1. Getting customers requires generating leads through teasers, building a customer database, and contacting leads daily with a goal of leads per week/month. Meeting customers yourself is important to understand their problems and needs.
2. Retaining customers involves keeping in contact through newsletters and social media, showing continued interest, addressing cancellations, offering additional services, maintaining brand image, and rewarding loyalty.
3. Pricing a product requires calculating costs of development, production, marketing, and profit to reflect customer value and competition while covering expenses.
Boost your profits by boosting your reputation - How to get customers with fr...James Pereira
Discover why every company needs to market its reputation in order to keep customers and get these customers to bring new customers along.
The 8 steps to boost your reputation revealed in 35 pages.
These 8 steps will boost your revenue as well as slash your operating costs, therefore increasing your profits.
11th Jeddah Marketing Club, Neuromarketing by Dr.Sameh GaberMahmoud Bahgat
11th Jeddah Marketing Club, Neuromarketing by Dr.Sameh Gaber
to attend & Get the Address Confirm to me on Pvt WhatsApp
#Mahmoud_Bahgat
00966568654916
#Marketing_Club
Only If you are a Marketer Register as a member & or a Speaker in the link
http://goo.gl/forms/RfskGzDslP
■■■■■■■■■■■■■■
جروبات خاصة عالواتساب ب
محبي العمل فالتسويق فالمستقبل
غير عاملين بالتسويق حاليا للتعلم
■ أهم الإعلانات والأفكار والكتب في التسويق■
■■ *بدون كلام ولا سلام ولا شكرا*■■
فقط اشتراك الجروبات
وليس حضور اجتماعات نادي الماركتينج
■ *(الماركتيرز لهم جروبات خاصة)*■
ويستطيعوا حضور الاجتماعات الشهرية ولنا
■ اشترك في جروب واحد منهم فقط دوس على اللينك ■
Marketing club 19 (Future)
https://chat.whatsapp.com/IqDyV0a7GcPIKhcSKan8zD
Marketing club 20 (Future)
https://chat.whatsapp.com/Kt0SlWIeh3n8JPNrUKBOX8
■■■■■■■■■■■■■■■■
Marketing Club Middle East
Since 29 October 2015
We have 7 groups whatsapp
with 750 marketers
From all middle east
since 9 years
& now 13 more groups
For Marketing Club Lovers as future Marketers
Many non Marketers yet have asked to Attend the Club
((We Wish All can Attend,But Cant right now but soon we will..))
Criteria for attending Marketing Club Meetings
•••••••••••••••••••••••••••••••
For Better Harmony & Mind set.
Must be only Marketer
Also Previous Marketing experience
●Business Managers
●Country Manager,GM
●Directors, CEO
Are most welcomed to add Value to us.
■■■■■■■■■■■■■■■■
《 *Unmatched Criteria*》 till we allow all soon
Not Med Rep,
Not Key Account,
Not Product Specialist,
Not Sales Supervisor,
Not Sales Manager,
●●●●●●●●●●●●●●●●●●
But till you become a marketer
you can join our What'sApp group
Marketing Lover Future Club Group
■■■■■■■■■■■■■■■■
《 *Unmatched Criteria*》
For Conflict of Interest
Also Can't attend
If Working in a Marketing Services Provider
=not Hotel or tourism
=not Restaurant
=not Advertising
=not Event Manager
=not Market Researcher
■■■■■■■■■■■■■■■■
this Club for Only Marketers
Soon will open for all
Very Soon we will have
■ Business Leaders Club ■
For Sales Managers & Directors
Will be Not for Marketers
■■■■■■■■■■■■■■■■
جروب وصفحة الماركتينج كلووب عالفيسبوك
#Marketing_Club Group on Facebook
https://www.facebook.com/groups/837318003074869/
Now we can talk freely In all marketing topics
As open discussion all the time
On our Facebook group
Without disturbing anyone
on our 16 what'sApp groups
To keep what's app groups simple &to the point
Only 2 or 3 posts daily
■اتكلم براحتك على الفيسبوك■
وخلي الواتساب صور وكتبو وبوستات كاملة فقط حتى لا نزعج الناس
اشترك الآن في صفحة الفيسبوك
https://www.facebook.com/MarketingTipsPAGE/
اشترك الآن في جروب الفيسبوك
https://www.facebook.com/groups/837318003074869/
لتسجيل بيناتك لتصلك بعض المحاضرات لو أمكن عالايميل
http://goo.gl/forms/RfskGzDslP
#Marketing_Club
#Mahmoud_Bahgat
00966568654916
■■■■■■■■■■■■■■■
Boost your profits by boosting your reputation - How to get customers with fr...James Pereira
Discover why every company needs to market its reputation in order to keep customers and get these customers to bring new customers along.
