So your
most fierce competitor has declared war on your little web site.
He has more money than you do and he's always on top of you
in the search engines.
First,
don't give up! Most people who give up do so just before they
were about to succeed. Chances are you can outsmart your
competition! He or she is used to buying their way out
of trouble. With your brain and some good advice you can overcome
everything your competitor can throw at you. The Internet is
known for levelling the playing field. It gives the little guy
a chance to compete with the big guys. You can react faster
and you are less concerned about your image.
Step
back. Re-evaluate your promotion.
Go to
your competitor's site and see what he or she is offering. If
you both offer different but similar products, then there is
something really nasty you can do. I mean you have to be really
underhanded and sneaky to do something like this. Please
don't use it on an innocent or weak competitors. I'm only telling
you this because I feel compelled to give you all the information
that works, and this does work. I don't like it. But it works!
Only if your competitor is mean and has been slandering you
and your product should you resort to something this low:
Buy
a small inventory of your competitor's product and offer it
on your website too. But make sure you put a comment below it
worded something like this:
| Dear Customer.
We are only offering this product because we bought some
excess inventory from a competitor. But in our personal
opinion, this product is inferior to our other products.
It works and there is nothing wrong with it. It's just not
as good as our other products. |
Now
a certain portion of the people who visit both of your sites
is going to read that and they will feel very silly ordering
the "inferior" product and will have no choice but
to buy from you instead.
I
am not a lawyer! If you are going to do something like
this, please check with someone knowedgable in law. I know it
works. It was done to me once and it felt horrible and there
was nothing I could do about it. I almost threw in the towel
at that point. But I have no idea if that paragraph above will
land you in hot water. Do not LIE in your advertisements
like my competitor did! Only do this if you really feel your
product is the better of the two. Try to give all the reasons
you can think of to prove it. But don't be surprised if the
manufacturer won't sell the product to you anymore, and be careful
not to say anything slanderous about it. The last thing you
need is a lawsuit at this junction in your career.
Tell
good things about the product too so it isn't completely biased.
Just make it clear you only recommend "your" product.
If your
competitor pulls this trick on you, then you are in hot water.
You might have to change your whole strategy to get out of this
one.
Okay,
so your competitor really isn't that bad. He's just a
guy or lady like yourself trying to earn a living. So what else
can you do to gain a competitive edge?
Start
a review site.
This
one too is kind of a low blow but it works, so I feel obligated
to tell you about it. It's not much different than one of those
television commercials where you see two kids eating cereal
talking about how good it is. I mean, they are paid actors,
aren't they? The only difference is that you are reviewing your
competitors sites too.
Start
a web site that reviews products like the one you are selling.
Advertise this site in addition to your own site. Call it "Top
10 Hair Growth Sites" or something similar. Make sure your
product is the recommended product on the list and give reasons
why it's better than the rest. Give your site 5 stars and all
the rest of the sites 4 stars and below. Then make sure you
include a link to your site so people can buy from you.
If you
really want it to be believable, include a form for people to
review sites of their own, or allow them to "vote"
in some way.
Okay,
so no more underhanded dirty tricks. You should always do this:
Sweeten
the deal as much as you can!
Come
up with all the free bonuses (like informative e-books) you
can think of and throw them at your customer until he is drowning
in freebies. There gets to a point where a customer convinces
himself that he would have to be a complete knucklehead not
to buy your product.
If your
competitor is offering a 30-day money back guarantee, you should
counter with a 1-year money-back guarantee. Don't worry. People
are more likely to return products that come with a 30-day money-back
guarantee than products that come with a 1-year guarantee. If
they didn't like your product, by the time a year rolls around
they've already forgotten about you and your company. If they
did like the product they'll never send it back anyway.
On the
other hand if you offer a 30-day guarantee, it will always be
in the forefront of their mind. They will feel like they have
to make a decision right away. In effect, you're pressuring
them to return your product quickly. "Love it or Leave
it" is the message you are conveying.
A
Note About Money-Back-Guarantees
The
longer the guarantee you give, the more relaxed your
customer will feel about testing it out, and the less
likely anyone will ever be returning your product.
Consider
offering a double-your-money-back guarantee. Be sure
to have funds on hand to give to your customer if he
or she should ask for it. If you have a good product
you will never have a customer redeem your double-your-money-back
guarantee. If you are worried tell them they can get
double-their-money-back after six months, and 100% of
their money back for the first six months of the year.
People don't have six month attention spans, let alone
one year. After six months they will most likely have
forgotten about you and your guarantee altogether. If
they're going to return it, they will do so in the first
six months.
You
will make more money offering a money-back guarantee
than you will by not offering it. Even if you have to
issue some returns, you will make far more sales to
offset it.
|
Write
e-books (downloadable information) that people who buy your
product would be interested in. If you can't write yourself,
hire someone to do it for you. Just search Google for "writers
for hire" and you will find lots of places where freelance
writers hang out. Just post a message about what you want written
and you will get a lot of responses. (Maybe too many! Everybody
wants to be a writer.) Then ask them what they expect to be
paid and have them send you some samples of their writing. You
will have lots of affordable content in no time.
Offer
these products to your visitors for free and sell your customer
on the value of the e-books. Don't just say "Free e-book
tells you how to boost your self-confidence." Spell it
out for them. Give them 10 - 20 bullets about why they have
to have your e-book. Then put a price tag on it. If it cost
you $200 to have the book written, then it's fair to say the
book is worth $200. Of course it will probably be more believable
if you say it's worth $30. It really depends on the value of
the content. If you ask me, the page you are reading now is
priceless.
