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High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
High Octane Marketing
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High Octane Marketing
High Octane Marketing
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High Octane Marketing
High Octane Marketing
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High Octane Marketing

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In this presentation, we will discuss ways in which one can accelerate sales of products by acquiring unique selling strategies and propositions while valuing time, money and customers. …

In this presentation, we will discuss ways in which one can accelerate sales of products by acquiring unique selling strategies and propositions while valuing time, money and customers.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html

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  • 1. Chapter 2High Octane Marketing
  • 2. Objectives• After going through this chapter you will be able to understand: – Why and how to fine tune your operation? – How to get better of others? – The work is your life and it is fun – The importance of setting goals and – What is mastermind group?
  • 3. 19 ways to supercharge yoursales: High Octane 1 How to make your imagination a reality• You have to think about buying a customer as you buy a commodity• You have to keep on buying customers on a regular basis
  • 4. 19 ways to supercharge yoursales: High Octane 1 How to make your imagination a reality• You spend a lot of money on advertizing sending direct individual mails, telephone calls etc. for marketing of your product• One should not think of expenditure on attracting customers towards his business
  • 5. 19 ways to supercharge yoursales: High Octane 1 How to make your imagination a reality• There is one more reason for they getting satisfied with one sale per customer – Complacency
  • 6. 19 ways to supercharge yoursales: High Octane 1 How to make your imagination a reality• If you are selling only a single brand of product then it is high time that you look for incorporating a value added aspect to that product
  • 7. 19 ways to supercharge yoursales: High Octane 1 How to make your imagination a reality• The idea of value addition need not necessarily be adhered to electronic products only
  • 8. 19 ways to supercharge yoursales: High Octane 1 How to make your imagination a reality• Be ready with your additional offer at the time of your very first sale• Keep in mind: – Never develop the front-end without building up the back-end also then keep the chain reaction of sales stretching as long as you can!
  • 9. 19 ways to supercharge yoursales: High Octane 2 Concentrate on the Best Customers• The computer is playing the vital role in today’s various business activities• Almost all the retail shops, supermarkets etc. have installed the computers
  • 10. 19 ways to supercharge yoursales: High Octane 2 Concentrate on the Best Customers• With installation of the computer the data like – – The customers who visited more often – Who go for costly items – Those making frequent visit and poor buying etc. can be retrieved
  • 11. 19 ways to supercharge yoursales: High Octane 2 Concentrate on the Best Customers• Concentrate your advertizing and marketing efforts on good section of customers and drop or spend less on bad lot of customers
  • 12. 19 ways to supercharge yoursales: High Octane 2 Concentrate on the Best Customers• Your computer data show not only how much certain customers spend but also what they like to buy the most
  • 13. 19 ways to supercharge yoursales: High Octane 2 Concentrate on the Best Customers• For Example – Consider a grocery shop – Sometimes the grocer puts certain items on a sale to make low profit from on them
  • 14. 19 ways to supercharge yoursales: High Octane 2 Concentrate on the Best Customers• If your computer data is well maintained, it will show you who step in your shop to buy the high profit items most often
  • 15. 19 ways to supercharge yoursales: High Octane 2 Concentrate on the Best Customers• For example: – Mail a good customer a coupon along with your leaflet – This would generate a unique feeling in them and would jump on the offer without any hesitation
  • 16. 19 ways to supercharge yoursales: High Octane 3 Standing on the Shoulders of Giants• The world has seen man a lot of very intelligent personalities• Newton possessed the most monstrous brain power
  • 17. 19 ways to supercharge yoursales: High Octane 3 Standing on the Shoulders of Giants• If you want to achieve something in your life, you follow what Newton did – stand on the shoulders of the giants• A simple calculation will get you what the lifetime value of customer is
  • 18. 19 ways to supercharge yoursales: High Octane 3 Standing on the Shoulders of Giants• The work out is very simple – Imagine a new customer comes into your shop and buys Rs. 1,000 worth of products – If he keeps on visiting and effective purchase of about Rs. 5,000 on an average of three years then you make a business of Rs. 15,000
  • 19. 19 ways to supercharge yoursales: High Octane 3 Standing on the Shoulders of Giants• The work out is very simple – So, Rs. 5,000 is average profit• This is a blind shotgun method which may or may not be a viable proposition