The 8 steps to boost your reputation revealed in 35 pages.
These 8 steps will boost your revenue as well as slash your operating costs, therefore increasing your profits.
11th Jeddah Marketing Club, Neuromarketing by Dr.Sameh GaberMahmoud Bahgat
11th Jeddah Marketing Club, Neuromarketing by Dr.Sameh Gaber
to attend & Get the Address Confirm to me on Pvt WhatsApp
#Mahmoud_Bahgat
00966568654916
#Marketing_Club
Only If you are a Marketer Register as a member & or a Speaker in the link
http://goo.gl/forms/RfskGzDslP
■■■■■■■■■■■■■■
جروبات خاصة عالواتساب ب
محبي العمل فالتسويق فالمستقبل
غير عاملين بالتسويق حاليا للتعلم
■ أهم الإعلانات والأفكار والكتب في التسويق■
■■ *بدون كلام ولا سلام ولا شكرا*■■
فقط اشتراك الجروبات
وليس حضور اجتماعات نادي الماركتينج
■ *(الماركتيرز لهم جروبات خاصة)*■
ويستطيعوا حضور الاجتماعات الشهرية ولنا
■ اشترك في جروب واحد منهم فقط دوس على اللينك ■
Marketing club 19 (Future)
https://chat.whatsapp.com/IqDyV0a7GcPIKhcSKan8zD
Marketing club 20 (Future)
https://chat.whatsapp.com/Kt0SlWIeh3n8JPNrUKBOX8
■■■■■■■■■■■■■■■■
Marketing Club Middle East
Since 29 October 2015
We have 7 groups whatsapp
with 750 marketers
From all middle east
since 9 years
& now 13 more groups
For Marketing Club Lovers as future Marketers
Many non Marketers yet have asked to Attend the Club
((We Wish All can Attend,But Cant right now but soon we will..))
Criteria for attending Marketing Club Meetings
•••••••••••••••••••••••••••••••
For Better Harmony & Mind set.
Must be only Marketer
Also Previous Marketing experience
●Business Managers
●Country Manager,GM
●Directors, CEO
Are most welcomed to add Value to us.
■■■■■■■■■■■■■■■■
《 *Unmatched Criteria*》 till we allow all soon
Not Med Rep,
Not Key Account,
Not Product Specialist,
Not Sales Supervisor,
Not Sales Manager,
●●●●●●●●●●●●●●●●●●
But till you become a marketer
you can join our What'sApp group
Marketing Lover Future Club Group
■■■■■■■■■■■■■■■■
《 *Unmatched Criteria*》
For Conflict of Interest
Also Can't attend
If Working in a Marketing Services Provider
=not Hotel or tourism
=not Restaurant
=not Advertising
=not Event Manager
=not Market Researcher
■■■■■■■■■■■■■■■■
this Club for Only Marketers
Soon will open for all
Very Soon we will have
■ Business Leaders Club ■
For Sales Managers & Directors
Will be Not for Marketers
■■■■■■■■■■■■■■■■
جروب وصفحة الماركتينج كلووب عالفيسبوك
#Marketing_Club Group on Facebook
https://www.facebook.com/groups/837318003074869/
Now we can talk freely In all marketing topics
As open discussion all the time
On our Facebook group
Without disturbing anyone
on our 16 what'sApp groups
To keep what's app groups simple &to the point
Only 2 or 3 posts daily
■اتكلم براحتك على الفيسبوك■
وخلي الواتساب صور وكتبو وبوستات كاملة فقط حتى لا نزعج الناس
اشترك الآن في صفحة الفيسبوك
https://www.facebook.com/MarketingTipsPAGE/
اشترك الآن في جروب الفيسبوك
https://www.facebook.com/groups/837318003074869/
لتسجيل بيناتك لتصلك بعض المحاضرات لو أمكن عالايميل
http://goo.gl/forms/RfskGzDslP
#Marketing_Club
#Mahmoud_Bahgat
00966568654916
■■■■■■■■■■■■■■■
Rapidly testing value propositions with FB ads. Or: Value prop testing for in...Garrett Dunham
Learn tips and secrets of using FB ads to test value propositions in a lean, rapid, and scalable way.
