Myth 1: People buy a product at the cheapest price they can find.

That is not true – if it was then companies like Rolex and would not exist – Timex would have put them out of business a long time ago.  Despite the ease of research that the internet affords – buyers are generally lazy and don’t undertake full research.  Even on eBay where it is far easier to check the relative prices of a product – people often buy a product at a higher price than they could.  So what causes people to buy?  These are called buying triggers – the most common are:

•    Confidence in the seller
•    A high perceived value
•    Recommendations
•    Ease of purchase

Blasting Myth 1:
Establish your credentials – for example we have over 20 years of business consultancy experience – so we know what works and what does not work in a business.

Find ways of enhancing the perceived value of your product or service by adding extras or clearly demonstrating the value of it’s purchase.

Ensure that you include some actual recommendations within your sales letter.
Make it easy to purchase and receive your product by not introducing any barriers to purchase such as extra forms, obscure or complex payment methods.

Myth 2: Offering your customers numerous different options will boost your sales

When confronted with several options, most customers have difficulty making a decision. They often react by procrastinating – and going to a seller who offers a clearer product.  Now by this we don’t say add extras or up sells, just clearly state what is included in the product and don’t offer options that not only confuse but making your selling and processing more difficult.

The human mind works better when offered the two options “buy”, “don’t buy”.

Blasting Myth 2:
Only offer one product – or product package per page.  You can have a clear (and short) menu on each page to encourage multiple purchases.
If you have more than one option for a product or service – then give them different names and present them each separately.  For example you can call them “silver service”, “gold service”, “opal service” etc.  This is what we did with our various marketing services and it works quite well.

You should always aim at a small, easily understood product or service range.  You should be able to explain each of your products in one or two sentences.  If you can’t do this – how do you expect your potential buyers to understand what they are buying?

Myth 3: Everybody Needs My Product or Service

Unfortunately, most people don’t believe that they do need a particular service of product.  Obviously with items such as Ipods – your teenager will try and tell you they really, really, really need one, but this is peer pressure that has been built up with millions of dollars.  Much of this was spent on research into what there market wanted – and they got it right!

If you believe this myth then you also believe that you can succeed without doing much marketing or selling.  Unfortunately, despite what some marketers tell you – it does not happen that way.  Undoubtedly there some very successful marketers around, but they will all admit that a great deal of market research, testing and reviewing of their offerings – happened before they became successful.

Building a successful business is hard work – most of it devoted to finding potential customers and then matching them with your products and services.  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 – because you can bet your last dollar – that where there a lots of potential customers – there are just as many sellers.

Blasting Myth 3:
•    Do your homework – find out where your potential customers are, what particular needs and desires they have and what they are seeking to solve these.
•    Look for a narrowly defined niche market where your product or service will solve a unique need of the customers.
•    Design your product or service to meet these needs.
•    Test, Change, Test, Refine, Test and obtain customer feedback.

Unless you are one of the millionaire marketers around – you will find many myths that you follow and potentially lose money on.  Hopefully the ones above have helped you.

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Lee Lister, writes as The Biz Guru, for a number of web sites including her own www.BizGuru.us and www.clikks.com where she sells her informational products. With over 20 year’s management and business consultancy experience with businesses large and small as well as being a serial entrepreneur, she now helps others set up, develop and market their businesses.

He had $10,000 to invest and was happy with an interest rate of 5.75%. The best “at call” rate he had found after much research with financial institutions. He was after a safe investment during these uncertain times.

My other friend responded, “I wish I had the spare $10,000 to invest in the first place!”. He went on to say that how difficult he found it to save any money after paying his bills each week. (Something you hear all the time)

We got out the napkin and a pen and looked at the situation. He had put all his efforts into running around to get an extra 0.25% on his money!

So instead of getting $550 in interest on his ten grand for the next 12 months, he would now be receiving $575…. Big deal….

An extra $25 for the year! He probably spent that much driving around and in phone calls.

What a waste of time and energy if you think about it!

My other friend on the other hand would love to have an extra $10,000 to invest. However, his day job does not allow him to save enough to “get ahead”.