  • 20. 19 ways to supercharge yoursales: High Octane 3 Standing on the Shoulders of Giants• Once you are able to assess the exact worth of a particular customer you can plan your marketing strategies in a broader spectrum
  • 21. 19 ways to supercharge yoursales: High Octane 3 Standing on the Shoulders of Giants• You are likely to attract many more times, say four to five times a customers as before resulting into a lot more business and much coming into your pocket
  • 22. 19 ways to supercharge yoursales: High Octane 3 Standing on the Shoulders of Giants• Process to evaluate the lifetime value of a customer – Observe your business data and find out a what customer buys and the amount he spends – Find your net profit on each customer
  • 23. 19 ways to supercharge yoursales: High Octane 3 Standing on the Shoulders of Giants• Process to evaluate the lifetime value of a customer – This evaluation is possible only if you collect the correct sales data for each of your valid customers – Calculate the average monetary worth of your customer
  • 24. 19 ways to supercharge yoursales: High Octane 4 Your Unique Selling Schemes• Whatever may be your business, you have competitors close by• The buyer need not choose to buy from you, he may buy from your competitor also
  • 25. 19 ways to supercharge yoursales: High Octane 4 Your Unique Selling Schemes• There are two things are to be done to make the switch over effectively – Develop a unique selling scheme – Make sure your prospective customers notice the proposition
  • 26. 19 ways to supercharge yoursales: High Octane 4 Your Unique Selling Schemes• How to develop a unique selling scheme? – If you advertize loud and clear people will get the idea o your product – Free delivery is a unique selling scheme
  • 27. 19 ways to supercharge yoursales: High Octane 4 Your Unique Selling Schemes• How to develop a unique selling scheme? – Use car dealers complete for grabbing major share of the market – There is little to lose whereas much to gain
  • 28. 19 ways to supercharge yoursales: High Octane 4 Your Unique Selling Schemes• How to develop a unique selling scheme? – Write down each and every benefit and quality of your product and compare them with your competitor’s – You have to make know the customers that you have something special to offer
  • 29. 19 ways to supercharge yoursales: High Octane 5 Be Different in Positioning• The another way to of keeping you outstanding is ‘Positioning yourself as an expert in your field of activity’• People do not care to pay a little more for an expert
  • 30. 19 ways to supercharge yoursales: High Octane 5 Be Different in Positioning• Write a book about the virtues of a particular product and distribute it in your area• You can attend public for a and debates• Publish your own newsletters and distribute it freely to your customers
  • 31. 19 ways to supercharge yoursales: High Octane 6 Endorsement – A Flood of New Business• People go through an advertisement with a prejudiced mindset• When there is a well known personality to endorse your product it will be far better than a full page color ad
  • 32. 19 ways to supercharge yoursales: High Octane 6 Endorsement – A Flood of New Business• The key is to get other people endorse your product for you• There are two different ways: – You may ask your friend customers to recommend your product among their friends
  • 33. 19 ways to supercharge yoursales: High Octane 6 Endorsement – A Flood of New Business• The other way is to get a third-party endorsement from a non-competing business owner, or celebrity• They may prove highly expensive
  • 34. 19 ways to supercharge yoursales: High Octane 7 Direct Mail• Direct mail is the best marketing tool as you can reach thousands very fast and for lesser cost than any other instrument
  • 35. 19 ways to supercharge yoursales: High Octane 7 Direct Mail• You may be rightly apprehensive that the direct mail is treated as junk by vast majority of the recipients• Some of them will not bother to open the cover and have a look at the contents
  • 36. 19 ways to supercharge yoursales: High Octane 7 Direct Mail• For example – Let us say your Rs. 2,000 worth of product really cost costs you Rs.700 – This means your cost towards the product is 100X700 = Rs. 70,000
  • 37. 19 ways to supercharge yoursales: High Octane 7 Direct Mail• For example – Take the case of the book ‘How to Fight Cancer and Win’ – First, the publisher test marketed a direct mail piece and got a response rate of about 20%
  • 38. 19 ways to supercharge yoursales: High Octane 7 Direct Mail• For example – Copy Writing: Not any Peter, Dick and Harry can create a direct mailing material – It should be noted that the list of customers sending direct mail must contain only the selected ones
  • 39. 19 ways to supercharge yoursales: High Octane 8 Free Advertisement with Multiple Out-pull• There are a certain kinds of advertisements that come entirely free and without any stigma attached with it• You have to come up with a newsworthy angle to your service