Spend
as much time promoting the free e-book as you would promoting
your other products. It makes no difference to the customer
that it's free. If it's good information, he'll buy your product
just to get the e-book! It also allows the customer to justify
the purchase in their mind. People like to spend money. They
just don't want to feel guilty about it afterwards. Offering
e-books will definitely catapult you ahead of your competition.
It's also a great idea to tell the customer they will get the
e-book delivered immediately by e-mail or they'll get a password
for downloading the e-book on your website as soon as they order.
This way they can read the e-book while they're waiting for
their product to be delivered!
Track
your sales.
Always
track your sales! What if you advertised in two different places
and you only got one sale? How do you know where that sale came
from? Which source was worth the money, and which one flushed
your money down the toilet? That is the reason so many dot-coms
are failing. They don't know how (or are too big) to track
where their sales are coming from! They flush millions of dollars
down the toilet every day hoping to improve sales. Fortunately
for you, RareHost.com has just the product you need to track
all your sales. Inquire
about it today!
Here's
an idea to make more money...
Find
a product that makes more profit!
Sure,
you can peddle your low-cost product on the Internet and make
$30 per sale. But what about $30 per month? What about $500
per month? Think about services that people need! Think about
services with residual income. Consider writing your own web-based
subscription site that people will pay you to visit every month.
If you are not a programmer, invent an idea and hire RareHost.com
to write it for you.
What,
you don't have any ideas for subscription-based websites?
Okay,
consider partnering up with a company in your area. Who do you
know that will pay you a percentage of every customer you bring
to them? Maybe a local credit card processing company will pay
you %25 of their commissions every month for every customer
you bring to them. This is called residual income. I
used to know a guy who was a fantastic credit card processing
salesman. He would sell one account to a really large company
and then take a three month vacation with the residual income
he was earning. He did this four times a year. Imagine if that
was you! Could you sell one account a week? Always keep your
eyes open for high-profit items to sell. It's just as easy to
sell a high-priced item as it is to sell a low-priced item.
All you have to do is find someone who wants what you are selling.
Or get out there and advertise and let them find you instead!
Advertise
Where Your Customers Hang Out
Find
out everywhere your customers hang out and then find a way to
advertise to them. I'm sure you can find lots of web forums
where your customers discuss their products. Consider signing
up and being a regular of their forums. If it's not against
the rules, put your website in the signature of your posts.
If you are helpful, courteous, and are knowledgable in your
subject, people will seek you out to do business with you. Also
consider buying banner ads on your favorite relevant forums
or websites.
Don't
Be Afraid of Breaking Even
Never
be afraid to break even on a lead source. You might not make
anything acquiring that customer the first time, but the second
time they buy from you won't cost you a thing. Also you can
get lots of word-of-mouth advertising from these customers.
Offer
24/7 Telephone Support!
Customer
service should be your #1 priority. Only web sites that
offer top notch customer service will survive in today's competitive
market place. Do anything you can to keep your customers happy.
They will talk about you anyway, so you might as well make sure
it's all good. When I first bought from Amazon.com so many years
ago the book I bought came with three pages missing. I called
them up expecting an argument or for them to tell me there was
nothing they could do about it. Do you know what they did? The
lady went and got another copy of the book and told me they
all had three pages missing. She said she would contact the
publisher, and do you know what happened? They sent another
copy of the book two days later with all the pages intact and
I received it in three days. They had it reprinted and sent
it Next Day Air! I was so impressed. I have been buying
from Amazon.com for years since and recommend them to everyone
I talk to. Be Amazon.com. Always put your customer #1 and they
will tell everyone about the good experience they had with you.
Upsell
Your Customers
For
crying out loud, don't forget the upsell. You'd be surprised
how many people don't upsell anything. Does McDonald's ever
forget to offer you fries or a drink with your cheeseburger?
Heck no. At least they're not supposed to. Upselling makes McDonald's
a sizable portion of their profits.
On your
order form you should always try to include some relevant and
complementary products. For some reason a certain percentage
of customers will buy anything you put on your order form. I've
never put anything on my order forms that someone didn't buy
sometime. Don't forget to upsell!
Compounding
Effort
I want
to show you something that I like to call compounding profits.
It's really just basic math but most people don't ever think
about it. It excites me every time I think about it so I'm including
it. It will really make you see dollar signs.
There
are three things that determine how much money you make from
your website.
- Traffic
- Quantity of
Sales
- Profit per
Sale
Let's
say for every 100 visitors who come to your site you get 1
sale. This is a very low figure. The industry average for
a poor website is two. But let's just make this easy. Let's
say you only get 1 sale for every 100 visitors and that you
make $30 for every sale.
So
100 visitors = $30 profit.
Now
what if you found a way to double the amount of visitors to
your website for the same cost? You would make $60, right?
But what if you found a way to double your profit too?
What
is 2x2? 4, right? So if you double your visitors and you double
your profit, then effectively you've quadrupled your profit.
200
visitors = 2 sales * $60 = $120.
That's
a lot better than $30, isn't it? Suddenly you're making 4
times the profit and all you had to do was double two simple
factors.
Now
what if you also doubled how many sales you were getting off
of every 100 visitors?
200
visitors = 4 sales * $60 = $240. Just with a little bit of
effort, you've now made 8 times more profit than you did in
the first example. Do you see how compounding works?
Now
what if you quadrupled your sales?
200
visitors = 8 sales * $60 = $480 profit. That's 16 times the
original example of $30 profit.
Okay,
that should be enough to motivate you to take action. Now
go out there and find a way to do it! Or contact RareHost.com
and let us help you.
Be sure
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