive sales message to close sales.

Tip: Look for narrowly defined niche markets where your product or service solves a unique need of the customers. Focus your marketing on them instead of trying to reach a broadly defined general market. You'll generate more sales and enjoy a better return on your advertising expense.

Myth 4: Keep Changing Your Advertising or Your Sales Will Decline

This sounds logical but it's not true. Never abandon advertising that's working. I know many businesses that have been using the same advertising for years and they're still growing. Here's why...

The goal of most advertising is to attract new customers. Once someone becomes a customer, they won't respond to that advertising again. But you can use different (and cheaper) advertising to generate additional sales from them.

But there's still a large population of non-customers who didn't respond to your regular advertising. Most have not seen it yet ...and those who have usually need to see it numerous times before they will respond.

Don't abandon advertising that's working - but keep trying to improve it. And regularly test new things to see how they work for you. If you never make any changes in your advertising, your sales will eventually decline.

Tip: You can automatically keep your advertising up to date by allocating 80 percent of your budget to proven promotions and 20 percent to testing new things. When something new works better than your proven promotions, move it to the 80 percent group and start testing something else in the 20 percent category.

Don't believe these 4 marketing myths. They're not true. Marketing based on them will cause you to lose sales. Instead, apply the related marketing tips I included after each myth to boost your sales.

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Bob Leduc spent 20 years helping businesses like yours find new customers and increase sales. He just released a New Edition of his manual, How To Build Your Small Business Fast With Simple Postcards ...and launched *BizTips from Bob*, a newsletter to help small businesses grow and prosper. You'll find his low-cost marketing methods at: http://BobLeduc.com or call: 702-658-1707 After 10 AM Pacific Time/Las Vegas, NV

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You've targeted some great new prospects. So now what? Keep this quartet of golden rules in mind to make sure you connect with more customers, and keep them happy in the long run.

You've done your homework, examined your files, and uncovered the ideal target for your business. So now it's time to take your marketing to the next level. Analyze your profitability. Predict the future of your industry. In short, it's time to start thinking the way your best competitors do.

Here's the way to do it.

1. Network with your current customers.
Do everything you can to use the clients you have as a goldmine of leads for new business.
Establish a referral program for your customers and reward them for steering business your way.
Give newly referred customers a break-even rate to try your products or services, then make your profit on the back end.
Run special events and loyalty programs that will get people talking.
Never underestimate the power of small marketing and advertising campaigns.
Inexpensive ads in neighborhood newspapers often bring in a higher return than those in bigger metropolitan newspapers. A simple mailed postcard, when targeted to a small number of well-chosen prospects, can bring in far more business than an expensive brochure or printed piece.

2. Identify your best products and services.
Knowing your best customers–and making them multiply—certainly adds to your success. But identifying your most profitable products and services is just as important. There's an old saying in business: 20 percent of your customers are usually responsible for 80 percent of your profits. It's often true of your business offerings, as well. Figure out which 20 percent of your products add the most to your bottom line, and start marketing them heavily to the top 20 percent of your customers. That's the power of 20/20 foresight!

3. Keep asking the right questions.
As you bring in more customers, it's important to keep complete files. Transaction dates, products and services purchased, and customer contacts are the key to planning great marketing campaigns in the future.

But it's important to stay on top of other information too. For example, why are your customers choosing to do business with you? And what drives them to continue choosing you?

Don't just look at the past when you're considering the best move for your business. Think ahead, too. Keep talking to your existing customers so that you can see how their needs are changing.

Remember, running a successful business involves some specific formulas—but there's also an art to it. By connecting with your customers and tuning in to their needs, you'll be able to anticipate your next best move.

4. Keep abreast of change.
Everything in business, and in life, is always changing. Costs rise, your competition makes an unexpected move, and new products, services and technologies pop up quicker than blossoms in springtime. Make sure you stay educated about your market, your industry, and the changing marketing tools at your disposal. Read everything you can, network with other professionals in your industry, and remember, your best customers can be your best friends in business. Knowledge is power. Use it to your advantage.