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.

Seeing the results of advertising your business can be like watching a roller coaster. The day you run your ad you see a flurry of activity; your ph0ne starts ringing, your web site traffic increases and/ or potential clients visit your store. Your hopes soar. sales go up. Two or three days pass and the response goes down. You look at the bill for the advertising and your jaw drops. Your hopes descend.

Design and Implementation of a new Sales and Marketing campaign must be carefully thought through from the beginning. What message do you want to send about your company, products, and services? What are the anticipated results? What is the execution strategy? What is the cost ratio versus expected return?

I just finished a phone call with a potential client who had called to discuss a problem. His 18 person sales force was paid on straight commission. All had been with the company for 8 - 15 years and were earning healthy incomes. His problem was that he couldn't get them to do what he wanted them to do. Here's the example he shared.

He wanted the salespeople to call on new prospects to expand the company's base. Instead of just seeing established customers, he asked them to call on prospects, and report back to him on the progress they were making.

When attending a Chamber of Commerce breakfast networking
get-together, I'm always perplexed by the lack of thought and
preparation many business owners display when giving a 60-second
overview of their business. These people have spent enormous
amounts of time, money, and energy on their businesses. Yet,
when asked to give a quick synopsis, they fumble for the right
words, they ramble, they go off on a tangent, the information
is disjointed, or the words are boring and seemingly unimportant.

I remember moving my family to Argentina as Vice President of Sales for Latin America. I was in charge of managing five regional offices, Argentina of course being one of them.

In the companys ten year history of selling into Latin America it had never exceeded $14 million (M) in annual sales. The Argentina office itself had never produced more than $400 thousand (K) in sales. My task was to increase the sales locally in Argentina, but more importantly throughout Latin America.

I have received a number of requests for advice from salespeople and sales managers that sell "commodity" products and services. When I refer to commodities, I don't just mean pork bellies or frozen concentrated orange juice. A commodity is any product or service where the target prospect is likely to be thinking:

"I get contacted by (X) salespeople a day that sell (whatever they perceive your product or service to be). Why should I spend any of my time with you?"

Your sales are down and leads are rare. The phones not ringing. Lets blame marketing!

If you join this band wagon to rationalize your poor sales results, you need to step up and take responsibility for your own fate. Its amazing how often sales teams play the victim here. They blame the marketing department, team or an individual, for their lack of sales.

The Cash to Cash Cycle

Part Three of Series

Were sprinting toward that million dollar mark...and were only a couple strides away

Decreasing inventory carried us over the first hurdle, and last week reducing Accounts Receivable sped us through the half-way mark. Were making great time, so lets bring on the next mile marker marketing and sales.

Increasing Overall Sales and Marketing Effectiveness

The best way to get a new customer is to clearly identify
who you want
to do business with and then get in front of them. They can
then see what you look
like, possibly see what your product looks like and also
examine any data or
statistics you might have. It gives you the ideal
opportunity to start building
a positive working relationship with your potential
customer.

Advertising, direct mail, web sites and telesales all have
their place but nothing beats the face to face interview.
The first challenge is, of course, getting to speak to your
prospect and arrange a meeting.