You'll learn:
- Three advanced testing structures designed to solve real business questions.
- A method to skyrocket conversions by through transformational copywriting.
- A copywriting method so effective it forced Linkedin to change it’s algorithm.
- The three ‘Ninja Targeting’ tricks I always use to slash ad spend.
Killer FB ad tricks that you won’t find with Google.
How do brands really grow? How do brands grow in a radically disrupted internet economy? We explore brand growth in today’s digital world, with perspectives from Nicholas Lovell, Lionel Benbassat of Eurostar, and the Arena strategy team.
Get Book Smart - Building Distinctive Brand Assetsemmersons1
The latest book from the Ehrenberg-Bass institute is a fascinating foundation on distinctive brand assets - if you want to understand the science behind why distinctive assets matter, how to build them and crucially how to manage them, read on.
Handbook about open data focused in training proposers in FINODEX 1st Open Call for proposers.
Data licences, open data business models, open data definition, etc.
Rapidly testing value propositions with FB ads. Or: Value prop testing for in...Garrett Dunham
Learn tips and secrets of using FB ads to test value propositions in a lean, rapid, and scalable way.
You'll learn:
- Three advanced testing structures designed to solve real business questions.
- A method to skyrocket conversions by through transformational copywriting.
- A copywriting method so effective it forced Linkedin to change it’s algorithm.
- The three ‘Ninja Targeting’ tricks I always use to slash ad spend.
Killer FB ad tricks that you won’t find with Google.
How do brands really grow? How do brands grow in a radically disrupted internet economy? We explore brand growth in today’s digital world, with perspectives from Nicholas Lovell, Lionel Benbassat of Eurostar, and the Arena strategy team.
Get Book Smart - Building Distinctive Brand Assetsemmersons1
The latest book from the Ehrenberg-Bass institute is a fascinating foundation on distinctive brand assets - if you want to understand the science behind why distinctive assets matter, how to build them and crucially how to manage them, read on.
Handbook about open data focused in training proposers in FINODEX 1st Open Call for proposers.
Data licences, open data business models, open data definition, etc.
Spotlight On... Pharma Content MarketingCOUCH Health
For the 3rd edition we’re focussing on one of my favourite topics, and one I’m really passionate about – content. In my opinion, getting content marketing right is a game-changer. It attracts and really engages consumers. Even better, it creates trust, and in-turn, brand loyalty. Now, who doesn’t want that?
But of course, as with many things, there’s a bad way, a good way, and the best way to go about it. Luckily, for our 3rd edition of Spotlight On, we’ll be shining a light on the latter.
Tactics On Dealing With People Wisely In Network Marketing!Uzzal Hossain
Are you struggling with the fact that you really don't know anything about prospecting?
Have you ever felt uneasy or inarticulate when speaking to a prospect? You recognize the moment of truth is upon you . . .
it's time to recruit this fresh prospect -- but how?
What if I can offer you a solution that will help you to attain greatness, to become a success in your prospecting and realize your potential?
With practice this procedure will be easy. For now, abide by these steps to making headway in conversations with prospects.
Creative message appeals, ad design and testing copy writing visuals, creativ...Rai University Ahmedabad
This lecture involves basics about Message appeal, ad design, copy writing, and impact of IT on ad design. (More info visit: http://www.moocsfoundation.org)
Originally presented by MOOCs Foundation an initiative of Rai University.
MOOCs Foundation is committed to the expansion of higher education through enhanced digital access to online resources and courses by the best of universities worldwide for learning and upgrading skills.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
🟢 Card Verified
🟢 Full SSN Provided
🟢 Phone Number Access
🟢 Driving License Copy
🟢 Fasted Delivery
Client Satisfaction is Our First priority. Our services is very appropriate to buy. We assume that the first-rate way to purchase our offerings is to order on the website. If you have any worry in our cooperation usually You can order us on Skype or Telegram.
