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Tag: sales

  • 3 Tips to Make Your Content Resonate in Uncertain Economic Times | Entrepreneur

    3 Tips to Make Your Content Resonate in Uncertain Economic Times | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    You probably don’t need me to tell you that right now is a tough time to break through to prospects. Buyers are less inclined to make purchases amid the uncertain economy, their teams have been streamlined, and they’re being forced to work with tight budgets. But instead of seeing this as all negative, isn’t this really when buyers need your help the most? I believe it is.

    The best way to help them is by understanding them. If you learn how buyers are operating today and, as a result, what your sales teams are facing, you can break through. Here’s a little more about what these groups are experiencing and how you can build content experiences with this in mind.

    Related: Your Customers Are Taking Longer to Buy. Here’s What to Do About It.

    What are sales teams facing today?

    In previous years, buyers made purchases in a somewhat sequential order. They might buy and implement Marketo, then entertain the idea of buying and implementing Demandbase once Marketo is up and running. Today, buying habits are different. Since budgets are being squeezed, your buyers not only have fewer dollars to work with, but they’re also being very particular about where that money goes. There isn’t a list of “to-buy items” versus “what do we need now.”

    So, what solutions do they prioritize? The ones that can solve their most pressing problems. This shift dramatically changes what your sales teams need to focus on. Now is the time to get back to basics, clearly articulate your value proposition and present solution-first messaging above all else. Your audience needs to know you understand the urgent challenges they’re facing and that you can provide a tangible way to help them through.

    Rethink your content strategy

    Based on the current climate and buyers’ needs, the content strategies of a year or two ago aren’t going to cut it. You don’t need volume and keyword-heavy pieces; you need content that is useful and engaging. One piece of highly relevant content that draws a buyer in and teaches them something valuable is worth the weight of 40 others that were churned out simply because someone said to do so.

    Revamp your strategy to be about engaging your audience with your content until they’re ready to have a conversation. Make sure the pieces you’re creating resonate with their most urgent problems and will be seen as a worthwhile resource. Also, think through which stage of the journey your buyers become stuck. Is it at the top? Middle? Bottom?

    Review your data to figure this out, rather than making assumptions. If the data tells you that your sales opportunities are primarily stalling in the consideration phase, determine what obstacles buyers are facing at that point, and then build content around it. By doing so, you’ll build trust, which is the first and most important part of a strong customer relationship.

    Related: How to Align Content Marketing With the Buyer’s Journey

    Change up content messaging and delivery

    As you revise your content strategy, pay special attention to how you’re phrasing your email messages. For example, if you’re using a solution like Salesloft, work something like “Here’s some valuable content I think you’ll enjoy” into the cadence instead of the typical “Come do a demo” language. This shows that you care about the buyer’s current situation and understand the problem, rather than being seen as simply trying to push your product.

    If you had just been on a couple of dates with someone, you wouldn’t go straight to saying, “Come live with me.” Similarly, your buyers need to first trust you and find value in what you provide — only then will they want to explore taking bigger steps.

    There’s no one-size-fits-all approach to sales, content messaging or content experiences. Since the economic and business landscape can so vastly change from one year to the next, organizations need to shift their approach to fulfill buyers’ needs and preferences. Marketers can help break through today by shifting their messaging — and how they deliver content — to meet buyers where they are.

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    Randy Frisch

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  • I Pitched 300 People a Day For 1 Year — and Learned This Impactful Entrepreneurial Lesson | Entrepreneur

    I Pitched 300 People a Day For 1 Year — and Learned This Impactful Entrepreneurial Lesson | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Several years before the pandemic, I was a salesman for a small NYC marketing firm. Our main client was a cosmetics brand, and our campaign consisted of each salesperson canvasing a given territory. Our territories would be whole towns and shopping centers, and our goal was to individually speak to 300 people a day about our makeup products.

    Everyone thought I was crazy for ever taking such a job. In the rain, snow or the blistering summer sun, I was to walk up to every stranger I saw and pitch them. As challenging as this may sound, I managed to get promoted twice, have a team of three direct reports and would consistently rank in the top five of 30 marketers when it came to sales volume generated.

    However, after about a year of this, I plateaued in performance. I often felt burnt out as I ran into mental blocks I couldn’t immediately overcome. Soon my sales performance would drop as a result. In a position that demanded that I maintain a positive attitude, I realized that I was not ready to take things to the next level, so I resigned.

    I came out of that experience as a changed man, but I also knew that my work had only begun. As I introspected, I realized that I had many limiting beliefs and external stressors that contributed to my attitude and how I came across in my social interactions. In particular, my mindset around money and how to acquire it was generally skewed and shaky.

    At the time, I usually lived in a place of scarcity, as I believed that people and money were things to chase after and hustle for. As a result, the way I spoke to people and generally carried myself directly reflected these beliefs. I would always wonder why I would have to do twice the work to get the same results top performers would get. It wasn’t until I got my next sales position that I got the mindset shift I needed to skyrocket my sales volume.

    Related: Harnessing the Power of Positive Thinking to Grow Your Business

    When you change how you look at things, the things you look at change

    As a sales professional, you must know that your clients and customers only buy from service providers they know, like, and trust. They need to be sold on you as an individual or brand before they ever buy your products.

    It is also common knowledge that our attitudes are contagious in the presence of other humans. In our brains, we have mirror neurons that pick up different emotions that others experience, leading us to mirror and share these same emotions in an unconscious empathetic response. That said, it is of the utmost importance as sales professionals and entrepreneurs to be mindful of how we carry ourselves and take inventory of the many factors contributing to how we show up for others.

    From my later experiences as a meditation teacher and life coach, I’ve found that sales professionals typically act from one of three levels of consciousness:

    1. Inactivity
    2. Hyperactivity
    3. Integrity

    Inactivity

    Inactivity is the mindset where you’re overwhelmed with negative emotions and insecurity to the point where you don’t take action. I was in this state of mind towards the end of my canvassing job. I burnt out so severely that most of my interactions with others became awkward, forced and robotic. I’d get little to nothing done as no one trusted me, not even myself.

    Hyperactivity

    Hyperactivity is the mindset that I’ve found most sales professionals live from. We adopt a hustler mentality from this energy space, chasing after people and money purely for our personal gratification. We see others as a means to an end; each prospect and lead we have is simply a number we must get through to see if they will pay us.

    From a place of hyperactivity, our interactions come off as impersonal and disingenuous, as our selfish desires prevent us from truly connecting with our prospecting clients. We may also come off as manipulative and shady, for we tend to do whatever it takes to make a sale.

    Hyperactivity was the mindset I was in at the height of my canvassing job. I was only ever playing a numbers game with people and never looked to connect with them genuinely. As a result, I would often have to speak to twice as many people to get the same results as those who moved with more integrity.

    Related: The 10 Traits Every Good Salesperson Has in Common

    Integrity

    When a salesperson acts from a place of integrity, they realize that there is an exchange of value when a sale happens. For that exchange of value to take place, the salesperson must take their focus off of their individual needs and place it on the needs of their client. In effectively understanding our clients and prospects, being a salesman becomes more about providing excellent service and aligning their needs with our offerings. Because our clients now feel seen, heard and understood, they are much more likely to give us their money than a hyperactive hustler.

    To live and do business from a place of integrity, we must take inventory of what’s causing us to show up without it. We often carry limiting beliefs about people and money stemming from childhood, past bad experiences and our current financial situations.

    Perhaps it’s time to find a good mentor if you live in hyperactivity or inactivity. It’s from mentorship that I broke free from my limiting thought patterns, for my mentors helped me become aware of my blind spots. In becoming more self-aware, I would naturally find higher principles to live and do business by.

    May we find our lives to be much more prosperous in understanding that doing business means being of service to the human nature of others.

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    Jonathan Brierre

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  • Focus on These 3 Key Areas to Overcome Sales Challenges | Entrepreneur

    Focus on These 3 Key Areas to Overcome Sales Challenges | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In any business, there’s always room for improvement. This is especially true when a recession seems imminent and companies must adapt to unfavorable economic conditions. Because systems, processes and operating units have a way of taking on a life of their own, they often leave leadership teams struggling to find the right means to improve overall business performance.

