SEO & Online Marketing

Posts Tagged ‘sales’

Friendly Fraud

Posted: May 30th, 2009 Author: Michael Regan Posted in business, sales, security | No Comments »

There is a new buzz word making the rounds – Friendly Fraud. It is the online term for the old practise of returning goods after you have used them. For the online merchant, this type of fraud now includes the customer saying they never received an item, stopping the credit card payment, and even returning empty boxes.

While the practice is probably as old as merchandising – it seems to be on the increase, due, in large part, to the declining economy. Some business blogs are reporting a 50% increase in this type of fraud.

This fraud not only causes losses of a sale but also the cost of bank chargebacks and handling costs. In many cases the items are, if they are returned, are too badly damaged to be resold even as used material.

While nothing you can do will eliminate this practise, there are somethings you can do to discourge the less aggressive fraudster.

Have a clear return policy. Have it online and as part of you packaging.
Limit the time period when returns will be accepted
Require a RMA (Return Merchandise Authorization) for all returns
Use a shipping method that requires the customer sign for the product.

These methods won’t deter the most aggressive fraudster. They will help deter those that may be looking quick way to get out of paying. And, in most cases, seeing a well defined returns policy will be appreciated by legitimate customers

Are You a Commodity

Posted: March 17th, 2009 Author: Michael Regan Posted in marketing, sales | No Comments »

Wiki defines commodity as “something for which there is demand, but which is supplied without qualitative differentiation across a market.”

We were hired to do some SEO on an existing real estate website. In researching the term I found that most realtors in the area offered essentially the same service. They all had listings from the Multiple Listing Service (MLS). And, they all had some feature properties, usually ones where they were the agent for the seller. A few were trying to differentiate by price. But, most were affiliated with a larger organization which set standard fees.

In short those real estate agents are now commodities.

Don’t let this happen to you!

In any market, but especially in poor economic times, a commodity sells by luck and price. Luck, in that the consumer is likely to choose the first one available. And, price for those looking for a bargin with little concern for service or extra value.

To stop becoming a commodity, highlight the difference between you and others in that market place. And, focus on a niche within the market. In our local real estate market two niches are doing fairly well. High end properties, and low end properties. One has low volume and high profits while the other has higher volumes but lower profits.

By focusing on your niche market you can stand out from the crowd.

Race For The Bottom

Posted: March 11th, 2009 Author: Michael Regan Posted in business, commentary, marketing | 3 Comments »

The squeeze is on small business.

Customers have stopped spending and many businesses are starting to panic. All too often this results in poor decisions. And, while only you can decide what is right for your business you MUST take the time to evaluate the effect your actions will have on both the short and long term.

The ‘knee jerk’ reaction to falling sales is falling prices. As businesses struggle to reduce inventory, margins are cut and prices are slashed. And, while this may increase cash flow in the short term it may be devastating in the long term.

As with most crisis, there are those that are ready, and those that aren’t. While no one could have predicted the speed and depth of the current crisis – the fact that there would be a crisis was obvious. As far as we know, only the universe expands forever. Everyone knew, or should have known, the economy would, if not collapse, at least slow down. Those businesses that prepared are going to be fine.

What about the 99.9999% who didn’t prepare?

You need to look at your whole marketing strategy. The strategy you adopt now will set the tone of your business for years into the future. What is your marketing advantage now? How can you change it to bring in customers now? How will that change effect sales in the future?

Just as nothing expands forever, nothing contracts forever with out becoming a Black Hole. The economy will come back. When it does, the decisions you made now will effect whether your business will also come back.

While you want your business to survive – not all businesses will. Made that decision early and review it often. It is better to close while you can retain some of you capital than watch it all disappear in a lost cause.

Don’t race to the bottom. There are those that will under cut you. Unless you are a WalMart – selling on price alone is a poor strategy.

Take the time to consider all your options.

“Salesmanship-In-Print”

Posted: February 16th, 2009 Author: Michael Regan Posted in business, commentary, marketing, sales | No Comments »

This week on The Adge of Persuasion, Terry O’Reilley talked about Albert Lasker, considered the father of modern advertising. He talked of Lasker’s contract with his audience that in return for listening to the advertising message – they would be entertained or enlightend.

Lasker owes part of his success to a chance encounter with a former Canadian North West Mounted Policeman (NWMP) by the name of John E. Kenedy. It was 1905, the store goes that Kennedy, who had turned his hand to copy writing, sent an note to A.L. Thomas, the head of the Lord & Thomas advertising agency. For some reason, Lasker, who was a junior partner there at the time, got the note. In the note Kennedy promised to reveal the meaning of advertising. Intrigued Lasker agreed to meet with Kennedy.