  • 40. 19 ways to supercharge yoursales: High Octane 8 Free Advertisement with Multiple Out-pull• How to get newsworthy angle? – Be creative and you get a sense of what makes news and accordingly you make some news happen – You have to be innovative and imaginary
  • 41. 19 ways to supercharge yoursales: High Octane 8 Free Advertisement with Multiple Out-pull• Free advertisements acts as a compelling factor for the customers to try your product leading to a massive influx of new customers and money as well
  • 42. 19 ways to supercharge yoursales: High Octane 8 Free Advertisement with Multiple Out-pull• Issuing press releases is another method of creating public awareness• Work hard to get this angle to your business
  • 43. 19 ways to supercharge yoursales: High Octane 9 Do it Fast – Tomorrow is Too Late• Time is more than anything else• The money we spend is gone as the time we spend• Time and money are intimately bound with each other
  • 44. 19 ways to supercharge yoursales: High Octane 9 Do it Fast – Tomorrow is Too Late• In the World, noting is valuable than the Time• You will be astonished to see that you really spend only a fraction of your time in money making
  • 45. 19 ways to supercharge yoursales: High Octane 9 Do it Fast – Tomorrow is Too Late• Two reasons for people wasting money – They do not think of the fact that time is money – They are simply careless
  • 46. 19 ways to supercharge yoursales: High Octane 9 Do it Fast – Tomorrow is Too Late• Once you are aware that every moment is precious, you will withdraw yourself from wasting time any more• Each one of us is allotted with a certain fixed time on this Earth
  • 47. 19 ways to supercharge yoursales: High Octane 10 Remove the Risk Factor• It is the fact that all buyers have several reasons for not buying a certain product• The perfect business persons have ready remedy with them to counter these allegations
  • 48. 19 ways to supercharge yoursales: High Octane 10 Remove the Risk Factor• Do not think literally that the buyer will come back for pay-back• Each new customer costs you money but each repeat sale comes free if cost
  • 49. 19 ways to supercharge yoursales: High Octane 10 Remove the Risk Factor• When you remove the hurdle of risk from your products, the sales boost up in multiples without spending for ads and marketing
  • 50. 19 ways to supercharge yoursales: High Octane 10 Remove the Risk Factor• The stronger you make the guarantee, the better it is• Stronger the risk removal factor, better your sales prospects
  • 51. 19 ways to supercharge yoursales: High Octane 11 An Ad Five Times More Effective• An ad contains many a variables which interact unpredictably due to its natural instinct• Nobody can predict about an ad
  • 52. 19 ways to supercharge yoursales: High Octane 11 An Ad Five Times More Effective• There is always an element of risk in advertising effort• An ad has to hit the market at the right time
  • 53. 19 ways to supercharge yoursales: High Octane 11 An Ad Five Times More Effective• There is no scientific formula that can guarantee a total success in an advertizing campaign• Sometimes even the first run may be successful
  • 54. 19 ways to supercharge yoursales: High Octane 11 An Ad Five Times More Effective• Many times slight change in wording of headline or an alternative offer get changed in the body matter can alter the situation favorably
  • 55. 19 ways to supercharge yoursales: High Octane 11 An Ad Five Times More Effective• It’s quite advisable to test and change your ad very often• No doubt, changing an ad very often is quite expensive, but when it pulls high response you will reap the rewards as well
  • 56. 19 ways to supercharge yoursales: High Octane 12 Learn from the Farmer• If you ask a prospective farmer how he is doing in his harvest, he will place before you all the factors for which he had spent
  • 57. 19 ways to supercharge yoursales: High Octane 12 Learn from the Farmer• The exciting market area is the business ‘acreage’ for a businessman• You can easily make out, on a close observation that a majority of your business comes from an area that falls within four to six kilometers of area
  • 58. 19 ways to supercharge yoursales: High Octane 12 Learn from the Farmer• There are two ways to improve your yield per acre: – You can increase your market share by getting more of those 20,000 to come in and be your customer – You can get more business from those 7.5% you have already captured
  • 59. 19 ways to supercharge yoursales: High Octane 12 Learn from the Farmer• Take a look at what you are doing to get your usual 7.5 yield• Many of them may turn out to be casual step- in
  • 60. 19 ways to supercharge yoursales: High Octane 12 Learn from the Farmer• Make a big offer of give something entirely free on a certain amount of purchase• Think and do what a farmer does
  • 61. 19 ways to supercharge yoursales: High Octane 13 Looking Out for Common Traits• You have to concentrate your efforts on a carefully chosen group of customers, which is called as ‘target marketing’
  • 62. 19 ways to supercharge yoursales: High Octane 13 Looking Out for Common Traits• Catch the very best and qualified targets• For any trade, there is a publication related with it, providing information about that industry