    Sales Xceleration’s data strongly suggests that sales, in particular, pose a problem for organizations, with 89% of small and midsize businesses reporting difficulties arriving at a sales strategy. The same is true for sales analysis, with 89% grappling with goals, quotas, incentives, sales team metrics and other elements. However, it’s not all bad. Determining how to overcome sales challenges can often be accomplished by focusing on recent organizational trouble spots. Prioritize the following areas:

    Related: Here Are 5 Trends to Watch Out for in Sales and Marketing in 2023

    1. Take a second look at onboarding sales reps

    A successful onboarding process and ongoing training strategy can increase employee engagement and equip team members with the knowledge and skills to excel in their jobs. It also provides the opportunity to familiarize new hires with the organization’s policies, benefits and processes, ensuring that their behaviors and actions align with expectations and contribute to the overall objectives of the company. According to Harvard Business Review, employees who have a positive, formal onboarding experience even have a 50% increase in retention and a 62% increase in new-hire productivity.

    Despite these benefits, Sales Xceleration data indicates that 67% of organizations aren’t onboarding sales reps with any formalized structure. This just opens businesses up to unneeded risk. For one, new hires enter their roles without a full understanding of the job — nor do they know exactly what success looks like in that role, which can harm productivity and lead to poor customer service. Given enough time, your business can easily begin to experience customer churn and a hit to the bottom line.

    New hires may also question the value of their roles and wonder whether they will advance their career goals. Employee satisfaction and morale will take a nosedive. And what was once viewed as a long-lasting career will be anything but, and you’ll probably see high turnover rates with new hires.

    The fix is actually quite simple: Initiate a plan for onboarding sales reps. Set clear 30-, 60- and 90-day goals. Communicate the plan in writing, making sure everyone understands the process, standards and expectations prior to starting. Then, it’s just a matter of checking in with new hires regularly, maybe every month, until they start working independently. As the market for top talent — particularly sales talent — becomes more competitive, onboarding and development will only become more critical.

    2. Reassess roles, responsibilities and sales resources

    When everyone knows what they’re supposed to do and what’s expected of them, the workplace becomes more productive. In these environments, employees know how to behave and where to focus their attention. Less desirable tasks are no longer delayed until they create issues. Because responsibilities are clearly defined and assigned, collaboration comes much easier. In general, everything gets done on time. This clarity permits businesses to save energy and resources, experience fewer redundancies and avoid confusion about the next steps.

    Unfortunately, organizations often fail to communicate expectations clearly enough to enjoy these benefits. In fact, Sales Xceleration data indicates that 57% of organizations don’t have sales resources, roles and responsibilities defined in writing. Again, this opens them up to risk — so much so that it could damage business. Every role in small and midsize businesses is essential. If even one sales employee is struggling, business objectives will become more difficult to achieve.

    To correct deficits in this area, start by documenting sales processes so that few questions remain about the customer journey, the key milestones to watch for and the ways processes correlate with buying behaviors. Communicate your goals and key performance indicators, and make sure to add these to employees’ compensation plans. Performing regular performance reviews is also important.

    Related: How to Set Expectations and Get the Performance You Want From Your Team

    3. Address any sales skills gaps

    Though it might seem obvious to address skill gaps, Sales Xceleration’s data indicates that 92% of organizations fail to do so when gaps are discovered. This aligns with findings by the National Society for Leadership and Success, which argues that the workforce at large is experiencing a skills gap crisis. In sales, this has the potential to be catastrophic: When sent out into the market without the knowledge or abilities to share what makes a product or service unique, untrained sales reps will very likely cause business to suffer.

    Focusing more attention on how to train sales reps can help. If no onboarding plan is in place, prioritize creating one. You must understand what inspires team members to do their best work and make sure the employee experience is a good one. Doing so will allow sales reps to grow and encourage them to stay with your company. Utilizing a learning lab could also help move the needle in the right direction. Ensuring your sales reps have the right skills can make a big difference in their production. According to RAIN Group, top-performing sellers are 33%-120% more likely to have account management skills, and sellers with advanced consultative selling skills are almost twice as likely to be top performers.

    Still, proper training also needs to be aligned with goals. To provide direction for sellers’ efforts, it is extremely beneficial to set professional development goals for sales reps. This is also key to correcting sales skills gaps when discovered. When salespeople aren’t made aware of problems, they have no means of taking the necessary steps to improve.

    It can be difficult to know how to overcome sales challenges. While not all companies have issues onboarding sales reps, defining responsibilities or correcting skills gaps, these areas have become increasingly problematic in organizations. Regardless of where your company’s difficulties lie, it’s critical to look at the processes already in place and determine whether they’re working for the business and the sales team. This might reveal problems no one knew existed but could be fixed.

    Related: 10 Research-Backed Ways to Improve Sales Success

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    Maura Kautsky

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  • How to Create the Ultimate Virtual Sales Event | Entrepreneur

    How to Create the Ultimate Virtual Sales Event | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    In today’s digital age, businesses are harnessing the power of virtual sales events to drive growth. I’ve personally generated over a million dollars in revenue through live virtual events I call challenges on Zoom, attesting to their effectiveness. These types of online gatherings, ranging from webinars to virtual trade shows, offer a global reach, making them an essential part of many businesses’ sales strategies.

    According to Grand View Research, the global virtual events market size was valued at $77.98 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 23.2% from 2020 to 2027. This statistic underscores the growing importance and potential of virtual sales events in the business landscape.

    Related: The New Opportunities That Virtual Event Are Bringing to Businesses

    Planning and execution

    The success of a virtual sales event hinges on strategic planning and execution. Start by defining the event’s purpose. Is it to introduce a new product, educate potential customers, generate leads, or build brand awareness? A clear objective will guide the planning process and help determine the most appropriate format for the event.

    Next, consider your target audience. Understanding their needs, interests and online behavior will help you tailor the event to their preferences, increasing the likelihood of engagement. For instance, if your target audience is tech-savvy millennials, incorporating interactive elements such as polls, Q&A sessions or virtual reality experiences can enhance their engagement.

    Choosing the right technology platform is also crucial. The platform should be user-friendly, reliable and capable of supporting the features you plan to include in your event, such as live streaming, chat functionality, or virtual booths. Additionally, it should provide analytics tools to measure the event’s success.

    Related: 5 Ways to Keep Engaged During Boring Virtual Meetings

    Engaging customers

    Engaging customers during a virtual sales event can be challenging, given the distractions of the online environment. However, there are several strategies you can employ to keep your audience engaged.

    Firstly, deliver valuable content. Whether it’s a product demonstration, an educational webinar, or a panel discussion, ensure the content is relevant and valuable to your audience. Use storytelling techniques to make your content more engaging and memorable. For example, share success stories of clients who have benefited from your product or service.

    Secondly, encourage interaction. Interactive elements such as live chats, polls and Q&A sessions can make your audience feel involved and maintain their interest throughout the event. You could also consider gamification strategies, such as quizzes or competitions, to add an element of fun and increase engagement.

    A survey by Bizzabo found that 93% of event marketers plan to invest in virtual events moving forward. This statistic highlights the recognition among marketers of the value of engaging customers through virtual sales events.

    Leveraging technology

    In the era of remote work, technology plays a crucial role in the success of virtual sales events. From the platform used to host the event to the tools employed for audience engagement, technology can enhance the event experience for both the host and the attendees.

    For instance, using a reliable and user-friendly platform like Zoom can ensure a smooth and seamless event experience. Zoom offers features like breakout rooms for smaller group discussions, virtual backgrounds for a professional appearance and recording options for those who might miss the live event.

    Tools like chatbots can also be used to answer common queries, freeing up your team to focus on more complex questions. Polling and survey tools can be used to gather real-time feedback, helping you understand your audience better and make necessary adjustments.

    Related: Budget Planning And Execution Tips For Virtual Events

    Measuring success

    The success of a virtual sales event is not just about the number of attendees or the immediate sales generated. It’s also about the relationships built, the brand awareness created and the potential leads generated for future sales.

    To measure the success of your event, consider metrics like attendee engagement (e.g., participation in polls or Q&A sessions), the number of new leads generated and the conversion rate of these leads into customers. Also, consider the feedback received from attendees. This can provide valuable insights into what worked well and what could be improved in future events.

