Archive for the 'Business & Marketing' Category

Dec 20 2013

Bridging the Gap between Manufacturers and Distributers?

Published by under Business & Marketing

A recent study revealed that around 82% of manufacturers and 92% of distributors agree that differences exist in their working relationships. The notable part is that both of them are aware that these differences are causing negative impact on sales and profitability.

The reason for these disagreements is mismatched expectations, which arise due to hasty pursuance to make quick profit. Researchers say that distributers show their commitment to only those products which give them better ROI. They fail to promote other products thereby offending manufacturers. Distributors have a different take – they that manufacturers do not guide them in the proper direction.

What Can Be Done Then?

  • Manufacturers and distributers must clearly set out the fundamental purpose and expectations of their collaboration.
  • Manufacturers must present a detailed report on the demographic diversification of their products. It will reduce conflicts in market.
  • Apart from this, the manufacturer must steer away from the traditional mould of “Make and Sell Stuff”. They must accept that it is not the product but the information and aptitude that impart competiveness.
  • Both the entities must understand that instead of talking about market coverage, they must focus on collection, administration and sharing of information. It will aid in gaining an edge over competitors.
  • Distributors are skilled in sales and often lag in technical aspects of marketing. Manufacturers can conduct marketing sessions for their distributors once a year to educate them in this area.

Use these ideas to impart value and direction to relationships while increasing trust between manufacturers and distributors. It is also essential to develop objectives that are customer-centric, explicit, mutually beneficial and practical for their industry.

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Dec 20 2013

Using Reviews Better For Your Business

Do you put some thought into what’s said about your business online? If you haven’t yet, then please do so as quickly as you can. A lot of companies prefer to ignore reviews about them, especially if it’s negative. Don’t follow the same path.

Websites like yelp.com and local.yahoo.com provide prospects with handy insight into your business. These websites offer local business coverage and are easy to access online. Whether its restaurants, automobiles, travel or just about anything under the sun – reliable reviews are ready for those who need them any time of the day!

Reviews serve as an excellent marketing channel because they can easily manipulate consumer behaviour. A 2012 survey by Nielsen revealed that respondents believed in online reviews as the second most trusted form of advertising, behind recommendations from family and friends. Here is a fact – if you don’t have reviews for your business online, you are missing out on a whole lot of fun!

So how do you get favorable reviews for your business? Of course, the first step would be to sell products/services that match the expectations of your target audience. The second step would be to provide your customers with an opportunity to write about their experience on your website itself. Guide customers to write reviews and if they write favorably on 3rd party sites such as Google+ and Yelp as well, your business stands to gain exponentially.

So after a customer has completed a transaction on your website, send him/her a thank you note and invite to share his/her experience. You can either do so by sending them an email or contacting them by phone.

This is exactly what we do at Promo Direct. Each product page on our site allows customers to write a review and this will be displayed for other prospects to read about.

Check out some external reviews on Promo Direct such as the following:

http://sugarrae.com/reviews/promodirect-review/
http://promotional-products-stores-review.toptenreviews.com/promo-direct-review.html

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Dec 19 2013

Facts to Consider While Advertizing a New Product

Published by under Business & Marketing

The success of a newly launched product depends entirely on how well you advertize it. Apart from money and resources, it takes years of research and development to come out with a product that appeals to customers and is profitable to an online business.

So, entrepreneurs need to focus on an ideal advertizing plan to make prospects aware of their product and generate interest in it. Here are 4 important facts to consider while advertising a new product:

1. Focus On Audience

With a new product, you can retain your existing customers, gain an edge over competitors and enter a new business sector. If you wish to focus on your present customer segment, then communicate to them the benefits and effectiveness of your products. If you are entering a new sector then make your target customers aware of your company.

2. Advertising Options

There are several options available to showcase a new product—television, magazines, newspapers, Internet and radio. These are effective, trustworthy ways to reach out to your target audience because people refer to these mediums in their routine life. Opt for a medium that caters to a large number of customers at an affordable cost. Start promoting your product extensively few days ahead of its launch. It helps in building awareness about the product.

3. Competitiveness

To stay ahead of competition, companies look out for ways that will make similar products seem different from each other. Focus on the best things such as competitive price, durability, features, quality and service. Tell them how your products will help to resolve their problems.

4. Be Innovative

Try to launch your product in an innovative way—donate the products to a charity. On the date of launch, carry an online countdown or consider a product launch party. You may also conduct contests on social media platforms to spread a word about your product.

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Dec 11 2013

It’s Time To Celebrate National Flashlight Day

Ever heard of National Flashlight Day? Well, it’s okay if you haven’t heard of it because not many people have heard of it before!

Here’s an interesting fact for you – National Flashlight Day is celebrated on the 21st of December every year. The origins of this weird observance are not known but we will share with you what we know.

National Flashlight Day falls on Winter Solstice, which has the longest night and shortest day of the year. This means that there will be a lot more darkness than usual. So it’s the perfect time to plan a marketing campaign that revolves around flashlights, what say?

Visit our page on flashlights to explore the variety on offer. Get your logo and message imprinted on them to launch an effective marketing campaign for your brand. Here are some of the popular products you will be interested in:

1. Mag-Lite Mini: This product comes in a black gift box along with 2 AA batteries. It is sturdy and available in 5 exciting colors.

2. Flash N Glow Stick: This slim light stick has 3 settings: flashing, solid and strobe. A great giveaway, the Flash N Glow Stick comes with a convenient ON/OFF button. Each product comes individually polybagged.

3. Mini Aluminum LED Flashlight: Now here’s a cute item worthy of being a part of your marketing campaign.

4. Handy Mate Flashlight Multi-Tool: Here is a product that comes with a flashlight and tool kit. It includes a knife, saw, file, scissors, a screwdriver, a bottle opener and lots more! A handy giveaway at workshops and tradeshows!

5. Magnetic Car Light/Flashlight: This car light comes with a retractable cord and a magnet for stationary placement. Can be plugged into a car’s cigarette lighter outlet.

You can choose from any of the items mentioned above or featured on our site. We wish you the very best for National Flashlight Day!

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Dec 11 2013

4 Tips to Convert Cold Calls into Successful Leads

Even though we live in an era dominated by digital marketing, cold calls are still the most preferred and reliable method of obtaining prospective leads. The purpose of any cold call must be to convert the conversation into a winning one that meets the caller’s goals. Here are 4 important tips that will help you convert cold calls into successful leads:

1. Plan Your Strategy

This is the first step that will lead you towards a potential lead. You need to compile a comprehensive list of individuals whose objectives and requirements match with those of your present customers. Chart out an ideal sales pitch that will impart effective structure to your conversation. Include a list of probable questions that your clients may come up with and consider responses that you will have to make to maintain effectual conversation.

2. Face Your Fears

While making cold calls, even the most experienced person may get nervous. Open a call confidently by identifying yourself and briefing about your company. It will also help you judge the temperament of your customers. It is not necessary that every client you come across may consider you as intrusive or abrasive.

3. Market Your Brand

It may be possible that a company or customer may not require your service presently. Take this opportunity to market your brand. These customers may consider buying products from you in the future.

4. Never Give Up

At times, cold calls will not yield any positive leads and you might feel frustrated. In such situations, remain optimistic and be persistent in your efforts. Review strategies and try to incorporate some changes in them if needed.

With these tips, converting cold calls into successful leads will not be a tough task.

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