  • 63. 19 ways to supercharge yoursales: High Octane 14 No Problem if Your Customer has No Money• Is a customer says he really needs your product but he does not have a money right now, do not hesitate• You tell him to take the product right away paying whatever he could and the rest he can pay on easy installments
  • 64. 19 ways to supercharge yoursales: High Octane 14 No Problem if Your Customer has No Money• ‘No Money’ road block is most common excuse but at the same time one of the best overcome• It is proven fact that many businessmen have tried this and succeed enormously
  • 65. 19 ways to supercharge yoursales: High Octane 15 Go Ahead and Break It• The top ranking insurance salesman, Sid Friedman, said “ If it isnt broke, brake it”• You should always strive to lead making others to play ‘catch up’ with you
  • 66. 19 ways to supercharge yoursales: High Octane 15 Go Ahead and Break It• Differentiation is a business term• If you cannot make any significant change in the product atleast change the package
  • 67. 19 ways to supercharge yoursales: High Octane 15 Go Ahead and Break It• Not all your differentiation effort may click• What you learn from this experience is that you must be prepared to face certain risk while going with your differentiation formula
  • 68. 19 ways to supercharge yoursales: High Octane 15 Go Ahead and Break It• Example: – A photographer came out with a novel offer of providing glamour photos – Most of the petrol pumps switched over to self service
  • 69. 19 ways to supercharge yoursales: High Octane 16 They Go Away Quietly• Very often you don’t know what happens when you annoy your customer• A satisfied customer will not hesitate to open up himself and present a rosy picture of you and your product
  • 70. 19 ways to supercharge yoursales: High Octane 16 They Go Away Quietly• One of the best thing to attract a repeat business is to resolve customer problems in their favor even if it costs you a little bit• Does not be a penny-wise if you are going to be pound foolish later
  • 71. 19 ways to supercharge yoursales: High Octane 17 Value Added Attachment• The customer will happy to get something for which they don’t pay• It will be much appreciable to gif something connected with the item customer buys
  • 72. 19 ways to supercharge yoursales: High Octane 17 Value Added Attachment• For Example: – Polish or a brush as a gift for every purchase of a pair of shoes – A shampoo as a gift for a lady, comes in Spa for hair coloring
  • 73. 19 ways to supercharge yoursales: High Octane 18 How to Make Shoppers into Buyers?• After spending a lot on advertisements and other marketing techniques if people come into your shop and went out without making any significant purchase it would be shame no if a tragedy
  • 74. 19 ways to supercharge yoursales: High Octane 18 How to Make Shoppers into Buyers?• A customer is happy to stay more if he meets inviting looks and atmosphere• Displaying your guarantee prominently is another way to make the customer to settle down
  • 75. 19 ways to supercharge yoursales: High Octane 18 How to Make Shoppers into Buyers?• If you take a survey of a particular likes of people by way of giving out forms to fill in and ask them to come in for a discount• Capture all relevant information regarding the customers as much as possible
  • 76. 19 ways to supercharge yoursales: High Octane 18 How to Make Shoppers into Buyers?• Another method is to give customers an immediate incentive to come back and buy again• The magic words ‘Thank You’ really are capable of mesmerizing prospective customers
  • 77. 19 ways to supercharge yoursales: High Octane 19 Difference Being 1st and 2nd• A margin between 1st and 2nd may ne narrow but the power and fame go with the first while the second is being pushed into obligation
  • 78. 19 ways to supercharge yoursales: High Octane 19 Difference Being 1st and 2nd• The second and third in the line are forgotten and nobody cares to know even• There are many examples where the number two had acquire more fame with staunch publicity
  • 79. Summary• To run your daily business, you have to buy customers like a commodity• It is mandatory for a successful businessman to keep a record of purchasing behavior of all customers
  • 80. Summary• Try to acquire a unique selling proposition• Position yourself as an expert in your field which can be done through calculated publicity tactics
  • 81. Summary• Making a list of good and regular customers by collecting and storing a vital data on a computers will help you to send direct mail• Time is money, nothing is more important than the time
  • 82. Summary• All buyers have a dozen of reasons for not to buy, such as – Cost is too much – Not sure of quality• Two basic ways to improve sales: – Increase your market share – Increase your area of operation
  • 83. Summary• Do not leave out a customer who does not have sufficient money right now. Offer them a monthly installment paying• If your customer likes you and trust you then you need not compete on the basis of price
  • 84. Summary• Getting something free which a customer did not expect makes him baffled and surprised• Thank customer profusely for his visit and purchasing your product so as to make the customer to repeat
  • 85. End of Chapter 2High Octane Marketing

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