    Conclusion

    In conclusion, virtual sales events offer a powerful strategy for business growth in the remote era. They provide an opportunity to reach a global audience, engage customers in a new and exciting way and generate leads and sales. However, to leverage these events effectively, businesses need to plan carefully, engage their audience, leverage technology and measure their success.

    As someone who has experienced the power of virtual sales events firsthand, I can attest to their potential. With the right approach, these events can drive sales, build stronger relationships with customers and create a sustainable model for business growth.

    In the end, the success of a virtual sales event lies not just in the technology used or the sales techniques employed, but in the value provided to the attendees. As the saying goes, “People don’t buy what you do; they buy why you do it.” You can ensure that your virtual sales events succeed by providing valuable content and a memorable event experience.

    Moreover, the shift to virtual sales events is not a temporary trend but a reflection of the changing business landscape. As more businesses embrace remote work, virtual sales events will continue to play a crucial role in sales strategies. Therefore, mastering the art of hosting successful virtual sales events is not just beneficial but necessary for businesses to thrive in the digital age.

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    Joel Yi

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  • Amazon Uses These Psychological Tricks To Take Your Money on Prime Day | Entrepreneur

    Amazon Uses These Psychological Tricks To Take Your Money on Prime Day | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Brace yourselves, dear navigators of the e-commerce maze, as we embark on an exploration of the monumental spectacle of retail that is Amazon Prime Day. Much like the gladiatorial combats of ancient Rome, it’s a thrilling spectacle fraught with both promise and peril. And it’s your cognitive biases that often play the role of both the lion and the gladiator, pitting you against yourself in a fierce battle of wit and will.

    Trap 1: The confirmation bias chimera

    Picture this: you’re browsing through Amazon’s tantalizing offerings and you stumble upon a particularly appealing set of steak knives, which you’ve convinced yourself are just the upgrade your kitchen deserves. Never mind that you’ve managed perfectly well with your current cutlery for years, the deal seems too good to pass up.

    This, my friends, is the confirmation bias chimera, rearing its misleading head. In this case, confirmation bias leads you to seek and believe information that supports your existing predilections, while ignoring anything that contradicts them. Suddenly, every review sounds like an ode to these new knives, all the while downplaying the possible utility of your old set. The antidote? Simple: approach each deal with an open mind, always willing to challenge your preconceived notions.

    Related: You’re Probably Falling for All of Amazon Prime Day’s Psychological Sales Tactics. A Marketing Professor Reveals Them — and How You Can Actually Get the Best Deal.

    Trap 2: The attentional bias abyss

    Clicking through the alleys of Amazon’s discounts can sometimes feel like trying to find a needle in a haystack, only for the haystack to be filled with dozens of distracting shiny objects. This is the attentional bias abyss, a trap that lures you into focusing only on aspects that catch your fancy while sidelining the not-so-glitzy details.

    Your eyes light up at the sight of an enormous discount on a flashy 4K TV, but fail to register the hefty fees for peripherals, or perhaps the inferior brand reputation. The way out of this abyss? Be a vigilant explorer. Make it a point to scrutinize every detail before you click “Buy Now.”

    Trap 3: The anchoring bias albatross

    Who hasn’t fallen for the classic “discounted from a staggering price” trope? You see a blender originally priced at $200 now selling for $100, and you’re convinced it’s a steal. This is the work of the anchoring bias albatross, forcing you to base your judgments and decisions on the first piece of information you encounter.

    But what if the blender’s real value is closer to $80, and it’s been artificially inflated to trick your cognitive biases? The defense? Make sure you do your market research before Amazon Prime Day arrives. Knowing the true worth of an item can keep the albatross at bay.

    Related: 3 Ways New Amazon Sellers Can Stand Out From the Crowd on Prime Day

    Trap 4: The loss aversion leviathan

    The loss aversion leviathan feeds on your fear of missing out. The Prime Day deal will disappear on July 12! The ticking clock nudges you into a hurried purchase. You’d rather not risk the regret of missing out on the deal, even though you don’t truly need the item.

    The beast of loss aversion leads you to value the avoidance of losses over equivalent gains. After all, the sting of losing $10 often feels stronger than the joy of gaining the same amount. The weapon to slay this leviathan? Practicing self-restraint. Remember, there will always be another deal, another discount, another Prime Day.

    Trap 5: The optimism bias ogre

    Finally, we come face-to-face with the optimism bias ogre, the creature that convinces you that everything will work out in your favor. It’s the force behind your belief that the laptop you’ve just bought won’t turn out to be a dud, or that the designer dress you’ve ordered will fit you perfectly.

    But the ogre’s optimism can lead to disappointment and unnecessary expense. Don’t let the optimism bias cloud your judgment. Make sure to thoroughly research products, read customer reviews, and double-check your sizing before making a purchase.

    Conclusion

    Avoiding these cognitive traps on Amazon Prime Day requires both awareness and strategy, but with these tools in your arsenal, you can conquer the event like a seasoned gladiator, with your wallet — and your sanity — intact. Step forth into the arena, armed with the knowledge of your cognitive biases, and claim the spoils of retail victory!

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    Gleb Tsipursky

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  • 5 Sales Call Mistakes That Are Costing You Coaching Clients | Entrepreneur

    5 Sales Call Mistakes That Are Costing You Coaching Clients | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Before I became a business coach, I spent a year as a Director of Sales, helping scale a multi-seven-figure coaching business with one of my best friends.

    Our team took hundreds of sales calls every month, and each week, I would study them to figure out what we did well and how we could improve. Along the way, I discovered a few big mistakes we were making that decreased the chance someone would buy from us by 50% or more.

    If you’re a coach who sells a high-ticket program over the phone, avoiding these mistakes is a proven path to signing more clients, increasing your income and making a bigger impact through the work you do. I only wish I would have discovered them sooner.

    Let’s dive in…

    Related: The 5 Best Actions You Can Take to Improve Sales Calls

    Mistake #1: Selling with the wrong intentions

    A coach recently reached out to me because he was struggling to grow his business and wanted help.

    I asked him, “What do you do before every sales call?”

    He said, “I pump myself up and tell myself — ‘I know I’m going to close this deal.’”

    It’s no surprise to me that he was having trouble.

    Imagine you’re going out on a first date. Do you want to have dinner with someone whose goal is to sleep with you later that night?

    Probably not.

    Your potential clients feel the same way. Nobody wants to get on a sales call with someone who wants to “close” them.

    What people do want is an advocate — someone who can show up in the heart of service, unattached to making a sale, focused instead on figuring out how to get them what they want.

    Don’t show up to a call trying to close the deal. The less attached you are to making a sale, the more likely it is to happen.

    Mistake #2: Not listening enough

    My top sales reps spent up to 80% of their calls asking questions and listening. My less experienced reps spent far more time talking, pitching, convincing and, in general, running their mouths.

    For someone to want to work with you, they need to feel seen, heard and understood. You do this by listening, not by talking.

    When in doubt, ask more questions. The more time you spend talking, the lower your close rate will be.

    Mistake #3: Pitching the process

    Your prospects don’t care that much about the nitty-gritty details around working with you.

    What really matters to them is…

    How will my life be different after we work together? And will this be worth the pain of hiring you?

    My average sales reps would overwhelm prospects with details about our program, dragging them into the weeds of how we could help them and what every step of the process would look like.

    On the flip side, my best sales reps pitched very differently. They focused primarily on outcomes and results instead, painting in vivid detail what someone’s life would look like after working with us. This was far more effective.

    Related: 6 Simple, Proven Methods to Improve Your Sales Skills

    Mistake #4: Pushing for the close

    People value freedom and autonomy above everything else. Your prospects want to feel in control during the sales process — like they have the power to determine how and when things happen.

    Sales pressure threatens this freedom and autonomy. When you try to force someone, however subtly, into taking a step they’re not yet ready to take, you’re trying to take their freedom away. This is why people hate sales pressure and why it will almost always doesn’t work.

    My best sales reps were intuitive and attentive on calls. Rather than defaulting to going for the close, they felt out where someone was at and whether or not they were ready to commit. Sometimes the people they spoke to were right there and just needed a little nudge to enroll. Other times, they sensed someone wasn’t ready and allowed them more space and time to process and think things through. This approach is much more effective.

