We as humans have distinct patterns in how we react to pricing. This knowledge can help us small business owners price our products and services accordingly. The rule of thumb: price your products just below one of the common Mental Price Barriers.
What are Mental Price Barriers? Read on to find out just what they are and how to maximize your profits using this knowledge.
The article also includes information on how to calculate conversion rates which is valuable data to track in order to plan your marketing strategies.
‘Daily Blog Tips’ is one of the most popular marketing blogs in the world. I hope you find this resource from their blog to be a valuable tool in your business!
To communicate effectively through your marketing means to connect with your client at an emotional level. Would you like to know the emotional impact that your headlines have on your target market? Then try out the Free Headline Analyzing Tool called the “Emotional Marketing Value Headline Analyzer“
This tool determines the Emotional Marketing Value (EMV) score of your headline by comparing the words in your headline to words that have been proven by research to conjure up emotional reactions through sound patterns.
Simply enter your headline into the text area, select a category from the drop down menu and click ‘Submit For Analysis.’ You will receive an EMV Score in the form of a percentage along with one or a combination of the following emotional classifications: Intellectual, Empathetic or Spiritual.
I tried with a few recent article titles and received a score of 44.44% for one particular headline that apparently appeals equally to people’s Spiritual and Intellectual spheres; another at 40% with a predominantly Intellectual classification and another scored 50% with a predominantly Spiritual classification. Evidently I’m not an Empathetic writer (smile).
So I’m quite pleased with my results as it’s stated on the site that “most professional copywriters’ headlines will have 30%-40% EMV Words in their headlines, while the most gifted copywriters will have 50%-75% EMV words in headlines.”
Have some fun and give this free tool a try. And if you’re interested in learning how to increase your EMV rating and more, you can sign up for The Advanced Marketing Institute Newsletter and free report here http://www.aminstitute.com/newsletter/index.htm
There are many online marketing strategies that small business owners can utilize. With so many options it can be confusing as to the best investment of your time. Two strategies that are closely tied together and work well together are Social Networking and Email Marketing. These two strategies work hand in hand to grow your list and grow your business. All it takes is 30 to 60 minutes of your time, once a day or every other day to engage with your contacts via Social Networking. If you publish an ezine or online newsletter you can connect this way as often as once a week or as little as once a month via Email Marketing. Either way, consistency is key.
First let’s define these two terms. Social Networking is the use of a website, such as FaceBook to connect with people who share personal or professional interests. Email Marketing is the use of email messages, such as in the form of an ezine, to contact existing and potential customers.
How can you make these strategies work for you? Here are some suggestions you can try using one strategy or a combination of both.
Example 1: You’ve just attended an in person networking event and collected a number of business cards. What to do with all those cards? Connect with those you have had conversations with (you can jot notes on business cards right after an event to help with your follow-up). Was someone interested in your services but not quite ready to work with you? You can request their friendship via social media and keep in touch that way. And/or you can invite those you’ve connected with to sign up for your newsletter.
Example 2: Your upcoming ezine is complete and scheduled to send next week. Post a series of invitations to your social networks to sign up to receive your ezine. Include a teaser of the next issue describing what useful information or special offers they will receive as a subscriber.
Example 3: You have a number of ‘friend requests’ in your social networks. Be selective. Research who is requesting to connect with you. If this person is in your target market then respond with a personal note thanking them for the connection. If it is someone you have connected with previously who is not already on your mailing list and who you feel would benefit from your ezine, then you may also want to invite them to sign up.
With each of these strategies remember, it’s about quality not quantity. Only friend those that you can provide value to. You want to grow your list and connect via social media with people that are in your target market. Be consistent by posting relevant content and educating your mailing list with informative articles via your ezine regularly. And make sure you get permission to connect. With the volume of information we get through social networks and email, no one appreciates your unsolicited messages.
If you are not yet using one or both of these complementary strategies, give them a try. You can attract new and repeat customers, while building loyalty and there are little or no costs associated with either method. (You may incur a small monthly fee for your email marketing, depending on which provider you use.)
Whether you are offering services or products, doing business online is crucial to the success of any business today. Practice these techniques regularly and watch your list of prospects and your business grow.