24/7 Hours Reply/Please Contact
usawebmarketEmail: support@usawebmarket.com
Skype: usawebmarket
Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
Website Link :
https://skyeresidences.com/
https://skyeresidences.com/about-us/
https://skyeresidences.com/gallery/
https://skyeresidences.com/rooms/
https://skyeresidences.com/near-by-attractions/
https://skyeresidences.com/commute/
https://skyeresidences.com/contact/
https://skyeresidences.com/queen-suite-with-sofa-bed/
https://skyeresidences.com/queen-suite-with-sofa-bed-and-balcony/
https://skyeresidences.com/queen-suite-with-sofa-bed-accessible/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-king-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed-accessible/
#Skye Residences Etobicoke, #Skye Residences Near Toronto Airport, #Skye Residences Toronto, #Skye Hotel Toronto, #Skye Hotel Near Toronto Airport, #Hotel Near Toronto Airport, #Near Toronto Airport Accommodation, #Suites Near Toronto Airport, #Etobicoke Suites Near Airport, #Hotel Near Toronto Pearson International Airport, #Toronto Airport Suite Rentals, #Pearson Airport Hotel Suites
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
Affordable Stationery Printing Services in Jaipur | Navpack n Print
#FIWAREPamplona - Training Day - Gaining and retaining customers
1. 1
Ivan Häuser
Address to Entrepreneurs at the Finodex Project’s FIWARE-Roadshow 2 September 2016 in Pamplona
Gaining and retaining customers
GETTING A CUSTOMER
Customers are the entrepreneurs’ most important persons. In the long run, it is the customers who must
pay for what you do. So let us first define what a customer is:
A customer is a person who has a need or a problem I can remedy with my solution which the customer is ready to
pay a price for that will give me a profit.
Perhaps you have been in contact with customer prospect from start, and perhaps they have helped you
developing your prototype. But very often, an entrepreneur invents a solution before he or she has a
customer who will buy it. If so, there can be a long way from having no relation to a customer until you
meet a customer face to face:
In order to get customers, you must generate leads. In retail, lead boxes are a popular instrument for doing
this. You’ll find them in supermarkets at the check-out where many people see them. There is a clear
message on the box about the offer (for instance “Do you want to lose 5 kilos in two weeks?”), and there
are slips of paper you can write your contact information on and post in the box. The posted slips are leads,
the lead box now contains the names of people who are interested in your offer, and you can contact them.
Instead of lead boxes, which are not relevant for most of you because of the nature of your solutions, you
should:
2. 2
Arouse curiosity with teasers and appetizers on email and/or social media
Get the prospects’ contact info
Build a customer database
Be aware that you need to contact customers every day
Set goals for number of leads per week/month. Follow up on all leads quickly – leads are
perishables (”fresh food”).
As a management consultant, whenever I was in the office, I spent at least an hour, for instance 9-10 am
on calling prospects or on following up on customers I had already had been in contact with.
Fig. Lead box
It can be burdensome to get meetings with customer prospects, and therefore perhaps tempting to let
someone else do the hard work for you. But don’t hire meeting bookers! Do it yourself. Meeting bookers
require approx. 100 euros per meeting they book for you. Furthermore, although they may have
understood your business and your product, don’t expect to turn more than 5% of these meetings into
contracts. Meeting bookers are good at persuading, so the customer prospects will often say yes to a
meeting, because he/she feels pressured, not because of genuine interest.
When you participate in fairs, make sure that your booth shows activity so that it attracts visitors. Perhaps
your prototype can be working, perhaps you can show a video. Attract people through activity.
Your website should also be interesting to visit, and there should be news every week. Make the website
interactive, e.g. communicate with your costumers on a blog. (See problogger.net for advice about how to
build a blog).
Make a strategy for getting customers, based on the nature of your solution, the strength of your
competitors and the behavior of your customers. Consider whether you compete on price or quality or
3. 3
both. Decide, whether your customers need a demonstration of your products, or whether referrals are
more relevant or just enogh.