    Mistake #5: Being their friend instead of the leader

    My average sales reps would spend up to ten minutes building rapport on calls — talking about someone’s family, where they grew up, what they did this past weekend, etc.

    My top reps didn’t waste this time. They’d spend a minute or two with casual chat, but then they would get down to brass tax.

    Being overly focused on building rapport usually comes from a place of neediness. It’s something you do when you’re trying to impress someone.

    The message you’re sending people when you do this is, “I need to convince you to like me.” This actually repels prospects, rather than attracting them to you.

    Instead, show up to a call focused on what someone came there for. If someone reached out to you, it’s because they need help. They don’t want to spend ten minutes talking about the vacation they just went on. They want you to take the lead, figure out what’s going on and how you can help. So, get to the point instead.

    If you can avoid these mistakes, you’ll sidestep the biggest issues that kept my team stuck and increase your close rate immediately. That means more coaching clients, more income and a bigger impact on the lives of your clients.

    Remember that sales is a skill that you can develop with practice over time. I’d encourage you to do so, as it will have a huge impact on your success.

    Happy selling!

    Related: I’ve Conducted More Than 500 Sales Calls Over the Past Few Years. Here Are 5 Tips for Having Better Sales Conversations.

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    Jason Moss

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  • Prime Day 2023: How New Amazon Sellers Can Stand Out From the Crowd | Entrepreneur

    Prime Day 2023: How New Amazon Sellers Can Stand Out From the Crowd | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    While Prime Day has become a staple for bringing masses of customers to Amazon for fantastic deals, Amazon sellers know that translates to more competition for them to get their deals found. That means, having your Prime Day deals featured on Amazon’s crowded Prime Day landing pages is difficult for established big-name brands, let alone new Amazon sellers.

    New Amazon sellers can’t rely on the on-Amazon placements to get their Prime Day Deals seen by customers.

    That said, every year, new Amazon sellers succeed on Prime Day because they’ve learned that the true key to driving Prime Day sales is off of Amazon and not on Amazon. As a new Amazon seller, these are the three most important things I recommend as an Amazon consultant to focus on to stand out from the crowd on Prime Day.

    Related: How Amazon Sellers Can Drive More Prime Day Sales

    1. Amazon Influencers

    Prime Day has been a staple for consumers since it began in July 2015, which means consumers are ready ahead of time, researching deals on items they want to buy on Prime Day. Where do they go to research? They go to the number one and number two search engines in the world — Google and YouTube, respectively.

    Leading up to Prime Day, consumers search Google and Youtube for “best Prime Day deals on (insert product or product category here)” and also read articles on Google News, Apple News and Flipboard about the same. Your customers are trying to find out if what they want to buy will be on sale on Prime Day. So, let them know.

    Your goal as a new Amazon seller to stand out from the crowd is to get in front of customers off Amazon to let them know your items will be on sale on Prime Day on Amazon.

    Here’s how it works:

    1. Do searches on Google and YouTube for “Best Prime Day Deals on (your product or product category). EXAMPLE: “Best Prime Day Deals on patio furniture”

    2. You will get last year’s results and write down all of the websites and YouTube channels that show up prominently. Now you know who covers Prime Day for your space.

    3. Follow them on social media, engage with them, then reach out to them and let them know about your Prime Day deal.

    There’s an added benefit here, too — since we know Amazon likes it when you drive external traffic, this helps boost your on-Amazon SEO as well. What’s more, partnering with Amazon Influencers is a great way to increase sales on Amazon all year round.

    2. Social media advertising

    You’re likely already driving traffic from social media ads to your Amazon Store and product detail pages using Amazon Attribution links. If you’re not, you should be.

    That said, you’re going to want to have your audience targeting dialed in leading up to Prime Day. Since you won’t have the visibility on Amazon to promote your deal, you’ll need as much visibility off of Amazon as you can get.

    Here’s how it works:

    1. Prepare videos and images showcasing what your product is, what the savings are on the deal and how your customer would benefit. Don’t forget to add a sense of urgency letting customers know this is only for Prime Day.

    2. Run the ads to your audiences that you’ve created for brand awareness. This is the time to venture out past buyer intent targeting and cast a wider net so you reach potential customers who wouldn’t normally try a new brand.

    3. Use your Amazon Attribution link so you can get up to 10% cash back for the sales you drive to Amazon from the Brand Referral Bonus program.

    Don’t ignore all of the potential off of Amazon when focusing on increasing product sales on Amazon.

    Related: Want to Quickly Increase Your Amazon Sales? Here Are 3 Key Tips from an Amazon Consultant.

    3. Advertorials + native advertising

    Method three combines Amazon Influencers with advertising into one powerhouse of a tactic for new Amazon sellers to stand out from the crowd on Prime Day.

    Advertorials are review articles with click-worthy headlines that do well on Google, Social Media, Apple News, Google News, Flipboard and more. What sounds better? “Hamilton Beach Food Processor Review” or “This $30 Kitchen Gadget Changed My Life?”

    The advertorial sounds better because it pre-stages the customer, evokes fear of missing out and communicates the significance of the benefit of the product that lies beyond the click. The customer is ready to buy before they even read the article.

    Native advertising takes content like advertorial articles and amplifies them out on major publications and platforms with huge audiences among other places. The best part? They look “native” to that major publication or platform — in other words, like articles that are supposed to be on that major publication or platform.

    Here’s how it works:

    1. Partner with nano and micro-influencers on articles like “This Prime Day Deal Will Change How You Garden Forever.” Since you’ll be amplifying the content through native advertising, you can partner with nano-influencers but get mega-influencer reach.

    2. Once the article goes live, amplify it to target audiences enthusiastic about your subject matter through native advertising.

    3. Turn off the native ads after Prime Day concludes.

    Don’t forget to use your Amazon Attribution links in the advertorial.

    Those are the top three methods, but there are a few honorable mentions.

    Honorable mentions

    • Email marketing: Since many new Amazon sellers likely haven’t built up their email lists yet, this falls as an honorable mention, but it doesn’t mean it is any less important. If you aren’t building an email list to promote your Amazon products, you’ll want to start right away.

    • Amazon Storefront: Redesign the above-the-fold section of your Amazon Storefront homepage to showcase your Prime Day Deals.

    • Sponsored Brands ads: Don’t forget to run Sponsored Brands ads to your Amazon Storefront for customers to see your Prime Day Deals.

    • Sponsored Products ads: You won’t want to miss out on customers searching for specific products on Amazon for Prime Day Deals. Show up in product search results with the coveted Prime Day Deal badge by running Sponsored Products ads.

    New Amazon sellers can cut through the noise on Amazon Prime Day by venturing off Amazon and sticking to tried and true best practices to drive their Amazon Prime Day sales.

    Related: How to Increase Your Product Sales on Amazon Today

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    Tanner Rankin

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  • The 4 Stages of Competence in Sales | Entrepreneur

    The 4 Stages of Competence in Sales | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Becoming a master of sales is a journey and a process. And while you learn a lot about yourself and others on that journey … it is not one that everyone persists LONG enough to reach the highest level of competence.

    At that level, even sales calls with the most “difficult” prospects become a powerful opportunity for connection, transformation and value transference.

    As you progress through the four different stages of competence in sales, each stage will bring its own challenges and opportunities for growth.

    This article can help guide your journey toward sales mastery and significantly reduce the time it would take you if you were left to learn every lesson the hard way.

    Related: 5 Ways to Master Sales

    Stage 1: Unconscious incompetence

    Think back to when you first learned how to do something — something that you are now great at!

    In this initial stage, we find ourselves in a state of “unconscious incompetence.” We are unaware of just how bad we are at something.

    In sales, being at this stage means that while you may have a general understanding of the sales, you likely are “winging it” and have no idea why you close some deals but lose many others. OR you may be stuck in analysis paralysis, unsure of what action to take, so instead you are at a standstill.

    Here is where we stay broke and unaware! The first step is to accept that there is room for improvement and that it is important to you (and your business) that you seek that growth.