But…. He possesses a crucial ingredient that can earn the extra money he desires…. The ingredient is…. His “spare time”.

Without changing or giving up your “day job”, asking for a pay rise, or finding a second part time job….
The average PC literate person can earn a substantial extra income from home just by selling simple information products they create themselves based on what they “already know” and all in their spare time.

Marketing information…. Information people want, in the form of ebooks, ebooklets, special reports, audio tapes, video’s and CD-roms is still the best home based Internet business you can start.

It’s as true today as it was four years ago on the Internet.

People often ask me if it is really possible to earn decent money on the Internet if you only have a few spare hours in a day to devote to your online business. Surely the law of business prohibits you from “gaining a lot for very little”?

Here is the key that many people new to online business MISS….

You might only work 2 spare hours a day on your little Web business BUT your Web business (your website) WORKS FULL TIME 24 hours a day for you!… This is the reason why it does not take much of your time and yet can return far more than an hourly wage for the ACTUAL hours you put in.

Having a well-constructed website that sells for you 24 hours a day, 365 days a year on “autopilot” is like having an “electronic employee or salesman” working for you and presenting your product perfectly every time.

It’s a business that works unmanned… Like a shop that never closes.

But you know…. It’s not just the money you make, it’s about establishing something else….A “safety Net” in hard times….

A small insurance policy should the worst happen.

Nobody can retrench you from your own business. A business that can never go broke either…. You can even set up a free website and perform zero cost marketing promotions. Zero overheads. Maximum profits.

That’s how I started and you can do the same.

Even in hard times…. War, Anthrax scares, recession, have not effected my online business. Sales may not have increased, but they have not declined.

You may also think that you need “talent”, writing skills and a certain level of education to succeed in running an online information product business. Not so, the world is full of educated and talented failures. What you do need however is “persistence” and a dogged determination to succeed.

So if you don’t have spare money to invest, like my friend did, don’t worry, 12 months from now you will have much more than my other friend who has invested his money to earn a measly interest of $575!!

You could have the same $10,000 plus an ongoing income from investing your “spare time” instead.

So next time you put your feet up in your spare hours, consider investing some of those hours up online!

These undervalued marketing opportunities are not the end-all be-all but are great supplemental channels, that compliment strong online marketing campaigns.

Buyers Guides
Many print magazines offer free listings in buyers guides. Buyers guides typically have a long shelf life and are viewed as a product resource, meaning it is one of the first places consumers look when wanting to purchase an item. Often magazines will include product reviews or sponsored placement in a buyers guide. Typically the standard listing is free, but optionally vendors can increase their exposure by adding listings in additional categories for a nominal fee. Regardless the free listings are a great value and worth pursuing.

Product Reviews
The impartial overview from a credible source can spark product interest. A third party independent review of your product or service is seen as a vote of confidence. Invite publishers or even bloggers to review your product or service.

When requesting a review, it is proper net etiquette to always provide the reviewer an evaluation product free of charge. After the review, be sure to thank the reviewer and if appropriate, link to the completed review.

Forums/Volunteering in Communities
Offering your time and expertise will establish expertise and knowledge in a specific industry. Participants who participate in forums have a genuine interest and are a great target audience. Posting helpful information rather than blatant product advertisements will enhance an image.

Article Syndication
Writing quality informative and educational articles will also establish expertise. Articles also educate users about related product or service. Generally educated users require less technical help and are an easier sale because they understand how the people or service will help them.

RSS Feeds
Provide content in an RSS feed. While RSS is becoming very popular there are still a number of industries and sectors where very little content is available via RSS feeds. Placing quality content in an RSS feed and being “early to market” will help your company shine.

When small businesses compete with big businesses there are a number of areas in which they can compete effectively. As more businesses turn to the web as an advertising model, it is important that marketers and businesses define themselves by giving themselves every opportunity to be found. Utilizing undervalued marketing opportunities will separate online successes from failures.