Fig. Considerations about marketing and sales
Your first customer is your source of wisdom and a friend. He or she:
1. Shares her/his problems, fears, hopes, worries and pain with you
2. Makes you understand the value of your solution (time and money saved, new business opportunities)
3. Gives you feedback and so helps you develop your prototype
4. Becomes your first reference and ambassador
5. Reveals how he/she prefers to communicate with suppliers and customers (mail, website, social media,
personal)
6. Knows of other customer prospects and possible partners
7. Deserves reward in the form of a lot of attention, service, discounts.
Your target group is also the target group of others. In order to reduce marketing costs and to get deeper
insight in the target groups, you might consider teaming up with a partner:
Your product is not for all. Probably, you have a number of target groups, perhaps 2-3, not only one. Let me
give you an example: let us say, I want to sell a new app-based method through which all children can learn
4. 4
to read, including dyslectics. Children without reading difficulties will learn to read in half the normal time.
The children, however, are not my target group, because they are not going to pay. Their parents are.
These parents can be subdivided into three groups: 1) Ambitious parents, who want their child to excel and
read earlier than most others. 2) Parents of children with reading difficulties who want immediate action in
order to get their child on track and catch up. 3) Disappointed parents who, to begin with, have trusted the
primary schools to help the child and ask me to help now. The number of members (parents) in each group
can be calculated. You then can assume that 10% in each target group will buy. And knowing that parents
spend a lot of money on their children, you can set the price reasonably high, for instance 15 euro per app.
So, returning to your own business, define your three (or more) target groups:
Customer segment 1: Definition and number of members
Customer segment 2: Definition and number of members
Customer segment 3: Definition and number of members
Then quantify each segment and set a price, which reflects the value for the customer and makes you earn
a satisfactory profit. In a five-year perspective, you must have a revenue which can pay for your own work,
your employees’ work and for the further development of your product.
For each segment, answer the questions below:
One thing is to prepare a strategy for approaching customers, another is to overcome possible personal
psychological inhibitors. You may be your own enemy in this respect, if you avoid direct customer contact
under all kinds of pretexts:
5. 5
In the same vein, you should know not only yourself and your tendency to procrastinate and avoid action,
but also learn about some of the findings from the Psychology science which can be used in marketing:
Reciprocity or ”Foot-in-the-door” principle. Regan’s experiment (1971) is about creating gratitude, give for
instance a free e-book, a free consulting call. If people have committed themselves, they identify with this
commitment and feel obliged to buy. Find a way to make your customer grateful and committed. Give him or
her something, an element of your product or some relevant information for him/her. Then he or she will be
more inclined buy later.
Conformity. Solomon Asch (1951) investigated conformity. The subject is one member of a group of people
who are asked to make judgments about various stimuli (e.g. which of two lines are longer). Unknown to the
subject, all other members of the group are stooges who deliberately agree that the erroneous answer is the
correct one. Such a circumstance allows for the assessment of the degree to which individuals succumb to
group pressure to conform or maintain independence in their judgment. Asch’s experiment showed that
individuals often follow the majority in the group. In sales and marketing, this finding can be used for
attracting new customers telling them that they will join (or be accepted by) a “group” who bought the same
item. The desire to belong to a group, or the fear of not belonging, is a strong sales factor. Therefore, use
customer testimonials when you promote your product. You can ask you first customers (your
“ambassadors”) to express their satisfaction with your product and use their testimonial in your promotion of
your product.
Fear. Burson & Gershoff (2015) have studied how consumers’ social identities stem from comparison
between themselves and others. These identities help determine consumption decisions. Unfortunately,
perceptions of comparative traits and characteristics are often biased, which can lead to similarly biased
consumption decisions. Translated into normal language, this means that people sometimes buy out of fear.
They want to match the social group they want to belong to. In business-to-business (which is relevant for
many entrepreneurs), the customers may buy, because they fear that they - without your product - will be
beaten by competitors. Thus, when promoting your product, point to the competitive advantages your
product will give the customer. In my own research (Ivan Häuser, 2011), I have confirmed the discovery that
the language contains many more pejorative expressions than positive ones. This is a manifestation of a
general phenomenon: language (and, apparently, human consciousness) differentiates evil more finely than
good, and the unpleasant more finely than the pleasant. Simply put, fear plays a colossal role in the way we
perceive the world and is a fundamental motive or cause of our behavior.