    Stage 2: Conscious incompetence

    The second stage is where we become painfully aware of the blind spots we were previously unaware of in stage 1. Stages 1 and 2 are really where the majority of entrepreneurs reside.

    During this stage, most experience a sense of frustration or even disappointment in themselves. It really does feel like an uphill battle without guidance, feedback and support. It feels like nothing we do seems to improve.

    In this stage, your attitude makes ALL the difference.

    Be kind but honest with yourself. Challenge yourself to step up to the plate, stretch the limits of your comfort zone, and commit to taking action — more specifically, messy action! Messy action is better than no action.

    Over time, you’ll start to realize that sales is not just about charisma or persuasion; it’s a strategic process that can be learned, practiced and mastered with the right mindset, experience and training.

    Without practice, improvement and adjustments (ideally through proven strategies like working with a sales coach), it is not possible to progress to the third stage.

    Related: 6 Simple, Proven Methods to Improve Your Sales Skills

    Stage 3: Conscious competence

    At this stage, you are taking enough action to start getting the feedback to be able to discern what works and what doesn’t work. It looks and feels like a mental and physical to-do list until you reach stage 4.

    During this stage, you’ll notice that you can navigate the sales process with intention and clarity. However … you still have to actively think about the steps you must take your prospect through, the questions you must ask and how you respond to objections.

    There is still a lot of mental analysis and conscious adjustments needed here.

    Stage 4: Unconscious competence

    The final stage is unconscious competence — the realm of mastery.

    After investing time, effort and countless hours of practice, you’ll reach a point where selling becomes second nature. The well-known 10k hours is the golden rule. However, with training and mentorship, it is easy to cut down this time significantly!

    In the zone of mastery, we no longer need to consciously think about every step or technique. Sales becomes intuitive, and you’ll effortlessly adapt to different types of people, handle all sorts of objections and close deals with ease.

    In this stage, it’s inevitable to feel excited and energized while speaking to prospects and converting leads into sales.

    There is, however, no ceiling to your ability to continue to learn, grow and refine. If you want to actualize yourself more fully in any area of life, it’s largely about embracing a growth mindset to consistently seek feedback and to take action on that feedback.

    At this stage, though, sales feels easy, seamless and effortless — because the effort you put in to get to this stage has compounded and is paying interest.

    Related: 8 Simple Keys to Becoming a Better Salesperson

    The power of action and feedback as you move toward mastery

    Action is crucial — to progress through the stages of competence and ultimately achieve mastery in sales.

    A lot of imperfect action will ALWAYS yield a bigger result than no action.

    It’s essential to take consistent action, implement what you’ve learned and put yourself out there in the marketplace.

    But action alone is not enough.

    Feedback from a trained eye is equally crucial. Just like a GPS provides instant feedback, having a mentor or coach who understands sales can guide you along your journey.

    They can help you navigate potential roadblocks and offer valuable insights that you will not be aware of until you hit that wall around the bend. They foresee the signs and recalculate your path within a blink of an eye.

    The power of tapping into unseen potential

    At each stage of sales competence, there are a few critical adjustments that, when implemented, can unlock your unseen potential and propel you to even greater heights.

    It then becomes about working smarter, not harder.

    Understanding the four stages of competence in sales and each skill set of sales provides valuable insight into your journey of growth as a sales professional or entrepreneur.

    By recognizing where you are on this continuum, you can take deliberate steps to progress toward mastery. And remember, it’s essential to seek feedback, embrace continuous learning and take consistent action in each stage.

    The journey to sales mastery may be challenging, but the rewards are well worth it. Embrace the adventure, and unleash your full sales potential!

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    Nina Concepcion

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  • The Anine Bing Summer Sale Is Officially Here—I Can’t Get Over These Chic Finds

    The Anine Bing Summer Sale Is Officially Here—I Can’t Get Over These Chic Finds

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    I’m a huge fan of Anine Bing. In fact, I basically live in the brand’s sweatshirts and tees. So you can imagine my excitement when I noticed that the summer sale is officially live on the site. I’m talking up to 70% off here.

    To be honest, I’d describe every piece from Anine Bing as chic. So yes, everything included in the sale offering falls in that “chic category.” On that note, I scrolled through the discounted assortment to create an edit of my favorite chic pieces to provide you with shopping inspiration for this season and beyond.

    Keep scrolling to check out the best on-sale items from Anine Bing.

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    Bobby Schuessler

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  • The Liza Koshy 2.0 Takeover Is Here, and We’re Ready for It

    The Liza Koshy 2.0 Takeover Is Here, and We’re Ready for It

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    You voice Arcee in Transformers: Rise of the Beasts. What excited you most about joining the iconic action franchise for this installment, and what can we expect from your character in this film?

    Being approached to be involved in a project that is so globally beloved, such as the Transformers franchise, was so exciting to me, especially after understanding the vision of our genius director, Steven Caple Jr. He is a die-hard fan himself, so he understood what audiences not only wanted but needed in this film at this time by intentionally highlighting a cast inclusive of race, gender, and sexuality. There is something for all fans, both existing and new. I was most excited to hear that the superhero superbabe that is Arcee was featured heavily in this installment. 

    Let’s talk about your overall fashion vision for the Transformers: Rise of the Beasts press tour. What did you want to convey with your looks?

    My assignment was polished, classic, and in the color scheme of Arcee … and I understood it well.

    Tell us about the look you selected for the film’s premiere in NYC.

    This look really spoke to me because, first and foremost, the color red mirrored Arcee’s hot cherry finish. Also, this stunning collection by Christopher Kane was inspired by origami—the traditional Japanese art of transforming paper into different shapes and animals. Like the film, it married the idea of both animals and transformers. The look managed to capture the essence of the film and transformed me into the feminine force I was on the more male-dominated carpet.

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    Jessica Baker

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  • Free Webinar | June 20: How to Build an Instagram Following That Makes You Money | Entrepreneur

    Free Webinar | June 20: How to Build an Instagram Following That Makes You Money | Entrepreneur

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    Want to learn how to harness the power of Instagram to skyrocket your business? Join us for an exclusive webinar featuring Kim Walsh Phillips, founder and CEO of Power professionals, a business coaching company and author of The Ultimate Guide to Instagram, 2nd Edition.

    Kim’s social media journey began with a mere 352 followers, but through relentless experimentation with inventive tactics, she amassed 22,000 engaged followers, resulting in thousands of sales and an elevated profile. In this fun and informative webinar, Kim wants to share her hard-earned lessons that can propel your business forward.

    Prepare to be inspired as Kim reveals:

    • The secret strategies she employed when working with Kevin “Mr. Wonderful” O’Leary that led to a mind-boggling 1000% increase in reach and engagement.

    • Her time-tested methods to leverage your time effectively and maximize your revenue streams.

    • Which Instagram tools she relies on the most to deliver the highest return on investment (ROI).

    • The power of leveraging Instagram ads.

    • Strategies to create powerful partnerships to take your Instagram presence to new heights.

    Don’t miss this opportunity to learn from one of the foremost experts in the field. Unlock the secrets to Instagram success and take your business to unprecedented levels of growth, reach, and engagement. Register now to secure your spot and pave the way for a profitable future on Instagram.

    About the Speaker:

    Kim Walsh Phillips is a self-made MBA free millionaire and the founder of Powerful Professionals, one of the fastest growing companies in America. In less than one year, she went from 32 clients to over 11,000 and has generated over a billion dollars online.

    Named “a must to read by those in business” she is the bestselling author of multiple books including “The Shift: How to Grow Your Business with Multiply Your Wealth Without Sacrificing You” and “The No B.S. Guide To Direct Response Social Media Marketing,” co-authored by Dan Kennedy.

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    Entrepreneur Staff

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  • The 30 Best Memorial Day Sale Items From Nordstrom, Shopbop, Revolve, and J.Crew

    The 30 Best Memorial Day Sale Items From Nordstrom, Shopbop, Revolve, and J.Crew

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    Sale season is finally here. This is the time of year fashion and shopping lovers are flooded with emails alerting us to new discounts from our favorite retailers. For many of us, this is the time of year when we go all out. Maybe you’ve been resisting the urge to splurge on new clothes, or perhaps it’s finally time for a wardrobe update. Maybe you’ve been waiting for the perfect moment to treat yourself to a designer accessory you have had your eye on.