Kennedy summed up advertising in three words – Salesmanship in Print. The meaning of print has changed over the years, but the basic message is the same.

Your website has two functions marketing and sales. Too many sites focus only on the marketing. Thinking once potential customers reach their site sales will follow. — They won’t!! Your site needs to advertise your product. You need that "Salesmanship in Print" working for you 24 hours a day 7 days a week.

Kennedy worked with Lasker for a while creating some of the fundamental concepts of modern marketing. And, after a hundred years, his ideas on marketing are just a true as today as the were then.

I Can Finally Afford It

Posted: February 15th, 2009 Author: Michael Regan Posted in business, commentary, marketing, sales | No Comments »

When asked why he robbed banks Willy Sutton quipped, “Because that is where the money is,”.

In these hard economic times businesses have been slow to learn this lesson. Advertising and marketing are focusing on a demographic that has less and less disposable income and discretionary spending.

Who should businesses be focusing on? Well — people like me.

We are 55+, we have retired or will soon retire; we have inherited or will soon inherit a sizable estate; and while the stock market has hurt our nest egg — for the most part, we are doing quite well.

We are different from our parents generation. A generation that survived a depression, a world world, worked hard all their lives to retire at 65 and die a few years later. We are healthy and expect to stay that way for another 20 or 30 years. However, we are starting to realize our own mortality. We might have something set aside ‘for the kids’. But, they ain’t getting all of it.

Like any group of this size we are a diverse lot. We want to save the planet – but that Cadillac sure looks nice. We don’t need a 35 foot motorhome, 25 feet will work fine, but it better have all the ‘beels and whisles’. Those jet-skis look like fun, how about a kayak, or maybe a sailboat. And PLEASE, don’t make me sit in a cramped airplane seat – give me some leg room and a little luxury – I can finally afford it.

Who Does Your Web Page Feature

Posted: February 10th, 2009 Author: Michael Regan Posted in business, marketing, web design | 2 Comments »

Take a critical look at your website. Does the first page show off your product or your web designers skills?

Too many web designers see your web page as a place to show off their skills. While you want your website to be attractive, the focus MUST be on the product and not the designer’s skills.

Colour selection, image placement and page copy must all focus on the product. Getting this right separates the business website from those that just pretend to be business sites.

Here are three things you can check to see how well your website supports your product:

Is the header less than ¼ of the visible page in height?
Is the product identified above the fold?
Is the call to action above the fold?

Unless the header is featuring your product it shouldn’t take up more than ¼ of the page. The product and the call to action should be seen without having to scroll down the page.

A Visit to Walmart

Posted: November 5th, 2008 Author: Michael Regan Posted in business, marketing | No Comments »

I went into Walmart yesterday for a pair of socks.

I must admit I usually don’t frequent Walmart stores. But, all I wanted was a pair of work socks. A quick in and out operation – nothing fancy – I don’t care what colour my work socks are.

Well – it wasn’t that simple.

First you can’t buy a pair of work socks at Walmart (or any where else as far as that goes) — You can buy two, three or five pairs — but you can’t buy a single pair.

I have gotten used to this over the years. Things that I once could buy as single items from gum to socks – now come in ‘bundles’. They are not bundled because the consumer wants that – they are bundle to save on handling for the retailer. Even my local grocery store will give me a discount if I buy 6 tins of a product over the 1 tin I wanted in the first place.

So I reach for a pack of three pairs of work socks. There is nothing in the sock aisle to indicated the size – so I check the package — sizes 7-11.

Too small — So I start searching for a larger size. No luck. All the socks are sizes 7-11. Or as I call them “One size fits nobody!”

Now the average male shoe size in North America is 10.5. And, while my feet are just slightly larger than average, lets consider the average person. A sock small enough to fit a size 7 foot which is 9.8 inches is going to stretch over 1.5 inches to fit a size 11 at just over 11.5 inches. For the average male the sock still must stretch over 1.25 inches.

The result was I went down the street to Mark’s Work Wearhouse (A Canadian retail chain specializing in work clothes.) I still couldn’t buy a single pair of work socks – but at least they had my size. And, the price was only marginally more than what Walmart wanted for the smaller size.

As businesses struggle through this recession, there are HUGE opportunities in just giving your customers what they want. It sounds simple – but even the biggest retailer in the world can’t do it for everyone.

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