6. 6
Framing. Kahneman (1980) made an experiment, which showed that some ways of presenting a product are
more effective than others. The effect of a new pharmaceutical treatment was explained in alternative ways
to two groups: 1a) Treatment A, 200 people will be saved, 1b) Treatment B, ”1/3 probability of saving 600
lives”. 2a) Treatment A, “400 people will die”, 2b) Treatment B, ”1/3 probability that no one will die”. All four
versions of the offer contain the same message, but they are framed differently. The majority of customers in
the two groups chose, respectively, 1a) Treatment A and 2b) Treatment B. Clearly with regard to
pharmaceuticals, customers are attracted by hope and positively formulated results. Thus, be careful with
how you frame your presentation of your product. Think what is most attractive for your customer.
Scarcity. Adewole (1975) conducted an experiment, where people had to value (set the price of) cookies.
There were two cookies in one jar, and 10 in another, all cookies being the same. The Customers valued the
cookies in the jar with two higher. For you to remember: Customers want to be special!
Environment – Meredith & Wheeler (2008) tested, where it is better to test the product, for instance at the
producer’s or at the customer’s place. The arrived at the result that a test should be conducted where the
customer is going to use the product, that is in a real setting. However, I happen to know that yachts are
easier to sell at a fair in a showroom and not when they are rocking on the waves in a harbor. The person
who is supposed to do the cooking at sea may be repelled by the rocking.
In professional sales, i.e. B2B, you should use the SPIN selling method when you meet your customer face-
to-face. With this method, you link the customer’s problems with your solution. The task is to get on the
customer’s side of the table. Show you are interested and understand her/him, before you present and
extol your solution.
The SPIN Selling Method
Getting on the buyer’s side of the table
Situational questions (be prepared from home – but show curiosity asking these innocent questions)
How many people do you employ at this location? Who are your most demanding customers? Could you tell me how
your system works?
Problem questions (Identify your customer’s problem)
What would you like to accomplish? What are your objectives? What is difficult? What prevents you from achieving
these objectives? How satisfied are you with your present system? What problems are you experiencing in this
area?
Impact
Having identified the customer’s problem, let the customer explain what this problem means to him/her, how
much he/she suffers, how happy he would be, if the problem no longer exists. Let the buyer be emotional here.
Question types: What effect do these problems have on your competitive situation? Could that lead to an increase
in your costs? How will this problem affect your people’s productivity and job-satisfaction?
Need-payoff questions
Now, after the other questions and answers, you can relate your solution to the buyer’s problems. Questions: How
would it help, if you had this information online? How could a faster system help you? What would it mean to your
business, if you could offer our solution?
When your customer prospect signals interest, it’s time be both efficient and careful. There are certain
documents you need to prepare before closing a deal or starting a co-operation:
7. 7
Non disclosure agreement
Allows the potential customers to get the necessary insight into what they are going to buy and prevents them
from copying the product.
Letter of intent
Is used for indicating interest in the product. Can also be used in negotiations with investors.
Order confirmation
Is used for confirming an order.
Standard terms of delivery
This document can contain conditions regarding pre-payment, delivery time, insurance, responsibility, guarantee,
complaint instructions
Below, see a standard Letter of Intent:
Letter of Intent
<date>
For: <Name of the entrepreneur>
Issue: <Purchase of xxxxxxx>
Reference: <Sales material, video, notes, etc.>
The company <Name, address, VAT registration number> has had a dialogue with company <Name, address, VAT
registration numer> about purchase of the product described under “Reference” above.
This product is under development and is expected to enter the market <date>.
Provided that the product meets the requirements with regard to specifications and delivery, we will buy ## pieces
at a price of <## currency>.
Signature
<Name of company representative>
In order to convince evaluators or an investor, you certainly need to have a real customer who has genuine
interest in your product. Perhaps you only have a prototype and not yet product to sell. That’s where the
Letter of Intent is comes in as a way to show that your customer is serious. The Letter of Intent also
prepares the customer for the moment when the deal must be closed, and he or she will have to pay.