    Whatever you’re shopping for, now is the time to scoop it up. Many of my favorite retailers are having stellar sales. I found some of my favorite designer dresses, shoes from some of the coolest brands, and standout vacation items all marked down. If there’s one thing I love, it’s a good sale. Shopbop, Revolve, Nordstrom, and J.Crew are all offering amazing deals. 

    There really is no better feeling than getting a great piece to add to your wardrobe and knowing you got it for a steal. Not only am I letting you in on the retailers I’ll be shopping at this Memorial Day Weekend, but I’ve also made a list of the items sitting in my cart. 

    Keep scrolling to check out my sale picks.

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    Grace O’Connell Joshua

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  • Tips and Tricks for Captivating an Audience | Entrepreneur

    Tips and Tricks for Captivating an Audience | Entrepreneur

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    You will find, in leadership and in life, that people feel more connected to you and your vision when you ask them to “kick the tires.”

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    Entrepreneur Staff

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  • The J.Crew Weekend Sale Is Major, and These Discounted Items Are Very Chic

    The J.Crew Weekend Sale Is Major, and These Discounted Items Are Very Chic

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    J.Crew has had epic sales lately. And yep, there’s another amazing offering happening over Memorial Day weekend. From now until May 29, you can take an extra 60% off sale styles and 40% off almost everything else with the code WEEKEND. Major.

    To give you some shopping inspiration, I pulled together a list of items I love and think you’ll adore because they’re quite chic. I’m talking about everything from the gorgeous pleated skirt J.Crew’s creative director Olympia Gayot is wearing above to fantastic shirting silhouettes.

    Keep scrolling to shop the best items from J.Crew’s latest sale.

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    Bobby Schuessler

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  • We Found Amazon’s Best Memorial Day Deals To Shop This Weekend

    We Found Amazon’s Best Memorial Day Deals To Shop This Weekend

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    Memorial Day weekend is mere days away, signaling the unofficial start of summer and, for devoted shoppers, one of the biggest sales events of the year. Between dips in the pool, barbecues and general relaxation, it’s the perfect time to splurge on just about everything, including home items, kitchen gadgets, beauty products and even utilitarian everyday products. That said, getting a handle on the sheer volume of available sales can be incredibly overwhelming, which is why we’ve done the hard work for you.

    Below, we’ve rounded up a list of some of the very best, can’t-miss Memorial Day sales at Amazon across every category, including home, design, style, beauty, wellness and more. It’s your one-stop shop for the very best deals currently available at Amazon, and each one is better than the last.

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  • How to Sell High-Ticket Products With Facebook and Google Ads | Entrepreneur

    How to Sell High-Ticket Products With Facebook and Google Ads | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    High-ticket products are the holy grail in the world of sales. Put simply, these products are the ones that have the highest profit margins and can make a huge impact on your bottom line. However, selling such products is no easy task. It requires an effective strategy to generate leads and convert them into loyal customers.

    So, what’s the best way to get potential customers interested in your product and convert them into buyers? Many people turn to Facebook or Google Ads as a solution, but do you have a plan for success? In this comprehensive guide, we’ll walk through the process of lead generation and conversion using Facebook and Google Ads to help you sell high-ticket products.

    Related: The Secret to Making Facebook Ads Work for Your Business

    I. Defining your target audience

    When it comes to selling high-ticket products, defining your target audience is crucial. Without understanding who your audience is, you are essentially shooting in the dark when it comes to creating effective campaigns and targeting the right people.

    Knowing your audience means you have a better grasp of their needs, interests and pain points — all of which you can use to craft powerful ads that appeal to their specific situation.

    Strategies for defining your target audience

    Now the question is — how do you go about defining your target audience? Here are some strategies for getting started:

    • Analyze your customer base: Take the time to analyze your existing customer base. Consider things like their demographics, interests and behaviors to get a better understanding of who is buying from you. This will help you create campaigns that are tailored specifically to this audience.

    • Conduct market research: This goes without saying, but conducting market research is a great way to gain insight into the interests, needs and desires of potential customers. This can include surveys, interviews with experts in the field or even using tools like Google Trends to get an idea of what topics are being searched for.

    How to create buyer personas for high-ticket products

    Once you have garnered enough information about your target audience, it’s time to create buyer personas. This process can help you tailor your campaigns to reach the right people with the right message.

    Start by writing down everything you know about a typical customer. Consider their age, gender, job title, income level, interests and goals. Then go into detail on what type of content they’d be interested in, what their pain points are and how you can solve them.

    Finally, give this persona a name and picture — this will help bring it to life and make it easier for you to create campaigns that genuinely resonate with your potential customers.

    II. Crafting a compelling offer

    Have you ever heard of the phrase, “A great product will sell itself?” While there is some truth to this statement, in reality, it takes more than just a great product — it also requires a compelling offer. Your offer should not only provide value and solve the customer’s pain points, but it must be presented in an attractive way that entices them to click on your ad or visit your website.

    Best practices for creating an offer for high-ticket products

    High-ticket products require a bit more thought when it comes to crafting the perfect offer. Here are some best practices for creating an attractive offer:

    • Create urgency, and don’t oversell: Using things like limited-time offers, discounts or exclusive access can be a great way to create urgency and encourage people to take action. Also, the worst thing you can do is promise something that the product or service can’t deliver. Be honest and transparent about what your offer includes, and make sure to over-deliver on the value.

    • Provide social proof: People are more likely to engage with an offer if it comes from a reputable source. Include reviews, ratings and customer testimonials to build trust and make your offer more attractive.

    Examples of effective offers

    Effectively promoting your high-ticket products can drive more sales and dramatically increase your bottom line. To help you get started, here are some examples of effective offers:

    • “Get 50% off our flagship product for the next 48 hours only!”

    • “Sign up now to receive exclusive access to our new features before anyone else.”

    • “Try our product risk-free for 30 days and get a full refund if you don’t love it!”

    Related: How to Scale Your Business Using Google Ads

    III. Designing your ads

    Ad design is of utmost importance when promoting high-ticket items. They can make or break your campaigns, so getting them right is important.

    Tips for designing effective Facebook and Google Ads

    Some tips for creating effective ads include:

    • Keep it simple and concise: Don’t overload your ads with text and visuals. Stick to one message!

    • Use attention-grabbing visuals: Use visuals that stand out and capture the attention of potential customers.

    • Highlight your offer: Make sure to include your unique offer in the ad.

    Best practices for ad copy and visuals

    Certain best practices should be followed when crafting your ad copy and visuals. Here are a few:

    • Ad copy: Make sure to include relevant keywords, focus on benefits over features and use simple yet persuasive language.

    • Respect your audience: People appreciate it when brands respect their time and don’t bombard them with too many ads.

    IV. Creating landing pages that convert

    Your landing page is where potential customers will decide whether to take action or not. So, having a well-optimized one can make a huge difference in your conversion rates.

    Elements of a high-converting landing page

    Here are some elements to keep in mind when creating a high-converting landing page:

    Tips for designing effective landing pages

    When designing effective landing pages, focus on highlighting the benefits of taking action as soon as possible. You should also include CTAs in places that are easy to find, use visuals that capture attention and tell a story, and keep the copy concise and persuasive.

    V. Optimizing for conversion

    A well-oiled machine is needed to ensure that your high-ticket offers are successful. In this section, we will cover how to optimize your campaigns for conversion.

    Strategies for optimizing your campaigns for conversion

    When it comes to optimizing your campaigns for conversion, here are some strategies you can use:

    • Test and optimize: A/B testing is essential for finding out what works and what doesn’t. Test different elements of your ads and landing pages to see which ones produce the best results.

    • Analyze your data: Use analytics to gain insights into your campaigns and find out which ones are performing the best.

    • Improve your targeting: Make sure that you’re targeting the right audience for your offers. Look for ways to refine your target audience for better results.

    Best practices for testing and refining your campaigns

    One of the most important things to do before testing your campaign is to have a set of defined goals. Aside from that, you should also make sure to use reliable tracking tools, think before making changes, and document your results.

