Marketing Secrets To Increase Your Profits

Good businesses sell more and make more money, why? The secret is great marketing, to understand people. Marketers know how to connect with people. They understand the difference between logic and emotions that people have. Once you know this concept you will never market your products and services the same way again.

Take the example of a crowded market. How does your business sell something in a crowded market? Especially when it is the same product or service that everyone else is selling?

How does your business get the edge on the competition? You have three choices.

Number one, you can do the same thing as everyone else. If the market is big enough, people will buy from you.

However, this is more through chance and the probabilities that if there is 1000 people looking to buy a product like the “XYZ” widget , you would get some people who will purchase it from you, but will also buy from your competitors just as easy.

You do not have much control over the market if there are numerous other business offering the same item. Just one of the competitors has to drop their price and your probabilities of people buying from you have just gone down. Not good for profit.

So doing the same or selling the same thing in a crowded market can be a real danger.

The second way is you might sell the exact same thing as everyone else, but you point out the difference of why your “XYZ” widget is unique to your business.

And when I say point it out, I mean shout it out to the people who want to buy it and can buy it, from the top of your lungs, with a megaphone, from the top of the Empire State building.

Sure everyone else is selling the same thing, however, yours is different, because you have asked your clients about what they want from the “XYZ” widget. You have listened and taken notes and figured out what your customers want. You then give the customer what they want.

The best part is, it has not cost you anything - nothing because you are not changing the widget, just emphasising the point of difference that it already has.

Everone else is selling the same thing, but you are selling the “point of difference” of your product or it could even be a service. It is the same thing as selling the “sizzle”, not the steak.

Steak by itself, uncooked is not very appealing. However, paint the picture of it sizzling hot on the barbecue, with selection of sauces and salads on a beautiful sunny day, with friends around having a few drinks and laughs. Now you have different steak, or the perception of different steak. This really comes down to good marketing.

The third way is to be different. The core of your product or service is the same as everyone else, however, you have a slight edge on your “XYZ” widget, and it is slightly different.

Once again you have been a good marketer and asked your clients about what they want from the widget. You have listened and taken notes and figured out that most people can and want to buy it.

Then you tell your selected market who can and want to buy it, about your widget.

The point of difference could be that the widget could be faster, slower, bigger, smaller, newer, older, more colourful, no colour, quieter, nosier , more ingredients, less ingredients, more healthier, more calories, thinner, thicker, more expensive, cheaper, lighter, heavier, colder, hotter, more liquid, more solid, taller or shorter. Well you get the picture, the point is to be different in a way that people want.

When I say want, I am not talking logical here, I am talking about emotional wants.

As an example, if you said to someone you are building a car that is blocky, heavy, so it will churn through the petrol and is expensive to run. It is hard to park because of its size and doesn’t go real fast, would you sell many? Probably not, however, what if said, that movie and rock stars drive it and its tough enough for the military. Now, you have a point of difference.

The advantage of being different is that if a competitor drops the price of their widget, you are not as vulnerable to the market, because yours is different and customers can only buy your “XYZ” widget from you.

Most of the time, you can charge more for your product or service because it is different.

Sure not everyone will want to buy your widget, however, now the customers are not just buying your product by chance, but by choice. You have more control and more profits because there are no price wars.

I have heard the point of difference being called a few different things in marketing circles like “U.S.P.” which stands for Unique Selling Proposal, or Unique Selling proposition. “U.B.A.”, Unique Buying Advantage is another one, whatever you call it, be sure to tell your customers about it.

Good marketing, good products or the perception of good products with an edge, makes all the difference in the world.

To Find Out More Marketing Tips And Business Secrets Go To Craig Howlett's Blog

Disclaimer - The articles aim to provide general ideas. Neither the authors nor publisher shall take any responsibility for any loss or damages occasioned to any person or organisation acting or refraining from action as a result of this information. As always the advice of a competent legal solicitor, accountant or other professional advice should be sought.