The best way to gain free web promotion is through the use of press releases, which highlight upcoming news, events and headlines regarding your company.  In order to write an effective press release, your business must be involved in something noteworthy.  Whether it be a contest, a grand opening, a special sale or other event, a press release is the perfect way to advertise your business happenings for free.  There are a number of press release submission websites, which allow business owners to submit their news for free.  In addition, submitting your press release to newspaper and magazine editors may increase your chances of being published both online and in print.  Before sending a press release, which should be no more than one page in length, make sure that your name, mailing address and telephone number is included at the top of the page.  Many editors require that contact information be present before they will even consider publishing a press release.  The reasoning behind this is to confirm the identity of the person submitting the news.

Web promotion can perhaps best be utilized through successful positioning on internet search engines.  By making sure that your website content is rich with information, links and updated information, search engines will be more likely to position your site among the top ranks.  In addition, a descriptive website will also find it’s way to the top.  For example, if your business deals with collectibles, make sure that your content is rich in keywords dealing with collectibles and the product line that you offer.  Avoid stuffing keywords, but make sure that your website clearly indicates it’s subject matter.

One of the best avenues for web promotion is through article marketing.  While many website owners are still somewhat unfamiliar with this approach, others are cashing in on a surge of traffic generated from properly marketing their articles.  The key to successful web promotion via article marketing is to write an informative article that everyone will want to read.  At the bottom of the article, include a brief paragraph featuring your name, the name of your business and a website address.  The next step is to submit your article to as many article directories as possible.  The more exposure, the better.  As other webmasters log on to article directories in search of content for their website, they may select your article to be featured on their site.  The more webmasters that feature your work, the more free web promotion your business will receive.

There are a number of ways to acquire paid marketing opportunities and an equal, or greater, number of ways to get free web promotion.  If done correctly, web promotion doesn’t have to empty the entire expense account.  In some cases, it won’t even cost you a cent.

Just in case you are not familiar with Digital Point (DP) forum, it is a great place for Internet marketers, bloggers, programmers, investors and technical personals. You will find heaps useful information, bargain deals on web sites, domain names, and link/advertising.

Update: The auction ended with the site being sold at BIN price of $15.

Trap1: Presumption that Everybody Needs My Product or Service

Unfortunately, most people don’t believe that they do need a particular service of product.  Obviously with items such as Ipods – your teenager children will try and tell you they really, really, really need one, but this is peer pressure that has been built up with millions of dollars.  Much of this was spent on research into what there market wanted – and they got it right!

If you believe this then you also believe that you can succeed without doing much marketing or selling.  Unfortunately, despite what some marketers tell you – it does not happen that way.  Undoubtedly there some very successful marketers around, but they will all admit that a great deal of market research, testing and reviewing of their offerings – happened before they became successful.

Building a successful business is hard work – most of it devoted to finding potential customers and then matching them with your products and services.  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 – because you can bet your last dollar – that where there a lots of potential customers – there are just as many sellers.

To avoid trap 1:
•    Do your homework – find out where your potential customers are, what particular needs and desires they have and what they are seeking to solve these.
•    Look for a narrowly defined niche market where your product or service will solve a unique need of the customers.
•    Design your product or service to meet these needs.
•    Test, Change, Test, Refine, Test and obtain customer feedback.

Trap 2: People buy a product at the cheapest price they can find.

That is not true – if it was then companies like Rolex and would not exist – Timex would have put them out of business a long time ago.  Despite the ease of research that the internet affords – buyers are generally lazy and don’t undertake full research.  Even on eBay where it is far easier to check the relative prices of a product – people often buy a product at a higher price than they could.  So what causes people to buy?  These are called buying triggers – the most common are:

•    Confidence in the seller
•    A high perceived value
•    Recommendations
•    Ease of purchase

To avoid trap 2:
Establish your credentials – for example we have over 20 years of business consultancy experience – so we know what works and what does not work in a business.

Find ways of enhancing the perceived value of your product or service by adding extras or clearly demonstrating the value of it’s purchase.

Ensure that you include some actual recommendations within your sales letter.
Make it easy to purchase and receive your product by not introducing any barriers to purchase such as extra forms, obscure or complex payment methods.