When we come to the price, this must serve multiple purposes:
Price
Before getting an order, you must be able to give the costumer a price. The price should reflect
• The customer’s perceived value (what is the solution worth for the customer?)
• The competition from similar products/solutions.
• Your costs for production and marketing
• Your profit
8. 8
You cannot set a price, if you haven’t calculated the costs. These may be:
Costs
1. Development (Payment of staff for the development of hardware, software and mechanics)
2. Equipment (Components, prototype printed circuit boards (PCB)
3. Tools for manufacturing (Formwork/mold, software licenses for development tools and third party
software)
4. Production of series 0 (the first production will often have to be repeated a couple of times before it is
right. This may be expensive)
5. External test (Often you need external tests for verifications of the product. This may be due to regulatory
requirements or there may be a need for a specialized laboratory.
6. Approval, cf. regulatory requirements (All products must be CE-marked in Europe. If a product does not
conform to regulatory requirements or is not possible to categorize, it cannot enter the market. The
entrepreneur must contact a test house (for instance FDS) about this.
7. User manual
8. Packaging
9. Design
10. Support of sales Year 1 (Typically, new products have failures. Furthermore, the users must get
accustomed to them. Therefore, costs must be expected for support in the sales phase and the guarantee
period)
11. Marketing
12. Sales costs
13. Distribution
14. Complaints / errors (How do you handle complaints and failures? What does this handling cost? What
does it cost to replace defective equipment?
15. Re-design and new production, based on complaints (Probably you will have update your product, based
on user experience. This update is necessary for staying in the market).
16. Product liability insurance (can be costly, depending on the product’s nature)
Some work the entrepreneur will not do by himself, but outsource. If so, get quotations and find out what the
cost will be.
9. 9
RETAINING CUSTOMERS
Then, when you finally have got customers, it’s not just about acquiring new ones, but also about keeping
those you have got. I’s like in a personal relation, e.g. a marriage. You must remain being interesting to your
partner.
My telecommunications service provider contacts me regularly with new offers, including price reductions.
In this way they anticipate their rivals. Likewise, some companies want their customers to give feedback in
surveys. This may be irritating to the customers, but it also gives them an opportunity to make themselves
heard, and it creates the impression that the company is interested in them and currently trying to improve
the service.
You have to create customer loyalty. Reward this loyalty. Insurance companies give discounts to people
who have had no car damages and accidents. A reward can also take the form of a workshop, where the
customers get interesting information (perhaps from an external specialist presenter) and some snacks and
drinks with an opportunity for networking.
CUSTOMER RETENTION
• Keep contact (newsletter, blog, mails, social media)
• Show recurrent, constant interest
• Follow up on cancellations (Why?)
• Add-on services
• Maintain image
• REWARD loyalty (e.g. offer a better subscription when applicable)
• Surveys
Your company’s product will inevitable have a life-cycle. At some point, you’ll need to update and enhance
it. The old customers should have favorable conditions for getting your new add-ons and products.
10. 10
Sometimes, there will be customers will complain. You must have a system for handling such complaints.
See these complaints as a source of wisdom, and take corrective action so that the cause of failure
disappears.
Whenever you can, try to turn a disaster into a victory. For instance, travel agencies sometimes offer a new
trip to customers who had a bad experience. A complaint, which is handled with care and creativity, can
even enhance customer loyalty!
In Service Management, we call such a turn-around a “beautiful exit”.
Summing up, getting customers requires your awareness, energy and commitment. And when you have
gained them, work systematically on retaining them!
11. 11
References
Burson, K. A., & Gershoff, A. D. (2015). Marketing actions that influence estimates of others also shape
identity. Journal of Consumer Psychology, 25(3), 495-503. doi:10.1016/j.jcps.2015.01.00
Handbook for Entrepreneurs (2014). www.finodex-project.eu
Häuser, Ivan (2011). Følelse og Sprog (Emotion and Language). Ph.d. School LIMAC. Ph.d. Serie 2.2011
Jansson, Toni (2007). Ingenjörsamfundet. Träningsprogram för entreprenörer. Steg 7. Marknadsplan – hur man skaffar
kunder
Rackham, Neil (1996), The SPIN Selling Fieldbook. McGraw-Hill
Racks, Amanda (2012), Customer Acquisition. Xlibris Corporation