    Related: 5 Key Tips to Improve Conversion Rates

    VI. Retargeting and follow-up

    Finally, retargeting and follow-up are essential elements of any successful high-ticket offer campaign. Retargeting helps you stay top of mind with potential customers, while follow-up ensures that you don’t miss any opportunities.

    Strategies for retargeting campaigns

    Here are some strategies for retargeting campaigns:

    • Target customers who have already shown an interest in your offer.

    • Develop targeted content for each stage of the funnel.

    • Test different ad formats and targeting options.

    Best practices for follow-up and nurturing leads

    When it comes to follow-up, here are some best practices:

    • Reach out promptly, and be proactive.

    • Offer multiple contact points (email, phone, etc.).

    • Follow up with meaningful content that adds value.

    • Track your results, and make adjustments as needed.

    High-ticket offers can be incredibly lucrative for businesses, but only if done correctly. By following these strategies and taking the time to optimize your campaigns, you can drive more sales and increase your bottom line.

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    Alex Quin

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  • How to Attract Higher-Quality Customers | Entrepreneur

    How to Attract Higher-Quality Customers | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    There’s a difference between a customer who spends hundreds at your store at a regular cadence and one who buys the cheapest product and then never comes back. As an ecommerce owner, founder or operator, you want to make sure you’re driving “higher-quality customers” from your marketing investment. You need to be tracking the right metrics to monitor each traffic source for signs of poor customer quality. More often than not, certain traffic sources will be of lesser quality than others. Understanding what to look for, why this often happens and ensuring accurate monitoring will allow you to better optimize your marketing spending.

    Related: 10 Ways to Get High-Roller Customers Spending More With You

    What do we mean by “low quality?”

    This can often include an inordinate number of order cancellations, lower order values, subscription cancellations and higher product return rates — pretty much, the customer actions we want to avoid. These actions can be detrimental to your business’s profitability. Say you expect your customers, on average, to spend between $60-100 on your website per order. Seeing an average order value of less than $30 all coming from one source is a sign of poor traffic quality. Conversely, if your product return rates are substantially higher from one source to another, that could be another sign.

    A common source deemed to be “low quality” is incentivized traffic — essentially, incentivizing the customer in exchange for purchasing from your store. These incentives are often Amazon gift cards, points or in-game currency. You’ll notice the overwhelming majority of customers will purchase your product merely for the incentive, not because they’re actually interested in your product and value propositions. These customers will likely buy the cheapest product on your website, then return for a full refund once their incentive is received.

    In this example, your average order value went down, and your order cancellations went up. To add to the madness, you’re PAYING to run this traffic. This stresses the importance of understanding how each source of traffic is contributing to your bottom line.

    Why are some traffic sources “lower quality?”

    There could be a myriad of reasons why a customer may partake in lower-quality behaviors. Lower disposable income is often one. There are traffic sources that cater to younger demographics — for instance, students and young professionals. TikTok and Snapchat ads are notorious for attracting younger audiences. Conversely, some sources may skew towards older markets — that may be on a pension or fixed income. These customers are more cost-conscious and may spend less money on your website due to their constraints with limited disposable income.

    You also have to consider the customer’s journey and the influences on their decision-making. Customers on Black Friday or similar holidays may only be coming to your site to pick up a deal, so your repeat purchase rate may not be as strong due to this seasonality. Traffic sources that offer limited information to customers — notable, pop-up ads or other similar forms of display — can result in higher bounce rates on your website due to customer expectations potentially being different.

    The messaging in your ad creative and copy can also influence purchase behavior. If your messaging is primarily discounting your brand or speaking to cost savings, you may be unintentionally driving more cost-conscious customers to your store. This, in turn, can result in lower order values. Nevertheless, these types of customers may still be worth your marketing investment. You need to understand how much you’re paying for these orders and what you’re getting in return.

    Related: 5 Tips for Marketing to Conscious Consumers

    How do we monitor quality?

    The metrics you should track would vary depending on what’s most important to you. If you’re looking to expand your subscription program, early cancellations would be considered an important metric. If you’re looking to improve your ad spend return, low order values and order cancellations would be detrimental. You need to ask yourself, “What don’t I want my customers to do?” Those are the metrics you should be monitoring.

    It’s important to track these metrics for each traffic source. Attribution tools like TripleWhale, Northbeam or Rockerbox can help illuminate which traffic sources are driving the most value for your investment.

    Tactics to improve traffic quality

    Reprioritizing your marketing spending is a great start to improving traffic quality. If you have one source that’s more profitable than another, working on scaling the more profitable channel may be where your time should be spent. Cutting traffic sources that are deemed to be unprofitable or hurting the business due to low-quality orders should also be an important consideration, especially if you’re unable to lower your cost investment for each customer acquired.

    Bundling and upselling strategies can help to improve your order values due to the additional opportunities for the customer to spend more. Focusing on customer education before they purchase the product can also contribute to decreasing your order cancellations due to expectations being better managed. However, these can only “improve” your metrics. You need to add safeguards to prevent fraudulent or lower-quality orders from processing in the first place. Manually reviewing risky orders, limiting order quantities, collecting proof of delivery, showing clear policies on your website, being vigilant around peak shopping seasons, using verification software and building a blocklist are several common tactics.

    You need to approach new traffic source tests methodically. It’s a good industry practice to start with a more limited test — for instance, spending $1,000 or less — to ensure optimal traffic quality before scaling further. This will help you avoid making large investments toward traffic sources that may not be the best for your business and avoid the costly mistakes that many entrepreneurs have encountered before you.

    Related: 6 Reasons Why Attracting the Right Online Traffic Is Your Top Priority

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    Mustafa Saeed

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  • Use These Strategies to Maximize Revenue During Slow Seasons | Entrepreneur

    Use These Strategies to Maximize Revenue During Slow Seasons | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Seasonality affects many industries. While this is simply part of the nature of these markets, it’s vital that these seasons are used correctly to ensure the sustainability of business throughout the year.

    There are several ways that this downtime can be strategically utilized to maximize revenue. Let’s discuss some strategies below:

    Riding the wave

    While some businesses have more obvious seasonal trends than others, many experience periods in the year when business is known to be quieter for various reasons. For example, the cruise ship industry has perhaps one of the most obvious seasonal trends. So much so that they’ve coined a term for it: the wave season. Regardless of whether you’re in travel, education or telecoms, slow periods are inevitable. It’s what you do with them that matters.

    While your customers may not be purchasing at a high rate during the slow season, that doesn’t mean they aren’t still looking for information and assessing available purchase opportunities during that time. If you are not reaching out to them during this period, by the time wave season arrives, it’s already too late.

    Success in seasonal industries works through the waterfall effect. If you fill the vessel now, it will overflow when you need it to. However, if you sit back and do nothing or cut back on your marketing efforts when sales aren’t happening, your waterfall has no chance of reaching the required level.

    Related: 5 Ideas for Staying Busy During the Slow Season

    Push now, succeed later

    During slow seasons, it’s key to continue pushing content out into the market. Through drip campaigns, you can continually put your brand in front of those who will eventually become your customers. They might be cuddled up in front of a roaring fire in the middle of winter, but an ad for an incredible cruise holiday is the perfect way to get them thinking about what could be when the weather warms up. Gradual yet consistent exposure to your brand helps to build their interest to the peak point of purchase.

    When marketing outside of wave season, make the most of the time of year you find yourself in to push sales — think market vouchers for Christmas or even Halloween specials. Unique and interesting offerings that align with your customers’ current experience while helping them to plan for future purchases work particularly well to maximize future revenue. A secured customer now, even at a discounted rate, is far better than clinging to the hope that they will close with you in the future at a full rate.

    Related: How To Turn Your Slow Months Into Your Best Months

    Laying the groundwork

    Search Engine Optimization (SEO) takes time to filter through, so it makes complete sense to use the slower season to get your SEO campaigns underway. Combine this with limited-period offers to encourage customers to make purchases out of their ordinary pattern. Even if they don’t bite on these, your brand is on their mind, and you may just see them again in wave season.

    During this time, don’t discount your existing customer database as a vital source of future leads. In fact, considering that these customers have already purchased from your business in the past, they are probably the most qualified leads you have access to in your slow season. Targeting these people with carefully curated offers can help to trigger upgrades and return business. While you’re at it, referral programs will work equally well with this group of customers. They’ve already (hopefully) had a good experience with your business, so why not let them refer their friends and family and earn discounts or access to exclusive deals in return?

    Your long-term ROI needs to be the yardstick you use to decide whether to increase or decrease spending, not immediate sales numbers. Although it might be tempting to slash marketing budgets during slow seasons, in the long run, you’ll be doing your business more harm than good.

    Related: 4 Tips for Managing Cash Flow in a Seasonal Business

    Tracking the waves

    While maintaining marketing spend in the slow season is a smart move, if that budget and its campaigns are not tracked correctly, you may still be wasting your efforts and money. The only way to truly understand which avenues are producing the ROI you see in six months is holistic attribution of the channels that produced those sales.

    As long as you have a very tight tracking mechanism and attribution, that alone will dictate how you spend and how far you push — because marketing dollars today do not necessarily mean a booking or sale or conversion today, especially if your industry is seasonal. The conversion may happen six months from now, but if you can’t track that six-month window, you’re running blind, anyway.

    The key to successfully navigating seasonal industries is smart spending through validated data from holistic attribution. Using the data gathered during wave seasons to guide marketing in slow periods is vital to sustained success in these industries.

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    Sergio Alvarez

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  • 3 Ways to Predictably Boost Revenue and Drive Profitability | Entrepreneur

    3 Ways to Predictably Boost Revenue and Drive Profitability | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    If you ask the majority of marketing teams what their main focus is, they will probably tell you it’s to “acquire customers.”

    Getting new people to visit your website and buy your products or services for the first time is definitely one of the most important things a business must focus on. But one mistake I see entrepreneurs make all the time is obsessing about acquiring customers at a profit.

    Here’s what I mean: They will endlessly tweak their ads and landing pages, split test commas in their headlines and keep fiddling with their pricing in the hope that they’ll be able to earn more with the first sale than it cost them to attract that new customer.

    But the truth is, this is a losing game. Very few companies are able to make a profit with their first sale. Instead, they will build their backend sales first, so they can keep advertising and acquiring new customers even at a loss.

    Backend sales — those products and services that are sold to existing customers — are the lifeblood of every business. They will help you increase revenue predictably without spending more on advertising, improve your margins, strengthen your relationship with your customer, build customer loyalty and ultimately give you an edge against your competitors.

    So, how exactly do you build a backend sales infrastructure that can help you grow your business? Here are three ideas that can help you increase your revenue in the next quarter at a higher profit:

    Related: 3 Ways To Boost Sales With Existing Customers

    1. Upselling and cross-selling

    This is one of the quickest ways to start building your backend sales. Upselling and cross-selling are two marketing practices that involve offering additional or complementary products or services to existing customers. The secret to making these effective is to deeply understand what your customers want and identify what can get them closer to their goals.

    For example, we have a range of done-for-you marketing products where my team builds assets like Facebook™ ads, press releases or high-ticket funnels for our customers. Many of those clients ended up liking our work so much that they naturally asked us if we had a more in-depth program where we could follow their growth over a longer period of time. This is how our Accelerator was born — an upsell that allows our existing clients to get 1-1 help from us and grow their business faster.

    As you build your upsells, think about ways you can get your existing customers to achieve their goals faster or more easily. This will give you a good foundation for building your first upsell product.

    2. Loyalty programs

    Think about your local supermarket. Why do you keep going back there? Sure, it might be placed conveniently and you might like its products. But many of them also offer you discounts, gifts and other incentives the more you buy from them.

    This is one of the most effective ways to get your customers to buy from you over and over, and so you increase revenue and profits at the same time.

    However, this comes with a word of warning — don’t overuse discounts and coupons, as that might make your customers start to expect them, making it harder to increase prices later on.

    Related: How Brands Can Turn Short-Term Rewards Into Long-Term Loyalty

    3. Exceptional customer support

    Finally, one of the least discussed ways to keep your customers buying from you is by providing exceptional customer support after the sale is made.

    According to HubSpot, 93% of customers are more likely to be repeat customers at companies with excellent customer service.

    Supporting your existing customers isn’t just a matter of replying to their complaints in time or refunding them when they didn’t like your product or service. It’s going above and beyond to make sure they are satisfied with what they purchased.

    This can be done by sending them additional guides that help them get the best out of your product, providing them with extra coaching to make sure they succeed in your programs and sharing any resource that can help them have an outstanding experience with you.

    Backend sales are a fundamental part of every business’ success. Building one might sometimes feel hard, as you don’t know what exactly you should be offering to your clients. Hopefully, this short guide gave you some ideas on how to keep selling to your existing customers so you can predictably increase revenue, get higher profit margins and put some distance between your business and your competitors.

    Related: 3 Strategies to Improve Your Customer Service Experience

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    Rudy Mawer

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  • Rent or buy? Here’s how to make that decision in the current real estate market

    Rent or buy? Here’s how to make that decision in the current real estate market

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    Choosing whether to rent or buy has never been a simple decision — and this ever-changing housing market isn’t making it any easier. With surging mortgage rates, record rents and home prices, a potential economic downturn and other lifestyle considerations, there’s so much to factor in.

    “This is an extraordinarily unique market because of the pandemic and because there was such a run on housing so you have home prices very high, you also have rent prices very high,” said Diana Olick, senior climate and real estate correspondent for CNBC.

    By the numbers, renting is often cheaper. On average across the 50 largest metro areas in the U.S., a typical renter pays about 40% less per month than a first-time homeowner, based on asking rents and monthly mortgage payments, according to Realtor.com.

    In December 2022, it was more cost-effective to rent than buy in 45 of those metros, the real estate site found. That’s up from 30 markets the prior year.

    How does that work out in terms of monthly costs? In the top 10 metro regions that favored renting, monthly starter homeownership costs were an average of $1,920 higher than rents.

    But that has not proven to be the case for everyone.

    Leland and Stephanie Jernigan recently purchased their first home in Cleveland for $285,000 — or about $100 per square foot. The family of seven will also have Leland’s mother, who has been fighting breast cancer, moving in with them.

    By their calculations, this move — which expands their space threefold and allowing them to take care of Leland’s mother — will be saving them more than $700 per month.

    ‘You don’t buy a house based on the price of the house’

    “You don’t buy a house based on the price of the house,” Olick said. “You buy it based on the monthly payment that’s going to be principal and interest and insurance and property taxes. If that calculation works for you and it’s not that much of your income, perhaps a third of your income, then it’s probably a good bet for you, especially if you expect to stay in that home for more than 10 years. You will build equity in the home over the long term, and renting a house is really just throwing money out.”

    Mortgage rates dropped slightly in early March, due to the stress on the banking system from the recent bank failures. They are moving up again, although they are currently not as high as they were last fall. The average rate on a 30-year fixed-rate mortgage is 6.59% as of April — up from 3.3% around the same time in 2021.

    But that hasn’t significantly dampened demand.

    “As the markets kind of bubbled in certain parts of the country and other parts of the country priced out, we’ve seen a lot of investors coming in looking for affordable homes that they can buy and rent,” said Michael Azzam, a real estate agent and founder of The Azzam Group in Cleveland.

    “We’re still seeing relatively high demand” he added. “Prices have still continued to appreciate even with interest rates where they’re at. And so we’re still seeing a pretty active market here.”

    Buying a home is part of the American Dream

    The Jernigans are achieving a big part of the American Dream. Buying a home is a life event that 74% of respondents in a 2022 Bankrate survey ranked as the highest gauge of prosperity — eclipsing even having a career, children or a college degree.

    The purchase is also a full-circle moment for Leland, who grew up in East Cleveland, where his family was on government assistance.

    “I came from a single-mother home who struggled to put food on the table and always wanted better for her children … it was more criminals than there were police … It is not the type of neighborhood that I wanted my children to grow up in,” said Jernigan.

    The new homeowner also has his eye on building a brighter future for more children than just his own. Jernigan plans to purchase homes in his old neighborhood, renovate them and create a safe space for those growing up like he did.

    “I’m here because someone saw me and saw the potential in me and gave me advice that helped me. … and I just want to pay it forward to someone else” Jernigan said.

    Watch the video above to learn more.

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